Thursday, September 13, 2012
Every business begins with intentions of success. Not all get there. What is the 'X' factor? How do successful businesses come to be such? That's the question on the minds of those who have not achieved stardom. There is no exact magic formula, and industries greatly contrast. However there are a number of notions implemented by productive companies.
Regardless of respective industry, businesses can't do 'it all' alone. Actually, a number of leaders prefer the core team focus on in-house projects and direction, while outsourced vendors help with ancillary initiatives. For instance, a shipping supply company may have little to no time for online marketing, though the notion can improve revenue and exposure. If the shipping company pulls resources off of core needs to address marketing, it could backfire making it lose traction rather than benefit. Alternatively, allowing other professionals to contribute keeps internal resources on task while devoted outsourcers handle additional needs.
Using Social Media
Social media is a broad topic. Initially, one may consider Facebook and Twitter to be social media. Those platforms are indeed, yet so are blog posts, videos, sound bytes, and others. In many cases such means to communicate and engage consumers is absolutely free of charge. Traditional marketing and advertising seeks to draw attention and facilitate conversions. Online marketing means, such as social media, is no different. A huge problem with business-leveraged social media is commitment. Not enough diligence and consistency is devoted to the process. When used appropriately, it can be hugely successful. If started and then neglected, the process could work in a negative fashion.
Whether a business provides goods or services, allowing a number of people to first get 'a taste' of the brand can attract attention. Giving something away for free is not good accounting; yet, it makes for good businesses if it helps gain more attention to the brand, eventually igniting sales. If a company truly believes in what's offered then letting the target market sample for free should seem advantageous. In the very least, a brand can perform a small sample testing.
Brand strategy is the focus of many successful companies. Consider an instance of brand strategy. Your nose is running, better grab a Kleenex. Oh wait. Kleenex is the brand. A tissue is the product; yet, Kleenex has done a superb job branding. Such a good job that the brand name has become synonymous with the product, virtually providing word-of-mouth marketing each time it's uttered. Realize the power of branding and formulating a cohesive brand strategy.
Mercedes Potter is a part of an elite team of writers who have contributed to hundreds of blogs and news sites. Follow her @CedesPotter to see what else she's been blogging about.