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Our Blog

An ongoing series of informational marketing and business development entries

Digital Marketing

June 12, 2021


I know this post is a bit late but even the best authors experience a writer's block at some point in their career. I am not using this as an excuse for having not posted recently but rather as a means of highlighting how time-consuming the job of a marketer can be within this ever-changing global market place. It is for this reason that I want to focus on digital marketing and the impacts it may have on your business. With the world facing a global crisis, Covid-19, businesses are moving more towards digital marketing as opposed to other traditional forms of marketing. You may ask what is digital marketing and how does it work? Digital marketing has to do with any online marketing effort, for example, social media advertising, search engine optimization (SEO), content marketing, native marketing, email marketing and of course much like these articles, blogs. Though the list is not limited to the aforementioned, these are considered some of the most common types of digital marketing.


Now that we have an understanding of digital marketing, we will now focus on the impacts of digital marketing on your business. Firstly, you should understand what channels are driving sales within your organization . Once you have established this understanding then it makes it easier to develop strategies aimed at maintaining or developing these existing channels.

  

The second option we will be focusing on is that of establishing an online presence. With most customers moving online it is important that your company establishes their presence online. This can be done through creating social media accounts such as Facebook, Instagram, Twitter, YouTube etc. In creating these accounts, your focus should be reaching and engaging you customers. Having a website is also very important in your quest to building your presence online, this is as most person in a quest to find new organizations to do business with begin their search online. 


Thirdly, personalizing your brand and controlling messaging is also of the utmost importance. Creating a message that tells a story that your customers can relate to is essential as customers tend to purchase from brands they can relate to. Seth Godin stated, "Marketing is no longer about the stuff that you make, but about the stories, you tell" This is particularly true as people tend to the remember and relate better to stories. It should also be noted that writing about your product and service offerings is not telling your customers a story that they can relate to.  It is for this reason that you should tell stories that relate directly to your brand and that makes the customers the hero's so that customers can build a relation with your organization. 


Fourthly, use tools that better allows you to target your customers. This can be done by using programs that allows you to automate some of your online activities such as your posts to different social media channels. This can help you save time and thus allows you more time to focus on other aspects of your business. You can also use tool that allows for automated email targeting or lead generation. 


The fifth option is to consistently provide content to your customers and to showcase content that matters.  The content that you choose to display can tell a lot about your brand. Building a positive, relatable brand image is always important. This can be done through creating organic relatable content that your customers feel connected.


While these options are few, implementing each should ensure you reach your customers within the digital market place. It should also ensure that you are able to communicate effectively with these customers.


Things You Should NOT Do When Writing a Business Plan For Investment Purposes:

March 17, 2021


Writing a business plan can be tricky. It requires a lot of time, effort and research to ensure that it is properly executed. There are a lot of mistakes that can be made when writing a business plan, especially if you are new to business plan writing. Today, we will take a look at five things you should not do when writing a business plan.


1. Do not have any empty claims included in your business plan. All claims should be supported by facts. This is as investors like to see facts, therefore; if you do not have any facts to support your claim it is best to not include it in your business plan. 


2. Overly Optimistic time frames: When creating a time line within your business plan you should look at the time your competitors take to complete the same or a similar project. You should also consider doubling this time to allow room for any unforeseen delays within your plans. In so doing, not only do you create a realistic timeline but you will also ensure that you don't exceed the time frame that is provided to your investors. 


3.  Do not use strong adjectives such as 'incredible", "best", "most", "unique' etc. This is as business plans are centered around facts. Adding these words reduces the credibility of your statements. 


4. Financial Projections: Your financial projections should be realistic. It is best to do a bit of research to see an estimate of what your earnings should look like and then estimate your earnings at about 10% less. This is as you are new to the industry and your earnings will therefore be less than company's that have been in the industry for many years. 


5. Do not over estimate your financial projections. When adding financial projections to your business plan it is best to underestimate versus overestimating these figures. Investors can usually tell when your financial projections are overestimated. To ensure that you have realistic projections you can work with a certified accountant to ensure the accuracy of these figures. 


Ensuring that these common mistakes are not seen in your business plan is key in ensuring the success of your plan. Eliminating these mistakes can result in professional business plans. 



The Basics of Marketing

March 4, 2021

Learning to market your own products and services can be very complex as there are numerous strategies that one has to learn to help create successful marketing campaigns. Here are a few tips that will help you develop your marketing skills, but; let us first understand what marketing is and how it works.


Marketing is promoting the buying and selling of a product or services and as such requires you to understand your customers and build strong customer relationships. In short, we can describe marketing as the tool that drives profitable customer actions. Now that we understand what marketing is, let us look at the 4 P's of Marketing:  Product, Price, Promotion and Place. 


Product


The product has to do with what a company sells whether it is a physical product or service. Here are three key features used by companies when determining a product:


1. Product Variations: When creating a product for the market one has to consider whether they will be including different variations of the products on the market. For example; juice - the different flavors that will be available on the market.


2. Packaging: Marketers help in determining how items should be packaged, whether it be in a box, paper bag, etc. They also have great input on package design as they have great insight on what appeals to customers.


3. How it will be serviced?: This refers to whether or not one will include warranties, returns etc. 


Price

Pricing has to do with a lot more than just the cost for a particular good or service. When pricing goods or services, the price has to be set a so that the market in which the good or service will be sold will support it. When pricing products or services, here are a few considerations:


1. Rate per unit of a product: This aspect requires marketers to do a competitive analysis of what is considered as a fair price to offer a good or service for sale. This is determined by the cost to produce the good or service and customers willingness to pay.


2. Discounts: Marketers also help to determine whether or not they will be offering promotions and the times best suited for such offerings.


3. Payment option: Examples of different payment options include payment via credit or debit card in store, online payment, lay away plans, etc. Marketers make important decisions in determining whether these payment options are suitable for the business. 


Promotion


It is important to undertake numerous promotional efforts when launching a product or service. This is to bring awareness to the product or service offering. Here are few things to consider when undertaking different promotional efforts:


1. Suitable promotional channels: This is inclusive of both online and offline marketing efforts such as billboard advertising, social media advertising, news paper ads and much more.


2. Promotion Location: It it is very critical to promote your products and services on the correct platform, whether virtually, or at different physical locations.


3. Message to be communicated: Ensure that the message being communicated can easily be understood. It should give a vivid description of what the product or service is and should encourage purchase of said product.


Place

1. Distribution Location: Whether online or offline. 

2. Locations: Where will I be able to purchase these products or services?



Now that there is a basic understanding of the 4 P's of Marketing you should now be able to not only effectively determine what items are best suited for the market but also design, price, promote and distribute these products effectively.