Starting and running a business is no easy feat. It requires hard work, dedication, and an understanding of the market and how to best position your business. We have compiled a list of tips that will help you get started on the path toward business growth.
Growing a business is an exciting time, but it also comes with risks. You need to consider both the financial and legal implications of expanding your business. You must have a solid plan in place before leaping. Here are some crucial considerations for growing your business.
Brands are powerful – they allow companies to make lasting impressions on customers and, ultimately, influence purchase decisions. There’s a reason why companies spend 10.9 percent of their revenues on marketing, with branding being a large part of it. Focusing on your brand as a small business owner can reap rich rewards.
Branding is a nebulous concept, though, not well-understood and ever-evolving. It can be hard to know where to begin and what’s going to net you solid returns. To help you get started and make informed decisions, GB Marketing & Communications offers this quick reference branding guide for small business owners:
When it comes to sustaining long-term success as an entrepreneur, few things are more important than building your network. Whether you are trying to get your new venture off the ground or take your business of 15 years to the next level, you must have good partners, investors, distributors, suppliers, and mentors with whom you stay connected.
Regardless of your political orientation, I think we can all agree that anytime popular opinion can be manipulated by spreading false news is a bad thing. With a new election set to occur next year in the US, there is a concern (rightly so) about the possibility of foreign actors or others exerting influence on the outcome. Similarly, trust over personal data held by corporations is now at an all-time low. Have we forever lost trust in communications? Can it be regained? What can marketers or communications pros do to help reverse this trend?
The Research Findings are In
The Institute for Public Relations recently conducted a survey addressing this concern. The study, “The 2019 IPR Disinformation in Society Report,” was based on a poll conducted March 19-24, 2019 by 2,200 Americans. The research sought to identify the level of trust the American public has in collecting information from various data sources as well as the parties that are responsible for combatting disinformation.
I just read a Global Communications Report published by the USC Annenberg School for Communications and Journalism. The findings were very interesting. One of the figures that really caught my attention was that 87% of PR professionals believe the term “Public Relations” will no longer accurately describe the work they will do in 2022 – nor may it even exist as a separate discipline!
As a Public Relations practitioner, these findings caught my
attention enough to read the rest of the report. If this big of a change is on
the horizon, then it is probably a good idea to understand the best road to
take. Advance planning will help to navigate this potentially significant
It doesn’t matter if you are a social media expert or novice – we are all impressed when you hear about the amazing number of followers some brands and celebrities achieve on social media channels. Did you know that Selena Gomez had 139 million people following her on Instagram at the end of 2018? How did she do that? You might wonder how it is even possible to achieve this level of engagement. Your next question might be, “Who cares?” Does it even matter?
Yes, it does matter.
Likes and followers are a very quantifiable metric that provides insights into your brand’s popularity. Beyond simply being an emotional boost, having a large following translates into a stronger brand, greater awareness and more revenue opportunities.
I am a firm believer that deep down inside, people want to do the right thing. Perhaps it is my Economics training – a key foundation for this field of study is that consumers will typically make a decision that improves their well-being. Of course, if that decision is good for you, but not good for society, then the theories of Economics don’t always explain how decisions are made or necessarily lead to decisions being made for the greatest common good. In these cases, we need a trusted advisor.
Quite often it can be difficult to say the “right” thing with family or friends. Most of us want to see our family and friends achieve success, meet their goals, and feel good about what they are contributing to society. The reality, however, doesn’t always work out as smoothly. The truth can be hurtful or damaging, or at least appear to be at the time.
I have already written about the important role “influencers” play in the purchase process – from the choice of what ice cream flavor to eat to the complex purchase cycle of an enterprise software solution (read prior article). This article will take a closer look at how social media has taken on an important role in helping influencers connect with buyers along their purchase journey.
It wasn’t long ago when Facebook was an application just used by college students looking to make plans for the weekend or to catch up with others on recent news or activities. The amazing growth of members quickly validated how popular and how much value its members place with this social community.
I find it quite interesting to observe how purchase decisions are finalized. This process is even more fascinating when you look to see how the process has changed over time. As a marketing professional, it is critical to understand just how your target audience makes a purchase. If you don’t understand this process, you will likely waste precious resources, time, and effort trying to encourage behavior that might never occur.
Let’s first take a look at what I would consider to be a pretty basic purchase process – the decision to buy an ice cream at the beach.