How Proper Branding Can Help Your Marketing Efforts

How Proper Branding Can Help Your Marketing Efforts

The following brands have created such great impact to the market, that by just seeing their logos, we can easily identify and name them.

What made these leading companies so popular with the people? Each of these companies has built a strong brand, it wasn’t just the name nor graphic element and even beyond the business principles that brought them to the top.

“Branding is Strategical”

Brand identifies the product or service you are selling to the market, builds and keeps your reputation and remains in your customer’s mind after the experience.

It is important to know our customer’s feedback to our brand and how we reinforce them to ensure the stability and longevity of our product.

Here are the following objectives to ensure that you create value for the brand you are conveying to your current and future customers:

  • Know your market and understand the needs of your existing and prospective customers
  • Establish your purpose and strengthen your advantage over your competitors
  • Build trust and loyalty with your customers by consistently delivering quality products and services

Our brand encapsulates our company’s core values and reflects the entirety of the business operation. Hence, it is vital that our company builds a strong foundation and clearly defines the purpose of

“Marketing is Tactical”

This is a favorable time for new businesses or start-up companies since technology has rapidly evolved.

It is easier nowadays to promote the brand and the purpose using different media and referrals circulating through world-wide-web.

The only challenge that companies are currently facing is how to remain valuable to the market.

  • Research plays an important role in the marketing plans of the company
  • Learn strategies from emerging adversaries and how to improve your product or service
  • Innovation is crucial to ensuring overall sustainability – improving market and organizational engagement and increasing brand value which enables the business to further grow and flourish.

How does proper branding improve your marketing efforts?

  • Branding is the expression of the company’s business value and by creating a brand, the company builds awareness to the market.
  • The stronger the brand affects the consumers, the higher their familiarity with it, thus, increasing marketability of the product.
  • Branding distinguishes the company’s value apart from other competitors making it more advantageous to position the product for long-term promotion.
  • Proper branding and meeting customers’ expectation yield positive feedback and generate referrals for easier marketing of the product.
  • Customer experience as part of increasing brand value bolsters trust and loyalty and in effect, ensures long-term growth and stability for the company.

Branding & Marketing Analysis

As we go over the top brands initially discussed in this article, we now know what set them apart from other brands. These market leaders live by their respective missions to define the visions for the future of their companies.

How did they strategically position their product to the market?

  • Apple – their commitment to delivering extraordinary customer experience through their unparalleled user interface.
  • Google – their firm resolve to organize world’s information and making it universally accessible and usable.
  • Microsoft – their strong belief in the empowerment of every person and organization to accomplish more
  • Amazon – their fulfilment of their goal to globally reach the market with their comprehensive selection of products
  • Coca-Cola – their enduring objective to inspire and refresh the world with optimism and happiness

Brand Value and Equity

Building a strong brand encapsulates unrelenting effort to create value and define the purpose to the market with the unyielding commitment to deliver the promise of the brand.

Focalizing on the company’s core values and ability to constantly adapt and innovate in this changing world ensures that business will thrive for a long time.

Online or Offline Marketing in 2018

Online or Offline Marketing in 2018

Marketing is the lifeblood of any business. Without a well-planned and effective marketing strategy, your company will go down the drain, and much of your effort and finances will be in vain. On the other hand, an effective marketing campaign, whether online, offline or both, will bring new heights to your success as your business grows in sales. So how do you choose what marketing approach to using for your business this 2018? With all the clamor, popularity and efficiency of Online Marketing, how will Offline Marketing fare and keep up? Let’s get down to business and find out which is the best choice for your marketing strategy.

Mediums for Offline and Online Marketing

Offline Marketing is usually the traditional way of advertising for your brand, product or service to promote to the paying public. The following media are used for this type of old-school approach in marketing which had worked then, still works now and probably a bit in the future:

  • Television
  • Radio
  • Billboards
  • Newspapers
  • Magazines
  • Catalogues
  • Brochures
  • Direct Mail
  • Event Marketing
  • Cold Calling
  • Guerilla Marketing

Online Marketing also is known as Digital or Internet Marketing has these channels to hook up the public and convert them into paying customers:

  • Search Engine Optimization
  • Google Advertising
  • Content Marketing
  • Mobile Marketing
  • E-mail Marketing
  • Social Media
  • Banners
  • Online vs. Offline Marketing: Pros and Cons

Budget Cost

Costing is a crucial primary player when deciding how to promote your business. Offline Marketing as we all know requires a tremendous amount of money to spend for airtime in TV and Radio Ads. Online marketing cost is flexible and affordable depending on your need and preferences. Facebook Marketing using cheap FB Ads lets you tweak demographics of your target audience, location, and period. SEO is achievable if you have a right web page and knowledge on how to leverage it, as businesses use 14% of their overall marketing budget on SEO.

Through Online Marketing has reduced cost compared to Offline marketing, experts have predicted by 2018 onwards that it will increase by double digits or 12%-15% rise as more people are spending more time online and mobile than watching TV. Moreover, analysts predicted a 26.3% increase in spending for social media ads.

Measurability and Real-Time Results

The effectiveness of your Online Marketing strategy after implementation can be measured with real-time results by using analytical tools like  Google Analytics. Social Media, SEO, Adwords and email marketing give us accurate information about traffic like clicks, visits, sales, followers etc.. You can always update, tweak or change it anytime knowing a results-based ROI. Unlike in Offline Marketing, conversion can be hard to measure as it is based more on estimation, without the exact data of ROI. You don’t know how many people purchased after watching or hearing your ad.

Targeting your Audience Demographics

Online marketing helps narrow down your specific target audience demographics to help you boost sales, grow followers and convert them into paying customers. The dawn of Artificial Intelligence and Chatbots are changing the mobile landscape of targeting your audience even in messaging apps! On the other hand, traditional marketing channels allow you to direct ads to a very limited segmented audience and medium.

Exposure and Convenience

Maximum exposure of ads in traditional marketing has its limits. It varies depending on your allotted budget, so the longer you want to promote your ad, the more expensive it gets. Online marketing can give you the freedom and access to be visible 24/7 with lesser costs; you can reach a broader, global market even without any physical store. Having a combination of online marketing techniques like using SEO, video marketing, social media campaigns on different platforms will help you gain more exposure and also drive traffic to your online business.

There is never really a one size fits all rule when choosing the right marketing approach for your business. It is, therefore, a rule of thumb to have thorough market research for your product or service before doing anything else. Offline marketing has dominated our way of life since time immemorial while online marketing is steadily gaining momentum and popularity to the growing global populace because of the internet. Whichever strategy you choose, you always have to determine the pros and cons, weigh in your options and always keep your target goals and results in mind!

 

Good And Bad Debts In Business

Good And Bad Debts In Business

Who among us doesn’t have debts? Even for once in our lives, we have asked for someone to loan us a sum of money. In business, it is often the same. Some business owners loan money to put up their businesses; some for additional expenses that it incurs. No matter the reasons are, debt is part of our lives.

What is Debt?

According to the FreeDictionary: Debt is something owed, such as money, goods, or services; an obligation or liability to pay or render something to someone else; a condition of owing.

Debts have two types: Good and Bad.

Types of Debt

Good debt – a debt that helps you generate income and increase your net worth. A business’s good outcome is the main reason for this type of debt.

Bad debt – a debt that put no good for the business; it even depreciates your assets. A type of debt that you incur or purchase that will not benefit your business.

What’s the difference between the two?

It is how it affects the business. If the debt increases the net worth or has a future value then it is a good debt; if it doesn’t and you have to pay for it, it is bad debt.

Examples of Good Debt

Education

Regardless of the business you choose, even if you are an employee, an investment in education should essentially possess by an individual. The greater the education is the possibility of high earning potential. Education can put you in a good-paying job and will open many opportunities. Don’t think about the long journey you take; this is an investment that has a good return and can put you in a good career.

Loaning to put a small business

Putting up a small business is helpful in starting your career. You don’t have to worry about unemployment or waiting for your paycheck because your willingness and hard work will depend on your earnings; you are the boss.

Examples of Bad Debt

Automobile loans

Aside from cars are expensive, it is high maintenance. There are expenses that you have to incur in maintaining your car. Furthermore, purchasing a car is a waste of money, you often pay the interest only. There are times, our payment for the car loans only reduces the interest and not the principal amount. This is not a good investment as time will come that its value will depreciate.

Credit card loans

Like purchasing a car, credit cards, also have interests. In using this, you are paying more than you loaned, a waste of money on your behalf.

Life has no guarantee, and so does debt. From the examples given, like in education, it cannot merely provide you with wealth and success. Pushing yourself harder will help you gain it. You will experience many trials before reaching the top. The good thing about education it gives you an edge over the other; still, it will depend on your abilities and capabilities. Always remember that everything involves risk.

Avoid Getting Your Business Sued

Avoid Getting Your Business Sued

Business set up is not as easy as you think. You have to bear in mind some important matters to help you achieve a smooth running company that runs for a long time. Businesses’ common mistake is violating the law. A smooth sailing business does not need this kind of error.

Common violations the businesses do

Business, same as the owner and its employees, is not perfect. It sometimes happens to encounter some violations. Typical violations are the following:

  • Unregistered or making your business legal.
  • Failing to file taxes and making of the report.
  • Copyright, patent and Trademark violation.

Dealing with the violations

Legality of the business is always a proper precaution. Register your business and give the necessary documents and reports needed. Put in mind your business’ legitimacy to ensure the longevity and to avoid a future lawsuit.

Other reasons putting a business into a lawsuit

Aside from the following mentioned above, another reason to sue a company is a scandalous or libelous act; instances that limit ourselves and forgetting the ethics learned. Fighting your belief sometimes puts us to our limit and ignoring your morals.

How to avoid a lawsuit

  • Watch your word

The business is giving importance to their image. The owner, as well as the employees, should avoid scandalous and libelous act. The overall performance and perception of business matters. Think first your actions for a specific situation. Avoid situations with conflict of interest. The damage is not only on your part, as well as the business’s integrity itself.

  • The separation of personal matters from the business.

Separate personal assets from the company. If you merge personal to business, engaging in a lawsuit will result in your personal assets being dragged. You don’t want to include your holdings in the trial. It separates business from personal and still lets you enjoy the rights and responsibilities of an individual.

  • Put your business on insurance

Insurance will help a company protects itself from any lawsuit that it may face. It protects you and the business from any liabilities. You should also put in your contract that for certain situations, like when the supplier did not fulfil their obligation, you don’t have responsibility for the inconvenience upon completion of specific work.

Final word

Business is important. Handle it like how you treat yourself. Protect it the way we care for ourselves. Aside from the above mentioned, you can also protect your files. Most of the businesses today make the use of a computer. Software, like antivirus, is a necessity to protect their data. Perform a monthly check-up of your computer, provides the necessary backup for the files safety assurance. Having a backup ensures you that whatever happens, you a file to use.

A legal consultant helps a business primarily for insurance and for setting up any document that shows about the enterprise. They help you put everything in writing that says about your business. Aside from this, they are helpful in any lawsuit the company may face.

Signs That It’s Time To Close Up Your Office And Stop Fighting

Signs That It’s Time To Close Up Your Office And Stop Fighting

Starting a business is tough and closing one is even emotionally tougher. As a business owner, we often envision our enterprise to succeed; yet, in life, there’s no guarantee – even in business.

There’s a saying: “A quitter never wins, and a winner never quits”. Yes, it is, yet, this isn’t always true. If you are drain emotionally, then perhaps, it’s time for you to call it quits. Seek in your heart, do you really want to continue the business? Your heart always knows what’s right. Try listening to what it says.

Signs showing a need to close the office or business

  • You no longer recognize yourself

Slowly, you’ll notice a sudden change with yourself. You become impatient, you can’t even attend to special occasions that worry your family. You tend to neglect your family because your focus is on how to save your business. You are not the same you before putting up the business.

  • A Lot to deal with

As a business grows a greater the demand for employees. We cannot do all the works by ourselves. We need to find someone to do the job for us or ask for some help. Apparently, not everyone can afford all the necessary workers you need.

  • The excitement is gone

Excitement is what everyone feels in starting up anything, even for a business. Your workload for the day gives a thrill to you. This feeling subsides as you have responsibilities with a lot of work. Exhaustion replaces the excitement over a period of time.

Additional Warnings

  • You are not meeting the annual capital. Failure to fulfil the annual requirements for a number of times is a big no for any business. It is a significant sign to consider in deciding to close the office or business. Don’t wait further as it can lead to financial losses not only professionally, as well as, personally.
  • The business is affecting your health. Feeling tiredness over a long period of time is unhealthy. You don’t want to keep a business that affects your physical health as “health is wealth”. Money is useless if your health deteriorates.
  • The demand for your product is decreasing. You know how important to consider the needs of your customers. The sign of loving your own products more than the customers is a big factor to consider if you have to continue or not. Suggestions and the needs of your customers are helpful, however, failure to meet them will result in losing customers and your business.

These are signs that give us awareness of stopping and closing our business or office. Furthermore, it is what you feel that matters most. If the following signs are showing up on your face, reflect, listen to your heart. “When it comes to forks in the road, your heart always knows the answer, not your mind.” according to @marieforleo. Our hearts sometimes give us the answer, still, facing it is frightening; answers we never wish to receive, however, they are helpful in decision making, even when it comes to business.