POST CATEGORY : Marketing

Secrets Top Companies Use to Thrive in New Markets

Key Takeaways:

  • Expanding into new markets offers significant growth potential for small businesses but requires a strategic approach to navigate unfamiliar challenges and establish a strong presence.
  • Conduct thorough market research to understand customer behavior, competitors, and regulatory requirements.
  • Focus on high-value customer segments rather than a generalized approach to optimize resources and better meet local demands.
  • Partner with established local businesses to gain valuable insights, enhance credibility, and navigate logistical challenges.
  • Stay adaptable by closely monitoring feedback, adjusting strategies as needed, and implementing localized branding to resonate with new audiences.

Business expansion

Expanding into a new market is more than just a growth strategy — it’s a calculated move that, when done right, can skyrocket a company’s reach and revenue.…

Continue reading →

The Price War Problem: How Small Businesses Destroy Each Other

Price wars often begin innocently enough—one business lowers its prices to attract more customers, and competitors quickly follow suit. However, what starts as a strategy to gain market share often spirals into a destructive cycle where everyone loses.

Price wars

photo credit: Karolina Grabowska / Pexels

In this article, we’ll explore how price wars undermine small businesses, why they occur, and how businesses can escape this self-destructive cycle.

The Anatomy of a Price War

Price wars are not just about competition; they’re about desperation. When small businesses lack differentiation, pricing becomes the battleground. Here’s how it usually unfolds:

  1. The First Shot: One business lowers prices to attract more customers, believing they can absorb the reduced margins.
…Continue reading →

5 Deadly Sins of Marketing a Small Business and What to Do Instead

If you own a small business, then you probably know that marketing is crucial. You need to let your customers know that you exist. The first step toward getting them to buy your products or utilize your services is to get your name out there.

Promoting business using megaphone.

A Milwaukee advertising agency might be the answer. You may also handle your own marketing if you have the time, money, and necessary skill set.

Whichever option you choose, you’ll want to avoid some of the worst marketing mistakes that it is possible for a small business owner to make. Let’s run through five of those right now.…

Continue reading →

10 Problems with Small Business Digital Marketing

In today’s digital age, online marketing is crucial for small businesses looking to thrive. Yet, despite the abundance of tools and platforms available, many small businesses struggle to get digital marketing right. From limited budgets to knowledge gaps, there are several problems that prevent small businesses from leveraging the full potential of digital marketing.

Digital marketing

Here, we’ll explore ten common challenges that small businesses face in the digital space and provide insights on how to overcome them.

1. Limited Budget for Advertising

One of the most significant issues small businesses face is budget constraints. Digital marketing is cost-effective compared to traditional marketing, but it still requires a budget for paid ads, SEO tools, and content creation.…

Continue reading →

7 Lessons your Small Business Can Learn from Memecoins

In recent years, a peculiar phenomenon has taken the financial world by storm—memecoins. These quirky, often humorous cryptocurrencies have surged in popularity, defying traditional market logic and generating cult-like followings. Memecoins like Dogecoin, Shiba Inu, and $PEPE were initially dismissed as internet jokes, yet they’ve cultivated massive communities, achieved wild valuations, and, in some cases, resulted in life-changing gains for early adopters. While their success stories may seem whimsical or fleeting, they contain valuable lessons for entrepreneurs, especially small business owners looking to stand out in a crowded marketplace.

Supportive community

So, what exactly can your small business learn from the memecoin craze?…

Continue reading →

10 Proven Ways to Market an Online Store

If you own and operate an online store, then you have entered what is called the eCommerce space. eCommerce has been around for almost as long as the internet has. There are many individuals who make a very comfortable living selling products and services online. Some even reach billionaire status, like the founder of Amazon.

Online store marketing

If you have started an online store, and you would like it to be competitive within your niche or industry, then it is vital that you figure out the best ways to market it. You might hire a marketing strategy agency if you need some advice in this area.…

Continue reading →

Max-Josef Meier and Melanie Perkins: Democratizing Design in Digital Platforms

In the rapidly evolving digital landscape, some entrepreneurs stand out for their ability to simplify complex processes and make them accessible to a wider audience. Max-Josef Meier, co-founder of Stylight, and Melanie Perkins, co-founder and CEO of Canva, are two such visionaries who have revolutionized their respective industries by democratizing access to fashion and design.

Democratizing design

Max-Josef Meier: Simplifying Fashion Discovery

Max-Josef Meier’s journey in digital innovation began with Stylight, a platform he co-founded in 2008. Recognizing the fragmented nature of online fashion retail, Meier set out to create a solution that would simplify the process of discovering and comparing fashion items across multiple retailers.…

Continue reading →

11 Ways Brand Identity Is a Dying Art

Brand identity once stood as a cornerstone of business success. It was the pulse of a company’s personality, setting it apart in an ocean of competitors. From the logo to the tone of voice, brand identity was more than just a marketing tactic; it was a long-term strategic asset that resonated with consumers.

Nike brand narrative

But in recent years, we’ve seen a shift. Something essential has begun to wane, and brand identity is slowly becoming a dying art. Below, we explore 11 reasons why this is happening.

1. The Rise of Short-Term Thinking

Today’s market thrives on instant gratification. Marketers and businesses have turned their focus to campaigns that deliver fast, measurable results, often at the cost of long-term brand identity.…

Continue reading →

How Marketing Ruins Your Industry (And How to Deal with It)

Marketing has long been heralded as the lifeblood of business, the engine that drives growth, brand recognition, and customer loyalty. It’s the discipline that transforms obscure startups into household names and propels industry giants to even greater heights. But for all its power and potential, marketing can also be a double-edged sword.

Marketing strategy

When wielded carelessly or aggressively, it can wreak havoc on entire industries, triggering price wars, promoting unhealthy competition, and fostering a culture of dishonesty and short-term thinking.

In this article, we’ll explore the darker side of marketing—the ways in which well-intentioned strategies can spiral out of control and end up harming the very industries they aim to elevate.…

Continue reading →

Smart Spending, Smart Growth: Maximizing Your Marketing ROI

Marketing for growth

  • Explores financial strategies for maximizing marketing ROI, emphasizing the importance of financial discipline in marketing investments.
  • Discusses key performance indicators such as profit margin and return on ad spend to measure the financial health and impact of marketing efforts.
  • Highlights cost-effective marketing solutions like matte laminated stickers and the benefits of automation and performance-based pricing.
  • Recommends regular financial performance reviews and benchmarking against industry standards to enhance marketing efficiency and long-term growth.

The financial significance of ROI in marketing is immense as it measures the efficiency and profitability of investments made in marketing efforts. For small businesses especially, where every dollar counts, emphasizing financial discipline in marketing investments is crucial.…

Continue reading →