The importance of gathering consumers’ feedback.

Before a new venture starts its operations, either big or small business, it has already a plan to define the routine of work, such as product/service to be offered, price, how to approach the consumer and so on. Having said that, the question is:

Why gathering feedback from your consumer is so important for the company?

               Well, it has a lot of different argues to answer this question; at this post, I will highlight the small business owner perspective.

               By asking consumer feedback you (your brand) will show your consumer that this person is important for the company; it is a great opportunity to build a relationship between brand and consumer, which will contribute to consumers’ loyalty.

               When a company has negative feedback, it means that its consumer experience was bellow of the expectation, which generates frustration that can result in consumer loss. However, the feedback is a unique chance for a company to learn with mistakes and overcome facing customers’ frustration.

               It is fact that an entrepreneur builds the business plan, or plans to launch some new product/service, or even design a customer relationship position into a company in order to prevent any inconvenience to the consumer. However, during the everyday work tasks, any company is subject to mistakes or is just not so efficient for its purpose. Feedback providing by consumers can support the company with continuous improvement.

During my researches for this post, I found this interesting video about this theme. It is a short explanation about customers’ feedback created by Toni Galardo, retrieved from his youtube channel “Tony Galardo”.

            Thank you.

Vinny Lodi.

How to target potential consumers by using the Internet.

Indeed, having an online presence without any planning does not mean that your company will achieve new consumers. Actually, it may take several years for a company goes mass target on the internet. So, why does it happen?

               It happens because doesn’t exist one simple formula to increase the traffic on your website. In fact, it exists a blend of actions that contributes to increase your online presence. It is hard to say that some factors are better than others because it may vary according to the type of audience. However, find below some tips that can be useful independent of your segment.

  • Do creative and high-quality posts: the better your content, the helpful it will be for your consumers. Therefore, more people will access it.
  • Know your target and their influencers: Identify the group of people that you want to target is key for its process. Think about having an influencer promoting your company for a big number of potential consumers.
  • Build Relationship with your consumers: The interaction with consumers is very important in this process. Through this action, your brand will build a loyal relationship with its consumers.
  • Remember! A company’s profile is not the same as a Personal profile!
  • does it mean? 
  • means that in a professional profile, you have to filter the content that you will post. If your company post content that your audience judge to be inappropriate your company will be in trouble. Always before post something in a company’s page think about these questions:
  • Is it relevant for my audience?
  • Does it add value for my brand and audience?
  • Is it important information for my audience?
  • these answers were, “yes” go forward!!!
  • you want to see more details about it, I found an amazing post on enterpeneur.com, I’d like to share with you the link below.

https://www.entrepreneur.com/article/283832

Thank you!!

Vinny.

The Importance of Having an Online Presence.

Okay, So currently it became a jargon to say that for a company, no matters its size, is important to have an online presence. In fact it IS important, however, How can we explain to a person who owns a company for several years and “Never did it before and the company still worth” or “we always did it that way and we don’t need to change”?

If you think in this way or know someone that does, I will point some reasons to change your mind.

  1. The new “yellow pages”: The world change because the generations change their behavior. While kids used to play with their toys such as the vintage collection of star wars toys in the 1980s, nowadays kids play with their high tech videogames with 3d effect. Going in the same direction, the research engine tool in the past used to be yellow pages, but now, we have Google between others, having an online presence is important to make it easy to be found for your potential consumer.
  2. Mass exposure of your products and services line: while in the past companies needed a sales representative to present its products and services line for a potential consumer, currently a company can upload its entire line on a website and let anyone who has interest in know what kind of product and service the company offer.
  3. Interact with consumers and Gather instant feed-back: I know, I already posted about it. But, it REALLY is important. Back in the past, to build a relationship with consumers was a challenge because it was a “one-way communication” companies used to take a long time to take feed-back and build a contingency plan when it was necessary. Nowadays, the internet provides us a “two ways communications” companies can actually talk with their consumers, gather feedback take a contingency plan when is the case. In addition, this interaction helps to build a strong relationship which results in the loyalty part of consumers.

So, if you think that having an online presence is not important, I hope this post convinces you to change your mind. What is your opinion about it?

Vinny Lodi.

Digital Marketing: The new Tendency of Advertising.

To survive, companies, no matter its size are required to invest part of its annual budget in advertising. It is common for big companies to have in house departments to stipulate the best way to do so, such as the medium of communication as well as budget to be invested in each channel. On the other side, small companies can struggle in order to execute their advertising campaign because of limitations on their budget or lack of knowledge. Its consequence can be, but not limited to, lack of communication with its audience, waste of time and waste of money.

Digital Marketing increases the chances for a company to target its audience in different ways and solve the lack of communication and the waste of time problems due to the number of tools and applications available on its channel. Nowadays, it is possible to use this channel to reach a specific group of people targeting your audience in a personal way and at the same time achieve a big number of potential consumers.       

Digital Marketing is the new tendency of advertising because it can avoid a waste of money. It is proven that social media platforms made it easier for small companies to create their Digital ID. It is a low-cost way to build a relationship with consumers and receive feedback. Also, through social media platforms, a company can advertise its products/services, gather testimony of consumers that had good buying experiences and spread its community.

       Finally, according to 360psg.com “Over one-third of CMOs believe that digital will account for 75% of marketing spend in the next five years” (The difference between digital marketing & traditional advertising). It shows that Digital marketing revolutionized the advertising way and become part of every day of the population.

       It is important to say that before build a marketing plan or advertise on the internet is important to search about your industry, consumers’ preferences and keep your eyes on your competitors’ actions.

Strategy and Implementation.

Resultado de imagem para imagem de executivos trabalhando

Currently companies have to be aware about their Market. With instant information have a good strategy is fundamental for success. However, it is common to see companies failing in order to implement their strategy plan. Although each strategy’s plan has its own indicators and ways to measure results, here are some tips to support the success to implement yours plans.

                First, define your objective; has a clear objective key to set your strategy. (E.g. Think in a GPS; if you know the address that you want to go, it will find the best way.)

                Second, make it simple; many companies struggle themselves because try to implement a complex plan for small problems.

                Third, know who is the right person to execute the job; know who has the right characteristic to delegate a task can make difference between success and failure.

                Fourth, pay attention in order to choose metrics to measure the plan’s status; some companies don’t measure the progress of their plan, or choose wrong metrics to do so.

                Fifth, set contingency plans; before implement a plan always ask the question; If this plan doesn’t work, what will I do?; in that way you can fix your plan right the way.

                If you want to learn more about it, see bellow this interesting post.

https://www.executestrategy.net/blog/guide-to-strategy-implementation

thank you.

Vinny.

Social Media Marketing

Resultado de imagem para foto midias sociais

                It is common small to see small companies failing to reach its audience due lack of knowledge and limited resource. Nowadays, thanks the internet and incredible media channel that social media platform are, a small company can build a profile and interact with its consumers FREE. SOCIAL MEDIA Platform is a website that allows people or companies create a profile and build their own network based on most various themes. Thinking in a business profile, a company can reach and interact with its possible consumers. Currently, the main social media webpages are Facebook, Instagram, Twitter and YouTube.

                In order to create a professional profile at social media platform, make sure that you search some tips on the internet. Remember build a professional profile is not the same thing to build a personal profile. In others words, consumers is looking for companies that shows credibility and transparency; be aware about it can give you extra points with your possible consumer.

                If you want to learn more about it, see the link bellow:

https://www.wordstream.com/social-media-marketing

Thank you.

Vinny.

Digital Marketing

Resultado de imagem para digital Marketing pics

What is digital marketing?

What new things does it brings?

Why is it so important nowadays?

First, Digital marketing is marketing products/services using the internet or any other type of digital medium.

Digital Marketing is trend in the current days for 2 reasons:

  1. Currently people spend more time than never on the internet.
  2. Using Digital Marketing a company has many different ways to target its audience.

In fact, digital marketing gives new possibilities to a company spread its brand and build a relationship with its consumers.

Sometimes small companies can struggle in order to create a digital marketing strategy or even fail to be active on social medias platforms for different reasons; the high cost of specialized service or little knowledge about the theme.

In the following posts, I will approach Social Media platforms as a Digital Marketing tool and gives some tips of build a digital ID for a company.

Vinny.

Goals, Strategy, Objectives and Tactics

Okay, now we have learned about some of the most importante techniques to analyse the Market. The next step is build an efficient strategy. However, first I’d like to introduce the difference between goals, strategy, objectives and tactics.

Know the difference between each other is important to set priorities, and supports to keep the focus on right direction.

Retrieved from: itsguru.com/difference-goal-objective-strategy-plan/

I found the follow definition at forbes.com, and I can’t define it better.

  • “A goal is a broad primary outcome.”
  • “A strategy is the approach you take to achieve a goal.”
  • “An objective is a measurable step you take to achieve a strategy.”
  • “A tactic is a tool you use in pursuing an objective associated with a strategy”

To learn more about it visit the page:

https://www.forbes.com/sites/mikalbelicove/2013/09/27/understanding-goals-strategies-objectives-and-tactics-in-the-age-of-social/#169c48054c79

Vinny.

P.E.S.T. Analysis

Continuing my posts about Marketing tools, I have to say that the key for success is to integrate the more number of analysis that is possible to build a Marketing Plan. As part of Marketing Plan you will find the P.E.S.T. analysis. The objective of this technique is to outline external influences that affect a company, it is important to avoid potential threats and take advantages of opportunities into the market. P.E.S.T. analysis is the analysis of Political, Economic, Social and Technological factors.

Political Analysis:

  • Political Factors (e.g. stability and election).
  • Taxes and fees.
  • Wage, overtime.
  • Mandatory employee benefits.

Economic Analysis:

  • Government intervention in the free market.
  • Comparative Advantages.
  • Economic growth rate.
  • Inflation rate.

Socio-Cultural Analysis:

  • Demographic.
  • Class Structure.
  • Education.
  • Culture.

Technological Analysis:

  • Technology’s impact on the product or business.
  • Impact on cost structure
  • Impact on chain structure
  • New technologies.

After analyze those factors think about what potential threats and opportunities the market has for you. For learn more about this powerful tool check the link of the detailed explanation that the website mindtools.com prepared.

https://www.mindtools.com/pages/article/newTMC_09.htm

Thank you.

Vinny.

SWOT Analysis.

SWOT Analysis

One of the most popular tools among marketers this simple and effective tool helps to Understand the situation that the company is into the Market as a player; This tool is important for a business identify its Strengths and Weakness to outcomes Opportunities and avoid Threats:

  • Outcomes the company’s Strength’s (Differentiation).
  • Understand the company’s Weakness, therefore, support to develop the strategy to improve it.
  • Highlight Opportunities in a niche that can be explored.
  • Avoid Threats that external influences can bring.

See the chart below elaborated by corportatefinanceinstitute.com:

SWOT Analysis Matrix

If you want to know more about SWOT Analysis take a look in the following link that corportatefinanceinstitute.com prepared explaining in detail about it.

https://corporatefinanceinstitute.com/resources/knowledge/strategy/swot-analysis/