Displaying items by tag: Small Business - Page 2
Entrepreneurs are a unique breed. I know. I am one of them.
It use to be a word that was used to describe the unruly small business owner who spruiked their new businesses from the rooftops. Kind of uncool.
Now, its a word associated with billionaires, A-type personalities, game-changers and fairly much anyone who is "having a go" at business. This is cool - the innovative kind.
When lambasted with questions on what 2014 will look like for small business marketing through social media, I, an entrepreneur who does wear Prada, am as excited as ever. What really is in store for small businesses and how can they capitalize on new, innovative and customer-centric marketing techniques aimed at giving small businesses (and large if I am to honest) a greater insight to customer interaction and push-buying techniques.
Here is the 2014 Outlook for Small Business Marketing
Co-founder Jack Dorsey, a 36 year old tech titan, and now CEO of small business payment technology, Square, has built his billions on knowing what small businesses want and need. Square is the fastest growing small business payments technology in the world today, and through his small business meetings in Town Halls throughout the US, Canada and Japan, #letstalk, he is educating small business owners to talk and support each other, rather than work alone.
Here is what I had to say:
"Small businesses are the backbone of the Australian economy.
There are over two million small businesses in this country, which provide approximately seven million jobs and comprise up to 20 per cent of the national economy.
With a Federal election looming and a new Prime Minister to be appointed (or, in Kevin Rudd’s case, a returning Prime Minister), small business owners will be eagerly and nervously awaiting party platforms that impact them.
I understand the pressure and considerations of running a small business more than most. I founded my first business at age 25, and in 2004 established Marketing Eye, Australia’s leading marketing consultancy firm for small to medium businesses.
Yesterday, I put in a phone call to Bond Street 180 business turnaround guru Daryl Wright and asked what he considered to be the most important things for small business owners to consider ahead of 2013. Here is what he had to say.
Most marketing strategies will be firmly in place for next year, but for those who have left it too late, there are a few things that you need to consider.
- If you look back at 2012, you will realise how much things have changed.
- Facebook listed and fell flat on its face, but woke up with more than 1 billion registered users.
- Pinterest came to the forefront and became the fastest growing social media platform on the planet.
- Instagram bagged a billion bucks with only enough employees to count on your two hands.
- People like www.jeffbullas.com out of downtown Sydney became a global social media phenomenum just by writing blogs that are interesting and knowing the rules of engagement for content creation and exploitation.
- No-one in the world sees their website as a brochure anymore (although many still haven't done anything about it)
- Google is going from strength to strength
- Linkedin company pages are essential to any companies "winning" strategy
- Old-fashion marketing is having a revival of sorts with DM pieces still having impact ONLY when they are super duper creative
- The US is still feeling the pinch and Australia is seen as a sound performer with a strong Aussie dollar and an economy that hasn't yet fallen flat on its face
- A woman is the richest woman in Australia - thanks Gina Rinehardt for flying the flag
- Obama won a second term as President of the United States of America
- 12 months since Steve Jobs passed away and Apple is going remarkably strong with the launch of a new ipad mini
- Microsoft launches Windows 8
- The prophecy of a major disaster with 'the end of the world' is still growing in momentum
In light of the above, where from here?
Marketing Strategies need to be aligned to a company's overall business plan. It underpins the overall sales plan and creates the forum for which sales can occur.
Businesses that have put on the hand brake because the year has been turbulent from an economic perspective, are being surpassed by their less successful competitors who have invested heavily in marketing and reaping the rewards of a strategic approach to doing the opposite of everyone else.
A clever marketing strategy in 2013 is being revised right now. The reason is simple - so many things have changed and to truly have a marketing plan that is effective, there may need to be some tweaks. Don't be afraid to do this, as one of the big benefits of being a small business is that you have the ability and scope to be flexible.
Take into account;
- Changes in search engine optimisation algorithms
- Pinterest and what role this social media platform plays in your overall marketing strategy
- The rise of Instagram
- Online influencers and how your business is reaching and engaging with them
- Traditional media versus new media
- e-Marketing and its role in driving leads
- Branding and positioning in a new world
- Collaboration with key partners and alliances
- Global expansion in light of economic uncertainty
- Fast growing markets with scalability like China, Turkey and India
- Outsourcing of key roles in marketing, finance, human resources etc
- People in your organisation and what role they play in building your business
- Investment in online marketing
- Your website - if it is dead, bury it. Build a new one that is "today" and not "yesterday.
What will you change in 2013?
Businesses that do not engage in a strategic marketing plan, often find that they are chasing their tail. They fly by the seat of their pants and have no real sales and marketing strategy in place. Instead of being proactive, and placing key performance indicators behind each and every marketing investment, they generally go with 'gut instinct' or what is available at any given time.
My last call, was very interesting. It was from an interstate online business looking to grow their business-to-business client base.
After chatting for 20 minutes, it became apparent that the business was not suited to Marketing Eye. They pushed to receive a proposal even though I had already told them that they were not suited to our format of working with clients, and then even after saying this, they proceeded to provide me with a gmail address.
Are you serious? Do you think in a business to business environment, that it would be appropriate to provide a prospect or anyone else for that matter with a gmail address? Do you really think they will take you seriously?
In the dotcom boom, everyone who was not inventing an online business, were buying up shares so that they felt part of it. The problem was, that by the time the publicity hits and consumers are encouraged to buy shares, the fat cats in corporate finance and early investors have already made their dough.