There are lots of scary statistics peddled online about the possibility of a startup succeeding. Most of them claim that more than 50 percent of businesses fail within the first six months and that more than 80 percent do not celebrate their first anniversary. The reality, according to Forbes, is that more than 80 percent of startups indeed make it past the six-month mark. If you are starting a business, you don’t have to worry excessively about losing the company. As long as you have a solid strategy and take care of your business’ day-to-day needs, your business will have the foundation it needs to succeed. Here are a few factors that can help your business take off.
Product Differentiation
Not many people realize that it’s difficult to come up with a unique business idea or a commodity that isn’t already represented on the market. Even if you come up with a unique product, someone will be working day and night to add value to your idea and present it better as soon as it hits the market. If you want to thrive in the marketplace, you have to create a product different enough that customers seek out your product instead of choosing others in the market.
Product differentiation can take any form. For instance, may healthcare products market themselves by stating that they are made from all natural and organic ingredients. This value addition sets the products apart from all their artificial counterparts in the market. Differentiation can also be in the way that you package and deliver your goods to customers. As long as there is a marked difference that makes your customers prefer your products to those of a competitor, you are doing well in product differentiation.
Related: UserTesting.com | 7 Customer Experience Tips for Differentiating Your Company
Focus on Your Brand Image
When people reference “brand image,” most people think about business strategy, sales and all other marketing gimmicks that create a brand image in the minds of their followers. However, there is an aspect of brand image that most people forget: the impression clients get when they interact with your business, whether it’s an online order or a purchase at your brick and mortar establishment.
Most business owners tend to forget that their first and most important client is the internal client or the employee. If you want your employee to give you great service, you have to ensure they are working in a clean, encouraging, and positive environment. Things as simple as a clean office keeps employees healthy and productive. This also provides clients with a confident, polished first impression of a clean and organized office, which is a great jumping-off point on which to begin your business relationship.
Related: SouthernCrossCleaning.com | Keep Your Office Healthy and Productive with an Office Cleaning Checklist
Improve Public Relations
Most people who are starting small businesses have the misconception that public relations is for big brands that have the economic muscle to hire entire agencies to handle their PR. However, there are things you can do to leverage the image of your brand, no matter how small it is. The best thing about doing business in the 21st century is that with the advent of digital communications, having a killer PR campaign is anyone’s game, and you do not need a massive budget to make it happen. All you need is to establish a following and presence in popular social media channels, and you can begin a positive conversation about your brand online.
The process of doing PR has also been simplified by the fact that the traditional influencer is changing. You do not have to use millions of dollars to get a celebrity with a million followers to say something good about your brand; sometimes, all it takes is a number of positive reviews from regular customers. Just treat your customers right, and they will do all of your PR for you at no cost.
Related: ScottLeRoyMarketing.com | 6 Public Relations Tips for Small Business Owners
Get into Social Media Marketing
Gone are the days when you need a team of marketing specialists to conduct market surveys and come up with a killer marketing strategy. Today, social media pages have built-in analytics that are simple to understand and interpret. Many free digital marketing tools offer insightful business intelligence. With good CRM software, you will run your own marketing as smoothly as the large corporations if not better.
These are a few often overlooked techniques that help upcoming businesses succeed with their marketing. Adopt them and see your brand move to the next level.
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