Changes in Online Marketing Strategy Since 2010

geoffrey-byruch-marketing2010In a world where digital marketing updates every day, how could you create an effective marketing strategy? Since 2010, several changes have transformed digital media, which led many businesses to disappear.

There have also appeared success stories from entrepreneurs who adapted to the new program grew even more. These are the major updates that have changed paid advertising and content marketing, and we are explaining how you can use them for your advantage.

Advertising Tool Modifications

Before 2010, there weren’t as many marketers as they are today. You could post any information with the right keywords, and Google would position your page with little advertising required.

Even though this no longer happens today, it is not necessarily a problem as long as your company is differentiated enough. Email marketing is the sector that has experienced the most intense changes for the last nine years, increasing the price of customer acquisition ridiculously.

What if we could drop the advertising costs again?

Digital marketing will not go away, and going backward is not an option. What we can try is reducing competition to almost zero.

The way lead-generators work today has changed into a model more beneficial for the customer in the long term. Depending on the connection established with the visitor, it may become a recurrent customer that pays you off after a certain time.

You can use this as an advantage to beat new sellers by knowing what the average ROI of your email list is. This information is a reference to set your advertising budget and outbid the competition.

Content Marketing As The Top Priority

Content Marketing is the invisible force that generates leads for your email lists, followers for your social media, traffic for your website, and sales for your company.

You can create these connections with your visitors by sharing content that looks interesting, includes useful information, and interacts with the reader.

The newest trends in content marketing will be the creation of online social communities, online video streaming for mostly Q&As, games, and surveys, among others.

For long-term strategies, the best content is the one that makes the visitors experience better with every new visitor that discovers your brand.

Debunking Common Myths About Entrepreneurial Leadership

geoffrey-byruch-mythsWhether you are an entrepreneur or not, limiting beliefs can stop us from being successful. Most of these statements are not easy to prove wrong, which keeps some entrepreneurs stuck in their careers.

How many times have you heard this expression? ‘Whether you believe you can or you can’t, you are right.’

We base our actions on the perception of ourselves, which depends on our beliefs. We will present some of the most popular statements that struggling entrepreneurs make, so you can avoid them and build your empire.

Leaders Shouldn’t Show Expose Their Weaknesses

People know that nobody was born being perfect. Yet, we use to see experts as someone who doesn’t have to improve their skills anymore. If a master makes questions and listens to others, he could not be a leader. It cannot be further from the truth.

People who have fewer flaws are the ones who have exposed many problems over their careers. Being an entrepreneur involves exposing fifty weaknesses at the same time. The person who solves the biggest problems becomes the leader.

An expert has to reinvent oneself and spot his weaknesses before a competitor comes and outworks him.

Entrepreneurs work in the business

Working in the business is quite common among beginner entrepreneurs, who are working on the service in person. The problem with this approach is the lack of leverage. Each person has a customer capacity to deliver the best quality results. Since resources are limited, any customer acquired after that limit will make the customer experience worse.

You should work on your business as a CEO, which involves using your capacity to lead a team of experts. Qualified human resources and automated software have almost limitless capacities, being able to serve as many clients as necessary.

In short, the executive leads the team, and the team offers the service to the public.

There can only be one leader

The purpose of every leader should be turning the team members into leaders for their own team. If the entrepreneur wants extraordinary results, the team should not limit to follow the fixed objectives. It is vital to have leadership values such as initiative, over-delivering, communication, and management.

The Importance of Transparency in Entrepreneurship

There are many factors that go into having successful entrepreneurship. Aside from time and dedication, there must be a large degree of transparency. As an entrepreneur, it’s important to be completely open about your business’s performance, history, motivations, operations, and other information. Offering more transparency in these areas encourages consumers and even investors to be more loyal:

 

Social Media Transparency

One of the easiest and most convenient platforms to be transparent with consumers is social media. This is the best place to share personal thoughts and ideas to connect with consumers. Social media is also a great platform to learn of the likes and dislikes of those interested in your products or services. Nowadays, many people use social media platforms for questions, comments, and reviews. By having an active role in your social media platforms, you are better able to access the wants, needs, and constructive criticism.

 

Transparency From Within

Although remaining open and honest with consumers is very important, it’s equally imperative to be transparent from within your business. If your employees don’t feel the company is transparent with them, then they’ll have a hard time portraying transparency to the marketplace. Be open about the progress, risks, and opportunities of the company. This will encourage employees to be transparent and passionate about business operations to consumers. 

 

Distrusting Corporate Business

Over the years, the public has grown a bit distrusting of corporations. Many don’t feel corporations are often completely honest with their customers. To aid this, it’s important for businesses to gain back their trust. In order to do this, it’s imperative to be as transparent as possible. As an entrepreneur, you need to show that your main goal isn’t just about making a profit and make it a point as to why customers should trust your business. 

 

Make Information Available

In today’s day and age, everyone expects information to be available in seconds. If information about your company isn’t available with just a few clicks on their laptop or phone, customers will be less interested in your business and feel you have something to hide. In order to avoid customer distrust, be as open as possible and have your businesses information at the ready. 

As transparency becomes a larger demand in entrepreneurship, many more companies must make it a priority. The future of business will see companies becoming more open about their operations and motivations, building greater trust with their partners, investors, and customers.

Avoiding Common Mistakes in Small Business Ownership

Owning a business can be very intimidating, even when owning a small business. The pressure to be successful is always a hindrance, especially when competing with larger businesses. There are common mistakes small business owners make along the way that could have been easily avoided. In order to ensure the success of your small business, it is imperative to avoid these mistakes:

 

Failing to Plan

No matter the size of the business or how it got started, there must always be a business plan. This is vital to the success of the business and what will help it stay on its feet. Although it can be a bit tedious and seem pointless, it’s the most important step to running a business. Make sure to do the proper research and identify the market potential. Before your business takes off, be sure to have a business plan, marketing plan, and financial plan in place.

 

Undervaluing the Business

Whether it be lack of confidence or lack of proper market research, a common mistake first-time business owners will make is undervaluing their products and services. This could ultimately lead to a business’s failure because they’re not realizing their uniqueness and the value of what sets them apart. In order to avoid this, it’s important to do extensive market research to understand your value. Instead of realizing you’ve been undervalued when it’s too late, identify your best selling start price ahead of time. 

 

Hiring Too Late

When a small business first gets off its feet, often times there aren’t many employees. This is normal, but shouldn’t last for very long. When the business finally gains momentum and starts to take off, often times they haven’t hire the right amount of employees to assist with the growing demand. Waiting too long to hire can lead to hiring incompetent employees which can reflect poorly on your business. It’s important to delegate small tasks at the beginning instead of waiting until you are desperate. 

 

Not Having a Website

In today’s new technology age, not having a website for your business is a death wish. Every business, no matter what kind it is or the products they sell, must have an online platform. Not only does this give your business instant marketing, but it also establishes itself as professional in the eyes of consumers. There are many web-hosting companies that will host your site, design, maintain, and market it for you for very low monthly prices.

Handle Entrepreneurial Stress like a Professional

geoffrey-byruch-stressIn being an entrepreneur, you have to learn to juggle many different ideas, projects, and tasks all at the same time. This must all be done while you are also trying to build up your own company and create success within your business. One of the significant issues that come into play when entrepreneurs are dealing with multiple things at one time is stress.

Stress is something that hits us all in different ways when we have too much on our plate. The way we handle stress is essential to whether we are successful or not. Not managing your stress can lend itself to a great deal of failure in the entrepreneurial world, and your business will suffer because of it.

Understanding the effects of stress and what causes stress are the first steps to success and also healthily dealing with stress. When you are stressed, your mind automatically begins to think negatively and therefore, shuts down the possibilities of innovation and utilizing your brain to its full capacity. The best thing you can do is realize you are indeed stressed and make a choice to think positively with a small amount of stress. This way, you will continue making plans and ideas that will push yourself and your company forward.

Another way to handle your stress is by removing unnecessary worry. A lot of times, entrepreneurs and business leaders take on a lot at once, and many times, they worry about things that are out of their control. Take the time to make a list of everything that is currently on your mind and stressing you out. Then go through and either delegate things to others or shift your focus from the things that aren’t yours to handle to the issues you can personally deal with.

Instead of continuing to take on project after project or even more clients than your company can handle, just to grow your business, only take on what you can complete right now. If your business is not ready for the influx of clients, then do not take the extra work onto your plate. The same goes for projects. Learn to delegate and take work off of your plate and give it to others who have the extra time to do it. This removes the continued downward spiral of work piling up on top of the work that is already there. It will also help to remove that stress for you.

Managing Customer Relationships in Your Small Business

geoffrey-byruch-handsThere are a few key items that your small business should value, but the most important are the customers. They form the backbone that helps the business achieve its goals, fulfill its mission, and realize financial growth. Experts advocate for small businesses to invest heavily in the realization of their goals by taking a series of measures that focus on managing customer relationships. Here is an idea of how your small business can approach the entire concept of customer relationship management.

Understand your customers first
The first thing to do is to build an overall and individual understanding of your customers by coming up with an appropriate profile of every customer in the business. The profile should be comprised of valuable information such as the customers’ details among other personal but insensitive details. The profile created helps your business to gain an overview of what to do in the bid to nurture a good relationship.

Express passion and sympathy in customer service
The next step is to develop a well-integrated system within your customer service department where customers are handled passionately and with emphasis on empathy. When serving your customers, expressing genuineness gives them the impression that your business is caring and thus outstanding.

Invest in CRM solutions
The entire concept of managing thousands of your businesses’ customers can be so complicated and challenging. To make your work easier, you may need to invest in the various CRM solutions designed for small businesses. Such solutions come in handy in helping your small business to manage its customers efficiently without having to worry about the multitude of data that you will have to deal with.

Build a long-term relationship
Customer relationship management should be approached as a long-term project and idea. The relationships you target and build upon can exhibit benefits if they are nurtured to maturity in the long term. It, therefore, requires patience and emphasis on resilience to ensure that such relationships endure the test of time.

Incorporate CRM in your marketing
When marketing yourself to your existing and potential customers, it is important to consider nurturing good customer relations. You may, for instance, focus on giving your existing customers incentives and offers to help build a strong and continuous relationship. Incentives such as offers, discounts, and other forms of customer engagements by your business help create a good impression.

How the Internet of Things is Changing Small Business

geoffrey-byruch-iotThe small business community remains both progressive and ever-changing, and this is arguably best reflected in its embracing of modern technology. The internet of things (IoT), or the embedding of interconnected devices, stands as a key example of such innovation; from heightened time management to increased mobility, its benefits have only grown more profound in recent years, leading more small businesses to consider IoT-based investments.

Here are a few ways the IoT is currently shaping small business.

General productivity

Broadly speaking, the IoT has shown potential in enhancing internal productivity; this currently being observed on a variety of fronts:

  • Virtual assistants and other bot-based resources have increased efficiency by saving time spent on small, yet collectively hindering tasks — from payroll fact checking to the ordering of office supplies.
  • Some IoT workplaces have observed stronger time management tendencies thanks to interconnected scheduling devices. Workers utilizing a Google suite, for instance, are able to stay on top of daily obligations both at their desks and on the go via connected mobile devices.
  • Detailed business insights stemming from IoT technology have grown into a new analytical norm. Many businesses, especially those previously lacking in proper funding, are now able to effectively track and interpret key customer data via their own connected devices, accessing a potentially vast amount of data in a manner that is both quick and, in many cases, cost-friendly.

Equipment management

More specifically, the IoT has made it easier for certain companies to track and maintain equipment and products. IoT sensor technology is currently revolutionizing inventory management, a variable that, like customer data, may have been difficult to broadly oversee in the past while remaining efficient. Higher level supply chains are now able to tap a culture “rich in analytics, insight, and contextual intelligence and accountability for results” (which itself hinges on advanced IoT functionality) without sacrificing time otherwise spent on complex aggregation and subsequent insight analysis — not to mention the additional time spent on physical equipment errors.

With these notions in mind, it is easy to see why business-to-business (B2B) applications of IoT are currently expected to exceed $300 billion in annual revenue by 2020.

Incorporate Pinterest into Your Marketing Strategy

When your business is trying to find the right digital marketing strategy to utilize, there are so many options to choose from. This is especially true when it comes to social media platforms. Because there are lists of different profiles to use, it’s essential to know which is best for your business and which one will give you the most bang for your buck.

One of the great things about digital marketing is the fact that it can be relatively less expensive than regular marketing tactics such as magazines, billboards, and television ads. This is one of the main reasons small businesses look to digital marketing to achieve their goals without having to put all of their money into a few methods that may not bring in their target audience.

To many business owners, Pinterest may not always seem like the “go to” social profile to use for engagement and gaining followers. But, it is in fact, beneficial when you are in the business of selling products rather than services. Pinterest has such a broad reach which can help your business gain a new audience with the proper utilization.

Be sure to become familiar with what the site is used for before developing a digital marketing strategy around it. This is true for any social media profile you decide to use in your business, so you understand the language and differences of the particular media.

One of the first things you should do when either creating your Pinterest business profile or updating a current one is making sure you are indeed registered as a business profile instead of the standard personal site. This will give access to analytics so you can track engagement, audience, followers, and people who view particular boards and pins.

When you begin to create pins, be sure to make them eye-catching to draw attention and gain followers. You will also need to fully optimize them by adding a photo, title, description with relevant hashtags, as well as your keyword.

Pinterest also offers the option to schedule your pins so they will post at certain times as well as paying for advertisements. The profile gives a wide range of options when it comes to paid advertisement depending on your company’s needs. This would include carousel ads, promoted pins, as well as video ads.

Lastly, keep your boards neat and organized. Give your site a theme that represents your company’s brand what you are all about. When you can keep your pins in specific boards organized, it allows your audience to navigate your site and find what they are looking for much easier.

The Age of Entrepreneurship

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When people think about entrepreneurs just starting in the business world, it often seems like a younger person’s game. This couldn’t be farther from the truth. Entrepreneurship can come at any age and at any point in your lifetime. The key is to have the right idea that will thrive and create success.

Although many people may think it’s best to start at a young age, it’s important to note that the medium age of successful founders is around the 40 to 50 range. Beginning as an entrepreneur in this industry at a later age brings a more extensive amount of life and work experience.

One of the biggest aspects of becoming an entrepreneur later in life, is you have the time to play and become more financially stable. Young business owners may not always have the income to fall back on if their ideas falter, which is why waiting until you have the support both financially and within your family or a spouse, could help your chances of success drastically.

Another aspect of beginning entrepreneurship later in life is most people have experienced failure in some way by this point in their lives. Having the opportunity to experience failure gives you an edge over others in not being afraid of your ideas floundering. Great entrepreneurs have personality traits in which they can keep their eye on the prize despite bumps in the road.

The skills and life lessons you learn in your early years of being a businessman or woman helps to shape the kind of leader you will be later in life. Because you will make many mistakes along the way, it creates a stronger and more confident business mind, thus, making this the perfect time to start your own business. When you can take a tip from entrepreneurs who have come into the game later in life, you can see how the experience has helped them become more successful.

Don’t let your age define how you continue throughout the business world. Just because you didn’t begin a company at a younger age doesn’t mean it’s too late and you won’t become successful in your endeavors. If anything, waiting until later in life means you are more prepared and have the experience to become successful in your chosen path for entrepreneurship.

Entrepreneurship Success: Leave Your Ego at Home

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People often ask the question, “what does it take to become a successful entrepreneur?” The truth is, certain personality traits and qualities help in shaping a successful entrepreneur. Although some of these traits are instilled in us from birth, many can be learned and developed over time. It’s essential to understand the specific qualities that make an entrepreneur successful. One of the most significant aspects of successful entrepreneurship is removing your ego from your business.

Starting a new business is hardly a feat for one person. Although there are leaders out there who believe they can do it better and all by themselves, it simply is not true and will not create a sustainable business. Entrepreneurs can’t let their egos get in the way of the growing business. It’s essential to assemble a team of hard workers and leaders who understand and share the same goals and vision you do. Creating a support team of people who help you every step of the way will ensure success in your business.

Every position in a business is just as important as the next. Even though some founders may think that because it is their idea and vision, they are the most crucial component of the company. This is, quite frankly, very untrue and anyone who has worked in a business setting understand that success only comes when people work together and no one believes they are above the rest.

You can take some great tips from the book by Michael Strasner, Mastering Leadership, Shift the Drift and Change the World, on entrepreneurship and either embracing success or instead, leaving it behind when your time is up. The key to growing your ideas and business is making sure to commit to your idea fully. Once you do this and realize there is no fallback plan and this idea is the end goal, it will be far easier to pour your entire self into it. And, not just yourself, but your team.

No matter if you win or lose, creating a teamwork environment in which you can utilize your traits and leadership skills to share your vision and goals, is successful and can inspire others to follow their dreams of entrepreneurship.