A business plan holds the business model, which is the description of the strategy you're going to take in order to make profits and reach an economy of scale (growing as the business grows). Here are some strategies I have come up with:
Social Media Marketing - Get your name out there...for free! Use them all: Facebook, Twitter, YouTube, LinkedIn and many more. Use them and don't forget about them. If you're social media sites aren't updated, it comes off illegitimate and unreliable.
Be a Good Listener - Ask for reviews and comments on your product. For the consumer, By the consumer! The people using your product constantly are the ones who know what's best or worst about it. If you don't listen to them, why will they keep buying from you? If you're not a good listener, someone else will be.
Find Your Niche - You need to find a specific product and aim it towards a specific audience. That way you are not trying to fill a broad range of needs. This turns you into an expert in your own field very quickly, making you trustworthy.
Make Your Words KEYWORDS - The only way search engines will rate your website relevant is by using keywords that users enter into searches. Think like a user would, and put those keywords all through the website, while still making sense, of course. Now, everyone will be able to find you!
http://articles.bplans.com/growing-a-business/social-media-marketing-the-marketing-skills-you-can-learn-from-obama/637
http://businesstm.com/online-business-blog/online-business-tools-of-the-trade.html
The strategies that you have discussed are very useful and easy to understand. One way to build your keywords is by writing related articles and posting them on your site as frequently as possible. One way search engines rank websites is by the total frequency in which keywords and key phrases are used. For example, if you have a website that sells designer clothes, write articles and reviews on all the latest fashion trends, including brand names. This will help you target your niche because certain keywords or phrases will be used repeatedly in your writing, such as "designer clothes" or "Ralph Lauren". This will greatly help your ranking.
ReplyDeleteI enjoyed reading your post, very informative. Take care!
All are good valid points. Social media marketing is a great way to reach thousands of people, it is also usually free. Two topics that you mentioned that were not in the professors post were keywords and be a good listener. Using the correct keywords are crucial for search engines matching the correct search to your site. Asking for feedback is also an important part of a business plan. I believe it is how Amazon became famous because they let their users rate the product and post any comments about it.
ReplyDeleteI full heartedly agree with your suggestions! Social Media is really important in the new business age. More and more companies are using websites like Twitter and Facebook to advertise their products and encourage participation. In particular I think of the Physicians Formula when I think of Social Media. They offer contests daily on their Facebook page for free products and they opened up a website where they are offering a grand prize of a trip for two to LA for a free makeover!
ReplyDeleteAdditionally, companies have realized that teenagers (where there is the most disposable income) are looking more into personal reviews of products by their peers online rather then advertisements on TV! I've noticed a big increase in companies sending out free products for reviews online in websites like YouTube. I myself have even joined in and post video reviews online!
The world of advertising is changing and so are the companies that are tying to keep up. I've personally witnessed companies implementing the tips you have mentioned. Thanks for the insight!
Your point about using social media is excellent. I think the movie Cloverfield was the first thing that made me realize the potential of social media marketing. They created myspace accounts for the characters in their movie to try and give it a more authentic feel.. and it worked. If you didn't know anything about the movie at all you'd think these were real people. They posted messages to their "friends", wrote about how their day was and made it seem like they were living real lives.
ReplyDelete