It’s an age-old dilemma. Diversifying your product range can help you meet a broader range of customer demands, but will it spread you too thin? Devoting your resources and energy to a narrower product range may ensure greater quality, value, and market share, but do you risk putting all your eggs in one basket?
Read MoreTopics: increase profit, small business, attract new customers, branding, unrealised potential, increase sales, business needs, networking, customer loyalty, trade dollars, marketing
Businesses set long-term goals to help them measure their success. However, as a business owner, you must also set attainable and specific short-term goals that support the bigger picture. Invest time to create scalable plans that will accelerate your business along the path toward your long-term vision. Here are examples of short-term goals, which can pave the way towards achieving your long-term objectives.
Read MoreTopics: small business, attract new customers, build business networks, branding, goals, networking, customer loyalty, marketing
Businesses are always looking for new ways to generate extra income and boost their market share. When a brand develops and markets new brands that are slight variations on similar, existing products, the result is a phenomenon known as brand proliferation. Below, we discuss what you need to know about brand proliferation and how it impacts your business.
Read MoreTopics: small business, attract new customers, branding, barter, business needs, customer loyalty, marketing
Research shows conclusively that your existing customers are your best chance at increasing your overall sales. Closing a deal with a potential new customer is tricky and doesn’t actually happen all that often—even if your sales team are virtuosos of the craft. Statistically speaking, you’re much more likely to find success selling additional products and services. That’s where upselling and cross-selling come in. Unfortunately, people hear a lot about these kinds of tactics, and it’s easy for them to switch off if you take a poor approach. What exactly are these tactics, and how can you employ them effectively?
Read MoreTopics: strategy, buyer demand, expand your product line, small business, attract new customers, branding, unrealised potential, increase sales, business needs, customer loyalty
Online Reputational Management (ORM) is vital to any business. One poor Google review or post (whether justified or not) can have a significant impact on your business. With social media such a popular channel for people airing their views, you could have a serious problem if that one person with a negative experience of your brand happens to have thousands of followers.
Read MoreTopics: business strategies, strategy, branding, social media influencers
Everyone likes a bargain. Why pay full price for something when you can receive a discount? This is why discount websites are gaining popularity. They’re great for the consumer, but are they good for the merchant and small business owner? As a small business owner, have you worked out the real cost of discounting and the impact it will have on your business? Daily deal websites charge a fee of approximately 15-20% of the sale price and stipulate that the offer presented must be at least 50% off the original sale price.
Read MoreTopics: growing your business, increase profit, buyer demand, starting up your business, small business, attract new customers, save cash, branding, discounting
It might start with a name and a logo, but if there’s one thing the team at Bartercard knows, it’s that building a trusted brand is much more than just graphic design.
Building a trusted brand is critical in the digital age. Having a strategy and focus to help build trust in the right places can maximise your impact, your brand reach, and your market sway.
Read MoreTopics: growing your business, increase cash flow, starting up your business, small business, market research, attract new customers, save cash, spare capacity, build business networks, branding
