The Exhibit Company: business strategy

Showing posts with label business strategy. Show all posts

Tuesday, July 19, 2016

4 Key Marketing Strategies To Use Apart From Just Advertising

Sustaining a business, brand or product takes a lot more than just advertising these days. You will discover that some companies spend millions of dollars on advertising campaigns, and they still do not generate the desired response from consumers. This then makes you wonder what is missing? If these companies can afford to spend millions on advertising and still fall way off the mark, what hope does your startup or small business have when it comes to capturing your share of the market? Another confusing aspect is how some businesses seem to dominate the market despite the little advertising they seem to do? This then makes you wonder what in fact is missing, and what are they doing that helps them so effectively take over the market. Well I’d tell you a hard truth. Business and marketing is not just about advertising.

While advertising is very effective, there are some key components, which if missing from your marketing strategy, can render your whole campaign null and void. In this article, I will be going over 4 key things you need to do apart from just using the traditional methods of advertising. If you have been scratching your head in the office thinking about how to dominate the market when your competitors are more financially buoyant than you, then your attention must be here. I will share with you what I’ve learnt on how you can dominate the market like never before, and using the little resources that your company has, edge out the competition.

Create An Insanely Good Product

Some products have the ability to sell themselves. If you can manage to create a product or service that is so insanely good, you do not need to spend so much on advertising. Consumers will literally be banging on your door in order to get your product. Think about it. Water does not need any form of advertising, yet people crave it like no other item. Don’t get me wrong; I’m not saying you should go into the water business. However, your next business strategy should be able to come up with a product that is so mind-numbingly amazing that people simply cannot do without.

By now your mind must be racing, and everything must seem to fall into place. Think about that amazing confectionery shop on the corner of your street that needs no form of advertising. They get the crowd in there simply because their product is amazing. When I was still a student, there was this amazing popcorn stand in the mall right next to my college. There was just something insanely amazing about their popcorn, and for some reason, nobody could get enough of it. In no time it became the rave of the school, and every single person wanted to buy some on the way out. If your business can manage to create a product that is too amazing for people to resist, the job is already 70% done.

Position Yourself

This is the part where you go in for the kill. You’ve created a great product, you know and can feel it in your gut that the product is simply amazing, so what’s next? You must learn to position yourself wisely if you want to take over the market without spending fortunes on advertising. The essence of business is networking and positioning. Top entrepreneurs around the world will tell you that it really isn’t about the work you put in, but it’s about where you take the work to. Take advantage of platforms like trade shows and exhibits. This is an excellent avenue for you to market your product and company. Make new friends, these influential links can transform your business and give you opportunities like never before.

Get Feedback From Your Customers

This is something that a lot of big companies take for granted, and it is exactly how your company can dominate the market. Consumers like to be asked about how a service was rendered to them. Even if nothing is done about it, they just want to feel like someone is listening. I’m not saying your company should send out those annoying follow up emails that everybody hates. Simply ask your customers subtly about how their last purchase was. Ask if there are ways they feel you can improve and make the necessary improvements. This not only gives you the edge in terms of improving your product, but will also create a bond that very few businesses have with their customers.

Be Resourceful

You don’t need a million dollar advertising budget to reach out to your customers. Use what you have. Trust me, the big companies wish they can be as scrappy as you. Take advantage of social media, word of mouth publicity, visually appealing banners, networking and lots more.

These things will propel your business or product to the top without much need for advertising. Learn to invest in the things that matter. Your resourcefulness is ultimately what will give you market dominance.

Originally Posted Here

Jess Wolodkowicz

Exhibition Planner | Account Manager

Email: jess@theexhibitcompany.com.au

Phone: +61 (02) 8093 3806

6 Clear Signs That Your New Business Idea Is a “FAIL”

So you have a fantastic new business idea that will change the world. It seems like a certainty in your mind. You are ready to go, and put in everything possible to give it your best shot. However, results come in and you are not making half as much as you thought you would. So where did it all go wrong?

Business these days takes a lot more than just coming up with an idea. A lot of times, entrepreneurs get ideas for products or services that they feel will completely revolutionize the market. The truth is, quite often, there are similar products in the market that are already doing what your product promises to do, and probably even does it better. Another terrifying truth is that, the idea may have been tried and failed for a large number of reasons that you failed to put into consideration.

When going into business, it is very important to observe market trends before investing heavily in your new business idea. There may be some hidden flaws in your idea that you may have ignored because of your enthusiasm over your idea. It is very important to conduct the necessary feasibility studies and competitive analysis in order to ensure that your investment will be a viable one. There are some clear signs that your business idea is going to be a complete fail. I will be taking you through some of the telling signs that you should not invest in that new idea.

Your Motive

The biggest sign your new business idea is a complete fail is when you can’t stop analyzing how much you stand to make. This means that you are most likely only in it for the money. Now don’t get me wrong; money is a very good motive for doing business. In fact, it can be a very good reason for going into business. However, the dangerous aspect of money being the motive behind an idea is that money has a way of clouding your mind and judgment. The thought of money makes it very easy to overlook obvious flaws in a plan. When you have a new business idea, you must take time out to think and question your motive for going into business. When you have effectively done this, it becomes a little bit safer to go into business.

Seeming Like A Goldmine

There is nothing wrong with your plan being a foolproof goldmine. Sometimes, people’s ideas are literally goldmines waiting to be exploited. However, if something seems to good to be true, then it probably is. You should take some time out to properly evaluate the business idea and check out why it seems to be such a certainty. You can also employ the help of a professional to conduct a feasibility study to ensure that your investment is not going down the drain. It can be very heartbreaking to invest heavily in a business idea and see the flaws of the plan unravel before your very eyes.

Nobody Is Doing It:

Think about it! If nobody is doing it, then there must be something wrong with the idea. Of course, there are new ideas every day that no one has thought about, but you must take extra care to figure out why nobody is doing it. It is important to conduct a proper competitive analysis to figure out what your possible competition is, and if need be, why you do not have any competitors. This is usually the quickest way to identify whether or not a plan is going to be a fail. If you do not seem to have any competitors, there just may be something wrong with the idea.

Doubt

The greatest minds doubt themselves. However, if you just can’t shake the feeling of doubt surrounding you, it just may be a sign that your new business idea is a fail. It is good to follow your gut when doing business (after properly calculating the possibilities of failure). If despite all the numbers are showing you, there is still the unshakable feeling that it will fail, maybe you should take some time out to re-evaluate.

You Don’t Really Know The Basics

The richest entrepreneurs around the globe have one thing in common; they don’t ever go into business without knowing the rudimentary aspects of the job. Don’t ever put your finances into an idea you don’t really understand. If you do this, you will begin to see the flaws of the business unravel with every step of your idea.

Hmmns And Aaahs

When you are speaking about your groundbreaking idea, listen out for the ‘hmmmns’ and ‘aaahhs’. Often times, friends and family are too concerned about our emotions to actually tell us the truth about business. Listen closely for people’s opinions. If they don’t seem to have any opinions, good or bad, then maybe you should rethink the idea.

Originally Posted on Linkedin

Jess Wolodkowicz

Exhibition Planner | Account Manager

Email: jess@theexhibitcompany.com.au

Phone: +61 (02) 8093 3806

4 Things Technology Can Never Replace

There are some human aspects of business that technology can only try to mimic but can never replace. These things are what gives your business an edge and will set you apart from the competition. The tech geniuses and multi-million dollar companies that are able to afford machines do half of the work they have, still understand and admit to the fact that technology cannot replace some things when it comes to doing business. People that think technology is here to replace the human aspect of business have got it horribly wrong.

Technology is here to do one thing and one thing only, that is to simplify the way we do business. It merely exists to be used as a tool. If you are building your own startup today, try as much as possible to not allow your business be as dependent on technology as most failing businesses do. This is because there are some things that technology can simply never replace. Yes technology helps you accomplish tasks faster, but that does not mean in anyway that it can replace some essentials of business. Creating a product that can relate with your customers is daunting enough, and is a lot different from creating something that relates with machines. I will be going over 4 essentials of business that technology can never ever replace. Stick around!

Technology Brings Faster, But Faster Isn’t Wiser

There is a reason why software developers have struggled for years on end to create something technology based that is similar to the human mind. Work on artificial intelligence has been on for years and has continued to baffle even the greatest of minds. Yes, adopting technology for your business will make your business faster, but that doesn’t necessarily mean wiser. There is one ability that humans have, and that is to think outside the box. A computer can only create solutions based on the information that it has been fed. Other than that, the computer system is completely redundant. A computer software cannot help you think of a new product that will help you capture the market. Technology can only help you point out strategies that aren’t working, but it cannot help you come up with new ones. This is the difference between computers and the human intellect.

Passion

You’ve heard everyone talk about this and you’ve seen it in practically every magazine. If you don’t have passion, or you are not passionate about your business then you simply cannot survive. Passion is what gives you that extra drive, that almost maniacal dream of wanting to go on even after everyone has told you that you cannot succeed. Most successful businessmen around the world all believe that they are truly capable of changing the world. If you do not believe that your dream or company is big enough to be world dominating, then you cannot survive. In Australia, there can potentially be a million and one problems you can face when doing business, especially when you're running a startup. If you do not have passion, your business will easily fizzle out.

Values and Ethics

No matter how efficient a product is, or a service rendered, technology can simply never replace the human attribute, that is, values. Values are everything, and this is what makes you able to relate with your customers. Customers want a company that doesn’t seem like it is just out to make a quick buck. Looking out for the interests of your customers is very essential when it comes to doing business. Incorporating values and ethics into your product will give you something that no amount of speed and product efficiency can; this is loyalty. Consumers display loyalty for those brands that seem to have their interests at heart. If your business has strong ethics and values, this will have a strong imprint on the quality of products you render. Implying that your company can take advantage of the loyalty to come.

Innovation

This is the driver of businesses today. Businesses that are able to innovate and create are the ones that ultimately survive. A computer cannot think up something new, it can only work based on information that it has been given. This is something that technology cannot replace.

These things cannot be replaced by technology. Incorporating them into your business will see you dominating your market for years to come. Work on them, and watch them transform your business.

Originally Posted On Linkedin

Jess Wolodkowicz

Tradeshow Strategist | Account Manager

Email: jess@theexhibitcompany.com.au

Phone: +61 (02) 8093 3806

Monday, July 18, 2016

4 Reasons Why The Right Color Combination Will Be The Most Vital Step In Your Ad Campaign

Colors do and say more than you think. The effect of colors cannot be overemphasized when it comes to an advertising campaign. The most effective ad campaigns are those that effectively manage to capture the attention of the target audience and engage them long enough to explain a point to them. Have you ever wondered why blue is often used as the color for advertising bottled water? Or why the bottling companies that produce water use the same color on the bottles? This is because blue subliminally represents a cooling and soothing effect. If you are incredibly thirsty, there is very little chance that at first sight you will be reaching for the red colored bottle of water.

These brands have to sell their goods, so they even have to use colors to convince the consumers to buy goods. If you are not extremely thirsty but only slightly parched, there is a greater tendency for you to still buy a bottle of water simply because you saw the color blue in a refrigerator at a store. This then leads to the question of ‘Why is color so important when it comes to advertising campaigns?’

Studies show that colors are subliminally linked to human emotions. This makes it relatively easy to compel an individual to do what you want simply by showing them a color that provokes a certain emotion within them. If you want to advertise a luxury brand, using the color white is likely to get the attention of your audience because white subliminally speaks of solitude, cleanliness and an item that not many people can afford. With the discovery and creation of new colors, it has become even more possible for businesses to provoke consumer behavior through advertising campaigns.

Here are some reasons why you must use the right color combo for your next ad campaign...CONTINUE READING

Jess Wolodkowicz

Tradeshow Strategist | Account Manager

Email: jess@theexhibitcompany.com.au

Phone: +61 (02) 8093 3806

Wednesday, July 13, 2016

6 Killer Marketing Tactics That NO ONE Will Tell You About

Marketing can be very tough. Have you ever tried selling your product to an individual that simply doesn’t seem to be interested in your product? This is often because the potential client doesn’t have a need for your product. Aha! Did you notice the fault in the last sentence? If someone doesn’t seem to be interested in your product at all, then why still refer to him or her as a potential client? This is because every single individual is a potential client until you give up the sale. There are no rules to marketing. Marketing geniuses around the globe make millions of dollars because they have been able to harness a skill that not so many people have been able to develop. Not everyone can sell a product. That is why not everyone can call himself a marketer.

A business can never EVER survive on an idea or product alone. It needs these geniuses to sell the product, if not, it remains in the warehouse or in the head of the innovator. Now that we have established that marketing isn’t easy, how come the marketing geniuses seem to be experts at it. These guys can literally sell you water even if you have a glass of water in your hand already. Why then do you think they are so successful? In this article, I will be sharing with you some secrets about marketing that no one will tell you. This isn’t just another article that promises to teach you something that you already know. Working in the trade shows and exhibitions industry has put me on the front-line to monitor these marketing geniuses and I have identified 6 things that ALL of them do when they are selling a product. In this article, we'll call your "potential customer", your "prey". Stick around, this will change your life...CONTINUE READING.

Jess Wolodkowicz

Tradeshow Strategist | Account Manager

Email: jess@theexhibitcompany.com.au

Phone: +61 (02) 8093 3806

Mobile: 0417 468 487

Sunday, July 10, 2016

5 Types Of Clients That You DON'T Want

It is very important for most businesses to get as many clients as they can. However, there are some clients that simply prove to be a thorn in the side of your business. Top companies boast about having a large client base and dealing with lots of consumers on a daily basis. While this is true, they often leave out the fact that they scrutinize their clients. The same way a consumer takes time to decide whether or not he or she wants to patronize a particular brand, is the same way a company should be selective about their clients. Some clients simply prove to be more harm than good for your business. It is therefore very essential to identify these clients and know how best to avoid them. In this article, we will be taking a look at 5 types of clients that you most definitely do not want for your business. In business, there are some clients that you are better off without. Identifying these clients will help you save a lot of time and money.

Time Wasters:

For every business, there is the potential of coming in contact with clients that are absolute time wasters. In business, time is money, and every second can be spent doing something more productive. The amount of success your business is going to achieve financially is largely dependent on how you spend your time. There are some clients that change their minds every single time you have a conversation with them. With every conversation, the client seems to have a new take on how you should provide solutions for them. This is the fastest way to waste time in business. All of this will make your business less productive. The less time you spend on clients that waste your time, the better for your business. It is therefore very important to identify these time wasters early, and avoid doing business with them.

Energy Drainers:

Some clients are experts at draining your energy and the energy of your staff. They may ask your company for consultations and act like they are interested in doing business, but they may just be seeking information or the thrill. When it comes to business, the entrepreneur’s energy is the most valuable asset he or she can have. Clients who simply refuse to communicate properly with you or are always uncooperative, are bad for business. This can drain your energy and that of your employees. It is therefore very essential to get rid of all the negativity that comes with energy drainers and focus on clients that are actually looking to work.

Clients Who Will Haggle Every Fee:

Some clients refuse to identify that there is a cost provoked process for arriving at prices. They will haggle every single price and fee with you. This is very bad for business and it is important to learn how to avoid these clients. Some clients may be trying to make things work with funds that are too low and simply impossible. Try to clearly identify such clients that are not truly willing to make a financial commitment and refuse to understand that value has a price attached to it, and that "you get what you pay for".

Clients That Are Afraid Of Commitment:

Some clients are experts at displaying a phobia for commitment. Even after scouting the market and conducting numerous feasibility studies, they would still be afraid of making a reasonable commitment. This kind of client must be avoided. While it is very important for a client to carefully scrutinize all their options, there must also be the willingness to make a choice. Some clients are simply not ready to make a choice. While there is nothing wrong with weighing your options and snooping around till you get the best deal, it is also important to understand that your business is spending a significant amount of money trying to woo a customer. Even if it is not financially exhausting, it will most definitely be time and energy exhausting. You must therefore identify this type of client and stay away from them.

Complainers:

Some clients will complain no matter the amount of good service you provide to them. While it is very important to give your clients the best and treat them preferentially, some clients will never understand how much time and effort it takes into providing them with a good product or service. These clients are not only bad in terms of cost; they also give your business a bad reputation.

Identifying and avoiding each of these types of clients will ensure your business runs smoothly, and does not incur losses trying to impress or satisfy these clients.

Originally Posted on Linkedin

Jess Wolodkowicz

Tradeshow Strategist | Account Manager

Email: jess@theexhibitcompany.com.au

Phone: +61 (02) 8093 3806

Mobile: 0417 468 487

Thursday, July 7, 2016

5 Personal Branding Tactics For The Business Mogul

Successful entrepreneurs and businessmen can all share their experiences about the benefits of personal branding. If you don’t start to take yourself seriously personally, then people won't take you seriously either. You must work hard on creating a strong personal brand for yourself and for your business in order to leave a lasting impression on every potential customer that you come in contact with. Building a personal brand or reputation is by no means an easy feat. It takes a lot of time and dedication, but if you are determined, it is something that you will eventually do.

If you're passionate about your business, love what you do, and would like to see your business go to the next level, then personal branding is just the thing for you. Your reputation is what sells you and your product even when you are not around. Your reputation is even more effective than the product you are selling, and in most cases, it is the product that you are selling.

For example, there are a lot of mobile phone manufacturing companies, but how come people only like to go for the big brand names? It is not like these other mobile devices can’t do the exact same thing. This is as a result of the branding and reputation that they have been able to create. Doing this for your business can transform your sales and introduce you to a whole new audience. Having a good reputation is not something that happens overnight. You need to build it gradually

Know Yourself:

This is the first and most important part about creating your own personal brand. If you do not yet fully understand who you are, how can you expect people to understand your brand? Getting a good reputation is a lot more than just being noticed, it goes a lot deeper than that. It is you knowing how you see yourself, which ultimately affects how your consumers see you. If you are working on building a personal brand, you need to first of all understand who you are. You need to know your values, what you stand for, your goals in life and for your business, things you can and cant do and then see how to make that easily applicable to others.

Connect With People:

You need to connect with people in order to build a personal brand that works. Human beings are naturally made to connect, so whatever makes you special is bound to apply to a lot of other people and they will most likely be able to connect to that. You need to harness your networking skills and work on creating a connection with as many people that identify with your brand. Doing this will create an immense followership that will push you and your product to new heights.

Never Be Afraid Of Self-Promoting:

If you do not hype yourself, then who will. Once you have been able to build a brand that works, you need to start selling that brand by yourself. You need to be confident enough to share your vision and dreams with people. All of these come from first understanding who you are and knowing the kind of people that you apply to. You must create a plan for how you are going to build a brand around yourself. Take your time if it is needed. Never rush or pay to do things that you can do by yourself. Understand what works for you, and promote yourself.

Establish An Online Presence:

Never ever underestimate the importance of social media. These tools can take you from a small businessman to a billionaire in no time. You must find a way to key into these social tools and create a presence that works. It could be a personal website, Facebook profile, Twitter or any other social media platform that you can find. Once you are able to establish an online presence, it will be very easy to get people to understand and follow your brand.

Manage Your Reputation:

No matter how ‘small time’ you think you are, you must learn to manage your brand and reputation to the fullest maximum. You must know when something can completely tarnish your image. Warren Buffet famously spoke about how it takes over 20 years to create a good reputation but you can tarnish it in just a matter of minutes. Understand what good press and bad press is. If you are a small business owner of a startup, this is the perfect time for you to start developing this skill, especially as you are out of the limelight.

Creating a personal brand is no easy feat. However, it can be a totally fun and enjoyable process. Try as much as possible to create a brand that is totally you, and in no way fake. This way you can build a reputation and earn by just being you.

Originally Posted on Linkedin

Jess Wolodkowicz

Tradeshow Strategist | Account Manager

Email: jess@theexhibitcompany.com.au

Phone: +61 (02) 8093 3806

Mobile: 0417 468 487