Do you have a Competitive Advantage?

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Do you have a Competitive Advantage? 

When starting a business and providing a product/service offering one of the most important questions to ask yourself is, what makes my business different? A competitive advantage sets you apart from your competition and gives consumers a reason to buy from you. Once you have established what your competitive advantages are the next step is to plan your marketing and to make sure it’s part of your communication strategy. It can be challenging to establish how to differentiate yourself in a saturated environment that is why we put together our top three options in which your business can create a competitive advantage.

Product

You can create a competitive advantage through your product offering. Most businesses try to set themselves apart from the competition through offering a quality product. Woolworths is a great example of having a competitive advantage with their food as they differentiate themselves in the market by offering quality food that lasts.

Service

If customers receive bad service you can rest assured that they wont be returning anytime soon to your business. Service is a great way to create a competitive advantage within your business. Mcdonald’s is a prime example within the Franchise industry. When Mcdonald’s started they made sure that their burgers and fries were produced at a rapid rate reducing the amount of time customers needed to wait. They made sure that every consumer received their food on time within minutes setting the bar high for the rest of their competitors within the food franchise industry.

Price

When products/services become expensive consumers often try to seek out bargains. That is why your price can be an effective way to create a competitive advantage. Even though price is a great way to differentiate yourself it is important to still make sure your positioning is good as consumers can question your quality and reliability if you have the lowest price in the market.

Not only is it important to know how you will differentiate yourself, but equally important to make sure that your differences is communicated through your marketing strategy and tactics.

The Rise of Stories

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The Rise of Stories

There has been tremendous growth in stories between the year 2016 and 2019. More and more consumers are using stories daily – according to research conducted by Clicks https://www.clickz.com/the-rise-of-stories-and-the-changing-face-of-social-marketing/214311/  a Marketing Technology Transformation company.  We have seen a spike in stories particularly on Watsapp and Instagram seeing the highest usage on these two platforms when compared to Facebook.

In 2019, stories are going to become an integral part in increasing awareness, engagement and sales for your small business. The reason why stories have become so popular is because they are short and only last for 24 hours. This is a great opportunity for startups, entrepreneurs and small businesses to create content that catches the eye and engages their target audience. Businesses who are already creating content on a consistent basis find themselves in a good position for the next wave of changes that Instagram will bring. Those however, who are not creating stories on a regular basis will need to catch up before lagging!

Even though stories are a great way to increase your brands awareness, there is a challenge that might require business owners to rethink their strategies. If stories continue to grow at the current rate at which it is, then this could result in a decline in content being seen in the news feed – this means that brands and businesses should be innovative when creating new strategies and content.

If you are not sure where to start in creating content for your stories’ we compiled a list of ideas below to get you on your way!

Product or Service Launch

Stories allow you to create hype and excitement before a product or service launch. Start a countdown or have a sneak peek on a new service or product offering.

BTS (Behind The Scenes)

Consumers are curious and a ‘Behind The Scenes’ story is a great way to show your audience what is happening in ‘real time’. E.g. If you are in the restaurant business, perhaps an image or video can be loaded as a story on how meals are being prepared, ingredients being used by staff in the kitchen.

Promotions

Including current promotions, specials or deals that your business is offering. Seeing that stories only lasts for up to 24 hours, create a promotion valid for 1 day. Making an offer valid for 24 hours creates a sense of urgency.

Events

Any events that your staff are attending or that your business is hosting can be featured as a story. Events usually take place over 1 day and a story is the perfect tool to use to showcase this.

If you are still uncertain on how to take your brand to the next level using stories contact us on http://spottmedia.co.za/book-a-consultation/ for a FREE consultation.

Generating leads for your small business in 2019

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Generating leads for your small business in 2019

One of the most pressing needs for small businesses is knowing how to generate leads. But to generate a lead one first needs to understand what a lead is. According to Leadfuze an automated lead generation company “A sales lead is a prospective consumer of a product or service, created when an individual or business shows interest and provides contact information”.

For a potential customer to be interested they would need to be aware of your product or service first before information or details are provided. For your business the first step is to implement marketing initiatives to increase awareness. A potential customer can only provide you their contact details if they are aware of your product offering and the benefits associated with it.

It is important for your business to have a strategy when it comes to generating leads. Leads is a vital aspect for business growth, that is why based on our research and experience we put together our top 3 methods to generating leads for your business in 2019.

1. Build Strategic Partnerships

A great way to increase your awareness and ultimately generate leads is to create strategic partnerships. If you have a bakery, approach and partner with a wedding planner, events company or florist and offer every client a discount or special rate when referred to you by them. You can also run competitions or giveaways together making it more beneficial and appealing to consumers. Always make sure that the partnership benefits both businesses and that both businesses understand how the process will work.

2. Facebook Consideration Ads

Facebook gives businesses the opportunity to target individuals based on their interests, area, age and when implemented correctly it can be an effective way to generate leads. One of the Facebook consideration ads available are known as a Lead Generation ad. A Lead generation ad is just that, its specifically designed to gather leads from potential customers who are interested in your product or service offering.

3. Speak at events

Try to get involved by speaking at events. This is not an easy one as not everyone can speak in front of people. But if you as a business owner specialize in a specific product or service and are an expert in your field then speaking at events is the perfect way to generate leads. Not only are you establishing yourself as an expert within your field, but you will also be opening another avenue to network with potential customers.

If you still battling to generate leads and are not too sure how to take your lead generation strategy to next level for your small business contact on http://spottmedia.co.za/book-a-consultation/ and book a consultation.