If your marketing strategy is older than three years, it could be time for an update. Moreover, if you find your messaging is not getting the results you want, maybe it's time to go back to basics. If you work on the fundamentals of a good marketing strategy, then the results should fall in place.
Revisit Your Audience Personas
It's vital for your company to understand the likes and dislikes, backgrounds, age groups, political affiliations, dreams, and aspirations of your ideal audience persona. Consider the type of audience that would be the best match for your product and/or service. If you haven't evaluated your audience personas in years, now is the time for an overhaul — especially if your products and services have changed over time. If something isn't "clicking" with your marketing, this may be the step you need to get back on track. You can then use your updated audience personas to get back in sync with their needs and wants. Sundance explains that all this information is vital to understanding how to interact meaningfully with your target market.
Understand Your Product and Service
For this step, perhaps you should take another look at analyzing your product and service. What market need does it meet? How is it unique from similar products and services? What sets it apart from your competitors? No one can market your product and service better than your company can. While you do need customer advocates, the basics of product marketing starts with your understanding. If sales have stalled and you feel like you don't know where to take your marketing campaign, then it may be time for a refresh. Digital Marketing Training Group recommends participating in ongoing training to stay up to date on the latest trends and standards in the digital marketing industry. You can then apply your knowledge in furthering your marketing goals.
Get to Know Your Competition
When getting back to marketing basics, your company might be so focused on your product line and customers that you forget any other obstacles that might be lurking around. MarketResearch.com warns that one such hurdle in your quest for market domination would be your competitors. It is critical to get to know your competition. You can learn from their mistakes and avoid similar pitfalls.
You can also gain a better understanding of why your target audience might purchase from them instead of your company. In addition, you might learn from their successes and apply some of their winning strategies. Not to mention, you can study their segment of the marketplace to find any opportunities to sell more of your products and services.
Embrace Strategic Partnerships
In order to grow, some companies need to find allies. For instance, if you look at the history of McDonald's, Ray Kroc partnered with local bakeries throughout the nation to ensure a consistent baked product for every McDonald's franchise. As far as your company stands, think of a partnership that can work in a mutually beneficial way. If your company sells lipstick, you might partner with an eye shadow brand to sell kits instead of individual pieces. In terms of marketing, you and your partner benefit from exposure to new consumers.
There you have it, the basics of marketing. At times, going back to basics is all it takes to get your company moving in a forward direction once more.
Equality in the workplace benefits everyone, and employers should take the time to learn more ways that they can create a more just workplace.
Creating a just workplace should be a top priority of all business owners. Fair workplaces are one of the cornerstones of strong businesses, and civil rights movements have affected workplaces in many ways, providing better opportunities and better workplaces for everyone. Several civil rights movements have made substantial changes possible, and here's a brief rundown of three of the biggest ones.
Mental Health Awareness and Support
The Americans With Disabilities Act requires that employers provide equality for people with disabilities in the workplace. This includes people with psychiatric conditions. Under this law, employers can't deny hiring, demote, or deny training opportunities to someone based on their psychiatric condition.
Employers have also come up with programs to ensure employees with mental health conditions have access to the care that they need, including doctor's visits through insurance providers and accommodations for people with psychiatric conditions.
Equality in the workplace covers many groups. Under Title VI of the Civil Rights Act of 1964, employers aren't allowed to discriminate based on race, color, national origin, sex, and religion. With this law, employers must give equal opportunity for employment, and they can't discriminate against someone based on these criteria for pay and advancement. This civil rights attorney explains that many states have several additional civil rights statutes which can be utilized in cases involving discrimination, harassment or violence and which allow for penalties, attorneys’ fees, compensation, and change.
The Age Discrimination in Employment Act of 1967 requires employers to not discriminate against people based on age. This means that people cannot be discriminated during hiring, promotion, discharge, compensation, or terms. Creating a workforce of diverse ages also provides more stability for companies.
This career and job specialist explains that people of different ages have varying perspectives that they can use to inform each other. For instance, a 65-year-old woman might understand the utility of a particular product, but a 25-year-old worker might understand a younger consumer better. Businesses that have a wider range of ages also don't need to worry as much that all of their employees will retire within a few years of each other or all younger employees will be vying for a limited number of promotions.
Equality in the workplace benefits everyone, and employers should take the time to learn more ways that they can create a more just workplace. Businesses that merely work to be in compliance with the law rather than truly promoting an equitable work environment are losing out on opportunities to create a stronger business.
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These are the Final Two Videos for Management 464… These are for the final two Mondays (11/19 and 11/26). Now, you've reached the end of the semester! Congrats! And again, if you like and personally find value in these videos, do please share them further.
Video 65 - 11/19
4 SMART NETWORKING HABITS YOU NEED TO START
Short Link: http://bit.ly/2GbyRbi
Video 66 - 11/26
Topic: Your Future
Oh, the Places You'll Go
Short Link: http://bit.ly/2hrudKc
This is the Week 13 Video List for Management 464… If you like and personally find value in these videos, do please share them further.
Video 60 - 11/12
How To Survive A Mass Shooting | Better | NBC News
Short Link: http://bit.ly/2GdXkbK
Video 61 - 11/13
BRAND YOU: YOU ARE YOUR CALENDAR
Short Link: http://bit.ly/2vSWQWi
Video 62 - 11/14
How KFC Won Over China
Short Link: http://bit.ly/2oXtWji
Video 63 - 11/15
THE RISE OF ONLINE FOOD DELIVERY
Short Link: http://bit.ly/2vBaGNY
Video 64 - 11/16
Bulletproof Coffee Grew From a Blog to $50 Million
Short Link: http://bit.ly/2wXWmgC
This is the Week 12 Video List for Management 464… If you like and personally find value in these videos, do please share them further.
Video 55 - 11/5
What this Navy SEAL's '40% rule' can teach you about success
Short Link: http://bit.ly/2uzG3V2
Video 56 - 11/6
ATHLEISURE: ACTIVEWEAR STEPS OUT
Short Link: http://bit.ly/2vz0pko
Video 57 - 11/7
Property Brothers: We Figured Out How To Work With Family Members | Better | NBC News
Short Link: http://bit.ly/2MZ3js1
Video 58 - 11/8
Why Companies Constantly Conceal Facts - And Why That Might Not Be Such A Bad ThingShort Link: http://bit.ly/2PGd6AH
Video 59 - 11/9
Autonomous Grocery Delivery Is Almost Here
Short Link: http://bit.ly/2NlPkwA
This is the Week 11 Video List for Management 464… If you like and personally find value in these videos, do please share them further.
Video 50 - 10/29
EISENHOWER’S STELLAR ADVICE FOR HOW TO MAKE DECISIONS
Short Link: http://bit.ly/2wdM9gj
Video 51 - 10/30
WILLOW WANTS TO SHAKE UP THE ADULT DIAPER MARKET | CNBC
Short Link: http://bit.ly/2MRenb5
Video 52 - 10/31
Former Wal-Mart US CEO Bill Simon: Sears Is Like 'Watching A Train Wreck In Slow Motion' | CNBC
Short Link: http://bit.ly/2MwhPI6
Video 53 - 11/1
THE FLOURISHING BUSINESS OF BUILDING FAMILY TREES
Short Link: http://bit.ly/2vB20qW
Video 54 - 11/2
How Publishers Clearing House Makes $1 Billion A Year
Short Link: http://bit.ly/2C0I1WH
This is the Week 10 Video List for Management 464… If you like and personally find value in these videos, do please share them further.
Video 45 - 10/22
STARTING YOUR DAY WITH A POWER HOUR CAN MASSIVELY INCREASE YOUR PRODUCTIVITY
Short Link: http://bit.ly/2vaeUZT
Video 46 - 10/23
HOW TO FIND SUCCESS IN YOUR BUSINESS IDEA
Short Link: http://bit.ly/2uqM45w
Video 47 - 10/24
HOW TAKEOUT TOOK OVER AMERICA | CNBC
Short Link: http://bit.ly/2PJ7CoZ
Video 48 - 10/25
HOW DO AIRLINES PRICE TICKETS? | CNBC EXPLAINS
Short Link: http://bit.ly/2KxZpAT
Video 49 - 10/26
Why Hershey Is Questioning Its Future In Chocolate | CNBC
Short Link: http://bit.ly/2LtDueD
(BPT) - Over the past decade, technology has reshaped the retail industry in profound ways. Ninety-six percent of Americans are now shopping online, according to a recent study from CPC Strategy. Which means today’s business leaders face increasing pressure to keep retail spaces relevant and engaging for customers.
One solution to captivating today’s consumer is a simple one: Build meaningful connections with local communities, says Etienne Veber, president of Field Trip Factory, a firm that helps design, schedule and promote interactive learning experiences within retail environments.
“Technology provides greater convenience and lower prices,” Veber says, "but it is not a replacement for human interactions."
The increasing lack of human connections in our daily lives represents a unique opportunity for retailers to thrive in today's environment, he says, by identifying their core values and concerns, and then expressing them through meaningful learning experiences and a deeper sense of community.
"We learn by doing, and retail environments can be incredibly powerful as teaching platforms,” Veber says.
The value of purpose
When companies express a sense of purpose to their customers, it has a profound effect on the confidence in the brand. Eighty-five percent of companies with a strong sense of purpose say they are backed by their communities, because they are seen as “good and helpful corporate citizens,” according to a survey by Deloitte.
Furthermore, 89 percent of firms with a purpose say clients and customers trust the quality of their products and services — versus the 66 percent of firms that do not have this sense of purpose.
As a way to demonstrate its commitment to its local communities, multi-format food retailer Giant Eagle, Inc. developed an interactive program that connects with local school children. “Be A Smart Shopper” helps young students and their families learn about making healthy food choices.
Over the years, it has been a very effective way for Giant Eagle’s retail Team Members to uphold the company’s common purpose to improve people’s everyday lives and well-being in a community-centered way, and so far more than 600,000 families have been reached across Pennsylvania and Ohio. Educators love the program because it supplements the classroom curriculum and gets their students really engaged. Ninety-five percent of them are planning to come back with their students next year!
“Our Be A Smart Shopper program is an important part of how we fulfill our commitments to education and health and wellness,” says Giant Eagle CEO Laura Karet. “Through the program, our retail Team Members are able to meaningfully impact how the children in our communities think about the foods they eat, and encourage involvement from the children in family meal planning.”
Expressing purpose in the retail space
A retailer can build trust and loyalty by expressing their values in innovative ways. Their stores are more than places to shop. They can build opportunities right in the towns and cities in which they serve.
Host in-store classes and events: Business leaders, store managers and longtime employees, with their industry knowledge, are community gurus. With that mindset, what better way to connect with the community than to open the doors for an on-site event? Things like hands-on demonstrations, seminars, consultations and even heading up an ongoing club are all engaging ways to share knowledge and help people solve their most common pain points.
Champion local causes: Transform company values and industry knowledge into a community asset, and direct resources to solve problems in the community. Reaching out to local nonprofits, being a major sponsor to make a local event even bigger and better, or paying employees for their time to volunteer are all ways a brand can build a meaningful community presence.
Find a partner: Most businesses do not have the in-house expertise to organize, plan and publicize in-house events and initiatives, which is why some turn to a trusted partner for expertise in that field. For example, as Giant Eagle planned its Be A Smart Shopper Program, Field Trip Factory took the lead with the curriculum (with input from educators), and created the online tool that makes it easy for teachers to discover the program and sign up their class for an event. Each participating store can easily set its availability on the Field Trip Factory platform and these educational events take place without disrupting their day-to-day business activities.
Today’s retail climate is a uniquely challenging one, due to the rise in technology. To learn more about finding opportunities to engage with customers and communities, visit fieldtripfactory.com.
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