There is no denying it we are living in the age of foodies. Studies have shown that the average Millennial eats out five times per week, giving restaurants a huge opportunity to promote and drive their business. As a restaurant owner, you have a lot on your plate. We’re sharing some inside tips and strategies that can boost your customer reach.
Before you can sell customers on your products and services, you need to sell them on your company. You need to convince them that your business is about more than making a quick buck. The same goes for potential employees, and even media. They all connect with organizations that have a greater purpose. The way many organizations do that is by developing strong core values and culture.
Many successful CEOs, founders and executives will tell you that the secret to business growth is to hire the right people. Employees play a vital role to your business in more ways than you may realize.They contribute to company growth, not just through their performance or the work that they do but as brand ambassadors. Although it is seen as cliche, the first question that most people ask when they meet someone new is: What do you do? Our careers and the companies that we work for form a significant part of our identity.
The retail sporting goods market in the United States continues to grow and grow. Between 2009 and 2014, the industry grew from $38 billion to $44 billion. Moreover, it isn’t just the industry’s growth that makes it an incredible business opportunity; it’s also the impressive profit margins. Research shows that the sporting goods market has gross profit margins close to 40 percent.
Making a presentation is intimidating. You rely heavily on programs like PowerPoint to give your potential investors or customers insight into your business. With technology continuing to improve, there has to be a better way. Well, there is! Whiteboard videos have taken the market by storm. It is not hard to understand why. We grew up watching our teachers guide us through tough math problems, foreign words, and more during grammar school through writing on the whiteboard. These types of videos are really a no brainer. We already are automatically inclined to perceive whiteboards as a tool for learning.
It is common for entrepreneurs and business owners to get so caught up in the day-to-day tasks of running their businesses that they often forget to take a step back and evaluate what is working and what isn’t – and how that can be translated into their company’s broader marketing efforts. Whether small e-commerce sites or major multinational businesses, most businesses have a few products or service offerings that generate the bulk of their revenue. Companies need to take steps to identify these revenue streams and develop strategies to marketing to them. So, how can you market to your main sources of revenue? When developing and implementing your marketing strategy, be sure to keep the following principles in mind.
Did you know that more than 500 million hours of video are watched on YouTube each and every day? Or that almost two-thirds of all Google searches feature video? Consumers increasingly value video content. If given a choice between learning about a product on a webpage via text or via video, an estimated 4 out of 5 would choose video. Just adding a video to marketing emails can drive up click-through rates by a staggering 300 percent, while embedding videos within landing pages can increase conversion rates by up to 80 percent.
There is no denying it: the athletic apparel market is one of the most lucrative apparel industries out there. Morgan Stanley predicted that the athletic apparel market will grow to an impressive $83 billion by 2020 – and just about everyone from Kanye West to Alexander Wang is clamoring to get in on the action.
Black Friday gets quite a lot of attention as the biggest retail day of the year. But believe it or not, Cyber Monday now surpasses Black Friday as one of the biggest retail days of the year. In 2016, the National Retail Federation reported that 108.5 million customers made purchases electronically over the Thanksgiving period – around 10 million more than made purchases at brick-and-mortar stores. Last year’s Cyber Monday, consumers had spent a staggering $540 million by just 10:00 a.m. In total, the day brought in $345 billion in sales, making it the biggest day in history for ecommerce.
E-commerce is one of the biggest innovations in the past few decades. Customers are no longer limited to visiting stores to find that perfect item. They can browse unlimited selections from the comfort of their own homes, reading up on reviews and easily comparing products from different organizations.
Media love can be fickle. For example, take the medical-testing startup Theranos. In 2015, was being called the most innovative health company valued at $9 billion, with its founder the youngest, female billionaire in America. Now it’s a dark tale of “what not to do” in business.
When you are on the rise, they love to cover you. However, they also will get the story of your downfall. Media was just as quick to turn on them as they were to prop them up once it was revealed that they weren’t upright and forthcoming in the beginning. The major takeaway: Don’t oversell. Be honest about your business and what it has to offer.