COURTING SOCIAL MEDIA

Until much after now, you are probably going to remain wowed by what the world has become with social media – the single space within which everyone has a voice and connecting with everyone else takes but a click. From the first connections that started on Facebook in 2004 through to Twitter in 2006 down to the Golden Era of social media beginning in 2010, the sense of the world as a global village has taken significant shape. It is within this shape that your business lives, exposing what deficiencies are present in your company when it denies the opportunity to serve a wider space with its golden services. A world without social media – well, you can take the lone trip to the stone age yourself.

With an estimated 1.65 billion monthly active users on Facebook, it is worth discussing what avenues are possible for any person that establishes itself very well within the market space present with Facebook. Social media is relatively a cheaper resort to reaching lots of people. A world without social media is a world that spends too much to accomplish less.

Social media has come to mean more than a place where a bunch of strangers bump into each other, irritate themselves to death and go to bed with expectations of a new day to continue the beef. It is now a culture of sort rather than convenience, exposing values and teaching new trends that dictate the direction of policies and convictions. It has become a tool for evaluating different opinions, chastising silly affiliations and whipping dissent into agreement. The process involved has not been the conventional dialogue everyone is notably comfortable with. In some extreme circumstances, it has involved bullying.

Nevertheless it remains to be seen and said, what impacts social media would have in the future industrial network. With marketing styles undergoing significant changes every now and then, it is really no mean and vague thing to say, that the world has not seen the full of social media.

SHOULD LOCATION MATTER

Your business would at some point in time or the other have to decide on where it is to be located. This decision is exciting and could equally be frustrating, given the implications it can wield on your business, in terms of convenience and costs. Definitely, an entrepreneur would have to consider a plethora of factors and map out the right factors that would facilitate growth of the firm.

Significantly, an entrepreneur has to develop an understanding of the various needs of all stakeholders in the business. These stakeholders primarily include staff and employees, customers and support services. The purpose of understanding these is to ensure that you operate in line with prevailing conditions. Your employees want to be sure they can have access to you at all times and your staff must not be stretched beyond limits to report to work. Essentially, you must understand that operating where support services for training and specialist consult services exist is fundamental to the development of your staff as it translates into overall success for your firm.

Another element you may erroneously dismiss is what impacts the location of your competitors, relative yours would have on the strides your business would make. Competition drives excellence. While you may want to maintain some proximity to your competitors in order to fancy your chances of knowing what strategies they are adopting and what new solutions are emerging, it is still important to draw into perspective, all other conditions that may place you at a disadvantage in this regard.

Location thus matters. Talk to us at KCC and we would guide you through what solutions are most relevant for your business. Talk to us today. Click here

 

Image Credit: Google Images

BETWEEN PRICE AND VALUE

Hold up! I am not about to tell you that the value of your product would influence your price and so make your products high on value. You don’t deserve to have this repeated to you again. There is a renewed focus on what interactions exist between price and value and that has huge potentials of enforcing customer satisfaction. It is an ancient rule nevertheless, tried, tested and proven to be the sole rule for showing you respect your customer’s trust in your enterprise.

Value, if it means anything at all, should definitely revolve around what worth your customers attach  toyour products and services. You should have a projection of what expectations your customers have of your services in order to meet their expectations and it is that knowledge that should among others, influence your pricing of the service. You definitely would not expect your customers to pay so much for crap and nonsense. A fundamental principle here is to make yourself a customer and question the will with which you would buy the very service you have offered for sale. If you cannot expend resources to buy what you are yourself offering for sale, then call off that whack product and save your image and your brand.

Essentially, it is established – there really is no new relationship or theory that can reveal the relationship between price and value. What you know already really is what you should still commit to. This cannot be overemphasized any further. Your customers would always equate value to price and vice versa. There are no shortcuts, compromises, negotiations or turning around this basic truth. If you cannot meet the expectations of your customers with your product, you may as well not even offer it for free.

Put all efforts to ensuring your products and services are high on value. Know a better rule? (silence) I didn’t think so either. Give your customers value for money. You would definitely be pleased you did. Talk to us today for more solutions. Click here

 

Photo Credit: Google Images

HOW TO MAKE PROFITS IN YOUR BUSINESS

At every point in time or the other, your business would have to convincingly make returns that outrun the costs it incurs for operations among other things. This is what profit means and it is a guiding principle for growth as it enables you to reinvest in your own business. It would be very silly to have to commence a fruitless adventure. Even sillier would be deciding to operate without a direct and known revenue source. The truth is even NGOs make some profits at the end of the day. The motivation and use of those profits is what differs from mainstream profit-focused companies. You are no Santa Claus. Determine a profit making strategy. At KCC, we believe the key is in reducing your costs. As much as possible, reduce cost.

In the course of your operations, you would incur costs on labor, equipment, maintenance, software, insurance, legal, rent on office etc. These are unavoidable costs you must factor as operational costs, if you want to keep the sanity of your books. The truth is these are essentially the elements whose combined efforts would keep you out of making profits. In the short term, the situation is even terrible if you do not have a strategic plan to effectively combat these costs while the long term may be guaranteed some sustenance from your earlier purchases you may make. That notwithstanding, you are not altogether absolved from the realities of huge spending to keep your business operational and your investments secured.

Hence, we recommend a deliberate resort to reducing these costs. If the cost of labor is expensive, consider automation or any other mechanism that ensures you reduce your cost of labor significantly. Endeavor to find cheaper equipment but still keep an eye for quality, keep a relationship with maintenance in order to guarantee you don’t embarrass your funds with continuous purchase of materials you have already purchased. Among others, keep your business low on spending but increase your brand visibility with the huge social media market space and let the qualitative service you are offering work a tremendous dose of smile on your fortune.

Your business would keep that smile as would you. Talk to us today on doing more. Click here

 

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