Clients’ loyalty is the main goal, which every company wants to reach. Positive brand recognition and regular customers are two factors that guarantee successful development of any business.
Many companies get used to receiving income from their old customers and they don’t attract new ones. This is cheaper and less labor-intensive. Attracting a new client costs five times more than retaining an old one. And that would be ok, but a big competition at the market creates a variety of choices for every person. And the companies start racing for new ideas.
Constant fight for “a place under the sun” boosts development of a service industry. Implementing innovations, creative thinking, experiments – all these factors lead to brand development and staying a household name with old clients and obtaining new ones.
Implementing innovations takes a lot of time. And it depends not only on investments that are needed for its development but on the ideas and ways of its implementation.
A lot of factors can influence one’s choice of stability or novelty. But there is one thing that stays constant – the world is rapidly changing and opens up new opportunities. And you shouldn’t ignore this.
How to Use TikTok to Promote Your Business
Does the hottest new social media platform TikTok confuse you? To some, it probably seems like just a lip-syncing video app for teens, but it’s much more than that.
If you use TikTok just right, you can introduce your business or product to a huge audience. In fact, according to InfluencerMarketingHub, TikTok has 500 million users worldwide, and it was the most downloaded app for Apple in Q1 2018.
Of course, TikTok isn’t the right platform for all types of businesses. Here’s how you can determine if it’s right for you.
Study the platform.
The last thing you want to do is join a social media platform and look like you don’t know what you’re doing. To avoid getting shunned by users on TikTok, you need to study the platform. By studying what type of content works on TikTok and how to interact with others on the platform, your business can fit into the culture naturally.
TikTok is all about fun and visually appealing content. If you take a look at the TikTok trending page, you’ll find tons of silly videos set to hit songs.
The app isn’t the place for serious sit-down sales pitches. TikTok is used primarily by people between the ages of 16 and 24, according to GlobalWebIndex, so you need to connect with them in a creative way if you want to find success on the platform.
Create fun content.
Now that you know TikTok is all about fun and creativity, it’s time to create fun, creative content of your own. Creating your own content is one of the easiest and least expensive ways to promote your business on TikTok. Plus, one of the biggest benefits of TikTok is that you don’t need to create highly-polished videos. Just pull out your smartphone and start filming.
While wacky videos are widely popular on TikTok, don’t try to create an outrageous meme if that’s not your business’ style though. Keep it simple. A light-hearted video that shows off your products will come across more authentic than if your business tries creating a viral meme and fails.
Launch a hashtag challenge.
Another way to promote your business on TikTok is by launching a hashtag challenge. A hashtag challenge is when you encourage TikTok users to create or recreate content and add your branded hashtag to it.
For example, the brand Guess was one of the first companies to launch a hashtag challenge. They encouraged TikTok users to film themselves wearing Guess’ new denim line with the hashtag #InMyDenim.
And recently, as stated in this Mobile Marketer article, Chipotle’s #GuacDance campaign was TikTok’s highest-performing branded challenge in the U.S. The promotion resulted in Chipotle’s biggest guacamole day ever, with more than 800,000 sides of the condiment served.
A fun hashtag challenge not only promotes your business, but it also drives user interaction and engagement.
Work with TikTok influencers.
TikTok-specific influencers might not be huge yet, but they will be and you can work with them to widen your reach on the platform. Generation Z is typically opposed to anything that looks like a traditional ad. So, working with TikTok influencers can really help you make a connection with that generation of users.
Speaking of Chipotle again, they partnered with influencer David Dobrik for a paid marketing campaign for the #ChipotleLidFlip challenge and got more than 100,000 submissions and 230 million views.
To get results from TikTok influencer marketing, just make sure the influencer’s audience matches your target audience. To find the right influencer for your business, you can look for online tools that let you search bios on TikTok, look for mentions of other brands, the most popular languages used in an influencer audience and more.
Take advantage of TikTok advertising.
It took a while but TikTok has finally introduced ads to their platform. TikTok offers four different types of ads including:
- Infeed Native Content: This type of ad is similar to Snapchat or Instagram story ads and supports multiple features like website clicks or app downloads.
- Brand Takeovers: This lets brands take over TikTok for the day. They can create images, GIFs and videos with embedded links to landing pages or hashtag challenges.
- Hashtag Challenges: Instead of trying to make a hashtag challenge go viral on your own, you can use promoted hashtags to get more engagement.
- Branded Lenses: Branded lenses are like the Snapchat 2D and 3D lenses for faces and photos.
As with any social media platform, ads can help you reach a ton of users on the platform. TikTok also offers precise targeting so you can make sure your ads are reaching the exact users that would be interested in what you have to offer.
Over to you.
So, does TikTok make a little more sense to you now? If your business has a younger target audience, TikTok is the perfect place to capture their attention. Use these tips to make sure you get the most out of your TikTok promotion strategy.
By Syed Balkhi
Communicating Purpose Can Create a Boom in Business
Any company, from a startup to a conglomerate, that wants to connect with its customer base may want to rethink its reason for being. Truth is, we’re watching companies like never before. While American politics and talk shows split everything into left and right extremes, the majority of us live in the middle. That has left a plethora of interests to serve. Less plastic in the oceans, reasonable gun control, inclusion and acceptance, free speech — who doesn’t want some of that? Not surprisingly, seven in 10 consumers today believe a CEO or company’s actions can make a significant difference in social or political issues, according to a 2019 Gartner study.
But here’s the twist: Purpose is no longer just about a better world. It’s become good data and dollars, too. At the recent Sustainable Brands conference in Detroit, ImpactROI, a consultancy tracking purpose brands’ business impacts, reported findings that anyone with a P&L responsibility should be clamoring to learn more about.
Through analysis and in interviews with CEOs, ImpactROI discovered that when done well, purpose-centric companies see a 6 percent increase in share price; 20 percent increase in sales; 13 percent increase in productivity; 50 percent decrease in employee turnover; and a sweet pop in “market reputation.” Projecting a company’s passion and point of view beyond a socially-responsible supply chain, and making it profitable, is arguably capitalism at its best.
Still, little has been said about the internal company landscape around purpose. Being a true activist company requires a lot more than barbed copywriting and a famous face. The corporate profiles emerging today of brands slinging purpose are starting to take shape. Some of it’s downright inspiring. Some of it no so much.
Walk into any pitch or marketing meeting about purpose, and these are the gold standard logos: Patagonia, Toms, Whole Foods Markets, Kenneth Cole, etc. Down to their DNA (often the DNA of their founders), these are brands born and operated on some kind of authentic calling. The $200 billion natural food and products industry is actually built on this very idea. Even tech startups like Lyft quietly do awesome things (food deserts and voting), and companies like Nike have smartly nudged powerfully deft positionings to something well beyond product benefits (free speech). What buckets these companies as OGs of purpose is a deep commitment to recognizing that what they say and do matters. The other critical ingredient: The company leadership doesn’t care if you don’t agree. They know their tribe, often lead it, speak to their cultural concerns and get rewarded for it. So tip of the hat, OGs. We’re watching and learning.
The “Social-Purpose Immigrant”
There has been no more important article written about the eco-system of purpose companies than “Competing on Social Purpose” by Omar Rodríguez Vilá and Sundar Bharadwaj in the Harvard Business Review. They coined the term “social purpose immigrant.” These are mostly big companies whose leaders made the call, mashed up marketing and responsibility and are steering monster legacy brands and budgets into purpose. Levi’s (gun control), Unilever’s Dove (real beauty), Beam Suntory’s Cruzan Rum (rebuilding hurricane-ravaged St. Croix); the c-suite knows purpose done well is not only right but poised for profitability. They know their work will nudge culture, even be studied (success and failures). They know courage will inspire employees, suppliers and colleagues alike. They are in the midst of tearing down powerful, old-school corporate walls and fears, and let’s all hope they win.
Teenage years can be tough. Mood swings. Insecurities. Mixed messages. And all of it wrapped around a world with seemingly too many rules. Yet there’s that insatiable thirst for inspiration. In the world of purpose brands, there are the Adolescents. Big or small, the company culture remains enthusiastic for a purpose, but something (often someone) gets in the way. The result: watered-down platforms; triggered cultural landmines (e.g. Kendall Jenner and Pepsi); or regressing to a “purpose” that aims to fix the very social problem the company is causing (after all, a beer company championing “Don’t Drink and Drive” is not exactly reaching for a higher calling). These Adolescent brands might admirable and even responsible, but are ultimately destined to become white noise.
The Divided House
These are the saddest of companies dabbling in purpose. As a family in conflict, the tensions within these halls (often big, legacy brands) are as physical as much as emotional. Corporate social responsibly and marketing are located on opposite ends of the building, led by leaders with different agendas, directives, lexicon and LinkedIn trajectories. Employees are often split along older versus younger generational lines. No one — be it the c-suite, marketing or CSR leadership — is truly convinced purpose can be a real business KPI. If any of this sounds familiar, and your company is not actively tearing down internal divisions, a purpose agenda will fail, and may even become dangerous.
The Green Washer
These missions remain real, gross and not hard to spot. Here’s how they work: A so-called “purpose project” is handed to a mid-level director, stuck with a shallow brief and a pimple of a budget. The product chain may be celebrated, but on a closer look, it’s really not pretty (as one CSR exec from a big brand once told me, “Some things don’t get talked about.”) The culture is often toxic. The leadership is focused on quarterlies, and at best, doing good means wrapping around a big-name charity and hoping it bought a halo effect. For me, the clarity and confidence of turning away this business always feels pretty damn good.
So there you go. A snapshot of companies that get purpose culture and strategy right. Or not. Either way, 10 years from now, purpose will likely be a discipline, embedded in a company’s master brand, maybe led by the Chief Purpose Officer, just like digital, experiential and design before it. After all, when I sat at a J. Walter Thompson media desk for my first job in 1991, “social” was simply inconceivable. Now, with purpose brands making real money and growing fast, and employees feeling pretty good about their jobs, someone will write about these early days and pioneers. So pick a side. History’s being made.
by Jim Moscou
Five things you never need to buy new (the savings will blow you away)
We all need stuff, from cars to laptops to clothes. That doesn’t mean you have to walk into a store and plunk down money for brand new items each time. Just as the new car you drive off the lot immediately loses half its value — congratulations on the new used car you just purchased — there are plenty of things you can buy secondhand or refurbished.
Consider rentals for rarely used items. You’re unlikely to purchase 80 chairs and a tent for that backyard wedding. How often would you actually use a punch bowl?
Here are five categories of stuff you should definitely not buy new. The money you save can be a much-needed infusion to your emergency fund or a boost to an investment account.
1. Save a bunch on your ride
New cars are for people who are either really rich or who shrug at the cost and feel it’s worth it. For most people, the savings realized from buying pre-owned (if that sounds nicer to you than “used”) is so substantial as to overcome any hesitation.
One strategy: Look at cars that are nearly new, with a late model year and low mileage.
“Purchasing a car that’s a few years old and loaded with features can potentially cost less than buying a newer vehicle that only comes with basic features,” said Darren Newberry, senior vice president, store operations at CarMax, the used car retailer. Do your research, narrow the choices and make sure the car is thoroughly inspected.
“Avoid vehicles with frame damage, flood damage or salvage history,” Newberry said.
2. Baby on a budget
What’s the most common thing you hear about babies? They grow up so fast.
It makes sense not to spend a bundle on things they’re going to use for a short time.
Save money by renting, borrowing or buying secondhand occasional-use baby gear, says Fran Maier, CEO and founder of BabyQuip, a baby gear rental service. An expensive baby jogging stroller can run more than $300. You might need a baby backpack for just one annual family event. Renting, on the other hand, could cost about $10 to $15 a day.
Parents sometimes rent pricier gear for a few days before deciding to buy, Maier says.
If you buy used equipment, including toys, always check it against a product recall list. The website SafeKids.org has a list of recalls by month. Sign up for recall alerts at the Consumer Product Safety Commission. Make sure a secondhand car seat has never been in an accident, Maier says.
It’s not just equipment, but everyday clothes and toys can burn up a budget. “My kids are hard on their toys and pieces are invariably broken or lost,” said experienced mom and financial independence podcaster Wendy Juvenal Mays.
“In my opinion, buying toys new is like throwing cash in a fire,” she said.
To cut down on frustration, she buys secondhand at flea markets and garage sales. “The kids simply don’t care,” she said. “It is new to them and they have just as much fun.”
3. Laptop luxury for less
You can save hundreds of dollars when you buy refurbished electronics, and there’s a lot to choose from.
“The list [of what’s available] is getting longer,” said Chris Raymond, deputy editor of electronics at Consumer Reports in Yonkers, New York.
Apple and Samsung both offer refurbished phones, as well as laptops and computers, on their websites. “Even refurbished headphones,” Raymond said. You can now buy high-end Beats or Bose electronics.
“Be careful,” he said. “Not every retailer defines refurbished in the same way.”
According to Raymond, Apple and Samsung, for example, will do more than just clean a phone. They’ll actually look at and replace many parts. “You end up with a new battery, new outer casing, new earphones and a new cord,” he said. “If you buy from the right place, you wind up with a phone that looks brand new and operates like a brand new phone.”
Pay attention to the warranty, because they vary. “Samsung and Apple give a one-year warranty,” Raymond said. Other places may be only 90 days.
The big thing is great prices. A smartphone can run $300 to $500, about half the cost of a premium phone, according to Raymond.
4. A wallet-friendly bottomless closet
A big event means putting on something you almost never wear and may not even own.
Men have rented formalwear for decades, but women now do, too.
Rent the Runway has brought the cost of a heart-stoppingly pricey dress down so it’s comparable to a restaurant meal instead of your monthly rent. You can rent a Badgley Mischka evening dress (retail: $935) for $55 to $70, depending on the number of days.
The company started with dresses for special events and moved into workday clothing subscriptions.
Melanie Hamilton, 40, is sales leader for a large tech firm and a fan of the subscription service for her workday wardrobe, since it means not having to repeat outfits frequently.
“I literally buy [only] bags and shoes on my own,” Hamilton said. She estimates her savings at around $1,000 a month since her position requires a polished wardrobe.
Other fashion retailers, including Ann Taylor, have also begun offering workwear subscriptions that can cut down the cost of buying new clothes.
5. Before you invest in a hammock …
Choosing a new hobby or sport is exciting. It can also be expensive.
It’s not just skiing that’s spend-y — the cost of outfitting a teen for hockey can bump up against $1,000.
Definitely rent, especially to start, or buy secondhand. One dad even started a lucrative business selling used hockey equipment.
Most people do not camp every day. Instead of jumping in and buying tents, stoves, backpacks, bear canisters and gear, try renting. REI, Eastern Mountain Sports and other sporting goods stores are glad to give you a taste of the equipment before you invest.
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