How to Become a Better Marketer & Tips For Your Business Startup

You just launched your business. You make all the operations, finance, and marketing decisions. But how well do you really know your market? Are you doing everything you can to maximize ROI from your campaigns? Many people think they know their market all too well, unfortunately, that is not the case. In this post, I will discuss the various steps you should consider to better understand your market and hopefully maximize your return. The biggest pitfall is lack of planning because people don’t take the time to layout a map of what they need to do. That is why I’ve developed an outline for you to consider when planning for your own business.

Step 1 – Know Your Environment

The first thing you should do is prepare a situation analysis. You should firstly start by looking at past business and marketing plans. The whole point to this step is to analyze your environment. This includes identifying competitors, the various macroeconomic factors that impact your environment and the various driving forces behind these changes. Typically, the driving forces affect legal, technological, and market related factors, so you should be aware of how these changes will affect your environment and hence ability to sell. The next step is for you to prepare a SWOT analysis of your own company. This is an effective tool to analyze your company’s internal strengths and weaknesses, and your external opportunities and threats you could face. One of the most important parts is to consider your competitor’s strengths and weaknesses since that will ultimately help you identify your own competitive advantages.

Step 2 – Objectives

After you understand your environment, your next step should be to formulate your objectives. Your objectives should be unambiguous and very specific. Each objective should cover three broad aspects: What are you trying to accomplish, what and how much do you need to get there, and a specific time frame. Essentially, this ensures your objectives are SMART (Specific, Measurable, Attainable, Realistic, Time bound). An example would be: Increase online sales by 25% by the end of Q1 09. Knowing your objectives means knowing exactly what you want to do.

Step 3 – E-marketing Planning

After you’ve established where your company is and where it should be going, you must prepare the strategic planning process that will outline how your company will get to where you want it to be, that is, to accomplish your goals. You should then conduct a Market Opportunity analysis which includes demand and supply analyses for segmenting and targeting. The demand analysis evaluates the potential profitability and sustainability of potential market segments. The segment analysis should draw conclusions about the characteristics about your target market, including the demographics, psychographics, and past behavior of consumers with similar products. By doing the Segment analysis, you can determine the level of demand for your product or service and you can better anticipate behavior. You can also tailor your product to conform to your target markets needs you have identified. The next thing you should do is consider how you’re going to differentiate your offerings and how you plan to position your product, services, and brand against your competitors in the target market.

Step 4 – Marketing strategy

The next step is for you to develop strategies regarding the 4Ps. You should outline specific plans regarding your product offering, your value proposition (price), how you’re going to distribute your offering (place), and how you’re going to effectively promote it. One of the most important parts to this step is your value proposition. You must consider the margins you think are fair by deciding how much you are going to charge, and you should also have done some simple financial calculations such as breakeven points, NPV, and IRR so you have a better idea of what price to charge. By taking the time to plan, you can better forecast future cash flows and mitigate capital shortages and also even determine if your goals are realistic. You should charge a price as close to the industry equilibrium or try to differentiate your price based on value added.

Step 5 – Budget

This is one of the most important parts in your marketing plan. Here you should try to forecast the revenue in units and dollars you will receive from each of your revenue streams. Also, don’t forget to consider intangible benefits as they count as well. It is important to be reasonably conservative (especially forecasting near your launch or at the first level of your product cycle) because most of the time revenue is materially less of what was first expected. You should also carefully consider your expenses, including marketing, operating, administrative, technology and other expenses. Expenses are also usually more than you first anticipate, so plan accordingly. You should then calculate the return on investment (ROI) and the internal rate of return. These results will tell you if what your doing has potential and if you should pursue your business idea. Just remember, not all businesses are initially profitable, it may take some time, just ensure you have the required capital to be successful over time.

Step 6 – Implementation

This step is all about what you’re going to do to accomplish your objectives. There are a variety of marketing mediums, including online marketing, direct marketing, website advertising partnerships, etc. There are endless possibilities to begin implementing your plans and to promote your products/services; you just need to choose what’s best for your offerings based on price, value, and simply what’s appropriate.

Step 7 – Feedback

Feedback is extremely important. You should implement various performance metrics to help you evaluate your progress. You can do this effectively by developing a Balance Scorecard with all four dimensions, including the Customer, Internal Financial, and the Innovative/Learning dimensions. For each dimension, you should come up with a goal, and how you can measure that goal. Here are two examples.

Financial Perspective:

Goal: Lower customer acquisition costs. Measure: promotion costs/number of customers

Internal:

Goal: Improve tech support. Measure: Time to complete calls, number of satisfied callers.

Side Note: If you have a website, it is important to ensure your website becomes noticeable online. You should ensure you optimize your content for search engines (SEO). You can do this by making SEO friendly URLs (the long ones that describe your title/date). You should also note search engines analyze the number of times keywords appear within pages. Search engines also consider the number of high ranking websites that link to your site, so try to partner up! Why is SEO important? Because it drives traffic which can convert into sales. A good page rank can also keep prospects away from your competitors.

If you are not interested in สล็อตออนไลน์ , then you have already missed a lot.

Tips for Starting Your Own eBay Women’s Clothing Store Business

Launching your very own women’s eBay clothing store is a great way to begin a journey of financial freedom and independence while working from the comfort of your own home. Starting your own eBay women’s clothing store requires a bit of planning, preparation and some creativity to get your store off of the ground and running. The more you prepare to run your online store, the easier it will be once you begin to receive orders from those who are interested in the merchandise you have to offer.

Tips for Choosing Your Inventory

Determine what type of merchandise and inventory you plan to stock within your online eBay store before you begin searching for merchants that are right for your business. Create a list of the type of inventory you want to stock along with specific sizes you require for each piece of clothing or good you are interested in. The more detailed you are with your budget and specific about the type of clothing you want, the easier it is to work with merchants and wholesalers who provide what you need for the industry you represent.

Keep in mind any colors you want to offer as well as size charts from each vendor before you place any order to ensure you keep your customers as satisfied as possible when they make a purchase from you.

Finding the Right Wholesale Suppliers for Your Business

Finding the right wholesale suppliers is also necessary when you are shopping for a women’s clothing store on eBay. Finding a wholesaler online that caters to those who have eBay shops is highly recommended to purchase high-quality products and merchandise at a discounted price, especially when ordering in higher volumes. Shopping online to find the right wholesalers is a way for you to save time while also getting more access to hundreds and thousands of items depending on what you plan to sell to your customers.

Avoiding Shipping Nightmares

Avoid shipping nightmares when ordering any of your products wholesale by reading and reviewing all terms and conditions that have been put in place by wholesalers and other merchants you are using to purchase your items. Be sure to read the terms and conditions of all vendors you work with when operating a store of your own on eBay, especially if you plan to order items in bulk. You may also be able to find discounts from various merchants with the more you order in wholesale.

Importance of Pricing Factors

It is essential to factor in the pricing of your items and the markup you want to charge before launching your online eBay women’s clothing store. Consider the price you have paid for each item before marking it up and selling it to others. Additionally, it is also important to consider whether you are paying for shipping or requiring your customers to pay for shipping before setting a price for the merchandise you have for sale. If you plan to pay for shipping yourself, it is highly recommended to consider marking up the total cost of the item more to increase profit margin.

Consider Potential Fees

Whenever you have an eBay shop for women’s clothing, it is necessary to consider all PayPal and eBay fees you may encounter each time you make a sale or transfer your funds to different accounts online. Your eBay account may charge you for each sale that is generated, which is important to keep in mind when you are setting your prices online based on the amount of profit you are looking to generate in revenue altogether. Additionally, PayPal also takes fees depending on the type of merchant account you currently have as well as the number of sales you are making regularly. Read the terms and conditions of both sites before you begin selling your merchandise.

eBay Feedback Run-Ins and How to Keep Everyone Happy

Although you may ship your items on time and deliver a high-quality product, it is important to be realistic and to expect poor feedback from time to time, often from a difficult customer. It is essential to push for positive feedback from all customers to help negate any negative feedback you receive with your eBay account.

Learning all about the selling and marketing process of running an eBay store is a great way to get started in running a successful online women’s clothing business from home. The more time and effort you put into building your own eBay store with high-quality goods at affordable prices, the easier it is to build a loyal following of fans and potential customers for your brand.

The 3 Core Values for a Successful Product Positioning

So you want to know about successful product positioning?

I understand how this issue affects you and your business. Actually, I had the same issue too when I was starting mine. So I spent time looking for techniques to use to successfully position my products. Having done the research, I certainly understand how tricky this issue could be for you.

Most ‘Me-Too” businesses go broke. You have to stand out from the crowd and here is why.

But first answer this question… What makes your business different from your competitors? Got the answer already? Great, that is good news.

Think about this… The fact that other businesses fail means there is less so-called competition cluttering up your market place.

Losing money is not clever and of course the word ‘bankruptcy’ strikes a raw nerve in everybody involved. I understand. The last thing we all want is to get to that point in our business.

So here is the best way of avoiding the problem of bankruptcy. Look for ways to successfully position your productso that you do not have any competition. Make your product or service unique.

The 3 secrets are these…VP, U.S.P and U.B.A

1. Value Proposition –This states your company’s core values. What you want to be known for. What makes your company special? Write it on a piece of paper. It should be no longer than 4 sentences and contain no fluff and no filler.

2. Unique Selling Proposition –This states what is unique and different about your product or service. If you are selling a product that other people sell too. Find a way to add value to your offer. Add something that makes your offer unique.

3. Unique Buying Advantage –If the added value that goes with your product really resonates with your customers then your U.S.P will instantly become their U.B.A. So find out as much as you can about their pain points.

Finally, the best way to do this is to ask them. They will be pleased that you have taken the time to listen to their concerns. This will build rapport and customer loyalty.

Warning: These 3 core product positioning values must be aligned. You must feel congruent with them. Success will then be a short step away.

Ten Things You Must Do When Launching a Web Based Clothing Line During a Recession

Times are tough there is no doubt about it. It seems like whenever you turn on your computer or the TV there is an announcement of a new company collapse that will affect you and your business. With the current state of our economy; owning a clothing line either online or at a brick & mortar location you cannot hide from the recession. There are plenty of ways to increase your web traffic but you have to muster the strength and do it. Here are some ways to further your reach online to launch your business and keep it growing.

1. SEO – Optimize your business’s website for search engines. If you have a store, chances are there are specific search terms used to find your type of store. Get those certain keywords throughout your website so people online can find you. SEO works like a magnet for your targeted community. The broader the words the longer it will take, but if you have some products that cater towards a “niche” audience then SEO will be your businesses best friend.

2. Launch a Blog – If you haven’t launched a blog for your clothing line or business; this should be a must. This is a great way for your brand to have a voice. You can write about anything and everything related to your business. When you have a new product launching or even if you caught your business partner on camera falling out of his chair; you can allow the world to see it with your blog!

3. Learn to Write – If you are not planning on marketing your company than don’t bother starting it. If you want others to see your vision, you will have to be able to write. Many companies, when first launched, are tight on funds. You will find yourself trying to do as much as possible for the least amount of cash possible. Writing articles and press releases will be one great way for others in the community and the press to start recognizing your brand.

4. Social Networking – There are so many different ways to find people online these days and most of them are free! Setting aside sometime each day to build up your presence online through websites such as Myspace and Facebook are a must. This is your audience for clothing. Launch a profile and connect with your friends to start. Engaging in conversation with your friends at first will allow others to start to see your clothing and slowly it will spread. Make sure you leave your social networking profile links on your website so your web traffic can come over and connect with you.

5. Collect Emails – Make sure your website has a way for your visitors to leave behind their email addresses. Once you have collected a decent amount of emails you can then regularly distribute a company newsletter to stay on everyone’s radar.

6. Make a Video – Making a video might take a little more time but chances are someone in your circle of friends knows someone who can use a video camera. Put together a short video commercial representing your brand and company and launch that video on sites like YouTube and Vimeo. Wait. Be Patient. Take your time with the video and make sure it has your stamp of approval. Remember Quality sells. If you try to put together a slide show on your movie maker software you might do more harm than good for your brand.

7. Be Unique – If your product is appealing and consumers are purchasing your clothes, even during a down time, that’s a great start. It is important to be unique by differentiating yourself from others. Include some fun items in your shipments such as stickers, cards or any type of branding material. This is just one creative inexpensive way to market your brand. When times are tough and money is tight, you can always get creative with packaging! Nobody wants a dingy, beat-up brown envelope with a t-shirt stuffed into it.

8. Be Willing to Learn – When you first launch your clothing line you may not be able to pay employees to accomplish tasks. This is “boot strapping time” and you will need to learn how to accomplish many things on your own. There are many blogs, bookstores and online teachings available at your fingertips. Start learning how to market yourself online, design websites and write articles. It’s never too late to learn something. Like they always say “If you want something done, you got to do it yourself!”

9. Exchange of Services – Once you start educating yourself, you will know things others don’t. When first launching your clothing line, offering exchange of goods will be important. Don’t go giving away your gear to just everyone; but if you know a photographer and you need some professional photos taken for your website; offering free clothes for kick butt photos is worth it! You will have to gauge when it is appropriate for your budget.

10. Learn to Sleep Less – Remember that Rome was not built in a day so don’t expect your brand to go worldwide the first week. If you launch your business when you have a day job you will absolutely have to wake up early in the morning and stay up late working to get things done. You have to hustle, work hard and eat, breathe and sleep your clothing brand. Businesses do not build themselves! You can sleep when you retire… until then it is balls to the wall!!!