5 important aspects of a marketing action plan for small businesses

5 important aspects of a marketing action plan for small businesses
Every business must have a good marketing plan to be successful. Marketing helps a brand communicate its objectives and benefits to its customers and become widely recognized. It also attracts new customers and helps small businesses grow over the years. However, creating a marketing strategy is not as easy as it seems. It requires thorough research, time, and resources. Here are five essential components of a marketing action plan for small businesses. Studying the market When devising a marketing strategy, a small business must study the territory in which it is operating. This involves identifying potential threats, studying competitors, and assessing the firm’s strengths, weaknesses, and opportunities. A thorough knowledge of the market helps businesses properly navigate challenges and capitalize on opportunities. Recognizing the target audience This is one of the most important aspects of good marketing. Small businesses must understand their target audience’s behavioral, psychographic, geographic, and demographic traits. Doing so helps them tailor their marketing strategies so that they resonate with their audience. Setting a positioning strategy for products Small businesses must understand what makes their product unique and then highlight those distinctive features in their marketing plan. Customers are more likely to purchase when they know why a product stands out in its segment.

6 critical mistakes to avoid as a new entrepreneur

6 critical mistakes to avoid as a new entrepreneur
Starting a business is not only a significant milestone in one’s life but also a huge responsibility for the years to come. From planning and managing finances to making major organizational decisions and hiring the right team, entrepreneurship entails several activities demanding one’s undivided attention. The outcome of a meticulously planned and established business is often highly rewarding. So, here are five critical mistakes new entrepreneurs should avoid to increase their chances of success. Not setting concrete business goals The first step to establishing a successful business is to set concrete business objectives. One should begin by asking the significant question, “What do I wish to achieve with this business?” This can provide one with the purpose of starting the business. New entrepreneurs should then translate this answer into concrete, achievable objectives that can become the driving forces of their business. Not seeking guidance from established entrepreneurs No man is an island, and it only helps to seek much-needed guidance from businesspersons who have already begun their entrepreneurial journeys. Established entrepreneurs can provide sound advice on various aspects, from goal setting and team building to obtaining the required capital and resources and initial public offerings (IPOs). Having a poor understanding of cash flow Cash flow refers to the amount of money that flows in and out of a business.

5 benefits of text messaging as a small business tool

5 benefits of text messaging as a small business tool
Starting a business can be an overwhelming venture for aspiring entrepreneurs. Aspects of the small business, like demand, supply, and customer service, must be constantly improved so it can thrive. However, in the buzz of social media and its avenues, text messaging is often forgotten as a means to communicate. Surveys indicate that SMS marketing has a higher click-through rate and read time. Here is how text messaging can help a small business grow. Real-time communication A business can communicate with its client base in real time through text messaging, which helps improve response times and decision-making. SMS replies are about 60 times faster than emails. For instance, it may take 90 seconds to respond to a text, while an email may take up to 90 minutes. Improved customer service With the help of text messaging services, a business can easily follow up with customers regarding factors like appointments, complaints, promotions, and their quality of service. Through quick responses, a business can identify problems quickly and deal with them immediately. Ultimately, it helps boost the business’ loyalty and Net Promoter Score (NPS). Lead capture with web-to-text A web-to-text widget can help a business maximize conversation traffic in various situations. For example, the tool will let visitors immediately text the business about their queries or purchases instead of waiting for a reply to their email or spending time on hold on call.

5 reasons to get commercial vehicle insurance

5 reasons to get commercial vehicle insurance
Insurance helps cover unexpected costs and liabilities that may incur in the future. Investing in a decent insurance policy also protects your assets, be it rental or owned. If you are a business owner and own or rent vehicles that transport goods and consumables, you must invest in commercial vehicle insurance for the following reasons. There are several monetary benefits, some that also save tax in the long run. Some of them are mentioned below: Get additional cover Your regular auto insurance may not cover all costs that arise out of accidents or personal injury involving commercial vehicles. Also, most personal auto insurance policies are not valid for liabilities accrued out of vehicles used for business purposes. This is where commercial truck insurance will provide customized, comprehensive insurance suited to your business needs. Follow regulations The law in many states requires business owners to get a commercial vehicle insurance policy. The insurance is mandatory if your business transports goods and hauls heavy-duty equipment. Even if your company provides service from a vehicle, your auto insurance policy will not cover the liabilities. Any business, partnership, or corporation that owns vehicles for commercial use must buy this additional cover. Customized coverage One of the main advantages of buying commercial insurance is that you get custom cover for specific damage, repairs, or the replacement of certain parts.

6 top business credit card companies

6 top business credit card companies
The right business credit card can help you save thousands of dollars. Business accounts can earn more rewards like discounts, hotel stays, and cashback offers. You may also use these cards to meet short-term financial requirements. In case you haven’t applied for one yet, you must check out 6 of the top business credit cards that you can apply for to make your life easier. American Express Blue Business® Plus Card This is an ideal business credit card offered by one of the leading credit card companies and does not levy any annual fees. You receive twice the Membership Reward ® points upto $50,000 with no category restrictions, which reduces to 1% thereafter. The cashback earned automatically gets credited in your statement. The regular APR on this card is 13.24% to 19.24% variable. CitiBusiness® AAdvantage® Platinum Select ® MasterCard® This is an excellent option if you undertake frequent business travel with American Airlines. You earn 2 AAdvantage® miles for every $1 spent on eligible American Airlines purchases. Additionally, the card offers 2 AAdvantage® miles for every dollar spent on telecommunications, fuel, car rental, and cable and satellite services. All other purchases earn you one mile for every dollar spent. The annual fee is $99 (waived in the first year) and regular APR varies between 15.99% and 24.99%.

Business class flights and its features

Business class flights and its features
All of us have daydreamed about traveling business class when we make a steady shuffle from business class to economy. Yes, it lures us with its spacious cabins, and luxe and cushy comforts. So, is it worth flying in a first-class or business class flight? Let’s discuss some of the best business class flight features that will prove that it is worth every penny. Priority check-in For travelers traveling business class, the check-in process is a lot more convenient and easier. You don’t need to stand in the long queue to finish your check-in procedure. Go ahead and sit down at the waiting room seat while the staff handles the check-in for you. Extra baggage allowed Now, this completely depends on the policy of the airline. However, irrespective of the airline you are traveling with, the permissible baggage allowance for a business class is certainly more than economy class travelers. So, if you are a shopaholic, it could be a huge plus. Access to the special lounge Ahead of the boarding time, business class travelers can wait in the exclusive lounge dedicated to them. Again, it might vary from airline to airline and airport to airport, but in most lounges across the globe, you’ll get scrumptious snacks and food.

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5 early Black Friday deals to expect this year

5 early Black Friday deals to expect this year

Black Friday might be a couple of months away, but you need not wait until then to begin your annual shopping. Many retailers start advertising discounts weeks before and pick up the pace around Thanksgiving. To help you save time and money, here are five early-bird Black Friday deals that might be available sooner based on last year’s trends. Start shopping early to enjoy faster shipping and lesser supply issues! Save big on tablets, phones, and smartwatches Smartphones, tablets, and smartwatches are great items to gift loved ones during the holiday season. With Black Friday approaching, get ready for some exciting deals on these products from the top brands and retailers like Amazon, Best Buy, Target, and Walmart. You will find never-seen-before deals in stores and online that you can check out. Brands like Motorola, Samsung, and Apple offered over $100 off their best-selling phones last year, and you can expect better deals for 2022! But remember that the items on sale change regularly, so check the sites frequently to avoid missing out. Incredible deals on games, gaming laptops, and accessories Get the best savings on gaming accessories when some fantastic deals go live in a few weeks. There might be a massive price drop on games for PC, Xbox, and PS5.
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50 Black Friday 2022 sales to check out

50 Black Friday 2022 sales to check out

This year’s biggest Black Friday specials will likely offer some of the most substantial cuts ever across a wide range of popular businesses and brands. Stores are working hard to offer seasonal items and avoid supply chain problems. While major shops are expected to offer great bargains, it is essential to buy with local businesses, especially in the post-pandemic era. Based on the discounts offered last year, here’s a look at what you can expect this year. Nordstrom Nordstrom could offer up to 50% off hundreds of selected goods from leading brands, as was the case last year. Longchamp items, such as the Le Pliage Cuir Leather Shoulder Bag, were discounted by 20-30%. Kiehl’s skincare sets The Daily Hydrating Skincare Gift Set was discounted at $48 (original value $66), which includes full-sized versions of two Kiehl’s classics: Ultra Facial Cream with Squalane and the renowned Avocado Eye Cream, suitable for everyone. Home Depot Refrigerators Home Depot previously offered up to $900 off refrigerators. Refrigerator discounts of up to $900 are available at Home Depot on some of the greatest brands in large appliances. Shop for Black Friday deals on Samsung, LG, and Whirlpool appliances. Amazon Amazon has some of the best discounts, and the Black Friday sales are chock-full of must-haves!
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