Tag Archives: small business

Addressing Competitive Analysis Questions

7 Dec

Ongoing Competitive Analysis a Must

Good competitive analysis is essential. And that applies to large AND small firms. This post covers addressing competitive analysis questions. But first, let us begin with three observations by us.

  1. Detailed, accurate information helps firms make better decisions. And firms then enact better tactics. Yet, getting comprehensive, targeted data is not always simple.  (1)
  2. In the competitive global marketplace, marketers face a tough balancing act. On one hand, they must promote their products as superior to other offerings. But, customers may become unhappy because they buy something not meeting expectations. Then, they may be lost to the firm that over-promises forever. (2)
  3. Entrepreneurship can be both exhilarating and scary. It gives a person a chance to carry out a vision for a business. However, it may also entail risk. Motivation and an innovative business concept are great building blocks. Yet, they are not sufficient to prosper in a competitive market. Success as an entrepreneur — and growing over a long horizon — requires diverse skills and a solid approach. After starting up, entrepreneurs may look back and ask “what if”? What if I picked a different opportunity? And what if I listened to advice I got? Also, what if I better planned my cash flow? etc. etc. (3

 

Addressing Competitive Analysis Questions

With the preceding in mind, ask competitive analysis questions. And address them.

As Christine White reports for HubSpot:

“When was the last time you ran a competitive analysis? If you’re not sure, or if the last ‘analysis’ you ran was brief, you are missing important intelligence. And it could help you grow. Yes, each firm can benefit from regular competitor analysis. By performing a competitor analysis, you’ll be able to: (1) Identify gaps in the market. (2) Develop new goods and services. (3) Uncover market trends. (4) Market and sell more effectively. By learning any of these four skills, you will go down the path of achievement. But don’t get too excited to start. We need to nail down a few important basics.”

White offers 57 different questions to consider in a competitive analysis.

And by clicking the image, you can access a FREE competitive analysis toolkit: “HubSpot and Alexa.com teamed up to give you our competitive analysis campaign kit. Don’t know where to start? We have a guide to walk you through it. Ready to dive in? Check out the template.”

From the download link, save the zip file. Then open it in the folder where it is saved. You will find two resources: a guide and an interactive toolkit template. 

Addressing Competitive Analysis Questions. A HubSpot Toolkit.

 

Small Business Promotion: Free Resources

1 Nov

Big firms may spend a lot of money to promote their businesses. And they may use all types of offline and online media. But what about about small firms? Many don’t even use free information. They don’t read posts such as these. Marketing Tips for Small BusinessesFREE Marketing Planning Tools!  Today we look at small business promotion: free resources.
 

Small Business Promotion: Free Resources

According to Webbiy, a Web site creator:

“Starting a business is very daunting. It becomes tougher when a firm works on a shoestring budget. Furthermore, promoting a firm among other established companies can be expensive. But it is possible even on a tight budget.”

 “Before the Internet, small and mid-sized businesses had few ways to promote their goods or services. Banner ads and fliers can be expensive. To get the best return on investment,  here are ways to promote your firm without spending a fortune.”

  1. Online Business Directories — “They allow users to search businesses in any niche. These sites are good places to start in launching an online presence. These sites have a wide range of audiences who are also potential customers for your business.”
  2. Local listing services — “Many small firms overlook this option even though it is free. And it an easy way to find customers searching in your area. Google Places makes it simple to locate your business on Google searches. Besides, Google Places shows your exact location mobile-friendly map. Yahoo Local and Bing Places for Business are also free to register.”
  3. Social Media  — ” The world is using these social media sites. So make sure you create your business profiles and pages on them. Set up a personal and company profile on LinkedIn. Post offers on your Facebook page. And have a direct channel on Twitter.”
  4. Content Promotion Sites — “Submit articles on topics your customers are interested in. This includes sites like Ezinearticles, HubPages, and Articlesbase. They let you add backlinks to your Web site to give you traffic.”
  5. Press Release Web Sites — “Always shoot off a press release and submit it to popular sites like PRLog and Free Press Release every time you do something newsworthy. There are many other sites where you can make an impact like Open PR and 24-7 PressRelease.”
  6. Blog — “Blogs are a perfect way to connect with customers directly and get your name out there. The key to successful blogging is updating as often as you can.”
  7. Online Communities — “Every niche has an online community. Join it and contribute actively. These communities are also free places to promote your business. They let you add links to your signature or mention firm when the need arises.”

 
Click the image to read more.


 

Marketing Tips for Small Businesses

2 Aug

This post focuses on marketing tips specifically geared to small businesses, a group that often under-appreciates the importance and availability of marketing practices.

As

“You’re a small business owner. You don’t have an endless marketing budget, or an abundance of time that you can spend doing the marketing yourself for the that matter. You do, however, need to market your products or services so as to remain competitive. What do you do? Fortunately, there are plenty of marketing approaches that small business owners can adapt to successfully market their businesses without breaking the bank!”

 
Click the image to read 25 marketing strategy tips for small businesses that are proposed by


 

Best Blogs for Small Business

15 Nov

There are many great online resources for small business, including the Web sites of Small Business Administration, Entrepreneur, and Inc. They deal with a variety of topics to assist startups and other small businesses. In addition, there are numerous blogs that focus on information and advice specifically geared to small businesses.

Recently, CreditMonkey published “Best Small Business Marketing Blogs 2016: Top Experts to Follow.”   Here  are some of CreditMonkey’s choices. Check them out:

 
Click on the image to see why these are considered top blogs — and to see more blogs cited by CreditMonkey.
 

 

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