In this era of information, businesses are searching for advanced solutions to the issues they face. The internet has been both a benefit and a mystery for businesses. Brand leaders and marketers are online continuously trying to figure out the Rubik’s Cube that is online marketing. The problem of doing business on the internet is that it is fairly new as far as platforms are concerned, and everyone is looking to find how they can implement the various outlets online to promote their businesses.
For years, marketers have been following the same protocols to build their client base with mixed results. The days when companies sought to build their customer database by seeking out individuals has resulted in diminishing returns. Companies have begun using the tools that they have traditionally used to market to individuals to market to other companies. Account-based marketing has breathed new life into the marketing strategies of many companies. Along with the power of CRM platforms, ABM has given businesses the opportunity to earn more by doing less.
What is Account-Based Marketing?
With traditional marketing online, the concept was to identify a key demographic that represents the ideal customer or client for their product or service. Account-based marketing is a strategy that focuses squarely on targeted accounts that lead to companies as clients rather than the public.
The ABM strategy uses personalized marketing campaigns that work to build a rapport with the contacts of the desired accounts. For instance, if a business decides that they want to service a national company with their products, they may begin to engage the VP, or other influential people in the company, with marketing emails personalized to speak to their values and needs. This type of strategy is perfectly suited for CRM platforms.
What is CRM?
Customer relation management (CRM) platforms are software applications that are used to compile, engage, and monetize a prospect and customer database. These platforms organize and analyze the data gathered about the current customers and prospective customers for the benefit of building a relationship and marketing special offers.
There are six features of CRM platforms that increase the odds of successful ABM campaigns. These strategies are as follows:
Lead Management: refers to tracking sales leads and distribution
Customer Service: is made easier by using the customer data, purchase information, and patterns of each customer
Marketing: targets customers and prospects with personalized campaigns
Workflow Automation: automatically performs repetitive tasks that are crucial to the success of your marketing strategy
Business Reporting: complies reports on sales, customer care, and marketing
Analytics: studies the data gathered to assist in the execution of the marketing strategy
Your Ideal Customer Profile
The first process involved in ABM is creating a profile for your ideal customer. Rather than looking for a specific demographic, you are looking for the types of companies that would likely be interested in your product offering. You need to identify companies that are worthy of your marketing efforts and those that are likely to be a waste of time.
Compile Key Data About Customers
For CRM to work, it must be fed data to categorize and analyze. Whether it is a company that you are seeking to acquire as a client or a business that is currently doing business with, CRM platforms will collect and organize this data to strengthen your personalized campaign for each account. Knowing the purchasing cycles, needs, and contact information for your customers and prospects gives you the insight needed to draft focused marketing transmissions for these accounts.
Identify Profitable Accounts
When data is properly organized, it paints a clear picture and tells a story. CRM software is easily able to identify where the bulk of your business is coming from. It is also able to identify accounts that are underperforming. Account-based marketing campaigns can benefit companies by only focusing on accounts that are performing satisfactorily.
Automate Your Workflow
If you are required to manage a large volume of accounts, the automation of your workflows will ensure that all of your accounts get equal service. Using the automated marketing features in your CRM software, you can automate workflows based on set criteria programmed to trigger specific tasks. An example of this would be an email being sent after a prospect downloads a piece of content. The CRM is triggered by the download to send the personalized email.
Disseminate Social Media Posts Wisely
Social media has become an important factor in business marketing. By knowing the targets that you are looking to attract at the onset of your strategy, you know the type of social content to produce. Many CRM platforms are keen on delivering scheduled social media posts.
Matching Leads to Accounts
Being able to match leads to their accounts is a fundamental part of ABM. Being able to attribute the leads to the appropriate accounts is the only way you can effectively execute the ABM strategy. If you are going to implement an ABM strategy, you will need to make sure your CRM can properly match leads to accounts.
Conclusion
As you can see, the power of CRM will amplify your ABM marketing efforts. Just as there are always early adopters of new technologies, the ABM movement offers a tremendous opportunity to market leaders to increase their profits by looking for whales rather than guppies. Building and maintaining strong relationships with other businesses can create amazing opportunities for your business.
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After all, there are over 30 million small businesses operating around the United States. That stacks up to a huge degree of competition.
The result? Standing out from the crowd, cultivating a well-known brand, attracting loyal customers, and driving sales isn’t easy.
Is your basketball-related business seeking ways to boost its image and generate greater returns?
The good news is that a whole host of strategies can be employed to help. But, believe it or not, basketball promotional items are one of the best.
Promo items are nothing new. Eager enterprises have handed used them throughout time to drive results. It’s a classic marketing strategy that flouts the trend toward digital ads and continues to prove effective.
The trick is picking the right items to use. Want some ideas for the best basketball promo items?
Read on for 9 of them!
1. Foam Gloves
Everybody loves foam gloves.
Every sports-mad household in the country needs at least one in their home. How else would you show your support for a favored team at the weekends!?
That’s good news. The best promo items are those that provide value. Foam gloves are fun, entertaining, and are sure to be put to use.
Pop your logo on the front (and back) and you know it’ll get great exposure. Everybody from the person wearing the glove to the other fans in the vicinity will see it. Even better, that gloves might be worn over and over again, spreading your reach over time.
2. Basketball Stress Relievers
Stress relievers are a classic promotional item.
Ask most businesses who employ promo items and they’ve almost certainly used branded stress balls in the past. However, for obvious reasons (i.e. their shape), they make perfect sense for basketball-related businesses.
A mini basketball-shaped stress-reliever is sure to find a place on desks around the country. You can just picture a basketball-mad exec squeezing away after a difficult meeting.
With your logo on the front, they’ll have you to thank for their better mood.
3. Mini-Basketball Hoops
There’s a time and place for generic promo items.
They make a brilliant investment when they provide true value to the end-user. However, sometimes, it’s the fun and unique items that work best.
Let’s face it, everybody’s received a free branded pen in the past. They’re nice, but will never leave a lasting impression.
A mini-basketball hoop, though, is something new altogether.
They make personable, fun-filled giveaway items that people are sure to use. They’ll be put on the backs of doors in bedrooms or offices. People will play with them for hours on end as a happy distraction from tedious times.
4. Mini Branded Basketballs
This one leads on from the last:
A mini basketball hoop needs a mini basketball to use with it!
You could combine this promo item with the last or offer it individually. Either way, you’ve bagged yourself another fun gift that people will get good value from.
Fun promo items have major benefits to business. After all, your audience associates your brand with the fun they’re having! That’s invaluable.
It informs public perception of your product/service and facilitates future custom.
5. Basketball Jerseys
Nobody’s ever going to turn down a branded basketball jersey.
Most people love getting free apparel of any kind. However, if you’re basketball-mad, then a free jersey is a big deal.
They may wear it all the time- to games, practice sessions, and around the house. It’s a valued gift that will endear your business to them. All the while, your brand enjoys newfound exposure and reach as people come into contact with it through the wearer.
6. Basketball Tote Bags
Tote bags are another traditional promotional item.
There’s a good reason for it too: they’re endlessly popular with users!
These bags are another practical product that provides value to the consumer. They’ll be used for months or even years in their day to day life.
Why not put a basketball spin on things? You could design a totes bag that’s shaped like a basketball, for example, or has a picture of one on the sides. However you do it, you’ll have created a fashionable and iconic bag that basketball-lovers will wear with pride.
Pop your logo on the side too and you’re onto a winner.
7. Basketball Keyrings
Almost everything we said about tote bags can be applied to keyrings.
They’re classic promo items. They’re happily accepted as free-gifts by consumers. And they can easily be customized with a basketball design.
The only difference is in practicality. Keyrings aren’t all that useful in and of themselves.
Their real value comes in identity. People sport particular keyrings to let others know something of themselves. Someone who owns a Harley-Davidson might have a Harley keyring. Someone who loves their Porsche might have a Porsche keyring.
And someone who loves basketball might use a basketball keyring!
8. Basketball Bottle Openers
Basketball bottle openers could be cool too.
Imagine a bottle opener shaped like a basketball, with the opening gizmo in the center. It’s a simple item, for sure. But it’s hard to argue against its value.
After all, there’s nothing better than sinking a few cold ones in front of the game!
They’re sure to be put to use. Better still, they’ll be super cheap to produce and distribute. That’s good news in terms of ROI.
9. Banner Stands
Banner stands make a perfect B2B promo-item.
Think of the many industry events you attend. From tradeshows to conferences and everything in-between, there’s heaps of them throughout the calendar year, right?
Each time you have a display table to help attract interest and promote your product.
For a basketball-related business, a step and repeat banner stand covered in basketballs would be a mighty help. Pop your logo on the side and you enjoy free advertising in the process.
Try These Basketball Promotional Items!
Basketball promotional items make ideal marketing solutions. If you’re looking to take your basketball-related business to the next level and engage with fans on a whole new level, consider incorporating these promotional items. And don’t forget to offer exclusive giveaways such as NBA finals tickets to create even more excitement and loyalty among your target audience
Hopefully, the suggestions in this post will help you pick the best promo options for your business.
Want to read more articles like this one? Search ‘marketing’ on the website now.
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Not all businesses are alike right down to their ownership structure. This structure forms the basis of all business operations. Structure to a business is what the skeletal system is to us, humans.
A business structure boils down to its ownership arrangement. Most people are not familiar with business ownership types. This is an aspect that many start-ups overlook, and it ends up costing them.
There are many types of business ownership, and not all types suit every business. Choosing the most suitable ownership should be a crucial part of your business plan. Once you do so, you can get your business off on the right foot.
You’ve probably heard of a lot of business ownership disputes. Both large and small companies are disposed of ownership disputes. Understanding the business ownership types will help you avoid such embarrassing scenarios in the future.
In this piece, we’ll expound on the different types of ownership for businesses. That way, you can find what ownership structure best suits your business.
Importance of Business Ownership Structures
Business structure is pretty important, but only if you have the right one in place. The wrong business structure beats the point of having a structure in the first place. That’s why pinning down on the most appropriate business structure is crucial.
Ownership is structured because it provides a framework for handling legal matters. It portrays professionalism and gives potential investors confidence. Certain ownership types open up opportunities for shareholders and stakeholders who will be invaluable to your company.
Common Types of Business Ownership You Could Consider
There are many forms of business ownership types. As a business owner, you have to settle for the right type to engender your businesses’ success.
The following are legally-recognized business ownership structure you should consider for your business:
Sole Proprietorship
This is the most basic type of business ownership. As the name suggests, the business owner owns everything in this type of business ownership.
A sole proprietorship means you have complete control of the entire enterprise. You don’t even have to have a physical enclosure for your business. Plus, you get to keep all the profits, but you also have to deal with all the debt.
Pros
You have complete control of the company and can make all key decisions
Fees and business licenses are inexpensive depending on the state where your business is
You may be liable for tax deductions since you and your business are in practice considered as one
Dissolving the business will be easy without the need for too much formal paperwork
Cons
It will be difficult to hire new employees or scale-up operations
You have to do everything, which could be overwhelming
You also have to deal with all losses, and debt, which may come out your own pocket
Limited Liability Company (LLC)-Manager Managed
A group of members owns the business, and they all share the company’s liability. A managing member handles all business activities.
This business ownership separates your business from personal assets. As such, legal implications will not touch your property or the members’ personal property either.
For instance, if a lawsuit requires you to compensate or pay for something, you won’t have to tap into your personal assets. This ownership type basically considers you and your business as separate entities.
This structure is ideal for people who are big risk-takers but want to protect their stuff if everything goes downhill. However, you still stand to lose a lot if the business fails. That’s why smart LLCs settle for a legal business operating agreement.
Pros
It is not difficult to set up, depending on your state, especially if you hire an attorney or business formation service like Zenbusiness or Legalzoom
The managing member will take care of all operations
Individual members share responsibility which you can change easily
Gives small and medium businesses a professional outlook
Depending on your state, you may qualify for tax deductions
Cons
Will completely crumble if key members exit
Managing members typically have greater liability
You have limited decisive powers if you’re not a managing member
You would share losses even if they were brought about by a single member
Partnership
It’s hard to establish a successful business on your own. That’s why most people settle for partnerships to navigate the convoluted field of business.
Partnerships vary because of the different number of partners and also shared responsibility between partners.
Partnerships mainly boil down to two types. These types are:-
General Partnerships– General partnerships are partnerships mostly between two individuals. Each party shares equal responsibility and liability in the firm.
Limited Partnerships – In these types of partnerships, one person takes charge of the company, while the rest of the partners are only investors.
Pros
Financing and responsibility is shared among members
Flexibility in terms of ownership and responsibility among members
It’s easy to set up the business structure
An investor may invest heavily, for a portion of the ownership
Cons
Trust and co-operation is imperative to a successful partnership
A partnership between two individuals can have many tied votes on crucial matters
Other partners’ actions may put you at debt without any involvement
Might need a formal partnership agreement to avoid any disputes
Corporation Board Member
Corporations are large scale companies. These companies delegate the decision making aspects of the company operations to a board of directors.
This ownership structure is one of the most complex business structures. Understandably so, it engenders the ownership of very large multinational companies.
The board members have a lot of responsibility in managing the company. The board dictates the company’s ultimate mission and also sets targets and goals the company must achieve within a given time.
There are a lot of meetings with corporations. Only high-level professionals or heavy investors qualify to be on the board of directors.
Choose a Business Ownership Type That Suits Your Business
With the many types of business ownership, finding the right one for your business shouldn’t be an issue. However, think critically about the type of ownership you settle for. It will determine many aspects of your business in the times ahead.
Partnerships are good for small and medium-sized businesses. If you’re a very small startup, then you can start off as a sole proprietorship. As the business grows, you can explore other ownership options to adapt to the growth.
For more insightful reads on all matters business, remember to check out our other pieces.
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In the last half-century, the pace of change and the many innovations that have reorganized our behavior in no way compare with the unanticipated situation we now face from the coronavirus pandemic. We simply have no precedent for how to plan for what may come next, or for managing the pace of the upheaval. And yet every day we must act – even making tough choices – without much information about the best direction to take.
Family businesses and wealth are under threat like never before. With family members unable to go to work, it’s hard to imagine how to go back to some sense of normal once we get the “all clear.” That uncertainty and inability to be in command of business operations makes us anxious. And when we’re anxious, we do impulsive and short-sighted things.
In times of crisis, feelings of anxiety and loss cause people to draw inward and focus only on how circumstances directly affect them. That explains the lines at grocery stores and gun shops. Similarly, the individualist model of most businesses ownership is a lone wolf. Rather than seek help, owners make the tough decisions on their own.
But a crisis can also present the opportunity to lead more openly and plan together how to respond. By sharing the specifics of their dilemma, they are more likely to receive help and to also be available to each other.
The owner of a small family business has no idea of what will happen next. He or she must deal with anxiety in family members, employees, customers and suppliers, and the community. What was built over time is suddenly threatened. Rather than deal with these issues alone, the legacy owner is better off using this opportunity to bring others in and develop a shared response.
For example, within resilient family businesses, owners are not just together to make money, but to share values, responsibilities and a commitment to future success. These family businesses are able to act collaboratively.
Family business owners will want to act on these principles when responding to this crisis:
1. Shared family responsibility.
Family members have grown used to the security of the business. Even with its ups and downs, they’ve learned to depend on you. Rather than give false reassurances, it’s time for transparency and open discussion. This is a time to share the challenges regarding fixed costs, debt, obligations and the cost of doing business. A family discussion of what’s actually happening and the difficult choices that need to be made can actually provide more assurance and confidence than empty promises.
Use this opportunity to talk to younger generations in the family about business operations and the trials ahead. Describe what you are doing, and ask for help and ideas. For example, the family might decide to create an austerity plan and talk about how to cut expenses. The family can also discuss its underlying values and how, especially in this time of social hardship, how to look beyond their own self-interest and use their wealth to help others.
2. Transparency with employees.
Local businesses are trying to stay afloat while doing their best to virtually carry out essential services and responsibilities. Many have had to reduce operations, and some have been forced to let staff go. Family business owners need to be open with their employees, transparently communicating information and concerns. They must ensure that everyone across the company, not just employees, shares in the burden. The response must recognize financial reality, but also sustain social capital by respecting all stakeholders.
Collaboration, defining and maintaining underlying values, and ensuring open communication are qualities that will allow family businesses to bounce back after a crisis.
About the Author
Dennis T. Jaffe, Ph.D., a leading architect of the field of family enterprise consulting, is an acclaimed speaker in programs for business families and financial service firms. Dennis leads the 100-Year Family Enterprise Research Program at Wise Counsel Research. He is also Family Business Scholar at the Smith Family Business Program at Cornell University, a faculty advisor at the Ultra High Net Worth Institute, and a regular contributor to Forbes Leadership channel. He was awarded a special commendation for Outstanding Contributor to Wealth Management Thought Leadership by the Family Wealth Report. His new book is Borrowed from Your Grandchildren: The Evolution of 100-Year Family Enterprises (Wiley, 2020). Learn more at dennisjaffe.com.
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What is to come in the future of oil and gas industry? It appears gloomy, as it faces stiff competition and opposition.
Environmental concerns amass and foretell the demise of the fossil giant. Activists and politicians demand the modernization of energy production, supply, and consumption.
Sustainability is the new business benchmark. The clear focus is on reducing greenhouse gas (GHG) emissions and tackling climate change.
In the meantime, alternative sources of energy, such as solar and wind, are surging. In the US, they grew at a rate of 100 percent from 2000 to 2018. Figures there and elsewhere suggest they are the fastest-growing energy option on the globe.
But, the oil and gas sector has a few aces up its sleeve. Digital transformation is one of those trends giving the veteran a new lease of life.
The Green Revolution
Renewable technology is gaining ground left and right.
Public support and private funding are on the path of steady rise. Sustainable technology is getting cheaper as time rolls by. In a few years’ time, it may be on equal footing with gas in terms of competitiveness.
Thus, it’s safe to say disruption is real. In fact, it has already started to reshape the energy landscape.
Optimists argue the trajectory is set: a greener world.
There’s no going back.
However, the road to there will be thorny and there are two main reasons behind this. Renewable energy still isn’t readily available in abundance. It’s also not as scalable as fossil fuels.
This is to say it can’t supplement the energy needs of the world in the near future. For instance, it’s hard to imagine a viable alternative to fossil-fuel-based transportation right now. They will continue to propel global travel and commerce.
Notice that many world nations are heavily dependent on oil revenue as well.
Still Keeping the Lights On
The industry will harness the power of growth catalysts to stay ahead of the curve.
First of all, there are still untapped and undiscovered reserves out there. Developing economies are yet to reach their full appetite for fossil fuels. Rapidly-growing Asian economies need them to support their population and production boom.
Taking this into account, the energy consumption patterns will shift slowly and demand will fall gradually. We’re probably talking about a decline of several percentages in a matter of two decades.
What is more, the adoption of new technologies will facilitate oil and gas operations. They will make exploration, drilling, and other processes quicker and way more efficient. Even offshore drilling hasn’t delivered on its potential yet.
Technology also gives the oil and gas industry a chance to wash its face. It could contribute to climate change goals or at least stop acting as a green boogeyman. For this to happen, we’ll have to see more decisive emission-reduction plans.
The goal is to reduce the emissions by at least 3.4 gigatons of carbon dioxide equivalent and to it by 2050. This is a vital aspiration, but it doesn’t change one fact. The more distant future probably belongs to clean forms of energy.
The New Fossil Order Rises
As we’ve indicated, fossil fuel demand is showing no signs of slowing down.
The real problem is on the other side of the spectrum— supply. Experts predict there will be a severe supply gap in the future. It will be the result of the depletion of existing (known) fields and production.
Of course, it should be said the countries of the world won’t just sit idle. Despite major turbulences (like the one of 2014), OPEC has successfully managed the supply/demand in the past. The organization kept the prices from fluctuating too wildly.
The US is poised to chip away at the influence of these old fossil fuel goliaths. This is largely thanks to its tech-driven “Shale Revolution”, which brought forth a production burst. The geopolitics of fossil oil will look much different.
In other words, fossil fuel-funded countries will lose much of their leverage.
The US also established itself as a major exporter and a leader in liquefied natural gas (LNG). This form of gas is 600 times smaller than the natural gas in its original (gaseous) form. Hence, LNG is bound to revolutionize fuel shipping and storage.
These exciting changes bring us to the next key point.
The Bleeding Edge
We should never underestimate the potential for technological innovation.
Industry leaders will make sure to champion digital transformation and increase upstream capital investments. They will embrace cutting-edge digital platforms and cloud-connected tools. Adoption will take operational efficiency to the next level and across the entire lifecycle.
Companies will have to become more agile, automated, and data-driven in order to survive. Machines will take over many repetitive, tedious, and dangerous tasks. They will render manual processes a relic of the past.
Big data, for example, should work wonders for risk monitoring and prediction. Internet of Things (IoT) sensors and drones will enable remote monitoring of operations. Control of work will optimize management systems and help organizations overcome operational hiccups.
To find out more about this practice promoting safety and mitigating hazards, read on here.
All in all, expect to see software platforms and industrial robots to proliferate. These are the harbingers of the new dawn for the fossil fuel sector. Hopefully, they will make production safer and environmentally-friendly too.
Investors will certainly look to this frontier of innovation to find companies with profit potential. “Business as usual” can’t continue, not with the risks and uncertainties lurking around.
The Future of Oil and Gas Industry is Now
Fossil industries aren’t going to go down, at least not without a fight.
They span the globe and power the modern infrastructure of travel and commerce. The growing popularity of renewable sources is going to take a while to yield radical change.
Besides, there are ways to make oil and gas businesses future-proof. Namely, the word of tomorrow will be digital-first and automated. Countries like the US will spearhead the new wave of technological advancement.
Changes will revamp everything from exploration to filed abandonment Brands will have to become more operationally intelligent or risk going under. They will have to learn to swim in restless water of shifting supply and demand patterns.
So, we can conclude that the near future of oil and gas industry is fairly bright. It’s the long-term horizon that looks a bit bleak.
Check out our treasury of insights to educate yourself some more. Stay in-the-know!
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The Value of Account-Based Marketing for CRM
/in Marketing & Sales/by StrategyDrivenIn this era of information, businesses are searching for advanced solutions to the issues they face. The internet has been both a benefit and a mystery for businesses. Brand leaders and marketers are online continuously trying to figure out the Rubik’s Cube that is online marketing. The problem of doing business on the internet is that it is fairly new as far as platforms are concerned, and everyone is looking to find how they can implement the various outlets online to promote their businesses.
For years, marketers have been following the same protocols to build their client base with mixed results. The days when companies sought to build their customer database by seeking out individuals has resulted in diminishing returns. Companies have begun using the tools that they have traditionally used to market to individuals to market to other companies. Account-based marketing has breathed new life into the marketing strategies of many companies. Along with the power of CRM platforms, ABM has given businesses the opportunity to earn more by doing less.
What is Account-Based Marketing?
With traditional marketing online, the concept was to identify a key demographic that represents the ideal customer or client for their product or service. Account-based marketing is a strategy that focuses squarely on targeted accounts that lead to companies as clients rather than the public.
The ABM strategy uses personalized marketing campaigns that work to build a rapport with the contacts of the desired accounts. For instance, if a business decides that they want to service a national company with their products, they may begin to engage the VP, or other influential people in the company, with marketing emails personalized to speak to their values and needs. This type of strategy is perfectly suited for CRM platforms.
What is CRM?
Customer relation management (CRM) platforms are software applications that are used to compile, engage, and monetize a prospect and customer database. These platforms organize and analyze the data gathered about the current customers and prospective customers for the benefit of building a relationship and marketing special offers.
There are six features of CRM platforms that increase the odds of successful ABM campaigns. These strategies are as follows:
Your Ideal Customer Profile
The first process involved in ABM is creating a profile for your ideal customer. Rather than looking for a specific demographic, you are looking for the types of companies that would likely be interested in your product offering. You need to identify companies that are worthy of your marketing efforts and those that are likely to be a waste of time.
Compile Key Data About Customers
For CRM to work, it must be fed data to categorize and analyze. Whether it is a company that you are seeking to acquire as a client or a business that is currently doing business with, CRM platforms will collect and organize this data to strengthen your personalized campaign for each account. Knowing the purchasing cycles, needs, and contact information for your customers and prospects gives you the insight needed to draft focused marketing transmissions for these accounts.
Identify Profitable Accounts
When data is properly organized, it paints a clear picture and tells a story. CRM software is easily able to identify where the bulk of your business is coming from. It is also able to identify accounts that are underperforming. Account-based marketing campaigns can benefit companies by only focusing on accounts that are performing satisfactorily.
Automate Your Workflow
If you are required to manage a large volume of accounts, the automation of your workflows will ensure that all of your accounts get equal service. Using the automated marketing features in your CRM software, you can automate workflows based on set criteria programmed to trigger specific tasks. An example of this would be an email being sent after a prospect downloads a piece of content. The CRM is triggered by the download to send the personalized email.
Disseminate Social Media Posts Wisely
Social media has become an important factor in business marketing. By knowing the targets that you are looking to attract at the onset of your strategy, you know the type of social content to produce. Many CRM platforms are keen on delivering scheduled social media posts.
Matching Leads to Accounts
Being able to match leads to their accounts is a fundamental part of ABM. Being able to attribute the leads to the appropriate accounts is the only way you can effectively execute the ABM strategy. If you are going to implement an ABM strategy, you will need to make sure your CRM can properly match leads to accounts.
Conclusion
As you can see, the power of CRM will amplify your ABM marketing efforts. Just as there are always early adopters of new technologies, the ABM movement offers a tremendous opportunity to market leaders to increase their profits by looking for whales rather than guppies. Building and maintaining strong relationships with other businesses can create amazing opportunities for your business.
9 Great Ideas for Basketball Promotional Items
/in Marketing & Sales/by StrategyDrivenAfter all, there are over 30 million small businesses operating around the United States. That stacks up to a huge degree of competition.
The result? Standing out from the crowd, cultivating a well-known brand, attracting loyal customers, and driving sales isn’t easy.
Is your basketball-related business seeking ways to boost its image and generate greater returns?
The good news is that a whole host of strategies can be employed to help. But, believe it or not, basketball promotional items are one of the best.
Promo items are nothing new. Eager enterprises have handed used them throughout time to drive results. It’s a classic marketing strategy that flouts the trend toward digital ads and continues to prove effective.
The trick is picking the right items to use. Want some ideas for the best basketball promo items?
Read on for 9 of them!
1. Foam Gloves
Everybody loves foam gloves.
Every sports-mad household in the country needs at least one in their home. How else would you show your support for a favored team at the weekends!?
That’s good news. The best promo items are those that provide value. Foam gloves are fun, entertaining, and are sure to be put to use.
Pop your logo on the front (and back) and you know it’ll get great exposure. Everybody from the person wearing the glove to the other fans in the vicinity will see it. Even better, that gloves might be worn over and over again, spreading your reach over time.
2. Basketball Stress Relievers
Stress relievers are a classic promotional item.
Ask most businesses who employ promo items and they’ve almost certainly used branded stress balls in the past. However, for obvious reasons (i.e. their shape), they make perfect sense for basketball-related businesses.
A mini basketball-shaped stress-reliever is sure to find a place on desks around the country. You can just picture a basketball-mad exec squeezing away after a difficult meeting.
With your logo on the front, they’ll have you to thank for their better mood.
3. Mini-Basketball Hoops
There’s a time and place for generic promo items.
They make a brilliant investment when they provide true value to the end-user. However, sometimes, it’s the fun and unique items that work best.
Let’s face it, everybody’s received a free branded pen in the past. They’re nice, but will never leave a lasting impression.
A mini-basketball hoop, though, is something new altogether.
They make personable, fun-filled giveaway items that people are sure to use. They’ll be put on the backs of doors in bedrooms or offices. People will play with them for hours on end as a happy distraction from tedious times.
4. Mini Branded Basketballs
This one leads on from the last:
A mini basketball hoop needs a mini basketball to use with it!
You could combine this promo item with the last or offer it individually. Either way, you’ve bagged yourself another fun gift that people will get good value from.
Fun promo items have major benefits to business. After all, your audience associates your brand with the fun they’re having! That’s invaluable.
It informs public perception of your product/service and facilitates future custom.
5. Basketball Jerseys
Nobody’s ever going to turn down a branded basketball jersey.
Most people love getting free apparel of any kind. However, if you’re basketball-mad, then a free jersey is a big deal.
They may wear it all the time- to games, practice sessions, and around the house. It’s a valued gift that will endear your business to them. All the while, your brand enjoys newfound exposure and reach as people come into contact with it through the wearer.
6. Basketball Tote Bags
Tote bags are another traditional promotional item.
There’s a good reason for it too: they’re endlessly popular with users!
These bags are another practical product that provides value to the consumer. They’ll be used for months or even years in their day to day life.
Why not put a basketball spin on things? You could design a totes bag that’s shaped like a basketball, for example, or has a picture of one on the sides. However you do it, you’ll have created a fashionable and iconic bag that basketball-lovers will wear with pride.
Pop your logo on the side too and you’re onto a winner.
7. Basketball Keyrings
Almost everything we said about tote bags can be applied to keyrings.
They’re classic promo items. They’re happily accepted as free-gifts by consumers. And they can easily be customized with a basketball design.
The only difference is in practicality. Keyrings aren’t all that useful in and of themselves.
Their real value comes in identity. People sport particular keyrings to let others know something of themselves. Someone who owns a Harley-Davidson might have a Harley keyring. Someone who loves their Porsche might have a Porsche keyring.
And someone who loves basketball might use a basketball keyring!
8. Basketball Bottle Openers
Basketball bottle openers could be cool too.
Imagine a bottle opener shaped like a basketball, with the opening gizmo in the center. It’s a simple item, for sure. But it’s hard to argue against its value.
After all, there’s nothing better than sinking a few cold ones in front of the game!
They’re sure to be put to use. Better still, they’ll be super cheap to produce and distribute. That’s good news in terms of ROI.
9. Banner Stands
Banner stands make a perfect B2B promo-item.
Think of the many industry events you attend. From tradeshows to conferences and everything in-between, there’s heaps of them throughout the calendar year, right?
Each time you have a display table to help attract interest and promote your product.
For a basketball-related business, a step and repeat banner stand covered in basketballs would be a mighty help. Pop your logo on the side and you enjoy free advertising in the process.
Try These Basketball Promotional Items!
Basketball promotional items make ideal marketing solutions. If you’re looking to take your basketball-related business to the next level and engage with fans on a whole new level, consider incorporating these promotional items. And don’t forget to offer exclusive giveaways such as NBA finals tickets to create even more excitement and loyalty among your target audience
Hopefully, the suggestions in this post will help you pick the best promo options for your business.
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All About Structure: Understanding the Various Types of Business Ownership
/in Starting Your Business/by StrategyDrivenA business structure boils down to its ownership arrangement. Most people are not familiar with business ownership types. This is an aspect that many start-ups overlook, and it ends up costing them.
There are many types of business ownership, and not all types suit every business. Choosing the most suitable ownership should be a crucial part of your business plan. Once you do so, you can get your business off on the right foot.
You’ve probably heard of a lot of business ownership disputes. Both large and small companies are disposed of ownership disputes. Understanding the business ownership types will help you avoid such embarrassing scenarios in the future.
In this piece, we’ll expound on the different types of ownership for businesses. That way, you can find what ownership structure best suits your business.
Importance of Business Ownership Structures
Business structure is pretty important, but only if you have the right one in place. The wrong business structure beats the point of having a structure in the first place. That’s why pinning down on the most appropriate business structure is crucial.
Ownership is structured because it provides a framework for handling legal matters. It portrays professionalism and gives potential investors confidence. Certain ownership types open up opportunities for shareholders and stakeholders who will be invaluable to your company.
Common Types of Business Ownership You Could Consider
There are many forms of business ownership types. As a business owner, you have to settle for the right type to engender your businesses’ success.
The following are legally-recognized business ownership structure you should consider for your business:
Sole Proprietorship
This is the most basic type of business ownership. As the name suggests, the business owner owns everything in this type of business ownership.
A sole proprietorship means you have complete control of the entire enterprise. You don’t even have to have a physical enclosure for your business. Plus, you get to keep all the profits, but you also have to deal with all the debt.
Pros
Cons
Limited Liability Company (LLC)-Manager Managed
A group of members owns the business, and they all share the company’s liability. A managing member handles all business activities.
This business ownership separates your business from personal assets. As such, legal implications will not touch your property or the members’ personal property either.
For instance, if a lawsuit requires you to compensate or pay for something, you won’t have to tap into your personal assets. This ownership type basically considers you and your business as separate entities.
This structure is ideal for people who are big risk-takers but want to protect their stuff if everything goes downhill. However, you still stand to lose a lot if the business fails. That’s why smart LLCs settle for a legal business operating agreement.
Pros
Cons
Partnership
It’s hard to establish a successful business on your own. That’s why most people settle for partnerships to navigate the convoluted field of business.
Partnerships vary because of the different number of partners and also shared responsibility between partners.
Partnerships mainly boil down to two types. These types are:-
General Partnerships– General partnerships are partnerships mostly between two individuals. Each party shares equal responsibility and liability in the firm.
Limited Partnerships – In these types of partnerships, one person takes charge of the company, while the rest of the partners are only investors.
Pros
Cons
Corporation Board Member
Corporations are large scale companies. These companies delegate the decision making aspects of the company operations to a board of directors.
This ownership structure is one of the most complex business structures. Understandably so, it engenders the ownership of very large multinational companies.
The board members have a lot of responsibility in managing the company. The board dictates the company’s ultimate mission and also sets targets and goals the company must achieve within a given time.
There are a lot of meetings with corporations. Only high-level professionals or heavy investors qualify to be on the board of directors.
Choose a Business Ownership Type That Suits Your Business
With the many types of business ownership, finding the right one for your business shouldn’t be an issue. However, think critically about the type of ownership you settle for. It will determine many aspects of your business in the times ahead.
Partnerships are good for small and medium-sized businesses. If you’re a very small startup, then you can start off as a sole proprietorship. As the business grows, you can explore other ownership options to adapt to the growth.
For more insightful reads on all matters business, remember to check out our other pieces.
During this Crisis, Don’t Expect Business as Usual from the Family Enterprise
/in Entrepreneurship/by Dennis T. Jaffe, Ph.D.Family businesses and wealth are under threat like never before. With family members unable to go to work, it’s hard to imagine how to go back to some sense of normal once we get the “all clear.” That uncertainty and inability to be in command of business operations makes us anxious. And when we’re anxious, we do impulsive and short-sighted things.
In times of crisis, feelings of anxiety and loss cause people to draw inward and focus only on how circumstances directly affect them. That explains the lines at grocery stores and gun shops. Similarly, the individualist model of most businesses ownership is a lone wolf. Rather than seek help, owners make the tough decisions on their own.
But a crisis can also present the opportunity to lead more openly and plan together how to respond. By sharing the specifics of their dilemma, they are more likely to receive help and to also be available to each other.
The owner of a small family business has no idea of what will happen next. He or she must deal with anxiety in family members, employees, customers and suppliers, and the community. What was built over time is suddenly threatened. Rather than deal with these issues alone, the legacy owner is better off using this opportunity to bring others in and develop a shared response.
For example, within resilient family businesses, owners are not just together to make money, but to share values, responsibilities and a commitment to future success. These family businesses are able to act collaboratively.
Family business owners will want to act on these principles when responding to this crisis:
1. Shared family responsibility.
Family members have grown used to the security of the business. Even with its ups and downs, they’ve learned to depend on you. Rather than give false reassurances, it’s time for transparency and open discussion. This is a time to share the challenges regarding fixed costs, debt, obligations and the cost of doing business. A family discussion of what’s actually happening and the difficult choices that need to be made can actually provide more assurance and confidence than empty promises.
Use this opportunity to talk to younger generations in the family about business operations and the trials ahead. Describe what you are doing, and ask for help and ideas. For example, the family might decide to create an austerity plan and talk about how to cut expenses. The family can also discuss its underlying values and how, especially in this time of social hardship, how to look beyond their own self-interest and use their wealth to help others.
2. Transparency with employees.
Local businesses are trying to stay afloat while doing their best to virtually carry out essential services and responsibilities. Many have had to reduce operations, and some have been forced to let staff go. Family business owners need to be open with their employees, transparently communicating information and concerns. They must ensure that everyone across the company, not just employees, shares in the burden. The response must recognize financial reality, but also sustain social capital by respecting all stakeholders.
Collaboration, defining and maintaining underlying values, and ensuring open communication are qualities that will allow family businesses to bounce back after a crisis.
About the Author
Taking a Look at the Future of Oil and Gas Industry
/in StrategyDriven Editorial Perspective/by StrategyDrivenEnvironmental concerns amass and foretell the demise of the fossil giant. Activists and politicians demand the modernization of energy production, supply, and consumption.
Sustainability is the new business benchmark. The clear focus is on reducing greenhouse gas (GHG) emissions and tackling climate change.
In the meantime, alternative sources of energy, such as solar and wind, are surging. In the US, they grew at a rate of 100 percent from 2000 to 2018. Figures there and elsewhere suggest they are the fastest-growing energy option on the globe.
But, the oil and gas sector has a few aces up its sleeve. Digital transformation is one of those trends giving the veteran a new lease of life.
The Green Revolution
Renewable technology is gaining ground left and right.
Public support and private funding are on the path of steady rise. Sustainable technology is getting cheaper as time rolls by. In a few years’ time, it may be on equal footing with gas in terms of competitiveness.
Thus, it’s safe to say disruption is real. In fact, it has already started to reshape the energy landscape.
Optimists argue the trajectory is set: a greener world.
There’s no going back.
However, the road to there will be thorny and there are two main reasons behind this. Renewable energy still isn’t readily available in abundance. It’s also not as scalable as fossil fuels.
This is to say it can’t supplement the energy needs of the world in the near future. For instance, it’s hard to imagine a viable alternative to fossil-fuel-based transportation right now. They will continue to propel global travel and commerce.
Notice that many world nations are heavily dependent on oil revenue as well.
Still Keeping the Lights On
The industry will harness the power of growth catalysts to stay ahead of the curve.
First of all, there are still untapped and undiscovered reserves out there. Developing economies are yet to reach their full appetite for fossil fuels. Rapidly-growing Asian economies need them to support their population and production boom.
Taking this into account, the energy consumption patterns will shift slowly and demand will fall gradually. We’re probably talking about a decline of several percentages in a matter of two decades.
What is more, the adoption of new technologies will facilitate oil and gas operations. They will make exploration, drilling, and other processes quicker and way more efficient. Even offshore drilling hasn’t delivered on its potential yet.
Technology also gives the oil and gas industry a chance to wash its face. It could contribute to climate change goals or at least stop acting as a green boogeyman. For this to happen, we’ll have to see more decisive emission-reduction plans.
The goal is to reduce the emissions by at least 3.4 gigatons of carbon dioxide equivalent and to it by 2050. This is a vital aspiration, but it doesn’t change one fact. The more distant future probably belongs to clean forms of energy.
The New Fossil Order Rises
As we’ve indicated, fossil fuel demand is showing no signs of slowing down.
The real problem is on the other side of the spectrum— supply. Experts predict there will be a severe supply gap in the future. It will be the result of the depletion of existing (known) fields and production.
Of course, it should be said the countries of the world won’t just sit idle. Despite major turbulences (like the one of 2014), OPEC has successfully managed the supply/demand in the past. The organization kept the prices from fluctuating too wildly.
The US is poised to chip away at the influence of these old fossil fuel goliaths. This is largely thanks to its tech-driven “Shale Revolution”, which brought forth a production burst. The geopolitics of fossil oil will look much different.
In other words, fossil fuel-funded countries will lose much of their leverage.
The US also established itself as a major exporter and a leader in liquefied natural gas (LNG). This form of gas is 600 times smaller than the natural gas in its original (gaseous) form. Hence, LNG is bound to revolutionize fuel shipping and storage.
These exciting changes bring us to the next key point.
The Bleeding Edge
We should never underestimate the potential for technological innovation.
Industry leaders will make sure to champion digital transformation and increase upstream capital investments. They will embrace cutting-edge digital platforms and cloud-connected tools. Adoption will take operational efficiency to the next level and across the entire lifecycle.
Companies will have to become more agile, automated, and data-driven in order to survive. Machines will take over many repetitive, tedious, and dangerous tasks. They will render manual processes a relic of the past.
Big data, for example, should work wonders for risk monitoring and prediction. Internet of Things (IoT) sensors and drones will enable remote monitoring of operations. Control of work will optimize management systems and help organizations overcome operational hiccups.
To find out more about this practice promoting safety and mitigating hazards, read on here.
All in all, expect to see software platforms and industrial robots to proliferate. These are the harbingers of the new dawn for the fossil fuel sector. Hopefully, they will make production safer and environmentally-friendly too.
Investors will certainly look to this frontier of innovation to find companies with profit potential. “Business as usual” can’t continue, not with the risks and uncertainties lurking around.
The Future of Oil and Gas Industry is Now
Fossil industries aren’t going to go down, at least not without a fight.
They span the globe and power the modern infrastructure of travel and commerce. The growing popularity of renewable sources is going to take a while to yield radical change.
Besides, there are ways to make oil and gas businesses future-proof. Namely, the word of tomorrow will be digital-first and automated. Countries like the US will spearhead the new wave of technological advancement.
Changes will revamp everything from exploration to filed abandonment Brands will have to become more operationally intelligent or risk going under. They will have to learn to swim in restless water of shifting supply and demand patterns.
So, we can conclude that the near future of oil and gas industry is fairly bright. It’s the long-term horizon that looks a bit bleak.
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