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Getting A New Product Out To Market

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StrategyDriven Marketing and Sales Article |Product to Market|Getting A New Product Out To MarketOne of the things that pretty much every business will have to do is to create a product and then sell it. When you are looking at doing this for the first time, however, there are a lot of things that you are going to have to bear in mind, and it can be quite challenging to make sure that you get it right. The fact is, however, that creating a product and selling it well is always going to be a major part of ensuring that your business succeeds, so knowing more about this is going to be really helpful.

In this post, we are going to discuss every major step on the journey of getting a new product out there into the world. As long as you are aware of all of the following essentials, you should be in a much better position to succeed and you’ll find that your product is going to be a lot more successful as well, along with your business as a whole.

Ideation

The first step is obviously going to be just coming up with the idea for the product, so that you can then begin to develop some ideas around what that product should be and how it is going to get to the marketplace in the best way possible. Ideation is the word that is often given to this process, and it’s something that you are going to want to put your all into if you are going to find success with this. Of course, there are a few things that you might need to bear in mind along the way to make sure that this part of the process goes to plan.

First of all, it’s important that you are working within a niche, but allowing yourself to have some creativity within that. If you can do it this way, that is going to be the right kind of balance between having a product that makes sense and works and not, and that is clearly a really important thing to bear in mind here. You should also make sure that you are allowing for as many free-flowing ideas as you can if you want to have a chance of your product being successful.

At some point, of course, you are going to need to draw it in a little, and start to decide on what you are actually going to do. The main thing is that you and your teams can be really excited about the prospect of the product, whatever it might be, and that you are happy to ensure that you are going to work with it in the long term. If you can get to that place, this is really all that matters, and a great sign that you are generally going to get a lot out of the whole process and situation.

So work on the ideation as best as you can in order to ensure that your business has the best chance of success.

Research

Alongside this but also before and after it, you are going to need to think about market research. This is one of those areas that we all know is important, but not all of us are aware of exactly why or what the best way to approach it might be. A good decent amount of research is always going to be important if you are keen to make sure that you are improving your product, and it will help to give you plenty of ideas of the best way to proceed. Good research can be the difference between success and failure here.

There are a few major aims that you might hope to achieve when it comes to doing this. For one thing, you might find that you are going to be able to figure out what people think about your product idea, which is obviously really centrally important to the whole project, and the kind of thing that you are definitely going to want to be aware of. Through research you can also discover ideas for improvements, what kinds of problems people are hoping to be solved, and so much else. You can probably see why it’s so important that you have a decent and rigorous approach to your research procedure.

The main thing to remember during research phases is to try and get to the bottom of whatever you are trying to find out as objectively as possible. In other words, don’t just court the information that you want to hear, but make sure that you are actually getting the truth out of people. This is going to serve you so much more effectively, and you will be really glad that you took this approach above all else. Then you are going to be a lot more likely to have a product that works for you and your customers.


Prototype

After you have done all that, you are going to be in a position to start thinking about your prototype, and that is something that you will absolutely need to do in the right way if you are going to ensure that you are getting as much out of it as possible. A prototype should be as close to the real thing as possible, and it should be the kind of thing where you are going to feel as if it is the finished product itself. Of course, the main point of it however is that it shows you what might go wrong with the product, so that you can fix that before actually putting it in customers’ hands.

When you have your prototype, and you are putting it into testing, it’s vital that you test it rigorously as best as you can. That’s going to help you a great deal when it comes to ensuring that you are having the best chance of success with your product, and it’s the only way you are going to keep the customer well and truly happy. So that is something that you should definitely always be aware of here.

Bear in mind too that you might well need to have more than one prototype version before you get anywhere near being able to put the product on the market. So you should know that the process can be long and hard and take a long time. As long as you are prepared for that, however, you are more likely to succeed with it, so that’s something that you can bear in mind here.

Finished Product

Finally after all that, you are going to have the finished product on your hands. Now it is time to start thinking about how you are going to get it out into the world. This is a really exciting place to be, and you are going to want to think about the best way to do it for yourself and your business, as well as your customers themselves too. A big part of all this is the packaging and shipping of the product, which can be an entry logistical nightmare in itself.

The easiest approach to take to that is to get some outside help with it. Some of the best packing and shipping franchise opportunities are going to be a huge help for getting your product out there into the world in the right way, so that is something that you should definitely think about, and which will help you a great deal. It’s also likely that you are going to sell more items, because you are simply putting it into more hands, and that’s obviously a major part of all this too.

The logistics behind this are important to get right, and you might find that they take some fine tuning over time. But as long as you work at it, it’s going to mean you are more likely to find success with your product.

Marketing

Of course, the main thing that will dictate how many people buy your product at first is the marketing that you put towards it, and this is something that you are going to want to think about for sure if you are keen to make it work as well as you would hope. The better the marketing is, the more likely it is that people are going to actually buy your product, and you’ll find that you are going to struggle to sell them if you don’t do this at all.

The way you market is important, and you’ll need to consider branding along with so many other things. All in all, it’s vital that you are going to have some kind of process for figuring out your marketing. As long as you do that, you are going to find success with it a lot more easily, and you’ll be able to get your product out to market in the best possible way.

All in all, that is the way to find success if you are producing a new product for people to buy and see.

How to Find Your Business’ Target Audience

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StrategyDriven Marketing and Sales Article |Target Audience|How to Find Your Business’ Target AudienceGrowing a business can be one of the most rewarding and challenging things a person can do. Between picking what industry your business will focus on, getting the funding to start, and making that first sale, there’s a lot that goes into becoming a successful business owner.

One of the most complex parts of running a business is pinning down who your target audience is. While it would be ideal for every person who walks into your business to make a purchase, that situation is more often fiction than reality. That’s why most successful companies target a select group of people they believe to be their most likely and regular customers.

To turn your business from a few regular customers to a massive following, finding your target audience is essential. In this article, we’ll discuss some of the most effective ways to identify and cater to your target audience so you can get more people in the door, and more green in your pocket.

Analyze Your Current Customer Base

Before you can expand to a larger audience, it’s important to first analyze the one you have now. By ascertaining why your current customers spend their money with you, you can better demonstrate your value to prospective customers.

Many businesses use a survey or reviews for this analysis, as they allow customers to provide honest opinions on your services. Even if all of your feedback isn’t positive, you can use it to make adjustments and improve your current business model.


Conduct Market Research

Every business is trying to fill a need that others can’t. Whether it’s a clothing company or a sports equipment manufacturer, getting an edge in a specific market is the goal of every business owner.

One way you can get an edge in your industry is by conducting market research and finding where there are holes in service. By filling those holes, you’ll be able to demonstrate a unique service that people can’t find anywhere else, targeting an audience that was previously without options.

Use Analytics Tools

If your business has an online presence, analytics tools are your best avenue for finding your target audience. Platforms like Google and Facebook contain in-depth breakdowns of who your company is reaching, what areas of the world they live in, when they usually make purchases, and much more.

This information can be used to tailor your entire brand around your target audience, giving you more opportunities to grab their attention and get that sale. It can also help you avoid targeting the wrong audience, as you’ll know who’s least likely to purchase your services and can reposition your marketing accordingly.

Engage with Your Audience

One of the key drivers of any lucrative business is engagement. Whether it’s with email campaigns or special in-person events, putting a face and voice to your company will help it feel like more than a soulless website or brick-and-mortar store. The more involvement your customers feel they have with your business, the more attached they’ll become. With that attachment comes loyalty, and with that loyalty comes a target audience that thinks of your business before anything else.

About the Author

StrategyDriven Expert Contributor |Veronica BaxterRoni Davis is a writer, blogger, and legal assistant operating out of the greater Philadelphia area. She writes for Mosser Legal, a criminal appeals lawyer in Philadelphia.

The Ins and Outs of Doing Business with International Clients

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StrategyDriven Marketing and Sales Article |International Clients|The Ins and Outs of Doing Business with International ClientsThe businesses that thrive in today’s economy are the ones that think globally from day one. Even if your company is just getting off the ground, it’s important to consider potential international clients early on in the process. After all, the world is becoming a smaller place every day, and businesses that aren’t prepared for this new reality will struggle to keep pace. If you already operate a business with domestic clients or intend to begin your business journey by focusing primarily on local consumers, now is the time to begin strategizing about how and when you might expand your reach internationally.

The world is full of opportunities for ambitious businesses willing to take risks, and operating as an export-driven company can help you grow exponentially faster than staying put. Doing business with international clients may initially seem challenging, but it can also be a rewarding experience if approached strategically. Keep reading to understand the ins and outs of doing business with international clients.

Conduct Market Research

Before diving headfirst into international business development, it’s a smart move to conduct some market research. Specifically, you’ll want to take a close look at the countries your company is likely to target and the strengths and weaknesses of your brand in those regions. It’s also a good idea to take a look at your competitors in the international market to see who stands out. By understanding the climate of the industry and the unique characteristics of customers in the areas you plan to target, you can more effectively create marketing strategies tailored to their needs.

Explore Your Existing Network

You may be able to find international clients through your existing network of contacts and connections. This can be a very cost-effective way to conduct business internationally, but you may need to partner with a third-party logistics company to handle the shipping and logistics side of things. That said, don’t overlook the value of forming partnerships with other businesses in your industry. This can give you an opportunity to expand your reach by collaborating with another company and exchanging goods or services with them. You can also consider forming partnerships with businesses in other countries that are conducting business in your industry. This can open up a lot of new opportunities, and you may even discover partners that can help you expand your business in the long term.

Adjusting The Way You Communicate

Communicating with your international clients is an important part of doing business with them, but it’s important to adjust the way you communicate. Keep in mind that different regions have different customs. The best way to handle this is to start out by asking your clients how they prefer to be communicated with. Once you’ve found the right approach for international clients, stick to it. It’s important to be consistent in the way you communicate. This way, your international customers won’t feel like they’re getting a different message each time they receive correspondence from you.

Invest In A Certified Translator

Even if you only plan to do business with one country, it’s a good idea to invest in a certified translator. This person will be able to accurately and appropriately communicate with your clients in their native language. Depending on the language, you may have to hire someone who is both a translator and a linguist. While it’s possible to use Google Translate or another free translation app, relying on these tools can often lead to inaccuracies and misunderstandings due to mistranslations, which may lead to unsatisfied customers and lost revenue. Having a certified translator can save you a lot of time and trouble.

Make Your Website Friendly For A Global Audience

Another important step in preparing to do business with international clients is making your website friendly for a global audience. One of the best ways to do this is to use clear, concise language that avoids jargon and contains no grammatical errors. In some cases, you may even want to avoid using acronyms or words that may have different meanings in other countries. For the best results, hire a professional copywriter and certified translator to help create your website content.


Find Common Ground

Understanding your international clients is critical to success, but it’s also important to find common ground with them in order to build strong relationships. To do this, you may want to focus on your client’s interests and passions. Doing so can help you find ways to connect with your clients on a personal level and create long-lasting business relationships.

Pay Attention To Cultural Details

Once you’ve begun communicating with your clients and are getting to know them better, it’s important to pay attention to cultural details. For example, some cultures are more direct than others, so it’s important to work within the parameters of your client’s preferences. Doing so can help you avoid overwhelming your clients and help them feel comfortable doing business with you.

Be Mindful Of Potential Misunderstandings

Misunderstandings are common when doing business with international clients, especially for businesses that are just starting to export. If there is something you don’t understand about your customers or their needs, it’s important that you ask questions so you can better understand them. You should also be sure to communicate as clearly as possible so that you don’t accidentally offend your customers.

Accommodate Time Differences

Finally, you should be aware of time differences when conducting business with international clients. This can help you avoid scheduling meetings at inopportune times. You may also want to consider hiring a virtual assistant who can help you stay on top of your scheduling and who can help you stay organized. This can make it easier to manage time zone differences and can also help you reduce the amount of time you spend on scheduling and administrative tasks.

Final Thoughts

The world is growing increasingly interconnected every day. It’s important to prepare your small business for this new reality by considering potential international clients early on in the process. While doing business internationally may seem challenging, it can also be a rewarding experience if you approach it strategically. Keep the tips outlined above in mind to help make the transition smoother for your business.

How to Create a Focused Marketing Campaign

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StrategyDriven Marketing and Sales Article |Marketing Campaign|How to Create a Focused Marketing CampaignYour marketing campaign is vital to the continued success of your business. Every business must be able to come up with an effective marketing plan to reach potential customers. Customers mean profit, and profit means a healthy cash flow that can support your business and allow it to grow and develop.

A marketing plan allows you to focus your strategy and maximize its performance. Otherwise, it’s easy for your marketing efforts to get lost and drown when compared to more effective campaigns. Here are some tips to help you to create a focused campaign.

Know Your Audience

The first and possibly most important part of developing a marketing campaign is to know who the target audience is. While it might be tempting to try to reach every potential customer out there, this can easily result in failure.

By muddying the waters in this way, you ensure that your company doesn’t stand out when compared to other, more tightly focused campaigns. Yes, you might reach more people, but they will be less interested in a general advertisement than something that is designed to specifically appeal to them.

The only way to make sure that your marketing campaign is geared towards a specific audience is to know who that audience is. Part of this should come into play when designing your brand and product. Some products naturally appeal more to some customers than others, and you should know which ones.

This is where market research comes into play. Market research allows you to interview your most likely customers and ask them what appeals to them. You can do this directly by conducting surveys, but you can also use other research methods such as data collation and analytics to figure out what kind of customer you should be targeting


Existing Customers

When coming up with a marketing plan, it would be a mistake to neglect your existing customers. Turning a one-time purchase into a repeat customer who is loyal to your brand creates a level of stability that companies desperately need.

The good news is that it’s often easier and cheaper to market to your existing customers. You’ve already won them over once and, as long as your product is good, it isn’t too difficult to encourage them to return. Sometimes it’s just a matter of reminding customers that you’re still around.

Most customers are willing to provide their email address or postal address when making a purchase. This allows you to reach them. However, it’s important to give them a reason to return. Marketing spam irritates customers and may discourage them from coming back, but providing offers is another matter entirely.

Digital Marketing

Every marketing strategy should integrate digital marketing, as it’s proven to be one of the most effective ways to reach customers. Marketing gurus like Joey Armstrong can provide detailed advice on how to keep up with the trends and to use digital marketing tools more effectively. Used well, this new avenue of marketing can breathe new life into your business.

How to Open a Food Truck in 5 Steps

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StrategyDriven Starting Your Business Article |Open a food truck|How to Open a Food Truck in 6 StepsHave you ever dreamed of serving up street food right out of your very own food truck?

If you’ve been following trends in the food industry, you probably already know that the initial outlay of opening a food truck is much, much lower than opening a restaurant.

And there’s even more good news: people love the concept. In fact, the food truck trend is sweeping across the globe… and it’s not going away any time soon.

If you’re giving this business model some serious consideration, there are six steps you’ll need to follow to make your dream a success.

Step 1: Conduct Market Research

Before you do anything, you’ll need to conduct some market research. If there is a demand for food trucks in your area, you’ll need to do some research by looking at your competitors, what they are offering, and see how you can differentiate yourself with your concept.

Look into how you can incorporate your theme and concept into your packaging, too – you’ll need to customize it with your logo. To save on costs, you should buy disposable containers and cups wholesale.

You’ll also need to determine what demographic you’ll be serving, where you’ll be able to park to sell your food, and when the busiest times for business will be.

Step 2: Decide on a Concept

To be successful in the food industry, you’ll need to find the perfect balance between cooking within a concept you are passionate about and catering to the tastes of your demographic.

Once you’ve come up with a concept for your food truck, choose a name and logo for your company – and make sure they are unique, memorable, and reflect your brand accurately.

An exciting concept paired with an attention-grabbing logo and name can make all the difference when it comes to attracting customers, so give these a lot of thought.

Step 3: Create a Business Plan

When you have decided on a concept, you’ll need to create a business plan. Writing a business plan is an essential step and will help you plan and iron out any wrinkles in your business model.

In your business plan, you should go into as much detail as you can because it is also an important document for attracting investors.

If you’re not sure how to write a business plan, there are many online resources and templates available to help you out.

Step 4: Get Licenses and Permits

Before you go ahead and launch your business, you’ll need to check your state laws to find out what permits and licenses you’ll need to operate. These laws vary from state to state, so be sure to check with your local jurisdiction.

You’ll also need to check zoning and parking permits for your food truck, and don’t forget to register your truck with your local DMV.

Step 5: Purchase a Food Truck

Now that you’ve dealt with most of the logistics, it’s time for the most exciting part: buying or renting your food truck.
Your food truck is where most of your startup capital will go, and you have two options – you can purchase a new or used truck, or you can lease one. Just be sure to choose a reputable truck dealer.

Most food trucks will come fully equipped, but you’ll still need to purchase supplies and containers so that you can serve your customers.

You’ll also need to customize your food truck with your branding and buy insurance to protect yourself from liability, damages, or loss.