Category: Digital Consultancy & Business (EN)

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What is MVP in Product Management?

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What is MVP in Product Management?

  • Tags Minimum Viable Product (MVP), MVP in Product Management

The Concept of Minimum Viable Product (MVP)

MVP is a version of the product that has enough features to be used by early customers, who will be able to give you feedback for future product development. Focusing on MVP can help you to avoid unnecessary work, and be more focused on improving your products based on customers’ feedback.

MVP can help you determine what’s the demand for your product and generally how your idea will be welcomed on the market. Before putting too many resources into your work, you can use this solution to evaluate how much success your product can bring you.

The Purpose of Minimum Viable Product (MVP)

MVP can serve lots of purposes for your company. Your product team would need to use it when they plan to release the product on the market as quickly as possible. Also, when they want to test the product to get real feedback from customers and to understand generally what your target audience is thinking about it. After that you can decide how much you’ll invest in your product development process and what steps will you take next.

MVP in Product Management

MVP and product management have a very special connection. MVP is a solution that is cost-effective for you and gives you the possibility to see the bigger picture when it comes to your product.

Because of so many aspects that it can help you with, proper MVP product management is very important. In order to take successful steps, you need to focus on a couple of important topics.

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Start with Market Research

Before you start working on MVP you need to know more about the market. This information will help you to define important aspects of the product and will lead you to better decisions and results.

You can do the surveys to get as much information as possible. Also check the competitors, and what they offer to customers and determine how your product ideas can stand out.

Define Your Target Audience

Understand who could be interested in your product. Also, determine what needs and requirements would your product be fulfilling, and what is your product’s true value and purpose.

For example, if you want to create an app for fitness enthusiasts or veterinary technicians you need to consider what they really want from you and from your app. Also, how they want their data to be tracked, or what are they most interested in. You need to have answers from your audience to take the next steps.

Listen to Your Users

You shouldn’t guess what’s the need of your customer, in this case, they can tell you directly what they really think. Get feedback about specific aspects of products, they might even give you new ideas about how to improve the product. Compare different options, like different designs or features to determine which option seems to garner more attention from your customers.

It might seem early for you but try to work a bit regarding value proposition as well during this whole process. You’ll need it to show your customers why they need to choose your product.

Start with the MVP Roadmap

In order to reduce risks and make the whole process less chaotic, you’ll need to plan everything. Create a plan where you’ll have a detailed description of what you want to achieve with MVP. Create a detailed product roadmap that will have all the necessary aspects that are related to your goals.

Keep the Focus

Creating a product that will be perfect is something that most companies would be interested in. But it’s important to not lose focus and be concentrated on aspects that need more time and resources. The main thing has to stay the main thing, it’s a crucial part.

In this case, your goal shouldn’t be to create perfection. You need feedback and testing of your assumptions in order to improve your product. Just find the most important aspect and focus on it.

Brainstorm to Find the Best Solutions

Brainstorm to find the best solutions. Every product needs specific ways to improve, so it’s essential to have a better understanding of its unique features. Be flexible and learn from your mistakes. Try to find solutions that will help you to improve your product according to market needs and your future goals.

Acknowledge the Power of Product Design

Most of the time MVPs are very minimalistic, but it doesn’t mean that you should put less effort into the design. You can improve it in the future but still, the first impression decides a lot. You need an MVP which will be seen as something great for your customers.

You need to know what are the most important details, from a user and business perspective as well, in order to understand what kind of design would be most suitable in certain cases. Well-designed products are more competitive on the market and have better chances of success.

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How to do a Competitive Market Analysis?

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How to do a Competitive Market Analysis?

  • Tags Competitive Market Analysis

Importance of a Competitive Market Analysis

Conducting competitive market analysis helps you to understand more about your major competitors, like what are their products, how successfully they sell, and what are their marketing tactics.

You’ll have a chance to ward off your competitors and implement stronger business strategies. You’ll know more details about your environment and how you can become the leading company in your industry.

Benefits of Competitive Market Analysis

There are several factors that you should know about. Keep in mind that Competitive Market Analysis can help you identify your products’ unique features and value. You’ll understand what your competitors are doing right and where they are wrong.

Also, you’ll learn through customers what certain products are missing which will generally help you to improve your business and measure your success better.

Determine Your Competitors

First of all, you have to know who are your competitors and gather accurate data about them. No matter how similar some businesses are, using certain strategies the same way isn’t beneficial for everybody.

You can “divide” your competitors into two groups, like “direct” and “indirect”. Indirect competitors will have similar products to yours and will be in the same geographical area, while indirect competitors will have products that satisfy the same customer needs as your products.

For example, Adidas and Oxford are in the same industry but their style is totally different, so you have to determine links between different companies, see the unique aspects of brands and determine what kind of competitors they are and how can you overcome them.

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Determine the Products of Your Competitors

Products and services are the core of any business, so you have to know more details about them. Try to determine their pricing strategy, find out if they are working on volume sales or one-off purchases, and what is their market share.

Knowing the target audience is very important. In this case, you have to determine what kind of target audience they have, and what are their customers’ needs and requirements. It’s interesting to know how they compare themselves to competitors, why they think that they are different, and how they showcase those traits. Also, check how they distribute their products or services.

Research Your Competitors’ Sales Tactics

You need to know more about your competitors’ sales tactics and what kind of results they have. It’s a little bit tricky task but you need to ask the right questions to get the right and useful answers.

See what their sales process looks like, and what channels they use for it. They might be operating from numerous locations, check these kinds of aspects as well, and evaluate their growth. You could use their success stories to strengthen your strategies, but you need to know about their losses as well.

Check Any Additional Tactics They Are Using

Check your competitor’s prices, and what they offer to their customers. They might be doing discounts frequently, or using giveaways. Determine why they have specific prices. For example, if your product has better quality or better features you can sell it at a higher price, but you have to explain to people why.

Understand why customers are interested in you and in your competitors. Sometimes some customers might stay with you, then with your competitors, and vice versa. You need to understand more about specific reasons. Also, they might be more active on social media platforms, have more visibility for a wider audience, might have used viral marketing, etc.

Competitive Shipping Costs

While conducting a competitive market analysis look through shipping costs as well. Most of the customers aren’t happy with the expensive shipping costs. Nowadays, customers are happier when they don’t have to pay money for that at all and often prefer to deal with brands that have free shipping.

If most of the competitors have free shipping think about that option, at least try to not have too much shipping price. Also, if you don’t feel comfortable with free shipping, try to find different solutions, like holiday discounts or giveaways on social media platforms.

Analyze How Your Competitors Market Products

In order to understand more about their marketing strategies, see if they have a blog or any e-books. They might be offering customers videos or webinars as well. See if they have an FAQ section and what kind of visual content they have. Also, check if they have case studies and generally what online and offline advertising campaigns they have.

Check Your Competitors’ Content Strategy

In order to understand more, check how frequently they are posting their blogs, you can do the same with e-books as well, it depends on what you’ll understand after you’ll analyze how your competitors market their products.

Check the quality of their content and generally how accurate it is. See if their content is free and available for everybody, understand who is writing the content, and generally if it’s interesting and how much in-depth it really is.

Understand What Technologies Your Competitors Use

Understand more about technologies that are used by your competitors. It could help you to become more productive as well. Like numerous companies are using digital solutions right now in order to improve themselves and their services, so it wouldn’t be a surprise to understand that, for example, a company that is well-known for excellent customer service, is interested in the customer service software.

Observe How They Promote Their Marketing Content

Check the content again and see approximately how many keywords are used by your competitors, and how many internal links are they using. They might be using certain keywords which are successful for them but you haven’t used them yet.

Check which social media platforms are frequently used by their customers, what content of theirs is most liked by the target audience and generally look at more details of their accounts, like the number of followers, frequency of posting, etc.

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How to do a Market Analysis for a Business Plan?

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How to do a Market Analysis for a Business Plan?

  • Tags Business Plan, Market Analysis

Importance of a Business Plan

A business plan is a crucial part of growing and developing your business. First of all, it gives you direction, it guides you through every necessary step that you have to take. It’s your tool, your map that can take you to the most favorable destination for your company.

It can help you to reach your business milestones, and help you determine the most important aspects of your company which will always aid you with the decision-making process. Your business plans must meet your needs. How you’ll write or create them is up to you, you just have to make sure that it will work for you.

What You Can Understand from Market Analysis?

Good market analysis will clarify several important aspects for you, which will in turn help you to devise a better business plan. First of all, you’ll be able to minimize investment risks, you’ll be able to identify more opportunities and risks, you’ll be able to understand more about your competitors as well, you’ll spot emerging trends, determine how successful could you be, etc.

Core Components of Market Analysis

Market analysis has several core components. Industry analysis lets you know more about the industry environment where you are operating and competing against others. Target Market analysis is related to the customers that you will be targeting. As for competitive analysis, you’ll be able to identify your competitors and how you can win against them.

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Determine Your Purpose

First of all, before you start conducting market analysis, you need to define your purpose. A clearly defined purpose will give you direction and will help you to determine the most important aspects of your business plan.

Try to understand if your purpose is internal or external. The internal purpose will be related to your company directly. Like you could be trying to understand how to increase cash flow or how to improve business operations. External purposes can be related to business loans for example.

Research the State of the Industry

Find out more about the current state of the industry and what aspects could be beneficial for you. You should understand where the industry is heading, what could change in the future, and how those changes could affect you. Also, you’ll see what are the current trends and elements that could be good for your company. It will help you to set up the aspects of your business plan which will be rewarding for you in the future.

Identify Your Target Customer

The business plan should contain information about your target audience and how you can interact with them because they are the ones who help you to achieve success. Consider demographic aspects while discovering them, like what’s their location, profession, interests, education, needs, etc. You could create a customer profile during this process which will help you to determine the most suitable customers for your business.

Understand Your Competition

It’s hard to move forward when you don’t have a clear image of what’s happening around you. You might know a lot about what going on in your company, but you need to understand what’s happening beyond your walls. In order to have a successful business plan you need to go through your competitors as well and understand what they have while you don’t and use all of their benefits and disadvantages to your advantage.

Gather Additional Data

When conducting market analysis for your business plan, information is your biggest friend. The information that you are gathering should be credible and useful. Go through reputable business data resources as well to ensure that you’ll have accurate information. Check valid local commerce sites, market surveys, and statistics.

Analyze Your Data

After gathering information it’s important to analyze it. Your research should most definitely include important aspects of your industry, its size and growth rate, an industry outlook, customer buying trends, what’s the potential of your company and your growth in the current environment and how much customers would pay for your products and services.

After analyzing your data think about how you can use it and make it work for your company. Look through your research and determine how you can improve your company. Your findings could be very valuable and help you with your long-term plans as well.

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What role does Optimization play in your Conversational Growth Strategy?

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What role does Optimization play in your Conversational Growth Strategy?

  • Tags Conversational Growth Strategy, Optimization and Conversational Growth Strategy

Benefits of Conversation Growth Strategy

Adopting a conversational growth strategy is very important and beneficial for numerous reasons. You can increase customer satisfaction levels and turn anybody into a loyal customer. You’ll be able to interact with them faster, more easily, and more productively.

You can have increased revenue through increased market share, brand awareness, and renewals from your loyal customers. You’ll be able to determine which software or tools you need to use and give your brand a more human and attractive image.

Benefits of Optimization

Optimization can be a game-changer for any organization. One of the biggest benefits is that it can help you grow and evolve at rapid speeds. The benefits of search engine optimization (SEO) are well-known and its implementation in conversation growth strategy is crucial.

You’ll be able to drive high-quality traffic to your website, measure your success with real numbers, promote your company on daily bases successfully, increase brand awareness, reach more members of your target audience, etc.

You can also read one of our articles “What are the steps for implementing Conversational Growth Strategy?” to have a better understanding of this topic.

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Determine Your Conversion Rate

Organic traffic is important, but you have to know as well how many people from there can be converted into paying customers. The higher your conversion rate, the more successful you are.

Find out how many people benefit from your services and products and how many of them make purchases or fill out contact forms, and apply for newsletters. Check the number of visitors with your tools.

Create Compelling Content

Compelling content is very important for attracting customers. You’ll need the kind of blog posts or social media posts which will match the reader’s interests. Make clear and valuable offers that will be attractive to them.

Businesses improve the conversion rate when they optimize several important elements. In this case, following SEO guidelines will be very beneficial.

Make the Purchase Process Easy

In order to make the purchase process easy and generally help the customers to find you more easily, you’ll need optimization. You can sort out various payment methods, and make sure that navigation on your website is easy and understandable for customers, but again the rules of SEO which can be used for your content, website, and various SERP aspects are very important to consider.

Importance of SEO for Conversational Growth Strategy

SEO can help you to rank higher in search engine results pages (SERPs), that’s why it’s so important to follow SEO’s guidelines. Your conversation growth strategy can be beneficial for you, but people need to see you more and hear from you more.

With the aid of SEO, you’ll be able to increase conversion rates, have more high-quality content, increase your visibility, and generally help your business grow.

Create Keyword-Rich Content

While using conversation growth strategies you’ll be communicating with your customers via multiple channels, like emails, social media platforms, etc. While using important keywords you’ll be able to attract the attention of your target audience better.

You’ll be able to attract organic traffic with this solution and increase the success of your conversational growth strategy. With this strategy, you’ll be able to deal with your customers better and more efficiently as well.

Optimize Title Tags and Meta Descriptions

While talking about SEO, websites, and visibility, it’s important to mention title tags and meta descriptions as well, because they help you to describe the content of your webpage better and help you to become easily reachable for the audience who is interested in your company or just companies which are similar to yours. So those aspects have to be very effective.

SEO and Content Go Hand-In-Hand  

It’s impossible to deny the connection between those two. You need SEO-friendly content no matter what you are doing, and it needs to be relevant, valuable, attractive, and engaging. Your customers should come back for more.

You have to know that when you are trying to reach more customers and create valuable and productive connections with them you’ll need to be armed with optimization as well, to be more visible to them and to show them the high quality of your products and services.

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How can you shorten the Sales Cycle and Accelerate Sales?

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How can you shorten the Sales Cycle and Accelerate Sales?

  • Tags Accelerate Sales, Shorten Sales Cycle

How Sales Cycle Can Help Your Team

A sales cycle is a framework that consists of detailed steps or stages which are necessary to close deals and make sales. This framework could be unique in certain ways based on the company and what they are selling, but there are several important steps that should be considered in every framework.

When everything is done well, you can provide your team with the tool that will help them to achieve maximum results, and also help them to shorten the sales cycle and close more deals as well.

Understand Where Your Business is Today

Before you start working on any strategy you have to know your current place in the market and generally where you are standing. Also, determine what are your strengths and weaknesses. Your team might have some pain points; they might be going through some setbacks.

They are participating in the most vital aspect of your company, they are selling for you, so you have to know more about them and your general environment before you take your next steps.

Embrace New Tools and Technology

Resisting new technology will only lead you to a passive sales strategy because most companies are trying to implement more digital aspects into their companies and benefit greatly from it.

You have to use those chances as well because implementing different technologies will help your sales team to track data, better deal with tasks, and increase sales. You can look through our articles about Software Engineering as well, to understand more about different options.

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Set Up Goals

Your team needs to know what are your company’s goals because it will help them to communicate with potential and existing customers. The sales cycle isn’t only about selling something, closing deals, etc.

Behind those actions is always a specific goal that needs to be achieved. Goals are like directions for your team members which help them to measure everything better.

Explore Prospect Objections

Besides having clear goals and being confident while communicating with customers, it’s important to be prepared with other aspects as well. You need to be original and natural in your approach.

You have to deal with objections in a more helpful and accurate way. Using phrases that convey empathy but have no real feelings in them is very easy to see for the clients. So make sure that you know what are their requirements and which solutions you can help them with.

Singing Contracts from Any Device Should Be Easy

What every customer wants right now in this busy and hectic world is to get immediate results, especially when it comes to customer service or sales, and all customers use different devices to reach you, like mobile phones, tablets, etc.

If you want to be the top performer in your field, you need to constantly improve your sales technique based on your customers’ requirements. For example, online contracts that can be signed from any device are very comfortable for customers.

Highlight Social Proof

Your prospects might not trust you straight away but their peers’ opinions will have some kind of influence on them. Numerous buying decisions are made with recommandations from peers.

You can send the prospect case studies, show them how others benefit from your company, and build trust. Because the importance of social proof theory is great and mostly is about how people tend to adopt the beliefs that their trusted group has.

Take Care of CRM

Always check the CRM contact list, determine who is more interested in your products and services, and make sure that you’ll reach the right people at the right time. Check emails as well and determine generally who is more active and who doesn’t respond to you at all.

You can create a “cold” list where you’ll have people who don’t respond to you or don’t seem interested and pay more attention to others. Just because somebody was moved into a “cold” list doesn’t mean that you can’t work with them in the future, you can start working on different strategies that will be more suitable for them.

Create a Personalized Experience for your Prospects

Prospects always feel everything and sometimes have to deal with thousands of emails on daily bases, receive calls about new products, etc. It’s hard to impress them with anything, so it’s crucial to make their experience more personalized. To show them that they aren’t just random numbers on names on your list.

Call them by their names and use them in messages and emails. Offer them solutions, not products. Listen more than you talk, use their language and terminology while speaking with them, and remind them of your value time after time, like for example send them regular emails which will update them about interesting news.

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What is the Difference between Customer Acquisition and Retention?

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What is the Difference between Customer Acquisition and Retention?

  • Tags Customer Acquisition, Customer Retention, Difference between Customer Acquisition and Retention

Importance of Customer Acquisition and Retention

It’s impossible to exist in the business world without challenges. Like often there is a challenge of getting new customers, then you might lose existing customers, also you might have to solve your problems with limited resources. This s just a very small list.

However, there are several important factors that are crucial for companies, like customer acquisition, which is related to getting new customers for your company, and customer retention, which is about keeping existing customers in your business. Business without customer acquisition is stagnant and without customer retention, it’s stuck on a treadmill, where it’s running nonstop without going anywhere.

Customer Acquisition as Your Priority

When customer acquisition is your priority you actively work on sales and every aspect related to it. You have a chance to get numerous customers who will buy from you or use your services. It’s beneficial for you, but it’s interesting what will happen in the future. Will they keep buying from you or is it just a one-time thing?

Customer Retention as Your Priority

Customer retention is vital for long-term business success. In today’s world there is a lot of competition, so just closing the deal isn’t always working, and even when it works it’s not enough. You can think that selling your software to one client is okay, but what really happens when there are numerous software out there and all of them are better than others?

Companies are giving customers chance to try out free trials, to show them what they can offer and also to get their loyalty. They need somebody who will stay with them and will be interested in other products that they have or will develop because of the huge competition on market. That’s why customer retention is important, you need to keep your customers in your company.

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Customer Lifetime

There are numerous customer acquisition strategies, you can even read one of our articles “What are the Best Customer Acquisition Strategies” to have a better understanding of this topic. Besides attracting customers it’s important to keep them as well.

Keeping customers that you acquired gives you more financial benefits and gives your company a better name. Long-term customers are great for referrals as well, they will recommend you to other people with great pleasure.

Customer Acquisition and Retention Drive Growth

Customer acquisition and retention are like two wings of a bird, and if one of them has problems, flight becomes impossible. Both of those elements are very different from each other, but you need both of them to be successful.

The acquisition grows your customer base, and retention grows your customer lifetime value. The acquisition could cost more for the company, but with a good retention strategy, you’ll be able to generate significant returns.

Determine What Are Your Goals

Customer acquisition and retention as well are very important for companies, so ideally it would be great to focus on both of them. You need to determine which one is more beneficial for you or how could you use both of them. For example, many SaaS companies focus on retention. But you need to keep in mind that customer acquisition and customer retention are like two sides of the same coin.

Companies Using Different Strategies

Based on how big and popular they are, companies use acquisition and retention strategies differently. It’s important to use both strategies for a successful future, but the process can be very creative and original.

For example, Coca-Cola has a great history of customer engagement. Their customer retention strategies give people fun memories that aren’t easily forgettable. The “Share a Coke” campaign was a very successful retention strategy. They just changed their brand’s names with actual names and the reactions of people were phenomenal.

Amazon is another great company for whom successful retention strategies are related to giving their customers chance to have personalized experiences, and also they have a good return policy as well. So you can use many options, like personalized services, customer feedback, social media platforms, and many others to bring success to your company.

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How do you have to prepare for a Telemarketing Campaign?

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How do you have to prepare for a Telemarketing Campaign?

  • Tags Preparing for Telemarketing Campaign, Telemarketing Campaign

Benefits of Telemarketing Campaign

Telemarketing as the direct marketing of goods or services to potential customers over the phone or the internet is an effective way for companies to increase sales and their visibility. It’s a very good option to find new customers and sustain good relationships with your old customers as well.

You can provide them with more information and increase their interest in your company, you can generate leads and set up appointments, sell from distance, reach more customers, and generally achieve better results.

It Starts with Target Audience

First of all, you have to know whom you’ll be reaching and what they’re interested in. So you have to choose and study your target audience. You need to have a database of target prospects with accurate data. After that, you can start researching their general requirements, and their previous interests and determine how you can approach them and help them.

Create a Strategy and Set Your Objectives

You need a clearly defined strategy that will help you to get hold of quality leads and also will help you to close the deals. You need to know more about your target audience because, in the telemarketing world, nobody cares about what you know before they won’t understand that you care.

“Pitch” that is frequently used in such cases isn’t only about product description, you need to implement more empathetic aspects in your conversation when you are dealing with your customers and show them that you are really interested in solving their issues and helping them with different options. You need to know how to introduce yourself and think about the basic structure of conversation that could work with your customer.

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Identify the Right Message

Working on strategy and setting up your objectives will help you to clearly define your message. It’s something that will be used in every part of your pitch, your emails, etc. It’s something that has to reach your audience and leave an impression. Identify their needs and let them know how you can fulfill them, otherwise, you won’t be able to make them interested in you.

For example, people seldom like how washing machine looks, but it has benefit, it can wash your clothes, that’s the only reason why you’re buying it. Your customers have to understand that the benefit of your product can fulfill their needs and they will forget everything else.

Systems are Crucial

Besides the aspects that your team has to consider about communication with customers, you need to work on systems as well. A good CRM system will be crucial for you in order to improve your marketing and customer relationships.

Since this is a very important factor for telemarketing and generally for lots of companies when they deal with numerous clients, you can read one of our articles about “How to Create a Good CRM Strategy for Your Company” in order to have a better understanding of this topic.

Provide Other Stimuli

It’s not strictly necessary to only call your clients and wait for their response. Most of them might be very busy and not have enough time for you no matter how great news you have for them. But not getting an answer isn’t the end. You can use other communication channels as well to get their response and check if they are truly interested in you.

You can use email marketing to reach the target audience and tell them everything. Also, besides that, you can send them follow-up emails as well and maintain contact with them. Just because they couldn’t answer you once or didn’t like the first offer, doesn’t mean that it will happen again.

Measure and Report

First of all, your team needs proper CRM to reach the customers better and keep important information there. Also, it’s important to measure the success and results of your teams, for that you can start daily reporting, benchmarking, monitoring the right KPIs, etc.

You should measure the number of calls, and how many of them were successful or could give you good results in the future. By comparing results on daily bases you’ll see your progress and also what could be changed.

Be flexible and pay attention to details while measuring and evaluating everything. Train your team on regular bases to improve their skills and help them progress. Sales progress and change all the time, so it’s important to keep up with those changes.

What We Offer

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What are the best Customer Acquisition Strategies?

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What are the best Customer Acquisition Strategies?

  • Tags Customer Acquisition Strategies

Importance of Customer Acquisition Strategies

Customer acquisition is one of the most talked about concepts because every business needs customers in order to succeed. To put it simply the main goal of customer acquisition is to bring new customers to your business.

Companies use numerous ways to attract customers, including social media platforms, paid advertising, email marketing, referral programs, and SEO. The customer acquisition strategy is never set in stone. Your products, customers, or markets might change, so your strategy can evolve and change as well.

Key Stages of Customer Acquisition Funnel

There are multiple versions of customer acquisition and they can be adapted based on your needs and requirements but it has several key stages that should always be considered. The first stage is awareness, where customers get interested in your company.

During the consideration stage customers are researching you with the intent to buy. The conversion stage is about customers purchasing your product. The retention stage is about customers developing loyal relationships with your company.

Pay-Per-Click (PPC) Ad Campaigns

PPC can help you to reach a wider audience more quickly. There are two primary types of PPC that you could use, they are display ads and search ads. Display ads are visible in different forms for people who are online. They are very useful when customers aren’t sure about a purchase, this way you can reach them again and remind them of the benefits that they can get from your company.

Search ads are shown to users via search engine results on pages when they are searching for specific keywords that might be connected to you. It’s great for generating demand and can help you find leads who are very interested in the kind of products and services that you have.

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Affiliate Marketing

Affiliate marketing is the process of paying someone else to market your products and services for you. In this case, products and services are shared on social media platforms, websites, etc. While you are developing and improving your products, people whom you get in contact with work on marketing strategy and help you to sell your product.

Referrals

Referral marketing is another interesting and useful strategy for customer acquisition. In this case, customers who are happy with your products or services can refer others to your business. Referrals often happen spontaneously but businesses can increase their frequency with appropriate strategies.

In order to do so, you need to make the product experience shareable, and you can create that vibe with your website design, images, product descriptions, etc. You have to provide exceptional customer service, because happy customers will help you better with this strategy, create viral content and mention referral programs to your customers.

Content Marketing

Content marketing is a strategic marketing approach that is focused on creating and distributing valuable and relevant content to attract a clearly defined audience. It can help you with customer acquisition and can drive profitable customer actions.

Numerous leading brands actively use content marketing strategy, because it’s cost-effective, can increase sales, makes customers more invested in the company, etc. When you have high-quality content and you can show it to your customers on a regular basis, you can be sure about your success.

Search Engine Optimization (SEO)

Customers should be able to find you easily, that’s what SEO helps you with. So when your customers or potential customers will try to search for you or will look up any keyword related to you, you’ll be one of the first options that they’ll come across.

All pages of your site, blog posts, and contact pages should be optimized in a way that appeals to the needs and requirements of these potential customers. SEO is a little bit tricky but if you’ll follow the guidelines the results will have a positive impact on your business.

Email Marketing

Email marketing is an effective way for reaching your customers and making connections with them. You need information about your customers, what they are interested in and what are their requirements, based on this you can send them relevant messages regularly.

You can create personalized content for them and create better connections this way, collect feedback, generate traffic to your site, generally reach the right people at the right time, and update them about your products and services.

Social Media Marketing

Social media marketing is a great way to nurture relationships with your customers and generally help people who are interested in companies like yours to discover you more easily and understand more about you.

With social media marketing, you can improve your brand image, engage the audience, increase sales and conversion rates, boost website traffic, learn more about your target audience, and keep up with industry trends.

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How to do an Audit of your Company

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How to do an Audit of your Company

  • Tags Audit of Company, How to do Audit of Company

Preparing for an Audit

Doing audits on a regular basis is important, it can help you analyze a business’s financial records and verify their accuracy and completeness. An audit will help you to go through different aspects systematically and will help you to understand more about your financial transactions.

Conducting an audit can help you to check the accuracy of your business finances and processes, find errors in different financial processes, you can even start implementing new accounting or business strategies, and make better business decisions.

Start Planning the Audit of Your Company

During this process everything must be clear, old documents should be researched and compared to new financial statistics that the company has now. Based on this information basic audit program can be created.

You need to know which areas of your business need an audit, who will conduct the audit, also when it will begin and when will it end, and how frequently it will be done generally. Create an audit schedule where you’ll see which aspects of your company will be audited, when, and how to always have detailed information.

Identifying Potential Errors

It’s important to determine any aspects that might not go well enough with the company and its goals, you can use the recommandations of the audit team or just go through different aspects of the company. Every company has specific ways of working and they are operating in different environments, so it’s crucial to consider many different topics while identifying potential errors. 

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Notify Your Employees

Departments should be notified about audits and their purpose. Sometimes there is a surprise audit as well when companies think that they might be dealing with some suspicious activities. But in normal circumstances, you have to alert your employees and ask them to provide you with documents that are necessary for the audit.

Opening Meeting

This type of meeting includes management and every administrative personnel that’s somehow related to the audit. In this case, you’ll be discussing the purpose and significance of audits. The audit program might go through some changes based on what will be discussed in the meeting.

At the end of the audit process, your discoveries might push you to change many aspects of your company so it’s better to let your team deal with the idea that some things might not be the same anymore and soon you might start working on different strategies to improve your business.

Start Conducting the Audit

You have to start taking the first steps after going through the previous stages. Make sure that you’ll have all the necessary documents gathered from your team members, you also have to know more about their skills and generally determine how they could help you now, you can do reviews about business processes as well.

Document and Report Your Findings

Write down and analyze every new aspect that you discovered and evaluate how your findings could improve your business. Analyze the main gain of the audit and what other people around you think about it because they might see totally new side of things.

The more details you have, the better you understand what works and what doesn’t in your company. You might connect the important dots and find out that aspects that seemed irrelevant to you actually hold an important place and vice versa.

Make Changes

Use your audit results to make changes. Don’t discard the findings that could make great changes to your company. But first of all, analyze everything and determine what’s the most important aspect and what changes need to be made.

For example, you might discover that you need additional training for your employees, you might need to change a business process, or maybe you need to update financial statements and many more. You’ll be able to discover and correct lots of issues this way.

Solutions for Audit Management

There are numerous software and solutions that could help you with any process which is connected to audit. For example, AuditBoard’s platform can help you to leverage risk as a strategic driver. HighBond can process a large amount of data for you and is very user-friendly. Based on your goals you can choose any tools that would make your job easier and more efficient.

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What are the 10 Key Steps in Generating Demand?

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What are the 10 Key Steps in Generating Demand?

  • Tags 10 Key Steps in Generating Demand, Generating Demand

Importance of Demand Generation

Generating demand is always one of the main interests of any company. It’s the process that can help you to make customers more interested in products and services. You will understand more about your customers and their preferences and gain vital information for your business.

Generating demand is always related to processes that increase awareness of the product amongst a general target audience, it can help you to increase engagement levels of customers as well. All the aspects and processes that are related to demand generation are very beneficial and rewarding.

Collaboration Between Sales and Marketing

Marketing and sales departments should always work very close to each other to exchange ideas and determine the best ways of operating for generating demand. Combining marketing techniques with sales knowledge will give you maximum benefits. This way you’ll be able to generate demand, keep the customers loyal to you, and determine the next steps for your future.

KPIs

In order to determine how successful you are or how your strategies are working, you need solutions that will help you to measure more important aspects. KPIs will help you to measure any aspect related to generating demand to determine how effective they are.

It can help you monitor lead quality score, customer lifetime value, content conversion rate, etc. This way you’ll determine what is working for you, what needs improvement, and which strategies should be canceled. With KPIs, you’ll see the connections between the demand generation efforts and the growth of your business.

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Create Interactive Content

Interactive content is a very important factor. It’s the solution that grabs the attention of customers very easily, so it should be very good. Interactive content could help you to drive traffic and generate qualified leads. You can use quizzes, interactive infographics, interactive webinars, films, videos, etc. Actively engaging your audience to interact with you will help you to make connections and increase demand.

Increase Brand Awareness

First of all, promote your interactive content. Your customers should be interested in your content and should find it engaging. Content should not make a one-time impression that will fade over time, customers should always remember the good feelings that they got from your content.

To increase your brand awareness, you can use several solutions. You can use your website, social media platforms, email, and communities that are related to you. Be as visible as possible and use all the options around you. Social media platforms can do magic for most companies when they are trying to create demand and become more popular.

Use Promotions to Drive Your Target Audience

In the beginning, it’s necessary to use paid promotions. The main goal is to attract as many people as possible. After reaching that goal you’ll see numerous other options that can aid you in continuous growth. You can use social media platforms to reach your loyal customers and also attract the attention of new ones.

Offer Free Products or Services

People always get interested in free products and services and are more than happy to use them even when they aren’t loyal customers of the specific company. Also, it helps you gain the trust of your target audience, promotes a positive brand image, and also you can understand more about the buying habits of your customers. You can do contests, and giveaways via social media platforms, engage your customers, gain their trust, and generate demand.

Use Free Tools and Resources

In this case, you can use software, apps, etc. There are lots of free options that you can use for different purposes. There are tools that help you with website tracking, lead capturing, and many more. Also, you can use solutions that will help you create compelling content, which you will be able to post on blogs, on social media platforms and gain the attention of your customers immediately. Depending on what’s your goal, you can use the tools that will help you monitor the activity of your customers or help you create visuals.

Content Syndication

It’s another solution that could help you with demand generation. Content syndication is about giving your content to someone else, while you of course still have the full copyrights. You can grab the attention of the wider audience effectively. For example, Quora and LinkedIn have some posts which at the end tell you how this post was on a different webpage before. You can use this tactic as well and become more visible.

A/B Testing

A/B Testing is also known as split testing or bucked testing and can help you to compare two variations of the same element. You’ll understand which variations are better for generating demand. You can compare different campaigns and determine the next steps as well for the future. With A/B testing you’ll see which options work better for you.

For example, you can decide if you should post during morning hours or evening, if you should use long captions or short, if you should use more videos or different types of content, etc.

Optimize Email Marketing

Email marketing is a great solution for spreading information about your products or services. You can highlight the most important aspects of your products, nurture long-term relationships with your customers and effectively promote your brand. With good emails, you can effectively improve the sales cycle and generate demand.

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