BEST TIME TO REBRAND YOUR PRODUCT
There is every possibility you have heard about rebranding for a while, and you don’t even understand what it is all about especially when you live in an environment where people claim to engage in rebranding without full knowledge of what it is.
Before we proceed in this article, it is crucial to explain the term rebranding.
What is Rebranding?
Rebranding is the term used for the process which involves the use of a new marketing strategy that includes a complete change of name, term, design and several things that have to do with your business as you deem it fit.
Because rebranding involves carefully strategizing and coming up with something new, does it mean every business needs to undergo the process of rebranding, or is it intended for only some specific sets of people?
Who Needs Rebranding
When your business is moving smoothly, and you are getting enough income either as expected or a little above the expected level, it is vital for you to understand that rebranding is not meant for you because you have succeeded in making your business popular and gaining enough attention that could last you decades if adequately managed.
Rebranding is meant for people whose business has lost significant and seems to be going out of the market gradually maybe dues to an unexpected event or a deliberate change that turned out to have a negative effect instead of a positive effect.
When is Rebranding Necessary
Several people make the mistake of waiting for the business to get worst before taking the giant step of repackaging their services. Once you notice a shift in your position in the market which you sense could end up driving you out of the market, it is advisable to take the bold step of rebranding because delay could be more dangerous than you envisaged.
E-COMMERCE AND TRADITIONAL TRADING METHOD: WHICH IS THE BEST
Before computer or internet came into existence, people have been doing business in several amazing capacities. Buying and selling, before the invention of currency, has been existing. People utilize exchange methods. When money came into existence, people started giving value for cash in a place called market.
The era of cash transaction brought about the great traditional method of trading.
Traditional Trading Method
This is a method of trading that involves you going to a designated place of sales to buy different types of product needed for use at home. For people to be able to sell many products, some of them travel down from one town to another to promote awareness and make sales while some just remain where they are hoping to be located by customers.
In a traditional trading method, there is only one method of payment, which is by hand or going to the bank to pay. You don’t get to enjoy making online sales transactions, paying through bank transfer, and other easy methods of payment like you do in e-commerce.
With the advancement of technology, and the desire of people to enjoy trading with ease at their comfort. E-commerce also is known as the electronic market was created as a platform where you can easily put your product online for the whole world to see and buy from you without you traveling from one country to another.
With the use of this method of trading, people developed services that allow their clients or customers to choose if they want a product delivered to their doorstep or if they want to come around to pick it whenever it is convenient for them.
Compared to the traditional method of trading where you have to risk your life traveling from one market to another to sell your products, e-commerce gives you the ability to reach out to people without the fear of losing your life on the highway.
EFFECTIVE METHOD OF INCREASING YOUR PATRONAGE
Over the years, several business owners have been struggling with how to draw the attention of more customers to themselves. Most have failed in making this a reality because they have little knowledge of the essential factors that attract people to patronize them. They prioritize things of little importance than matters of vital importance. What are those things you need to do to increase your patronage?
Indeed any business aims to make cool money, but the error of many businessmen is making money a top priority in their business. The law of wealth emphasizes ensuring that you render quality services rather than focusing on how much you can earn from the services you are providing.
When you offer the best product or services as a businessman, a taste of your product/service will keep the customer coming for more and also increase your customer because a satisfied customer would happily recommend you to other potential customers who would stay when they notice you have something awesome to offer.
When the quality is good, people won’t have any problem paying for the product/service regardless of the price difference. Nevertheless, you must have it in mind that affordability is also important.
When the quality of your service/product is fantastic, you most never forget people intend to get the best quality product/services at an affordable price, and you have lots of competitors that are ready to offer people affordable prices even if they cannot match the quality of your product.
Ensure offering your customers the best quality at the best affordable price. You won’t have to worry much about your patronage because it will naturally increase even when you think you are not working enough to promote it.
Doing something creative and exciting such as games can help promote your patronage. This is because when people understand they stand a chance of winning something significant from patronizing you, they tend to remain loyal if not for the quality you are offering at least it will be for the fun of the game.
HOW TO BECOME A SUCCESSFUL ENTREPRENEUR
Except you intend to work for someone and remain on the payroll of your boss for the rest of your life, it is necessary for you to start up a business of your own where you can be the boss of your life with little or no fear of anyone giving you a sack letter for your mistakes.
This means you have to become an entrepreneur, but this does not mean you can jump into it without learning the necessary things that would enable you to succeed without regrets. You must have noticed several people around you who took the bold step of dropping a resignation letter to start up something new only to run back to their boss begging for another chance.
If you don’t want to have the same story as them, then you need to learn the rudiments.
The world is filled with several people who believe the only way you can make it in life is to get a job that allows you to dress corporately and drive an official car. This means you will face lots of critics while trying to start something new because the beginning is not always pleasant, people would always advise you to quit, but because you know what you are aiming at, you must be strong enough never to allow them to use their negative thought win you over.
Without passion, it is challenging to have enough will or persistence to overcome critics and the negative energies coming your way. Your passion would determine how far you can go. If you must win the war others have lost, then you must be passionate enough.
Because entrepreneurs are risk takers doesn’t mean you have to take every risk when they appear pleasant to you. Take your time to do some proper study before diving into it because some of them are nothing but disaster in disguise.
INCREASING YOUR PRODUCT AWARENESS
A product only gets to sell whenever it is recognized in the market. When there is little or no awareness about it, it tends to remain in the market and even exceed its expiring date without anyone looking at it.
When you have an excellent understanding of some facts about product sales and service rendering, you will know it has now become very important and a thing of high priority to let the news of your product and awareness reach people but far and near if you must sell to your satisfaction.
How do you increase your product awareness?
Name and Packaging
If you must sell a product or promote the rate people are running to you for services, you must understand the concept of business branding. A good understanding of this concept would reveal to you the importance of having an attractive name that would make everybody want to know the services you are rendering or see the product you are selling.
Since you know hearing the name would make people want to see the product, ensure that you package it well enough to attract anyone seeing it for the first time to want to see what is inside the pack. Make the name sweet and ensure the packaging is attractive.
Whenever people hear the word advertisement, they quickly think of television or radio commercials. Knowing that the world has completely changed and lots of people find it more convenient using their mobile phones for several purposes because they hardly have time to stay in front of television due to work and other activities.
To promote the awareness of your product, use several online platforms such as social media to let people know about you, your product and services. The reason is that most people would see and know about your faster than when you utilize the television for your advertisement.
MISTAKES TO AVOID IN E-COMMERCE BUSINESS
With the increase in recognition of e-commerce, not taking your business online would be a very terrible mistake. Nevertheless, it is essential to understand that starting an e-commerce business would require following some steps and avoiding some errors which would quickly bring you down faster than you imagined.
In e-commerce, it is not just about starting the business online. It is about staying online with little or no problem to bring you out of business. How do you make it happen? Read along and learn the mistakes you should avoid in e-commerce business.
Bad Product Presentation Method
As lucrative as an online business is, trust is something of a serious problem. People love to buy things online because of the comfort and the ease of online transactions, but they are always faced with the fear of getting something far different from what they intend to buy because of graphic deception.
Nevertheless, if you fail to present your product correctly in a way that makes it attractive to potential customers, you might never make any sale because you are not always there to explain to them the quality of the product. They depend on what they see and read about your product. If your presentation is wrong, then your business is bound to face serious issues.
Lack of Promotion
Regardless of how excellent the quality of the material you are offering might be, without creating awareness and carrying out proper promotion, nothing is ever going to make sense. Although your business is online already, that doesn’t mean it is going to advertise itself. Take time to utilize all available platform such as social media to make people aware of what you do and how they can reach you easily without stress.
Always give people a reason to choose you above others.
MODERN MARKET VS TRADITIONAL MARKET
To some people, the market has no difference since it is all about selling products or offering services for money. Nevertheless, I would love to enlighten you about the modern and traditional market in this post and what makes them different from each other.
This is the type of market that almost everyone knows. This is because it is the first existing market before things began to change due to an increase in the level of education and exposure of the people. The traditional market is the type of market that focuses on selling products produced by a company or promoting the services of a company regardless of the satisfaction the customers are getting.
The primary aim here is making a profit. By making people aware of the business or company through the use of the common traditional methods that involve the use of pamphlets, radio, and television.
Unlike the traditional method mentioned above, the modern market does not put all attention on the production of goods and the offering of services but also on the satisfaction of each customer or clients because increment in patronage and sales depends mainly on the satisfaction they are getting from your product and services.
Aside from making the public aware of the products you are selling and the services you are rendering through the use of electronic methods, which only focuses a little on television and radio but shifts significant attention to the use of social media platform. The next aim is to ensure that you put a smile on the face of your customers by focusing less attention on the profit you are about to make but significant care on the quality of the service that you are about to offer.
People pay for quality. Providing quality is one of the first things the modern market emphasizes.
PROMOTING YOUR BUSINESS THROUGH CUSTOMER CARE SERVICES
Every business owner aims to increase income as much as possible while also reducing cost. Nevertheless, it is essential to understand that without good patronage, earning your capital or making a profit is extremely difficult.
Most people focus on making more money, and they forget the essential thing which is keeping your customers satisfied regardless of the challenges. In this post, I will put you through some effective ways of satisfying your customer and promoting your business in the process.
The world is continually changing, and people are growing more impatient regarding almost everything. This is something that has led to the closure of several businesses because they have failed to understand that whenever customers make a request for services or complain about any service, they want a fast response without delay.
Whenever you fail to give a quick response to your customer’s request or problem, you tend to start losing your integrity and reputation among them. A frustrated customer never stops patronizing you alone. He or she always drag others along using negative reviews and even prevent potential customers from contacting you.
If you intend to be unique amongst your competitors and promote your business better, then you need to learn the act of responding fast to issues concerning your customers
In business, there are several ways of using a penny to get plenty. Giving gifts is one of those methods. When you are running a business, and you want to keep your customers coming back to you always then you always have to derive means to show them you care and value them more than you value their money. Ensure you keep vital records of your customers, such as their birthday and always try to send messages to show you care and remember them. Aside from that, give little gifts such as calendar, t-shirts, etc. It will make customers talk more of you positively even in your absence and also tell more people about you.
SURVIVING IN THE CHALLENGING WORLD OF TECHNOLOGY
Over the years, technology has been taking over the world, and it is continuously affecting almost every aspect of the world, which includes business. The development of new technological equipment is bringing a drastic reduction in the number of required human effort to get work done while it is also increasing the income of most businesses utilizing it.
This signifies that in the nearest future, machines might completely replace human while the old methods of doing business would completely go into extinction. The understanding of this fact/truth means you need to work on a way of remaining relevant in the market while all these changes seem to be destroying and rebuilding the world of business.
There is nothing that is becoming the rival of technology anytime soon because of the continuous development taking place in the world of technology. Back in the days when technology was just coming up, there was nothing like mobile applications that allows you to buy from e-commerce websites without stress.
Whenever you desire to make any purchase online then, you must utilize your computer and a secure internet connection else you can’t get anything done easily. If you are into e-commerce, you must keep upgrading whenever there is a new technology.
The above illustration can enlighten us perfectly about why it is important to keep yourself updated. Example: If you own an e-commerce website where people sell and buy different products online in the days where there is nothing like an application, you are probably one of the best in town.
Nevertheless, when things began to change due to the improvement in technology, it became evident that having a website/webpage is not just enough but having a mobile-oriented webpage or an application because people desire to be able to carry the market along with them anywhere.
Surviving the world of technology isn’t a difficult task if you can always follow update yourself whenever a significant change seems to have taken place in the world of technology.
WHY PEOPLE FEAR ONLINE SERVICES
Online services keep increasing every day because people are continually getting tired of the rat race. Everyone desires to be in control of his/her life by trying to figure out what they can do to make money without necessarily reporting to work 8:00 AM and closing by 4:00 PM.
This has been helpful to several people, but on the other end, several people are beginning to have little trust in online services. You must be wondering why? Let me show you some of the reasons. Hopefully, you can learn how to use them to promote your business.
Unlike the traditional market, the online market isn’t a place you get to have the opportunity to hold a person responsible for offering fake products or rendering fewer quality services. Although several various communication platforms make you feel comfortable with whosoever, you are about to patronize, but that cannot dispute the fact that there are lots of fake guys out there and some people at some point have fallen victim.
The fear increases in the heart of people daily; some even refuse to engage in online purchase after a single encounter.
An online market is a place people have the opportunity of painting themselves white even when they are black. They tell you they can do what they don’t have the slightest idea of how to do just because they want to make a living.
In the cases of products, so many products appear attractive online due to the packaging, but when they eventually get to you, they are far from what you saw online.
These two factors scare people more than any other factor. Nevertheless, getting services online is not as difficult as you probably think if you know the right way to go about it and if you chose to get your products and services from an online store with high integrity and reputation.