Marketing Strategies for Small Business

 

Hello and welcome to evefinancialinsights.blogspot.com where we discuss everything business, finance and entrepreneurship. 

Marketing is the heartbeat to any business whether your small business has existed for years or just recently started up. Finding the most effective marketing strategies is critical that's because small businesses don't have the same resources to execute as larger scale firms. 

Marketing attracts prospects, prospects become buyers and buyers provide profit. Marketing plan will clearly outline how you will reach your ideal customers by effectively implementing your marketing strategy. There are countless ways to promote your business so it's important to identify and focus on the most effective tactics.

 Marketing is a business functions just like accounting, sales, human resources not a get rich quick strategy. It requires time, energy and resources. Do enough to make it work well for you. 

So many people just focus on showing and promoting their products making it obvious you don't get sales. When it comes to marketing what sounds logical is not always effective.

Do not sell logic sell emotions. Emotional engagement. People associate frequency with trust the more often you show up the more they like and trust naturally. In short be omnipresent.

Your products/ services should be a solution to your customers need and satisfaction. what do they struggle with? how can your product help? This makes you seem like an expert in your field. Stop asking for sales. This is how to market like a pro and once you get this concept you'll never market the same way. 

 First here's how most people market and why they fail. They send traffic to a page and hope to convert people to start buying or using their product. Those likes share and comments are likely to make you feel good but actually they do nothing to drive your business forward.

 Marketing outreach consists a series of small steps. Your job is to take users one step at a time until they love your product and give you as much of their time as possible for example use curiosity to move them one step at a time all the way until they use and love your products. 

If you are marketing a service product you need to nurture your clients let   them have an idea how your products work, take them step by step until they are convinced exactly this is what they need. 

Small business owners usually put out content regarding information on the how to's strategies or tactics however information is everywhere on the internet and anyone can find it.

 As a small business owner you need to figure out how you stand out with your brand information. This involves creating a message that changes people on their beliefs and how they think. Talk about your story, your successes, your struggles  your fears and failures. 

This will transform their lives in one way or another maybe you just motivating another person is an easy way of getting a new loyal customer. if you run an online business and don't have a massive budget for marketing employ simple cost effective methods. 

 I am sure you don’t want to spend all your fortune on marketing so you have to get a little bit creative.  Use Facebook groups that are particular to your niche try to establish if anyone's ever bought from you, what their experience was as a consumer. 

I’m sure you know that experiences create lasting memories so it's important as a small business owner to sell emotions and save all the technical details for later you want to make it very clear how your product or service will make them feel after they use it. 

Describe in detail how the transformation looks like or how it will change their life people buy your product or service for what it will do for them not because of how it looks or who is selling it it's all about experiences so feed into their desires.

 Exhibitions

 Do exhibitions to the target market in the early stages of your business. Avail your products and services ensuring that your sales representatives are convincing and are super friendly.

Let your clients enjoy giveaways and free promotional products something like T shirts coffee mug, water bottle with your brand name. That’s the power of brand experiences and that is literally the future of brand marketing opportunity. 

Press release

The good thing is that they are always free ensure that it covers all the new activities going on in your business. They are very useful to the media houses and content creators.

 Work with  an experienced  person

 We want to make sure we're providing value to everybody but there's a lot of nuances that it comes to digital marketing. When you hire someone you want to work with, someone who can guide you while predicting some outcomes. 

The best interns have some really bright ideas but they lack the experience to take the lead. So majority of the time they wind up following your instructions which defeats the whole purpose.

 Behind hiring someone to help guide you so remember to focus on experience over price because the lack of experience will wind up costing you and wasted time. 

Video marketing

Take videos using Cell phones or camera ensuring that good quality is maintained then post the video on personal/business Facebook and Instagram pages and YouTube channel is a cost effective way of marketing. Unfortunately, so many try to stop you from talking by putting their ads on your video, it’s a bit ridiculous. 

It is almost irritating, you are speaking and some who claims to be successful jumps in and starts taking over your video. This makes   you not want to be one of those folks but if you are strategizing a legitimate business you need to do whatever gets you in front of people.

Car wrap is also a cost effective advertising hack. Your car becomes a free advertising tool wherever you go. It should be done well and creatively. To attract attention.  

Digital marketing for small businesses 

1.     Develop digital assets-establish what digital output the assets are needed for, understand goals and save assets correctly.

2.  Use SEO-this is Search engine optimizers-they tailor solutions to businesses and firms in every step of the way from planning to delivery and beyond. 

3.     Use pay-per-click on search engines. 

4.     Use social media management. 

5.     Use pay-per-click on social media otherwise known as social media advertising.

6.     Hire an experienced agency or consultant. 

Sometimes all you have to do is try. Do not belittle it. Trying takes courage, but your odds of contributing your passion to the world go up immensely if you do. Do it both online and offline. This keeps marketing cost too low.

Keep your feet on the ground, be visionary and practical knowing that to succeed you must loose the fear and risk.

Now I hope all this information was really helpful for you especially when it comes to marketing a small business if you enjoyed it please visit our blog evefinancialinsights.blogspot.com for more helpful content.

 

 

Why the Hostel Business is Booming in Kenya

 

  Before  joining  campus ,most  had   a campus  life  imagination  .This  rotated    around   accommodation  ,course  ,friends  and  even  fun  life  as  a  whole  .When  you  got   admitted  to  campus  ,for  some  their  experience  was  a  dream  come  true  ,others  it  was  halfway  there   and  some  it  was  a  shuttered  dream  because  their  reality  was  on  a  whole  different  angle as to what  they  expected  .

In  terms  of   accommodation  many  can  share  their  stories  of  how  they  have  been  living  ,be  it  on-campus  ,off-campus  and  the  commuters  .This  has  been  an   issue  of  concern  to  most ,hopefully  I  will  make  you  understand  how  it  works.

Being  an  on-campus  resident  is  helpful  when  you’re  a  “fresher”  in  the  university  .This  is  because  you’re  still  on  the  process  of  mastering  your  adulthood  journey  .This  will  help  you  familiarize  yourself  with  the  new  environment  and  help  you  adapt  to  the  new  curriculum  .

Being  an  on-campus  is  an  added  advantage  because  you  will  attend  your  lectures  on  time .The  disadvantage  is  that  you  have  to  share  space  and  theft  is  paramount  especially  phones  and  laptops  .

Off-Campus  stay  to  most  people’s  opinion    is   the  deal  .The  ones  living  in  the  localities  of ‘ Kahawa  Sukari’  ,’Kahawa  Wendani ‘ and ‘ KM ‘ .Just  to  mention  but  a  few  in  the  case  of  Kenyatta  University  .This  is  because  they  have  a  whole  lot of  freedom  (Be  careful  though  not  to  end-up  being  a “ party  rat”  and  forget  yourself  ).

Living  by  your  own  ground  rules  is  quiet  a  privilege  .The  main  pros   is  privacy  especially  if  you’re  introverted  .No  one will  have  to  monitor  your  move  .In-case  you  need  to  live  with  someone  to  share  bills  with  ,you  get  to  choose  your  own  house- mate.

The  challenge  of  being  an  off-campus  student  sets  in   during  house  hunting  .Finding  a  house  that  fits  your  budget  and  has  enough  space  becomes  hectic  at  some  point  .Suppose   you  find  one  ,be  ready  to  handle  the  house  expenses  and  utilities  because  if  not  careful  you  might  end  up  being  kicked  out  for  failure  to  pay  rent  .

Other  than  that  ,be  ready  to  curb  some  housing  challenges   such  as  water  shortages. Expect  to  have  a  water  supply  schedule  in  most  of  the   apartments.

The  commuters  ,they  live   with  their  parents/guardians  in  the  same  house  in  their  university  life  .Some  started  their  accommodation  journey  here  ,while  others  find  themselves  here   most  probably  after  finding  difficulty  living  independently(the “ boomerang “ generation  ).

They  are  nick-named  boomerang  because  they  were  away  either  on  on-campus  or  off-campus  accommodation  then  they  returned  home  .The  pros  of  this  type  of  campus  living  is  that  one  has  more  time  figuring  out  what  they  want  with  their  life  in terms  of  career  decisions  and  passions  .Conversely  ,living  on  your  own  gives  one  less  time  as  you  have  to  think  on  your  feet  .

It  also  saves  on  a  big  chunk  of  money  that  could  be  used  for  rent  and  food  instead  this  could  be  pocketed  for  future  use  .Cons  of   living  with  your  parents  are  associated  with  :compromised  privacy  ,where  you  find  that  you’ll  be  provided  with  unsolicited  advise  on  how  to  live  .

One  might  also  experience  the  social  stigma  as  it’s  believed  that  you  haven’t  made  it  in  your  adulthood  if  you’re  living  with  your parents.

I  have  some  true  stories  on  accommodation  .Joe  (not  his  real  name  )  ,he  was  admitted  to  the  university  hostels  when  a  freshman  ,then  someone  broke  into  his  hostel  when  he  was  away  only  to  find  his  laptop  stolen  .

This  was  quiet  difficult  for  him  to  handle .He  decided  to  pack  and  live  for  his  cousin’s  place  that  same  night  .Living  with  his  cousin  for  him  was  a  challenge  because  he  had  to  follow  his  routine  and  do  most  of  the  house  chores  .

He  felt  like  his  privacy  was  being  intruded  and  his  time  was  being  spent  on  what  he  didn’t  like  .He  consulted  his  parents  and  thy  offered  to  rent  for  him  a  house  in  the  localities  near  campus  .

So  that’s  where  he  dwells  till  date  .Sandy(Not  her  real  name  )  was  living  off-campus  in  a  rented  apartment  ,housing  expenses  became  a  challenge  for  her  to  handle  so  she  decided  to  return  home  and  incur  travel  costs  to  school  instead.

If  given  a  choice , once  you  join  academe  you  must  study  the  environment  to  decide  which  type  of  accommodation  suits  you  best  .This  is  based  on  your  taste  and  preference  .On  the  other  hand  if  you  are  left  choice less  you  have  to  develop  an  adaptability  whereby  you  have  to  grow  where  you  were  planted  .

East  or  west  education  brought  us  to  campus  so  one  must  achieve  for  the  given  period  of  their  course  duration  . If  change  comes  embrace  the  change  ,hope  your  accommodation  story  changes  for  the  better  !

 In Kenya, major cities and town there are several universities and tertiary colleges leading to the need of accommodation. The numbers of students are tremendously increasing so you can never go wrong in Hostel businesses.

Cycles of Financial Mistakes

 

 Hello and welcome to our today’s blog on financial mistakes and how to curb them. It is time to make hay while the sun shines.

Evefinancialinsights blog ensures that you will not regret in future and wish  that you had someone to suggest financial valuable tips long ago when you started your career.

We have divided this article in age-based sections for your better understanding.

 Age 20

As a teenager, it takes a lot of dedication and mentorship to start a financial health journey. We understand the mental struggles and all the emotional rollercoasters you are going through at this puberty stage of life. There is a bright future stay positive and trust yourself you can do it.

When you are saving money at a young age do not save too much do not sacrifice fun experiences for the sake of having extra money in your account. Do it moderately after all you have all the time. Instilling the good financial habit is the key here.Once you get the flow repeat it for the rest of your life.

Nevertheless excuses like I am still young. I just finished college, I just started working, Next time I will invest will keep you slugging.

Unfortunately, our school systems do not teach our children anything about finances and future planning or anything that is helpful in the finance world. This would have a great positive impact in our overall economy.

Kindly read our previous blog on Financial Literacy for Children for information that is more comprehensive. Please find the link down below.

 AGE 30

Understanding how money works ,avoiding debt traps and high interest payment at this stage in life is paramount .Spend free time on meaningful things when you are unoccupied add some habits that will help you in  the future. Skills like editing, photoshoping, web developing, video programing etc.

Please do not give room for these excuses; I am enjoying my youthfulness, you only live once, I just started climbing the corporate ladder the other day, I am newly married and still enjoying my honeymoon stage. Next time I will invest

AGE40

You have to plan on your retirement saving.at this stage no compromising in your goals and objectives as it will affect you dearly and may be you may not be able to recover. Do a regular evaluation for short and long-term goals. Prioritize your goals.

You are half of your working life. The reality of life and responsibilities sets in but this does not warrant these excuses .My children school fees are expensive; I just build a family home, or may be aging parent to look after. I have no more money to invest.

At 50

Money is a store of labor from when you could work for use later in life when you are unable or less able to work.  At this time, you are supposed to have a good retirement savings .unfortunately the government is still on your case taxing your pension. Retire with dignity.

Security and peace are important to you. This will save you regrets if I am about to retire, I do not have any investments yet.

The word of God says, “A good man leaves inheritance to his great grandchildren”. Are you a good man?

I am retired I will let my children take care of me.This should not be the case.

It is important not to be negative about who achieve success and wealth respect and do not criticize them. As the saying goes, you cannot fight something and have it.

Today is the youngest you will ever be, protect your finances and be on your way to financial freedom.

Starting early is the best way of getting ahead to build wealth, investing remains a priority.so start today.

Do not think you are sacrificing today for the better tomorrow instead enjoy the journey. Do not be compulsive shopper instead save and budget with what you have.

The stock markets has plenty of opportunity to earn a decent amount of money with the right skills and proper understanding of how the markets works. If you stay invested, ignore the markets up, and downs, you will make a lot of money in the end that is why it is better to trade than to hold. The only thing is to know where to focus.

You may not have have those millions to invest but that does not mean your money cannot share same opportunity available to others. You work hard for your money; make sure your little money works hard for you too.

Start finding fun and intrinsic joy in your financial journey rather than getting scores. Whatever you are doing to get money, always have a plan of what to expect but prepare for risks, this will save you from losses you are not prepared for. Learn to manage your money through investments as the saying goes money cannot happiness but poverty cannot but anything.

Expose yourself to more moneymaking and entrepreneurship content.infact you are at home with evefinancialinsights.blogspot.com

Engage the services of a financial planner in all stages of life.

https://evefinancialinsights.blogspot.com/2023/01/financial-literacy-for-children.html

"What are your weaknesses?"-The best answers to this interview question.

 

 What are your weaknesses?

One of the most common questions you will get during an interview when you are applying for a job. Now and over the years,

 This question has been asked to so many applicants and the answers they give are shocking. So today I am going to teach you how to answer that question properly.

First, let us talk about what you do not do. So when your employer, your interviewer is asking you, so what are your weaknesses?

Oh, I have none. Do not ever say that. It is a lie.

You know it is a lie, I know it is a lie. 

In addition, do not say, well, I never thought about it or no one ever asked me that. Maybe you think you are being smart with the ply. Do not do that. It just shows you are dishonest and it shows you lack self-awareness. Those are not good answers.

Here are the most given answers that are a big No.

I am kind of a workaholic and a bit too much of a perfectionist. I know that this is familiar to you too.

 Do not try to turn it and put a positive spin on it when you are being asked what your weaknesses are. Another one answered all the time, oh, I love people, I love working with people. Really, I do not like you that much right now. Okay, that is not good. 

That is not what you do. So here is how you answer, what are your weaknesses? The key is do not make that about your personality. If you are going to share something, make that about your skill set that you could work on. 

Here is what I mean by that. When you share something about your personality, to an employer it could feel like, well, I don't know if you could fix that, that maybe it's who you are.  But if you make it about a skill set,

Then it is something that you could work on. 

So I will give you an example, what are your weaknesses?

Well, you know, I am more of an introvert and sometimes I notice that I am shy to share my ideas when there is a room of people. Now, see that is a good reply if you are an introvert because here is what is going through my mind.

My mind is thinking, okay, this person is shy and introverted and that is okay. Therefore, it means that in certain scenario, maybe I need to ask this person more to speak up. I could say, hey, you know what? What do you think of this?

On the other hand, in my mind I am also thinking, well, maybe through time once this person becomes more comfortable with everybody else within a company, she could share more ideas.

See that is what is going through my mind. That is fixable. Alternatively, maybe this person could go take Toastmasters, develop more confidence, and work on her public speaking skills a bit.

See, in my mind, all that's fixable .That's fine that is perfectly fine. 

Here is another scenario.

If you share something about your weaknesses not in terms of your personality, but your skill, but also your plan. What have you been doing to work on it or what are you planning to fix this?

So let me give an example, okay.

So what are your weaknesses?

Well, you know what; I am a very creative person. I tend to come up with all kinds of ideas and when I get these ideas, I'm very excited and I want to share that  with everybody, all my managers, my co-workers and I love to just to share. 

In addition, what I realized over the years is sometimes these ideas, sometimes they are good and sometimes they are not so good. Therefore, it is something that I know I need to work on how to prioritize some of these ideas and work on filtering. Moreover, in fact, recently, I have been reading a few books. 

One Richard Koch, 80/20, calls it Principle and Getting Things Done by David Allen. And through the book, I have picked up a lot of techniques and tools. Now they are helping me to filter out some of these ideas and how do I prioritize if there is something that I am working on all the time. 

And of course, I am always open to any coaching from you that can help me to channel my creativity into higher productions for the company.

Boom, you see how that sounds?

You are not bragging, you are not lying. You are saying, hey, I know that I have this problem; I know it is something that I need to work on it,

It is something that I am working on, here is my plan, and at the end, you are asking for coaching.

From my perspective as a CEO, as an employer, I know, okay, first, you are reading books. Damn, that is a big and right there. In addition, you are learning you are self-aware and you know what you need to work on and you are coachable. To me, those are all like plus, plus, from that simply reply.

So what are your weaknesses?

Next time when you get this question, what are going to do?

How are you going to answer it?

Reply to the best of your ability.