Tips for Using Content Calendars

July 9th, 2019

Social media marketing is an inexpensive and effective way to engage with your target market and position yourself as a thought leader. But to make it an effective tool, you need to be diligent in keeping your content up-to-date and post regularly. An infrequently-updated blog or social media page with stale posts can actually do more harm than good to your brand and engagement efforts. But many small business owners struggle to find the time to keep their social media profile up to date.

One solution to this is to use a content calendar.

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Leveraging the Law of Reciprocity

June 27th, 2019

by Justin Grensing, Esq., MBA

 

It’s hard to overstate the value of relationships in business. And, while it’s true for companies of any size, this can be especially crucial for success among small and midsized businesses (SMBs) as well as in the B2B world generally. “As an entrepreneur, you have countless relationships you need to manage on a daily basis,” writes Jennifer Spencer in an article for Entrepreneur. “There are your employees. There are the vendors who provide needed support services to help you run your business. And, of course, there are also your customers.”

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Growing a Subscription Model Business

June 20th, 2019

by Justin Grensing, Esq., MBA

 

content marketing, content management, newsjacking, social media, digital marketing, SEO, online marketingWith an up and down history dating back to the 1960s, the software-as-a-service or SaaS model has become the norm in tech-centered industries over the last couple of decades. With a SaaS model, providers of various applications or data storage capabilities allow end-users to remotely access the application or data. This is in contrast to models many of us were familiar with in the 1990s and 2000s where you would purchase an operating system software and install it via CD on a personal computer, for example.

In an article for Entrepreneur, Thomas Smale writes that the SaaS model has moved further and further toward a subscription model and suggests several subscription model-oriented growth strategies. These aren’t strategies only for very large, enterprise organizations. Even the smallest businesses, or solopreneurs, can leverage the subscription model to build sales. Read the rest of this entry »

General Mills Boosts Earnings by Raising Prices

June 18th, 2019

by Justin Grensing, Esq., MBA

 

Where to price products and services is a key part of any business’s marketing and finance strategies. Economic theory includes multiple strategies for pricing, depending on broader business goals. For example, a company looking to maximize profit will try to set its marginal revenue—the revenue received from one additional unit of sale—equal to marginal cost (the cost associated with one additional unit of sale). A company trying to maximize sales will focus on average costs and revenue. The point where they meet is the sales maximizing point.

Of course, these are economic theories, and how these strategies play out in the real world is anything but certain.

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What Social Media Outages Should Tell Content Marketers

June 13th, 2019

by Justin Grensing, Esq., MBA

 

Earlier this year, an outage on Facebook, as well as its subsidiary services Instagram and WhatsApp, demonstrated that even the most sophisticated tech companies and social media platforms are not immune to technical challenges. In an article for Entrepreneur, Kimanzi Constable argues that the outage could hold some important lessons for content marketers and online advertisers. It wasn’t an isolated incident. Lately it seems that every week brings another outage—most minor, but all troubling.

“There is no doubt businesses lost revenue with this outage,” he writes. “For those who pay for advertising, their ads weren’t reaching potential customers. For those that rely on posting in their Facebook groups, on their personal pages and on Instagram, they lost revenue because they couldn’t use the strategy that they’ve always used.” So what should companies do from a strategic standpoint to prevent this kind of negative impact in the future? Read the rest of this entry »

Pros and Cons of Employees and Contractors

June 4th, 2019

by Justin Grensing, Esq., MBA

 

Hiring marketing or content marketing talent?

Staffing is one of the biggest challenges for small and mid-sized businesses. The challenge can be especially acute when a company reaches the stage in which it thinks it needs more help but maybe not necessarily an FTE or when a single FTE might not be enough, but two might be too many.

Just as many workers crave flexibility in their employment relationships—as illustrated by the growth of the gig economy—small and medium-sized businesses (SMBs) also value flexibility in their labor relationships. Rideshare companies like Uber and Lyft, for example, go to great lengths to ensure their workers are classified as contractors instead of employees. The costs of ongoing disagreements over this classification is something Lyft cited as a potential risk in its recent IPO. Read the rest of this entry »

Daimler Learns About Viral Customer Service Stories the Hard Way

May 30th, 2019

There’s an old saying in customer service that a customer who has a good experience with your business might tell a single friend while a customer who has a bad experience will tell ten. Unfortunately, those numbers might be drastically out of date in the age of social media. In an era where any individual has the chance to communicate with millions of people around the world, even a single incidence of poor customer service can have significant impacts for businesses of any kind. Read the rest of this entry »

Google’s EU Fines Illustrate Key Business Concepts

May 29th, 2019

by Justin Grensing, Esq., MBA

Google has not had a great couple of years in Europe. In March, the company was fined 1.5 billion euros—roughly $1.7 billion—for antitrust violations in the online advertising market. This represents the third such fine against the tech giant since 2017. “With the announcement on Wednesday, the European fines against Google total roughly €8.2 billion, or $9.3 billion,” says an article by Adam Satariano for the New York Times. “But the bloc has not received any of the money yet; Google is appealing the earlier decisions, and is mulling whether to appeal the most recent ruling.”

These fines provide some interesting business lessons relevant to any industry. Read the rest of this entry »

What Beer Companies Can Teach Us About the Dangers of Publicly Attacking Competitors

May 28th, 2019

The growth strategyand corresponding marketing strategyof a company has a lot to do with the nature of its industry. When a new market is developed or discovered, we say there is a blue oceanan unmet demand in a market that isn’t served or is vastly underserved. Market share and sales can be increased by simply letting consumers know that a product or service exists and convincing them that they want the product. By contrast, in a red ocean, the market and the major players are already established, and the market is saturated. The only way to increase market share is to take market share from a competitor. That can be exceedingly difficult to do. Read the rest of this entry »

Forget Disruptive Innovation: How NON-disruptive Innovation Can Help You Expand Your Market

May 27th, 2019

Many of us are familiar with the concept of disruptive innovation: a new product or service enters the market and overthrows established competitors by fundamentally changing the paradigm. Common examples include the advent of the automobile, the personal computer,  or direct streaming services. But, do we really need to be disruptively innovative? Read the rest of this entry »