WHY A MARKETING STRATEGY CAN FAIL AND HOW TO AVOID IT?

Marketing strategy is an important part of the marketing planning process, and because its main goal is to increase sales and achieve a sustainable competitive advantage, you want to do it right. A well-crafted strategic plan can help you identify the best opportunities, the tools your company can effectively use to fight competition, save your company’s time and money, serve as a foundation for your communication campaigns, and create consumer preference for the brand.

However, creating a successful marketing strategy can be a real challenge, especially for new entrepreneurs, as it can fail for many reasons. We have made a list of the things you will want to avoid if you want your marketing strategy to succeed.

  1. BAD MARKET RESEARCH

Often times we make errors while interpreting customer feedback or data from surveys and focus groups. It’s our tendency to interpret the data in a way that coincides with what we believe the results should be. The main mistake in market research is not looking for other ways of viewing the data. So while doing market research, make sure you look for alternate ways of interpreting the information and consult your team or company when you analyze the data. Some of them might notice a flaw that you missed, and save you a lot of money and time in the long run.

  1. BAD COMPETITOR ANALYSIS

While coming up with a marketing strategy, it’s important to do an assessment of the strengths and weaknesses of your current and potential competitors. This analysis will provide you with both an offensive and defensive strategic context to identify opportunities and strengths. So what you want to do first is find out who your competitors are. Then, gather information about them that you need for your analysis. After you’ve gathered all the important information, study it and ask yourself how you are going to compete with your competition and pay attention to what they are doing wrong. If you don’t do your competitor analysis smartly, you will end up with goods or services that won’t really sell, as there might already exist something better in the market.

  1. USING ONLY ONE MARKETING CHANNEL

People have a tendency while working on their marketing strategy, to focus only on one marketing channel for many reasons. Sometimes it seems impractical to manage all channels, and you’ll definitely need to prioritize resources on the channels which will give the best returns. But don’t let this turn into putting everything into one channel that seems the most prospective. Social media marketing may seem as the easiest channel through which to reach large audiences, but don’t forget there’s also display advertising, email marketing, and affiliate marketing, all of which can help you attract customers.  

So in a nutshell, if you don’t want your marketing strategy to fail, make sure you do your research, pay attention to what your competitors are doing, and cover and target all marketing aspects – pay special attention to SEO, social media marketing, content creation, and other popular means through which you can market your goods or services digitally.

WHAT TO CHOOSE FOR YOUR E-COMMERCE BETWEEN WORDPRESS, SQUARESPACE, AND SHOPIFY?

Creating a website for your e-commerce nowadays is much easier than it used to be. You no longer have to make your site from the scratch, because there are quite a few website builders available on the market today that will have laid the foundations for you. In this article, we will present you with the three that are, in our opinion, the best ones out there. It’s on you, however, to try them out, and see which one works best for you.

WORDPRESS

Speaking of popularity, WordPress is by far the most popular one, which is the main reason why you’d want to use it for your e-commerce. However, it’s the hardest website builder to learn out of these three. But, when you do learn how to use it, you will realize that your possibilities and options are numerous. The cost of using WordPress is rather minimal, though it will increase as more traffic comes your way.  

SQUARESPACE

Squarespace is not the most popular right now, but that’s only because it’s the newest of the three so it hasn’t taken off just yet – but it’s slowly gaining popularity. Squarespace, unlike WordPress and Shopify, offers no app store. This was actually done intentionally because the company wanted to give you all features you need in the backend. However, as you might gather, this can limit your flexibility and the ability to expand. As for the fee, Squarespace is a little bit more expensive, but it comes with great tools and amazing themes for all businesses.

SHOPIFY

Shopify is the best solution for those who’re looking to make an online shop and need pre-made e-commerce tools. The backend is very friendly and you’ll easily get the most basic elements of the shop configured. The builder will walk you through adding and importing products, customizing the design of the site and setting up your domain. If you’re a beginner, you have nothing to fear about with Shopify. Even if you need a feature that isn’t included with Shopify, you can choose from many third party plugins that integrate with the website builder. Maybe it is somewhat expensive, but considering the features you get, it’s worth it.

IN ALL…

All these website builders are pretty great, but in order to find out which one works best for your business, first, you need to define your needs and goals. Since all of them have different user markets, make sure you know which one is yours before you jump into setting your new site up.

So, in a nutshell: If it’s important for you that your e-commerce page has an awesome template, Squarespace is the one for you. What’s great about it is that its backend is really simple to understand if you’re a web-design beginner. If you’re an intermediate user who wants to have many different tools and customization options at your hand, go for WordPress. Its main benefit is definitely the plugin library. However, if you want to make a great online shop, fast and quick, Shopify is the site to go.

WHAT DOES IT TAKE TO BECOME A SUCCESSFUL ENTREPRENEUR?

Succeeding as an entrepreneur is a lot of work, and before you start working on your business, you will have to work on yourself. There are certain traits that will set the successful entrepreneurs apart, so before jumping into the world of entrepreneurship, take some time to build a strong foundation.

First and foremost, work on developing a firmer and more active mindset with a stronger sense of self – because as an entrepreneur, you will be the one who will decide how and in which direction your business will grow. You’ll have to be on your toes all the time.

And while this dynamic environment can bring more challenges and stress, it can also bring greater fulfillment. But, do you want a comfortable and secure job, or do you want to build something bigger?

BE READY TO TAKE RISKS

One of the most important things you will learn as an entrepreneur is that taking risks is one of the essential parts of entrepreneurial life. In order to achieve something big, you have to be ready to do something big in return. Take Elon Musk for example. After selling PayPal for $165 million dollars, he took almost his entire fortune and invested it in SpaceX and Tesla. These two projects could have failed and left him penniless – but this move made him richer than he was before. So, be ready to invest, but of course, calculate your investments well.

DON’T HESITATE TO DO THE HARD JOBS AND DON’T FEAR FAILURE

If you want to be successful, be ready to roll up your sleeves and do the job others are not willing to do. Make others notice you. You’ll never turn heads if you just sit there and wait for the success to come to you. You have to try, even if it means you’re going to fail sometime. Besides, you know how they say: The faster you fail, the more things you’re able to try.

BE PASSIONATE ABOUT WHAT YOU DO, BUT BE FLEXIBLE

We all know that doing something without motivation can easily in disaster. So if you’re aiming for success, make sure you have chosen an idea that you’re absolutely committed to. Passion is everything in entrepreneurship. Let your idea become your mission.

However, sometimes, no matter how brilliant the idea is, in reality, it just isn’t effective. Therefore, be prepared to adapt to changes and challenges to make your business and your idea more feasible.

BELIEVE IN YOURSELF

Self-confidence is one of the most crucial entrepreneurial traits. You can’t think your idea is good – you have to know it’s good. You have to exude confidence about what you’re offering in order to convince the customers your idea is worth their time and money.

Of course, being self-confident doesn’t mean you have to rely only on yourself – accepting you can’t do everything on your own is another step to becoming a great entrepreneur – but you do have to realize that you are the only one who can make your idea a reality.

At the French Keys we know what it takes to be an entrepreneur, and know how stressful it can be. We help entrepreneurs in different steps of their project, from consulting to launching your project. Contact us for more info. Contact us for more info.

SEO for Newbies

SEO is a term you probably hear being tossed around a lot if you’re someone who’s trying to sell their content on the Internet. For newbies this whole process probably sounds like science fiction – I need to do what in order to what? Sure, it might sound complicated at first, but once you get the hang of it, you’ll understand SEO like a pro in no time!

So what is SEO? What does it even mean? SEO is actually an abbreviation which stands for Search Engine Optimization. In simple terms, it means getting your website found in search engines. You are probably aware that this is the way most people find sites, and because of this, it’s very important to optimize your website for search engines if you want to attract new readers, and finally customers.

Now, how can you do that? First and foremost, you have to know your keywords. Sounds easy, right? It’s not exactly complicated, but don’t be fooled. There’s still a lot of thought included in choosing just the right keywords for your website. Surely you know that on the Internet, competition is pretty strong. This is why you need to choose specific keywords or keyword phrases, those that will take the searcher to your site, not someone else’s. Pay special attention to this step if your business area is a popular one. If you are unsure how to choose your keywords, think about how people might look for what you are offering. So for example, if you have an online store which sells shoes, you don’t want to use shoe store as a keyword because it’s too general. People are more likely to search 9-inch pumps price. Google’s auto suggests can also help you get the list of what people are searching for. When you’ve decided on your keywords, don’t forget to write original and interesting content, and use your keywords throughout it.

Apart from choosing the right keywords, you also need to pay attention to your domain name. Make sure the customers can get a pretty good picture of what you’re selling from its name. Don’t try to be too witty coming up with a name, because customers will more likely click on your link if it contains a word that captures their interest. By this, I mean that if you’re selling shoes, make sure to include the word shoes in your domain name.

There’s more to SEO-ing as you dig deeper into it, but all of the methods come down to making your website more approachable and more easily findable. Not only does optimizing your website for search engine improve the possibility of it being more visited, but it also improves its quality by making it possible for people to use its contents more easily and more effectively.

This is only the first step to SEO, there is much more work needed to be able to rank out your competitor.. follow us and we will explain it to you in our next post!