The reality is that your business is going to experience ups and downs over the years. It’s unlikely you’ll always be in a powerful position without any obstacles or roadblocks to overcome. Here are some of the practical solutions to struggling businesses.
If you’ve ever wanted to build & scale up your online business, this piece is for you.
Here are the principles of online marketing from my experience over the years:
#1 Out-Teach Your Competition:
When people learn from you, they promote you.
Everybody likes helpful people, so share your best ideas regularly and adopt a service mentality.
The more you help others, the more they’ll help you in return.
2. Ride Trends:
The Internet is a global conversation. Nearly every social media promotes trending ideas. Aligning yourself with the talk of the day will serve as turbo boost for your creations.
An example is business owners in Nigeria using the ‘japa’ & ’emilokan’ slang..
3. Build a distribution advantage:
Distribution advantages take time to build.
But because they require such consistent dedication, they are hard to compete with.
One example: Promoting your service based offer on Groups where your target audience hang out.
#4 Trust isn’t for sale:
You can buy reach, but you can’t buy trust.
Paid advertisements will give you eyeballs, but repeated high-quality interactions are the only way to generate trust.
Once you lose somebody’s trust, you can’t buy it back. You have to earn it.
#5 Repetition sells:
Marketers know that repetition is nearly indistinguishable from truth, and the more people are exposed to an idea, the more likely they are to buy into it.
Only once an idea seems obvious and repetitive to you will people finally start to get it.
#6 Master one channel:
Instead of trying to be active on every platform, pick one platform and master it.
Since the Internet is driven by power laws, it’s better to be prominent on one valuable platform than average on a bunch of them.
Find what works, then go all-in.
#7 A/B testing.
The best marketing strategies aren’t things you’ll find randomly on the internet. If they were that simple, everybody would do them.
Embrace your creative side.
Look for up-and-coming strategies that haven’t hit the mainstream and try them out for yourself.
#8 Hire a Chief Evangelist:
On social media, people want to follow people — not companies.
You can start by hiring macro or top influencers in your space who are aligned with your values, and pay them to create high-quality content.
#9 The Paradox of Specificity:
In the Internet age, when everybody has Google search and social media, differentiation is free marketing. The more specific your goal, the more opportunities you’ll create.
Narrow your focus to expand your horizons.
#10 Take people behind the scenes:
People flock to stories they resonate with, which is why documentaries, how-to videos, BTS, have become some of the world’s best marketing assets.
Apply these principles consistently over the next 3 – 6 months, you will witness massive growth in your business.
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