Tag: business strategy

Tips for Creative Laundry Business Marketing Strategies

March 18, 2018August 2, 2022 Rihanna

Opening a laundry business can be quite profitable. To increase the chances of this business, you must have a strong business marketing plan. And within any of these business plans, it is important to include an effective marketing strategy.

The laundry business in Indonesia began to be loved in the early 2000s and is growing until now. Given the increasing consumer needs among workers or students, this business seems to never die.

With the increasing number of competitors in this business, you have to be creative. Especially in designing your laundry business marketing strategy.

Determine Your Laundry Business Type

Along with the development of the laundry business, this type of business itself also develops. Therefore you also need a marketing strategy, a creative, strong, and effective laundry business marketing strategy. In general, the type of laundry business that is widely used is the conventional laundry business.

This business is engaged in offering laundry services to consumers. The customer hands over the clothes they want to wash and your employees work on them until the laundry is clean, dry, and neatly folded.

However, nowadays there are modern types of laundry businesses that provide self-service options to consumers and apply a special currency of exchange in the form of coins or cards.

This type of laundry business is commonly called Laundry Coin or Laundry Self-Service. Of course, the choice of the type of laundry business is also closely related to determining the marketing strategy. You can make packages at different prices based on the type of clothing.

Or if you choose a modern laundry business, for example:

Laundry Self-Service, where you can create laundry packages based on the size or type of the washing machine. The use of the dryer and the use of the hot water feature when consumers use the washing machine.

Don’t forget to also give discounts at certain periods to attract your customers as a marketing strategy implementation, a creative, strong, and effective laundry business marketing strategy.

Promote and package them attractively on social media or your website.

Define Target Customers More Specifically When Creating Marketing Strategies, Creative, Strong,, and Effective Laundry Business Marketing Strategies

Unlike other businesses, the scope of the laundry business’s target customers is somewhat narrower. People who do not have a set of washing machines and time to wash their clothes are easy targets for laundry business marketing targets.

Usually, these characteristics or characteristics fall on employees or students who tend to live in temporary housing. Like boarding houses or rented houses, where most people who live there don’t have much free time because of their various activities.

This is important for determining the price that you will promote to your target customers as a marketing strategy implementation, a creative, strong, and effective laundry marketing strategy.

For example, you could give special discounts to students whose income levels are less likely to be as high as the employees in your marketing efforts.

Promote Additional Services at the Laundry

Make sure your laundry business looks different from its competitors. Especially if you run a modern laundry business. You can add features that pamper your customers while they wait for the clothes to finish washing.

Features such as WiFi, modern massage equipment, or TV with premium programming can be unique and interesting to include in your marketing materials.

This is a marketing strategy, a creative, strong,g and effective laundry business marketing strategy to be implemented. So it is hoped that prospective customers will feel comfortable and flock to your modern laundry place. However, these features will certainly increase your fixed costs such as electricity and internet costs.

It is necessary to adjust the budget with your sales package so that you can still get a profit. In the end, by implementing a marketing strategy, this creative, strong, and effective laundry business marketing strategy is expected to bring in more customers.

Always upload and update various packages and additional features that you will offer to customers through social media. Or other media that you use as a marketing instrument to maintain the existence of your laundry business.

Furthermore, don’t forget to always monitor the recording of transactions and financial reporting of your laundry business, which of course you can do online and in real-time.

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Things In Creating Product Marketing Strategies for Children

September 13, 2017August 2, 2022 Rihanna

Here are some things to avoid in a marketing strategy targeting children. First, you must ensure the quality of the material from the product. Of course, children will not pay attention at all to the quality of the product they are going to buy but for their parents, this is an important thing.

Therefore, you should avoid hazardous materials. Usually, entrepreneurs use hazardous materials so that the cost of their raw materials is low so that their profits will be even greater. These conditions may be achieved and run smoothly in the short term but in the long term, it will be a problem.

So that later you don’t experience problems related to the quality of your product’s raw materials, then you don’t use hazardous raw materials that you must include in your marketing strategy.

That way if children want your product then their parents will obey their children to buy it without a second thought.

Has No Value & Benefits

As it is known that parents have an important role in purchasing children’s products.

This is because their parents will pay for the product. Therefore, don’t just make products that are unique, interesting, and funny, but also have value or benefits.

You can provide educational value for example. So that parents of children will not feel a loss because they buy products that have no benefits. Avoiding products that have no benefits is also a pretty good opportunity in today’s business world.

Considering that products for children that have educational value are still minimal, so creating useful products is a very good marketing strategy.

Lack of Market Trial Before Implementation of Children’s Product Marketing Strategy

As we know that research is part of advertising. Without doing research you cannot understand the market needs. Therefore, you should do a trial or market research first before making a marketing strategy.

Do not let you ignore let alone do not do research. Maybe in the beginning you will feel burdened because the research costs are quite expensive. However, gradually you will understand that research is a form of corporate investment.

Mimicking Competitor Marketing

Another important thing that you need to avoid in making a marketing strategy is imitating the advertising concept of competitors or competitors.

This copying of competitors’ marketing is not only shown in terms of children’s marketing but also in marketing in general. Having originality and creativity is a must, don’t let the advertising you do imitate your competitors.

Consumers, both adults, and children will not appreciate your business. Even if they can compare it, of course, it’s not good for your business image. Those are some things that need to be avoided in making a marketing strategy with children targeting.

Now is the time for you to evaluate the marketing strategy that you have created. Is it good? Having a good marketing strategy targeting children will certainly be easier to do if you have good calculations and financial management.

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Important Elements in Marketing, What Are?

January 9, 2016August 1, 2022 Rihanna

Businesses or companies tend to exert more effort to market their products through various marketing elements. They design fancy logos, set up email marketing automation programs, and launch attractive websites. But without a strong product, efforts to build your business brand will be in vain.

It is often heard from several businesses that launch new products and end up failing. Why? The failure can be caused by the following factors:

Lack of understanding of market conditions.
Lack of understanding about customers.
Ineffective communication.
Ineffective product marketing strategy.

It’s important to focus on fixing those failures given the many parties involved and so much time and money you’ve invested in a new product in your business.

Of course, you don’t want to spend all your time and energy focused on building a business brand that ends up being wasted.

A successful product requires a successful product marketing strategy. That means you need to make sure your business products meet customer needs and satisfaction and position them in the right market.

Product

The first step to developing a Product Marketing Strategy is to make sure you have a strong product.

Before you even strategize, you need to make sure the product is made with your target customer in mind and whether it aligns with their needs.

People tend not to want to just buy things, but they want the things they buy to solve their problems.

So ask yourself what problem can your product solve for the customer.

How will the product make the customer’s life better? Answering these questions will help you determine the right message for your product marketing campaign.

The value embedded in your product is more important than the capabilities of the product itself. In other words, you should focus on the benefits of your product instead of its features.

Later, each feature must be developed for a purpose that will provide benefits for customers.

Customers

Just like products, you also need to focus on the customer or potential customer element of your business in planning a marketing strategy.

To do that, you have to understand them. Characteristics, traits, behaviors, and more are key to understanding customers.

Start by doing research and gathering any information about your intended target customers, such as:

Age
Gender
Marital status
Education
Profession
Hobby

Better yet, interview your customers. Arrange phone calls or meetings with customers and ask about their preferences for your product.

Listen to the way they speak and the language they use, this can help to shape the narrative of your Product Marketing Strategy later.

Any information that comes from customers can help in uncovering your customers’ preferences and the best way to market your products to them.

Once all the information is gathered, start building a buyer persona in the product you are going to market.

In your research, you may find some common patterns among customers.

These similarities can be grouped to help create a buyer persona or archetype of what your ideal customer looks like and how they behave.

Order

You certainly need to communicate with your customers. Because according to several research results related to product marketing, 57% of consumers feel confident when they are emotionally connected to a brand.

And of course, the emotional connection is built through the message you convey regarding the product you are marketing.

Your product message should be narrative. Because the narrative is the easiest way to get your customers connected to your product.

You can write articles on blogs and take advantage of the Search Engine Optimization (SEO) feature so that inspiring articles related to your business products can be found easily on the internet.

Marketing Team

Developing and promoting a product requires effort and teamwork in a team.

However, keeping multiple teams on the same track consistently is no easy task.

The product marketing team must be the bridge between sales, marketing, methods, and development.

With so many elements in a team working on a single project, it is easy to miscommunicate and disorganize which will derail the progress of your Product Marketing Strategy.

Make product plans and roadmaps so that all parties involved in the team can work in rhythm and synergize.

The product roadmap provides a summary of the entire product marketing plan and guides the team on what to do and the results at each step of the process.

Promotion

Having a solid product and a solid strategy is not the end of your job.

You can’t expect customers to flock to your product if they don’t know anything about your product.

Therefore, you need to convey the news through strategic promotion.

Your promotional plan should elaborate and deliver your product message to customers promptly.

If you’ve done your research and built your buyer persona, you should have no problem identifying your target customers.

Timing …

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Contribution Margin Benefits to Marketing Strategy

November 18, 2015August 1, 2022 Rihanna

Marketing Strategy Maybe you’ve heard the old saying: “Our sales volume goes up, but why don’t we make a profit?”. The main cause is most likely the ineffectiveness of the business’s marketing strategy and efforts. A business or company that experiences such a thing may not knowingly invest its money in a wasted marketing effort. But more to their ignorance of how to take advantage of effective marketing efforts. One way for your business marketing strategy or effort to be effective is to take advantage of the Contribution Margin.

Not only as a Financial Statement Analysis tool but the Contribution Margin concept can also be effectively used in business marketing strategies. By utilizing the Contribution Margin concept appropriately, you can be sure that this adage will not be experienced by your business.

Overview of Contribution Margin

The contribution Margin is the difference between the revenue you generate from sales and the variable costs of your business. And the difference is used as an indicator of your business’s ability to cover fixed costs.

Fixed costs are costs that the company pays to stay alive even if your company is carrying out production activities or not. While variable costs are costs that change depending on how much you sell your product. In particular, marketing costs can be included in the category of variable costs.

Contribution margin equals total revenue minus variable costs. So, if you made $5000 on sales and spent $1000 on variable costs to make it happen, your Contribution Margin would be $4,000.

This article focuses on how you can streamline your marketing costs, which include variable costs. Because marketing efficiency can be a determining factor in whether your company is in a “green” or “red” state.

How to Increase Your Business Contribution Margin?

Regarding the previous explanation, it is clear that a high Contribution Margin is a key to the success of marketing strategies and efforts. But how can you improve it?

The key is to identify which aspects are contributing and which are not in your business marketing strategy and efforts. Get rid of things that don’t contribute to your marketing strategy. And your Contribution Margin will increase.

For example, you are running an SEO (Search Engine Optimization ) marketing strategy. And you may be wasting 76% of your budget to produce articles with keywords that will not lead to your business sales.

Simply cut a percentage of your budget towards an SEO strategy and redirect articles created with more effective keywords. Then you can dramatically increase your Contribution Margin without increasing your marketing spend.

Once you know how to increase your marketing Contribution Margin to 5x or better, your marketing efforts will become the “growth engine” for your company.

While not every business can achieve great results, achieving a Contribution Margin of 5x makes sense for most marketing efforts. You only need time, effort, and precision.

Conclusion

There are many more ways to calculate Contribution Margin related to your marketing strategy and efforts. In this article, we only provide an overview and basic knowledge of how vital the Contribution Margin value is to a business marketing strategy. And finding the Contribution Margin value takes extra time and effort. But if you can do it, you can break the adage mentioned at the beginning of this article. And you will take your company or business to an amazing development.

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Easy Steps to Build Your Business Brand Equity

August 1, 2015July 30, 2022 Rihanna

Brand Equity is all the value that your business puts into a business brand of your products. Brand Equity is also about how your business makes customers judge a brand of your business product to make it look different from other similar products on the market.

With good Brand Equity, your product will create a value that goes beyond the price of a product: customer loyalty.

It will also motivate customers to help launch your business’s Word of Mouth strategy.

Building Brand Equity is not as simple as you might think. It takes effort and high consistency to build it.

But don’t worry, here are four steps your business can take to build Brand Equity :

Build Brand Identity

This is the basic step to building your Brand Equity. The definition of identity itself has a broad meaning.

And make sure the identity matches the target customers you expect.

Of course, identity is also represented directly in your business brand name.

Make sure customers understand and recognize the brand according to the point of view and identity that you incorporate into your brand.

Communicate What Value Your Business Brand Contains

Know what value is contained in the brand that your business builds in terms of “performance” and “image”. Performance describes a measure of how well your product meets customer needs.

While the image refers to the social and psychological aspects contained in a brand.

For example, a company or business that is truly committed to being environmentally responsible will build customer loyalty and attract employees who interpret and support these values (the environment).

You can develop greater brand meaning through your business marketing efforts.

Change How Customers Perceive Your Brand

Customers respond to your brand through their justifications and feelings – more subjective.

These customer ratings are closely related to things like quality, credibility, how well your product matches customer needs, and whether your brand is superior to your competitors.

Try to have your brand create positive things that include warmth, joy, security, and increased self-esteem when customers come into direct contact with your brand.

Build Deep Bonds With Customers

This is the most difficult step compared to the previous steps. If your business successfully reaches this step, it means that your customers have formed a deep psychological bond with your brand.

They will not hesitate to make continuous purchases and they will feel an attachment to your brand or product.

You just have to wait for the results of the word-of-mouth marketing efforts made by customers and you can be sure your customers will increase significantly.

It takes patience to build Brand Equity to the fullest. But know, that your (marketing) efforts will not betray the results you will get.

Of course, you also should not forget the effort to build an accounting system for your business.

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Steps to Build Product Branding to Be Known

February 17, 2011July 29, 2022 Rihanna

Here are some ways that you can use to build your product branding so that it is easily recognizable. What brand of watch are you currently wearing; Rolex, Seiko, Philips, Willian 1985, Casio, or another brand that is not yet well known?

If it was given free of charge would you prefer to wear a watch with the Rolex brand or another, not a well-known brand? Everyone will certainly answer to choosing to use Rolex brand watches. Yes, it is a natural thing, considering that Rolex is a well-known brand.

Branding is everything related to the company, products, services, and everything related to company.

This is what you have to strive for so that your brand is known to many people. So people always remember your brand when they need something.

Unfortunately building a brand so that it can be known by many people is not easy. But that doesn’t mean it’s difficult.

The reason is that for a brand to be well known to the public, it takes quite a long time. In addition, you also need to do something to reach potential customers effectively.

Creating Ads For Build Product Branding

Advertising is an effective way to do branding so that your product is known to many people. For large companies, creating and placing ads is easy.

However, for small companies or SMEs, it may be a burden because they have to add a fairly high marketing cost.

But don’t worry, now you can take advantage of digital advertising. Digital advertising has a fairly affordable cost and some are even free.

So that marketing costs can be kept to a minimum. Digital advertising also has a potential market share because as we know that social media users are increasing day by day, it is estimated that the number exceeds 3 billion people.

Of course, this is an efficient and effective thing to increase your product branding so that it is known to many people.

Participate in Events, Exhibitions, or Bazaars

In addition to creating and placing advertisements. You can also participate in activities such as exhibitions or bazaars to make the brand of your product known.

Choose and customize the exhibition or bazaar to be followed by your line of business.

For example, if your business is in the field of Muslim clothing, then you can take part in exhibitions or bazaars such as the Islamic fair, or for example, your business field is in food. Then you can take part in a kind of archipelago culinary festival and other examples.

In the activity there will be a stand, you can choose a strategic stand and decorate it attractively, of course, try to match your product brand.

Thus, visitors will be interested and the popularity of the brand or product becomes famous.

Provide Added Value Besides Selling Products

In shaping the image of a brand, it’s good if the content created can build a relationship between consumers and your business.

That is, don’t just create content that contains products and buy and sell products. But also contain educational values or other values that can increase the positive image of your brand.

For example, sometimes you can share posts that have religious value, advice, encouraging quotes, and so on. This will make the relationship stronger and longer.

Take a Consumer-Centric Point of View

Your sales are a result of consumer needs so that consumers are looking for your brand or brand and then take a consumer-centric point of view.

Understand the needs and wants of consumers where consumers can make your brand number 1 in their minds. In addition, you can also provide good service socially.

Because according to the Aberdeen Group, businesses that provide social services have greater business growth than businesses that do not implement social services.

Remember that there are many competitors in the market so you have to win the hearts of consumers.

It will be very easy for consumers to choose a brand other than your brand. Therefore change your view from producer centric to consumer-centric.

The branding process is not an instant thing but if you do it seriously the impact is so big that is brand awareness where your product brand becomes known to the public and your business becomes more successful.

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Get to know the Price Flexibility Strategy and its Types

October 18, 2009July 29, 2022 Rihanna

As you know, to buy a product, consumers will usually look at the price. While flexible is a trait that relates to the position of a situation. So, in simple terms, a price flexibility strategy is in a situation.

Pricing flexibility strategies can be used to price different goods or products in different markets based on geography, delivery time, and product complexity.

Types of Price Flexibility Strategies

There are two types of pricing flexibility strategies, namely the one-price strategy and the flexible pricing strategy. Here’s the explanation:

One Price Strategy

The one-price strategy is also known as the single-price strategy. In this strategy, the company charges the same price for every purchase of the same quantity and quality. In addition, market conditions that occur are also the same.

Usually, companies that use this strategy are companies with very large sales and distributions.

The purpose of this strategy is to gain goodwill and make it easier for companies to set prices. However, to implement this strategy, the company must meet the following requirements:

There is a detailed analysis of the company’s position and cost structure compared to the industry as a whole.
There is information related to price variability at the same price offered to each consumer.
There is an understanding of the economies of scale available to the company.
There is information about competitive prices, namely prices that consumers can pay.

Flexible Pricing Strategy

In contrast to the single strategy, this strategy sets a different price for each customer with the same product quality.

The purpose of this strategy is to maximize long-term profits and provide flexibility by allowing for adjustments, both increases, and decreases in prices.

The price adjustment also depends on the level of competition faced, the relationship between the customer and the company, and the willingness of consumers to pay. As with single prices, to set a flexible pricing strategy there are also conditions that must be met by the company, such as:

Perform customer-value analysis of the product.
Have the information needed to implement a flexible pricing strategy. To implement, usually by choosing one method based on the market or geographical location, the product to be offered, timing, or based on technology.
The emphasis is greater on profit margins than on sales volume.
Monitoring of competitor relationships, and price changes that have occurred in the past.

This is an explanation of the price flexibility strategy. To make it easier for you to calculate and manage all costs incurred, you can use the help of accounting software such as Journals.

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