9 Mistakes lead to failure when starting a business

In the process of starting a business, it is difficult to foresee the risks in your startup process so the way to avoid making mistakes is to learn from the failures of others, here are 9 possible causes. makes your business more likely to fail when it starts.

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1. Starting a business when not good enough

Good here is a general assessment of the basic skills needed of a leader such as negotiation skills, leadership skills, sales skills, … Good people fail, let alone young Not good, don’t dream about success.

2. Starting a business alone

No matter how good you are, you cannot build your own castle by yourself. The daily time is only 24 hours, even if you are so good that the earthquake will not exceed the limits of time and health.

3. Starting a business without enough experience

If you do not understand thoroughly the issues related to your business, it is very dangerous: trading is real money, wrong is losing money is synonymous with bankruptcy. These related issues such as law, accounting, capturing distribution processes, advertising channels, building relationships to support business … Find yourself a lighthouse, a person to go first in the same field to learn.

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4. Select inappropriate products and services

Choosing a service product for a whole new business is the smartest. Of course, the element of passion and talent is an important factor to choose but not necessarily the final decision. Sometimes we are forced to do the things we don’t like in order to succeed in our career.

5. Starting a business without market research or product research

Trading any product can become a millionaire, and vice versa, even small products worth several hundred dong are enough for you to bankrupt. Beginners often have subjective and unconscious statements about the products and services they intend to do business. Your friend may be more profitable than other low-end retailers and dealers but surely he can eat large-scale manufacturers.

6. Selecting a inappropriate companion

Certainly you have witnessed many companies disbanded because they co-founded their disagreements … When they first started, everyone was enthusiastic, but if not fai is the right people for you, the conflict directly affects. to the business model is obvious.

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7. Operating without a process

This even businesses are sticky, not to say the start-ups. When working without a process, everything is disturbed, takes a lot of time and it will take you away and can not do anything else. Learn the processes, models of market-leading competitors or simply better competitors to learn and improve the processes.

8. Operation without vision

When your model is only 5 – 10 people simple, but if there are many customers your apparatus bulges 30 people, then without vision and long-term strategies, then you will In the first situation is not great, In order for a product or service to survive, we must be important to the construction and development.

9. Weak internal discipline

A good apparatus is to have a good collective, the collective will be good when the sense of collective good. In a job without discipline things will not be perfect. Human nature has always been lazy and self-interested in it, not letting them into the framework that they would be reckless. Uninformed people can never do great work.

In short, there are many other reasons for failure to start a business related to your organs and external factors. Only start a business when you are ready, at the right time, should not try your best, not forced. … Consider starting a business as your life to take cautious steps!

Why You Should Add Humor To Your Content Marketing

For your business to stand out, you need to ensure that your messages reach people through an ocean of online content. A powerful way to make that happen is to add humor to your content.

What does humor in marketing do for your business?

A study by Fractl shows that the virality of content is correlated to extremely positive emotions or complex feelings. Humor is a positive emotion, and it’s safe to assume that adding humor to your messages sparks positive emotions that lead to shares.

It also humanizes your brand and makes you more relatable, which in turn can lead to people opening up to your marketing messages.

Humor can boost your content marketing, and we’re going to look at ways that you can make it a part of your marketing strategy to help meet your business goals.

Know your audience.

When adding humor to your content marketing, it’s essential to make sure that it’s appropriate and fits your audience. You need to do research and get to know who makes up your target audience. Consider these questions when charting your humor quotient in your communication:

  • What industry do you work in?
  • Is your customer a business-to-business entity or the everyday consumer?
  • Do ethical or medical concerns enter your business’s setup?
  • What does your customer avatar look like?

When you’re able to get an understanding of your market, you’ll be able to craft the right kind of humor. There’s quite a difference between using humor in insurance and getting attention from sports fans.

With research, you’ll be able to create a content plan or set up a style guide to keep your content voice consistent.

Use humor on social media.

If there’s any platform that’s appropriate for humor, it’s social media. People are on social media to be entertained and informed in a more casual manner. You’ll have plenty of opportunities to engage your audience with humor on social media platforms.

Take on a casual and conversational tone when responding to comments or replying to business queries from your audience. It will help them feel like they’re talking to a real person.

You also have the option of using “stories” features that are available on several platforms. Here, the content is primarily in video form, and they disappear in 24 hours.

Creating fun and short videos and image content is great for the social media format. You could feature funny ways to use your product or common industry complaints in a lighthearted way. Done well, it’s a way to create audience expectations where they’re looking forward to new content regularly.

Go beyond text.

What’s awesome about online communication today is that you’re not confined to using text to share your message. You can easily add lightness and humor to your online content by using gifs, emojis, stickers and more.

It’s said that pictures are worth a thousand words. And the right little emoji can transform the meaning of your words to make it more interesting. Make it a practice to add graphics to your usual social media communication. Your audience will relate to you better, and you’ll create emotions that work in a positive way toward boosting engagement.

Let humor infuse your content marketing.

The way to connect with your audience is to create an emotional spark when they view your content. And humor can act as the flint that fires up more engagement.

Make sure that you know your audience and what suits them. Then, make the effort to communicate with them using humor in your messages. Humor will help you create a brand identity that’s memorable and interesting.

Source: https://adage.com/article/industry-insights/why-you-should-add-humor-your-content-marketing/2257586

Five tips to unlock campaign measurement across TV and digital

With more screens than eyes to watch them, it’s no surprise that marketers are trying to figure out how to reach and measure their intended audiences across all of the devices they use, including TVs, computers, tablets and smartphones

Consistent TV and digital measurement has been a challenge that has eluded advertisers for years as they’ve tried to cobble together different metrics and methodologies into a unified framework. Today, however, there are new ways to connect the dots for marketers, so they can understand not only whom they are reaching but also where and how often. What follow are five tips to optimize measurement strategies across TV and digital to ensure that marketers are making the most of their ad spend and truly measuring what matters.

1. Use new tools to measure cross-platform audience reach and benefit from unprecedented insights

Traditionally, cross-platform measurement tools have been bedeviled by disconnected data silos, conflicting metrics, confusing interfaces and limited reach. New tools coming onto the market, however, offer marketers the ability to undertake people-based measurement and compare reach and frequency across channels, platforms and audiences. These new capabilities will be game-changers for marketers looking to measure on an apples-to-apples basis across TV and digital for a complete picture of their campaigns. By comparing foundational metrics across all channels, marketers can adjust their campaigns to maximize the impact of their marketing investments.

2. Turn the knob to adjust TV partners for the best return

Historically, a significant portion of ad spend is locked in for the year after upfronts. This year will be different, and most brands will have more flexibility to adjust their spend to focus on the TV partners and channels that show the best results. Using new tools that allow marketers to compare reach and frequency across both TV and digital channels, marketers can identify the networks that provide the best bang for the buck and adjust their spend accordingly. They can also find the smaller networks that have a high concentration of their relevant audience, so they can use TV’s “long tail” to increase their reach. By leveraging this data, marketers can ensure that their overall TV strategy — and tactical negotiations with broadcasters — are data-driven to achieve the best outcomes.

 

3. Compare spend across media channels to see which ones are most efficient at reaching relevant audience

Strategies that focus solely on aligning with the right demographic audience remains the (unfortunate) reality for many TV campaigns, and it’s time to broaden those traditional definitions of relevance to other audience characteristics that can help advertisers achieve their business goals.

Rather than focusing only on women ages 18–49, for example, marketers must push their partners to include first-party data on customers, past purchase behavior, interest segments and other relevant audiences for their brands. Once they’ve identified those relevant audiences, marketers should evaluate the reach and frequency of their campaigns to those custom audiences across every TV and digital channel so they can tell where they’re getting the best value for their investment. By focusing that analysis on their target audiences — based on demographics, purchase behavior and other criteria — marketers can ensure they’re achieving the most relevant reach for their campaigns.

4. Verify that ads are being viewed by real people

Marketers’ measurements are meaningless if they include bots, fraud or other ads that are never seen by real people. Fraud is an increasing challenge in the OTT/CTV environment, as criminals shift their illegal activities to capture the increased investment by advertisers. While linear TV ads reduce the risk of fraud, they still face challenges around viewer attention.

Marketers should ensure that their measurement tools use state-of-the-art technologies to evaluate their campaigns by incorporating important metrics around fraud, viewability and attention across all channels. Only then can they tell which channels are most effective at reaching real and relevant people, not bogus bots or invisible impressions.

5. Get a holistic view of reach and frequency across portfolios

When diversifying ad spend across a variety of channels, it’s important to gain an understanding of frequency across an entire campaign. This ensures that marketers have adequate touchpoints for their messages and helps avoid oversaturation and the wasted spend that comes with it. Frequency capping in a single channel has always been a powerful tool, but across channels it has not been consistent or comprehensive, so heavy users have often been vastly oversaturated with ads. For example, if three partners have varying frequency caps, one could end up exhausting a single message on the same person — not to mention wasting valuable dollars.

The holy grail of campaign measurement is people-based analysis across all channels of frequency and reach for each marketer’s intended audience. By using new tools that provide that unduplicated view across TV and digital, marketers are building new strategies and leveraging new tactics to reach that goal.

Source: https://digiday.com/sponsored/five-tips-to-unlock-campaign-measurement-across-tv-and-digital/

5 Things You Can Do Right Now to Prepare for the Post-Coronavirus Business World

Social distancing. Telemedicine. Self-quarantine. These are all words that at the start of 2020 weren’t part of our vocabulary, but several months into the new decade we are all hearing and using them daily. There is no denying that the coronavirus outbreak has dramatically changed just about every facet of just about every person’s life around the world.

From a business perspective, the stock market saw its largest one day loss and largest one day gain in history. The U.S. saw the largest job-loss report ever. We are in uncharted waters, and how long we will remain in them remains uncertain. However, there is one thing that we all know, and that is that this outbreak will change the lives of everyone for years or decades to come. Nearly 20 years after 9/11, enhanced airport security, no-fly lists and counterterrorism efforts are still the norm. The same will be true of the COVID-19 aftermath. Is your business ready for the five largest macro trends we are about to see?

1. The rise of enhanced websites and digital tools

Many nonessential businesses — including things like retail stores, hair salons, warehouses, factories and offices — had their brick-and-mortar locations offices closed and did not have the technical tools to survive with their physical locations shut down.

Our agency has seen a tremendous increase in businesses reaching out to us ready to make the leap into digital. It’s critical for businesses to be able to not just survive but thrive through enhanced websites and digital tools to serve their customers. Things like e-commerce in industries that never utilized e-commerce before, advanced product configurations, chatbots and mobile applications are in greater demand than ever as small- and medium-size businesses join in the new decade’s technology revolution.

These new tools are helping businesses stay afloat during the virus outbreak and will be a macro-trend that becomes even more important as social distancing becomes commonplace practice — not just for this outbreak but for potential future outbreaks as well.

2. Cybersecurity concerns take center stage

Cybersecurity is already an important topic to large businesses, and with the EU’s General Data Protection Regulation, California’s Consumer Privacy Act and other privacy laws, as well as countless news stories about the cost and impact of data breaches, it is something smaller businesses are being forced to confront head on. With the surge in employees working remotely during the virus outbreak, we have seen more and more data breaches and cyberattacks.

Employees using unsecured infrastructure and third-party tools are two of the leading causes of potential breaches. Combine this with data storage and access practices that violate privacy laws — for example, telemedicine on non-HIPAA-compliant platforms — and suddenly the need for secure solutions takes center stage.

Additionally, during this vulnerable time, we have seen an increase in overseas cyberattacks on many of our clients’ websites. Things like brute force attacks, denial of service attacks and other types of attempted hacks have increased, and the need for keeping website and web servers updated and secure is of utmost importance. More businesses will be forced to invest in technology that is secure, scalable, accessibly remotely and follows the onslaught of new data privacy and security regulations.

 

3. An increase in virtual meetings

The tremendous increase in virtual meetings is a trend we predict will be here to stay. Though there is no substitute for a face-to-face meeting and handshake, for the next few years we anticipate the trend of virtual meetings to continue. And this won’t just apply to the traditional business world, it will apply to many other aspects of our lives — for example, virtually meeting with your doctor, therapist, banker and even hair stylist for a consultation. This will be a tremendous cost and time savings to all parties involved. This is a trend that already started prior to the virus outbreak and will only become more amplified as we continue in this new decade. Preparing for this trend goes far beyond having a virtual meeting space and software. Things like digital brochures, digital business cards, tutorial videos and enhanced website information will all follow in this trend and become necessities as businesses find it more difficult to physically hand materials to their customers.

4. Increased control in expenses

With the unprecedented business shutdown across America, businesses will be increasingly looking at ways to have a greater degree of control over their expenses. These will include businesses requesting shorter contract durations, emergency clauses and provisions in agreements, ways to have a more easily scalable workforce utilizing temporary workers and temporary agencies, and an overall desire to lower expenses, especially recurring expenses.

We have witnessed firsthand nearly every client of ours express the need to reduce expenses, not just as a result of the virus but also as a practice they want to continue into the near future. While this is a good business practice regardless, the pain felt during this economic downturn will create scars that will likely last years into the future.

Make sure your business has answers when your customers ask for ways they can be saving, reducing contract terms or protecting their business from future disasters and catastrophes.

5. Even more remote employees

 

Lastly, with the previous four trends is going to come the fifth — an even larger shift to remote employees. Many businesses that fought the trend of employees working remote are now realizing that in being forced to shut down their offices, remote employees are still efficient, effective, economical, and something millennials and Generation Z demand.

With more remote employees comes the increased need for all of the first four points mentioned. This trend is something that started over a decade ago, but it will continue to be amplified in this new decade and following the COVID-19 outbreak.

These trends will be relevant not just in 2020, but likely well beyond. Making decisions and positioning your company now for these changes in the business world will make sure your business is ready and at the forefront of the new remote, digital technology revolution.

Source: https://www.entrepreneur.com/article/348272

 

 

                                                         

Marketers still struggle to build a unified source of data

Without a unified record of their data, marketers often lack a holistic view of their investments, real-time insights and alignment across teams.

Marketing organizations are being tested like never before. Many businesses are being forced to reconsider every aspect of their business model, pushing marketers to realign their strategies while in motion. All the while, marketing organizations, and the marketing operations teams who support them, are trying to get a handle on their data to avoid making disastrous moves.

“We know that our world oscillates from periods of certainty to periods of uncertainty — marketers need to be able to navigate both sides of this coin,” said Emily Hoffman, product marketing manager for Datorama. She and Datorama client Josh Alvernia, CEO of the marketing services company Clue, joined up for a  presentation during Discover MarTech last month to dig into the challenges marketers face when it comes to managing and implementing data — and the need, especially now, to tie together your data with so much uncertainty around business strategies.

Marketers ongoing battle with data

When it comes to actionable data, Hoffman says marketers are up against three fundamental challenges.

“The first one is a lack of a unified view across all of the marketing investments they’re making, their performance and their results,” said Hoffman, “Second is a lack of real-time insights to be able to optimize ROI and results in real-time.”

The third challenge: Lack of alignment and governance in order to drive cooperation across teams, regions and stakeholders. Before COVID-19, these challenges were already pronounced, but now they are more pressing than ever as businesses are trying to make massive shifts in strategy without having a clear view of their investments, performance and ROI.

“As a result, marketers are struggling to answer some critical business-driving questions,” said Hoffman, citing questions like which programs should be cut and which should be maintained or what messages are best resonating with audiences at the moment.

“These are the questions that are becoming more and more critical in times of uncertainty,” said Hoffman.

Too many data silos

The challenges outlined by Hoffman are often the result of disparate and siloed systems across not only the marketing organization, but businesses at large. Marketing efforts are spread across various channels — paid ads, social, email, etc. — without the technology or resources to effectively tie together the data from multichannel campaigns. Meanwhile, teams managing various data sets are just as divided with marketing, business intelligence, customer service groups and more all working within their individual silos.

“Marketers really need a transparent and holistic view to see what campaigns are most effective, how their content and offers are performing and how to understand all of their engagement,” said Hoffman, “And then, on the other side, transparency across teams is equally as important because it allows stakeholders to align and to ensure that every everyone is striving toward a shared goal.”

A Forrester report from last year backs up Hoffman’s claims, finding that marketing and business intelligence teams were often too siloed to maintain effective communication patterns, even though they relied on each other for day-to-day operations. (More recent research from Forrester found that less than 40% of customer experience executives even knew where all of their customer data was stored.) 

Stitching everything together

To get a handle on your marketing analytics, you have to take the effort to “de-silo” the data. Clue CEO Josh Alvernia says this is the thing his company does when working with clients.

“This is usually a pretty daunting task for marketers who are unfamiliar with this process because they have so many platforms,” said Alvernia, who noted his company sees marketers managing, on average, 24 different marketing platforms. “What we try to do is break it down into something that’ s a little more digestible.”

Alvernia used the following example to illustrate how his team distills data at the campaign level to be more digestible.

“You’re going to have to go through a process even when you’re running a single campaign. You make decisions about what needs to happen from the campaign. You make assumptions about which channels are going to provide it to you. You take actions on those assumptions, and then you look at the outcomes to continue the process again.”

He said by characterizing data sets into these three categories — campaign objectives, channel implementation and outcomes — marketers can more easily exclude data that may overlap, while focusing on data that is vital.

“Once everything is one place, we then need to tie it together — that’s the process of data modeling,” said Alvernia.

According to the CEO, data modeling is a combination of a product and a process. “A product because you are programming intelligence software to understand ‘when I receive a piece of data, where am I supposed to put it and what am I supposed to do with it’ — it’s also a process in that it is a manual naming convention that you’re going to apply to very granular pieces as you traffic your campaigns.”

The benefit of applying data modeling to your campaigns — and at a much higher level to your overall strategies — is that you are stitching together your data in an effective way that delivers measurable business outcomes.

Trust the data

Alvernia emphasized how easy it is to get distracted by the influx of available data across platforms and channels. To build out data sets attached to actual goals, marketers need to have a solid grasp on the data that matters versus data that lacks any real insight.

“We focus on something called an impact matrix,” said Alvernia, “It’s the idea that not everything is as valuable as other things are.”

Once marketers are able to distill the data that will drive outcomes, then they can take action, prioritizing the platforms that have scale and are affordable. “The moment you find something good, and something that’s working, you want to double down on it.”

Most importantly, marketers have to trust the data. If the data proves an assumption wrong — no matter whose assumption it was — go with the data and lean into what’s working.

According to Alvernia, “You’ve only made a mistake when you’re not letting data show you a better way.”

Source: https://marketingland.com/marketers-still-struggle-to-build-a-unified-source-of-data-279529

Why B2B marketing automation, and Martech in general, are still key

As the customer experience bar keeps being raised, marketing automation can help brands differentiate themselves with relevant messaging.

Investments in marketing technology continue to be a priority for businesses across the board, as they strive to meet increased demands for personalization and a need to collect, authenticate and analyze rapidly increasing amounts of consumer data to improve the customer experience (CX).

Overall marketing budgets dipped slightly to 10.5% of company revenue in 2019 as compared to 2018, as CMOs and VPs of marketing operations continue to focus on ROI and efficiency, according to Gartner’s annual CMO Survey for 2019-2020. Still, optimism for 2020 was high at the time of the survey, with 88% of CMOs stating they believed the future impact of the global economic environment would be positive, with more than half (53%) believing the impact will be strong.

The advent of  COVID-19  wasn’t foreseen at the time of the survey, however, and it has already had a significant economic impact globally. That said, it remains to be seen how long the impact of the novel coronavirus will dominate headlines and mindshare, as containment or other factors could bring worry down to the level we see with the seasonal flu.

Digital marketing — which has the ability to reach remote workers and the self-quarantined — could benefit in the short term as people seek alternatives to in-person meetings and conferences. However, a general economic slowdown and continued uncertainty will certainly negatively impact businesses in general.

Martech still a budget priority

Though the proportion of the overall marketing budget going to marketing technology in 2019 slipped to 26%, as compared to 29% in 2019, martech continues to overshadow other areas of spending. Only media spending equaled martech investments, with labor costs (25%) and agency budgets (22%) attracting smaller amounts.

Global marketing automation spending is projected to reach $25.1 billion by 2023, up from $11.4 billion in 2017, representing an implied annual growth rate of 14%, according to Forrester’s Marketing Automation Technology Forecast, 2017-2023 (Global), published in April 2018.

Source: https://marketingland.com/why-b2b-marketing-automation-and-martech-in-general-are-still-key-279538

Control Over Social Media Assets Is More Important Than Ever

3 ways to avoid PR disasters and usage right fines

During times of uncertainty, social media can either drive powerful connections or cause tremendous downfalls for brands. The difference between a social strategy that wins with consumers and one that doesn’t is control and governance over all content. Because without control, how do you really know what’s in front of your consumers?

From the largest brands to up and coming startups, having visibility over what is on your social channels from a local, regional and global level will be critical in the coming weeks and months. Here are three things to be aware of.

Establish and maintain control

Over the next few months, it’s critical that you do everything in your power to ensure that no insensitive imagery or messaging goes to market. While social media typically takes a backseat to this kind of monitoring, it’s imperative that brand managers and approvers have visibility over all social assets as they pivot strategies to drive online engagement.

With marketing teams dispersed around the world, coordinating campaign launches has become even more challenging.   Utilizing platforms that can set up an approval process for all social posts but also unpublish content with the click of a button is key to avoiding insensitivity in the market and mitigating usage rights violation fines.

Steer clear of usage rights violations

Did you know that using unapproved or expired creative with talent can lead to lofty usage rights violation fines? Whether you did or didn’t, the next question is whether you have control of all of your assets and know what teams are using what content where.

To avoid usage rights fines and save valuable time, money and resources, centralize all of your social content on one platform. By consolidating your content into a  cloud-based asset management platform, all teams will have instant access to approved content. If you’ve set up workflow approvals, then you can rest peacefully knowing that all of the content on your brand’s social channels has gone through the proper approval process and that there won’t be any costly PR nightmares down the road.

Create coherence

Consistency is key but when using different systems, it’s easy for assets to end up in the wrong place or for the wrong assets to be used. With a  single library for all your cross-channel media, your marketing team will have visibility over approved, scheduled and published assets in a single dashboard view.

This provides total visibility and coherence and mitigates the possibility of negative backlash against your brand. By centralizing your platforms into one consolidated tech stack, marketing teams can thrive (from home). Cloud-based platforms will continue to drive productivity within marketing teams and allow for collaboration from the couch.

Source: https://www.adweek.com/sponsored/control-over-social-media-assets-is-more-important-than-ever/?mvt=o&mvn=d7a33950ec2648ae9aa83d91175b5b2e&mvp=NA-ADWEEKRESPSITE-11238673&mvl=homepage-grid-placement-large