Every business in Thailand, regardless of the type and size, is interested in increasing marketing effectiveness. However, establishing a campaign strategy in this millennial age that will launch every business to the next level involves more than just running some ads and unsolicited calling a list of possible clients – it is a process that requires research to discover who the target market is, what motivates customers’ purchase, and how the company fits in the marketplace. The data gathered drives sales and marketing strategy, and with the right execution of the plan, growth and profitability in the business are predictable.
A lead-nurturing marketing strategy will help entrepreneurs guide their marketing campaign and convert leads to potential clients while reducing the risks of high customer acquisition costs. That means whether entrepreneurs are expanding or starting a company in Thailand, by implementing sales and marketing strategy correctly, they will be able to successfully grow their online presence, and most importantly, foster more conversions and purchases.
However, no matter how feasible the plan is, achieving an effective campaign still requires expertise, effort, and consistency. If these three don’t exist in a company, then an entrepreneur must seek help from business startup specialists in Thailand that could develop and implement an effective marketing strategy. So, whether business people develop strategies internally or externally, these tips will help them ensure that it is both effective and efficient:
Determine the Target Market
One of the most crucial factors in strategic business planning is to know who the target audience is. A marketer should adhere to this basic principle to form a strategy. After determining the potential customers, marketers should list down their expectations. Asking the right questions is the key to understanding consumers’ behavior in the marketplace. Know and understand what customers want and need. By researching and gathering the data, entrepreneurs will have a clear idea of their clients’ preferences, their buying process, how the business is perceived, and the benefits customers receive from engaging with the brand. With this gathered information, it can dramatically reduce the risks and lead to a much better marketing campaign.
Develop and Document the Plan
To achieve an effective marketing campaign, marketers should constantly revisit or reevaluate the techniques or strategies while having a clearly outlined plan in place based on the surveys or conditions that were established. Regular monitoring of the plan can help reduce the risk of any miscommunications and misunderstandings with the sellers or staff. Moreover, entrepreneurs or marketers should also share the outlined plan with the team so their employees will know their roles and what they’re expected to bring to the table. This may seem a simple task, but it will certainly save the team from wasting time and money.
Make It Personal
Marketing is all about personalization. To acquire and retain loyal clients and keep them engaged, personalized one-to-one marketing is a requirement. Today, millennials, in particular, despite massive shifts and advances in technology, people are still looking for that emotional connection to a brand, which can result in brand loyalty. When they feel that attachment, these customers will then later help advertise the brand through word-of-mouth referrals and online reviews. Marketers or entrepreneurs should invest in personalizing their brand since it counts a great deal in marketing and communication.
Assess Current Resources
Having an impressive marketing strategy is useless when marketers don’t have the right resources to successfully execute the plan. Always consider what talents are already on board. Is the small business plan possible and practical? What level of training and knowledge does the team need? Does the marketing staff understand foreign investment in Thailand and the services the brand or business offers? When the business doesn’t have these crucial factors, then the strategies are incompetent or simply not attainable because they are not based on reality.
Select the Right Communication Channels
Determining the right medium to connect with the target audience should be part of the marketing and small business plan. Fortunately, marketers now have a wide range of communication channels to choose from. Again, entrepreneurs must determine their target market and select the tools that they most likely to engage with. For instance, if the potential customers have embraced social media, then utilize social media platforms such as Facebook, Instagram, LinkedIn, and Twitter. But there’s a caveat, marketers should select the right communication tools that will accommodate customers’ needs not simply because they are trendy.
Bring in New Ideas
Marketing is an intricate field that involves a variety of strategies to establish a brand presence, engage potential clients, and earn more sales as a result. Every entrepreneur should know that he or she needs a team of marketers who can help the business grow as it leverages its collective resources. Keep in mind that the team should be the brand’s biggest champions and advocates. To successfully develop an effective strategy, entrepreneurs should not hesitate to ask any suggestions from sales or product managers, or even from a business consultant in Thailand.
Technological advances enable businesses to work more efficiently in different ways. Whether that means collaborating with remote employees using a video-conferencing platform or messaging clients to request an online review, technology allows businesses to effectively reach their goals. However, it can also be difficult to keep up with the latest technologies, especially if entrepreneurs are not a natural tech-head. That is why they should choose the right technology or ask an experienced startup specialist that could help with their business’ daily operations.
Start Collaborating With Influencers
The favorable side about collaborating with influencers is that the audience is already there. All entrepreneurs or marketers need to do is to build a good partnership where both parties are collaborating in providing their audience with entertaining and informative content. Content-wise, most influencers are impressive content creators. They value authenticity and creativity. Influencers have a creative way to promote a brand while making sure that the content doesn’t look too promotional. They make contents that can provide meaning or benefit to their audiences through tutorials, product reviews, or something that mentions a brand.
Influencers can also help businesses when it comes to driving traffic, boosting clients’ engagements, and increasing sales. While many influencers allow entrepreneurs to tap into millions of followers, there are also smaller ones that can help entrepreneurs drive more valuable engagement.
There are a lot of powerful reasons why entrepreneurs should create an effective marketing strategy. To have a renowned brand identity and recognition, every business-minded person should have a clear road map on how to organize it, which involves a strong marketing strategy that covers all the important steps in achieving the main objectives of the business.
A marketing strategy affects the way entrepreneurs run the entire business. Creating a simple sales and marketing plan is something entrepreneurs, especially those who are starting a company in Thailand, should have to guide their efforts and keep them focused on their business goals. Again, an impressive and competent campaign starts with a considered, well-informed, marketing plan. A good strategy helps entrepreneurs define their business’ vision and mission, goals and lay out the steps they need to achieve quality ROI. Also, when every single action of the business is planned, entrepreneurs have a better understanding of where their business is and where it needs to be.
Source: Asian Correspondent
In today’s corporate landscape, organizations grow and succeed for a multitude of reasons. Some are recognized for their services while others are acknowledged for their products. There are also a few that are known for their memorable ad campaigns or strong social media following.
Companies who are successful are clearly considered leaders in their respective industries. But if you look and observe closely at what they all have in common, you’d know that they welcome innovation.
Why Innovation is Important for your Organization
Entrepreneurs are familiar with the phrase “adapt or die”. This holds true since there’s always an increasing need for developments and change. Organizations cannot just be stagnant. With the ongoing technological advancements, it’s necessary to expand. Customer demands change from time to time and if entrepreneurs encourage innovation amongst team members, they’d have a sizable advantage and find ways to serve customers better.
If there isn’t anything new in the company, there’s no growth. And if business leaders aren’t coming up with new ways and processes, their brand will not stay long in the market.
To innovate, you don’t have to do something that’s considered a breakthrough. It can be as simple as making changes in your day-to-day operations. You can start by improving sales & marketing strategies, enhancing your business model, and making adjustments in the way you deliver your products or services. It can also mean taking advantage of consulting business opportunities and working with local business consultants to guide you and your team.
When you incorporate innovation in your business strategies, you create a culture where people are encouraged to think creatively and challenge the status quo. You increase the chances of your company succeeding, develop more effective and streamlined processes, and boost productivity and performance.
Benefits of Innovation in your Organization
Cultivating innovation is key for employee retention. If you don’t inspire your team to innovate, they’re likely to transfer to your competitors. Your employees want to make an impact so encourage two-way discussions for ideas to be shared and considered. In this way, you leverage their skills, make continuous improvement, encourage collaboration, and build a solid and creative team. Good ideas don’t often come from you as they can also come from your team. So, make it a point to encourage your people to share and experiment with their ideas.
When it comes to daily operations, switch things up a bit. Assign your employees to tasks that are outside their comfort zones. If you always apply the usual operational role to your team, they would be stuck in a rut. It’ll be hard for them to elevate and get their creative juices flowing.
When you innovate, you assign, monitor and prioritize tasks. You utilize tools and platforms that help in boosting the team’s productivity and at the same time, meet their specific demands. As your team’s growing needs change, so does the need for platforms to be updated. Providing the right tools increases productivity and assists your team in the long run.
Innovation differentiates your company from the rest of the crowd. While your primary concern is to deliver value, it’s also important to remember that delivering something that’s different from everyone else can be an exceptional element of your brand and business methods.
Stay ahead of the game and keep your competitors at bay. Update your products to the point that they are a cut above the rest. Make sure that what you’re innovating provides a competitive advantage over other companies.
Staying ahead of the competition also means coming up with ways to better connect with your customers, and knowing the right marketing techniques that will enhance customer experience.
Keep in mind not to simply do what your competitors do in order to be “innovative.” You can always get an idea of their strategies, but it’s important to let your creativity guide you so your customers will take notice and choose you among the competition. This is done by observing the industry and finding out if there’s a void to be filled. Then, come up with ways to offer that “need” and work on it.
Technology continues to be a factor in the area of business. In the last couple of years, thousands of websites were created and hundreds of apps were launched. People have availed of new cell phone models as well. Hence, there’s a need for your company to keep up with the fast-paced technological development. If you’re running a start-up business, come up with ways to innovate and evolve. Innovation is your best move to break into an industry, fight off competition, and stay relevant in the years to come.
When you innovate, you are always looking out for ways to eliminate waste which can bring about many advantages — boosting competitiveness, minimizing costs, a new and improved customer service, and better profit margins.
Knowing the benefits of innovation is only the first step. Your organization must regularly incorporate innovation in your daily operations. The most effective way is to acknowledge that you’re not the only one who has ideas. Recognize the fact that your team has recommendations and they want their ideas to be heard. Inspire your employees to continually innovate, encourage collaboration, and set aside time to discuss their ideas. This will make them feel appreciated and valued. They will also feel comfortable in trying new things knowing that their ideas are accepted and discussed, and that they won’t face disparaging remarks for failures and mistakes.
With so much digitisation taking place and many business opportunities in Thailand, now is the time to take your business further. Start-up specialists are ready to engage and work with you — from the creation of a small business plan to the launching of your business. They will help you cope with technological changes, identify key challenges in your operations, and aid you in finding ways to innovate.
The post Why Innovation is Essential in your Day-to-Day Business Operations appeared first on StartUp in Thailand.
Source: Asian Correspondent
Whether you have a start-up business or have been running your business for a while, you know how challenging it can be to win new clients. You can allocate time and money promoting your products to customers in order to get one sale, depending on your industry. But even if a first-time buyer makes a purchase, there’s no guarantee when that person will make another purchase.
The huge chunk of your customer base who frequently avails your products or services could be your business’ biggest asset. When you modify your sales & marketing strategies, you gain potential buyers, cultivate repeat consumers and reap rewards.
Here are ways to build long-term relationships with your customers, fuel a sense of lifelong loyalty in them and improve your bottom line.
Harness Your Communication Skills.
Whether it’ll be our personal lives or work, communication is the core of every good relationship. So when it comes to dealing with customers, communicate with them in a way that they’re treated like human beings, not as wallets. If you don’t treat your peers like a bunch of purses and wallets, don’t do the same to your customers.
Always provide value when dealing with consumers by sending out insightful blog articles and emails every month. In this way, you’re giving them a wide view on what your company is all about. You’re also not asking for anything in return.
Additionally, assign a staff who will answer to customers on social media. Engage with your customers and see to it that there are no questions left unanswered. You’re not only helpful and authentic but you’re also actively communicating with them. When it comes to building trust and customer loyalty, excellent communication will definitely go a long way.
Make customers feel valued and appreciated by encouraging feedback. Be open to every customer feedback even if it includes a negative one. It is crucial to relationship-building and also serves as free advice to better your company.
Start by including an email survey for every order a customer receives. Keep it short and simple so customers can easily fill it out. If they have clarifications, reach out to them immediately. Moreover, encourage customers to leave you a comment on Google or Yelp. Check the reviews, make sure you acknowledge the comments and reply in a timely manner.
Respond to Customer Complaints Professionally.
Customers will encounter problems from time to time. When they are in need of assistance, it’s essential to provide outstanding service regardless of how many times they have availed your products or services.
Be sure to track online mentions of your business, especially customer complaints mentioned on review sites or social media. Don’t scare off potential buyers by letting them see those complaints unaddressed. Remember to use a friendly tone when addressing complaints. Listen, pay attention to what your customers are saying and respond professionally. You can be misinterpreted when you don’t use the right tone of voice. You can easily lose customers when you sound tense and defensive or when they feel like the situation is not under control.
Collect Customer Data.
Do you have your customer’s purchase information? Tracking customer data is essential. This lets you analyze trends and study customer behavior so you can deliver the right products or services.
If you have the tendency to store customer data in social media IMS, you’ll be an easy target for competitors. With this, investing in a customer relationship management (CRM) platform is the first step to storing customer information safely. This will assist you in knowing what customers purchase, how often they visit your site and when they buy. This will also aid you in knowing which buyers to convert and be familiar with repeat buyers, the products they purchase and the average value of their purchases.
Go The Extra Mile.
Customers expect more than just what you can offer. They want an outstanding experience with every purchase they make. You can always personalize your marketing, but you need to back up your claims.
Impress your customers and go the extra mile. If you have repeat clients, send them postcards or little gifts as tokens of gratitude. Providing unexpected delights like sending bonus items, offering discounts or sending complimentary gifts will get them excited for their next purchase. It’s the little things that will encourage customers to continue doing business with you. A solid experience will not only boost your sales but also gain repeat customers in the long run.
Innovative Loyalty Programs.
One of the best ways to retain customers is to offer loyalty programs. This is done through earning points for every purchase which can be exchanged for goods. Once you have started incorporating this into your marketing strategies, make sure you fine-tune your process as you go along.
You could kick off with a $30 reward to consumers who refer a friend. You could also offer free gifts to consumers who spend a minimum amount. If you’re launching a new product, invite your best customers to a preview evening so they can avail the products first before anyone else. Remember to keep the event as exclusive as possible — include food and refreshments and let attendees have time to connect with each other. Lastly, treat your top customers to a day out on a particular holiday. They will definitely look forward to this unique activity.
A Memorable In-Person Event.
An online shopping experience is great, but interacting with a company in person is unparalleled. Customers will be happy to see and experience your products live. They’d be delighted to meet your team and will feel a stronger connection with you.
Find a way for customers to experience your brand in person. You can host events like VIP dinners, round tables with executives, gamification, or a charitable event. There’s absolutely nothing like an in-person event, interacting with customers and letting them have a good time. This will leave a better impression of your company and will drive loyalty, engagement and profit. Customers love being appreciated, educated and being asked for feedback, and the best way to do that is to have a memorable and engaging in-person event.
When it comes to establishing customer relationships, customer retention should remain a top priority. Keep in mind that it’s more cost-effective to sell to top customers than to attract new ones first and sell to them. Attracting new sets of buyers is more challenging and requires more effort than retaining top buyers. If you manage customer relationships appropriately, not only will customers keep availing your products or services but also make larger purchases in the future. Having loyal customers is a result of authentic interactions and when you’re consistent, you will never have to worry about losing to competitors.
Boost your overall business performance and build a robust and long-term customer relationship with strategic business planning and implementing solid marketing decisions. If you’re planning to open a start-up business in Thailand, work with a start-up consultancy services for a smooth business process. Thailand has remained one of the most prosperous countries in Asia to run a business. It has a business-friendly environment, stable economy, strategic location, and has continually welcomed foreign entrepreneurs. Partner with a local business consultant so you can grow your business and invest in solid customer relationships.
The post 7 Ways to Build Long-Term Connections with Your Customers appeared first on StartUp in Thailand.
Source: Asian Correspondent