There is no doubt about it. Having a well-thought-out, optimized marketing strategy that includes online, social, and mobile components is now an advantage. Why? Because this is where consumers are searching. Studies have shown that the average consumer will consult various sources before making a purchase – this alone gives entrepreneurs enough reason they need an effective online presence. However, in this era where digital technology and the internet have influenced how people lived and work, it is hard to believe that only a few startup business owners have a website. Entrepreneurs must know that a brand’s online presence can have a great impact on its growth and success.
Merely having a website could put entrepreneurs a step ahead of their competition. It offers a variety of benefits for startup businesses, and most of these can help increase in value exponentially as the years pass, just like the internet itself. So, there is no excuse for not having a website, even if entrepreneurs are only just starting a company in Thailand. Here are the reasons why launching a website is beneficial, especially for startup businesses:
Easy to Create
One of the many reasons why many entrepreneurs don’t have websites is that they think it’s hard to make one. However, entrepreneurs do not need to know computer code or HTML to make an impressive-looking website. There are web design companies that are a “one-stop-shop” that can handle all the technical details for their businesses. Nowadays, there are a lot of customizable website templates available online at a minimum cost or even for free.
Develop an Online Presence
Creating a website can help startup entrepreneurs with their online presence. When entrepreneurs have just begun managing a startup business in the retail industry in Thailand, they need to get as many customers as possible informed about their businesses. They need to let the people know that their company exists, what their brand is all about, what it is called, and how useful it can be for their target market. Having a quality website that speaks for a particular business will help entrepreneurs provide online visibility, as well as establish or enhance brand recognition.
Become an Information Resource
Building a website does not only create an opportunity to improve a business’s online presence but also its reputation. Keep in mind that people do their research before making a purchase. Entrepreneurs can utilize their website, creating a blog section with informative articles that take advantage of their experience. Later on, potential customers doing their research about a particular industry or any investment opportunity in Thailand will be more likely to find the website they have created – and after they read their blog articles, they’ll see how helpful entrepreneurs can be for them. Studies have shown that 61% of consumers reported a blog influenced their decision to make a purchase. Even if those who read these blog posts don’t become customers right away, entrepreneurs have already spread the name of their business without spending a dime on traditional advertising.
Another reason why startup businesses need to build a website is that they can interact with their customers whenever and from wherever. This could be through news updates, live chat, email conversations, or comments on the page. With a website, potential clients can easily access information about the business – what products or services are available for purchase, the prices, the location, and much more. And since a website is on 24/7, it’s easy to post updates and announcements, keeping customers up-to-date on everything. When something is particularly significant and useful to them, it increases the chance for entrepreneurs to be able to upsell them. Moreover, a website is a good platform to promote a business’ social media channels while building a community with the customers. Entrepreneurs can also offer their expert advice and prove their creditability at any given moment.
Improve Business Credibility
There is a common notion in the industry that a reputable and trustworthy business in Thailand has some kind of online presence. Nowadays, potential customers would likely be distrusting of any business that didn’t have a telephone number or a physical address, and the same can be said for not having a website and email address. However, entrepreneurs should not be misled into thinking that a company page on Facebook is enough to build their credibility. 84% of consumers believe that having a website makes a business more credible than just a social media page.
Keep in mind that having a website means entrepreneurs have their own domain, which legitimizes a business and improves its credibility. It gives a brand identity and is virtual proof that it exists. Moreover, having a quality, user-friendly website provides customers with convenience in using the services, as they will assume they can expect the same positive experience in all areas of your business.
Improves Customer Service
Another advantage when entrepreneurs have their website is that it will help them improve their customer service. Having an actual store with staff members may have its benefits but entrepreneurs can’t manage and oversee the business 24/7. For instance, staff or entrepreneurs get calls from customers asking simple questions about the business’s location and hours of operation. If they miss the call, customers are left unhappy. However, a website can help customers find useful information without needing to call, which ultimately provides an all-around better user experience. Moreover, being available to the needs of the clients at any given time provides added convenience, giving them access to products and information whenever they need it.
It Cuts Costs
Apart from providing customers with convenience in terms of information, a website also provides clients with around-the-clock availability in terms of access to products, information, etc. This type of service generates more profits than that of a traditional storefront. Entrepreneurs can use their website to sell goods and services directly to their consumers, in some cases removing the need to involve large operating costs such as staff wages, rent, utilities to name just a few. If a business lends itself to online sales, entrepreneurs can create a virtual store as an alternative or complement to a storefront or office location. Eliminating these overheads will also allow entrepreneurs to lower their prices, giving their business a real competitive edge.
Taking Advantage of Business Websites
If entrepreneurs want to take their business to another level, they have to be prepared to invest in ways they know what’s best for their business. Seeking professional help from experienced startup specialists and creating a quality website can help them step up their A-game and thrive in this competitive industry. Keep in mind that a website is not an expense and a waste of time – it’s an investment. And for it to pay out, entrepreneurs must make sure that their website is professionally designed, fully functioning fast download speed, and packed with great content. Entrepreneurs can expect a return on investment within a given time.
For entrepreneurs who are thinking of creating a website or revamping their company’s existing website, they must do their homework and do the due diligence involved in making the effort worthwhile.
Source: Asian Correspondent
In this fast-paced industry, competing for attention and acquiring more customers is intense. That means entrepreneurs must step up their A-game to achieve quality leads. However, when face with business hurdles such as having limited resources, tight budgets, time constraints, and when conversions are badly needed, startup entrepreneurs might reconsider their marketing options and opt for practicality.
Email marketing can save the day!
Email marketing is a powerful marketing technique many startup organizations use to promote their businesses and grow revenue. It allows entrepreneurs to have more flexibility in creating their brand image without spending too much time and money. Marketing products or services by email can be a fast, flexible, and cost-effective way of reaching new customers and retaining existing ones. Studies have shown that email marketing campaigns help small businesses generate even more sales than social media giants like Facebook and Twitter. Startup businesses utilizing email marketing can drive impressive results.
Reaching the Right Audience
One way to survive in this competitive industry is to know the target market and understand their purchasing habits. Research has shown that people spend 30% of their time at work and 50% of their time working from home, checking their emails – this gives a higher chance for entrepreneurs to reach and connect with their target audience. The majority of their contact lists will receive their message for as long they have taken the necessary precautions to warm up their domain and avoid spam filters.
Keep in mind that when promoting a brand, trust is the most crucial sales & marketing component. Trust will lead to loyalty that will eventually lead to growth. If entrepreneurs cannot reach their audience effectively, then this may cost them a lot. However, utilizing email marketing allows entrepreneurs to build trust by establishing and building an authentic personal connection through sending weekly newsletters, promotional emails, and special deals to potential customers anytime and anywhere.
A Cost-Effective Method
Aspiring entrepreneurs who want to open a business in Thailand should know that they can start small and work their way up and succeed. That means an entrepreneur can start a business even without having millions of dollars in his bank. One of the most appealing benefits of email marketing for small businesses is affordability. Since most startup companies have a limited budget, getting the most out of their resources should be considered, and email marketing has the advantage.
Utilizing conventional ways of promoting a business, such as printing and mailing pamphlets, may have its value but they aren’t something small businesses can do regularly since it needs a lot of funding. Email, however, can be made frequently, reaching hundreds or thousands of people at a minimal cost. The costs of email marketing can be much lower than many other forms of marketing. There are no advertising fees, printing, or media space costs. Startup businesses should remember that low cost + high ROI = a small business win.
Effective Calls to Action
People are bombarded with marketing messages every day. With overwhelming video, images, or promising solutions to everyday problems, customers are likely to have decision fatigue. However, a call-to-action can break the buying dilemma. It is usually a command or action phrase, motivating the audience to visit a site, book a call, or read a specific article. A Call-to-action eliminates confusion, allowing the target audience to take the appropriate next steps.
Entrepreneurs starting up a company in Thailand should know that a successful marketing campaign begins with an effective CTA – it is the finishing touch on any type of promotional content. Skipping such a crucial factor is a grave mistake to make since it confuses the audience and ruins the chances of sealing the deal. Call-to-action buttons make it easy for customers to do what entrepreneurs want them to do. That’s good for them and good for the business.
Targeted and Personalized Content
Email marketing allows entrepreneurs to demonstrate value to their consumers and show their audience how to take the next step with their business. Keep in mind that sending emails should not be focused on heavy selling. Entrepreneurs should provide value in their emails. Once a potential customer joins the email list, entrepreneurs have the opportunity to send them personalized, practical, and relevant content.
Personalization can be as simple as including the client’s name in the email. Studies have shown that emails that use the first name of the buyer in the subject line have a higher conversion rate than those that are generic. Moreover, apart from the campaign, entrepreneurs can also send information that customers may find helpful. For instance, entrepreneurs can create an email that links to a recent blog post about foreign investment in Thailand. Once they can show their customers the value they provide to them, they will look forward to hearing from the company every week.
Tracking Metrics Over Time
Managing a business in Thailand goes beyond promotional advertisements on social media or other platforms. One way to know that a brand is successfully marketed is when there is an increase in conversion rate. Entrepreneurs can measure this by tracking their metrics. Fortunately, businesses can now utilize email marketing tools like Google Analytics which allows entrepreneurs to see how many emails were opened, how many links were clicked on, and how many users unsubscribed after a particular email campaign.
With these marketing tools, gathering data by tracking conversion and click-through rates is now easy. And with the gathered information, startup businesses can make major or minor adjustments that will improve their brand. For instance, when there’s an email with a great click-through rate, use that as a base for future sends. If a particular email with an image performs well, entrepreneurs can use it as a reference and have a compelling image in the next email.
Increase Leads and Sales
Email marketing provides a great opportunity for impulse buying. When there’s an enticing offer, oftentimes, customers act on impulse. Adding urgency to an offer and giving generous sales or free shipping are excellent ways to convert a subscriber to a customer. Some customers will make a buying decision if they receive a well-timed offer. According to a report from the Direct Marketing Association, 66 percent of consumers have made a purchase online due to an email marketing message.
Entrepreneurs can also influence their customers to make another purchase by:
Keep in mind that the more interested consumers you have on your email list, the more potential sales you can obtain through your email marketing campaign.
Start Communicating With the Audience Through Email
The benefits of email marketing for startup businesses may not always be obvious, yet there are many. An email marketing strategy can help businesses generate sales while maintaining a reasonable budget. It is easy to get caught up with the intricacies of building out an email marketing campaign that works. But entrepreneurs must also remember that there’s a lot of opportunities to communicate with their customers rather than just sending promotional emails all the time.
For startup entrepreneurs who are still learning, seeking help from a trusted and experienced startup specialist can help them with their email marketing strategies and track their analytics to help refine their future campaigns. This will help entrepreneurs spend less time worrying about marketing details and spend more time working on making their business successful.
The post 6 Reasons Why Startup Businesses Should Use Email Marketing appeared first on StartUp in Thailand.
Source: Asian Correspondent
Running a startup business can be daunting and intimidating. Entrepreneurs may face unexpected challenges along the way that have the potential to ruin their business goals. No matter how entrepreneurs run their company, seeking help from an expert can give them a cutting edge in the industry. Entrepreneurs must consider hiring management or experienced startup specialists, especially when doing business in a foreign country like Thailand. Seeking help from an expert is a cost-effective way for startup businesses to leverage specialized knowledge.
Business startup specialists in Thailand can help entrepreneurs navigate crucial business hurdles and opportunities while guiding them on several key areas, such as SEO and marketing strategies. They are also experts in providing entrepreneurs with valuable insights, giving them better clarity into how to operate a startup business successfully, and promoting solid growth through effective marketing. However, to effectively utilize these advantages, it is crucial for entrepreneurs, especially those who have never been hired for this role before, to do their part by asking the right questions.
Keep in mind that every business startup advisor wants to hear and address good, deep, and thorough questions from their clients. With the right questions, entrepreneurs can turn an entire sales conversation around. So here are some vital questions to ask your consultants to achieve great results and not a mediocre outcome.
What particular area of business strategy do you specialize in?
Generally, each startup consulting firm has its areas of specialization. Some consultants specialize in specific industries, markets, or strategic issues. That means if entrepreneurs need guidance on developing effective sales and marketing strategies, they must seek help from an expert who has in-depth knowledge and proven experience in that particular area. Keep in mind that it is preferable to partner with an expert who knows the business challenges and opportunities and recent experience so entrepreneurs can get the latest insights and recommendations.
How well do you know the industry and market, and what relevant experience do you bring?
Every consultant covers the retail industry in Thailand differently. That means for entrepreneurs to have proper guidance in the market, they should work with an expert. Consultants who have been working in the business industry and are currently on the latest trends and developments can offer consulting services more efficiently and provide specific analysis and advice on a shorter timeline.
What do you know about our business and our competitors?
Consultants often provide recommendations based on the overall context of the nature of a company, including its value proposition, resources, and status among its competitors. While entrepreneurs can expect their startup specialists to be familiar with their business and their competitors, a good and reliable advisor would care enough to do some homework in advance before an engagement begins. When they do, it demonstrates their interest in the field and their due diligence.
Can you provide some samples of your strategic consulting projects and specific results?
No entrepreneurs would hire an incompetent consultant. Ideally, they would look for an expert who has worked with similar projects successfully and help other startup businesses make sound decisions and achieve measurable results. That is why before partnering with a new business consultant, entrepreneurs should make sure that that particular candidate has what it takes to help them succeed in the business industry. But due to confidentiality and non-disclosure agreements, many cannot reveal company names, financial data, and other sensitive information. However, a good consultant can provide examples of recent work and recommendations and specific indicators of successful results.
Do you have a background in sales and marketing?
One of the crucial factors to consider when running a business is to lay out an effective sales and marketing strategy. Most of the time, entrepreneurs require to analyze the market and develop financial projections to address issues while taking advantage of the opportunities in the industry. Without proper knowledge and experience, this could harm the business. Thus, partnering with a consultant that has a solid background and has extensive experience in the field is crucial to achieving a quality outcome.
Can you describe how you’ve successfully manage issues that were outside your expertise?
Because the business industry is constantly evolving, it is also likely that business startup advisors will encounter problems, challenges, and opportunities outside of their expertise. When these happen, a good strategist can learn quickly, think critically, and research strategically to provide informed guidance and make profitable recommendations. Asking this question and knowing that they have experienced it and have successfully overcome such situations can give entrepreneurs assurance and confidence in their qualifications.
If presented with challenges and opportunities, how would you start resolving them?
Many small business owners in the retail industry in Thailand look to professional consultants for help, especially when facing various concerns or prospects. Startup consultants are there to analyze, organize, and simplify complex problems while staying goal-oriented and fact-based. Asking consultants how they would start evaluating and prioritizing multiple issues will give entrepreneurs an idea or a sense of the strategist’s process and how effective that person will be.
When you’re consulting, how do you approach different personalities, opinions, and priorities?
In learning and analyzing an organization and recommending strategic decisions, startup consultants will inevitably need to work with various members of an organization. They may need to collaborate with executives, managers, and front-line team members. However, clashing egos, priorities, and opinions with the members are also unavoidable. Thus, a consultant must have exceptional people skills. It always boils down to having proper communication and understanding to build trust, find common ground, and respecting one another despite differing views and agendas. Entrepreneurs must ensure that the consultants they have chosen can demonstrate these skills and explain how they have used them successfully.
How can you help my small business grow and thrive in the industry?
Since there is a growing number of startup consultants working independently, entrepreneurs can choose between multiple candidates with excellent qualifications. Asking them about their unique qualities, qualifications, or capabilities can help entrepreneurs decide whether that candidate is fit for the role.
Expert advice and guidance allow startup businesses in Thailand to stay on track to achieve set objectives and time frames. However, before partnering with a startup specialist, entrepreneurs must set clear expectations. They must define their business carefully and ask their consultants to detail the services that they are providing. Entrepreneurs must be keen on and selecting a candidate before signing any contract. One of the best ways to find good consultants is by asking the right questions. The right questions will save entrepreneurs from committing costly mistakes.
Moreover, understanding their way of providing startup consultancy services to their clients is crucial in growing a business. Startup consultants can have a portfolio of several specialties, but these questions mentioned can clarify how confident they are in a particular area and whether they could back it up. Keep in mind that even if consultants are skilled, that does not automatically mean that they fit the role. Asking the right questions about how they think about growing a business and how they can work as a person or agency can help businesses thrive in the competitive industry and keep entrepreneurs sane at the same time.
The post Questions to Ask When Hiring a Startup Business Consultant in Thailand appeared first on StartUp in Thailand.
Source: Asian Correspondent
It takes a serious commitment to start a business in Thailand. Being an entrepreneur can be tremendously rewarding, but it is hard work. The first thing that any startup business owner would tell an aspiring entrepreneur is that success doesn’t come overnight, ultimately, it doesn’t come easy. It always starts with an idea, then a plan, and followed by the implementation of the strategy. Perhaps, one of the most crucial ingredients of being an entrepreneur is to know how to take charge of turning their idea into a fully operational business.
To understand what makes a successful startup entrepreneur, they first need to know what entrepreneurship is. Entrepreneurship is commonly thought of as the process of starting a business – and multiple factors that come with it including; coming up with a strong sales and marketing strategy, seeking legal advice from experienced startup specialists, and some initial funding. If aspiring entrepreneurs are thinking about launching their own venture, then they might be wondering if they have what it takes to be an entrepreneur.
There’s no such thing as a perfect entrepreneur, but there are certain qualities that successful startup business owners have that make them stand out from the rest. These qualities go beyond entrepreneurial knowledge and skill set. Being an entrepreneur is challenging, but those with these characteristics have the potential to be successful.
Behind all great start-ups is a vision – that means not only is the vision the very foundation of the company itself but can often also be the key for its business growth. Successful startup entrepreneurs are visionaries who can see exactly what their business is going to look like in every detail when it is finished. They have an idea of what they want their business in Thailand to look like in the future and can concisely articulate its purpose, goals, and market position. They are creative thinkers with vision who see opportunities before others do and move forward to capitalize on them. Successful entrepreneurs with vision also can influence others that their vision is possible and desirable. Not only do they believe it, but they also have a constant and burning desire to achieve that ideal.
Being an entrepreneur, especially when starting a company in Thailand, is difficult. There are high highs and lows. That’s where passion comes into play. Passion is one of the most significant factors startup business owners must have to excel in their business – it is the fuel that drives every entrepreneur to succeed. When they have a passion for managing a business, it motivates them to persevere no matter the challenges that may come their way. Entrepreneurs should be passionate about the products they create or the services they provide. They should be passionate about solving the problems their businesses face or about improving the lives of their customers. It is the desire and the ability to go beyond any odds to achieve the needed outcomes. It powers the hard work, determination, and creativity to reach their goals and attain the significant accomplishments possible. Passion will help entrepreneurs succeed in the industry, making them likable, relatable, and engaging. Keep in mind that entrepreneurs who have passion are more bound to succeed in their business than those who don’t.
Becoming an entrepreneur is not an easy task! In the business industry, it is easy to become demoralized, frustrated, and resentful if an entrepreneur lacks self-confidence. They may face rejection along the way and setbacks might be a likely outcome of any startup business venture, but successful entrepreneurs have the confidence to keep going, bounce back, and believe they will overcome the challenges. They must believe in their abilities and that the market will be interested in their ideas and that they can deliver them to the public. Moreover, entrepreneurs must know themselves well — their strengths and weaknesses — and play to their strengths. They are not scared to explore, take risks, and make difficult decisions. The confidence that they have allows them to make valuable decisions that are necessary for running a successful business and enables them to lead their teams.
Determination and Perseverance
One of the most common reasons for entrepreneurs to fail and face business closure is a lack of determination and persistence. People may romanticize the life of an entrepreneur, especially venturing into foreign investment in Thailand. But in reality, the cost of running a business is taxing – it’s difficult and often unglamorous. Many entrepreneurs fail because they give up at the first sign of difficulty. Keep in mind that the hardest part of entrepreneurship isn’t finding the initial spark. It is the few months in or even years in the industry once entrepreneurs realize their business isn’t moving as fast as they want it to. However, every success story includes an element of determination and perseverance. With these qualities, entrepreneurs can overcome obstacles and setbacks and often win out against odds that many people consider insurmountable.
One of the dangers of too much enthusiasm is the willingness to be all things to all people, trying to benefit from every potential opportunity. The problem with that is that entrepreneurs can suffer from a lack of focus. If they are putting both time and effort into doing lots of different things, they could easily wind up doing them, at best, in an average way that offers no competitive edge. If entrepreneurs don’t focus on one thing, such as strategic business planning, it may be difficult for their potential customers to quickly get a handle on what it is that they are offering. To be truly successful, entrepreneurs need to be ruthless with their time management, opportunity management, and resource allocation. They should learn how to say no and focus on what’s important when running a business.
Adaptable and Flexible
In the fast-paced business world, change is inevitable. It changes all the time, and entrepreneurs have to be ready for it. Startup businesses today must adjust and conform to the latest standards on a nearly real-time basis. This calls for increased focus on developing and establishing the traits of flexibility and adaptability. To stay competitive, entrepreneurs must be open to new ideas and concepts. Their willingness to adapt in such situations essentially determines one’s level of determination to succeed. Entrepreneurs should know and understand that adapting to changing conditions is an essential part of running their lives and their business. The business landscape changes all the time, and they have to be ready for it. Without adaptability and flexibility, entrepreneurs are going to find themselves in serious business trouble.
Managing a business startup can be rewarding, but not everyone is cut out to be an entrepreneur. Before leaping into entrepreneurship, aspiring entrepreneurs should ask themselves if they have what it takes to be successful. There’s no right or wrong way to be a successful entrepreneur. However, it takes a long road to achieve it. While there is no one-size-fits-all strategy to succeed in the industry, running a business still demands a great dose of knowledge, skills, and attitude to make the journey worthwhile.
Keep in mind that entrepreneurship is both a challenge and a great opportunity, and it takes certain qualities to be successful. Thus, understanding these qualities is a strong start. The good news is that successful entrepreneurs don’t do it alone. Professional consultants are there to guide them to become better and reach their business goals.
Source: Asian Correspondent