what is one way for an entrepreneur to decrease riskCategoriesEntrepreneurship
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Why reducing risk is essential for entrepreneurs

You probably know the saying: “It takes money to make money.” But what you may not know is that it also takes risk. When it comes to starting your own business, risk is a necessary evil.

You can’t eliminate risk entirely, but by understanding it and managing it effectively, you can minimize the chances of failure. Here are some tips on how to reduce risk when starting a business.

What is the risk?

Risk is the possibility of a negative event occurring. For example, if you are invested in a company and it files for bankruptcy, your investment is at risk.

Another example of risk is the one that exists when you start a business on your own. If you don’t plan well and take the risk, your business may fail.

In any case, it is important to take the risk when you start a business, otherwise you risk failure.

Why is it essential for entrepreneurs to reduce risk?

Reducing risk is essential for entrepreneurs because it allows them to focus on their business without having to worry about possible losses.

When starting a business, there are many factors to consider. One of the most important is to reduce the risk as much as possible. This means making sure you have a solid business plan and not putting all your eggs in one basket.

It also means being realistic about the potential for failure. No business is immune to risk, but if you recognize it and take steps to minimize it, you’ll have the best chance of success.

How can entrepreneurs reduce risk?

There are a few things that entrepreneurs can do to reduce risk when starting a business.

Investigate the risks of the industry

It is important that you consider the risks of the industry in which you plan to operate. Don’t know how to do this? Here are some ideas:

–          Get to know your buyer persona or ideal customer very well: learn about their consumption habits, what worries them, what they think of the sector and what they expect from it.

–          Look for official statistics: you can go to specialized websites for your sector or to sites like Statista to get a more objective view. Based on data.

–          Identify internal and external risks: make an internal analysis of your capabilities in relation to external aspects.

–          Assess the likelihood: try to identify which of the risks is more likely to occur given your own case, your own industry, and your own resources.

–          Periodically review the risk analysis: Once you have started, be sure to review the risks, assess your own situation and the market reaction.

These are some of the things we recommend you keep in mind. But as you get to know your sector, its risks and difficulties, you will surely come up with some ideas. Try to do this work carefully.

The idea is to have all the risk elements clear. Once you have these clear ideas, you can make a business plan that takes into account the different risk scenarios.

Create a business plan

To do this, you can create a SWOT matrix, consider the risks and create an action plan according to the evaluation of your business and the possible risks it may face. But always keep in mind that not everything can be predicted. Therefore, you must keep an open mind and consider many possible situations.

Get business advice

Consider hiring people with more business experience, especially if they have a good track record in the industry you plan to enter. I know this may not seem like a viable option with a low return on investment, but it is vital to reduce risk in any venture.

Make a correct analysis of the competition

Try to analyze your competitors. Evaluate their social networks, their brand, the product they sell, the way they sell it and the type of customers they attract. This will help you get an idea of how the market works and will guide you on how to differentiate yourself from them.

Having a good digital marketing plan

One of the most important aspects when starting a business is to have a good marketing plan. The same principles do not apply to all businesses and making sure you have the right medium to long term promotion is of vital importance.

 

If you need us to help you with your marketing plan, contact us and we can help you.

building a business case can involve which of the following

What are some of the risks that entrepreneurs must take when starting a business?

Some of the risks that entrepreneurs must take when starting a business include the following:

1.       Financial risk: In order for their business to be successful, entrepreneurs must invest a significant amount of money. If the business doesn’t work out, they can lose everything they’ve invested. But, the rewards can be enormous if they are successful.

2.       Technological risk: Entrepreneurs face the risk that their products or services may become obsolete. If their offerings are not competitive, they may fall behind and lose market share.

3.       Market risk: Entrepreneurs risk that the market will not be interested in what they are trying to sell. If there is no demand for their product or service, they are unlikely to succeed.

It’s important for entrepreneurs to be aware of these risks and to take steps to mitigate them. This can be through market research, the development of effective marketing strategies, and a willingness to adapt to technological change. By making calculated decisions and managing these risks effectively, entrepreneurs can increase their chances of success in the business world.

 

There are also other common risks. These include inexperience, intense competition, and economic uncertainty. These risks are also important for you to consider. Try to mitigate them as much as possible.

Learn from some real examples

Uber Example risk

An example of economic risk is that faced by Uber. Uber had to adapt to the regulations and laws of each place where it offered its services, which meant legal costs, taxes, fines, and lawsuits.

It also had to compete with other similar companies, such as Lyft or
Cabify, as well as with the traditional taxi industry. To manage this risk, Uber diversified its services by offering options such as Uber Eats, Uber Pool or Uber Health. This allowed it to achieve better results and outperform the competition.

Example of Sony security

Another example, albeit of technological risk, is that of Sony, a Japanese multinational electronics, entertainment and video game company. Sony has been the victim of several cyber attacks that have compromised the security and privacy of its customers and employees.

For example, in 2011, the company’s PlayStation Network was hacked and the personal and financial information of more than 77 million users was stolen. To manage this risk, Sony invested in improving its security systems, hired cybersecurity experts, and offered compensation to affected customers.

Kodak example

In terms of market risk, we have the one faced by the company Kodak, which unfortunately did not know how to manage itself, an American company that was a pioneer in analog photography. Kodak did not know how to adapt to the digital revolution that changed the photography market and lost its leadership to competitors such as Canon or Nikon.

The company was also affected by the emergence of smartphones with integrated cameras, which reduced demand for digital cameras. To manage this risk, Kodak filed for bankruptcy in 2012 and restructured to focus on other areas such as printing or medical imaging.

 

These are good and bad examples of what it means to take risks in
business. They don’t have to be yours, but they can help you identify your own risks.

¿How can entrepreneurs build a business case for risk reduction?

There are five areas that entrepreneurs should focus on when trying to build a business case for risk reduction:

1.       Have a clear vision: Many entrepreneurs fail because they do not have a clear vision of what they want to achieve. You must know exactly what you want to accomplish and how you are going to accomplish it, then work hard to achieve your goals and objectives.

2.       Focus on the market: Another common mistake is not focusing on the market. You need to identify your target audience and understand their needs. Getting this right can be the key to your success.

3.       Develop a solid business model: Your business model must be sound and credible. If it’s not, no one will invest in your business. Not only that, but it will also be important for you to build trust with your customers

4.       Have a strong team: You can’t do everything alone, so you need to surround yourself with talented and trained people to help you drive your business to success.

5.     Have a contingency plan: No one is free from failure, so you need to have a plan for dealing with problems when they arise. It will be very helpful to have assessed the risks as we suggested above, as part of your risk analysis, to create a contingency plan.

6.     Manage your finances: You must have a realistic budget and cash flow projection, and keep track of your income and expenses. You must also have access to funding sources, such as loans, grants or investors, in case you need extra capital.

7.     Protect your assets: Your business assets, such as your intellectual property, your equipment, your inventory or your data, are valuable and vulnerable. You must protect them from theft, damage or loss, by using security measures, insurance policies or legal contracts.

8.     Monitor your performance: You must measure and evaluate your progress and results, using indicators and metrics that are relevant and reliable.

9.     Adapt to change: The business environment is dynamic and unpredictable, and you must be ready to face new challenges and opportunities. You must be flexible and innovative, and willing to learn from your mistakes and successes.

10.   Communicate effectively: You must communicate your vision, goals and strategies clearly and consistently, to motivate and align your team. You must also communicate with your customers, suppliers and stakeholders, to build trust and loyalty.

 

Applying these 10 ideas will surely help you to create a safer and less risky path for your venture.

Conclusion

Reducing risk is essential for entrepreneurs because it helps them avoid potential problems that could jeopardize their business. There are several ways to reduce risk, but one of the most important is to build a business case.

A business case can involve a number of different things, but the most important aspect is identifying potential risks and then creating a plan to mitigate them. This may involve using market research, financial analysis, and other tools to assess risks and then develop a strategy to address them.

Building a business case is essential for entrepreneurs because it helps them identify and reduce risks that could destroy their business. By taking the time to assess the risks and develop a plan to mitigate them, entrepreneurs can increase their chances of success.

 

CategoriesVideo production
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How to Create an Effective Video Production for Restaurants

As a restaurant owner, you know that videos are an important part of your marketing strategy. But creating effective video content can be tricky. How can you make sure your videos grab your audience’s attention and make them want to visit your restaurant?

In this article, we’ll give you some tips on how to produce effective restaurant videos. We’ll cover everything from the basics of video production to creating a powerful call to action. So whether you’re just getting started or looking to improve your current video content, read on for some helpful tips.

Introduction: Why videos are essential for restaurants

You may be wondering why videos are so important to restaurants. Well, there are several reasons. First of all, people love to watch food videos. They can be useful when people are looking for a place to eat. They offer the opportunity to see how the food is prepared, and they also help keep people hungry.

Another reason videos are important for restaurants is that they provide a more visual way to showcase your establishment, services, and products. In today’s digital age, it is important to focus on online marketing and use digital platforms to reach potential customers.

So if you are thinking of ways to attract customers to your restaurant, video should be one of your strategies.

In this article, we’ll give you some tips on how to produce effective restaurant videos. We’ll cover everything from the basics of video production to creating a powerful call to action. So whether you’re just getting started or looking to improve your current video content, read on for some helpful tips.

Elements of effective video production

To create an effective video for your restaurant, there are a few key elements that you need to include. First, introduce your chef and show the staff. This helps build trust with the viewer. Then, show the preparation of the food. People want to see their food being prepared, and this can help keep them hungry. Finally, call to action. Give the viewer a reason to visit your restaurant, either by offering a discount or showing off a special dish. If you follow these tips, you’ll be on your way to creating an effective video for your restaurant.

 

Production tips for a food video

Some tips for producing food videos:

– Introduce your chef: People want to see who is behind the food they are going to eat. Showing the chef in the video helps to put a face to the restaurant.

– Show your staff: Customers also want to see the people who will serve them. A quick shot of the staff on video will let customers know they’re in good hands.

– Show off food preparation: This is a great way to show off your skills and show customers what to expect when they come to your restaurant.

– Call to action: At the end of the video, be sure to include a call to action, such as inviting customers to come to your restaurant.

How to promote your restaurant video

Our last key element to effective video production is promoting the video. If you don’t promote it, no one will see it. Here are some ways you can promote your video:

-Share the video on your social networks. Be sure to use relevant hashtags and tag your restaurant if you’re on a site like Instagram or Facebook.

-Include the video in your emails and newsletters.

-Put it in a loop on your website or blog.

-Make it easy for people to share the video. Includes share buttons on all platforms where the video is hosted.

Frequently asked questions about video production for restaurants

Here are some frequently asked questions about restaurant video production:

  1. How long should the video be?

The answer to this question depends on your goals and what you want to achieve with the video. In general, we recommend that videos be less than 2 minutes so viewers don’t get bored and click away.

  1. What should I include in the video?

Some things you might consider including are shots of your chef, your staff, the preparation of the food, and a call to action. Remember that the goal is to make viewers hungry so they come to your restaurant.

  1. How much does it cost to produce a video?

Again, this depends on a number of factors, including the length of the video, the number of locations, and whether additional crews need to be hired. However, in general we say that you can expect to spend between $500 and $5,000 on a single video.

Conclusion

Creating an effective video production for restaurants is critical to attracting customers. People search for food videos for various reasons: they may be looking for a new place to eat.

Some elements of effective video production:

-Introduce your chef

-Show your staff

-Show food preparation

-Include a call to action

Videos help make people’s mouths water.

At smg creativos we help you create an effective video production for your restaurant. contact us here

content marketingCategoriesMarketing
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Inbound marketing content strategy

You may have heard of SEO and inbound marketing at some point in your life, but what do they really mean? How can I use them to get the most out of a website or better yet your business?

SEO is the practice of optimizing a website and its content so that it appears on search engine results pages. Inbound marketing is a broader term that refers to the use of various techniques, such as content marketing, social media marketing, and email marketing, to draw people through your website rather than drive them away. with traditional advertising methods. In simpler words, inbound marketing attracts customers, unlike traditional marketing that persecutes them.

Both SEO and inbound marketing are important to get the most out of your website. However, they are not the same. SEO is a subset of inbound marketing and should be used in conjunction with other inbound marketing techniques for best results.

In this article, we will talk about the meaning, fundamentals, some misconceptions, strategies and uses about SEO and inbound marketing to get the most out of your business.

What is Inbound Marketing?

Inbound marketing is a methodology that allows your potential customers            find your business easier,you combine non-intrusive marketing and advertising techniques. It is a strategy that attracts the client by offering information of interest to them with useful, relevant and valuable content.

With inbound marketing, companies can create a more humanized relationship with their potential customers, without constantly bombarding them with ads. Companies that use inbound marketing techniques focus on creating content that attracts customers to them.

The objective of inbound marketing is to create a commercial relationship between the company and the client, based on the creation of content designed to attract and retain the attention of customers.

¿How does inbound marketing work?

The “inbound methodology” is divided into four stages: attract, convert, close and enchant.

  • Attract: This stage has to do with positioning the company on the Internet and attracting the ideal customers so that they find the content that you want them to see, and through them, the products and services that you are offering. For this, an optimization of thedigital infrastructureof the company aimed at achieving a significant increase in the capture of glances, better called traffic to its website. In addition, it developscontent planwith the purpose of capturing their attention and helping them find a solution according to each of their needs.
  • Convert:Once you have managed to attract the ideal customers to your website, you work toturn them into contacts(leads). Here come different types of resources specially designed to achieve conversion, such as leadflows, chatbots, CTAs and forms. These tools get people who come to your website to voluntarily share their data such as: name, email, telephone, etc. Their consumption habits, integrating into your contact base.
  • To close :In this closing stage, the efforts are focused on, as its phase says, closing or finalizing the sale. For this, it seeks to align the work of the marketing and sales teams, so that it is possible to maximize the results of the entire strategy.
  • Love:Loyalty is a central and important aspect in inbound marketing. This means that, with inbound, the relationship with customers does not end with the purchase, but from there, work is done to retain them and convert them into loyal and happy customers, little by little.promoters of the growth of your company.

In short, what it is about is working so that clients become spokespersons and bearers of your brand and add value to your business.

 

Inbound SEO

What is SEO?

It is a set of actions aimed at improving the positioning of a website in the Google results list, a website optimization process with the aim of obtaining higher levels of web traffic and improving the visibility of the site. It is essential for the first stage of the inbound methodology. Since it is a process to attract strangers to your website and convert them into potential customers.

SEO makes it easy to attract strangers from search engines and convert them into website visitors.

SEO can be divided into two large groups:

 

  • On-site: This is concerned with relevance, ensures that the web is optimized so that the search engine understands what is important or main, which is the content of it. Within this we would include keyword optimization, loading time, user experience, code optimization and URL format.
  • Off-site: This is the part that focuses on factors external to the web page in which we work. The most important factors in off-site SEO are the number and quality of links, presence in social networks, mentions in local media, brand authority and performance in search results, that is, the CTR that our websites have. results in a search engine. Surely you are thinking that all this is very good and that it is very interesting, but to know why you need SEO on your website and what benefits you will obtain if you integrate it into your online strategy.

SEO and Inbound Marketing together?

Big question! Here we share some ways to use SEO and inbound marketing together:

– Use keywords in your website content: This will help your website rank better in search results for those keywords, and will also help you attract potential customers who are looking for that information.

– Promote your content: Once you’ve created the targeted content, be sure to promote it through your social media channels and email list. This will help more people find and engage with your content, which can lead to more customers.

– Monitor your results: Use analytics tools to track the effectiveness of your SEO and inbound marketing efforts. This will help you adjust your strategy as needed to get the most out of SEO and inbound marketing.

strategy marketing inbound

Is Inbound Marketing easy?

One of the most common misconceptions about inbound marketing, it is a new easy to understand concept and its focus is SEO only.

Inbound Marketing is not easy. it requires a long-term strategy and the ability to create valuable and relevant content for your audience. It’s not just about SEO, but also about creating content that attracts and stays interested in your brand. And while the concept isn’t new, it has evolved over time and become more sophisticated.

How can I create an effective Inbound Marketing strategy?

A good Inbound Marketing strategy will have a few key components such as:

  • Useful, relevant and valuable content: This is the daily life of Inbound Marketing. Your content should be interesting and useful enough for users to stick around, but also relevant to what you’re selling.
  • Variety of content:To keep user interest you have to mix a few things, a good mix of blog posts like infographics, videos and other types of content will keep people coming back for more.
  • The AAARRR Framework: This framework is based on creating content that enables acquisition (get people to your site), activation (get them to subscribe to your product), retention (keep them using your product), recommendation (getting their friends to tell about your product) and income (making money with your product).

Frequently Asked Questions about Inbound Marketing

Inbound marketing is a marketing strategy that focuses on content and attracting customers with relevant and useful information. Frequently asked questions about inbound marketing.

  • What is inbound marketing?

Inbound marketing is a comprehensive approach to generating leads and converting sales by creating and sharing relevant and useful information.

 

  • What are the benefits of inbound marketing?

Inbound marketing allows you to increase sales and customer loyalty.

 

  • What is the most important element of inbound marketing?

Content is king when it comes to inbound marketing. Creating engaging, relevant, and useful content is the key to inbound marketing success.

Frequently Asked Questions about Inbound Marketing

Inbound marketing is a marketing strategy that focuses on content and attracting customers with relevant and useful information. Frequently asked questions about inbound marketing.

  • What is inbound marketing?

Inbound marketing is a comprehensive approach to generating leads and converting sales by creating and sharing relevant and useful information.

 

  • What are the benefits of inbound marketing?

Inbound marketing allows you to increase sales and customer loyalty.

 

  • What is the most important element of inbound marketing?

Content is king when it comes to inbound marketing. Creating engaging, relevant, and useful content is the key to inbound marketing success.

Conclusion

SEO and inbound marketing are two of the most effective strategies to attract customers and drive sales. But they can be difficult to run on their own.

The good news is that you don’t have to choose one or the other. By combining the two strategies, you can get the best of both worlds.

Here are some tips to help you get started:

  1. Define the audience you want to attract.
  2. Create content that engages your audience.
  3. Use SEO keywords in all your content.
  4. Promote your content on social media and other channels.
  5. Analyze results and adjust strategies as necessary to achieve your goals.

By following these tips, you can create a powerful marketing strategy that will help you attract more customers and drive more sales.

At smg creativos we can help you increase your sales with inbound marketing strategies. Contact Us.

digital marketing strategy

November 10, 2022 No Comments

What is a digital marketing strategy? A marketing strategy defines how the short and long term objectives of a business or company will be achieved.

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Tools for digital transformation

November 10, 2022 No Comments

What is digitization? During the last decades we have witnessed a series of social, economic and technological changes. Technology has surely been the most determining

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CategoriesTools
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Tools for digital transformation

What is digitization?

During the last decades we have witnessed a series of social, economic and technological changes. Technology has surely been the most determining factor in these changes. The technological advances developed during this period have influenced almost all aspects of life, especially pushed by the beginning of the pandemic and the expansion of social networks, workflows have seen the need for digital transformation.

Digitization are actions where traditional companies implement in their processesDigital tools, changing common activities that are carried out manually to automate them with digital tools, obtaining benefits such as reducing costs, working in more organized and efficient ways, improving customer service, among others.

Why is it important for companies?

Nowadays, companies cannot sustain their activity solely with a physical environment, since for any business model it is important to take advantage of technological tools to move from complex processes to a simple automated process. Applying and using all the tools that technology offers us can facilitate the user experience, providing the benefits that digital transformation brings us and allowing us to accelerate work processes that can consume more time than normal.

An example is an ecommerce (online store) that works very well on mobile devices can increase your sales and reach places where it would be physically very limited.

Applying digital tools correctly in your company can be the key to success in your business. Some advantages are:

  • Improve customer experience
  • Immediate delivery of information
  • organization at work
  • Immediate communication
  • Market analysis
  • Information for Decision Making
  • Team management
  • Productivity increase
  • Reduce costs
  • Less risk of errors

Digitizing Tools For Businesses

 To understand what this tool consists of, we must first be clear about the concept of digitization, which consists of representing information digitally.Normally we live in an analog world in which diverse information is constantly being received.

Virtually everything can be “made digital Texts, images, music… anythingType of information also referring to work processes, techniquesInternal operation etc.

Business transformation is a business strategy that is related to change management and is looking for a company to achieve desired goals. This change initiative implies a constant update and a digital transformation that entails changes linked to global advances. For this, each action has a fundamental objective when applying a new technique in a company, as well as solving the challenges that digitalization brings and being able to choose strategies or tools that apply according to budgets, objectives or organizational culture.

Below you can see a wide variety of digital tools for the transformation of your company:soul

File storage

DROP BOX: It is a cloud storage service which is used to host files in the same organizational culture, it is available in a Web version for any device.

GOOGLE DRIVE:It is used to create and save files online, where the basic plan includes a capacity of up to 30 GB of storage ·     

GOOGLE WORKSPACE (EX-G-SUITE):It is one of the favorite tools to store all Google files in the cloud like, Google Sheets spreadsheets, Google Docs documents, Google Slides presentations and other types of documents.

Social networks 

HOOSITE:This platform is used to analyze social media strategies and measure reports and be able to evaluate results, it is an automation tool that allows you to program publications on social networks such as: Facebook, Instagram, LinkedIn, Twitter and to be able to add statistical comments and much more.   

Manage relationship with clients·     

 SALESFORCE:It is a software that allows us to manage all the information of a client in the same History, monitor activities of your work team, assign tasks to specific people. 

HUBSPOT CRM:Software specialized in marketing and sales. Its objective is to promote the growth of your business. It is free and allows you to observe the entire business flow thanks to its activity and contact records, since you can synchronize it with your Gmail and Outlook accounts.

Payment gateways:

PAYPAL:It is one of the best known payment gateways, where payments are processed and authorized for your business. If your business has clients abroad, PayPal is your option as it allows you to make payments in more than 200 countries.

STRIP:This application is used to receive payments online. You can connect your website with a bank account and thus charge directly from your website.

Business management

GOOGLE MY BUSINESS:This tool is key so that your potential clients can get to know you beforehand. It allows you to create a kind of “file” with detailed information about your organization such as,

Address, description, hours, contact, website.

CLICK FUNNELS:It is used to create and design your funnels or sales funnels. This will help you when analyzing which phase of the funnel each client is in and what the digital strategy should be like for each of them.

 

CONSULTOK:It serves to validate decisions quickly and efficiently, Consultok is a technological platform that connects decision makers with experts willing to advise them. How does it work? They connect you with more than 200 experts from different fields so that you can ask them questions, resolve doubts or make queries that you will receive through personalized video messages.}

Projects management :

TRELLO:This tool consists of a customizable board that is used to create, assign and track tasks on different created cards. You can apply the Scrum methodology wave Kanban methodology.

ASANA:This work management platform focuses on goals, projects and daily tasks through the planning and structuring of a project. It has a schedule to establish priorities and deadlines for meeting goals.

Project automation:

ZAPIER:This tool allows you to unify all your websites and automate the different platforms used in your company.

MONDAY:It is a customizable dashboard that is used to manage projects, workflows and daily tasks but allows you to have a panoramic view of all the processes. You can also make reports using the calendar to schedule tasks for each person on your team

WORD PRESS:The most recognized CMS (Content Management System) worldwide, allows you to create and host your website, as well as the creation and management of written content to position it in search engines such as Google.

GOOGLE ANALYTICS:It is a tool for the analysis of metrics and specific data of your website. You can review all its statistics such as visits, most viewed pages, users, bounce rate, sales, etc.

CANVAS:It is used to design, edit and publish graphic material that will accompany your communications on different social networks. It has a wide variety of templates and images, as well as being a very intuitive tool, so you don’t need to be a great expert to start using it.

 Digital marketing:

MailChimp:Tool for email marketing, It serves to automate campaigns through email. It is one of the best known tools in digital marketing that you can use to improve the campaigns of your business or company.

Google Ads:It works for any business or company regardless of its size, Google Ads is a very powerful tool that can help your business achieve its goals.

SEMrush:It is a tool that helps increase the online visibility of the company’s website through SEO strategies. Helping to increase organic traffic from search engines like Google.

At SMG Creativos we help your company or business to grow digitally, Contact us.

Email Marketing Tips for Restaurants

November 14, 2023 No Comments

Email marketing has become an essential tool for today’s restaurants. This strategy offers great potential for increasing customer loyalty, promoting special events, and increasing sales.

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Wifi marketing for restaurant

Wifi Marketing For Restaurants

November 14, 2023 No Comments

Wifi marketing is a digital marketing technique that benefits both restaurants and guests. By offering free wifi to patrons in exchange for a little information,

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CategoriesMarketing
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digital marketing strategy

What is a digital marketing strategy?

A marketing strategy defines how the short and long term objectives of a business or company will be achieved. It is like a map that helps organize the different aspects of a campaign. Marketing strategies mainly seek to know the current needs of the business or company to propose the actions to be carried out to achieve the objectives set out in the strategy, and what is more important, why do you need one?

So why do you need a marketing strategy? Here are some reasons:

  1. To define your target market
  2. To specify your unique selling proposition
  3. Create goals and objectives
  4. Develop a budget and allocate resources
  5. Track progress and measure results
  6. Make the necessary changes and adjustments

If you’re not sure where to start, don’t worry. At SMG Creativos we can help you develop a perfect marketing strategy for your business.

10 types of marketing strategies

When it comes to marketing strategy, you need a plan. No strategy. No plan, it’s just about going lucky.

The marketing strategy is a defined plan that describes how the objectives will be achieved. It includes things like target market, messaging, tactics, and budget.

Creating a marketing strategy is essential if you want your company or business to be successful. It will help you keep your company focused and ensures that all your efforts and actions are directed towards achieving your goals.

 

  • segmentation strategies
  • digital marketing strategies
  • Competitor Relationship Strategies
  • Content Marketing Strategies
  • brand positioning strategies
  • Loyalty strategies
  • Market penetration strategies
  • Word of mouth marketing strategies
  • Portfolio or product elimination strategies
  • Direct Marketing Strategies

Why do you need a marketing strategy?

The digital world is very wide, having a digital marketing strategy is very important at a time when companies and businesses are digitizing, taking advantage of all the advantages that digital marketing and tools bring us.

It will help your company or business to know what actions it must take to achieve the results or objectives set out in the marketing strategy.

 

You will have a clear and efficient objective, with which you will avoid losing focus, eliminate distractions or actions that do not contribute in the way of achieving said objective.

The tools that support the plan will be proposed and the effectiveness of each action carried out to meet the objectives will be measured.

 

5 pillars of marketing strategy

You may be wondering why you need a marketing strategy. After all, you are a small business and just starting out. You are not McDonald’s or Coca Cola.

But the thing is, just because you’re small doesn’t mean you can’t compete. In fact, it is the opposite. If you don’t have a plan, if you don’t have a strategy, your competition will eat you alive.

So what are the five pillars of a successful marketing strategy?

 

  1. Identifies referents
  2. Define products and services
  3. Define target audience
  4. Define Budget
  5. To establish objectives

How to create an effective marketing strategy

Don’t assume anything, do some research on the competition, the market and your target audience.

Ask questions such as what interests they have, where they are, what type of social network they frequent, ages and other information that allows you to identify that target audience.

Investigate your competition, what actions they take, what digital channels they use, what strengths and weaknesses they have, and how this information can help your business.

Make the profile of your product, compare it with that of the competition and carry out that analysis of what differentiates it from others, what is that value proposition to your target audience? Is the price competitive?

The marketing strategy must be clear about the objectives of the company or business. Know what tools are going to be used to fulfill what is proposed, Have a clear and realistic objective, And a specific time to achieve said objective.

Carry out an audit of whether the actions that are being carried out are giving results, or if you should change and optimize the budget and the processes that are being carried out.

What are some of the most common business marketing strategies?

DSo what are some of the most common business marketing strategies? Here are some that come to mind:

1. Create a strong brand identity. Your brand is what sets you apart from your competitors, so it’s important to make sure it’s strong and recognizable.

2. Focus on the needs of customers. It’s important to know what your customers want and need, and design your products and services accordingly.

3. Create a catchy slogan or jingle. This can help customers remember you and your products/services.

4. Develop a presence on social networks. Platforms like Facebook, Twitter, and Instagram can be great ways to connect with customers and build relationships.

5. Offer gifts or discounts. Who does not like a gift or a good offer? Offering incentives can be a great way to attract new customers and keep existing ones coming back for more.

You may be wondering why you need a marketing strategy. Sure you can improvise, right?

It is not like this. Without a solid plan, he’s just throwing darts at the dark. And while you may hit the target occasionally, you won’t be very successful in the long run.

That’s where a good marketing strategy comes into play. It will help you find out who your target audience is, what content works best for them, and how to reach them. Not to mention that it will help you stay organized and on track.

So if you’re not sure where to start, don’t worry, we can help. Our team of experts will work with you to create a perfect strategy for your business.

You need a marketing strategy because it will help you set clear goals and objectives for your business, and it will also help you track your progress along the way. Without a marketing strategy, you will fly blind and have a much lower chance of success.

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