Business | In effectivity article

How to Use Twitter Social Videos to Boost Your Business Visibility

Why Incorporating Video on Your Twitter Account is Good For Social Marketing

Last month I shared several articles and video eTips on the use of video marketing for your business, especially in the realm of social media marketing.

But an often overlooked video marketing option is using video on Twitter.

Using videos on your Twitter channel can provide a much richer experience for your followers than by simply posting images or text. Plus videos allow your followers an opportunity to get to know, like and trust you all that much quicker and easier.

The fact of the matter is: Twitter users embrace video.

This infographic from ADWEEK shows Twitter stats, trends and suggestions on how businesses can drive engagement using videos on Twitter.

Infographic: Latest Twitter Study Sheds Light on Just How Well Video Is Doing

Notice how 82% of Twitter users interact with brands and businesses. Since there’s over 800 million monthly visitors on this platform, this number is one that can’t be ignored and should be capitalized on.

Live Video Streaming on Twitter

Just because Facebook is the Belle of the Ball right now, that doesn’t mean Twitter isn’t alive and kicking!

On May 2, 2017, Twitter announced its Live Streaming capabilities that involves 16 live streaming content deals in the areas of sports, news and entertainment.

The great news is, anyone can now post a live video on Twitter!

People love to come to Twitter to see and discuss the latest news and events so why not use a live Twitter video to showcase your expertise and provide insights on industry trends your followers would be interested in hearing about?

Twitter Video Ads

Twitter Video Ads are also a serious option to consider for any sized business.

According to several recent Nielsen Brand Effect Studies, people who saw videos ads on Twitter were 50% more likely to be aware of that business and became 14% more favourable towards that brand.

This then translates to an 18% higher purchase intention, which is achieving the ultimate goal all businesses have in their advertising efforts.

How to Post a Video to Twitter

Twitter allows you to record and post videos up to 2 minutes and 20 seconds in length. So before hitting the record button, plan out what you are going to say and focus on being concise, informative and/or entertaining.

How to share your video on Twitter from an iPhone or Android:

1. Using your iPhone or Android, you can record, edit and share videos straight from your Twitter app by first tapping the Tweet icon and then tapping the Photo icon.

2. Next tap the Video icon, or if you wish to do a Live video, tap on that option as seen in this image.

3. If you wish to reverse the camera so you can speak to your followers and show everyone what you are seeing, tap the reverse camera icon.

4. If you need more light, press the lighting icon at the top of your screen to enable the camera’s light.

5. Press and hold down the Record icon to record. You can pause and add more to your video by pressing down the record button again.

6. You have the option to do some editing to your video before posting by holding and dragging any snippet upwards to delete it. You can hold and drag sideways to rearrange your clips as well.

7. When done, tap on the Done button or you can preview your video before posting it to see if any further edits are needed.

8. Tap Tweet to share your video!

You can also use a pre-recorded video that’s either on your phone or computer by simply tapping/clicking the Image icon and selecting the video from your device you wish to share.

A cool option you can take advantage of in your content marketing efforts is to embed your video tweets into your blog for extra exposure.

What to Post in Your Twitter Videos

Strapped for ideas on what kind of content you could use for your Twitter videos? In a previous video eTip I provided 5 social media video marketing strategies you can use to help showcase your business that can give you some inspiration.

Keep in mind Twitter followers are coming to this platform with a “discovery” point of view. With Twitter being more focused on what’s happening in the current moment, capitalize on that by posting videos based on what is trending.

They can be your own personal opinion about news related to your industry or ask your followers to join in on the discussion to see how they are impacted by something that has happened in your industry.

Respond to someone’s tweet with a video. Doing this provides you with a great opportunity to have your followers get to know you more on a personal level.

How about asking your followers to share their own video of using your product in action? You could run a contest that would encourage this kind of user-generated content.

Get Busy Using Video for Twitter Content

No matter how you look at it, video is where it’s at with online marketing trends so why not use video on Twitter to help gain bigger and more exposure for your business?

Give it a try and test out some videos to see what works and doesn’t work for you. Be sure to keep an eye out on your Twitter stats to get the full scope of your efforts.

Article directories are websites that house free articles. These articles are usually put there by whoever owns the copyright to them as a promotion method. Each article has the owners byline placed under it so that those who eventually read the article will know who wrote it (or at least who owns it) and will be able to get in contact with or visit their website for further information.

Articles directories are a great place to put your articles so that they will make you money. By using this method, people who are interested in your product or service will see your article, view you as an expert in the subject, and will visit your website. Even if you cannot write or do not have any knowledge on the subject on which you are promoting (for example for you run an affiliate website), you can always hire a writer to do the work for you. Getting quality articles written will be expensive up front, but they will pay for themselves in no time, either through affiliate sales or selling your own services, and everything from then on is pure profit.

Let’s take a real-life example. Imagine that you are an accountant working from home. You write an article on an accounting topic and place it on various article directories. Those who are looking for the subject you wrote about will read your article, see that you have the knowledge and skill that is needed to do a job for them, and visit your website or contact you via e-mail. Your article just gained you a new client who may use your services regularly, but will definitely give you a nice profit at least once.

Furthermore, since you have posted it on a free article directory, others who have affiliate websites about accounting will inevitably use your article for their website. Since they must attach your byline to it, this will bring you even more exposure for every website that re-posts your article. This because you will be benefiting of off the traffic that they get to their website.

Segmentation marketing is a special kind of a marketing which is focused on separating a broad market into relatively small groups of consumers that are easy to identify and consumers who have similar needs and characteristics. This is how marketers know that this group of people will probably have a similar or same response to any marketing activity.

In the recent period, more and more organizations and companies are focused on segmentation marketing. This is not a surprise for many experts because this type of marketing strategy delivers many benefits. Some of these benefits include cost reduction, access to new markets, product development and business focus. In other words, segmentation marketing can contribute to the growth and increased efficiency. In order to get the most from this type of marketing, business owners and marketers must look for segmentation marketing ideas. One of the best ways to do this is to use customer behavior analysis.

The relation between customer behavior analysis and segmentation marketing ideas

Simply put, customer behavior analysis is focused on learning how individuals buy, when and what they buy and lastly, why they buy. This information can be quite useful for any organizations/company and successful companies are already using this specific kind of analysis to get effective segmentation marketing ideas. In this article, we will explain how to do this.

Why do they buy?

As previously mentioned, customer behavior analysis can help businesses understand why people are buying specific products. Learning more about the emotional reasons behind customers’ decisions will give you an advantage over your competitors. In this way, you can create personalized marketing campaigns that are targeting specific categories of people. After all, that’s what segmentation marketing is all about.

For instance, some customers may have a health issue and they need advice. This means that they are experiencing physical or mental pain that needs to be addressed right away. That’s why they’ll want to find a business that will calm them and help them solve the issue. The emotional aspect is much more important than the financial aspect in this case. A good segmentation marketing idea, in this case, is to offer free advice and suggestion to use one of your products/services.

How do they buy?

When we say how they buy, we mean how often and how do they learn where to buy services/products. By learning more about this, companies can set the right timing for their segmentation marketing activity. For instance, there are categories of people that are buying specific products once a week, once a month or every two months. In cases like this, you can use email marketing because this is a good way to target different categories of customers. All you need to do is to set a specific date when specific categories of customers will get notifications/emails. If you know the frequency of purchases, it is much easier to decide what kind of services and products you should offer. Customer behavior analysis can help you with that.

When we talk about identification of the source of information, it’s worth mentioning that there is a myriad of sources like this today. Once again, you can use customer behavior analysis to determine where do customers get the information from and is there anyone they listen to. Once you locate the sources which are usually their friends, colleagues, relatives, but also influencers, online reviews and websites, you will be able to use efficient segmentation marketing ideas.

Since many different categories of clients will probably want to visit your website before they make their final decision, it is crucial to publish content that is attractive to all potential clients. In this case, you would probably need to hire a professional writer to provide really engaging content that would build your brands awareness. College-paper.org is one of the most trusted writing services where you can find such a professional.

It is also important to consider whether customers are buying for others. This is a different market segmentation which requires different methods. Take these things into account and implement the solutions in your marketing campaign.

What do they buy?

In case a company has a wide range of services and products that are attractive to more than one category of people, it is a smart move to learn which specific products or services are bought by certain categories on a regular basis.

With the help of customer behavior analysis, you can get the right answer to this question and make the most effective decision. Additionally, you can use the result from the analysis to decide whether you want to keep offering all the products you have at the moment or limit your offer to 2-3 main services or products.

When do they buy?

This is a question that we have partially answered when we were discussing what they are buying. In the aforementioned example, we have concluded that when people feel the pain they want to get a suitable remedy. In the same way, a mother wants to buy a toy for her kid because it is his or hers birthday. In order to get the right segmentation marketing ideas, you need to understand what stimulates the consumers to make a purchasing decision. There are internal, external and seasonal types of stimulus. When you know their behavior you can come up with adequate marketing solutions. Use ads to remind customers what they need and when they need these things.

Final thoughts

So, customer behavior analysis is one of the best tools that you can use to evaluate your segmentation marketing strategy and to develop the most efficient marketing ideas. In order to witness success through this analysis, you must take different things into account.

First of all segmentation marketing means that you will have to identify the demographic, geographical and behavioral characteristics (customer behavior analysis) of your customers. The third point will allow you to learn more about their price sensitivity, usage rate, purchase pattern and brand loyalty too.

Additionally, you will need to analyze the market size, purchasing power, stability, measurability and reachability.

Segmentation marketing is a complex activity that requires a lot of time and effort and customer behavior analysis is a must for every marketing campaign of this kind.

6 Compelling Benefits to Jumping on the Video Bandwagon while the Momentum is Hot

Have you noticed seeing a lot more videos on Facebook lately? Not only have there been a plethora of Facebook LIVE videos, but I’ve also been seeing a trend of videos made from simple animations or static inspirational images with music added.

All because Facebook has declared video to be something people want to watch more than any other form of content.

Then there’s the popularity of YouTube, Snapchat, Twitter and Instagram’s video platforms and capabilities that makes using video hard to ignore in today’s business marketing landscape.

And it shouldn’t come to anyone’s surprise either. Think about how we have all been spoon-fed videos since young toddlers on TV.

The good news is, with the advancement of technology over the past few years, you no longer need to be an professional videographer or editor to be able to produce decent-looking videos, especially for a social media audience.

Still not sure if you should bother taking on the task of learning to do videos for your social media marketing? Take a look at some of these stats:

* A Facebook video receives, on average, 135% more organic reach than a photo.
* 73% of Business-to-Business marketers say video positively impacts their marketing return on investment.
* According to CISCO, 80% of all consumer internet traffic will come from videos by 2020.
* 10 billion videos are watched on Snapchat every day.
* More than 500 million hours of videos are watched on YouTube every day
* A Facebook video receives, on average, 135% more organic reach than a post with just a photo.
* On Twitter, videos are 6 times more likely to be retweeted than photos and 3 times more likely than GIFs
* Companies that use video in their online marketing efforts have been known to grow their revenues 49% faster.
* Businesses who use videos in their marketing enjoy a 27% higher Click Through Rate (CTR) and 34% higher web conversion rates than those which don’t (Aberdeen Group, 2015).

Pretty impressive, wouldn’t you say? But what can video actually do for you that will help boost your bottom line?

By incorporating videos into your business and social media marketing, you can take advantage of the following benefits:

1. Increase Your Target Market’s Confidence in You

Since trust is what relationship marketing is built upon, videos make a perfect fit to developing your target market’s confidence with your business offerings.

Because you want to create the “Know, Like and Trust” factor with your ideal client, there is nothing better than having your smiling face be in front of that market in order for them to see your personality, understand your level of expertise, and get an instant impression of you that will lead them quicker to purchase.

2. Boost Your Search Engine Rankings

Because people tend to stay on your site’s web page longer by watching a video, the search engine’s algorithms are interpreting that to mean your site is worthwhile. This will in turn boost your SEO rankings.

According to Moovly, your chances are 53x’s greater to be higher up in Google’s search results if your website or blog post includes a video.That coupled with Google’s ownership of YouTube, your chances of getting higher rankings are increased when your videos are also housed there.

3. Gain a Higher Social Media Reach

Getting more people to like, comment and share your posts on Facebook has been an increasing challenge for business owners. The good news is, video has been a shining beacon of hope where 76% of users say they are apt to share entertaining videos on social media.

If you make an effort to create fun and entertaining videos, this will increase your brand exposure and will, in turn, bring more attention to your business in an indirect way.

4. Enjoy Higher Website Conversions

Video marketing studies show that 74% of users who watched an video explaining or demonstrating a product ended up making the purchase.

So by simply adding a video to your sales or free giveaway page, you should see a significant increase in people signing up for your offering.

5. Save on Expensive Production Costs

With technological advancements we are seeing at an incredible rate, the great news is you don’t need to invest in a lot of expensive equipment to create well-made videos.

All you need is your smart phone and you’re good to go. So videos are now considered a cost-effective solution to getting in front of the masses in a format people are responding well to.

6. Take Advantage of Showcasing Your Offerings

A video is a great way to explain, demonstrate and showcase any kind of product or service offering you may have.

Whether you are promoting a new program or offering a free giveaway for list building purposes, adding a video to the landing page will help give the viewer an opportunity to see it in action and visualize its benefits.

So as you can see, there are lots of reasons to start using videos to enhance your marketing efforts that will lead to increased sales.

Unlike as little as 10 years ago, the cost of equipment and production has made video marketing much more affordable for business owners; however, this is not to say it’s simple, easy and a sure-thing for success.

Tim had always loved Seattle. Although he was not a native, he considered himself a native because he had lived in Seattle for so long. Originally from the Midwest, he had visited Seattle on a business trip and fell in love with the city. He loved the beautiful view of Mount Rainier from the city, he loved the music scene, and he especially loved the food! It seemed as though he was meant to live in Seattle.

Later, when he returned from his business trip, he walked in his front door and pronounced to his wife triumphantly, “Dear, we’re moving to Seattle!” His wife thought that this initial excitement would eventually wear away, but Tim made all the necessary preparations. He secured a position in his company at the Seattle office, selected an apartment to rent, and rented a moving van to trek across the country.

After years of living in Seattle, Tim’s love had not grown dim. While driving, he would frequently think to himself that Seattle was the only place for him. It seemed as though he was always finding new and exciting things about the city. The city was inexhaustible to him. He never grew bored.

If there was one thing Tim did not love, however, it was the Seattle traffic. Every day, Tim had to prepare himself mentally for his commute. Although in miles it was not far away from his house, all the other cars made the whole process a mess. It seemed as though every year the traffic would worsen. Although Tim detested the traffic, he would not let it get him down on the city. It was only a minor inconvenience.

This morning’s traffic was nothing new. There were cars in all the usual places. The on-ramp to the I-5 freeway was busy as normal. Tim merged into the stop and go traffic. His response to such heavy traffic had become habitual, almost unconscious. He pulled forward, the morning radio telling him the day’s news. Traffic picked up for a few feet, then stopped, then picked up, then stopped. Suddenly, while stopping, Tim felt a sudden jolt forward even though he had stopped. An abrupt burst of pain, like lightning, was sent shooting down his back. He quickly peered into his rear-view mirror to see that someone had slammed into the back of him.

Many people have been the victim of an accident just like Tim. While there are thousands of things to love about Seattle, most residents will admit that one thing they dislike is the constant, horrendous traffic. Whether you are on Denny Way between First and Fairview Avenue or driving the I-5 through downtown, during rush hour, these areas are bound to be severely congested. According to the Washington State Collision Data Summary, the number of collisions increases during rush hour, peaking from the hours of 3:00-6:00 in the afternoon. Unfortunately, the more drivers there are on the road, the more likely you are to be involved in an accident.

Sometimes, like Tim, there isn’t much you can do to prevent someone else’s bad driving behavior. For example, if someone behind you is looking at their phone or fiddling with their radio, a split-second crash can happen. Many insurance companies are aware of this. Some insurance industry estimates project that average drivers will file a claim for a collision about every 17.9 years. Sadly, even when the collision is not your fault, the crash can be costly. A serious car accident can result in expensive medical bills and property damage.

Traffic in Seattle ranks among the worst in the United States. The US News and World Report lists that people living in Seattle will spend an average of 66 hours a year in traffic! As the city continues to grow, the traffic continues to worsen. According to the TomTom Traffic Index, Seattle ranks as the sixth worst in the United States for its congestion levels. This ranking places it alongside cities like San Francisco and New York. Obviously, big cities will suffer from burdensome levels of traffic; however, more densely populated cities like Chicago, Houston, and Philadelphia all ranked better in terms of traffic than Seattle.

Infrastructure further intensifies Seattle’s traffic problems. Poor roads and bridges can contribute to worse traffic because the roads and bridges are unprepared to handle the increased number of cars each year. Washington State received a D+ on its infrastructure report card by the American Society of Civil Engineers for its roads. The report indicates that “the bulk of [the road and freeway system] was built more than fifty years ago and has lasted for longer and carries more traffic that it was originally designed for.” Similarly, the report identifies that poorer pavement conditions can increase congestion.

While there is an infinite amount of great reasons for living in Seattle, one of the downsides is the traffic. It is something residents just have to endure. The long commute can sometimes result in unfortunate accidents like Tim’s. As mentioned, some accidents can result in severe injury and property damage. When such an event occurs, sometimes being open to the idea of hiring a personal injury attorney can be a good option. A good personal injury attorney can help you recover lost wages, defer medical bills, and reach a fair settlement with the insurance companies. These benefits can offset the damages because of your accident.

The gas industry is about to undergo a huge update in June.

When will the update take place?
This update called Project Nexus, managed by Ofgem, will be ‘going live’ on the 1st June 2017.

The transition period for the update will happen during 23rd May to 6th June 2017, and will take place across the whole gas industry.

How will nexus affect energy customers?
As mentioned in our last post, new customers could experience some delay in switching energy providers as they would be unable to register during the upgrade period.

Why is the central gas system being updated?
The outdated system hasn’t had a big upgrade like this since the late 1990s, so by replacing the old system, the gas industry will see some major benefits with an increase in the system’s ability to receive, store and deliver data, ideal for supporting the rollout of smart meters.

What is changing? Independent Gas Transporters
Independent Gas Transporters (IGTs) of any size will be able to store and transfer information using the Xoserve central IT system, allowing suppliers to access relevant IGT data quickly and efficiently.

Formula year Annual Quantity and Supply Offtake Quantity (AQ/SOQ)
Replacing the current October cycle, the Formula AQ/SOQ will be fixed from April 1st to March 31st every year to fall in line with the changes to IGTs. These will be used to calculate transportation charges (with most cases being based on the Rolling Annual Quantity and Supply Offtake Quantity from December 1st the previous year).

Rolling Annual Quantity (AQ) and Supply Offtake Quantity
With the new system update, Xoserve will be able to provide more accurate figures for consumption and provide a new rolling annual quantity calculation every month (based on a meter reading being provided each month and dependent on settlement class).

Meter Settlement Classes
There will be 4 settlement classes, allowing accuracy to be improved in an effective way. Including changes to existing meters, the classes will be structured as follows:

Settlement Class

1 Meter points with a rolling AQ of over 58,600,000 kWh
1 Readings must be provided to Xoserve by 11am of following day of gas consumption
2, 3, 4 Meter points with a rolling AQ of under 58,600,000 kWh
2 Readings must be provided to Xoserve within 24 hours of following day of gas consumption
3 Readings must be provided to Xoserve daily but can be grouped together and issued weekly/fortnightly/monthly
4 Readings must be provided to Xoserve monthly or annually (dependant on size of AQ).

Unidentified Gas Charge Removed
Unidentified gas (UIG) will now be calculated in a different way to allow for an increase in accuracy in calculations.

A share of unidentified gas will be allocated between classes for distribution zones and shippers, replacing the old AQ allocation of Unidentified Gas charge(AUG).

To find out more about Project Nexus, visit the Ofgem website, or you can call BAS Energy on 0845 1800 700 or send us a message for more information regarding our gas procurement services.

Whilst there are ways BAS Energy can help a business to save money, there are also ways in which they can help themselves to be more energy efficient whilst being in the workplace.

Here are four different examples of how some businesses can save money and energy consumption:

Restaurants & Cafes
How to Save Energy & Money in Different Business Sectors – Restaurants & Cafes

Businesses in the food and leisure industry can save money on their energy by training their staff on efficiency usage measures and by installing energy efficient boilers and appliances across their kitchens and dining spaces.

They can look at green energy solutions such as biomass boilers which may be able to use waste products from the kitchens for a cyclical recycling approach.

Shops
How to Save Energy & Money in Different Business Sectors – Shops

The retail sector is a tremendously heavy user of energy where physical premises are in play.

Stores have lighting and heating requirements around the clock, so one of the first priority areas is to carry out a tariff review to see if savings can be made. Lightbulbs should also be switched to the most energy-efficient LED models.

If you have chilled units, keep them away from doors and keep them covered with blinds to prevent chilled air from escaping.

Evaporative condenser systems – rather than air-cooled condensers – are also recommended as being more energy efficient.

Offices
How to Save Energy & Money in Different Business Sectors – Offices

Heating and air conditioning is a real energy guzzler, and older systems are particularly inefficient and can also lead to health issues. Consider investing in the newer models and ask a specialist to review your premises with the view of recommending efficient heating and cooling methods.

New smart technologies can adjust the temperature automatically to optimise usage and bills. Similar technologies can be used in bathrooms to minimise water usage, such as smart sensor controls on taps. Intelligent light controls are also a worthwhile investment.

Making sure staff are turning off PC screens and electronic equipment at the end of the day should be a high priority. Action Energy, a government-funded body, estimates that £90m is wasted annually by UK companies that leave computers turned on when not in use. As well as energy and cost savings, there’s the environmental impact too, as reducing this would produce a saving of one tonne of carbon dioxide emissions a year.

Factories
How to Save Energy & Money in Different Business Sectors – Factories

Again, smart sensors can help to ensure that temperatures are optimised correctly in warehousing and production spaces, and staff training can help ensure that teams follow the correct efficiency processes and are motivated to seek out continuous energy improvements.

An energy efficiency consultant can be a valuable service to use in a larger factory as various efficiency savings may be possible, including running lines at certain times of the day, switching tariffs, using standby functions and investments such as combined heat and power installations, supply voltage optimisation and increased process automation.

Though we may have only looked at four examples here, all types of companies can benefit from making changes in the way they run their company to make savings on business energy.

Do you have ideas for a new business? Starting from small investors to millennials, everyone nowadays looks for good business ideas, but it is only a few of them who end up on the right path. So, how can you know if your business idea is worth the time and investment?
If you want to check your business idea and see if it is a solid solution for earning the good income, follow these 10 tips and tricks:

Browse Top Sellers
Look at websites such as Amazon to get some idea of what is selling. If you have a product or service in mind, take a look around to get an insight of whether this particular item will sell or not.
The first thing on your list is seeing if the category you are considering is existent on this website. If it is, your next step is to check whether this category of products has a wide number of competitors. The more companies there are, the bigger the demand for the product is.

Use Google Trends
Google Trends can help you get a bigger picture of the business idea you are considering. By checking out the latest trends, you will easily validate the demand, which is a key factor in your decision about starting the business.

Build an MVP
A minimum viable product or MVP is the simplest way to check your business idea. According to Eric Ries, an entrepreneur and author of “The Lean Startup”, an MVP is ‘the simplest form of an idea that you can actually sell as a product’. Having a simple version of your product for testing in the early development process is crucial if you want to make the necessary changes before the big investment.

Build a List of Customers
Use various tools and methods to build a list of potential customers that will purchase your product or service. This will not only help you determine if your business is worth giving a shot, but will also prove to be very beneficial once you decide to launch.

Run the Idea by Your Target Customers
Once you have an established for business, make a prototype and take it to the potential audience. Select the most appropriate method – speak to acquaintances that would be interested in the product, conduct a survey or even ask for help on the social media groups with the goal to check your business idea. “Identify people in that target you know to be skeptical and critical.” says Chip Bell, the founder of The Chip Bell Group.

Test the Product on the Social Media
According to Susan Solovic, one of the key things to take into consideration when making a business plan is the importance of social media. Once you get the word out about the product or service, you will get information on how much interest this produces with your target audience. You have to make engaging social media profiles with high-quality content. In this case, you can use such tools as Pocket, Hemingway App, Admission service.

Get an Expert’s Opinion
A wrong investment can present a serious failure, which is why you must check your business idea carefully. When in a struggle with various ideas, get the opinion of experts who can advise you on which business to start and how to promote it.

Use Landing Pages to Check Your Business Idea
Test out how well you can reach the target market and convert them into your customers. Conversion rates’ market testing is the best way to establish how your numbers will work with people and if these numbers are actually viable.

Ask People to Pay
If you test your product or service on friends and acquaintances or even people you randomly found on the Web, they are very likely to give you an email address or subscribe to your website. However, the best way to establish if they are really interested in a product is if you ask them to pay you money for the product or service.

Know the Competition
Of course, big competition indicates high demand for a product or service, but this can be a cause of many headaches that are about to come. Research and study the industry to analyze the best way to present your product since big competition means that only the best marketers make sales. Once you establish how to promote your product or service in the best way, you are ready to beat the competition.

Starting a business is a scary thing to do, especially if you are not experienced or trained in business planning. Even if you are, chances are your idea will fail due to a small number of customers, bad marketing strategy or enormous competition. However, if you make sure that your business idea is solid and you know how to make it happen, you are only a few steps away from becoming a rich man!