Discover some of the smartest ways to keep your business costs low.
Utilise digital marketing
An incredibly effective way to save money when running your business is to switch to digital marketing. The reason for this is that digital marketing offers an excellent result at a much lower cost than a print campaign.
Most businesses are more energy aware these days, after all taking care of the environment is a huge concern for everybody. However, what many companies forget is that along with being greener, finding ways to save energy in your business will also save you money.
Fortunately, there is a whole range of tactics that can help reduce your energy usage. For example, applying film to the windows of your premises can prevent the air from heating up in the summer, meaning you have to spend less on powering the air conditioning to create a comfortable work environment.
Similarly, investing in things like this recessed led lighting can help your business cut costs. This is because they are just as effective, and attractive as regular recessed lighting but cost a great deal less to run. LED lights also need to be replaced less often.
Invest in recruitment and retention
Sometimes to save money you need to spend money, and recruitment and retention is a good candidate for this. The reason it's a smart idea to invest in recruitment and retention is that it can save you a fortune in the long run. This is because employing someone that is poorly suited to a post, or your company culture can be very expensive, as can losing someone critical to your mission.
The good news is that will effective recruitment and retention, you can avoid these costs, and keep your recruitment budget as low as possible. All you need to do is identify both the key attribute that a new employee must have, as well as the things that will retain current employees and stop them from jumping ship to your competition.
Re-evaluate all your subscriptions
One of the most popular payment models for business services right now is subscription. Unfortunately, once you’ve signed up for multiple services, the cost can start to add up. Also, subscription payments are easy to forget about, which means you are probably paying out for something where you are not getting full value for money.
With that in mind regularly re-evaluating your subscriptions and the value for money you are getting from them is vital. For established businesses, it's a good idea to try and schedule this into your calendar once a year at least. For those businesses just starting up, reevaluating every three months is a good idea, as your needs can so quickly change as your business grows and develops.
Launching a startup is an exhilarating journey, but as your business evolves and gains traction, it's important to adjust your marketing strategies accordingly. What works for a startup might not be suitable for a scale-up. So, in this blog post, we will explore effective strategies for each stage of your business, from the early days of launching your startup to the exciting transition into a scale-up.
During the startup phase, building brand awareness is vital to establish your presence in the market. Start by defining your target audience and understanding their needs, preferences, and pain points. Craft a compelling brand story that resonates with your audience and clearly communicates the value you bring.
Leverage the larger social media platforms such as Facebook, Twitter, and LinkedIn to engage with your audience, build a community around your brand to share valuable content. Collaborate with relevant influencers or micro-influencers who align with your brand values to amplify your reach.
Doing your best to participate in industry events, both online and offline, can help you network, gain exposure, and create buzz around your startup. Investing in targeted online advertising campaigns, like pay-per-click (PPC) or social media ads, can also help you reach a wider audience and generate brand visibility.
The Growth Phase: Expanding Customer Base
As your startup gains momentum and enters the growth phase, expanding your customer base becomes a key objective. Refine your messaging to clearly convey your unique value proposition and how your brand is different from competitors. Collect customer testimonials and reviews to build trust and credibility. Implement content marketing strategies such as blogging, guest posting, and producing educational videos to establish thought leadership in your industry.
Optimize your website for search engines (SEO) to attract organic traffic and leverage email campaigns to nurture leads and convert them into customers. Consider implementing referral programs to encourage satisfied customers to refer your products or services to their network. Do your best to embrace data-driven strategies by looking at customer behavior to personalize your marketing efforts and deliver targeted messages to your audience.
The Scale-up Phase: Scaling Marketing Efforts
When your business reaches the scale-up phase, it's time to scale your marketing efforts too. Invest in marketing automation tools to help streamline your processes and improve efficiency. Develop personalized campaigns now based on customer segmentation and data analysis. Expand your content marketing strategy by exploring new formats such as podcasts or webinars. Collaborate with an expert digital marketing agency like Growth Foundry to amplify your reach. Finally, consider investing in public relations activities to position your brand as an industry leader.
The Expansion Phase: Entering New Markets
Entering new markets is a big milestone for any growing business. Conduct thorough market research to understand the local dynamics, competition, and cultural nuances. Evolve your messaging and marketing materials to resonate with the new target audience. Do your best to establish strategic partnerships with local businesses or influencers to gain quick credibility and reach in this new area. Leverage local advertising channels too, both online and offline, to increase your visibility in the new market. Then consider translating your website and marketing materials into any local languages to enhance accessibility and improve user experience.
The Maturity Phase: Retaining Customers and Innovation
In the maturity phase, your focus needs to shift to customer retention and continuous innovation. Concentrate on developing loyalty programs and personalized marketing campaigns to nurture long-term relationships with your existing customers. Gather customer feedback and implement improvements based on their suggestions. Then stay ahead of the competition by investing in research and development, constantly innovating your products or services, and communicating the benefits of these innovations to your target audience. Use customer success stories and case studies to showcase the value you bring to your clients and explore partnerships with complementary businesses to expand your offerings in new market segments.
The Mature Market Phase: Differentiation and Niche Targeting
In the mature market phase, competition intensifies, and it becomes essential to differentiate your brand and target specific niches. Carry out market research to identify untapped customer segments or unmet needs within your industry, then tailor your messaging and product offerings to cater to these specific new niches. Do your best to emphasize the unique value proposition that sets you apart from competitors. Finally, invest in market positioning and branding activities that will reinforce your unique selling proposition and build a strong presence where little competition exists.
The Social Responsibility Phase: Purpose-driven Marketing
As businesses increasingly embrace social responsibility, the social responsibility phase presents an opportunity to align your marketing strategies with purpose-driven initiatives. Integrate purpose-driven messaging into your campaigns, showcasing how your business is making a positive impact. Collaborate with nonprofit organizations or charitable initiatives that align with your mission to amplify your efforts and build partnerships that benefit both parties. Implement sustainable and ethical practices in your business operations and communicate these initiatives transparently to your customers.
The Post-Merger or Acquisition Phase: Integration and Rebranding
In the event of a merger or acquisition, it's crucial to develop effective marketing strategies for the post-merger phase. Start by aligning the messaging and branding of both entities to create a cohesive identity. Communicate the benefits of the merger or acquisition to customers, emphasizing how it will enhance their experience and bring additional value. Develop integrated marketing campaigns that leverage the strengths of both entities and highlight the synergies created by the merger. Rebranding may be necessary to reflect the new entity's identity, mission, and values. Ensure a smooth transition by providing clear and consistent communication to stakeholders, customers, and employees, emphasizing the shared vision and the combined strengths of the merged or acquired businesses.
Each stage of your business requires a tailored marketing approach. From building brand awareness in the startup phase to scaling your efforts during the scale-up phase and entering new markets in the expansion phase, adaptability and continuous innovation are key. By understanding the unique challenges and opportunities at each stage, you can develop effective marketing strategies to propel your business forward, build a strong brand presence, and ensure long-term success.
While you may love to post pictures of your personal life and your vacations on your social media, the way that you conduct yourself on social media in private is going to be very different to the way in which you conduct yourself in social media in public. For example, the way that you act online can impact the job if you're not careful. There is a blur between personal and professional life when it comes to social media.
Anything you can and do say online stays there forever even if you delete it. Social media can be excellent but it can be full of pitfalls, so if you do say something online that could lead to a lawsuit, you're going to need a social media expert witness to back you up. Your activity including stealthy likes can come back to haunt you and the one thing that people are surprised to learn is that an employer can not only see your LinkedIn profile but they can see every single post that you've commented on or liked or shared. You have to be so cautious in what you react to because those around you can see it. So, with this in mind, here are some of the do’s and don'ts that you should consider when you are navigating social media in a professional manner.
Do be respectful of others. It's so easy to slip into a social media argument. You might have strong opinions about something and other people will have strong opinions about something and if you voice them online your boss could see it. Attacking other people online is not a good idea so you should start using your best judgment about your own posts as well as what you comment. You need to make sure that you are an adult which means being mature.
Don't post about politics. A heated conversation often comes up from politics, but one thing that you will find is that your politics may not align with your employer. If you follow on the ladder in a professional sense, then there's every chance that you will have very different political views to your boss who will be running a business and looking for those tax cuts that may come to his political party but not yours. You need to ensure that you're not taking any controversial stances where possible, especially not in public on social media.
Do have a LinkedIn. Having a presence on LinkedIn is going to help you in your quest for a new job. If you want to be noticed professionally online for a good reason then you need to have a LinkedIn account. The content should be grammatically correct and spelled correctly as well and that you should ensure all jobs and titles are as accurate as possible, to. It's an important tool for networking and professional brand building, so make sure that you have a complete profile.
Don't over share. Your personal information on social media can be shared at any point and oversharing is going to land you in hot water. If you have too much going on on your social media then it's time to take a step back and see if you can minimize how much time you spend on it.
If you have been feeling the pinch from the cost of living crisis then you are not alone. There is a huge percentage of people who are struggling to pay their bills. If this is you then you may be looking for other ways to pay your bills. If you are looking for side hustles to help you earn some extra cash then take a look below for some ideas and inspiration.
If you have a background in looking after children then you can make some extra cash offering your services to families who need childcare. There are plenty of families who will be looking for competent, qualified people to look after their children. This can be while they are working or going out on a date night. There are websites you can use to list your services so that parents can find you. Here you can say what your experience is and how much you charge per hour or session.
Tutoring
You may feel that looking after children isn’t for you but if you enjoy working with them then how about you offer to tutor? Tutoring can usually be done with children from the ages of around four to 16. If you have any experience or teaching experience with these ages then you can earn money from tutoring. Tutoring differs from usual childcare or babysitting as carers and parents usually want someone who is experienced in this field. Check out some of the various websites and companies that are hiring tutors.
Pet Sitting
If you love animals and have had experience with many different ones then you could offer your services as a pet sitter. There are people who are reluctant to leave their beloved pets in kennels or boarding places. They would much rather their animals be looked after in their own environment. This is where you come in, you usually have the choice of staying in the pet's house or popping in and out when they need feeding or walking. You might need certain experience and qualifications for you to get a steady list of clients. There are websites where you can list your availability for people looking for pet sitting. Alternatively, you can also list your services on your social media pages for friends and family that need care.
House Sitting
Similarly to pet sitting, you could also help out people with house sitting. House sitting is a little bit more serious than looking after someone’s pet. With house sitting, you will usually be situated in the house while the occupants are away. This means you will be using everything in the house and treating it as your own while you are looking after it. If you have no other responsibilities then this could be the perfect opportunity to earn some extra cash.
People often go away and leave their homes unoccupied but this is becoming more and more risky. If they hire someone to watch their home then there is less chance of something like a break-in happening. You will need to be a trustworthy and kind person in order to get a list of clients for house-sitting jobs. Try and gain references that you can show potential clients when you meet them.
One way to make a bit of extra money on the side is through blogging. There are many subjects that you can blog about, it is all about finding your niche in the blogging world. If you are not sure where to start but know it is something you want to do then you can look up some blogging tips online. This will give you lots of advice on how you can create an award-winning blog with a huge following. The key to blogging is to find the things that people can connect with and want to read about. This could be anything from coping with medical conditions to cooking with the family. There is a lot of money that can be made through blogging, you can work with companies to promote their brands for instance.
Freelancing
There is something else that you can do in your spare time that will earn you some extra money and that is freelancing. You may be wondering what this is and how you can get into it. This is a very niche field and you will more than likely need a specialist subject to make money. For example, if you are great with numbers then you could look into becoming a freelance accountant. You can advertise your services on various freelancing websites, here you can list the hours you work as well as your hourly fee.
Paid Surveys
Something that pays very little but can build up if you leave it alone is paid surveys. You will only get a tiny amount per survey but it is all worth it in the end. There are a few sites you can join to take part in these surveys. Some sites will pay more than others so it is worth doing your research. For example, there are tv surveys where you get paid a bit more for watching something and giving your honest opinion on what you watched.
DIY Jobs
Finally, if you are a dab hand at all things DIY then how about you become a local handyperson in your spare time? You may be thinking about ways to make some money alongside your current job. If you have experience with flat-pack furniture or painting walls then local people will want to hear from you. You can advertise your services as a handyperson pretty much anywhere. This could be on your social media pages or even in the local shop window. If people struggle with DIY-related tasks then they will more than likely want to hire someone to take the stress out of doing it themselves.
We hope you found this article helpful and that it gave you some ideas on how you can earn some extra money on the side. This can be used for whatever you want, it could be your bills or a nice little vacation with the family.
Let me start by saying that I'm not an AI hater. In fact, I love the idea of AI and have been following its development since it was first introduced to the world in 1956. The Dartmouth Summer Research Project on Artificial Intelligence (known as Project MAC) was a seven-week intensive program that brought together a small group of students interested in computer science—including luminaries like Marvin Minsky, John McCarthy, Nathaniel Rochester and Claude Shannon—to focus their attention on creating machines that could think like humans do.
AI is taking over the world
AI has already taken over the world.
It's taken over our jobs, our homes and our lives in ways that we can't even see yet. You might not have noticed this because it's been happening slowly over time. AI has been creeping into every part of our lives since its early days as a science fiction concept and it will continue to do so until there are no more humans left on earth—or at least until humanity becomes extinct.
It would be easy to say that AI will only replace mindless tasks like filling out paperwork or designing houses but in fact much higher-level tasks like writing articles are being done by machines right now! The machine learns from examples given to it by people who know what they're doing (you), then it improves upon these examples with software algorithms until eventually the result is a beautiful piece of writing that makes any human writer jealous.
AI is cheaper
AI is cheaper than hiring a human. There are two reasons for this:
The first reason AI is cheaper than hiring a human is because AI can do repetitive tasks for free. You don't have to pay an employee every time they perform the same task, like publishing articles on your blog or updating your site's social media accounts. This frees up your budget and makes it easier for you to focus on creating content that will attract more readers (and customers).
The second reason why AI is cheaper than hiring a human has to do with how much money it costs to train them in the first place. Think about how much time and money goes into training a new employee who isn't familiar with what they'll be doing at work—you have to set aside part of their salary toward training them so they can start doing their job right away! That doesn't happen with AI tools; companies buy access once-and-for all without worrying about ongoing fees after the initial purchase price has been paid off by savings made during implementation stages
AI is more efficient
Let's say you're the CEO of a major media outlet and you've decided that AI is going to replace blogging. You want to see how well it works, so you hire a team of researchers to write an article about your company. They've been working for months, but only managed to produce one article during that time.
You're not satisfied with this result, so instead of hiring more human writers (who are typically very expensive), you decide to try AI instead. First thing's first: what kind of articles should we test? Let's say we already have some content on our site dedicated specifically toward startups—why not use those as templates? We can easily feed them into a neural network and see what happens!
Now comes the hard part: getting the neural network up-and-running and learning how best (or worst) utilize its capabilities as an automated writer.*
AI is faster
AI is able to write faster than any human.
This is because of its inhuman speed.
AI can produce content far more quickly than a human, and it can also read, understand, digest and respond to content at light-speed.
And AI has no need for sleep or food – it can write 24/7 365 days a year without eating or sleeping!
AI is free of human biases
AI can also be free of human biases, which are often a result of social pressure or emotional bias. While many people like to think that they're immune to the effects that other people have on them, studies show we all feel pressure from our friends and family members, even if we don't realize it. This can make us feel uncomfortable when we disagree with others in our group about something important (like politics or religion) and cause us to change what we believe so that we won't stand out as different from everyone around us.
AI doesn't experience these pressures because it's not influenced by emotions or social norms. It doesn't care if other people disagree with its decisions; it only cares about making accurate predictions—and if your blog posts don't match what the AI predicts will get more clicks, then there's no reason why an AI would keep writing those kinds of posts!
I'm scared
I’m scared. We all should be, because AI is going to take over the world and replace us with robots. It’s scary to think that something inhuman could think and act like you, but it’s also exciting for the same reason. I don’t want to be replaced by a robot (or any machine), but I also want my writing skills to get better.
AI will enable people who can't afford editors or writers to create content they wouldn't otherwise have been able to make themselves — potentially giving voice to marginalized communities who lack access to traditional publishing channels because of their economic status or cultural identity.
Conclusion
So, what does all this mean for you? Well, if you’re a blogger or a content creator, then it means that there’s no reason to be scared. AI isn’t going to replace the need for human writers and content creators. Instead of worrying about whether or not your job will be taken over by robots, focus on honing your craft and creating compelling stories. If anything, AI can help us do our jobs even better by making sure that we stay up-to-date with current events and trends so we don’t fall behind our competitors in an increasingly competitive industry!
If you are a store owner looking to maximize your brand visibility without breaking the bank, you have come to the right place. There are many inexpensive strategies that can be used to help promote your store's brand in an efficient and cost-effective manner. Below we will explore six of these budget-friendly tactics so that you can get started on building up your brand recognition today.
Social media is a powerful way to reach potential customers and promote your brand for free. Create profiles on the most popular platforms like Facebook, Instagram, Twitter, and YouTube. Make sure that you keep the content interesting, relevant, and up-to-date in order to engage with followers.
In addition, you can use social media to engage in conversations with other brands, customers, and influencers. Utilizing these connections will help you build relationships and get your store's name out there.
2) Leverage Email Marketing
Email marketing is another excellent way to reach potential customers and keep them updated on your store's new deals or special promotions. Craft a compelling story that speaks to the values of your brand and make sure it stands out from other emails in the inbox. This could include offering discounts or free products for signing up for an email list. Additionally, try segmenting your email list into different categories so that you can target specific groups of people more effectively.
3) Engage in Community Outreach
Participate in community events or sponsor local charities. Doing so will get your store's name out there and can showcase your commitment to the community. In addition, it is a great way to reach potential customers who may not be familiar with your brand yet.
4) Develop Influencer Partnerships
Influencer partnerships are another cost-effective way to promote your store's brand by leveraging the power of influencers' already-established relationships with their followers. Reach out to influencers that align with your store's values, offering them free products or discounts in exchange for a shoutout on their social channels.
5) Use Vinyl Stickers
Vinyl Stickers are another inexpensive strategy to increase brand visibility. They are easy to print and distribute and durable enough to last a long time. Consider giving out vinyl stickers with your store's logo at events or by mail. They are also great for surfaces like walls or windows, which can be used to show off your branding even when your store isn't open!
6) Generate Word-of-Mouth
Word-of-mouth is a powerful tool for any business. Give customers a reason to talk about your store and share their experience with others by providing excellent customer service, offering deals or discounts, or hosting special events. These efforts will go a long way in increasing brand visibility in an organic manner.
Utilizing these six budget-friendly strategies allows you to maximize your store's brand visibility without breaking the bank. With some careful planning and creativity, you can easily spread the word about your store and gain more awareness of your brand!
