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3 New Year resolutions for your business

Written by Clive van Deventer on 06/01/2016 5:06:10 PM 0 Comment

clive.png2016.  It feels like each year comes around faster, but in a world steeped in new technology, nothing stays the same for long.  While 2015 revolved around a frantic shift to digital, 2016 will take the focus to the way digital interactions are playing out in the consumer space.  To keep up in a fast-tracked world, here are three New Year resolutions to consider in your business. 

Talk to millennials

Millennials (consumers in the 18-35 age bracket) are a market ready to spend - so if you are not tailoring your marketing efforts to this tech-savvy crowd, you’re missing out on a big slice of the market.
As a whole, millennials are more connected, discerning, selective and empowered when it comes to spending than any other group of consumers, and their habits are ingrained in digital channels.  Because of this, they're looking for the most value at the most competitive cost.

To really keep up, companies should tailor their marketing strategies to millennials, who take up new technology faster and care about bigger issues impacting the world.  Find out what topics lie closest to their heart and start relevant conversations around your brand on the platforms they are using.  In return they will talk about your business favourably on social media channels.  

Be certain of what your brand stands for

Staying true to your brand and keeping a clear vision of what you stand for will not just present your business definitively to the market, but help you stay connected to your customers.  While every company evolves and few arrive at what they initially set out to do (Google started off selling page ranking tools to search engines), sticking to your core values and keeping your message clear will build a deeper recognition of your brand among consumers. When it comes to successful branding, simple positioning will cut through a cluttered market.  

Anyone who tells you that branding is nothing more than packaging or a superficial way to elicit a response should question their own approach. A brand should be ingrained in every layer of the business and speak transparently to the market. The most sincere and genuine brands have the power to shape conversations, shift paradigms and change consumer behavior – all very powerful stuff!

Consider the outcomes of digital instead of just digitising

The digital shift is in full swing, but it’s a topic so widely talked about, listeners are growing weary.  So while it’s important to live and breathe digital, take the conversation up to the next level and consider how the outcomes are shaping your business and impacting your market.  When QR codes first came out, many marketers argued they didn’t break into the mainstream market because they weren’t presenting a compelling enough solution for consumers. Now QR codes are being used with a more purposeful application such as mobile wallets that are revolutionising payment systems. bucqi, a new rewards app attracting cash-paying customers to Bartercard merchants, lets consumers make transactions and earn rewards at the same time without pulling out cash or cards – they simply scan a QR code and the payment is processed in a matter of seconds.  So in 2016, take a closer look at the experience your customers are taking away.

Being in business isn’t for the faint-hearted and even the most successful entrepreneurs have dismal days.   It’s inevitable that things won’t always turn out the way you planned, and while you can’t always control the outcomes, you can control the way you react to them.  So roll with the punches and celebrate the wins along the way.  And rather than focusing on the outcomes, set intentions that will help you make better decisions in your business every day.

Topics: branding,, QR codes, mobilepaymentsystems, digital shift, brandmarketing, digital, mobilewallets, millennials

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