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Archive for the ‘Trends & Opportunities’ Category

Using Social Media to Your Advantage

Monday, December 13th, 2010

 

For the past two years, many companies have embraced social media for business use. With a recent change of policy, Facebook has especially become the favorite platform for many companies. Social media indeed is an excellent way to increase your company’s online presence. When used appropriately, it can be a very effective online marketing tool. However, it should be said that not all types of business will receive the same marketing benefit when it comes to social media. For those that have established a Facebook fan page, or if your company is considering doing so, we have the following suggestions.  

As with any marketing tactics, it is important to first determine who your target customers are and whether or not you will reach the intended audience by using this medium. A little market research such as understanding your demographic and their social media habit will help tailor your fan page and the information posted to suit your audiences’ needs and interests.

Once you have a target audience, it is important to have a plan in terms of how you will use your soap box. Are you aiming to increase your brand awareness, or are you in this to increase sales? Will you educate your fans about what you do, or will you provide discounts and promotions? There are limitless ways in how to use Facebook, or social media in general. It is crucial to have a clear goal and plan in how YOUR company is going to use it. It is important to adhere to your brand image and provide you customers with consistency in your marketing message and social media posts. 

Once your fan page is live, it is important to grow your following and encourage interaction. By making your Facebook page or social media platforms easily accessible and visible on all of your marketing mediums, you will have a better chance at getting your social work for you.  If you have a website, a twitter account, a company blog, or a LinkedIn account, connect your Facebook page to all of them. Without actively promoting your social media, your audience may not be aware of the presence. You can also join forces with other businesses (strategic alliances) and display your website on their Facebook pages and vice versa. This creates an opportunity to publicize your company to your alliances’ networks.

Being consistent is crucial when starting a Facebook page or any social media platform. You want to capture your audience and provide them with repeated exposure to your business and what you have to offer. They signed up for your page because they are interested in your business and the information you provide.  Updating your page regularly will keep their interest and encourage interaction.

Top 10 Risks for Business in 2010

Friday, August 27th, 2010

1. Regulation and compliance

2. Access to credit

3. Slow recovery or double-dip recession

4. Managing talent

5. Emerging markets

6. Cost cutting

7. Non-traditional entrants

8. Radical greening

9. Social-acceptance risk and corporate social responsibility

10. Executing alliances and transactions

Below-the-radar risks: inability to innovate, maintaining infrastructure, emerging technologies, taxation risk and pricing pressures.

These may emerge to top the lists in years to come.

Contact Pinpoint Tactics to see how you can mitigate some of these business risks.

Source: Ernst & Young Business Risk Report 2010

How Do Small Businesses Identify Opportunities

Monday, October 12th, 2009

Small business owners are always interested in learning ways to identify growth opportunities. Too many of us, though, get side tracked by the daily activities of running a business and forget to pay attention to opportunities that are right before our eyes. Before we know it, they have come and gone.

Pinpoint Tactics was contacted by Ms. Alexandra Lopez-Pacheco of Financial Post in September to help readers of National Post be more attentive to business development opportunities.

Happy reading!