From our friends at Invaluable…
Nostalgia marketing can be an effective way to reach your audience. By associating something with a longing for the past, something consumers have already grown to know and love, you can create sentimental feelings which makes people increasingly willing to invest in a product or service. To induce nostalgia into marketing campaigns, we can learn a lot from successful advertisements of the past.
Cultivating brand loyalty is an important factor in building a successful brand. Research has shown that customer acquisition costs as much as five times as much as customer retention, meaning that there’s a big ROI on marketing to existing customers.
But, in an era of convenience and instant gratification, just how loyal are customers to brands? And what influences that loyalty? To find out, Wikibuy surveyed 5,000 Americans on their feelings toward brand loyalty in 2019. Read on to see what they found.
From our friends at Lexington Law…
There’s no right way to make money. If you’re like most Americans, you put in 40 or more hours a week at a job, earn a wage, and go home. But as Warren Buffet puts it, “If you don’t find a way to make money while you sleep, you will work until you die.” That’s where passive income comes in.
Passive income can be beneficial for those already working full- or part-time gigs because the money you earn isn’t directly tied to the hours you put in. While it’s not possible to earn money for doing absolutely nothing, it certainly is satisfying to sit back and watch the money roll in when you’re not actively working.
Owning a successful business is a goal that many people have. Yet, a lot goes into being an entrepreneur. It’s easy to think about the end product, but the process of making the transition from dream to reality takes a lot of planning and preparation.
Starting a business consists of many challenges and rewards. One worry is money and how to go about staying afloat in the beginning. Depending on the type of startup you pursue, you may be able to launch a venture with little cash. However, to truly grow a business, you need to give your enterprise all that it needs. For example, if you decide to work from home, you still need to pay utility bills and potentially upgrade office equipment to give your business impetus. Having a cash buffer is prudent, not only to support yourself financially but to ensure you can be adaptable to future emergencies. Do you intend to work a day job initially? You can build up cash flow to put into your business through freelancing. There are plenty of options available, from graphic design to tutoring. Rates will vary, but it offers important flexibility to let you focus on developing your business plans while accruing essential capital.
From our friends at Valpak…
Customers. They are one of, if not the most, important factors for any business’ success. As a business owner, you should be on the pulse of ways to improve your customer experience. A positive customer experience will turn a happy customer into a loyal brand ambassador who will be happy to leave a positive review or refer your company to friends and family. This, in turn, helps to grow your customer base and improve your overall success.
Building a consistent and positive customer experience doesn’t come without time and effort, however. One way to do so is through personalization. Customers seek a personalized and custom experience that is tailored to their pain points or interests. For seven ways to personalize your business and improve the customer experience, check out the infographic by Valpak below. It includes specific tips and examples of each method from the big guys, like Nike or Costco.