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CHRISTIAN ENTREPRENEUR

ARE YOU A NEW ONLINE BUSINESS OWNER AIMING TO HAVE A COMPETITIVE ADVANTAGE? READ THIS!

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ARE YOU A NEW ONLINE BUSINESS OWNER AIMING TO HAVE A COMPETITIVE ADVANTAGE

ARE YOU A NEW ONLINE BUSINESS OWNER AIMING TO HAVE A COMPETITIVE ADVANTAGE? READ THIS!

Do you have an idea or working on developing your idea into a new business, but wonder if there’s too much competition in the industry for you to succeed? One thing is sure; the presence of other businesses in your niche doesn’t mean your business won’t make it. When you have a healthy competition, it means there’s a market for what you’re planning to offer.

Competition is normal, and the key to helping your business break into the market with a competitive advantage is to offer something your competitors don’t, do what they don’t do, or reach out to customers in a way that your competitors don’t.

However, for you to know the angle to capitalize on, you need to understand your competitors’ weak points. In this blog post, we x-ray some of the ways you can seek out your competitors’ advantages and weakness so you’ll know how to approach the competition.

 

Explore Your Competitors’ Sites

This is one of the biggest steps you should take if you mean to know what your competitors are up to. Set aside time to visit the competitions’ website and go through every page and link to ensure you cover all areas. Some of the things you should be looking out for include;

  • Which products or services do they sell and where do they feature them?
  • How easy did you find their products?
  • Does their website allow you to filter through product categories for you to make a selection?
  • Which call to action do they use to encourage customer conversion?
  • What neighborhood do they serve? You should know this for you to be able to recognize your immediate competition and your indirect competition.
  • Which form of contact process do they use? Contact form, contact details or both.
  • Do they have an easy to navigate check out and shipping process?
  • DO they have shipping/return/refund policy and how easy is it?
  • Is there website professional and organized or amateurish and cluttered?
  • How fast is there website?
  • Is there website mobile responsive?
  • What payment methods do they accept?

Take notes on each website you visit. You’ll get a sense of which areas they’re weak in and how you can offer a better customer experience in those areas. When you carry out an in-depth website analysis and make strategic decisions based on your findings, you’re sure to have a competitive edge.

 

Keep Tabs on Your Competitors’ Social Media Accounts

This is called Social Listening. Social Listening, which is keeping tabs on your competitors, followers, and industry on social media, helps you stay informed on what your competitors are doing on social media. As you may know by now, social media is a great tool when it comes to capturing leads and engaging with customers. You can look out for what they’re promoting, how their followers are responding, and what types of conversation they have with their customers on social media.

You can either do this manually (which is stressful) or use social media tools like Hoot suite to follow and analyze competing companies and brands and also follow conversions around specific keywords. With active social listening, you can find out areas where you can outperform your competitors based on the things they don’t do right.

 

Always Check your Competitors’ reviews

Reviews are comments/appreciation dropped by customers after buying a product or getting services delivered to them by a brand. Scoping out your competitors’ reviews can give you a sense of what customers like most about your competitor’s product or service delivery. It also tells you what they’re dissatisfied with and what they’ll like to see from a business in the industry.

With this information, you can make necessary adjustments to your own business as to give your customers the best customer experience which will lead to them leaving you an excellent review, coming back for more, and referring others to you.

 

Carry out a competitive SEO Analysis

A competitive SEO analysis can help you find out ways to outrank your competitors in search engine result pages (SERP). This goes beyond the normal studying of the competition’s website explained above. It includes;

  • Identifying keywords that customers search for that your competitors don’t focus on.
  • Researching, ranking and comparing keywords
  • Incorporating the most relevant keywords in your SEO strategy and website content.
  • Developing relevant contents which include keywords and answers popular questions among customers.
  • Optimizing your pages, section titles, tags and meta descriptions with relevant keywords.

SEO analytics requires a full-time commitment and most times you’ll need appropriate tools to get expected results. Depending on the web hosting plan you choose, you may get SEO services as part of your hosting plan.

 

Conclusively, monitoring your competition takes time and effort, especially when you’re just getting started. In addition to the avenues mentioned here, there are other channels to monitor your competition. Though it takes your time, effort and resources, the time you invest in it is worth it as monitoring your competition will equip you with the information you need to make strategic decisions for your business.

When you know what your competitors are missing, you’ll know how best to meet your mutual customers’ needs, earn their loyalty and as every business owner wishes, grow your business to greater heights.

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CHRISTIAN ENTREPRENEUR

How to Improve your Online Business Presence as an Entrepreneur

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How to Improve your Online Business Presence as an Entrepreneur

How to Improve your Online Business Presence as an Entrepreneur

One sure way to lose out on potential clients in today’s business world is by not making enough effort to establish a stronger online presence. As a business owner in the 21st century, one of your main priorities should be to set up a solid online presence for your business.

This goes beyond just setting up social media accounts, it includes efforts to establish a positive image and create a unique brand. No better way to make a name for yourself. The problem is that millions of businesses are also trying to stand out on the internet, each trying to establish a stronger brand presence on LinkedIn and Facebook. This is where you have to make the extra effort to stand out. Everyone is using the same overused social media strategies, so you have to do a lot more than the basics if you intend to be noticeable.

How to Improve your Online Business Presence as an Entrepreneur

So, here are four simple methods that will help you improve your online presence and get more customers.

  1. Show the face behind the brand

Gone are the days of impersonal brand presence online. There are so many businesses competing on the internet that you have to show the human side of your brand to be noticed. Show the faces behind your brand occasionally, share your interests with the audience from time to time, there is no better way to make yourself relatable. Ensure you remain transparent in all your social media dealings as social media scandals are often hard to recover from. Remember to use these accounts to network and create professional relationships that might be helpful to your business.

2.  Chose Your Social Channels Wisely

The importance of a social media presence cannot be over-emphasized. However, this doesn’t mean you must be seen on every single social media platform. Focus on quality over quantity. You can focus on two or three important platforms, for instance, Instagram, Twitter, and Facebook. These platforms are great for marketing and keeping in touch with the client base simultaneously.  Remember to create your valuable content alongside sharing others’ content occasionally. When sharing content created by others, never forget to share credit, and when creating content ensure that it adds value and would not be seen as offensive by any group.

  1. Create a Website and Optimize It

It is unbelievable, the number of businesses that do not own websites. Customers’ minds are so much more relaxed if they can find a website for you when they Google your business. So hire someone to create you an optimized website. Learn about search engine optimization so that your website comes up top of Google results when searched. Also, optimize your site to be mobile-friendly as millions of people around the world only access the internet via their mobile phones. So make sure that when people visit your site via their mobile phones, the site remains user-friendly and generally easy to navigate. Otherwise, you lose clients.

There are so many competitors online that when customers encounter constant hitches on your site, they tend to instantly move away to other sites offering the same service. This means that your site must never take too much time to load. Make it as easy to use as you possibly can so that the user experienced is optimized.

While still on the topic of creating websites, also remember to register your business in directories. Get your brand registered on ‘Google my business, so that when people search your brand, your business, website, and contact details pop up. You’d be amazed at how many clients could find you this way.

  1. Protect your customers’ data

We hear of cases where sites are hacked and customer data leaked to the entire world. Such incidents could lead to people not trusting your site enough to enter sensitive information, especially if these data leaks become a frequent occurrence. Long story short, make sure your website is 100% secure at all times.

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CHRISTIAN ENTREPRENEUR

Driving Business Transformation through Technology as a Christian Entreprenuer

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Driving Business Transformation through Technology

Driving Business Transformation through Technology

In the past decade, there has been a lot of talk about integrating digital technologies into all aspects of a business. This is also known as digital transformation. It entails changing the way businesses operate and how they deliver service to customers. It also involves continuous experimentation and constant change from the status quo.

Driving Business Transformation through Technology

In digital transformation, you try to use digital technologies to make newer and better business processes, business culture, and customer experiences that meet current market requirements. It goes beyond traditional business roles and focuses instead on more efficient ways to engage with customers. It describes the move from excel spreadsheets to perpetual inventory software, basically doing business in smarter ways, backed by the latest technology.

In today’s world, when starting a business, no matter how small, it is advised that you set it up with digital processes rather than use old methods and hope for transformation. Building up a digitally transformed business involves bypassing handwritten ledgers from day one and using the latest computer software to plan and organize.

A business cannot embrace digital transformation without first understanding the full potential of technology. This involves calculating how much faster you can make your business processes using technology as opposed to the traditional way of doing things. You also have to master adapting your business processes to the latest technology advancements.

Netflix is a great example of a company that embraced digital transformation. Before Netflix, everyone had to go to stores to sort through shelves and pick out a movie, with Netflix everyone can sort through thousands of titles in digital libraries from the comfort of their homes. This updated business process has driven everyone from the brick and mortar movie renting stores to Netflix.

Netflix is a movie mail-order service, but through years of leveraging the latest technology, they are now a major competitor to traditional TV networks. Unlike cable television, Netflix offers a huge library of on-demand content in one place at the same time at very competitive prices.  Thanks to digitalization, Netflix can not only stream content directly to customers but also gain insight into their movie-watching preferences.

 

4 Main Areas of Digital Transformation

 

Having familiarized yourself with the topic of digital transformation, you must be wondering how to leverage technology to drive your business forward. The Harvard Business Review describes four major areas of digital transformation, namely: technology, data, process, and organizational change capability.

Technology

Technology refers to such things as artificial intelligence, the Internet of Things, blockchain, and data lakes, all these hold so much potential for new businesses. To leverage technology, you must not only teach your staff how to use technology to make business easier, but you must also watch out for the latest technology and regularly update their training so that their knowledge is up-to-date. When it comes to technology, the mistake many companies make is that they invest in so much technological hardware and software without taking the time to train staff thoroughly on how to use it. You can avoid this mistake by hiring people who have technical depth and breadth.

Data

A lot of companies today do not know how to efficiently utilize all the data they get from customers every day. These companies do not keep up-to-date data that can be used in formulating business strategies. They are aware of the importance of this data but completely ignorant of how to gather and utilize it. Hiring a trained IT person would be the perfect way to avoid any shortcomings with data in your business.

Process

Transformation needs an end-to-end mindset, trying to find new ways to meet clients’ wants, a flawless connection of work actions, and the ability to manage across silos going forward.

Organizational Change Capability

In the area of organizational change capability, one would consider issues such as emotional intelligence, teamwork, leadership, courage, and other elements of change management. Luckily, there is hundreds of literature available on the topic of organizational change, so the manager responsible for digital transformation as it relates to organizational change must be someone well-versed in the topic. There is an unconfirmed theory that states that people who gravitate toward technology, data, and process are to some extent less likely to be good with the human side of organizational change. Therefore when hiring organizational change managers, organizational leaders should try to go with managers that have excellent people skills.

Conclusion

Digital transformation is a lot more than just bringing your organization’s digital technology and processes up to date; it also has a lot to do with profits and shareholders. Many shareholders are hesitant to invest their business proceeds in the digital transformation of their businesses when they are not sure if this investment will pay off. However, one must assure them that digital transformation always pays off especially when done strategically. In the long run, digital transformation can improve stock prices and profits. Several companies have invested fully in digital technologies and have great stories to tell to show for it, the changes may not come overnight, and the financial improvement would be felt massively over time.

Think of a business that everyone thought was dead at some point, just for a digital leader to come along and revive it using modern digital perspectives. In today’s world, rather than just sell products, brands have begun to aim at enriching people’s lives, in general, using technology. Whether it’s by finding ways to sell your products and services online to make access a lot quicker and easier for customers; or by running social media pages where your business offers general life tips to followers.

A commitment to digital transformation especially when there are resources to back it up can turn businesses with lagging profits into industry leaders. While there are of course several risks involved, many businesses today have proven that finding digital solutions can lead to long-term financial gains. Any business in 2021 that is not trying its absolute best to embrace digital transformation, is frankly just shooting itself in the foot and will most likely fizzle away in no time.

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CHRISTIAN ENTREPRENEUR

TOP 7 STATISTICS THAT SHOWS YOUR BUSINESS SHOULD INVEST IN DIGITAL TRANSFORMATION TODAY

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TOP 7 STATISTICS THAT SHOWS YOUR BUSINESS SHOULD INVEST IN DIGITAL TRANSFORMATION TODAY

TOP 7 STATISTICS THAT SHOWS YOUR BUSINESS SHOULD INVEST IN DIGITAL TRANSFORMATION TODAY

 

Digitalization has brought numerous changes to the way we do things. Today, digital technology plays a vital role in the success of your business, regardless of your industry. In fact, to excel in the marketplace, there is every need to embrace emerging technologies, trends, and cultural shifts.

Digital transformation is the new way of excelling in business. So if you need to secure your financial future, you need to invest time, energy, and money into the digital transformation of your company, not tomorrow, but today. With a robust digital transformation strategy, you’ll be equipped with every resource you need to be ahead of your competitors.

We at Haelsoft understand the positive effects of leveraging digital transformation for your business, and we’ve put together these top 7 statistics that shows your business should invest in digital transformation today. These stats are sure to convince you.

 

Smart Companies Are Already on their Path to Digital Transformation

According to Converge technologies, 76% of companies feel their relationship with technology and digital transformation is on the whole, average, or above average. What does this mean for your business? This means the majority of other companies are already trending towards the bright side (your competitors inclusive). When you fail to embrace the gift of technology in your business, you could fall behind your competitors.

 

A Great Number of Your Customers are Online

Index Mundi states that more than 50% of the world’s population is under the age of 30. With over half of the world population being under 30, there have been more digital savvies and budding savvies than ever before. Because this generation is more likely to make decisions based on information gotten online, and purchase products and services online, there’s significant reason to invest in digital transformation continually.

 

More Cost-Effective and Available, More Results.

According to CMO Center, 39% of today’s marketers plan to boost their digital budgets without increasing overall marketing spend, essentially allocating their current budgets into digital channels. This widespread adoption of digital channels is because they’re abundant and cost-effective and have proven to yield more results more than traditional means of marketing.

 

Digitalization is the Future of Business

Forrester highlights that by 2020, 47% of all revenue will be influenced by digital. The went ahead to report that 47% of execs expect digital to influence more than 50% of sales by 2020, This basically means that digital technologies will become all the more sophisticated in the nearest and distant future. With more technologies introduced, embracing the power of digital transformation is the only way to remain relevant and grow faster.

 

Digital Innovations are already Yielding Results

In a survey carried out by Gartner, they discovered that 56% of CEOs feel that digital advancements have already led to boosts in revenue. With digital transformation proving to be a primary goal of business growth and acceleration, it’s crucial now more than ever to invest in digital transformation as a way of facilitating your company’s growth.

 

Top Class Digital Solutions are Pivotal to many Digital Business Strategies of Today

Hidden Brains has reported that 61% of enterprises said that the Internet of Things (IoT) is crucial in their digital business strategies, with manufacturing and high-tech leading all other sectors. Though these concepts are yet to become known in the Nigerian market, by investing in IoT and other latest innovative tech solutions, you stand to be ahead of others.

 

Digital Video Consumption is becoming more popular with each day.

Smart Insights highlights that 80% of today’s consumers’ content consumption is video-based. This means that although print media is relevant, it’s now less potent than it used to be. Today’s customers have advanced and even prefer visual contents and other forms of advanced content formats. To engage with your audience, you need to go digital and provide engaging marketing materials that are video-based or more consumable.

 

Conclusion

In conclusion, it’s evident that digital transformation and adoption are the most sustainable means of staying successful in the market today, tomorrow, and long into the future. If you’re yet to adopt digital channels in your business strategy, now is the best time to embrace the unrivaled power and potentials of digital transformation before it’s too late for your business. One of the easiest ways you can get started is by adopting digital marketing as a way of increasing sales and business growth. We wish you the best in your business endeavors.

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