"Ask Chad" boiMAG.com

Business Marketing Q&A

Dear Chad, What are the three main components for a new business owner to have setup? -From, Johnny

Hello Johnny, Specifically from a branding and marketing standpoint you must first know your customer/ client. It is imperative to your success to know their every need, want and expectation when shopping to either buy product or hire a company for a service. Many companies do not have a clear picture as to who their primary targeted demographic is or what they want. Second you must also look at your business as someone that has no clue as to who you are, what you provide or what you can do. You can’t assume your client has done their homework so you have to do whatever you can in order to paint a clear picture. Often times as business owners we make the assumption that our customers/clients knows as much as we do about the services or products we provide. Don’t make this assumption it can be detrimental to your businesses continued success. The third step is to ensure you have strong branding in place starting with a logo and marketing to back it up. No different than you would be when selecting a new service or product. If you feel there isn’t legitimacy to the company or brand you are looking at, you have to assume your business is being viewed in the same way. Just because you know you offer a good product or service does't mean this will translate to your potential client/customer.

Dear Chad, I’m starting a new fashion line. How do I get new brand exposure in an effective way to the people that I need to target? -From, Marcellus

Hello Marcellus, I would utilize recommend e-commerce so that you can effectively be seen by a much larger audience right off of the bat. This can be much more cost-effective rather than trying to get into a physical location to start. A lot of brands are actually switching their full sales model to online. Ensure you do your research on your primary demographic so you know who you are market to. Once you have your online store setup start with PPC and Social media advertising to gain traction. You are in control of you daily spend and can quickly see if your efforts are converting to sales. This is a quick way to gain traction at a fairly low spend. Just be careful to set a realistic budget and give it some time.

Dear Chad, What are the do’s and don’ts for a new company? -From, Laurie

Hello Laurie, No matter the industry it is important to plan for the worst while being cognizant of what being successful looks like. Have realistic goals in place to ensure you have long-term success. Don’t put yourself in a position that is unrealistic to succeed. More times than not start-up companies do not do their research and overspend in ways that are in no way beneficial for their company to expand. There will always be ups and downs but you can control how much of this happens within a respectable amount of time. Plan ahead and if you can afford it, hire a marketing company to help you come up with a realistic budget that us sustainable for you. A lot of agency will provide complimentary consultations and incentives for new clients. The worst thing is starting out by spending too much money then having to pull back or stop all together because you didn’t plan accordingly. This can be a huge waste of money and quite detrimental to your companies ongoing success.

Chad Brittian is an experienced industry professional and CEO of NVS Design, Inc. To consult Chad for any of your business needs, call 877-578-2045 (Ext. 700) or email him at chad@nvsdesigns.com. www.2nvs.com

To submit your question to Ask Chad, email him at: AskChad@boiMAG.com