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Cultism Is Scary, Branding Isn't 😂

The mere mention of the word cult is enough to give us a scare. 😔

The fear is not uncalled for as it is indeed true that we have more than one reason to be suspicious of the word. However today we can differentiate between a benign and destructive cult.

As entrepreneurs that would love to be great

It is always advisable to go..

Be Benign with your cult brand.

Rick Ross describes a benign cult as any group of people that are intensely devoted to a person, place, thing or even products!

But where the relationship between cult brand is harmless.

Entrepreneurs interested in creating a benign brand should note that...

Benign cults do not;

Harm or injure their customers either physically or mentally
Manipulate, hurt, exploits or brainwash their customers
Shut out everyone who doesn't fit a specific set of criteria

However Benign cult;

Welcome anyone who wants to belong.✅
Has no price on admission.✅
Encourages any simply enthusiastic enough to join.
Have accountable leaders to the brand whom value the feedback of their customers✅

How have you been running your business before now?

A good review of this would help you know where you stand and how you want to be perceived by your customers.

To learn more, Follow I Like I Share I Comment 😍

*******
Source: Bolivar J Bueno

It takes courage, vision and dedication in order to successfully change how your business operate.

Cult brand is born when a group of individuals rally round a brand's lifestyle.

This happens when people feel bound to a brand because they feel it has become part of their identity

The customers are drawn together by a set of complex psychological factors that has been tagged participation mystique.

Is the customer identity is tied to your brand?

It is a powerful psychological force that allows the customer express a deeper part of their self.

So the price might have little to do with them buying the products.

This type of brands are successful because they allow;

Customers be who they want to be and not the person they are forced to be.

Cult brands provide a route to self- expression

That feels natural and Intuitive to their brand lovers.

It breeds a sense of belonging which is a core social need of humans.

Source: Bolivar J Bueno

You have to let go of the Merchant Mind-set !

That s an exclusive focus on the short term bottom-line i.e.

An operation which too tightly focused on generating the next transaction.

Sun Tzu said "if a battle cannot be won, Do not fight it".

Are you battling for the next transaction you may win each day,

And in the end lose everything.

On the other hand, If you are battling to be great

You must believe In customer loyalty...

Which Is not a myth nor Lie
It is very achievable and attainable
Offer intangible benefits that exceeds price, selection and location
Building relationships with your customers

Never, ever, ever....

Do whatever it takes to squeeze one more sale out of your customers
Neither should you believe that low price means lowered quality
Consider customer service and support as an expensive endeavour

*******
Source: Bolivar J Bueno

Are you learning something new? Follow I Like I Share I Comment

Have you got repeat customers who offer good ratings, reviews, or testimonials?

If yes, then its a good place to be.

To enjoy more of these benefits,

Your business need to have significant competitive advantages:

The unique attribute that allows an organization to outperform its competitors.

This can be gained by offering clients better and greater value.

Goods and services would be perceived as high-Value Options.

One that commands premium prices or

Attracts customers at a higher rate

It will keep your customers for a longer period of time

Remember, cult brands are what customers...

Buy automatically
Tend to do more business frequently with such brands
Encourage Word of Mouth referrals between their friends and family

*******
Source: Bolivar J Bueno

Are you turning Customers into Loyal Followers? Do the needful today.

Building customer loyalty isn't easy,

But take steps In the right direction.

Your business will be better off.
If you need help - Ask me how!

Ever heard of this term "Cult Branding"?

According to Bolivar J. Bueno It is a sort of branding whereby the company commands fanatical loyalty from it's customers.

For example, Some customers tends to choose Apple's products exclusively

While non-customers most likely wish they could buy these products too.

And why is this if I may ask?

It is certainly not because Apple products are cheap, flawless or infallible!

Why then?

The secret to this is something your business too can offer your customers.

It's something so compelling, irresistible, that Apple and other huge companies

In various industries such as IKEA, Harley bikes and others use.

It is called the "power of cult branding".

Follow us to learn more,

As we share insights on what this book has to offer.

Remember to like, share and comment as we would love to hear a feedback from you!

Differentiating End Users and Economic Buyer

Customers are individuals, private or public organizations that pays for valuable products and services. This can either be an end user who uses the product or simply the economic buyer who decides to buy the product. Without a paying customer, there is no business.

There's a possibility that the customer can be both the end user and an economic buyer.

For instance, if a mother wishes to buy a day care service; she will be the economic buyer while the baby is the end user. In the situation where she decides to buy a bottle of water to quench her thirst on her way home; the mother becomes both the economic buyer and the end user.

You need to know your customer!

So it's easier to find them or help your marketing staff identify more paying customers.

The bitter truth is, you have no business without a paying customer.

Don’t jump on other people’s ideas, create yours or study the lapses in other people’s idea and offer a better option.

TIPS
1. FIND A NEEDY CUSTOMER
2. SEE THROUGH THE EYES OF YOUR INTENDING CUSTOMER
3. CREATE VALUE BY SATISFYING THE NEED OR SOLVING PROBLEMS
4. BE CLEAR, PRECISE AND STRATEGIC IN MARKETING
5. DON'T TRY TO SELL TO EVERYONE - FOCUS

There's no point wasting time creating a product or service that is not needed. Make no assumptions, ask questions from the needy customer so you can understand the best way of offering satisfaction.

Having a good feeling about an idea is not a good reason to launch out. To avoid disappointments of no sale, find out the gaps or pains prior to creating any product or service.

I often ask entrepreneurs "who is your customer?".

It's pathetic to get responses like "My customer is anyone willing to pay me".

This is just a No No.

It is definitely not the right way to go about starting nor running a sustainable business.

You need to be crystal clear, creative and extraordinary in thinking.

Sieve your idea and the possible markets till you discover that which you can dominate earning disproportionate returns in form of money for value created.

FOOD FOR THOUGHT:

Everyone appears to be selling the same product;

Who will be the buyer?

Dare To be different!

Focus On Core Activities

Every business faces some activities that cannot be met by internal resources.

Although, It's better to delay than rush to fail.

But if you can find a trustworthy partner

To serve your current business needs - go for it!

Do not under estimate the power of external challenges

Avoid your business being dominated by only one discipline

A broad range of experience in different industries can be applied bring a fresh perspective

Why would you not use specialist to develop your business projects?

What makes an orchestra great?

It is the conductor that brings together specialist musicians at the right time to deliver a command performance.

If speed to market is a key profit driver in your business, consider outsourcing.

This can make a significant and positive impact.

But never fail to fulfil your own responsibility as a leader.

Outsourcing helps businesses to grow and save money.

Are you anticipating increase?

Plan to outsource task that requires a specialist.

This may include bookkeeping, graphic designs, web site management etc

Perhaps, there's a need to engage the services of a business strategist or legal advisor.

Do not hesitate to do the needful.

The benefit of outsourcing outweighs the cost - trust me.

Profit-Generating Plan

This is all about the application of marketing resources to achieve marketing goals.

Your marketing plan is a section of the business plan.

It's Uses

Segment markets
Forecast market size
Identify positions in the marketplace
Plan for a viable market share within each segment

Have you considered any of this marketing objectives?

Sell existing products in an existing market
Sell existing products into a new market
Sell new products in an existing market
Sell new products into a new market

Whichever you decide, ensure your objectives are always SMART

Specific: in-terms of value or market share
Measurable: -ability to confirm its achieved or not.
Achievable: with resources; people and investments
Realistic: avoid target that gets you demotivated if not attained
Time-bound: set timescale for achieving any objectives

Strategies ought to be your wide method of achieving any marketing objective.

They relate to products, pricing, adverting or distribution.

You may wish to consider any of the following types of strategy

Develop: Offer a wider range of products or services to existing client
Attack: Generate business through a new customer [Ask for referrals]
Defend: Avoid the loss of paying customers

Would you consider strategic pricing? Possibly

Maximising profits or
Setting a low price deliberately

The choice is yours!

Only select strategies that will best satisfy your objectives...

One that can easily be implemented with your resources and capabilities.

For proper implementation, convert your strategies into a program or action plan.

Develop an Action Plan

Your current position or situation
Aims: define goals - set targets
List steps involved
Person responsible
Start date
Finish date
Budgeted cost

You will need to further break down your action plans.

If you need help - ask me how? Comment below

Depending on the situation or opportunities,

You made need to prepare a brief plan.

Especially where you need to:

Target new sales area
Introduce a new product
Phase out an old product
Introduce a modified product
Develop sales into an individual export market

If there are any words still unclear to you, spend some time to find out the meaning.

Would you like to download a marketing plan template? If yes <<click here>>

All subscribers will receive a copy via email - signup now!

Financial Information - Why do I need it?

Listed below are some simplified financial terms with a brief explanation.

Cash Flow Statement

This is a calendar that shows when CASH comes in and out of your business
It helps calculate how much money is needed to start and run the business
The impact of seasonal ups and downs can easily be seen
A smart way to work out how much borrowing you need
Above all, it shows the bank that you can repay the loan

Cash inflow: Cash received by the business
Cash outflow: Cash paid out by the business

Profit and Loss (P&L)

It shows how much PROFIT your business is making

"Profit is not Cash" and "Cash is not Profit"

The only figure you'll be taxed on is the net profit - know it

Sales/Turnover: Total amount invoiced in the period of goods and services supplied by the business
The Cost of Sales: All materials and expenses directly relating to the provision of the goods and services included in the sales period
Gross Profit: Sales less cost of goods sold i.e the amount generated by the business available to fund running cost and overheads
Gross Margin: Gross profit as a percentage of sales
Overheads: Operating expenses that cannot be directly allocated to producing the goods or services for sale
Depreciation: The amount by which the book value of a fixed asset has fallen during the period
Net Profit: The amount retained by the business after all expenses and overheads have been deducted

Balance Sheet

This will show your ability to repay any short-term debts
It reflects your assets and liabilities

Asset: Anything of Value that the business owns or is owed
Stock: Raw materials, work in progress and goods ready for sale
Debtor: Someone who owes money, goods or services to the business
Creditor: Someone the business owes money, goods or services
Liability: Money, goods or services owed by a business

Calculating your sales forecast

This is a practical way to see how many sales you'll need

Calculating breakeven & profit

Use this tool to learn how to calculate your break-even sales
It describes how discounts can have an impact on your profit
It will show the positive impact of price increase on your profit

Daily sales needed

A table which shows how many sales you'll need per day, week or month

Personal spending budget

Works out how much you need to take out of the business to live on

If there are any words still unclear to you, spend some time to find out the meaning.

Would you like to download a cash flow forecast template? If yes <<click here>>

All subscribers will receive a copy via email - signup now!

[REF: B-GATEWAY]

BUILDING A CONTENT STRATEGY

How would you love to get the attention of an ideal customer?

I have succeeded In attracting many from Africa using my invaluable content.

Who are you trying to reach?

What's their age, sex, interest, location and online behavior?

I can easily define my target audience;

They must be between 18-30years, either male or female based in Nigeria.

My ideal customer must be interested in innovation-driven entrepreneurship;

He or she must be a tech-savvy individual with a teachable spirit,

A frequent user of Facebook, WhatsApp and Android mobile devices.

I am aware that my prospects are often on the move, so I keep my content simple.

Blogging is highly recommended for all business owners.

It's an easier way of educating my audience.

Be creative with multimedia.

Guess what? I am loving content recycling, it's a time saver.

Grammarly eliminates grammatical errors and enhances my writing.

A weblog offers a great opportunity to flaunt your knowledge and expertise.

Be committed to positioning yourself at the Go-To-Expert with your niche.

Use attention grabbing and relevant headline.

Avoid lengthy text, complicated vocabulary, and copyright issues.

Action Words and Adjectives often recommended for use in blog titles.

All your content should be hosted on a website...

And shared through social media or email marketing platforms.

All content created can always be converted into an e-newsletter.

Plan to drive traffic to your site; which is your e-office.

Be consistent.

Analyze your traffic.

While using analytics,

Do not forget to apply filters that will eliminate your IP address.

This enables you to get accurate data about your statistics.

To be honest, there's a lot more to learn about weblogs

Blogging involves a lot of trial and error.

It requires content planning and social media scheduling.

My content marketing strategy can only get better, find out what works for you.

I am making so much progress in blogging,

Learning something new each day.

If you stay connected I will share my learning outcomes with you.

FYI, I intend to start using Infographics and Yoast plugins to assist with SEO.

Yes - I am so tempted to migrate my blog to WordPress platform but

Blogger has its own benefit too. I'm still undecided.

Also, I am considering guest blogging.

What about you?

What is your digital marketing goals?

Perhaps,

You need help with any of the following;

What to write? Research, Focus on your readers.

Where to write? Select a platform that has more of your target audience

How to optimize your content? Research, use keyword planner, and analytics.

Tools that can help you create or share better content? <<Click here>>

Drop your comments below, I will respond to you as soon as I can.

Never Try To Sell Without First Adding Value

Andy Harrington recommends

Every smart entrepreneur should...

Turn their sales process into educating session.

Remember, not everyone is ready to buy even if you are set to sell.

To make a sale, the marketing and advertising timing for each prospect must be right.

See your prospective client as a student - an individual that can be educated is key;

Irrespective of their buying decision.

Create an opportunity for anyone in your network to gain a valuable knowledge;

That can the begin to solve problems they might be facing.

Plan to give away free consultation with great content to potential clients.

If your audience is satisfied, many will return to purchase the complete solution.

THE GUIDE TO BUSINESS COLLABORATION

Do you need to raise funds for your business?

When is it a promising idea to take out a loan to invest?

Would you consider partnering to achieve any funding goals?

How much of your business are you willing to sacrifice as shares?

What plans do you have in place to resolve conflicts with partners?

==================

IMPERFECT WORLD

================== Choose Partnership

As an entrepreneur, I am open-minded.

I am up for partnership or selling equity.

BUT...

Exercise caution in your business affairs, for the world is full of trickery.

But let this not blind you to what virtue there is; Source:

CHANGE YOUR PERCEPTION

Never mix business with personal matters;

It often leads to damaged relationships and poor business.

Never partner with someone that you can hire;

If you've got the idea and someone else has the skill,

Simply hire him or work out an independent contractor agreement.

Never engage a partner without written and signed agreement;

Get legal advisor involved. Be clear and transparent

Never start a business with partners without defining an exit strategy;

There must be flexibility for any to "walk away" or

"Buy out" the other party without impacting business operations.

Never forget; business first and friendships second;

Be open minded and prepared for change.

Never subscribe to partnership without defining the boss;

Every business needs a person with significant control.

Avoid 50:50, a simple solution is 51/49 split.

Delegate and let go…

Give some control away.

This is a critical skill for partners in business to succeed.

Don’t just raise the needed capital, share expenses also;

Keep records of the partnership's sales, takings, purchases and expenses.

Launching and running own separate business prior to collaborating is key to succeeding.

Who’s with me on this subject? Let’s discuss, comment below

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HUB ENTERPRISE

Cultism Is Scary, Branding Isn't 😂

Differentiating End Users and Economic Buyer

Focus On Core Activities

Profit-Generating Plan

Financial Information - Why do I need it?

BUILDING A CONTENT STRATEGY

Never Try To Sell Without First Adding Value

THE GUIDE TO BUSINESS COLLABORATION

CHANGE YOUR PERCEPTION

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