Do you use social media for your business?

Do you use social media for your business?

It is good to know what attract people to social media and what keeps them there.

It is also important to know how it affects your efforts as a business.

Social media fulfill a fundamental series of needs;

    Needs of belonging

    Self-promotion

    And self-esteem.   (We need to feel, valued, and emotionally engaged).

People join social media because their friends are on there and social media grows, because friends engage for common interest and encourage other friends to do the same.

They socialize, share and discuss information. They also promote and  maintain sense of belonging.

Doing so, people stay on social media on day to day and week to week bases.

What does means for your business?

It means you need to plan to meet its needs on an ongoing bases, to engage with your customers regularly and effectively, bearing in mind social media is supposed to be fun and encouraging and you have to meet your customers’ needs on an emotional level as well as purely intellectual one.

It means, time social media into the way your business works, because you need to continue the process of feeding social media.

It also means, evaluating the results to see that the money you are spending and the time you are taking is returning a real result for your business.

With these information provided above; 

Do you need someone who can help you understands social media and help you profit from it?

Contact Samuel on; 08036568521

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Are you a salesperson?

Salespeople have to deal with more negativity than almost any other professional. For every deal signed, there's bound to be countless unanswered calls, emails that fell into an abyss, and prospects that sharply demand to know, "What's this about anyway?" It can be hard to power through all the "nos" that necessarily dot the path to a "yes."

But you know who else dealt with rejection? Some of the greatest thinkers, leaders, and businesspeople of our time. And they didn't just persevere through the hard times -- failure is what made them succeed. The next time you feel like you just can't deal with your obstacles for one more minute, remind yourself who you are and tell yourself that is what makes me better. 
#TGIF

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New Product Development Process

Developing a new product shouldn’t feel like you’re fighting in the dark. There’s an easier way. What you need is a structured road-map that gives your business a clear path to follow.

Actually developing the tangible product or service is only a small part of the new product development process, which includes the complete journey from generating the initial idea to bringing the product to market.

By setting out the steps involved, and sticking to them, your product development will become a more focused and flexible approach that can be adapted for all different types of products and services.

Idea Generation

The development of a product will start with the concept. The rest of the process will ensure that ideas are tested for their viability, so in the beginning all ideas are good ideas (To a certain extent!)

Ideas can, and will come, from many different directions. The best place to start is with a SWOT analysis, (Strengths, Weaknesses, Opportunities and Threats), which incorporates current market trends. This can be used to analyze your company’s position and find a direction that is in line with your business strategy.

In addition to this business-centered activity, are methods that focus on the customer’s needs and wants? This could be:

• Under-taking market research
• Listening to suggestions from your target audience – including feedback on your current products’ strengths and weaknesses.
• Encouraging suggestions from employees and partners
• Looking at your competitor’s successes and failures

  Idea screening

This step is crucial to ensure that unsuitable ideas, for whatever reason, are rejected as soon as possible. Ideas need to be considered objectively, ideally by a group or committee.

Specific screening criteria need to be set for this stage, looking at ROI, affordability and market potential. These questions need to be considered carefully, to avoid product failure after considerable investment down the line.

Concepts Development and Testing

You have an idea and it’s passed the screening stage. However, internal opinion isn’t the most important. You need to ask the people that matter – your customers.

Using a small group of your true customer base – those that convert – the idea need to be tested to see their reaction. The idea should now be a concept, with enough in-depth information that the consumer can visualize it.

Business Analytics

During the New Product Development process, build a system of metrics to monitor progress. Include input metrics, such as average time in each stage, as well as output metrics that measure the value of launched products, percentage of new product sales and other figures that provide valuable feedback. It is important for an organization to be in agreement for these criteria and metrics.

Even if an idea doesn’t turn into product, keep it in the hopper because it can prove to be a valuable asset for future products and a basis for learning and growth.

Tests Marketability

Arranging private tests groups, launching beta versions, and then forming test panels after the product or products have been tested will provide you with valuable information allowing last minute improvements and tweaks. Not to mention helping to generate a small amount of buzz. WordPress is becoming synonymous with beta testing, and it’s effective; Thousands of programmers contribute code, millions test it, and finally even more download the completed end-product.

 Technicalities & Product Development

Provided the technical aspects can be perfected without alterations to post-beta products, heading towards a smooth Commercialization is imminent. The production department will make plans to produce the product. The marketing department will make plans to distribute the product. The finance department will provide the finance for introducing the new product.

In internet jargon, honing the technicalities after beta testing involves final database preparations, estimation of server resources, and planning automated logistics. Be sure to have your technicalities in line when moving forward.

 Commercialize

At this stage, your new product developments have gone mainstream, consumers are purchasing your good or service, and technical support is consistently monitoring progress.  Keeping your distribution pipelines loaded with products is an integral part of this process too, as one prefers not to give physical (or perpetual) shelf space to competition. Refreshing advertisements during this stage will keep your product’s name firmly supplanted into the minds of those in the contemplation stages of purchase.

 Post Launch Review and Perfect Pricing

Most new products are introduced with introductory pricing, in which final prices are nailed down after consumers have ‘gotten in’.  In this final stage, you’ll gauge overall value relevant to COGS (cost of goods sold), making sure internal costs aren’t overshadowing new product profits. You continuously differentiate consumer needs as your products age, forecast profits and improve delivery process whether physical, or digital, products are being perpetuated.

Thank you for reading.

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