Resources for Entrepreneurs
EIIG Team provides Adapted Business Strategies for Small Businesses
Week 1 - Branding
Due to circumstances surrounding COVID-19, many small businesses have been forced to adapt by either altering their business model or shutting down operations to stay afloat. Emory Impact Investing Group (EIIG) is releasing business development content over a period of three consecutive Fridays to provide entrepreneurs adaptive business strategies. The first week content will focus on general brand development. This will include materials that are focused on how to create a consistent marketing strategy and think about how to best highlight your companies’ mission. The materials of the second week will include information about free additional features that will increase your digital presence and customer data. The third week will provide strategies needed for exploring various new business models. This will focus on ways to adapt your business to a digital model and to evaluate whether it makes more financial sense to close down operations.
Branding is the crucial bare bones of marketing and attracting loyal customers. As the face of a business, branding gives customers a clear roadmap of what to expect from the brand. You can read more about the importance of branding in this article. Want some pointers about how to create a good brand? Here is a guide that can help you with that!
For businesses that want to adjust brand strategy to better target customers in a pandemic society, Read this Forbes article.
Consistent branding is easier to create once you have determined the mission of your company. Marketing your company with the same style allows for customers to remember and recognize your brand. A style guide will help serve as a template for what colors and fonts to include in marketing materials.
Data Tracking/Analysis tools are important features for either understanding which potential customers you should be reaching out to or increasing the opportunity for a potential climate to find your website.
Here are a list of these type of additional features:
SEO: Google Adwords
A business looking to increase website traffic and thus increasing potential customers should implement a tool called Search Engine Optimization (SEO). SEO engine is a data ‘tool’ that uses data of word search frequency to inform a website owner what words to include on one’s page.
Want to decide which keywords are best for you and your specific business to increase website traffic? Learn here
CRM: Hubspot, Salesforce
Benefits of using CRMs in general: https://www.salesforce.com/crm/benefits-of-crm/
Benefits of using platforms like Hubspot as a startup specifically: https://www.hubspot.com/startups
Other more local alternatives such as Mailchimp if looking for an email marketing software. Here are some breakdowns on which platform is more appropriate for your startup: https://www.chooseoxygen.com/en/blog/hubspot-vs-mailchimp-email-campaign-automation
Business instagram features allow the account owner to collect information on their potential customer to cater content that more directly reaches this audience
Look here to find out how to get started on business instagram
Hashtags are helpful depending on your main mode of social media. The site here helps guide you to determine what hashtags are most popular (searched the most frequently) within your industry
A brief introduction on why hashtags are important for Instagram:
Up-to-date popular hashtag examples:
Tools that allow Instagram users to find out what hashtags could target a larger audience (including other features): https://www.postplanner.com
Curbside pick up is a convenient and COVID-19 safe way to maintain business operations. This article details ways to highlights ways to implement this method and what to considerhttps://www.bigcommerce.com/blog/curbside-pickup/#7-tips-for-creating-the-best-curbside-pickup-experience
Zoom is a video calling platform that allows you to video chat with customers for either a ‘cook along’, patient meeting, or host a gym workout. It is free and allows you to host a free session for 40 minutes.
5 Reasons how Zoom benefits small businesses: https://blog.zoom.us/zoom-video-communications-small-business-benefits/
Other alternative business models are hyperlinked below:
Where to advertise your companies adapted business model
Trends of Advertisement - Going Online
A closer look at Criteo
An example of how a global commerce marketing technology company, Criteo, advertise companies’ adapted business models: https://www.criteo.com/insights/coronavirus-marketing-trends-how-4-companies-adapted-their-business-strategy/
Criteo is an example of a retargeting (remarketing) company. Here is an introduction of what retargeting companies do and who they are
Other competitive companies in this industry: https://www.g2.com/products/criteo-dynamic-retargeting/competitors/alternatives
Other forms of digital resources that companies could use while advertising their adapted business models: https://www.klaviyo.com/blog/ecommerce-martech-stack
Covid regulations have been implemented to keep members of the community safe. Staying up to date on the rules required allows flexibility in terms of how one can begin re-opening their business
Guide to Reopening for Georgia Restaurants: https://www.garestaurants.org/covid-19-restaurant-guide-to-reopening
COVID Regulations for Food Services: https://dph.georgia.gov/environmental-health/food-service
Week 2 - Adaptive Business Models