Tag: Marketing tools

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A Quick Guide to Starting a Retail Arbitrage Business

Retail arbitrage is not just a hobby or side business. It is a business model that many follow to run highly profitable businesses. Retail arbitrage involves finding products created by other brands and manufacturers and then reselling them on Amazon, eBay, or Walmart for a profit. The goal is to find a high in-demand product for an affordable price, buy it in bulk and then list it on one of these platforms. The more products you source and resell on these platforms, the more revenue you can make.

 

These essential tips will help you start and run a profitable retail arbitrage business:

 

Use the Amazon Seller App

The best way to ensure you are sourcing products with a high-profit margin is to take advantage of the Amazon seller phone application. This app allows you to scan items to see their current sales price, sales rank, and potential return on investment.

 

Shop More Than One Store

Find more than one store to shop from, even if it is the same type of store. The more deals you can find with the most units, the more profits you can make. For example, if you find a candle that people are buying for $2 at a local store but know you can sell it on Amazon for $10, you will want to purchase and sell at least twelve or more to make a profit worth the work.

 

Verify Your Profit Margins

In other words, find products you can sell at all different price points. However, beware of your limits. Anything that provides at least eight dollars or more in return is where you should start if you want to start and run a profitable retail arbitrage business.

 

Price and Ship Right Away

Don’t let the product sit once you purchase it. Follow the instructions on how to properly ship your items to Amazon’s warehouse as soon as possible. Be sure to price the items competitively but fairly. In other words, if others on the platform are selling the same thing, don’t over or underprice them, as this will only hurt you in the end. Keep the price the same by fifty cents to a dollar keeping in mind your profit margins.

 

As you can see, you can’t just post any product and expect it to be successful. It needs to be an in-demand product and offer a good return on investment after being shipped to Amazon then packaged and sent to the new owner. For retail arbitrage to be successful, you must sell at a profit and find more than one unit. This means most successful retail arbitrage businesses eventually open a warehouse and hire employees to source more products and get them shipped to Amazon quickly.

 

 

 

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How to Grow a Profitable YouTube Channel

Multi-millionaires are being created every day on YouTube. With nearly one billion hours of video being consumed on YouTube daily, there should be no surprise that money can be made on this platform. It is estimated that one of the top YouTube channels generated nearly twenty-six million dollars in 2020 alone. There are many ways to grow a successful channel on YouTube as long as you have the desire, understanding, and tools to do so.

 

Here are six ways to turn your YouTube channel into a profitable business:

 

Pick a Niche and Consistent Schedule

The best way to grow a business on YouTube and any online market is to niche down. This way, you can use your time to create a consistent schedule of valuable content to share with your viewers. When viewers find your channel and notice you talk about a certain topic, they are more likely to join or subscribe rather than be confused by what you have to offer, as each video is about something completely different. Baking, cooking, financial, and travel channels are just a few of the popular niches to choose from.

 

Join the YouTube Partner Program

Once your reach one thousand subscribers and four thousand watch hours within a year, you can join YouTubes partner program. This is when you can get monetize your channel with advertisements using Google AdSense. Depending on your niche or topic, you will be given a certain CPM or cost per million views of those who watch the ads that display before your video. After YouTube takes their share, you will then be paid out by YouTube or Google monthly.

 

Create and Sell Your Own Merch

Once you build an audience or community, you can develop your own merch or clothing to sell to your audience. When you grow a community that values your content, they will want to give back and want your content as they have grown to love or need your brand and business.

 

Add Sponsored Content to Your Videos

Find brands or products you admire to share brief information on their products in exchange for a flat rate fee or commission through an affiliate link.

 

Get Paid by Your Fans

Include a donation button once you reach a certain subscriber count. Then, ask your audience to join your YouTube membership content or Patreon account, where a small monthly fee unlocks exclusive content.

 

Promote With Your Blog, Email, and Other Social Media Platforms

Even though YouTube is a powerful search engine, it is always a clever idea to promote your channel outside of YouTube, especially when you first start. It takes the YouTube algorithm a while to recognize your content and see it as valuable. If others watch your content as soon as you post it, it triggers the algorithm to share your content.

 

There are several ways to create revenue with your YouTube channel to grow into a sustainable and highly profitable business. First, the more quality content you post consistently, the more your audience will grow, increasing your revenue potential and success on YouTube.

 

 

How to Use YouTube Stories for Business

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Essential Guide to Starting a Blogging Business

Did you know that in 2020 over four hundred million people viewed nearly twenty billion blog pages every month? What’s even better is that almost twenty-five percent of those who run a WordPress blog make a full-time living in the same year. These two facts show that creating a blog and turning it into a profitable or sustainable business is not completely out of reach.

Here are five tips to follow to grow a profitable blogging business:

 

Choose a Niche

While not a requirement, choosing a niche for your blog is the best way to turn your blog into a profitable business. This is because you can better perfect and target your audience when you don’t have too many topics to cover.

 

Develop or Invest in Quality Content

A blog is only as successful as the content it provides. If you just put up any blog post or re-share content others create without any unique twist or value, you won’t go anywhere. Successful blogs work because they know what content their audience needs or wants and delivers.

 

Be Interactive and Visual

While blogs are mostly written content, that does not mean you should avoid using pictures or infographics. Graphics add more creativity and interest to your post that keep your audience interested and engaged. Increasing audience engagement ensures your audience feels your offers are valuable.

 

Monetize Right Away

You don’t need to wait to start making money or develop ways to monetize your blog. In fact, monetization ideas should be created or at least thought of before you even purchase your domain or create your first blog. This way, you know the effort and time you put into your blog is a viable and profitable option. Waiting for your target audience to do the work for you won’t create the profits you need to be successful. Instead, you need to give the products to them.

4 Tips For Success In Home Business

Use Social Media and Email Marketing

The best way to promote your blog is through social media and email marketing. However, you can’t expect anyone to find you without a proper marketing strategy unless you create perfect SEO-rich content. Even then, relying on only SEO or keywords can be a slow and tedious process.

With these tips, you can grow the blogging business of your dreams. As long as you invest in the right content your target audience wants to read or consume, and use the right platforms for marketing your blog, you will be successful. Remember, blogging is not a get-rich-quick scheme. It takes dedication, passion, and consistency to deliver content your target audience wants to enjoy continually to grow your business.

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Five Important Principles of Authentic Community Engagement to Learn

With more social media and online communication, being genuine and trustworthy are two important characteristics many consumers are looking for from businesses more than ever.

 

With authentic engagement and communication, you can foster communities that work together to empower each other and your brand. It provides the knowledge you need to improve your products while also helping the members solve problems that can then be used to improve their lives and others. It’s about being real, inspiring your community, and doing your best not to mislead or misdirect them.

 

The following are five important principles to learn and incorporate to inspire authentic community engagement and grow your business:

 

Get the Community Involved and Active Right Away

 

Don’t wait until you have a lot of members to start publishing information and activating the community. At first, your community may feel a little lonely until you get more members but keeping it active and full of information that will still be there when people join is very important to building a dynamic and vibrant community.

 

Encourage Trust and Integrity

 

Set the rules of your community to establish trust and highlight your integrity to the group. As you communicate openly with members of your community, others observe and become more trusting of you as they notice how much integrity you have.

 

Foster Community-Led Solutions

 

As a business owner, you need to create and or find solutions for your ideal customer’s problems related to your niche and your expertise. The impressive thing about having a community is getting input to create more solutions from the people who need them.

 

Be Consistent, Clear, and Open with Communication

 

It can help to create a branding guide that includes your business personality and voice to ensure that all content and communication are consistent, clear, and accurate. It’s a lot easier to be open when you know for sure where your values lie and how to ensure you stick to them.

 

Empower and Support Your Audience

 

The best thing about a group is that you will have one of the best advantages in empowering and supporting your audience. After all, you want them to succeed, and if they succeed, you do too.

 

Create powerful and informed content that serves your members and only your members — meaning don’t just automatically share content that has been shared in other places unless you changed it in some way or added additional meaning to it by connecting it to a success story or a point you want to share. The more personal the content being shared in the group, the more likely your members will come back and engage with each other. Content is how you keep your target audience interested and involved, so make it worth it.

How Community Member-To-Member Engagement Grows Your Business

 

 

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Common Business Problems that Building a Community Can Solve

If you are struggling to build your business and looking for ways to improve, building an online or brand community may be the best solution. In fact, it is likely the tool you’ve needed all along.

 

The following are five common business problems building a community can solve:

 

Poor Return on Investment

 

While email lists, advertisements, and your blog are all fabulous ways to generate interest in your offers, there is nothing more effective than truly getting to know your customers more intimately. If your ROI is not what you want it to be, but your customers are otherwise satisfied, a brand community can help you fix that problem.

 

You can create the community free or for a fee. It’s up to you. It really does depend on your niche and your business model, but you can test out various ways to run your community. Once you have a captive audience that you can communicate with regularly, they will start buying more, and your ROI will improve.

 

Poor Cashflow and Intermittent Revenue

 

Whether you provide services or products, or you’re an affiliate with no products of your own, if you work within a particular niche, your income is likely not consistent if you have not built a community of avid and hungry buyers. Having a membership-based community, whether paid or free, can stabilize your cash flow like nothing else.

 

In your communities, you can offer them the first peek at new products and services, get more feedback, receive more customer reviews, and even get your members to become brand advocates and recommend you to others much easier than you can without having a community.

 

Poor Credibility, Trust, and Awareness

 

Communities humanize businesses, and once that happens, your audience will start trusting you more. The credibility that you end up with after creating more awareness through community building will jumpstart your creative juices and end up helping you become even better in the eyes of your customer base due to all the inside knowledge you’ll gain by being part of your community.

 

Poor Business Growth and Stagnation

 

If you have grown as far as you can with what you are doing, consider building a community. An active and engaged community can really boost your growth and end the stagnation you’re experiencing. Even if you haven’t sold a solitary product yet, building an active community will generate new revenue.

 

Finally, you can vastly improve your customer service by setting up an active and involved community. Not only will your members offer each other community peer-to-peer support, but you’ll also be much more in tune with what is going right and wrong and learn better ways to help your members in the way they desire.

 

 

Four Ways Community Building Improves Customer Service

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Communities Foster Customer Success: Here’s How

Building a community around your brand may sound like a personal choice and more valuable to your business than your customers. However, it is quite the opposite. Your community allows your customers or members to be more successful in many different ways.

 

Well-run communities are packed full of valuable information and engagement to enable your members to feel more important and empowered. In addition, maintaining their loyalty is easier in a community as you can provide both traditional and self-serve support — meaning you no longer need to rely on normal business hours to value your customers.

 

Here are five ways communities foster customer success:

 

You Provide High-Quality Relevant Content

 

By using your communities as a distribution platform for your most relevant and high-quality content, you’ll be keeping your customers engaged every single day and, more importantly, twenty-four hours a day by giving them access to the vital information they need to solve their problems.

 

You and Members Build Strong Human Connections and Relationships

 

The exchanges with your members and the interactions members have together build strong connections and even develop relationships outside of your membership, forum, or group. When your members become attached to everyone else in the group, you truly will build brand advocates who will tell others about your community.

 

You Can Develop Improved Products and Services

 

By hanging out with your ideal customers, you will receive the most amazing insight into what they really need. When you see problems that they talk about, it will generate more ideas. Make it simple for your members to ask questions, comment, and discuss all the issues relating to why your community exists, and soon you’ll have a never-ending supply of product and service ideas.

 

You Can Provide (and receive) Inspiration and Empowerment

 

Having a captive audience via a forum, group, and community is one of the most powerful ways to provide your ideal audience inspiration and to empower them with the knowledge they need to use your products and services (or the ones you recommend) to create the life they want based on your particular niche.

 

They Receive Daily Communication and Motivating Interaction

 

Finding a way to stay at the top of your audience’s mind is another reason community building is effective. When your members receive daily communication from you that encourages them to act on their goals and dreams and to brag about it or ask questions about it within your community, it’s very motivating to everyone.

 

When it comes down to it, brand communities support your customers more while also taking your business to the next level. The improved customer support, daily interactions, and communication through publishing unique and useful content drive your customers to success. What is even more important is that communities prevent you from ignoring your customers. The more you listen and prove that you are hearing, the more successful your business will be. Likewise, the more successful your customers are, the more successful you are.

 

 

How Community Member-To-Member Engagement Grows Your Business

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Four Simple Ways to Create Brand Awareness Through Communities

The first step to every marketing funnel includes creating brand awareness. Brand awareness is essential to growing a profitable and sustainable business. When potential customers know who you are, it is easier to form deep connections that prevent them from running to your competitor.

 

In other words, brand awareness influences the trust and credibility needed to make purchases, create loyal customers, and maintain a competitive edge. Building a community is an affordable and powerful way to get the brand recognition you need to be successful.

 

The following are four ways to create more brand awareness with your online or business community:

 

Ask Your Members to Share

 

This is the simplest way to get more brand awareness. For every piece of content you share with your audience, ask them to share the parts for public consumption. When you ask them to share and even incentivize them by developing a referral program, you’ll start building your community fast.

 

Create Surveys or Feedback Forms

 

While some members will offer their thoughts without your asking, the truth is, even inside a group, people are more likely to give you this information if you ask for it via a survey or feedback form, depending on what you want to know. So don’t be shy about creating surveys either.

 

If you’re trying to develop a new product, for example, use your community to help. Give them three choices on the title or ask them for feedback on the branding. This accomplishes two things. One, you will make a better solution with your audience’s help, and two, you are promoting it and developing excitement in your audience.

 

Develop Engaging and Shareable Content

 

Use the information you glean from your audience inside the community to develop more engaging and sharable content. Turn compliments into memes, take data and create an infographic, and try to produce content that your members want to consume and, more importantly, want to share.

 

Take Advantage of Platform Features

 

Depending on what platform you use, it will have a variety of features. Facebook, for example, enables you to create a variety of types of groups with assorted options to use bots, have forms, take payments, and so much more. While a platform like Mighty Networks offers a whole host of options too. Use the features within the platform. They are there for a reason.

 

It is easy to see that communities can create brand awareness that leads down a more successful path. It’s simple: if your customers don’t know you exist or have value to provide, you won’t be able to build a sustainable and profitable business. In addition, brand or online communities using social media make it easier to find and reach your target audience.

Six Tips to Improving your Social Media Story Content

 

 

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Five Important Ways Communities Increase Brand Loyalty

Brand loyalty is what makes the effort of building and moderating an online or brand community so important. Member-to-member interaction, social proof, and the quality content provided within the groups inspire them to stay around and seek more.

 

These relationships also fuel them to share your communities or become brand advocates. Thus, saving you even more money while also increasing your potential to reach more people.

 

In other words, brand loyalty is essential to not only solidify current success but future success too. To grow a profitable and sustainable business, building a branded community is essential.

 

The following are five important ways communities increase brand loyalty:

 

Business-To-Member Communication

 

Communicating with your customers directly is an amazing invention of modern times. In the old days, you had to advertise on TV, radio, or various print means and wait to see what happened. So, it could be hard to tell if it worked for the reasons you think it did.

 

Now you can simply tell your members directly about your offers without the go-between. You can see when they view a message or respond to it and even see them talking to their friends in the group. But most of all, getting to send them a message right now that they’re going to get directly from you is an amazing thing and will keep you at the top of their mind.

 

Valuable and Engaging Content

 

It’s very important to understand that publishing anything just to put it in your community is not the goal. You want the content you publish and share with them to be valuable and engaging. You want them to look forward to seeing the latest content you share every day.

 

You want them to wait for it, excited for it to appear. However, that will only happen if you take the time to create desirable content based on what you know about them and how it relates to their need to use your solutions and products.

 

Member-To-Member Communication

 

This is one of the most important parts of building a community that will change everything for your business. Once your members start talking to each other about their lives, and your products and services, and how they help or don’t help, you’re going to end up getting the most invaluable information ever that will help you improve your products and make them think you’re a mind reader.

 

Special Offers or Member Discounts

 

If you promote outside your membership group or community, a terrific way to make the members feel special is to offer them some form of reward or a loyalty program. So many big businesses don’t understand how much it harms their relationship with their customer when they offer the new deals only to their new customers. Offer your members things you don’t offer anyone else because they are important.

 

Superior Customer Experience and Service

 

When you engage and spend time with your community every day, you provide customer care directly. As a result, they will perceive their customer service as better because they feel heard.

The more you nurture your customers and seek a relationship with them, the more likely they will become loyal customers or followers of your brand. Loyal customers advocate for your business and ensure the success of your brand now and in the future. Work always to keep your community engaged, be involved in the process, ask for feedback and reward them for improving your brand loyalty.

 

Six Ways to Use Communities to Promote Your Products

 

 

 

 

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Community Building Equals High Return on Investment

According to the stats, it only takes most membership communities and groups about four months to break even on the initial investment when starting and running an online brand community for business.

 

In addition, a 2014 online communities benchmark report found that nearly two-thirds of companies manage some form of an online community, and the bigger your company is, the more likely you are to have one. However, don’t let that intimidate you. Bigger isn’t always better.

 

These communities are used to test and improve their products to serve their target audience better. Thus, allowing the business to save more money as they take fewer risks due to the helpful information they get from their communities.

 

The brands focusing most of their effort on their communities can see an average return on investment of 6,459% — showing you just how important community building is for business.

 

Building a community for your brand provides a high return on investment due to the following reasons:

 

  • Low Acquisition Costs – The technology that exists today to build your community is available for free. You can also use paid solutions if you prefer or want to overcome any restrictions other branded platforms have inexpensively. You can use Facebook Groups to get started. Once your community is large enough or you’ve tested the concept enough, you can then build a community using any number of platforms, from plugins to your shopping cart software to full-fledged active social networks using software like Mighty Networks.

 

  • High Engagement Potential – When you are running your own community, you are in charge of the tone, the engagement, and the mood. The noise created by outsiders will be eliminated so that you can focus on the best engagement possible with each member.

 

  • Quality Content Ideas Generated – Once your group gets moving and people get to talking, you’re going to find so many quality content ideas just in the comments and discussions of your group members. Customers will tell you what they need from you if you just ask them and listen to the answers.

 

  • Brand Loyalty and Retention Increases – When your members see you interact with others in the group, even if it is just printed on a computer or smartphone screen, the immediacy and personal responses you give will make them stick to you like glue. Since it’s easier to keep a customer than getting a new one, this is golden.

 

  • Increase Marketing Potential – Sharing your content and products within these communities provides another space to put your information into the hands of the people who need it but in a more captive way. You only have to promote the community and not each individual product if you don’t want to when using this method.

 

Overall, starting a community around your brand is likely to produce your best return on investment. The low acquisition costs and high engagement created work together to make it happen. You gain so much insight into your customer that you can develop amazing products and solutions for them. The more you get involved and keep your community members engaged, the more value you provide, the more you will increase your return on investment.

 

 

 

 

 

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Five Ways Communities Increase Business Revenue

Communities provide more to your business than just brand awareness, credibility, and loyalty. A branded community also offers more potential to increase your business revenue. And hey, you want to make money, right? I mean, that is part of the reason to start a business.

 

The possibility to increase your revenue means building a brand community is not something you should avoid or skip over, even if it sounds like a lot of work to you. It can be a lot of work, true, but the payoff is enormous if done right.

 

Communities offer one of the largest returns on investments and monetizing it will only provide more value to your members anyway. The more you make, the more you can give your community.

 

Here are five ways to monetize your brand community and increase your business revenue:

 

  1. Digital Products – Promote various digital products from eBooks, reports, templates, images, art, infographics, software, and more. If you can create it or pay someone to make it for you, and it’s digital, you should do it. Digital products are the best type because it doesn’t cost more to generate more of them. Your cost is tied up in the first creation, and that’s it. So, you can promote every single new product you create right in your group without paying for one advertisement.

 

  1. Entrance Fees or Competitions – You can actually monetize your community by making part of it members only for a fee. You can also host various competitions around your niche and ask for a fee for processing the entry – alternatively, you can ask for sponsors to pay for the competition. Be sure to read the rules of the platform and your locality before asking for contest fees, but in most areas, especially in the arts, it’s acceptable to ask for a small entrance processing fee.

 

  1. Exclusive Access Content – If you want to host a workshop, a webinar, or even private YOUTUBE videos, you can provide a special link for people to pay for entrance to view the exclusive VIP content. Using tools like Patreon and other platforms that allow you to provide access to exclusive content is key here.

 

  1. Brand Merchandise – Don’t laugh, but once your community reaches a certain point, they will want merch like t-shirts, coloring books, mugs, stickers, journals, and more that you create and offer to them because they like you that much. It really depends on your niche, of course, but if you have a great tagline and responsive members, try a t-shirt campaign first using drop-shipping instead of spending money upfront for the merch. Then, once you know you have enough interest, you can look for better options.

 

  1. Affiliate Products or Sponsored Content – A really fun way to make more money is to promote other people’s products by signing up as an affiliate or by accepting a fee upfront for sponsored content. Influencers do this all the time, and even if you don’t think of yourself that way, you are an influencer as a business owner who runs a brand community.

Choose Affiliate Promotions That Make Sense for Your Business

Overall, the potential to monetize your community is nearly endless, and the possibilities ultimately depend on your niche and goals as a business. However, these options can work for just about any industry and take your business to new earning potential. The great thing about promoting items for sale in a branded community is that customers who join these communities expect to see promotions and be offered amazing deals. They are ready to buy if you’re ready to provide them with what they want.