Month: April 2020

How to start a furniture business?

furniture business

Are you planning to start a furniture business? Well, if you are new to this industry and wondering how to begin, here is the guide you should check. Before starting the business, it is important to research about the furniture business in your locality or the locality you are planning to establish. By clicking the website Furniture Store Find, you can get complete store details in any locality you wish. Besides, check the full list here about how to prepare the business plan.

To succeed in the furniture business, you should keenly focus on good products. Research for furniture manufacturers who provide attractive design, quality, uniqueness, and variety. The range and collection of items you have will help you in staying ahead of your competitors.
Before starting to create the business setup, you should prepare a business plan. The business plan helps in keeping entire things in order and guides you from setup to execution. It consists of several segments.

Executive summary: In this step, you need to draft a concise and short statement of the current business position, financial requirements, financial features, and business concept.

Business Description: This is the most important step where you have to draft the furniture industry. You should also write why you want to be part of the furniture industry. Ensure to include the future outlook and present state like developments and trends affecting your business negatively or positively. Ensure to include the rate and manner you can earn profit and your business concept. You should explain the features that support your thoughts.

Market strategy: In this phase, you will be explaining about several factors like:
· Determine the outcomes of market research you conducted. Know your target market’s profile and determine the status in market share. Identify your market positioning in trends, structure, size, sales potential and growth prospects.
· Determine the pricing scheme. The product’s price should cover operating expenses and the markup price associated with the desired profit. Moreover, factors such as distribution, economic fluctuations and demand should be considered. The price list should be equal when it is not less than your competitors.
· Brief your promotional plan. Ensure to focus on important subsections like sales potential, personal sales, sales promotions, public relations, and product packaging.

Business development plan: Here, you need to concentrate on three areas like organizational development, market development, and product development. Mention the objectives for each area. Take account of the steps to accomplish these goals.

Management and operation plan: In this section, you can describe everyday business functions and determine your manpower and logistics requirements and also determine the tasks of your departments.

Financial management: In this section, you have to indicate your capital requirement and financial statement. Also, include the sum of your liabilities and assets. Explain how you will be allocating the start-up capital and sharing the cash or income flow.

Retailing
After completing the business plan, you have to pay attention to trading and associated aspects of it. The furniture shop will come under specialty retailing as it addresses a particular requirement or need of the customer.

Emerging trends that can revolutionize the digital marketing trends in 2020

digital marketing

Consumers are becoming smarter. With a plethora of information at fingertips, the shoppers’ expectation about the brands is increasing. What do the companies need to do to stay ahead of the customer expectations and brand competitions? Well, the right marketing strategy is the only way to stand apart and to connect with the customers. Popular digital marketing companies like Caseo follow some essential strategies that put them ahead of the others. The e-commerce sales review of the past years explains the essentialities of right marketing strategies. Let us go through some of the key strategies that any company should follow.

Artificial Intelligence: the present and future of digital marketing

Thanks to Artificial Intelligence, the technology is rapidly expanding and providing a complete virtual world experience to customers. Artificial Intelligence has been critical for the market’s increased revenue and the increasing customer acquisition because of its innovative tracking and analytics features. Machine learning has made this feat possible and enabled marketers to understand the various touchpoints of shoppers.

Similarly, another significant breakthrough of Artificial Intelligence is Augmented Reality that combines digital information and the physical environment at real-time. AR technology has opened up unique and customized shopping experiences for shoppers.

Automation, another AI feature, allows marketers to automate most of the application, thereby saving manual efforts and time.

Short videos that keep the customers engaged
Social media brand promotions are mostly the video contents that are short and that attract customers inadvertently. Gone are the days when video productions were a hassle that emptied the brand promoters’ pockets. Now, video marketing only requires a short informal video that can be used on YouTube, Amazon or any other Social media platforms. Several applications like video display ads, YouTube TrueView video and discovery ads, allow the marketers to promote story-driven content in more natural ways.

Email marketing and your website can also leverage the video experiences, which in turn enhances the user experiences.

Transparency for consumer trust
Increasing online frauds and phishing episodes have made the consumers a bit sceptical about sharing personal information while interacting with the brands.

Trust is essential for a brand to establish a connection with the customers. If your brand essentially requires the customers’ information, be upfront with the details. Inform your customers about the need for the data collection and show how these data will help in building their relationship with the brand.

Social proof
The overwhelming collection of information from different brands may put your customers in a dilemma. An average customer heavily depends upon the reviews of the brand from the past customers. Hence, it is essential to increase the review of your brand. Making a few people talk about your brand can increase credibility.

The first and foremost step to achieve this will be to add the product tutorials, FAQs and pictures of your products into your website or social media accounts. This can improve the credibility as well as the trust upon your brand. The customers trust other customers. So, incorporating user-generated contents like reviews, testimonials, ratings, and live sales notifications is more likely to earn you more customers.

Technology changes constantly, so is digital marketing trends. To remain in the competitive market, be attentive and creative. Master new technologies and innovate new ways to market your brand.