Wednesday 15 October 2014

3 Components of Interactive Advertising Campaigns on SNS

 
Social networking sites (SNS) have proved to be a veritable tool for organisations and advertising agencies to narrow their campaigns to the most relevant audience. Aside from the personal feelings, it can be used to promote brands, products and services. This platform creates more opportunities for brand engagement as well as provides opportunity for advertisers to gather personal information of their audience for use in future campaigns. . Research has shown that some interactive elements in an SNS campaign can be used to elicit self-disclosure from consumers.

Guda van Noort of Amsterdam school of communication research and colleagues discussed 3 major components of interactive advertising campaigns.
      
     1.     Advertising: This is used to generate traffic for the campaign, and it serves as the door leading to the action page of SNS campaign. The come in form of banners or advertorial on the brand’s website.

     2.      The Campaign: When consumers log in into a social network site, they are presented with an interactive campaign in a quiz or battle game format, some also come in form of text or video of product. Here, the user is expected to perform an action. If the user finds it interesting and enjoyable, there is a higher chance that it will lead to the next component.

    3.      Viral or Tell a Friend: This third component allows users to share the campaign with friends. One of the unique features of a social media platform is the ability to share content with those within their network.

Social media campaigns are gradually taking over traditional methods of advertising, and many corporations are taking advantage of it. Though it doesn’t always guaranty success, but if properly done, the returns are great. Small businesses must begin to take their social media platforms more seriously than before

Tuesday 14 October 2014

Starting a Business: Between Desirability and Financial Resources


In both developed and developing countries, entrepreneurship has been advocated as a means of bridging the gap between the poor and the rich. It been the driving force for economic development especially in capitalist countries. However, the rates of growth of entrepreneurship between developing and developed nations have raised some concerns that seem to suggest that poverty prevents people from starting a business. The implication of this is that poor people who are predominant in developing nations lack the financial resources to engage in entrepreneurial activities. Again, from studies done especially in Nigeria, most people believe that the reason they can't be entrepreneurs is because they lack the financial resources to do so.

For obvious reasons, this argument/believe is faulty. First, starting a business or being entrepreneurial is more of an attitude than it is of financial resources. Those who engage in entrepreneurial activities are driven either by the strong desire to succeed or to meet needs within the society. Secondly, there is no empirical evidence yet to suggest that being rich or having a rich background guarantees success in entrepreneurial activities. Moreover, many entrepreneurs in Nigeria succeeded through determination and hard work, although this two factors seems to be fueled by the desire not to be poor.

No doubt financial capital is important for starting any business, but the desire to go into business and the attractiveness of the business opportunity that exist is more important hence, aspiring entrepreneurs must focus on their psychological needs rather than their financial needs. Entrepreneurs need to have the right mindset, ask the right questions, develop a business plan, and implement a strict business strategy in order to start and succeed in business.

When a good opportunity is identified, it paves the way for financial resources. With the right perception, attitudes, and beliefs an entrepreneur is set to launch out. 

The Briefcase: Changing a Winning Strategy



Sustaining a winning strategy in business is good, however, a time comes when dropping such strategy becomes a necessity even when it is still profitable to the business and the reason is simple – every stage of business growth requires a new strategy, and when a business gets to maturity, it’s an indication that a new strategy is required to sustain the organization in business.

An entrepreneur can reinvent a business by employing deliberate and conscious strategies that will help the organisation compete effectively, and the only way an organisation can maintain its growth is by launching new growth business strategies when the core units are still strong.


Don’t stay too long on a business strategy, you must learn to adjust in a dynamic business world.

Sunday 15 December 2013

A Short Business Walk with Nelson Mandela

Today December 15 2013, Nelson Mandela is finally laid to rest in his home town Qunu. He is a Legend, and the face of freedom in Africa and indeed the world. An iconic leader that earned world respect because of the values he represents. However, beside his personal life and struggles for freedom, there is a business perspective to his name, and there is a lesson for every upcoming entrepreneur who wants to add value to business.
It is in your hands
The decision to make a difference is in your hands irrespective of your challenges. The success of your business is in the choices you make, the diligence you put into work and the values you represent. Take charge, and take action to grow your business.
Perseverance
Taking 27 years out of a man’s life is enough to discourage and kill his dream of a free South Africa, but he refused to give up his ambition. Set your business goal and determine to stand by it. Never give up, and be confidence that you would walk out of that ‘prison’ (Struggles) successful. Successful businesses became achieved success because they hanged on even when it was not convenient. Business will not always go your way, but you have to persevere hoping that the good times will come.
Turning adversity into a brand
46664 is the prison number of Nelson Mandela. However, today this number is not just a prison number but an emerging brand in Africa for a cause. Businesses are set up to pursue a cause – meet needs. Don’t dwell on your problems, always think positive about the challenges you face in business.
No enemies in business
He won the noble peace prize with his former ‘enemy’  and even raised his hand in public. Don’t consider any competitor as an enemy because you are all pursuing the same goal from different perspectives. Think cooperation, think partnership, think welfare of the consumers.
Madiba is no longer with us, but the values he left behind are a great asset for any entrepreneur to imbibe in building a successful business.
Rest in peace Madiba!