When you start a business and you focus on making it work, there is a bigger question lurking behind you, tapping your shoulder for attention. How do you make your business last?
The success factor starts in the mind of the business owner, according to Singaporean expert Sun Yee Ho of Decision Process International (DPI) who came to Cebu to share his thoughts on strategic thinking during a general membership meeting of the Cebu Chamber of Commerce and Industry.
Even when you manage to sustain your business, there is another daunting question. How can you make your business survive during tough times, like the Great Recession of 2008 or the Stock Market Crash in the 1930s?
The answer sounds so simple: strategic thinking.
It is a common sight in Facebook groups, especially those with a large following, to see one or two persons promoting real estate development. A common sight, too, is that rarely are there interactions about their posts.
Take for example my experience as a member in a 3,000-strong book lovers group where anyone from anywhere in the Philippines can share their love, or sale, of books. One time, a real estate agent with a suspicious profile photo came in, told the admin to delete his post if it is not aligned with the group’s advocacy and went on to post a promotion of a financing scheme for condominium units in Manila.
Every time I see a post like this on the social media groups where I am a member of, two things automatically pop in my mind: that the real estate agent is either too busy or too lazy to care where he will put his promotions and that he really needs help, some crash course in social selling.
Yes, you read it right. A sandwich can help motivate your friend, co-worker or anyone (whether hungry or not) to take in the feedback you are giving.
First of all, there are two types of feedback, the negative and the positive.
Giving a negative feedback is tricky. It is a powerful tool that can propel business or personal relationships forward. Or it can break them. That’s why you need to know HOW to give them.
The deluge of information, tip sheets and whatnot you can find online about bolstering your brand can either make you gritty or giddy. Sometimes, at the end of the day, your understanding of the word “brand” can become slightly displaced.
Jacqueline Alexis Thng, chief executive officer of Lexis Branding, came to Cebu late last year to put the basics (and trends) about branding back to the table. Read More
SOCIAL MEDIA TO THE CONSUMER’S RESCUE
How many times has it happened to you when food being advertised on TV or food porn pictures on Facebook automatically brings your salivary glands into overdrive. You get an insatiable craving for that food that you have little choice but to promise yourself to dine there at the next possible opportunity, like immediately that night.
And when you finally get a hold of the supposedly big-portioned burger oozing with juiciness with melting cheddar dripping all over, reality sinks in. Whatever you saw on the ad is nothing like whatever it is you are holding in your hand. The so-called quadruple-pounder of 100% Angus beef burger is a sad version of it’s pimped-up self on the media.
When false advertising happens, it is your right as a consumer to bring it to the attention of the Department of Trade and Industry. Among the objectives of The Consumer Act of the Philippines (RA 7I394) is to protect the interest of the consumer against deceptive, unfair and unconscionable sales acts and practices.
Brands that know how to “laugh” at themselves can win the hearts (and attention) of their target customers. That is true if the placement is perfect and it is well within the marketing plan of the brands.
But what can brands do to ride on “memes”? It’s a concept known as memejacking.
What is a meme anyway? Hubspot mentions that “a meme is quite simply a concept, behavior, or idea that spreads, usually via the internet.”
Filipinos are now starting trends or memes where they poke fun at nostalgia. Take for example the recent viral trend of “Sarah ang Munting Princesa” and the “Patatas Meme”. You may have seen this meme shared on your newsfeed. Or maybe saw one but didn’t “get” the joke.
Some news outlets mentioned that no one knows where the trend started. Unlike other memes where origins are very much traceable, the source of the “patatas meme” still has to be uncovered. Checking some source online would bring you to the meme’s own Facebook page and Twitter profile. It has thousands and thousands of followers and fans in such a short period of time.
Now if only brands know how to tap these kinds of “viral” themes, it could well be a blast for them and their audience. Do you think it would be appropriate for these brands to mention a Princes Sarah Patatas Meme?