Diversifying Your Product Line: Tips for Start Up Clothing Brands

/in /by

StrategyDriven Starting Your Business Article |Start Up Clothing Brands|Diversifying Your Product Line: Tips for Start Up Clothing BrandsIt’s an exciting time when you’re starting your own clothing brand. You get to decide what pieces are your signature pieces and how much they’ll cost. But there is one decision that can be difficult – diversifying the product line! Should you include more than just shirts? What about hats or shoes? How many colors should each item come in? The following tips will help you make this important decision for your business.

Diversify Into Uncomplicated Product Lines

If you’re starting a brand from scratch, it’s best to diversify into uncomplicated lines. This means that each product should be relatively simple in design and construction. When you’re first starting out, it’s important to focus on quality over quantity. You want customers to be impressed with your products, not overwhelmed by them. For example, if a student brand launched with a baseball cap in 3 variations at the start, it would be safer for them to diversify into snapback caps or flat caps. The key is to understand how well your supply chain is geared for change and variation.

Look For Low MOQ Suppliers

Another way to simplify is by looking for low MOQ suppliers. Instead of purchasing a large batch from one supplier, you can purchase smaller batches from multiple suppliers and test the market response. If successful, you can then begin making larger orders with those same suppliers and others that have proven their quality and reliability over time.

Experiment With Branding Alternatives

Once you begin diversifying, it’s important to experiment with branding alternatives. For example, you may want multiple logos or brand names representing different styles within your product line. This makes it easier for each item in the collection to stand alone and be marketed separately from one another.

For example, An athletic clothing company could have a logo representing their casual wear and a different logo for their performance wear.

This gives customers the option to choose what they want to buy based on style or function, making them more likely to purchase multiple items from your brand!

Research Your Size Ratio On Production

When you’re ready to start production, it’s important to research your size ratio on production. This will help you understand how many of each size to produce. If a style is popular among a certain group, make sure to increase the quantity of that size in your next order!

On the other hand, if there is one size that is consistently not selling, you may want to discontinue it from your product line.

Clothing brands are always changing and evolving, so it’s important to be willing to make changes to stay competitive. Use the tips above as a guide, and continue experimenting until you find what works best for your business!

Ask Your Market What They Want

The best way to find out what products to add to your line is by simply asking your market what they want. This can be done in a number of ways, such as surveys, focus groups, or social media polls.

Once you have an idea of the types of products that people want, it’s time to start designing and producing them! This route also has the added benefit of giving your customers a sense of ownership in the brand. They will feel more invested and loyal if they were involved with creating it themselves!

Diversify With Cheaper Up-Sell Products

Another way to diversify your product line is by offering to upsell products. These are items that complement the original purchase, making it more likely for customers to buy them together. For example, if you sell a pair of trousers, offer private label socks complementary to the trousers.

This strategy is especially effective if you’re selling high-end items, as it gives customers a way to personalize their purchase and show off their unique style!

In conclusion, there are many ways to diversify your product line as a start-up clothing brand successfully. By following the tips above, you can increase your chances of success while keeping things simple and manageable!

Smart Ways To Get More Customers For Your Business

/in /by

StrategyDriven Marketing and Sales Article |Get More Customers|Smart Ways To Get More Customers For Your BusinessThere are many important facets to consider when running a successful business. Yet, no matter what else you concentrate on, getting customers always has to be a top priority! The good news is you can find some clever ways to maximize your customer numbers, below.

Foster a strong customer base

Most businesses spend their time and their money attracting new customers. However, it is vital to remember that selling to someone that has already bought from you and was happy with their experience is so much easier than getting a sale from a cold lead.

With this in mind, tapping your base of previous customers by sending them special offers, providing loyalty programs, and encouraging them to recommend friends and family is essential if you want to maximize the number of customers you have.

Indeed, if you do things really well and put the onus on making sure every customer has an excellent experience while shopping with you, you may find that they will advocate for your brand and products online. Thereby securing even more customers!

StrategyDriven E-Learning Marketing System | Online Training | Online Training Program | Entrepreneurship | Revenue Growth

Improve your SEO

If you want customers to be able to find your site and the products and services you offer, then you will need to boost your SEO. The good news is there are many tactics you can use to achieve excellent results and ensure interested parties get to see links to your website before many of your competitors.

First of all, make sure you publish new and varied content regularly. It has to include value for your target audience as well, so be sure to do your homework and understand the type of issues that your ideal customer may come up against.
Partner up with other businesses and brands that also appeal to your target market as this can help your brand gain additional exposure to people that could turn into valued customers.

Be sure to get your business’s name out there on the web. Of course, that means using all the usual social media channels like Facebook, Linked In, Instagram, and Snapchat. However, it’s also important to remember that some other valuable platforms and services will be useful as well, such as independent review sites like TrustPilot, Reddit, and Google.

Indeed, when it comes to Google, setting up a profile on Google My Business is one of the most important things you can do. The reason is that it allows your business to be found by those searching in the local area and with the map function, something that should help you attract and sell to more customers.

Connect with the community

Whether your business is local, national, or international, it pays to remember that it does not exist in a vacuum. Indeed, whether you are operating online or IRL, you will be surrounded by a whole community of people.

The good news is that by becoming active in the community you can make better connections with potential customers, and secure more for your business. Indeed, there is a whole range of ways that you can get more involved in your community from hosting local events to sponsoring charities. Just be sure to pick something that sits well with your business’s values as you will want to do some genuine good, and avoid it looking like a cynical ploy to impress people!

Things To Help You Land Your Dream Job

/in /by

StrategyDriven Practices for Professionals Article |Dream Job|Things To Help You Land Your Dream JobLanding your dream job might not be as far off as you think. With the right tips and tricks, you can easily become more suitable for the role that you have had your eyes on for a while.

If you are in the process of changing job roles in order to achieve that dream career, then here are the things you need to do in order to make it become more achievable.

Gain new skills

Should your dream job require new skills, then it is useful to gain them before applying for the dream job. It will make you look more attractive and suitable for the role.

For instance, you might want to become an actor and know that your job role requires voice-over skills. Hence, getting help with voice over training could be just what you need in order to enhance your skillset and master the skill that you need in order to be more fitting for your dream job as an actor.

Enhance your own personal skills

Your own personal skills will come into play when trying to achieve your dream job. These include organizational skills, social skills, and more. These will contribute to your character and work ethic, and will, therefore, be useful to make you suitable for the role.

For instance, should you want to be an entrepreneur and kickstart your own business, then it is useful to know about some skills that every entrepreneur should have.

Firstly, you will need to know what business you want to create and have a business plan. Being a good planner is essential as an entrepreneur and you will need steps in place in order to create a clear path to your end goal.

Thereafter, it is essential to be a good team leader and know how to organize a team. Doing so will ensure that your business is efficient and works well towards your goals, which will make your entrepreneurial business become a greater success.

Other skills include:

  • Great time management – to ensure your business doesn’t fall behind and lose out on the competition.
  • Problem-solving – so that your business’s success doesn’t get haltered should problems occur.
  • Customer service – every great business offers great customer service. Customers are the backbone of any business and keeping them happy will benefit your business’s success.

Know the right people

When it comes to landing your dream job, sometimes it isn’t all about what you know. Who you know can also help you become more successful in your job application. Hence, it is useful to do some networking so that you get to know as many people as possible.

The more people that know you, the more recommendations you might get and the more good words will be shared about you with your future employer.

You can network at industry events and get to talk to people. Sharing your name and your skills with people will ensure that you can be recommended to the right people and places, which can help you be one step closer to your dream job.

How To Cut Business Overheads

/in /by

StrategyDriven Managing Your Finances Article |Business Overheads|How To Cut Business OverheadsIt’s crucial that you spend money on your business. If you just set it up and hope that people will find it and start paying for your products and services, you might be lucky – this could happen – but it’s far more likely that you’ll make little to no sales and that your business simply won’t succeed. To be noticed, you need to spend money; you have to market effectively. Yet, in order to have the funds to market in the right way, you may need to cut back on other business overheads, especially at the beginning. With that in mind, here are some of the best ways to do that so that you can invest in your marketing strategy and start to build your business up.

Have A Review

The first thing you’ll need to do once you realize that you must cut back on your monthly business expenses is to have a review. Ideally, you should ask your accountant to help you since they will already be privy to the income and outgoings of your business and may already have some suggestions as to just what you can do to make things more streamlined. Assuming you have an accountant to do your booking keeping and other financial tasks, it’s time to engage them to give your books a thorough overview. They can then give you their opinion on what you can do away with entirely, what you can reduce, and what you’ll need to keep paying for.

If you don’t have an accountant, now is the time to hire one. Although it is an additional expense, your accountant will be able to ensure your business is running profitably, and they will take the financial tasks away from you, allowing you to concentrate on the marketing and other aspects of the business.

Speak To Your Employees

Although you may not think to do this initially, the fact is that your employees are crucial to your business, and they see a lot of things first-hand that you won’t see when you’re running the business. Therefore, it’s important to take this into account and speak to your employees about anything they have noticed that might be wasteful and, alternatively, anything that you’re not currently paying for that would enhance the business.

You don’t have to take their advice – this is your company, after all. However, it could be that some excellent ideas come from this consultation that you would never have considered before.

Buy In Bulk

Buying in bulk can help save money in many areas of your life, not just in business. Of course, you may need to spend more than you had intended to when you buy a lot of one product in one go, but if you can negotiate a good deal, you will be saving money overall when you consider the cost per item.

The key is to buy things that you know you will be able to sell – there is no point in getting a great deal on a product and then finding that no one wants to buy it. If you can pinpoint what your customers want and buy in bulk – saving money – and then sell at the usual price, your profits will go up and you will have reduced your outgoings at the same time.

4 Characteristics of a Modern Data Management Strategy

/in , /by

StrategyDriven Organizational Performance Measures Article |Data Management|4 Characteristics of a Modern Data Management StrategyClean, comprehensive data is one of the most, if not the most, useful assets at an organization’s disposal. Data analytics is a major driving force behind business leaders’ efforts to streamline operations, connect with new clients, and gain an advantage over competitors. Unfortunately, for many organizations, efforts to devise and execute strategic initiatives tend to be hampered by the need to spend significant amounts of time and financial resources toward compliance with regulatory mandates.

In the world of business today, regulatory standards and requirements change at dizzying speeds, shifting the needs and responses of financial institutions in turn. Hence, it’s more necessary than ever for organizational decision-making to be proactive, fast, and above all data-driven. If an organization’s workforce and resources are spread thin just attending to daily upkeep and scrambling to meet complex regulatory demands, it will have little time and energy left to focus on profitability.

Many digital solutions available today promise a stable data foundation that will allow companies to handle their information more accurately and efficiently. Employing such solutions is a key step for organizations to develop an up-to-date approach to data management. Some essential qualities a modern data management strategy must have include the following:

Well-Integrated and Unified

One of the greatest challenges organizations face when it comes to data management has to do with depending on siloed legacy systems that make it difficult to collect and reconcile data across multiple sources. Such essential areas as risk, compliance, treasury, and finance often make use of disparate databases and reporting tools. This fragmented approach can, in turn, hinder necessary interdepartmental communication and make it difficult to gain an enterprise-wide perspective.

Above all else, a modern data management strategy seeks to create a single, unified source of truth that is able to pull essential data from multiple sources. This ensures that useful information can be aggregated and accessed across all units within the enterprise. The right digital solutions will be able to perform these unifying functions with great efficiency and accuracy, reducing operational costs and eliminating the risk of redundancies and inconsistencies in your data.

Automation saves valuable time that would have been spent on data collection and reconciliation, allowing you to channel it toward more productive analytical efforts. With a clean, consolidated source of information at your fingertips, your organization will be well-equipped to mine deeper, more substantial business insights at a faster pace than before.

Agile and Adaptable

Demands from regulators, customers, and the market itself can shift radically by the day, if not by the hour. More often than not, organizations are then judged by how quickly and creatively they are able to respond. Hence, it’s imperative for any company to find ways to boost its business agility and react expeditiously to any major changes.

Manually sourcing, tracking, and verifying data across siloed systems is a slow and error-prone process that can be damaging to an organization’s overall performance and reputation. Utilizing an integrated data ecosystem that spans across the entire enterprise is an effective way of reducing reporting-related risks and costs. You’ll be able to access established data structures for known use cases and meet future business demands more quickly—even those you may not have foreseen.

Extensible and Scalable

A robust, extensible data ecosystem will protect your company from being caught off guard by changes in the business and regulatory environment. Look for all-in-one cloud-based data management services that will enable you to build applications that are highly scalable and support all data types, including graph data, relational data, and structured or unstructured nonrelational data. Utilizing this technology ensures that your organization will have access to all the information it needs, presented in the most productive possible way, at any given time.

As previously mentioned, having to spend less time on reconciliation opens up more time for meaningful data analysis. More concretely, this means your company will have more space to develop insightful products and useful offers for customers, thereby driving overall profitability upwards.

Traceable and Transparent

The need to ensure data accuracy and integrity is one major reason manually compiling data for regulatory audits is so intensely time- and labor-intensive. Inconsistencies such as double entries and erroneous calculations can cost an organization dearly in penalty fees alone. The volume and granularity of such manual work, however, makes errors all but inevitable from even the most diligent and well-trained of personnel.

Good data foundation solutions, meanwhile, will be able to gather and process even the most difficult data and standards with ease. Such software likewise comes equipped with features for extensive data tracking, ensuring full transparency and comprehensive records throughout every step of the reporting process. Your company will no longer run the risk of missing deadlines, running up substantial operating costs, or facing hefty penalties.

As data interactions accelerate and more important information from the market becomes available in real time, developing an efficient data management strategy becomes a must for companies of any side. Organizations seeking to operate competitively today need a solid data foundation that can help them adapt to and rise above the demands of the current business landscape.