If you are wondering how to improve your small business, the best way to do so is to look at other successful businesses. Ask yourself, “What made them successful?” Then use their strategies for yourself. For those unsure what strategies or companies to look at, check out these legendary businesses down below.
Coca-Cola has been a renowned brand since 1892. Why is that? The answer isn’t as complicated as many people think. One of the biggest things entrepreneurs can learn from Coca-Cola is how to do messaging.
Coca-Cola doesn’t just sell soda in a can or a bottle. It sells an emotion in a bottle. That’s why it’s slogans over the years have ranged from “Enjoy Thirst” to “Taste the Feeling.” For entrepreneurs, you’re not just selling a product. You’re selling an experience and an emotion. You want people to feel good about your product.
So convey what people will feel or do with your product or service in your messaging. Additionally, Coca-Cola has simple messaging that is easy to remember. Don’t get too complicated in what you’re trying to say.
Toyota not only has reliable cars, but the company also has a community-oriented goal in mind. The Toyota Production System focuses on reducing or eliminating waste. By eliminating the waste of their production line, Toyota can leave a better footprint on the earth.
Customers want to get behind a company that is improving the world for the better. As an entrepreneur, you should consider your impact on the community and the earth. Many people of younger generations value eco-friendly alternatives, and these age groups will be who you’ll work with in the future.
While IKEA embraces its Swedish culture through its furniture names, what makes this company legendary is its walkthrough furniture store. Customers can imagine themselves in the staged rooms because they can touch and feel the space for themselves. If a customer is unsure of how something will fit in their home, they can go to the IKEA store directly and see for themselves how it looks.
Also, IKEA has plaques next to each room with stories about the imaginary people who live in it. You can tell the furniture store truly knows its customer base and who will benefit from each room most. For your small business, you should make it easy for your customers to imagine themselves using your product or service. Try to use other senses besides sight. Make sure to tell a story behind what you offer, so patrons can envision what it will do for them.
While not every strategy these companies did will work for your business, you can take a look at their way of thinking and apply it to your own business. Study what your customers really need and want. Then adjust your business plan to match that.
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