Want to learn some marketing ideas from big brands or figure out how to price your products properly? Or are you thinking more about your future career goals? This week’s gig economy news provides thoughts on all these important entrepreneurial matters.
6 marketing lessons that big brands can give small businesses
Here are six takeaways that Mashable recommends new entrepreneurs take note of.
1. Use experiences, such as events, to bring your brand to life through social media.
Events are great ways to connect with customers and inspire them to share their experiences on social media.
2. Use real-time marketing.
Take advantage of current events and holidays to comment online. Funny statuses in particular are great food for viral real-time content .
3. Create original, compelling content.
4. Use technology to create, track, and analyze marketing campaigns.
5. Build communities around time periods and points of nostalgia.
For example, Pepsi did a great throwback campaign to a time when soda contained real sugar: the ‘80s. Customers loved all the Back to the Future, Star Wars, and Baywatch references.
6. Be strategic, including targeting key demographics and differentiating yourself from
the competition.
The secret to product pricing: have one uglier version of the product alongside it.
It seems counter intuitive, but it actually makes a lot of sense. As behavioral economist Dan Ariely says, “If you ever go bar hopping, who do you want to take with you? You want a slightly uglier version of yourself. Similar … but slightly uglier.”
You’re probably wondering how bar hopping translates into getting you more money. Well, take the Economist’s recent pricing plans. At first, they offered online-only access to the weekly magazine for $59 or print and online access to the weekly for $125. Most customers chose the online plan because they didn’t see much of an added value by doubling the price and getting the print.
Then, a happy accident occurred. They mistakenly offered a third option, which was only the print edition for $125. As you can imagine, no one signed up for this ridiculous plan. But after they saw that the print edition was valued so highly, a majority of their subscribers switched to the online and print plan at $125 because they felt like they were getting a better deal. Food for thought, right?
Want to pursue your ideal career path? Here’s how.
Many of you know the feeling: your professional life is safe but you know in your heart that you’d like to be doing something more meaningful. Having a plan, like anything, can make considering this transition easier. Here are three tips from Fast Company to get you started.
1. Take risks and be fearless.
Nothing will happen if you’re too scared to take the plunge.
2. Figure out what skills and/or experience you need to advance.
This may require investing time and money to increase your skills or profitability, such as doing an unpaid internship, creating content for free, or taking classes. While you’re thinking about these costs, it’s important to ponder the long term benefits, not just the short term.
3. Find good mentors.
This will be crucial as you develop a new professional identity.
With these three attitudes, you will have a full proof strategy to transition into more fulfilling work!
What do you think someone needs to transition successfully into a new career? Share your advice with us in the comments below.
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