In 2022, you will leave a new page for your entrepreneurial adventure. Where are you at with yourself, your brand, your customers, your partners, your staff and your network? Obviously, once again you are attending the month of April to measure the impact of your actions in 2021. Take advantage of this still active period to gain height: browse the history of your year 2021, point your actions to coming and !
Is your personal balance sheet honourable?
It is no longer about resolutions but about concrete actions that you sometimes put in place. The trend, which is more than a month away from the start of the year, is at times slack as they hold back a few more months before the summer holidays, synonymous with the majority of business truces. The question is: in what state of mind have you been since your good resolutions? Are you still on the right momentum? Have you achieved your business goals fully, partially or not at all so far? Reviewing the milestones, what are your greatest satisfactions? Where are you from your copy?
Has the story of your brand played out at full speed?
Are your products still in line with your vision and with the way your customers perceive? It is through their feedback and more particularly their needs expressed throughout the year that you can measure it. Confidence in your services should be at its maximum and you should not take feedback from your customers on the pretext that the company is running at full speed. Please mark must remain in line with your image. If not, adjust it now!
What relational experience have you offered to your clients?
Your customers ensure your turnover; you are satisfied with it and it is time to reaffirm it to them. You can do this through regular communications with the newsletter and also through satisfaction surveys. If you entertain yourself with direct connections, you can open the phone for the news without being too nagging. You can attend at the end of the year to send your traditional card, but it is better to keep contact, however small, before your customers. Also confirm to your customers how important they are.
Did you participate in your network bonus?
Were the connections successful? And if you planned a breakfast or a cocktail with all your partners, customers and hot prospects just before the summer? Here is a great opportunity to establish new privileges and support your prospects in taking action. You can reactivate your network, especially if you don’t need it. In a relationship that is often too virtual, you are thus responding to the salutary need to stay connected in real life with your customers and partners, so it may be time for you to return to events, especially since many have resumed in recent months. and that it might be nice to see those you haven’t seen in a long time.
After two years of the pandemic, because in the end life begins to return to normality: some companies resume face-to-face work and meetings between friends and family in public places are once again common. However, it is undeniable that many people still have a certain concealment due to the lack of sanitary measures in certain places or simply they have taken a liking to doing activities at homeSuch is the case of the exercise. A recent study confirms that fitness apps in Mexico exceeded 9 million hours of use in just one year.
Marketers will seek to maintain the use of fitness apps in Mexico
The American company Rocket Lab analyzed this channel and compared some recommendations that marketers can use to motivate fitness app consumers in Mexico in the post-covid era.
Before delving into the advice, it is important to note that experts predict that the world market for these applications will reach 120 billion dollars in 2030. We assume that we will tend to have a continuous increase of 24.3% per year.
1. Retargeting to recover users
The study urges marketers to implement different technologies that allows them to know the metrics of the use of the application in question and combine them with retargeting campaigns. What will they get with this? That consumers who had already installed the application, visit it again (and they will not have it as decoration).
In addition to this, I insist that create a relevant experience for consumers (personalization) so that, in addition to returning, they make purchases within the platform: retargeting ads serve to promote the redesign of the cross-device purchase process that users carry out through their mobile device.
Geolocation and path analysis of such applications have great advantages for marketers (relieving the hard work of designing a complete campaign). With both elements, users can share their performance through various social networks, encouraging others to seek it out, download it and use it. That is, they serve as ambassadors.
The report further suggests that content and offers on certain articles are shared to consumers to carry out purchases within the application (in-app) or in the physical stores of their choice.
3. Personalized training programs
Any such app must offer various levels of trainingbecause they can be downloaded by users who have decided to exercise for the first time in their lives or, on the contrary, by people who include physical activity in their daily routine.
In this context, the analysis recommends offer tutorials with certified trainers for each level: beginner, intermediate and advanced. This would also improve engagement.
4) Celebrate the victories of your users
It is necessary that these applications measure the performance of your users when walking, jogging, running or performing a specific exercise; Since there is no greater reason to know the steps-kilometers that were traveled and analyze the daily progress.
Stimulating consumer/customer interaction has always been one of the most effective strategies to conquer the mobile market.
“Include new or improved features in fitness apps that effectively combine action, motivation and education, features that today’s consumers require, permission that is vertical to get a larger number of usersyou will need marketers to constantly increase, higher return on your investment and be able to increase engagement with new and old users”concluded Carola Aliaga, Commercial Director of Latam at Rocket Lab.
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There’s a productivity tip I heard years ago. I don’t remember who or in what context. This year, I’m really enjoying it.
When it comes to being productive, that’s not something I really consider. Productivity stems from the need to do many things in a short time. This year it looks like he’s mastered a little “hack” that I also didn’t consciously start.
While reviewing today’s post, an idea popped up due to the need to make an entry in less time than usual. I still want to spend time on the book before playing sports. Then we went on an excursion to Avignon. With this line, I have already given you a hint that today is not a normal day. We are on vacation and it is an optimal time to finally highlight the Amazon book which is more or less in the final stretch.
The hack is this. For a task for which you have 3 days or 3 hours of time, the result is often the same in the end. I push this to the extreme where sometimes in an hour I generate the result of 3 days of work.
The explanation behind this “phenomenon” is quite obvious and a matter of common sense. When you go with the times, you also take your time. It is possible that during these three days, you get up from your chair 30 times to make coffee, clean the house, fix a bookshelf, surf social networks, etc. When instead you have an hour to complete the task and then have to present the results in a meeting, there is pressure to finish. If you know how to handle the stress involved, you will have generated something that is not 100% but maybe 70%, which depending on how you present it can become 85-90% after the have delivered.
In the end it is not the quantity of the result but the quality. In a time frame like the one mentioned, I found a way to save a client between 150 and 200 thousand per year. Can walk. At least it works for me.
When you’ve spent time with a blog like me, you repeat themes. It is inevitable and sometimes logical. Interestingly in this case not so long ago. Six months ago, I answered the question by doing a first calculation with what our Amazon business could be worth.
Important Nuances About Selling an Amazon Business
Six months ago, based on the numbers we had at the time, I came up with an estimated value of 140,000. Here are some nuances and additional information to the first post.
- A business is worth as much as the buyer is willing to pay. It’s always a different situation if they want to buy from you or if you want to sell. The first scenario obviously puts you in a better situation.
- A private label business with its own products is worth more than a resale business. Our own products are already charging more now than six months ago, but we are still at a very low level.
Adapted calculation of the sale value of our Amazon account at the end of 2022
Today we are going to look ahead assuming that we are going to be able to achieve the goal of reaching 1 million euros in sales on Amazon. This could be achieved with more aggressive pricing reaching a lower margin of say 20%. The profit we could get, also subtracting the increased business costs, would be 100k. Six months ago I applied a 2-3 multiplier. Knowing what I know today, I would lower it to 1.5-2.5.
Company value (pessimistic scenario)
In a pessimistic scenario, I would apply the lower multiplier. The Amazon business could be worth 150k. In this case, the buyer would only value what the account generates in a year. We would also be in an active search scenario for a buyer. If you think about it, this sale price would be a bargain because in less than 2 years a buyer could have recovered the investment. For that price, finding an Amazon account with those measurements, I would be interested in buying, but I think that’s a realistic number for a business based on reselling and selling third-party products like ours.
Business value (optimistic scenario)
In a scenario as the name suggests, the multiplier could possibly be higher. In this case, we would have a buyer contacting us with an interest in buying the business. Here the multiplier could be 2.5 and in an optimal case even 3. If we apply 2.5 we would be talking about 250k. If you ask me, that doesn’t drive me crazy either. This is too low a figure for a company that generates 100,000 profits per year. In our case, the profits will increase since we continue to invest and our own products will have an increasingly important weight.
In summary: an Amazon account must have a very high turnover to reach relevant figures. It can also be seen as an opportunity to act as a buyer. Today, I am not adding the potential sale value to the equity. I will add it at some point. We’ll see.