There’s a lot to consider when starting a business. While you may have successfully secured a loan, have you addressed the following legal fundamentals, such as choosing the structure, paying tax and securing insurance? As Brisco Business note, for the latter, “having complete business insurance keeps you and your company financially protected following unseen events, including theft and damage to your tools and equipment, client claims made against you, or accidental damage to a third party’s property.” Once you’ve covered this, move on to sorting out your self-employed tax, as it is entirely your responsibility to declare in the budding stages of a new business.
When the boring stuff is out of the way, your new business venture will be set to take off. You’ve spent months planning, strategising and investing in its launch, and it’s all very exciting. The company name has been registered, capital finances are finalised and the product (or service) has been through many developmental stages. It’s your time to shine, but how do you get your business noticed? While there’s nothing wrong with the most common marketing campaigns companies use, we’ve got some wildcard strategies to help you gain more attention.
NFTs (Non-Fungible Tokens) have taken the world by storm and seemingly everyone is talking about them. An NFT is a digital certificate of authentication that allows buyers to purchase and receive ownership of a digital asset, such as an image, video or animation. These can be used to represent real-world items like artworks and real estate too, but cannot be traded or exchanged like cryptocurrencies. NFTs allow brands to regain control of creations without worrying about copy-cats, manipulation or alterations.
While some find it hard to comprehend what exactly a NFT is, or indeed its worth, this token type has provided fresh opportunities for brands, enabling them to give customers an experience they won’t find anywhere else. In the same way, your new business may benefit from offering consumers an NFT-based loyalty system. When they buy something, they can scan their NFT code and receive loyalty points. Depending on the nature of your company, say you’re a non-for-profit organisation, you could use NFTs to raise funds for charity, or opt for gamification tools like McDonald’s Monopoly to reach your market in a fun and edgy way.
The early bird catches the worm, right? This is certainly true for using new social media platforms. Regardless of this, a social media presence is essential for any business, especially in 2022. On top of posting regularly and building your brand, keeping track of emerging trends is important to help you reach out to different audiences, drive traffic to your website and see what types of content work.
You’ve heard of Instagram, TikTok and Twitter (most businesses get their brand up and running through these platforms); these are immensely popular and frequently updated with new features. While there’s no issue with sticking to what you know and following the herd, what about being an early adopter of new updates or platforms? This can help you create a book of clients faster, get one step ahead of your competitors, and become a thought leader in the industry. Clubhouse, CloutHub and Spaces are just a few examples of fresh apps you can try out. Don’t be scared to use something new — it may boost your followers and sales!
Sometimes a way for your business to stand out is by being a little controversial. Although most tend to avoid content like this, as it can provoke backlash, it can broaden awareness and provide a better understanding of specific issues. This prompts an emotional response in consumers, which leads to increased engagement and work in your favour.
That said, there’s no point aiming to be controversial for controversy’s sake. You need to encourage individuals to discuss and interact in a way that benefits your brand and customers. Talking about taboo subjects isn’t a bad thing — if it generates a positive reaction. For example, in recent years, Pantone have run a campaign to destigmatise menstruation and the colour of periods, UniLever have addressed domestic violence and Airbnb have shown public support for refugees despite the topic being divisive. If there’s something your team feels strongly about, there’s no harm in making a few waves here and there.