Building on their successful brewery, Jason and Jim Ebel have launched a line of liquors for their company, Two Brothers Brewing. "You are seeing more locally produced spirits, but our goal here was to bring some creativity to it and do something different," Jason Ebel said.
Facebook marketing tools can help small-business owners maximize the value of their existing customers, Syed Balkhi writes. Consider uploading an email list to find your existing customers and then developing lookalike audiences.
Dissatisfied customers aren't always the loud ones but those who will tolerate you and give you money until they can jump to a better offering, writes Tamara Kleinberg of GoToLaunchStreet. Withstanding this disruption requires, among other things, putting yourself in the customer's shoes to identify frustrations and being willing to reinvent your business model, she writes.
Businesses that make a point of contributing to worthy causes gain an extra sheen with customers who increasingly expect such philanthropy. As such, the practice can serve as a potent marketing tool that can also prove attractive to employees and top talent when you're searching for new hires.
Amazon, Google and Facebook are among the companies that have employed artificial intelligence to effectively use customer data to better market to users, writes Jeremy Goldman. Deep learning and a comprehensive data strategy are the elements missing from most companies' data initiatives, he writes.
Sales teams that don't generate leads often lack a solid lead-generation plan or are too focused on servicing existing accounts instead of developing new leads, writes Matthew Sunshine. To address this problem, establish lead generation as a priority and make sure representatives are compensated not just for completing sales, but for generating leads.
The US wealth gap could be addressed by providing a guaranteed basic income of $500 per month for every American worker that earns less than $50,000 a year, according to Facebook co-founder Chris Hughes. The program would simply be an expansion of the successful Earned Income Tax Credit plan, Hughes said.
Mobile apps make up 44% of e-commerce transactions in North America and two-thirds of all total mobile online transactions, indicating the need for online retailers to have a user-friendly mobile app. However, retail subcategories including sporting goods, fashion or health and beauty are less likely to be affected by the lack of a mobile app, according to Criteo's report.
Machine learning can help companies mine data to find opportunities in their existing information, which ultimately improves sales teams' conversion rates, writes Matt Lacey. In addition, machine learning can provide for predictive algorithms that suggest relevant products to potential buyers.
The key to reaching out with cold emails is to focus the message on your recipient rather than yourself, writes Judith Humphrey, founder of The Humphrey Group. Consider mentioning a shared interest, discussing a shared contact or expressing admiration for the recipient's accomplishments.