WHAT WE LEARNED THIS WEEK: Build the hype

In the past week two major technology companies delivered invitations tor product announcements, with Amazon and Apple debuting gadgets within the next seven days.

Although the two new products have been rumoured for quite a while the invitations represent a tactic many businesses don’t bother employing – anticipation.

It’s good for businesses to launch new products every now and again to keep things fresh and it’s even better to give your customers something to look forward to.

If you’re thinking of introducing a new product or service why not tell your customers about it beforehand?

Give them a hint of what’s to come and make them interested enough to check it out. You may find it increases your sales because you make more heads turn.

Be in it for the long term

Analysts have been focusing on Groupon this week after the company’s chief operating officer resigned, returning to Google after only a few months in the job.

It also amended its S-1 filing to reflect a change in the way it calculates revenue –reducing it by a significant amount.

One thing to take note of from this incident is that potential investors become nervous when management appears to be in a shambolic state.

When hiring new staff or executives it’s imperative that you make sure they are there for the long term and won’t run if they’re offered a new position.

Ensure that your executive team is tied to the long-term performance of the business and that they share a vision for its ultimate success.

Be careful with search advertising

This week the Australian Competition and Consumer Commission lost a case in the Federal Court against Google after claiming that the company did not provide enough distinction between paid advertisements and “organic” results.

Despite the loss the ACCC issued a warning that businesses should be careful how they use search advertising, arguing that the Trading Post was using competitors’ names to promote advertising through AdWords.

If your company is using AdWords make sure you aren’t doing anything illegal or something that goes against Google’s codes of conduct.

If you’re found out it could cost you more than you can afford.

Instead, figure out how to do SEO right and then make sure the content on your website is as good as it can be.

Look beyond your borders

Many businesses don’t bother to expand beyond their immediate vicinity, thinking they won’t be able to find a market and many others do worse by realising they have an opportunity then ignoring it.

Crowdsourcing design site 99designs announced last week it would be expanding into non-English speaking territory by opening sites in various countries, after establishing local sites in Australia and Britain, among other locations.

While the 99designs website caters to all users, founder Mark Harbottle told SmartCompany it had received feedback that local sites were needed to better suit designers who speak the same language.

If you have an opportunity to expand and provide a better service for your customers that may not be in your original market then you must expand.

By catering to the needs of your customers you’ll help your reputation and gain extra sales that will reward the cost of growing into new areas.

Keep your website fresh 

Kathmandu delivered one of the biggest surprises this week when it announced some fairly positive results, especially for the retail sector.

The company suffered a major earthquake in its home city of Christchurch and harsh trading conditions at the same time, yet managed to produce a positive result.

Part of that is due to the success of its online store, where the company adopted a multi-channel strategy that rewards customers for purchasing online and provides them additional information while doing so.

The Kathmandu site features the company’s entire range of products along with high quality pictures and a flat shipping fee that encourages users to buy more items.

It also provides users with information on outdoor activities such as hiking, sports and instructions on how to unpack tents properly.

The Kathmandu site is a good example of why retail businesses need to offer more than just an online catalogue. Give your users some information, make them believe you are the expert in your field and they will reward you for it.