#AskPeshev 185: Differentiating Your Business

#AskPeshev 185: Differentiating Your Business

March 22, 2023

In the United States alone, there are over 30 million small businesses, all competing for a share of the market. So, if you don't aspire to get ahead of the game, you will soon be left with no choice but to stay out of it. Thanks to the very competitive market we are in up to this day, we managed to create and develop a business revenue model that sets us apart from the rest of our competitors: WordPress retainers. Since its inception, WordPress retainers changed the game for our company over the past 8+ years. (Read my latest blog post to know more)In this edition, I've also said so many helpful articles around the web. Check them out šŸš€ Mario My Take Strategies for Differentiating Your Business and Standing Out in a Competitive LandscapeCan you invent an ā€œirresistible offerā€ (or a ā€œgodfather offerā€) that is killing it on every landing page? I canā€™t! Are you struggling to differentiate yourself from the competition and create a compelling offer? WordPress retainers have changed the game for our company over the past 8+ years, even if they are not easy to use.Read moreā€¦

 Business Strategy 

  • DOW: 32,560 (+0.98%)

  • NASDAQ: 11,860 (+1.58%)

  • S&P: 4,002 (+1.29%)

*Economy numbers as of March 21st close*

Marketing and branding experts have long touted the power of live video content to build genuine, long-lasting relationships with target audiences. Not only does this help you improve your follower count, but it can also help you boost your brand recognition among new viewers. But to do so, youā€™ll need to focus on how to make your live videos interesting and engaging.Read moreā€¦ Management 

  • GDP Q4 2022: +2.7%

  • Personal Income and Outlays January: +0.3%

  • US International Trade in Goods and Services Deficit January: +1.6%

* Statistics are taken from the US Bureau of Economic Analysis *Forbes: 4 Organizational Practices Business Leaders Should Be Implementing In 2023Over the last year, business leaders have continued to face highly unpredictable social and economic environments and 2023 will be similar in many regards. It is expected that the competitive talent landscape, employee burnout, and return-to-office policies will continue to evolve as leaders seek to control costs, meet customer needs, and establish renewed growth as part of business recovery.Read moreā€¦ Recruitment 

  • 2023 Companies with layoffs: 513

  • 150,518 Employees were laid off in 2023

  • Amazon lays off 9,000 staff, including from Twitch and AWS

*  Statistic was taken from layoffs.fyi as of March 22nd  *The Enterprisers Project: Why Inflation Should Not Stop IT HiringWith inflation driving prices up and leaders looking to reduce costs, employers are weighing whether and where to cut back while simultaneously trying to attract top talent. But instead of cutting staff, IT leaders should prioritize showing employees they are valued. Reassuring current employees in uncertain times will also serve to attract new talent.Read moreā€¦

 Breaking News šŸšØ

  • French President Emmanuel Macron survives a no-confidence vote over his flagship pensions reform, which has sparked weeks of countrywide protests and strikes.

  • American aid worker Jeff Woodke, who was held hostage in West Africa for six years, has been released

  • A 6.4-magnitude earthquake has struck Afghanistan, according to the United States Geological Survey

 Marketing 

  • Ad spending in the Digital Advertising market to reach $701 billion

  • Search Advertising is the largest segment of digital marketing spending

  • Most ad spending will be generated in the United States with almost $300 billion

* Taken from Statista's Digital Advertising - Worldwide 2023 *

The digital marketing landscape is constantly evolving, and businesses that want to stay ahead of the competition must be willing to adapt and try new strategies. From virtual and augmented reality to artificial intelligence and voice search, there are many new technologies and trends you can leverage to reach new customers and drive more sales. 

 Sales 

  • 89% of Amazon sellers are profitable, 37% said their profits increased in 2022

  • 41% of sellers now market on social media, a 15% increase from 2021

  • 50% will explore new e-commerce platform in 2023

* Taken from JungleScout's "The State of the Amazon Seller 2023" report *

ā€‹As of March 15, 2023, Amazon now displays sales volume data for each product within the search results. Have you seen it? Currently, Amazon doesnā€™t give you much information, but it does give you an estimate of how many units of that product were bought in the past month.

 Featured Story of the Week 

About 148,180 employees have been laid off in high tech in 2023 alone. How is that impacting entrepreneurship? šŸ¤” Two schools of thought prevail in terms of startup timing: 1. šŸ’° Launch during a stable and growing economy (easy to close new business with cash flowing freely in the system). 2. šŸ¹ Make the most out of a layoff when losing a job by pivoting something while the iron's hot. The Great Recession didn't spark as many startups as the past 6 months have brought to life.