Why Business Must be Exciting
When people typically think about business, they think of financial numbers, logistics and regulations. However, the business field are far more dynamic, and the importance of building relationships shows that being engaging is especially important. The role of entertainment in business is critical, and businesses in the modern world need to be exciting to succeed. Here are a few of the reasons businesses need to be exciting.
Advertising can be Fun
Major sporting events draw an audience far larger than just sports fan, and some people tune in specifically to watch the commercials. Early television and radio commercials simply stated basic reasons why potential customers should consider a particular business, but modern ad-makers understand that these messages can be conveyed in an entertaining and exciting manner. Memorability matters, and having fun with advertising is a great way to ensure it sticks out in viewers’ minds.
Furthermore, many people appreciate well-done commercials, and its fairly common for people to share entertaining advertisements online. Potential customers, who are often lulled into boredom by standard ads, are appreciative of companies that put in an extra effort. Showing your dedication to enjoyable advertising also implies that your companies cares about other aspects of customers’ relationships to your company.
Make an Impression
Reliability and affordability are at the center stage of traditional business analysis, and these factors must be top priorities for businesses of all sizes. However, businesses ultimately reach out to people, and people are often swayed by other factors. Being exciting starts with business branding, and companies need to ensure that their branding makes an impression.
Exciting branding stands out, and customers are more likely to remember a company that entertains with its logo and other graphical elements. A slogan can be especially effective, as it allows companies to set themselves apart from competitors. People often think of branding on a conscious level, but the subconscious effect of branding might be even more powerful. Customers are more likely to think of a business with exciting branding than one that operates in a more conventional manner.
People spend so much time around advertisements that they often block out most ads. Although the subconscious effect of ads can be powerful, making a conscious impression be be especially effective. Perhaps the best way to meet this goal is to focus on entertaining viewers and listeners.
Unlike past methods of grabbing attention, such as turning the volume up on commercials, companies can now rely on more sophisticated techniques thanks to the various entertainment venues that offer advertising space. A powerful technique is to integrate multiple advertising platforms; advertising a game hosted on a company’s website, for example, and boost traffic to the website, which can eventually cause potential customers to find out what else the website has to offer. These techniques, however, require starting with a strong hook to capture customer attention.
Although people tend to be a bit more cynical about companies and advertisement than in the past, customers still feel loyalty toward brands they enjoy, and these customers can be effective advocates for a company. A great method for building brand loyalty is to ensure a company excites viewers as much as possible. Again, advertising plays a key role, but there are other ideas to consider as well.
Loyalty reward programs can make the act of interacting with a company more exciting. Video game companies have honed this skill well, and players are rewarded with incentives for playing and purchasing expansion material. In the social media age, customers can also function as advertisement boosters. Offering a sweepstakes for people who share a post, for example, can make spreading information about a company an exciting act.
As all business professionals know, those who innovate first are often rewarded handily. This certainly applies to innovation, especially in the tech and automobile industries, for example. It applies toward advertising, brand management and other areas of business as well.
Pioneering often requires taking risks, which makes some company owners and managers reluctant to stray from typical practices. However, competitive industries reward those willing to take on these risks, and boldness in the name of being exciting can pay off large dividends in the future. No company is too small to try to innovate, and companies that offer services in a small area often have the most to gain by taking risks to entertain and be exciting.
Running a company, especially when it comes to interacting with current and potential customers, requires adapting to current times. While this presents a number of challenges for companies, it also provides a host of opportunities. Entertaining and exciting those a business’s interacts with is essential for gaining an edge on the competition, and efforts toward these goals are likely to pay off.
Chris Burch is a leading venture capitalist and the founder of Burch Creative Capital.