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Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur Europe, an international franchise of Entrepreneur Media. Earlier this summer when the cost-of-living crisis and rising energy bills were causing justified panic, the UK government launched an initiative that caused some raising of eyebrows. The campaign called on businesses to divert marketing spending into instead cutting prices for consumers. The carrot? Those that do so will be able to show off the campaign name and related badge on their websites… and marketing collateral. For some of the largest firms, this messaging may have carried some clout. Could McDonald's survive a few months without TV advertising to help ensure that staff wages can be increased, or the rising prices of meat and other products aren't passed on to customers? More than likely, yes. But the same advice adopted by a smaller, growing firm could have disastrous consequences. Lead funnels need top...

Admittedly, I've never been cool enough to be part of the Starbucks cult. But in need of a caffeine-fueled pick-me-up on a 90-degree day, I went to the drive-through for a $4 iced coffee.  I soon found myself stuck in the single car-width lane for more than 20 minutes. After daydreaming about how much momentum I'd need to get over the embankment and through the wall of dense shrubs (as one does), my sensibilities won out. I settled on the simple hope that the barista would at least acknowledge the wait. To my surprise, I got more than I had hoped for.  I got an apology and a free coffee.  Almost instantly, my angst towards one of the nation's notoriously slow fast-food chains dissipated--as did the vow I had made to myself to never return. With that, a new daydream sprung to mind: Was I actually frugal as I thought, or just cheap? Regardless, I drove off happy.  In the grand scheme, a free coffee from a multinational chain may not seem like a...

Having a relationship with a successful retailer can help increase revenue and grow customer loyalty by allowing retailers to share data, learn from each other, and increase awareness. How Can Partnerships Increase Revenue? + Those partners who are compatible with your DNA will be your best options. + Build relationships with partners. + Encourage your partner’s success with resources. + If new channels are available, be sure to take advantage of them. How Much Do Partnerships Increase Revenue? A company’s overall revenue is made up of 23% of partners. Partnerships typically grow their revenue at a 17 percent clip. In 2019, partnership development is the main initiative of 77% of companies and it will only grow in importance. What Are The Benefits Of Brand Partnerships? + Both brands gain greater reach when their respective audiences become larger. + Social buzz. And the fact that two companies are partnering means people are talking about each other. + A cha...

The retail sector is one of the most diverse industries in the U.S., encompassing everything from agriculture to automobiles to fashion accessories. Some retail sub-sectors, such as high-end clothing and personal-care retailers, can have famously high gross profit margins, but net margins for the industry tend to be low compared to other sectors.  This is especially true for web-only retailers, which often see low net margins. For example, Amazon (AMZN) had a net margin of less than 2% for several years prior to 2018, but today commands a market capitalization of $1.7 trillion and a net margin of around 7%. But what really is a good profit margin for retailers? Below covers the points to take into consideration when valuing a company's margins. Key Takeaways + Retailers tend to have profit margins that are lower than in other sectors.  + Grocery and food retailers generally have the lowest profit margins, while building supply retailers have the best margins....