Local Branding

How to Turn Your Hobby Into a Legit Business: 9 Steps to Follow

Many of the best and most lucrative businesses often come to life out of hobbies. If you have a hobby that you’re passionate about and frankly good at, you can consider turning it into something that will bring you a nice paycheck. However, you will need to complete a series of steps to reap a profit from your hobby. If you need some help with the process, here’s how you can get started: 

Check the market

First things first, you need to see whether there’s a market for your goods or services. Sure, your family might be in awe of your cooking, baking or jewelry-making skills, but would they be willing to pay money for it and how much? There were many cases where people loved their hobby, turned it into a business after family and friends said they should go pro, but it turned out, their products weren’t up to professional standards. Therefore, it’s important to do market research and discover whether people are willing to pay for your products or services. Everything you produce should be up to professional standards. 

Give it a try

It’s more than possible to earn money from your hobby without starting a proper business, which means you can try it out before investing more money and time into it. For instance, you can start a part-time business or run your small business around your day job. This will allow you to notice any issues and actually see if you’re willing and able to commit full-time.

Make a business plan

If you love your trial run and want to move forward, you must create a solid business plan that will include your current business situation and plans for the future. Many people choose to skip this step, thinking that they already know their hobby well enough, but if you want to take things to the next level, you always need good planning and assessment. 

Choose a smart domain

Today, it’s practically impossible to run a business without having a website where people can check out your products and learn about your services. It’s also important to choose a name for your domain that will make sense for your business, as well as attract attention and stay in people’s memory. A great way to stand out from the competition is to choose a .me domain and completely personalize your website name. With this domain, you have a world of possibilities to create something that will be easy to remember and awaken intrigue, which is exactly what your business needs. 

Work on branding

If you want recognition, you need good branding. You need a good business name and company logo that will tell the story of your business philosophy. Your logo also needs to look good on your materials like the website, business cards, and ads. It’s also important to strike the colors that resonate well with your target audience. It’s best to hire experts to come up with the logo, but you can also use programs online that can create one for you—you just have to pick a name and colors. 

Create an elevator pitch

If you want to grow your business and reach many people, you need to come up with a pitch that can share your business plan in only a few seconds. Here’s what a college tutor might say: “I’m a college tutor who helps students get into college. Usually, students need to conquer the ACTs, and I can help them do it. Thanks to my help, students can raise their scores by 14 points. Do you know someone who might require my services?” Come up with a pitch for your own business. 

Take care of the legalities

You need to determine your business structure (like a sole proprietorship or LLC) to formally create your business. In case you can prove that you have a business and not a hobby, the IRS will give you business tax deductions. 

Handle your finances

If you want to start any business, you need to report your income and start paying taxes. Create a separate business bank account and hire an accountant (or invest in accounting software) to keep track of your finances. If you notice you’re struggling at the beginning, you might need to reduce your spending to provide enough cash flow into your business. 

Invest in marketing

If you want to only sell to your immediate area, you might go without marketing, but if you want to make a living out of your business, you need to invest in marketing and reach a wider audience. Marketing should be a part of your daily business activities, so create a solid plan, identify your optimal customers, locate them and attract them to your business. 

If you want to make money doing something you love, turn your hobby into your business. Treat it like something serious, and money and customers will come, especially if you employ these aforementioned tips. 



Social Media Impacts Your Company's Brand
SaaS Branding

WordPress Vs Shopify: Which Should You Choose?

You’ve been looking for a way to sell your products online, but you don’t know where to start.

You’ve heard of WordPress, but you don’t know if it’s for you or what the benefits are. Shopify is another option you’ve considered, but it seems a little more difficult to use and quite costly than WordPress. What should you do?

In this post, we’ll compare both of these options for you, starting with the benefits of each and then continuing to break down how both work, their pros and cons, and whether or not they are the right choice for you.

WordPress

If you ask any WordPress development agency, they will advise you to go with WordPress. For good reason, of course. WordPress is a content management system (CMS) that can be used as a blog, website, e-commerce store, and more. It’s completely free to install, and you can create a user account from WordPress.org in minutes.

WordPress offers many customization options that make it easier for you to add or remove features depending on your business needs or preferences. You can also add plugins that extend the functionality of your website beyond its standard features. There are over 48,000 plugins available for free on their website that you can download to your WordPress site with just a few clicks.

WordPress is also fully compatible with eCommerce websites, so if you want to sell products online, you have the necessary tools at your disposal. These are called WooCommerce extensions, and there are thousands of them available for free. As long as you have a domain and hosting, which we’ll talk about later in this post, you can add an eCommerce website within minutes.

Pros:

WordPress is completely free to use, and they make it very easy for you to add features to your site. In addition, there are 48,000 plugins available for free on their website, from which you can choose. 

Cons:

WordPress doesn’t have a lot of built-in features, and many templates and plugins are outdated, making them impractical to use. In addition, hosting isn’t free, which will cost you money.

Shopify

Shopify is an online store platform that works very similar to WordPress, but it has more features straight out of the box. For example, you don’t need to use any plugins or customize your website for it to work. It’s also pretty much plug and plays; install the software, connect your domain name, and you’re all set to go.

The costs of Shopify are $29/mo for standard plans and $79/mo for the Advanced plan. You can register a domain through them or elsewhere, depending on which hosting option you choose. There is no contract, so you can cancel whenever you want, and they allow you to create 30 products for free without having to pay.

Pros:

Shopify is straightforward to set up and start using, has plenty of great themes & templates, and offers 24/7 support. It’s also much easier than WordPress if you’re not tech-savvy.

Cons:

You have to pay to use Shopify, and the $29/mo plan is pretty expensive for someone who has little to no experience with creating websites.

Who Is This For?

WordPress is the better option two for beginners and experts alike. You can use it very successfully as an eCommerce website without paying $29/mo.

Deciding between these two options depends on how much money you can spare, whether you’re willing to learn WordPress and how comfortable you are with coding. For example, if you had $29/mo to spend, Shopify could be used instead of WordPress because it’s much easier to set up and has excellent support available 24/7.

WordPress is free to use, and their support forums are incredible if you need any help (and you will). Although they don’t offer phone calls or live chat, you can post your questions on the forum and receive detailed answers within hours. They also have very comprehensive documentation available for all of their features, making it easier for you to learn how they work.

If you have no coding or website-building experience, Shopify is the easiest option available to build your eCommerce store. All of their products are plug-and-play, so you don’t need to customize it at all if you don’t want to. The only feature that Shopify doesn’t have is the ability to create your own plugins. However, if you know how to code or are willing to learn, WordPress is much more powerful and allows you to add features that Shopify doesn’t offer.

What Are The Costs?

So now let’s look at what it costs. As we mentioned earlier, starting an online business with eCommerce requires both a domain name and hosting.

Domain Name: A good one will set you back around $10/year. Shopify includes a free .com address with their Standard plan ($29/mo), but if you want to own your domain, it doesn’t cost anything to register one yourself or through GoDaddy, for example.

Hosting: Hostinger is a great tool. According to their website, the cheapest hosting option is $3.92/mo, and it allows up to 10,000 monthly visitors, which is incredible value for the volume of traffic.

WordPress Hosting: If you’re using WordPress, Bluehost offers a great-value hosting plan at $4.95/mo, giving you up to 50,000 monthly visitors and a free domain name (if you register through them).

Shopify Hosting: All Shopify plans come with unlimited bandwidth and storage and allow for unlimited products (which can mean huge numbers). You can choose your plan based on what you think will be best for your business.

The Final Verdict

WordPress is free, flexible, and relatively easy to use once you learn the basics. The themes are beautiful, and there’s a huge community online that’s willing to help if you get stuck or confused at any point. WordPress also gives you the option to customize your site as much as you want and even create custom plugins.

Shopify is easier for beginners and offers a more user-friendly experience, but it can get pricey if you pick their most expensive plan. However, if you’re not an expert at building websites or don’t know how to code, Shopify is by far the simplest option and will save you a lot of time and effort.

WordPress is more powerful, but it takes longer to set up and intimidate people new to coding or online eCommerce. However, if you’re willing to invest the time learning WordPress, we recommend that you choose this over Shopify because of its flexibility and power.

Ultimately, both options will allow you to create a beautiful and successful online business, so choose whichever makes the most sense for your budget and skill level.

Content
Legal Branding

11 Scientific Benefits of Plastic Packaging

Using plastic is ultimately the best for your business. It offers many benefits backed by studies and research. It simply boils down to proper use and aggressive placements of recycling policies. Read on to learn the many benefits of using plastic packaging. This post will help you make the right decision of using plastic packaging in a sustainable and environment-friendly way.

 

1. Plastic packaging is safe.

Plastic is still primarily used today because it is the safest packaging option available for businesses. Its unique chemical make-up allows for seamless packing of goods without the need to worry about dangerous shards and toxins. You can be sure that all your packed items remain fresh and pristine if you opt for plastic packaging. You can expect that your goods and items will arrive safely to your customers.

 

2. Plastic packaging is durable.

Plastic packing does not easily break. It has long polymer chains that are hard to break and damage. Packed items that need to be protected and kept safe remain in pristine condition when protected by durable plastic. Shipping companies still choose plastic as their main form of packaging as it allows for smooth transport with no problem whatsoever when it comes to durability and reliability.

 

3. Plastic packaging is hygienic.

Every food, pharmaceutical, and medical companies still use plastic for their packaging because it is 100% hygienic. Plastic can secure that all items remain 100% safe and free from human intervention. Plastic packaging fully complies with European Union requirements on safety. Life-saving devices that need to remain clean and safe at all times before human contact is always placed in plastic packaging.

Plastic jars with lids available throughout Australia are used by many businesses because they are ultra-hygienic and environment-friendly.

 

4. Plastic packaging is secure.

Plastic packaging is highly secure. With its unique design and transparency, customers can easily see if goods are still safe and in superior condition. Plastic packaging can have child-resistant closures and a tamper-evident design. If your goods are packed in plastic, you can be sure that it remains fresh and air-tight. You can also be secure that no other substances and additives can mix with your goods if you pack them with plastic. Plastic is water-resistant so your items can easily remain dry at all times.

 

5. Plastic packaging is customizable.

Plastic packaging is easily customizable. You’d have an easier time marketing your goods and services if you use plastic packaging. There are no limits when it comes to the design and color that you can place on plastic. You can go minimal or ultra grand on your design.

 

6. Plastic packaging is lightweight.

You will save on shipping costs if you use plastic packaging. You’d be able to ship more if you use plastic packaging because no additional weight will significantly be added. This is not the case with other packaging options that can be so heavy that shipping becomes extra costly. Your consumers will also have an easier time handling your goods if they are packed in plastic. Your goods will be very easy to lift and transfer from one place to another.

 

7. Plastic packaging is energy-efficient.

This is the case because less fuel is needed to transport lighter objects. Plastic is light-weight so you’d use less fuel in transporting it. You can always be proud that your business practice is always environment-friendly. A yogurt placed in glass weighs 85 grams. Such is too much if compared to yogurt placed in plastic that only weighs 5.5 grams. With plastic packaging, you’d get to ship more goods and save more on shipping costs.

 

8. Plastic packaging combats food waste.

Did you know that almost 50% food waste comes from households? This is something that can be easily prevented by using plastic packaging. Plastic makes it easy for everyone to combat food waste because everything is kept fresh for longer periods. You can be sure that less food is wasted because plastic packaging ensures that all stored goods are safe from contaminants. Plastic ensures that stored food remains safe for consumption for extended periods.

 

9. Plastic packaging allows for wise use of resources.

You can proudly claim that your business is environmentally-friendly if you use plastic packaging. Today’s plastic packaging is all engineered to be recyclable and reusable. If humans didn’t start using plastic before, there’s no imagining what resources we’d have used to pack goods and items in a safe and hygienic manner.  Plastic is ultimately the most resource-friendly material in the market.

 

10. Plastic packaging has very low environmental impacts.

Plastic is not the problem. Oil and gas usage are. Plastics only account for 1.5% of oil and gas use. It is nothing compared to the massive amount of negative environmental impacts that the oil and gas industry contributes. With the plastic industry leading the way in pioneering for innovations and advanced recycling protocols, it can be safely said that it is here to stay.

 

11. Plastic packaging is highly recyclable.

Plastic is the easiest packaging material to recycle. Consumers can be taught to reuse and recycle any kind of plastic packaging. The world is now entering a new frontier where everything needs to be recyclable and environment-friendly. This is the case because the earth’s existence depends on it. Using plastic is the way to go if your business will adopt sustainable packaging solutions that zone in on reusing and recycling all kinds of packaging. Your consumers will love you for it.

 

 

Branding
Digital Branding

Social Media Marketing Tips For Startup or Small Business

Starting a business is difficult, and it can be even harder if you’re on your own. There are so many things to keep track of, which is where some good social media marketing tips come in handy. You might be wondering what social media has to do with your business’s success rate. The answer is everything! If you have an effective social media plan in place, you can increase your brand awareness and make a lot more sales. Here are some great social media marketing tips for startup businesses or small businesses.

Make your business goals

The first step to social media success is knowing what your goals are. Are you trying to make more sales? Get more people to like and follow your page? Or do you want to increase your brand awareness? Whatever it is, be sure that those goals are clear before you begin. If you don’t set goals for yourself, you won’t know whether or not your social media campaign is working. It’s better to first figure out what you need from your social media campaigns and then start working on it.  

Plan out your week 

Once you’ve made your goals, go ahead and plan out what you’re going to do to reach them. If one of your top goals is getting more page likes, then spend half of a day each week trying to get that done. You could post an ad about the benefits of following your page on multiple platforms or advertise a contest where people have to like your page before entering. There are many ways for achieving this goal, so try brainstorming some ideas before getting started. Prepare a dedicated calendar for your social media and focus on creating quality content throughout the schedule. It will help you stand out from the others.  

  

Create engaging content 

Facebook marketing

One of the most important aspects of social media marketing services are creating engaging content that people want to share with their friends. If you’re looking for some inspiration, try taking a look at what your competitors are posting and see what they’re doing right. Also, keep track of what kind of content people responded to in the past and you might find that they enjoy videos more than images or that they enjoy humorous writing over serious topics. Doing this little research will help you gain more traction for your social media handles.  

Create ads for social media 

If creating engaging content is difficult for you, then one option would be to create ads instead. Ads require less thought but can still get your point across and help boost your page likes or social media following. You could also hire someone on Fiverr to create the ad for you! However, if you want to save some money, there’s always Google Adsense which allows you to host 

Logo

Analyze who your customers really are 

The next step in your business’s social media marketing plan should be figuring out who your ideal customer is. What age group do they fall into? Where do they live? How much money can they realistically spend on whatever it is you sell? This will help determine how often and where you post content so that the right kind of people see it.

Master the basics of social media 

Inforgrapjhic

Finally, don’t forget to master some of the basics of social media. You should be used to Twitter by now, as that’s probably where most people go to buy and sell things these days. Facebook is another great platform for selling your products, but make sure you know how sponsored posts work before going crazy with ads. Once you’ve mastered those sites it might also be a good idea to try Quora or Reddit as well since there are a large number of potential customers on those websites too. 

Do competitor research 

Once you’ve got some good content that you know is engaging, take a look at what your competitors are doing. You can do this by simply searching for their company on any of the social media platforms. If they’re not already following you back, consider sending them a message asking if it’s okay to check out their page and see what they’re up to. This is a great way to gain inspiration about future posts or learn about new ways to target potential customers. It will help you understand the latest market trends to gain more attention from the audience.  

Wrapping up 

By keeping these tips in mind and using them for inspiration, you can increase your sales through social media marketing even if you’re just starting out. It doesn’t have to be difficult! Use this information wisely and you’ll see an increase in the amount of traction to your business. Starting early with social media is an advantage for small businesses and you can gain a competitive advantage out of it.  

Social Media Impacts Your Company's Brand
Digital Branding

7 Secrets to Run a Successful Video Marketing Campaign

2021 is here to end, and it’s clear that video marketing is going to stay for many more years to come. Videos are not only easy to create but also capture audience attention more effectively than plain text. Moreover, it is also seen that videos are shared more than any other content type. This is the reason why every marketer is putting explainer animated video into the picture. 

So, if you haven’t created any video yet for your business, then it’s time to get going. Also, if you are already using it but didn’t get the expected result, you need to kick it up. Are you also thinking the same? If so, then in this blog, you will see some cutting-edge techniques that will help you to give a boost to your video marketing campaign. 

Tips for creating a successful video marketing campaign

Let’s begin… 

1. Keep it short and crisp 

Today only those videos are successful if they are both short and sweet. If your video is as long as a long 30 minutes episode, then there are 90% chances that you won’t be able to get the expected result. Nowadays, no one has much time to spend on useless tasks. That’s why, if you don’t offer them content as per their expectations, then you won’t be able to engage viewers right away. 

Generally, successful video content is about to be completed within 1-2 minutes. So, if you are planning to create a video, make sure you consider its length. Also, if you already have long videos on your bucket list, then try to make them shorter and optimized so that they can be promoted on different social platforms. 

Add high traffic and relevant keywords in the title

Say if you are from a marketing background or creating videos, then you might be familiar with the term SEO. Focusing on SEO while creating a video is another approach to getting excellent results. To get your videos ranked higher on the first page of search engines, you need to ensure that the keywords for which you want are added in the title. 

Just as a blog post, your video title is also essential for ranking on Google. So, whenever you create a title for your video, make sure you keep it under 66 characters, which includes your target keyword. Also, you need to check that the title is engaging and drive qualified leads. 

Try to use category tags

Another tip that will help you to make your video campaign successful is the appropriate category tag. Many people think that category tags do not affect the searches, but they do. Whenever you choose your video tags, they should be the same as the keywords you target for your video. 

Basically, there are two tags that you need to focus on, that is first tag and secondary tags. Try to keep your first tag as precise as possible. Also, the secondary tags are gradually broader than the other. 

Using accurate keywords and phrases is a great way to increase the chances of searches. So, make sure the tags that you use for videos are directly related to the title and context.

Follow a proper posting schedule

Many organizations did not see good results because they were unable to connect with the audience regularly. Are you also making this mistake? If yes, then you need to ensure that each video that you create is posted in the right way. 

By sharing regular content, people will get more attracted and linked with your brand. Thus, to ensure that each post has its own presence, you need to create a posting schedule as it will inspire the audience to come back and see more video content. This approach will be highly valuable if you are planning to launch your product or something exciting. 

So, what are you waiting for? Start establishing your business by sharing constant, engaging, and informative video content. 

Add customer-generated content 

Have you ever noticed what that extra thing that is making the videos successful is? From my experience, I realized that customer-generated content is one factor that is common in all high-performing videos. By adding customers to the videos, you can easily engage them towards your site and inspire them to make purchases. 

This tactic is highly effective because people love seeing themself in the content, and the probability of sharing the video also increases. The higher the number of shares, the more people will view the content, which will ultimately lead you towards your goal. 

Include an appealing call to action

For making your video campaign successful, you need to ensure that each video you create includes a responsive, simple, and engaging call to action. Adding this step to your checklist will inspire people to visit your site or download some resources or even view your social feed. 

Say, if you don’t want to add a particular content or an image, you can also instruct the viewers to take the desired action just by speaking. 

Customers enjoy videos if they find something informative. Thus, start adding excellent calls to action and see a good spark in the conversion rate. 

Evaluate video performance

Last but not least tip is evaluating the success of videos. Many of us keep on creating content but forget to analyze whether the audience actually likes the generated content or not. This is the reason why many brands are unable to see their video marketing unsuccessful. So, if you don’t want to be one of them, I would recommend you analyze the performance of videos.

To understand the performance, you can use Google Analytics to understand how your videos are performing. Say if any video content is not effective, then you can make the changes accordingly. Always remember, the more the analysis, the better the performance. 

Conclusion

Videos are an effective marketing strategy and have the power to thrill conversions. Indeed every video is not powerful, but hopefully, the above tips will allow you to make it highly productive. 

So, are you ready to make your marketing life much easier with awesome animated videos? Go ahead.

About the Author: Anna Wattson is a blogger and a digital marketing expert working with different brands and companies such as the Christian Internet Marketing Company, a Scented Candles brand, Church Marketing Agency, and many other companies. She’s devoted to helping small businesses bridge success gaps by providing in-depth, actionable advice on digital marketing, SEO, and small business growth. Follow her on Twitter at @annawattson24.

Digital Branding

8 Expert Tips to Produce an Account Based Marketing Content Strategy

If you run marketing campaigns for a B2B company, chances are you have heard of Account Based Marketing.

Also called ABM, it is a marketing strategy meant to reach potential prospects within a target company. Instead of reaching out to an individual, ABM allows you to connect to a group of stakeholders.

This also explains why ABM requires close coordination between marketing and sales to succeed. Add to that content marketing, and you can produce excellent results.

But to make that happen, you need to produce precise content. This can be based on industry, roles and functions of your target decision-makers, or the size of an organization.

That said, here are eight tips that you can use to develop an Account Based Marketing content strategy:

Know Your Target’s “Who” and “What”

Sure, Account Based Marketing means that you are reaching out to a target account. However, every account is made up of a group of decision-maskers.

Before you build a content marketing campaign for a prospect, you need to know who you should target. You also need to identify their roles in an organization.

That’s because a piece of information that matters for a Chief Finance Officer may not matter for a Chief Executive Officer.

However, you should not rely on LinkedIn alone when scouring the Internet to target accounts. You should also look into a company’s annual reports, earning calls, social media accounts, and blog. Doing so can give you an insight into the key issues that a prospect is facing and how your products and services can help solve those.

Use an Account-specific Subdomain

This one is pretty basic but often overlooked.

Whenever you are driving a lead to your website, it would help to use a specific subdomain. Doing so adds a personalized touch. It also makes your prospect feel that you went the extra mile to create an online experience that is unique to them.

As such, it will be inherent for them to engage and interact. That’s called the “power of reciprocity.”

Build a Content-rich Microsite

In relation to the previous point, your account-specific subdomain must have the right pieces of content. This is where having a microsite can come in handy.

Think of your microsite as a content hub. This is where you will organize and present relevant content, third-party data, and resources that will be meaningful to your prospect.

That said, we recommend that you use an ABM platform that can help you build and measure your microsite’s ROI. This includes the number of site visitors, the most accessed content, and how they interact with your data.

Incorporate the Company Name

There is a reason personalization is integral in content marketing. One of which is that it compels your prospect to act.

But do not take our word for it. Let the numbers speak for themselves:

  • 74% of consumers are frustrated when web content is not personalized.
  • 80% of consumers are more likely to purchase from a brand that provides a personalized experience.
  • Consumers view personalized content as essential.
  • 85% of consumers are influenced to buy because of personalized homepage promotions.
  • Personalized calls to action convert two times better than a standard CTA.

A straightforward way to personalize your B2B offer is to incorporate your prospect’s company name. Instead of saying “Learn How to Improve Company Efficiency,” you can say “Improve Efficiency at Oracle.”

Provide the Right Tools to Your Sales Team

As mentioned earlier, Account Based Marketing requires coordination between marketing and sales. As such, you must be providing your sales team with the right tools.

That’s because they will be the ones who will make the connection with your prospects.

Arm your sales team with guided conversations, including value-driven offers like a product demo. That way, they can get the prospects to respond to them and move them further down the sales funnel.

From there, your sales team can gather critical data about your target account. For instance, they can ask whether a prospect uses a competitor’s products and services and what additional features they would like to have.

Pitch a Web-based Presentation

A personalized, content-rich microsite is fantastic, but they are not meant to drive sales. Sure, they allow a prospect to navigate through your content and learn about what you can do for their business. However, it does not demonstrate how your products and services work.

This is where a web-based presentation comes in.

It is like a “virtual salesperson” that pitches your products and services in a linear, storytelling way. Doing so enables you to control your marketing message and pacing. For instance, you can include how your products and services work and how your prospect can make the most out of it.

Offer a Useful Client Experience

Here’s the thing: Prospect-to-salesperson connections do not always happen. That’s because there are target accounts that would like to gather more information before you can urge them to talk to you.

As such, it would be helpful if you could provide your ideal clients with the right tools and content that can support their exploration. This includes interactive white papers, assessments, and quizzes. Doing so can also enable you to accelerate a target account’s consideration phase.

Track and Measure Your Content

Just like with any content marketing campaign, you should always track and measure your efforts.

For instance, you can measure the engagement levels of each persona. That way, you would know which content fosters prospect-to-salesperson connection and generates sales.

On the other hand, you can tweak or eliminate content that does not produce results.

Still, keep in mind that your analytics will only work if you have well-defined goals and KPIs. So ensure that you have them in place before you run an ABM content strategy.

ABM and Content can Work Hand-in-Hand

The content tips listed above are some of the things you can do when building a content marketing strategy for your ABM effort. Regardless, the key here is to produce highly-targeted content.

Build a microsite or a web-based product demonstration that will be relevant to your target account. That way, your prospects will be compelled to interact with you. It will also enable you to guide them further down the sales funnel.

As a result, you can generate excellent ROI.

Legal Branding

6 Ways to Maintain Your Customer Base

Customers are the lifeblood of every business; thus, it is critical to continue generating leads and maintaining existing customers. However, doing so is frequently a source of anxiety for firms, with more than one-third citing new business generation as their top concern.

The economy is constantly changing, and it is critical to preserve your consumer base even when times are tough. As competition increases, retaining your customer base is becoming more challenging and exponentially important.

What is Customer Loyalty?

Customer loyalty is defined as a customer’s dedication to your brand. A devoted consumer will always choose you above the competition, whether it’s due to your exceptional customer service, unrivaled product variety, or another method to distinguish yourself. Business owners must develop ways to maintain their consumer base without competing only on pricing. There are a few key ways to maintain your customer base.

1. Utilize Various Lines of Communication

Frequent contact with your customers keeps you in their minds and allows you to pass on crucial information. It is important to know which platforms and methods of communication are best for them. Whatever communication channels your company uses, it’s critical to ensure that what you’re doing is beneficial for your customers. Their capacity to speak effectively with you will aid in maintaining their trust and loyalty.

Someone should be available to answer as soon as a consumer sends you a message via Facebook, email, Instagram, or your online chatbot. Streamlining communication may mean tapping into the benefits of outsourced call centers such that professional support representatives provide customers with round-the-clock support. Moreover, you should have scripts prepared and a method in place to manage any form of engagement, whether it’s a simple question or a complex problem, to help streamline communication.

2. Strong Customer Service

To cultivate a loyal client base, you must provide a memorable customer experience at each stage. This journey typically starts with your website, which should be user-friendly and mobile-friendly, and progresses to direct client interactions and after-sales support.

Specifically, your client service should be excellent. Clients want prompt, knowledgeable responses, problem resolution, and cautious direction. Your marketing approach also plays a role in providing excellent customer experiences.

Remember to pay special attention to the quality of your product. Offering a high-quality product is the most powerful weapon for a growing company competing against established corporations. It will be difficult to recover if negative reviews begin to circulate. In this case, quality can either save or sink your brand.

3. Social Media Presence

Customers and organizations can now exchange information and engage in conversations thanks to social media. There are excellent ways for businesses to reach out via Facebook, Twitter, Instagram, LinkedIn, and other networks. This communication can range from online customer service to leveraging social media to gain insights into your audience. Your industry, target audience, and preferred mode of communication will determine which ones perform best for you.

Millennials and Generation Z spend more time online than prior generations, making them more susceptible to social media influence. In general, social media can be a valuable tool for staying on top of current trends, obtaining insight into what your consumers truly believe, and ensuring long-term client loyalty.

4. Special Promotions and Offers

Using cutting-edge analytics technology, businesses may offer customers discounts on things they buy regularly, as well as products that complement previous purchases. Offering a special discount, whether for college students, veterans, or senior people, is a terrific way to recognize (and retain) certain parts of your client base.

Discounts can help persuade customers to buy from you during traditionally quiet periods. For example, a movie theater that offers $5 Monday tickets or a restaurant that offers a 10 percent discount to students on weeknights. Knowing that they can obtain a better bargain on a specific day or during holiday seasons can assist you in building a loyal consumer base.

5. Loyalty Programs

What better method to keep a loyal customer base than to express your appreciation? Clients appreciate businesses that go out of their way to thank them by giving something back.

Consider rewarding your customers with extra incentives like discounts, additional services, and exclusive products.

This can be accomplished through the use of a point-based loyalty program. A heads-up about impending releases and changes, along with an “early bird deal,” may also suffice. People appreciate an exclusive offering or a sneak peek since it makes them feel like they’re a part of the gang. Another possibility is to provide special deals or even a sales commission to consumers that drive new business.

6. Brand Collaborations

By partnering with other companies that provide comparable services, you can not only reach a new audience but also potentially offer more to your current clients. This approach is excellent for increasing your exposure and providing more options to your existing clients.

For example, if you run a veterinarian clinic, you may collaborate with a local pet food store. This will bring your company’s name to the attention of the pet food store’s customers and vice versa. Collaborations can also apply to your company’s charitable efforts. By informing your consumers that a portion of their purchase will be donated to a specific charity, you demonstrate your dedication to your community while also increasing the organization’s exposure.

 

The Value of Customers

The value of your customers is a crucial factor in the value of your company. Analyzing customer profitability and maximizing a customer’s lifetime value is critical to every firm. To expand your customer base, you must maintain continual contact with both new and existing customers.

The more value your company can provide, the more likely it will remain loyal. Maintaining a deep understanding of your customers’ challenges and worries, as well as taking steps to build your relationships, can mean the difference between falling behind and thriving.

Legal Branding

3 Ways to Make Your MBA Application Stand Out

 

Whether you are embarking on a fledgling business career or looking to advance your career with continuing education, embarking on an MBA program is a decision that should be given careful consideration. The time and money you need to invest is significant, but so too are the rewards. You can find out more at MBA Discovery.

With the potential for greater career opportunities, increased earning potential, and an extensive network of professional contacts, MBA programs are highly sought after, making the admission process one of the most competitive out there.

To make sure you have the best chance of being accepted into an MBA program of your choice a strong application is key. In this article, we will look at some of the top ways you can ensure your application stands out from the rest.

A Captivating Essay

Writing an essay is a key part of the MBA application process, and allows you to distinguish yourself from the crowd. Use this as an opportunity to write about yourself in an open and creative way that engages the reader. Bring passion to your words and express your personality highlighting areas that showcase your superior leadership, teamwork, or communication abilities.

Convey why you are a good fit for the school you are applying for, and capitalize on any unorthodox routes to business school you may have taken by emphasizing the skills and lessons you learnt. Your essay should have a logical structure that flows well and is clear and relevant.

Demonstrate Leadership

Work experience is a prerequisite for many top MBA programs, especially those that are of a leadership capacity. Leadership is one of the top qualities that schools look for in their candidates. For example, Harvard Business School states they are looking for candidates with “a habit of leadership, analytical aptitude and appetite, and engaged community leadership.” They go on to say that, “your stories should illustrate these traits with a focus on leadership.”

If this does not apply to you in a work context, you can demonstrate your leadership potential in other ways, such as coming up with creative ideas or solutions. This could be a new product that you designed or a business idea that you took the initiative to develop and successfully market.

Leadership can also be highlighted through mentoring, volunteering or community work as it demonstrates your ability to work well with, and to inspire and motivate others.

Do Your Research

Out of the thousands of applications that a school receives, one of the things that impresses most is genuine knowledge of the institution and the program offered. Research what differentiates this school from others focusing on the positive aspects, and also identify what you can bring to the school.

A great way to begin is by making contacts within the school alumni network. Take advantage of contacts within your friend or family group so you can gain valuable insight about the program directly from one of the students. This will also allow you to decide whether the school is right for you.

Follow the three tips mentioned in this article to give your MBA admission edge and you will be that much closer to receiving your coveted acceptance letter!

Legal Branding

A Likert Scale: Definition, Examples, and Analysis

A Likert scale is a psychological measure for assessing attitudes, values, and opinions. It works by having a person fill out a questionnaire in which they must rate how much they agree or disagree with a series of assertions. Rensis Likert established the Likert scale in 1932, and it is named after him. Likert scales are the most popular Type of scale used in survey research.

Examples of Likert Scales

Likert scales are essential because they provide multiple pre-written answer possibilities that apply to a wide range of circumstances, from customer satisfaction to public opinion research, in addition to the granularity they bring to survey research. For example, the ‘disagree to agree’ Likert scale (shown below) can be used to ask respondents to score their level of agreement with statements on brand affinity, political beliefs, and other topics. The following are some of the most used examples of 5 point Likert scale:

Agree to Disagree Likert Scale

  •       Strongly Disagree
  •       Disagree
  •       Neither agree nor disagree
  •       Agree
  •       Strongly Agree

Satisfaction Likert Scale

  •       Very dissatisfied
  •       Somewhat dissatisfied
  •       Neither dissatisfied nor satisfied
  •       Somewhat satisfied
  •       Very satisfied

Likelihood Likert Scale

  •       Very unlikely
  •       Somewhat unlikely
  •       Neither likely nor unlikely
  •       Somewhat likely
  •       Very likely

Good to bad Likert Scale

  •       Very poor
  •       Poor
  •       Average
  •       Good
  •       Excellent

Frequency Likert Scale

  •       Never
  •       Rarely
  •       Sometimes
  •       Often
  •       Always

 DATA AND ANALYSIS FROM A LIKERT SCALE

 Researchers frequently use surveys to assess and evaluate the quality of products and services. A standard classification format for studies is the Likert scale. Respondents rate the quality of a product/service on a scale of high to low or better to worse, using two, four, five, or seven levels.

For further examination, researchers and auditors usually arrange acquired data into a hierarchy of four basic measurement levels – nominal, ordinal, interval, and ratio measurement levels:

  •       Nominal data: is data in which the answers are grouped into variables but do not have to have quantitative data or order.
  •       Ordinal data: is information that can be sorted or classified but cannot be measured in terms of distance.
  •       Interval data is a type of aggregation data in which orders and distances can be measured.
  •       Ratio data: is a type of interval data that is comparable to interval data. The sole distinction is that each data set has an equal and definitive ratio, whereas absolute “zero” is viewed as a point of origin.

The examination of the nominal, interval, and ratio data is often straightforward and transparent. Ordinal data is used to evaluate data, notably in surveys with Likert or other scales. This isn’t a new issue. In survey analysis in numerous applied fields, the usefulness of treating ordinal data as interval data is still controversial. The following are some important considerations:

Statistical tests include: Because parametric statistical tests are more powerful than nonparametric alternatives, researchers sometimes consider ordinal data interval data. Furthermore, parametric test inferences are simple to comprehend and provide more information than nonparametric tests.

Concentration on Likert scales: However, treating ordinal data as interval data without first considering the data set’s values and the study’s aims can lead to misinformation and misrepresentation of survey results. Researchers prefer to treat ordinal data as interval data and concentrate on Likert scales when analyzing scalar data.

For data inspection, use the median or range: When the data is on ordinal scales, a universal guideline implies that the mean and standard deviation, like any parametric analysis based on the normal distribution, are meaningless parameters for detailed statistics. The nonparametric test is performed on data using the appropriate median or range.

Best techniques for assessing Likert scale results

Because Likert data is discrete, ordinal, and limited in scope, there has long been a debate about the best logical way to evaluate it. Parametric and nonparametric tests are the first two options. The following are general descriptions of the benefits and drawbacks of each style of analysis:

Parametric tests presume that division is done in a consistent and orderly manner.

Nonparametric tests do not presume that division occurs in a regular or unbroken pattern. However, there are fears that the ability to notice a difference when one exists would be harmed.

 Which is the most suitable option? When it comes to analyzing data from a survey that employs Likert Scale questions, this is a fundamental decision that a researcher must make.

  •       Many research has attempted to answer this topic over the years. However, they tend to examine a small number of alternative distributions for Likert data, causing the conclusions to be less generalizable. Simulation studies can now properly analyze a wide range of distributions because of advances in computational capacity.
  •       The researchers discovered 14 different distributions that are typical of actual Likert data. To test all conceivable combinations of the 14 distributions, the computer software extracted self-sufficient pairs of samples.
  •       For each of the 98 distribution combinations, 10,000 random samples were created. To compare the efficacy of each test, the samples’ pairings are evaluated using both the two-sample t-test and the Mann-Whitney test. The study also looked at various sample sizes.
  •       The results reveal that the Type I error rates (false positives) for all pairs of distributions are incredibly close to the target numbers, indicating that if an organization employs any of the studies and the results are statistically significant, it does not need to be concerned about false positives.
  •       The results also reveal that the difference in power between the two tests is minimal for most combinations of distributions. If a discrepancy exists at the population level, each analysis has an equal chance of detecting it.
  •       There are several pairs of special distributions where the two tests have different power. If an organization does two tests on the same data and the results aren’t the same (one is significant, the other isn’t), the power difference affects just a tiny percentage of cases.
  •       The decision between the two analyzes is, in general, a loop. When a company has to compare two sets of five-point Likert data, the analysis technique usually doesn’t matter.
  •       Both parametric and nonparametric tests consistently provide the same level of protection against false negatives and false positives. These tendencies hold for groups of 10, 30, and 200 people.

Rather than assuming that an experience was satisfactory or that a respondent will positively react to a statement, researchers should ensure that the report or statements being evaluated are clear, the answer options are distinct from each other (as demonstrated in the above pre-written choices), and the scale encompasses all possible options.

 

About the author:

Lori Gillen is a Blogger/Content Creator who is specialized in the field of Digital Marketing & Data Analysis with 5 years of experience. Currently working at PPCexpo as a Senior Content Creator.

Legal Branding

How Payroll Outsourcing Companies Can Help Businesses Meet Statutory Compliance?

In case you’re not aware, statutory compliance is for companies that help them in operating responsibly. This is done by obeying the rules that are set by the governing body of the respective area where the organisation functions, especially regarding the treatment of their employees. Furthermore, any organisation regardless of its size or stature should comply with respective labour laws laid down by the governing body, which will help to ensure the welfare of its employees. 

It should be known that statutory compliance for businesses is massive rules & regulations that are not easy to follow. Furthermore, these rules & regulations are ever-changing, which is why companies need to keep themselves updated all the time. 

The Significance Of Statutory Compliance

Every state or country has its labour laws that businesses have to follow. All companies must abide by the laid-down rules & regulations. Due to non-compliance, there can be several problems such as fines, penalties, legal ramifications and so on. Such is the reason why companies nowadays are investing their time, effort and money to meet statutory compliance, with the help of professional payroll companies in the UK

From professional tax to minimum wage taxes – everything is kept updated with the help of payroll service providers. 

Does Statutory Compliance Change With The Type Of Organisation?

No. It doesn’t matter if a company is an LLP, a partnership firm or a public limited – statutory compliance holds the same for all. Since all of these organisations are hiring their employees and paying their salaries, they have to comply with the respective labour laws. 

The Consequences Of Not Properly Complying With Statutory Compliance

1. Loss Of Goodwill For The Company

The primary reason why most businesses stay operational is that they are trusted and known by their customers. Due to statutory non-compliance, there can be a loss of integrity & trust from the purview of the customers. As a result, it stains their reputation because customers will then doubt the organisation’s authenticity. 

Even though any financial loss such as a fine or penalty due to the non-compliance can be handled easily, any criminal proceedings against the company for non-compliance will hurt the goodwill of the business. Loss of goodwill will hurt the company not only in the short-term but long-term as well. 

2. Suspension Of Licenses

Businesses need certain licenses to be able to operate with the standards of the industry they’re in. Any statutory non-compliance can easily cause their licenses to get suspended – either permanently or temporarily – affecting the company’s current operations. That’s why it’s prudent to opt for professional payroll outsourcing companies in the UK. 

3. Penalties To Bear

Penalties or fines are the common consequences of not complying with statutory compliance. Since there are numerous acts under statutory compliance, the penalty will also vary based on the type of non-compliance the company has committed. If any organisation fails to pay the respective fines within time, the fines will continue to collect over time and thereby leading to major losses within the company.

4. Loss Of Employees

It’s a psychological aspect of human beings of not associating with things that are morally or ethically wrong, and the same concept applies here as well. Employees will not like to associate themselves with an organisation that doesn’t comply with the statutory rules & regulations. As a result, employees will leave the company, leading to the loss of essential talent within the company. Moreover, the company will also face difficulties in hiring new employees because of the stained reputation. 

However, the good news is that – professional payroll service providers can help companies avoid all these above-mentioned issues and thus focus on the core competencies of the company. Statutory compliance will not be a headache anymore with payroll outsourcing services.