Here’s one of the simplest but most overlooked business ‘hacks’ you’ll ever hear:
Keep hold of your current customers.
That’s it! Do that and you’ll save yourself the hard work and heartache involved with complex sales processes, performance monitoring, quoting, meetings – and much more. Why’s it so simple? These people or companies already love (or at least like) what it is you do for them – you may even be taking money from them each month anyway.
So why do they leave? Why do we release them back into the marketplace? And what can we do to make sure we hold onto them?
We’ve put together 9 things you could be doing to make sure you only ever lose customers in exceptional circumstances…
1. Speak their language
It doesnt matter if you’re a small cafe or a local pool company such as willshapools.com there are countless platforms through which you can communicate with your customers. Does your contact prefer email? Skype? Phone calls? WhatsApp? Or any one of the million other possibilities?
Don’t underestimate the importance that people put on communicating with people in the way they wish – and definitely don’t underestimate how useless people can be at communicating if you force them to use a medium they don’t like.
If it comes down to the finer detail you don’t want to lose a great customer simply because your competitor is happy to Skype when you prefer to email.
Ask what they like, review it now and again – and stick to it.
2. Understand what great service means to them
Just like ‘good communication’, ‘good service’ means something different to everyone. Does ‘good’ mean quick? Accurate? Cheap? Great customer support? Or something else?
Unless you ask your customers, you’re just guessing – and when you guess, you’re liable to lose out to someone who’s taken 30 seconds to hear about what’s important.
When you learn – make sure you make a note on your customer lead management system. This information is absolutely priceless when it comes to retaining customers – so it’s important that your whole team knows it.
3. Don’t forget to keep in touch
You might communicate strictly work-related information frequently – but don’t discount the fact that people, generally, like to deal with real people, so talk like humans now and again too.
Keep it business-like and semi-formal until you know where you stand, but don’t forget, even the most high-flying executive still appreciates being acknowledged as a person. You might want to just review where your business relationship is once every now and again – then again, you might want to ask about their recently holiday and less work-related topics.
When you connect as people, you become more than just numbers on a spreadsheet – which is important, as people value real connections, even if a lower price comes along.
4. Say thank you for repeat business
It’s easy to take customers for granted when you see the money coming in and the product going out each month – but take a break from that now and again to acknowledge what they put into your business.
Perhaps it’s something simple like a discount every now and again – or an occasional gift to let them know you appreciate their custom. Again, these human touches set you apart from the companies that trade entirely on price.
5. Take money on their terms
Just like allowing communication on your customer’s terms, you should really aim to accept payment on their terms too
For everyone who likes to pay immediately with a credit card, there’s another person who prefers 30-day terms (and probably plenty who like 90 day terms!). You don’t have to accept their terms if they don’t work for your cashflow – but if you can afford to, letting them call the shots will sometimes be the difference between keeping their business and letting them find someone who can accommodate their needs.
6. Remember the important stuff
Do you want to go above and beyond what other companies are doing? Learn some of your customer’s important dates and send them cards, flowers or gifts when the time comes around.
It’s not for everyone – but sending a Christmas, birthday or other celebration card will set you firmly above most other companies they deal with. If that sounds a little intrusive, then why not send a card that celebrates the anniversary of the first time you did business together?
These are little touches – but backed up by the psychological fact that people feel somewhat loyal to people and companies that give them something above and beyond what they’re expecting.
7. Refer people to your customers
If you’re a business to business operation, then keeping customer details up your sleeve in case of referral opportunities is a really great move.
Instead of remaining as a service provider, you can establish yourself as part of their network – and if you refer customers who might need their service, then you’re suddenly offering a huge amount of more value by simply having a conversation and passing on a number.
8. Make sure they’ll get less elsewhere
Ask yourself – what can you do to add value to the product you provide?
For many people, this means becoming an authority on the service you offer – don’t just offer marketing consultancy, but offer insights into their market that they just won’t get elsewhere.
Always be thinking ‘added value’ – what can you do that offers more than just the base-product?
9. Offer incentives for referring customers to you
People love to talk to other people about what a good deal they’re getting – it’s a fine display of business acumen if you get boast about what a great deal or service you’re getting from a supplier.
So why not encourage people to have those conversations? There’s no need to ask – just tell them that if they do, there’s some kind of reward for them. It might be a bottle of bubbly as an informal thank you – or it could be something more contracted, like a sliding scale offering discounts when people join with referral codes or contact details.
Whatever you decide on, you get the added bonus of someone being less likely to walk away if they’ve sung your praises to someone else – incentivised or otherwise…
Do I Need A Business Plan?
Business plans are very useful, but do you need one? With many things getting faster and faster including setting up a business some entrepreneurs both old and new find the whole process of a business plan to be a bit of a slog. But does that mean you shouldn’t bother with one?
Opinion is pretty split while many people do agree that business plans are very useful it can’t be denied that they are very time-consuming. The length and complexity of formal business plans as led to the rise of shorter, simpler versions.
So, while planning your business is very important (in fact it’s critical) does the old-fashioned formal business plan still have a place in today’s more rapidly involved business world? I’d argue that it does but that doesn’t mean your business needs one.
There are a lot of variables you really need to consider, if your business is in a more complex field like technology then a formal business plan would seem like a very valuable asset. However, if you are only building a small business in a less complicated field then a business plan might not be needed right?
Well, that’s for you to decide but before you make your decision let’s take a look at the pros and cons in more detail.
The Advantages of A Business Plan
Business plans come in many forms but the one you’ll most commonly see is the traditional formal business plan, these documents are very long and complex. But while they are time-consuming to create they do offer businesses many advantages. Let’s take a look at some of them in more detail.
It’s A Valuable Strategic Tool
A plan is always going to come in useful, there’s a reason why people usually plan something out before they do it isn’t there? And when you consider how complex building a business is a business plan just seems like common sense doesn’t it?
With a formal business plan, you’ll be able to better plan out your businesses strategy and you’ll always have something to refer back to. Many start-ups struggle when it comes to building an effective business strategy and formal plan can be a big help.
You’ll Learn More About Your Market
Marketing is the key to success especially for start-ups and a formal business plan will help give you an insight into your main demographics before you have even started setting up your business. Of course, you’ll still have to ensure you work on your marketing, but a formal business plan will be sure to help give you a head start.
It’s Great For More Complex Industries
One of the main perks of a business plan is that it gives you a guide to your day to day operations this includes a detailed outline of who is responsible for what, the director’s details, your business structure and much more.
While this is undoubtedly useful for any business it can’t be denied that businesses in more complex industries like technology will find it more useful. Having a way to more quickly check your business strategy and see who is responsible for what will be very helpful in more complicated and competitive industries.
It Helps With Legal Issues
A start-up business will be tasked with a lot of legal issues when setting themselves up and a formal business plan will help you ensure all the legal issues are dealt with. And according to Jones Whyte who are not only trusted conveyancing solicitors but also work with many local startups, forgetting even a small step could cause big problems down the line and with a formal business plan you can keep track of everything you need to do to set-up your business.
The Disadvantages of A Business Plan
So, now we’ve taken a look at the advantages let’s look at the flip side of the coin and see why some people think writing a business plan is a waste of time.
They Are Time Consuming
One of the drawbacks of a formal business plan is that they are very time consuming to create sometimes they can even take months to draw up. You could create your business plan alongside setting up your business of course, but it will add more to your workload. However, some entrepreneurs have set-up a business later one once their business as already been established to help guide them.
It Can Stifle Growth
In a rather ironic twist of fate, some entrepreneurs have found business plans to be very stifling, rather than help nurture growth you and your partners might feel like you have no flexibility because of your business plan.
There’s also the risk that having a business plan could make you a little too rigid, after all, isn’t it important that entrepreneurs know how to act fast? It is, and this is especially true in the early days of your business’s operation.
Getting too caught up in your business plan is a real issue and one every entrepreneur should be aware of. In certain industries like technology, for example, acting fast and knowing when to take a risk can pay off so you don’t want to risk a business plan making you to inflexible.
They Might Not Really Be Needed Yet
The above statement really goes against everything you might have heard about a business plan, but it’s true that you might not really need a business plan just yet. The yet is the key part of that sentence because you will likely need some form of plan eventually.
But if you have a good idea of what you want your business to do then why write a plan? You could simply create a small document or PowerPoint instead to act as a guide and then build a more detailed plane once your business is established.
So, Do I Need A Business Plan?
It can’t be denied that there are a number of benefits to having a business plan it can help guide your business and will be useful for dealing with those notoriously tricky legal issues. However, a traditional formal business plan can usually wait unless you have the time to properly commit to writing it. I would advise having some form of a business plan, but you can usually wait till your business is more established and developed till you tackle the big formal one.
When your workers typically aren’t productive, it’s no news that you shed cash. Many companies think that employee productivity is the single duty of the employee. While there are many areas that an employee can improve on to enhance their productivity in the workplace such as obtaining more rest, consuming morning meal, and the likes, there are likewise roles you have to play as an employer to increase your workers’ productivity.
Hence, regardless of your business, you should never push under the rug matters relating to the health and productivity of your staff members. Producing a favourable job environment can aid workers to improve efficiency and drive your organisation to prosper.
What variables influence employee efficiency?
Several variables can impact an employee’s efficiency and productivity in the workplace. A few of those aspects consist of workplace hygiene, temperature level, lights, and sound. So what especially makes your staff members more or much less productive?
Following research by the American Society of Interior Designers, physical workplace design is among the leading three aspects that influence an employee’s efficiency and love of the job. Furthermore, research by the Journal of Public Affairs, Administration and Management uncovered the following about workplace productivity:
- Lights are the crucial element that impacts the productivity of workers.
- Temperature level has a higher impact on female staff members than on male staff members.
- Male workers are immensely influenced by workplace furnishings.
- All forms of lighting are essential to make the most of employee productivity.
- Spatial organisation of workplace furnishings is essential to productivity.
Below are some of the best ways to raise employee productivity and efficiency in the workplace.
If your team suspect your lack of interest in the workplace hygiene, they may lose interest and turn their attention elsewhere. You could see your personnel turnover rise which is something no company desires to see if this goes on for long enough.
Take the initiative to motivate a healthy workplace hygienic set of values; incentivising cleanliness and making sure people recognise the significance of maintaining the workplace in high order. You could also check into using a cleaning agency, a dedicated office cleaner and a pest control services based in Carlisle to take on those larger tasks and make sure dust does not accumulate in overlooked spaces.
Staff members find that being close to windows encourage them to feel more concentrated and comfortable. Maintaining bright lights in the workplace helps to produce a more joyful state of mind and assists with productivity. Furthermore, if your workplace is either too cold or warm, your staff members will find themselves sidetracked.
You want your firm to assist staff members to develop their uniqueness and feel valued. Producing a favourable job environment that urges workers to build networks and give their all makes it possible to generate a feeling of belonging.
Workers who feel valued and pleased in their professions are more productive than those who never fairly strike their stride. As a research study by the Department of Economics at the University of Warwick discovered, miserable workers are 10 percent much less productive than other staff members.
Noise is typically one of the most significant interruptions in the workplace, and it can also be among the most significant reasons your workers usually aren’t productive. Some people function much better when there’s noise, while other staff members perform much better when it’s hushed. Strive to develop a room in your workplace where workers can go when they require a peaceful area to function.
Sorts of furnishings
Make sure your workplace furnishings are comfy, mainly if you have staff members that rest for lengthy periods. Doing this can aid to make your workers feel more loosened up and much less stressed out, therefore supporting them to be more productive.
By developing a welcoming environment, your staff members will feel more involved, which inevitably results in higher levels of productivity. A few of the modifications are quicker to adopt than others, but making an initiative not only makes your staff members better, but it can also aid to raise your profits.
The following are more things you can do to develop a sustainable workplace culture.
Produce opportunities for employees to advance.
Only a handful of career-minded specialists intend to remain in the same setting for life, especially if they possess extra abilities. If inspired staff members get the feeling that they’re in a dead-end task, they’re bound to feel stuck and get irritated, causing heartache and reduced productivity.
In comparison, developing possibilities for staff members to breakthrough tends to urge positivity, leading to much less turnover and far better productivity. While an internal advancement/promotion is the ideal instance of employee development, a promo isn’t the only way to spread out positivity.
Consistently dish out feedback.
If you use workers responses only throughout their yearly evaluations, you’re missing out on many possibilities to enhance efficiency, motivate development, and construct a favourable workplace. Rather than holding back comments, urge supervisors to give comments frequently, mainly when it’s appropriate to an existing problem. While unfavourable responses are unavoidable periodically, aim to concentrate on overall outcomes, and strive always to do better.
Along the same lines, bear in mind that workers enjoy obtaining acknowledgement for their successes, but they do not consistently require intricate benefits. Rather than handing out rewards for work well done, put in the time to provide thoughtful, favourable responses and acknowledge your workers openly.
Maintain an open door policy.
If you have ever worked in a business where the employer was mainly unnoticeable and continued to be behind shut doors for much of the day, then you know this can be a big turn off for staff members. As an increasing number of millennial get in the workplace, they progressively demand openness. While they do not often anticipate in-person meetings with the CEO, they nonetheless want open lines of interaction with stakeholders.
You can motivate openness and interaction by developing an open-door policy for people throughout your company power structure. Applying this method can also aid in developing a dependable and favourable workplace you’re pursuing.
Establish healthy workspaces.
In your quest for a productive workplace, you must be ready to do more than encourage positive emotions. You must be willing to make your workers feel excellent and contribute their best to the company. You should likewise see to it they feel healthy and balanced.
In the workplace, you can satisfy this objective by establishing healthy and balanced offices. This initiative can consist of every little thing from permitting workers to pick furnishings and tools they prefer to keeping a comfy temperature level and utilising appropriate illumination.
If you’ve got a startup venture off the ground you probably thought you were past the tough bit of owning a business – but then there’s the need to grow your business!
Growth isn’t easy – if it were, we’d all be at the helm of billion pound organisations.
That said, with some solid foundations in place you’re likely to find growing your operations far easier. We’ll look at what those foundations are and how they can be used as part of a sustainable growth strategy…
Work with solid principles
When it comes to running a business you’re either going to forge your own path or get swept in various different directions with the changing needs of your business, your finances, customer requirements and so forth.
While some business agility is a good thing, if you want to create sustainable growth you’re going to need a roadmap – and not just one that charts your projections and goals.
Instead, think about doubling-down on the principles that underpin exactly what it is that you do. Maybe offering exceptional content is the thing that make your business who you are? If so, create more, delve into what people are looking for and answer their needs. Maybe the materials you use are ethically sourced? Shout about it, get accreditations that rubber stamp what you’re doing or write a book about how other people can follow in your footsteps.
Passionate principles are contagious – pursue them and watch customers become passionate about what you’re doing too.
Create a solid and powerful brand
There are many local and small companies doing branding really well, for example, Atlas Ceramics – but they’re only doing the same fundamentals that you can also do with your brand.
Let’s take Apple as an example:
When you see that symbol you know what to expect from the product or material it’s attached to; simplicity, exceptional usability, style, innovation – to name just a few. It’s well documented that Apple have done this by sticking to their solid principles and using them as checkmarks against which EVERYTHING they do is measured.
Have you ever seen an Apple product that doesn’t tick all of the above boxes? Unlikely – and you can do the same with your brand. Consider the most important principles at the core of your business and make sure they’re communicated in everything you do – not least your actions.
Find people you can rely on
When you’re recruiting or looking for partnership companies, you might put experience and knowledge at the top of your list – and to some degree that’s understandable. However, when it comes to having the right people to help you grow your business, there could be a better way.
Next time you’re talking to a job candidate or subcontracting company, talk to them about the service you want to deliver – and about the values you’ve built your business on. When you find people that respond to your questions with the passion that you have for those subjects – those people are likely to fit in well to the environment you’ll need to grow in the right direction.
That’s not to say that should ignore experience completely – but understand that it’s a lot easier to teach skills than it is to reshape a person’s attitude.
Hold on tight to your current customers
When you talk about growth in business most people envisage some kind of graph with an upward arrow and ‘sales’ somewhere on the page. Selling more of your product is one idea – but there’s another that’s easier to deliver:
Retain your current customers.
When it comes to easy business wins, it makes absolute sense to make your current customers feel valued and loved – thus repeating the repeat business rewards of doing so – than it is to go out and find more people who’ll order with you.
Instead of focusing your salespeople on getting more business from new sources, consider an incentive that encourages them to cement and maximise the relationships you have with your current customers.
Build around your current products
If you’ve got a solid brand and a great team who are keeping your customers onboard, it might be time to think about diversifying your product somewhat.
Now, which direction you move in is totally up to you – but we can almost guarantee that there’s scope for taking your brand somewhere new and doing another service or product just as well as you are your current business focus.
Let’s carry on with the Apple example:
Were Apple to create an office chair – would it sell?
You’re absolutely right it would, by the truckload – because the principles of design and function that Apple has become synonymous with would give office workers the world over the impression that their aching back was about to be gone forever.
Understand what people expect from your brand – and which products that it would give you a head-start with were you to expand your offering.
Be ready to truly lead
There are a lot of distinctions between someone who just manages and someone who truly leads – not least the impact that the two approaches have on your company’s ability to grow.
You’re one mind – and while you might have some great ideas, there’s a chance that you employ people who get a very real understanding of what your particular coalface is like every day they show up.
If you want to know what your customers want – do less guessing and more listening to the people who are talking to them each day. There’s an old adage about the customer being king – and frankly, it’s wrong. If you make your team the most important thing in your business, your customers will feel that automatically, owing to the new levels of expertise, support and care they receive at the hands of a valued group of people.
Unfortunately for you, being a decision maker and empowering your team means you’re going to have to start taking a lot less credit when things go well – and potentially supporting them by absorbing the flak when things don’t go to plan – but that’s all part of being a leader and having a team that’ll help your business grow.
The joy of sitting down to watch a TV show you love is something pretty much everyone on the planet as in common. There’s such a variety of shows available that whatever your interests you are sure to find something to keep your interest and entertain you.
Whether you want to turn it into a social occasion where you watch with friends or talk about your favourite shows online or in person or prefer a more solitary watching experience TV is something anyone can enjoy however they want. But there is a downside to TV isn’t there? You have to be in front of a television to actually watch it, don’t you?
Well actually no you don’t! Nowadays watching TV has become much more versatile and flexible you can watch TV anytime and anywhere if you have the right tools at your disposal. This has got a little more complicated though because there’s actually a variety of ways to go about watching TV now and knowing which method is best for you isn’t always easy.
Everyone seems to be offering their own online streaming service or app, now don’t they? But which is best and offers the most content? Research is really the only way to find this out so don’t just rush out and subscribe to the first provider you see. But we can help guide you by taking a look at all the great ways you can watch TV anytime no matter where you are!
TV apps are sometimes confused with video on demand apps like Netflix or Amazon Video and while they are similar there are some differences. TV apps like Virgin TV Go for example don’t simply offer programs and movie boxsets they also offer you the ability to watch live television channels as well.
How many channels you get will depend on the provider and what service you opt for. Many providers offer more than one TV app with more expensive options offering extra-benefits. These apps work as you would expect, you simply download them to a tablet or smartphone and you then effectively have a mobile TV you can watch anywhere.
It seems like everyone these days is using a streaming service of some kind Netflix might be the most popular at the moment but there are plenty of alternatives. Hulu, Amazon Prime Video and many more are all competing and while these streaming services are a great way to watch TV anywhere across a range of different devices they usually only offer boxsets.
This means that you can’t watch TV channels only preselected programs, however with all the choice on offer this usually isn’t seen as a downside to many people. And some streaming services do offer the option to watch TV channels live.
Exclusivity is also a problem as not every streaming service is available around the world, the BBC iPlayer, for example, is a streaming service that allows you to watch past and present BBC shows. However, the BBC iPlayer isn’t available all around the world so if you like BBC programs but don’t live in the UK your chances of being able to use it are slim.
Streaming services work across mobile devices like smartphones and tablets and they are also usually compatible with over devices like games consoles and of course computers. So, although your options will be limited depending on where you live with the right streaming service you can watch a great array of TV no matter where you live.
VPN’s are something we really have to talk about because if you want to watch television anywhere in the world a VPN is going to be your new best friend! So, what is a VPN? A VPN is a virtual private network it is, in essence, a device that changes your computer’s location so if you live in America, for example, you can make it look like your computer is in the UK.
A slightly more complex explanation is that a VPN works by encrypting your device’s internet traffic and then it routes that data through a server of your choosing. Now if you’re wondering what the point of this is I’ll explain, effectively a VPN removes any restrictions on location.
Like we mentioned earlier online streaming services like the BBC iPlayer or the American service Hulu are restricted to certain locations, the UK and the USA respectively. With a VPN you can remove such blocks and then access these services which will give you a much great variety when it comes to watching TV no matter where you are. You can also check out this guide for watching BBC iplayer.
A VPN doesn’t just offer you the chance to access location restricted service either it gives you a way to access country-specific streaming services. For example, it’s widely considered that the American version of Netflix is superior to the UK’s version and with a VPN you can access the American version.
You will still have to pay to use the service (unless it’s a free online service like the BBC iPlayer) but many people will find it a much better bargain and it will certainly give you a better array of options when it comes to watching TV.
Are VPN’s Legal?
Now while VPN’s certainly can work wonders you might be concerned about the legal side of things and that’s certainly understandable. They don’t side like the most legal devices in the world, do they?
However, VPN’s are actually legal in the majority of countries however in the following countries using a VPN is classed as an illegal activity China, Iraq, Turkey, Belarus, Oman and the United Arab Emirates.
However, other countries like Russian do have restrictions on VPN’s though and even if VPN’s are legal you must still not use them for illegal activity like fraud or hacking. Now some could argue that using a VPN to stream from a website you’re not normally able to access could be classed as an illegal activity but that is what the majority of VPN users use them for.
Whether you decide to use one or not it can’t be denied that they do give you plenty more options when it comes to watching TV anywhere in the world.
The prospect of buying or trading cryptocurrency is exciting.
Although the established currencies are approaching 10 years old, it still feels like an extremely exciting area of finance, a place where the grip of the governments and big financial establishments can’t quite reach.
But you can. You can quickly and simply buy and sell.
That said, if you do decide to trade in cryptocurrency, it’s important that you understand a few fundamentals and arm yourself with the best possible knowledge – so you’re fully informed to tackle this exciting new world of money.
We’ve pooled our collective cryptocurrency advice and recommend you read through, whether you’re just starting out – or you’re a seasoned buyer looking to refresh the basics…
Most crypto is still a work in progress
Bitcoin was the first cryptocurrency and the development of the currency lead to the blockchain technology that underpins many of the more recent products entering the field. Even though Bitcoin is the industry benchmark – it’s still very new, around 9 years old – and as such, you need to understand that you’re going to be dealing with a new concept.
Virtually any product that’s only been on the market a short period of time will see developments, patches and adaptations as it encounters the real world – and Bitcoin is no exception. While Bitcoin has so far proved to be a solid currency (at least from a technical point of view) – that’s not to say that any other, less rigorously tested cryptocurrencies will be the same.
If you want to understand the pros and cons of any product prior to investing, you should either spend a lot of time applying your brain to understanding how it works – or seeking the advice of an expert in the field.
Make sure your wallet is safe and secure
It’s a somewhat patronising comparison to make – but we’re about to make it all the same:
You don’t let strangers go into your real-life wallet unattended – so you should make sure all the measures are in place to make sure they don’t do it with your cryptocurrency wallet.
The reason we make this comparison is because many people don’t take the appropriate steps to secure their Bitcoin wallets, instead, hoping for good luck or trusting in companies they have no relationship with. The right place to begin your security checks is by making sure you’ve read some reviews of the site or product you’re looking at using – like this one covering some Coinbase alternatives.
When you’ve got a feel for the company you’re going to use, you need to choose the appropriate wallet for your plans. For example:
If you’re planning on investing £25,000 and sitting on your investment for some time – seeking a high security ‘cold’ storage wallet is going to be the route to take. Alternatively, if you plan to buy a few quid’s worth of Bitcoin, Ethereum or another crypto – you probably don’t need the hassle and complexity that comes with expensive cold storage devices that make your coin hard to spend again.
Use a wallet that’s designed for your cryptocurrency intention.
Cryptocurrency price is volatile
November 2017 saw Bitcoin’s price pass the $10,000 mark for the first time since its release – and while that’s seriously good news if you bought a few years ago – or even at the beginning of 2017 – it signifies one thing to the financial markets:
Bitcoin has crashed prior to now – and some people say it will do so again.
If you’re looking at Bitcoin as an investment – you need to understand that no matter how exciting, it’s still considered to be high risk. If you can’t afford to lose the money you’re looking at putting into your chosen cryptocurrency, don’t invest.
All that said, if you had invested around £80 in Bitcoin in 2011, you’d be sitting on around 350 Bitcoins now – which would be worth around £2.8 million as they cracked that $10,000 level in 2017… High risk can sometimes equal a very high reward.
Understand the limit of your rights
Now, the fact that Bitcoin and other cryprotcurrencies work on a decentralised ledger means two significant things:
- They’re free from the constraints of government or large financial organisations
- You don’t receive any of the protection you’d get from government or large financial organisations.
So, you take the rough with the smooth – depending on your stance on the world economic situation!
In very real terms, it does mean that Bitcoin transactions are final – and any undoing of a payment would rely on the vendor sending you the same amount of Bitcoin back – no refunds – and not much chance of getting money back if the person isn’t as they seem. The message is this – be careful who you deal with when Bitcoin or other crypto is your choice of payment.
Most cryptocurrency isn’t anonymous
Most people understand Bitcoin to be anonymous – and media outlets will often tell you that it’s the currency of choice for international drug dealers and those looking to employ the services of assassins and hitmen.
Sorry to pop the exciting bubble – it’s not any of those things.
Cash remains the currency of choice for the criminal underworld – as Bitcoin can fall under the same level of scrutiny as any other financial system, i.e. a warrant or subpoena will mean the trail can be examined very carefully.
In fact, for every small criminal transaction that might take place with Bitcoin, there’s another huge number that the blockchain infrastructure probably thwarts – given that it cannot be corrupted or controlled.
The top and the bottom of the issue is this – if you’re looking for a currency that ensures anonymity (and there are plenty of legitimate reasons why you might) – do a lot of research and consider using services that remove your personal details from the transaction. But remember, our second point was about wallet security – and under no circumstances should you let that slip, not least if you’re trying to work with anyone who promises anything cloak and dagger…
When looking at marketing options, search engine optimisation can seem confusing, especially if we’re new to the world of SEO. However, the more time you invest, the sooner it all starts to make sense, and this is where businesses soon discover how SEO can help businesses.
There are many benefits associated with SEO, which is why more and more businesses are employing in-house professionals, or outsourcing their work to third-party professionals. Those looking to take advantage of what SEO can expect the following benefits.
Improves the Search Engine Ranking of the Business
While this is an obvious benefit, it’s one that’s worth reinforcing. SEO needs to be carried out in the right way, so any shortcuts or attempts to manipulate the system will often lead to your site becoming penalised. However, using ethical SEO practices ensures that you are offering online users a platform that is informative and trustworthy, meaning that your search engine rank improves as a result. This means more and more online users become familiar with your brand when entering certain keywords into a search engine.
Understand Your Customers’ Needs
The art of SEO means a lot of research needs to be carried out, but it’s not only your search engine ranking that can benefit from SEO. Keyword research means seeking out phrases that are used to search for content online. For example, if a user was to search for an answer to a specific computer problem, and you run a business that offers computer repair, then you could craft content that appeals to appeals to users looking for a solution. In some instances, the process can be more complex, but it does give you an idea of how offering valuable content can help a potential customer, meaning that they’re more likely to make a purchase or use your service.
It’s not unusual for a business to look at several avenues when it comes to marketing their business or brand, but some can be more expensive than others. A fully-developed business may have no issue when it comes to an advertising budget, whereas smaller businesses and start-ups may have a limited budget.
The great thing about SEO is that it can be adapted, depending on your budget, and this is ideal for a business. A new business can start their SEO efforts straight away, and build on the over time. If you have an established website that you’re looking to optimise, then you can have an expert look at it, and determine how much work you need to be carried out. Many SEO professionals understand that no two businesses are ever the same, and will work closely with you to ensure the right methods are being used, while working within your budget.
How many times have you paid for an advertisement only for it to be ineffective. While adverts in magazines and newspapers have a place in the world of marketing, it’s important that we don’t put all our eggs in one basket.
SEO is not only cost-effective, but it’s also a great way of maintaining a robust online presence. Those who focus their efforts on organic SEO effects are effectively planting a seed from which a multi-branched tree will grow, promoting your existence in several online spaces.
However, to achieve this, it’s important that we’re able to stay on top of any SEO endeavours. If you find you’re struggling when trying to meet the demands that SEO can throw up, then it could be worthwhile speaking to a professional.
SEO Builds Online Credibility
Back when the rules were a little more flexible in relation to SEO, it wasn’t unusual to see a thrown together website that made use of black-hat techniques that would often disappear as soon as it arrived. However, in a bid to make search engines a valuable tool, search engine providers such as Google implemented several changes to their algorithm to ensure that many conditions had to be met to achieve online dominance. This means that website content must be relevant and informative, as well as in receipt of some positive business reviews.
As more reviews are left and more content is share, your online popularity will begin to grow. You can also learn a lot more from your research efforts.
Create More Relevant Advertising
When carrying out SEO, the research doesn’t stop once your strategy in place, as there’s still a lot of information to yield. While you may need to make use of a content management system, the use of analytics can help understand the purchasing habits of different customers, as well as how much time is being spent on your website. Using this information allows a business to create more tailored marketing that looks to persuade those sitting on the fence, as well as creating content that has viewers hooked.
Break into New Markets
Regardless of whether you’re looking to be recognised around the world or just in your local area, there’s no denying how beneficial SEO is when it comes to acquiring new customers. The use of keyword research not only allows for you to search what terms are being searched for, but you can also break this information down into different funnels to determine what terms are being searched for within your chosen demographic.
Although there are free tools available online, to get the best from keyword research, you may need to make a small investment. If you’re using the services of an SEO professional, then keyword research will often be used unless they have been instructed otherwise. However, it can be worthwhile asking for a breakdown of what work will be carried out, so you have an accurate record of what strategies have been implemented.
The more SEO processes develop, the more they can offer. All a business must do is implement a strategy, or used a professional to ensure that the business is getting noticed by the right people online.
Last year, the Independent surrendered to the weight of its ever-shrinking print readership and turned off the printers for good, trusting the future of the publication with its online audience.
In the past, newspapers were known to hold companies and indeed governments to account. Today, their numbers are vastly depleted. According to the US Bureau of Labor Statistics, over half of the jobs within the news industry have disappeared in the last 15 years.
There’s been a steady decline of 2% for print newspapers for a rather long time, so what has changed? What has caused the breakneck speed of print publications losing their readers? What one thing has grown so exponentially in the past 15 years to become an intrinsic part of everyone’s life? It’s the internet, and online subscriptions such as https://proefabonnementkrant.com/telegraaf/of course.
Where’s the evidence?
The effects of the internet on printed publications can be further seen when we look to other pieces of evidence. You see, it isn’t just the rich world newspapers that have suffered the change. Across the western world, newspapers and magazines alike have felt the shift towards online media.
Celebrity gossip mags like Hello and Closer have seen their readership fall and fall, while music reviewing mag NME has also suffered the changing winds. Meanwhile, in the developing world, where a steady internet connection is more a luxury than an expected right, the newspaper still reigns supreme over digital news. In fact, readership figures for print publications in India are booming.
The Effects of Advertising
Most revenue generated by a magazine comes from its advertising. This is especially true for the free dailies, who rely solely on advertising revenues to finance their business.
For the publishers, this only doubles the pressure. They no longer have to focus on holding onto their readership for dear life, they’ve also got to worry about financing their efforts.
But the advertisers are too busy chasing readers out to the door. According to the Pew Research Center, this is an inevitable truth for the news industry. In 2005, advertising revenues generated by printed papers in the US topped $50bn.
Ten years later, figures had fallen to $20bn. In contrast, the revenues created from newspaper websites grew from $2bn to $3.5bn. It’s a sharp decrease for print and a small victory for the web, but the numbers are indeed there.
So why have advertisers chosen to throw in their lot with digital media? The first reason that springs to mind is consumer matching. For an advertiser, the internet is bursting with information about customers.
That’s because everything we do on the internet is recorded. Google will kindly track your browser history for you, recording the sites that you’ve visited, how often you’ve done so and how long you’ve spent on each site per session.
Creating user profiles on news websites (and indeed other sites) provides data about your age, your location and perhaps your interests. Advertisers are then able to collate all of this data to find out:
- The demographics of the people who normally purchase their products.
- Where to find more of these people so they can be tempted to buy their products.
Web users have become so accustomed to this personalised form of advertising that it’s almost expected. For an advertiser, this is the holy grail. They no longer need to place expensive adverts in newspapers and presume their efforts are making a difference. Now, sellers and buyers can be brought together, and every checkout completion can be traced.
What do the readers want?
Simply put, they want to the news and they want it now. The internet is full of real-time action. You can stream videos live, update people on your location and fight with strangers in 140 characters or less. With everything being so readily available at everyone’s fingertips, it stands to reason that the news should follow suit.
No longer are we waiting for days to find out about a sign being stolen for the village hall or that there was an accident on the motorway last week. Everything is available as it’s happening. In turn, this has led to an increase in journalism.
Well, sort of. Now, everyone with a keyboard can share the news. It causes a lot of slander and bias to leak into reporting, but newspapers are often associated with political parties or owned by conglomerates, so the bias is hardly something new.
Readers also want their news for free. Millennials in particular, it seems, have grown accustomed to having access to so much information, that they no longer deem the news worthy of being paid for. Some printed publications have cottoned onto this trend, and have changed their business model to centre around the free dailies.
These have remained popular, with 22 million copies distributed worldwide and read by 45 million people every day. However, it hasn’t all been smooth sailing for these print papers, with a string of lawsuits filed against them in Europe. Covering everything from littering concerns to the right for the Metro to be distributed through public transport, the attack on print is ceaseless.
What is the future of news reporting?
Although print newspapers are on the decline, it is hard to imagine that they will disappear completely. Some believe it’s simply impossible, with the likes of John S. Carroll, former editor of the Los Angeles Times reporting “Newspapers are doing the reporting. George and Yahoo! Aren’t those people putting reporters on the street in any number.
Blogs can’t afford it.” Simply put, the decline in newspapers means a decline in reliable and researched news. Although newspapers may suffer from a dwindling readership, it is other mediums of news reporting that rely on these companies for their facts and figures. So how do we finance the people putting in the hard graft? “It is the fundamental problem facing the industry” says newspaper analyst, Moreton. Hopefully we will have an answer soon.
Starting a new business or entering a new industry can create many issues that perhaps were not thought of initially. Most new businesses will begin with a business plan that they believe possesses the Midas touch and see profits instantly soar through the roof.
As any industry veterans know, the business plan gets thrown out the window and it’s often a game of calculated trial and error on the steps you take to success. Today we are going to take a deeper look into the online gambling industry and look into a market that is often greeted by authorities as being an unwelcomed necessity, an advocate of addiction, and by the public, a general misunderstood area.
For operators, the online gambling scene is a competition for web traffic and players and this is a merry dance that can be won through a number of different ‘proven’ strategies. Some of the main marketing methods of the industry are embedded in a finely tuned SEO strategy, pay-per-click advertising and the use of affiliate marketing.
To gain a greater insight into the industry and some of the pressures faced by an unknown name in the gambling world, we spoke to Scott Manford, CEO of Easy Slots “When we initially decided to start an online platform we were heavily invested in our SEO strategy being the main driving force for our web-traffic and marketing technique. That is still very much the case but we have needed to make necessary tweaks along the way.”
“At this moment in time we seemed to have found an SEO and marketing strategy that suits both our requirements and matches nicely with the ever-changing Google algorithms. In respect of this we have also engaged in methods such as pay-per-click advertising and affiliate marketing. I have a number of years’ experience working across both land-based and online casinos and wanted to take the next step and build a platform that brought together the best of both worlds.” Click here to view his website.
It’s perhaps only with time, experience and error that you can come across the correct ingredients that will aid your success. Outlined below are just a few of the ingredients that can be used and manipulated within the online gambling industry. It explains both some of their pros and cons and real life industry expectations of each.
Affiliate marketing is one way of externally generating customers and the resulting traffic to your platform. This operates as a branch effect where a business will have an army of affiliates who will each go out in search of drawing in new customers to the brand. What’s it in for you? You have more customers who are going to be depositing more money onto your site. What’s in it for them? Often the case with affiliate partnerships there’s always some sort of hybrid deal in place that is based on revenue share and something else. However affiliate customer generation can often be temperamental and the quality of the traffic is never guaranteed.
For anyone who didn’t know, the online gambling industry is met with fierce competition and the volatility of the first page rankings of google for popular keyword terms is often a situation that needs to be monitored constantly. Pay per click is a fast way to shortcut this and pay your way to the top which is a good method to use by the big names in the industry.
Search Engine Optimisation is often something that many people overlook because they see it as an intangible expenditure. However, SEO is vital to success in the online gambling industry. Where the first two methods could be argued to be short-term stop gaps for success, SEO can create a lot more stabilised and considered method of marketing. It allows you to create an understanding of your place in the market through intense keyword analysis and research.
While all three of these marketing strategies have proven to be successful in securing some first-class rankings in the gambling industry they are not exhaustive. To succeed in the gambling industry and the specific niches that exist within it careful consideration must be placed into the keywords you want to rank for and the quality of traffic you want to drive to your site. With Google algorithms constantly changing the market is just as volatile as the 5 reel slot games that exist within the platforms that house them.
Setting up a business for yourself has never been easier. This is all thanks to the internet and the introduction of ecommerce and online stores. Some people use it as a way to make sure extra money on the side, along with their current employment. Others may decide that they want to put all their time and effort into running that one business.
No matter what path you are taking, one thing is for sure, you are going to need to set everything up ready to start selling. This may not be the easiest of things to do, particularly if you are not too tech aware, but there are some simple steps to follow in order to have your own online business.
Here to help, we have put together our very own guide to how to start your own online business, and in no time at all be selling and hopefully making some money too.
Figure out who you want your market to be
Before you can even start to set up your online business, you need to know who you are trying to target. What will your target market want? What do they need? How can you reach them? These are all questions that you are going to need to think about. The better that you know the market, then the more success that you will have when it comes to marketing your products or services.
Some budding entrepreneurs might worry that they are entering a crowded marketplace, but if there are plenty of other businesses all offering the same type of thing, then it is clearly a good market. All you need to remember is that you have to stand out.
Pick your domain name and register it
A domain name is a unique address, a space on the internet. Just like a patent or a trademark it is all yours. There are ae variety of online domain name registration companies where you can purchase your domain name of choice. You may even be lucky enough to find a company that will also help you with hosting packages. But it is important that you ensure that this is legitimate otherwise you may be left with a domain name that isn’t even yours!
But what name to go with? Some will choice their own name, if their online store will be personal to them. Others will have a domain name that will be reflective of what they can offer. These are often better than trying to think of something that sounds nice, but that gives no clue to what you can offer as a company.
Find somewhere to host your website
As we have already covered, some domain registration companies will offer free hosting, but there are also those that don’t. A hosting service will give you a rented space on their server, which will be to run your website. There are a variety of things to think about when choosing a hosting site for your store. You will need to think about storage capacity, whether you get a domain based email, is the server secure and how often do they have any downtime.
You will also want to make sure that you have access to customer support, as there are likely to be times when things go wrong and you are going to need help.
Start to design your online store
One of the things that those setting up an online store will be anxious about is designing their website. If you are feeling creative, or you have access to website building tools, you might want to do this yourself. However, if you are really not sure on where to start, or what will be best for your own vision for an online store, then it is a good idea to hire a website designer to help you, such as Think Zap who are some of the best web design agencies in Glasgow . They can advise you on the things to think about, the areas to focus on and what will make for the very best website.
Figure out how you will accept payments
People want to pay online, this is a simple fact. So, this means that you need to make sure that you have a method to accept online payments. There are a few different ways that you can accept payments and process transactions and the main thing to think about is that they are secure. PayPal has to be the most commonplace online payment option, and this is for good reason. It is easy to use, well recognized and a place that plenty of people trust.
Get yourself some traffic
Once your website is up and running, the time has come to think about how you are going to get people to visit it. After all, there is no point designing an amazing website if there is no-one to see it. You are going to need to think about how best to get traffic to your store and then hopefully buying from you.
It is a good idea to register with all the major search engines as a starting point, as at least this will get you on their radar. Next you need to think about things such as social media advertising, direct mailing and maybe setting up a blog to add in a touch of keyword rich content.
Keep an eye on how you are doing
One of the key factors to a successful online store is one that can be improved and change. You need to keep a track of how your online store is performing. Things to consider include, what are the most popular pages? Where is your traffic coming from? What are the most popular keywords? This information is going to prove vital for the continual success of your online store as well as how you can improve your conversions and draw in more and more customers.
Setting up an online store might not be something that comes naturally to you, but it is definitely something that you should persevere with. After all that hard work and effort, to make your first sale and send out your first order, there really is no better feeling than that!
Infographic by: www.asianentrepreneur.com