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How to Create an Effective Marketing Strategy

How to Create an Effective Marketing Strategy
Effective marketing is essential for any business that sells products and services. Without marketing, you will be unable to generate sales and maintain a steady cash flow. Marketing will help you grow awareness around your products, build your company’s reputation, and connect with your customers. You must have a solid marketing strategy in place to guide your marketing activities. Your marketing strategy will help you make informed advertising decisions and tailor your marketing campaigns to your target audience. Developing a marketing strategy takes time, but it’s a worthwhile task for every business owner. Here are some suggestions on how to create an effective marketing strategy for your business. Identify your marketing goals Your first step should be to identify your key marketing goals and objectives. Having clear goals in mind will help you create more defined marketing strategies. According to Hubspot, some common business marketing goals are to build brand awareness, boost customer value, and generate high-quality leads. Your marketing goals must be specific and measurable so that you can monitor your progress. It is also important to set goals that are achievable based on your resources and budget. Make sure that you recognize and celebrate achieving a specific marketing goal. This will motivate your marketing teams and help to ensure that your marketing goals are met. Conduct market research Market research is a crucial step in creating an effective marketing strategy. You must collect data on your market, audience, and competitors. Firstly, you should research your market and familiarize yourself with your industry’s latest trends. You must also research your target audience and create a profile for your ideal customer. This should include their demographics, buying preferences, and consumer behaviors. Having this information will allow you to tailor your marketing to your customers and create personalized advertising campaigns. You can identify your ideal customer using Google Analytics and the Facebook Insights tools. These tools will help you identify your customers’ needs and create more effective, targeted marketing strategies. Your market research should also involve creating a profile on your competitors. Make sure that you know who your competitors are and learn about their products and marketing techniques. This will help you gain a competitive advantage and identify ways to stand out in your industry. Explore various marketing tactics You should test a variety of marketing techniques to find what is most effective for your brand and customers. Exploring different marketing approaches will help you identify the best ways to reach your target audience. Ideally, you should incorporate a variety of online and offline advertising techniques into your marketing strategy. Here are some of the most popular marketing tactics to consider: Social media – Social media usage has soared in recent years, and it is estimated that there will be 4.41 billion social media users by 2025. You can leverage social platforms to interact with your customers, promote your brand and products, and build a positive reputation. When it comes to social media marketing, high-quality content is key. Make sure that you produce relevant content that has value to your followers.  Email marketing – Email marketing has been around for many years, but it remains one of the most popular and effective forms of digital marketing. Email marketing can help you communicate with your customers, collect feedback, and increase traffic to your site. You can use a tool like Mailchimp to help you run successful email campaigns. Offline marketing – Digital marketing can be highly effective, but you shouldn’t overlook the importance of traditional marketing techniques. Offline marketing can boost your digital marketing results and allow you to engage with customers who are not connected online. Some of the...
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Why Hire A Virtual Assistant

Why Hire A Virtual Assistant
Why hire a professional virtual assistant? There are good many reasons for business professionals to hire virtual assistants to help with their office tasks. Must-Have Tools for Virtual Assistants First let me list down 10 tasks a VA can do Schedule meetings and appointmentsOrganize inboxes and keep up with emailsResearch and travel plans for work and leisureProofread and edit proposals, emails, presentations and moreOrganize speaking events and travel details for busy professionalsCreate and maintain a social media presenceWrite, publish and promote an eBook or digital productsBuild and maintain a newsletterEvent planningTranscription and much more… Things to Consider Before Hiring a VA Is the hire financially feasible? Do they have reliable references? Do they have a reasonable turnaround time? Are they trustworthy? Are they easy to communicate with? Blueprint to Launch your own VA business A Comparison in Cost of Hiring Between an Employee and Virtual Assitant Employee Vs Virtual Assistant Picture Courtesy: VAnetworking How you can make work easy for both sides when you hire Start with a trial projectBe clear in your explanation and expectationsDon’t expect them to come to your locationKnow your budget and be upfront about it Five benefits of hiring a Virtual Assistant No need to provide an office or physical workspace– added costs are avoided.No need to provide expensive equipment- they are already equipped.Save your valuable time– that can be spent to develop or expand your business further and also to improve quality time with your family.More focus on critical issues – since the administrative tasks are handled by your VA.You enjoy peace of mind- knowing that your business tasks are being handled by an able...
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How to Make Your E-Commerce Website User Friendly

How to Make Your E-Commerce Website User Friendly
Creating an E-commerce website that positively appeals to customers is tricky. When potential customers click on your site, you want to lead them to the shopping basket rather than the x in the corner. To do this, your goal is to make it as user-friendly and professional-looking as possible, and here is how you can do just that. Stay Simple The key to a professional-looking, easy to use website is to keep it as simple as possible. When it comes to your business, you will most likely want to show off everything you have to offer as soon as possible, but it helps to strip it down. On the homepage, don’t overload users with content. When it comes to description, you should keep it short and succinct, letting users know your purpose without bombarding them with a large chunk of text. Think about when you click on a website. Are you more likely to stick around if the information is clear and easy to read, or if there is a messy mixture of words and images overloading your eyes? Keep your customers engaged by keeping your website as clean as possible. A Clear Contact Page Your customers need to be able to contact you easily. This means your contact page must be easy to find, and when clicked on, the contact numbers, email, and address should all be clear. Use Chat Bots Customer service is an important part of an E-commerce site, and one of the cheaper and easier ways to provide consistent communication is the use of chatbots. Using AI, chatbots allow quick interaction with customers on your site. It means that you don’t have to constantly check messages to provide excellent customer service to your website users. Find Outside Help Building a functional, professional-looking website isn’t as simple as you would think. It takes time, creativity, and decent background knowledge of web development. Not to mention the ability to create engaging content. An SEO agency will help give your website consistent content to bring more users in and engage the customers who are already there. If you sell clothing, for example, your talent might not lie in content creation and website building, but not having them will negatively impact your sales. Finding a professional to help you could make all the difference in bringing you more sales. Use the Right Colors  Color is a huge part of the overall image of your E-commerce website. Don’t simply choose your favorite colors, and avoid making your site look like multiple rainbows (unless it directly ties into your brand’s image). Think about what you are selling and who your customers are. If you are a kid’s clothing website, for example, bright, primary colors would work well. Generally, the rule of three is a useful rule to stick to. If you’re struggling with the aesthetic, then a web designer will help you find the colors that make your website pop. By creating a clear, easy-to-use, and aesthetically pleasing website, you ensure more of your site’s users turn into...
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How AI Is Changing the Financial Industry

How AI Is Changing the Financial Industry
Artificial Intelligence (AI) is transforming industries across the board, and financial companies and institutions are moving fast to keep pace. AI is changing the way we apply for loans, file insurance claims, invest our money, and interact with our banks. Here are some of the most prominent AI trends that are making inroads in the finance industry. Fraud Detection and Management As e-commerce is rising in popularity, so is online fraud. To prevent frauds, many e-commerce platforms and card issuers have been forced to decline transactions too aggressively. According to a study by Javelin Strategy, retailers lost almost $118 billion in 2015 due to false declines. Moreover, more than a third of cardholders abandoned their card because it was falsely declined. To detect fraud and prevent loss of revenue, many financial institutions have turned to AI. Machine learning algorithms can reduce false declines and improve the accuracy of real-time approvals because they can identify fraudulent activities that would go unnoticed by humans. Recently, Mastercard has launched its own AI-based fraud prevention system. Mastercard’s technology gleans patterns from the historical spending habits of shoppers. It uses this data to set a behavior baseline that allows it to score and compare new transactions. It is not limited to predetermined rules. Traditional fraud detection systems, on the other hand, use a one-size-fits-all approach when evaluating transactions. Since Mastercard processes countless interactions each year, they have plenty of quality data they can use to hone and train its AI fraud prevention system. Thanks to machine learning, AI fraud detection systems learn on their own and improve themselves over time. AI systems can also automate AML (Anti-Money Laundering) and KYC (Know Your Customer) compliance. Virtual Assistants and Chatbots Thanks to machine learning and natural language processing (NLP), chatbots and virtual assistants can deliver human-like interactions. There are more and more virtual assistants that are designed for various niches within the finance industry. Banks and other institutions use virtual assistants and chatbots to offer personalized conversational experiences to their clients. Unlike human agents, virtual assistants can juggle multiple accounts at once, and they are always available. They allow customers to get assistance outside of office hours. Banks, brokerage firms, and insurance companies can use chatbots to reduce the workload of their call centers. By offerings comprehensive self-help solutions, clients can successfully apply for loans, get personalized financial tips, or file claims much faster. For instance, the AI Insurance Claims Assistant can help and re-engage with customers throughout the complete claims process. It can gather the required information for processing and update the customers on the status of their claims. They also have digital workers that can automate the onboarding journey, help customers figure out their coverage needs, update their information, or make policy adjustments. Banking bots, on the other hand, can help customers optimize their financial plan by intelligently tracking their income, spending habits, and essential recurring expenses. They can also help customers open an account and remind them to pay their bills. Risk Assessments As mentioned, one of the strongest features of AI is its ability to learn from past data. Since records and bookkeeping are an essential part of financial services, AI and finance go hand in hand. Credit cards are a perfect example. To determine if someone is eligible for a credit card, card issuers use credit score. But, business-wise, it doesn’t always make sense to group customers into “haves” and “have-nots.” Instead, financial institutions can use each customer’s data, such as the number of credit cards they have, the number of loans currently active, and information on loan repayment habits, to customize the interest rate on the card they have issued...
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Social Media and Security: Keeping Your Business Safe  

Social Media and Security: Keeping Your Business Safe  
Social media security should be taken seriously if you want your company to thrive, your customers to remain safe online, and your brand representation to remain on top form. Unfortunately, there are people out there that may impersonate your brand or hack your social media accounts. If you want to keep your business safe, read on to find how to do so and what can happen if you don’t. Potential Threats The main threats that can harm your reputation and business are: Fake links which look like your website, but are actually a downloadable malware Impersonation accounts which could sell fake products to potential customers, leaving them unhappy with your brand Impersonating profiles of staff members to gain private and personal data Communication of wrong information which could affect the stock price Hacking of your social media profiles to gain confidential data or post false information The above threats can happen to any business, even small businesses, so you should never believe your business is immune to threats. Instead, you should follow safety advice to ensure your social media is safe from hackers and trolls online. The Cost to Your Business Unfortunately, social media scams such as the ones above can damage a company’s reputation and may lead to financial loss. Any customers who have fallen for this scam will have less trust in the company and will be likely to inform others, meaning many more people are less likely to trust your real profiles and website. You may even deal with negative press over the issue. If you haven’t taken the necessary steps to keep your social media accounts safe, you could be liable for paying back disgruntled customers. Best Social Media Safety Practices There are several simple steps you can take today to implement a safer and more secure way of working with social media, here are a few ideas to get you started: Change passwords regularly, and make them randomised Form a company social media policy that must be signed by each employee Regularly search for your brand name on social media to ensure there are no fake accounts Never list vacation times of management on any social media accounts, whether this be your own personal account of your business account Update your privacy settings regularly, especially if employees have left the company Permanently delete unused accounts Inform your customers if you are aware of any dangers or fake accounts associated with your company If you want to keep your business safe from fake profiles, consider using online brand protection services for businesses. FraudWatch International can protect your company by detecting and removing impersonating profiles from social media, as well as in many other ways. Check out their website for more information on how they can help you to keep your business safe. Being safe online is important for all businesses. Social media is a fantastic, free tool that can drive sales and improve customer retention. Follow the above steps to maintain safety and your company’s...
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