All service providers and merchants who transmit and process cardholder data need to comply with the data security standards of the payment card industry. People often refer to these standards using the acronyms “PCI” and “DSS.” While the process of meeting the requirements can seem complex and overwhelming, never fear. We’re here to give you a brief guide to being in PCI compliance.
PCI Compliance and Security Challenges for Merchants
Reputable merchants want to be in compliance with the credit card industry’s security standards. They want their customers to know that sensitive information is secure with them. In other words, adhering to these standards helps to build trust between them and their customers.
PCI compliance is not required by law. However, it is mandated by major credit card holders. Additionally, merchants who fail to be in compliance could face fines and even lawsuits if their security standards are below par.
All the same, some service providers and merchants do not follow these industry security standards to the letter. This is mostly due to a lack of awareness. But there are other problems, too.
Data security is about more than just antivirus software, firewalls, and encryption. It is also about monitoring, logging, identity management, and configuration maintenance.
That’s why it is so important to keep to a schedule of regular testing. One of the chief requirements of PCI compliance is carrying out regular tests. With regular testing, a merchant can more easily identify security issues that might otherwise go unaddressed.
There are nine different versions of the questionnaire. The version you need to complete depends on how your business handles credit card data. Your answers to the questions on the form allow you to determine where your business might have security risks.
Each merchant must pass the SAQ that’s appropriate for their business in order to remain in PCI compliance.
Not Adhering to Encryption Standards
The PCI data security standards give detailed requirements about protecting stored cardholder data. To learn more about these requirements, refer to the PCI compliance guide at this link.
One of the chief requirements for being in compliance is that the customer’s primary account number needs to be unreadable. This remains the case whether that information is stored digitally or in another form.
It is the merchant’s responsibility, therefore, to implement encryption standards. This can be difficult for some merchants, especially if they are still using an older system.
Failing to Define the Payment Environment Scope
Another issue that some merchants face is that they inaccurately define the payment environment scope for their PCI certification. This is understandable, as there are numerous components that go into a single credit card transaction. Therefore, a merchant could be unaware of exactly which components they are responsible for.
Make PCI Compliance Your Goal
PCI compliance is a starting point for having high security standards. Therefore, if you process customers’ payments by credit card, then also make sure to have technically knowledgeable team members. These tech-savvy individuals can guide your organization into PCI compliance.
Whether you’ve recently launched an online business or have been running one for a while, you surely know that reviews are important not only for attracting new customers, but also for building a strong brand reputation. However, have you ever stopped to consider that a methodical customer review program could boost your profits?
As a matter of fact, there are multiple benefits that come from consumer feedback. After all, 97% of online shoppers look at reviews when searching for a business. Furthermore, 93% report that reviews influence their decision to purchase. Additionally, customer feedback plays a significant role in SEO and search marketing. This means that the more reviews you have, the higher your business will rank when customers conduct organic searches.
Therefore, picking the right custom software solution for customer review management is a major decision. This is true not only because of their generally high price points. Moreover, because of so many options and promises, it can be difficult to determine whether or not a customer review program will even help your business.
Trustpilot is a great option for many online businesses. That’s because it provides numerous features. Additionally, it also offers flexibility and customization options so it can fulfill your precise needs.
Here is a breakdown of what Trustpilot is and what it does. Let’s dive in.
1. Pricing Plans
There are lots of variables when it comes to online businesses and their budgets. Each has its own marketing strategies and service needs. This is why a flexible plan for a customer review program is a great option. This is especially so for smaller or new online companies that don’t have a lot of funds.
Trustpilot offers four different packages. These even include a free starter program that offers the basics to get new companies up and running. From there, the Lite platform offers some additional features. For instance, there are personalization options and a greater number of review invitations that you can send out each month.
The Pro and Enterprise plans offer even more options. These include customization and multiple integration options for a more comprehensive strategy.
Image Credit: Trustpilot
2. Review Collection Process
Collecting feedback can be tricky. However, customers are more likely to leave a review if the business asks them to. According to the Pew Research Center, only 10% of customers leave feedback regularly on the products or services they buy. However, when customers are specifically asked to leave a review, that number jumps up to 68%.
There are several strategies that Trustpilot offers for collecting feedback.
Review Collection Form
Trustpilot offers a simple and easy-to-use review collection form. This form asks customers to provide a star rating. It also requests an optional typed review.
Both of these features are important for a business’s feedback system. That’s because customers report that the overall star rating and the sentiment of the reviews are the most important factors they pay attention to.
Image Credit: Trustpilot
Automatic Invitations
The sooner you reach a customer after their purchase, the better. You can set up automatic review invitations through Trustpilot to be sent via email. In this way, you’ll capture customers’ attention while the experience is still fresh in their memory.
Embedded Review Form
Feedback reviews provide valuable keywords that can connect future customers to your website. Further, listing reviews on your website allows you to optimize your SEO strategy for the RankBrain algorithm. This could help your website ranking over time.
The embedded review form feature means that each review you receive can be posted directly on your website. This will increase its visibility for both Googlebots and customers checking out your site.
App Integrations
If you are an ecommerce company, chances are that you have partnered with an online merchant platform to launch your site. Trustpilot offers several app integrations with big names like Magneto, WooCommerce, Shopify, and BigCommerce. Therefore, you’ll be able to post reviews on your website seamlessly with Trustpilot’s customer review program.
Customer API
An API (Application Programming Interface) is a software-to-software interface that allows two programs to transfer data automatically. Trustpilot’s customer API works with other software tools you may already have, such as a CRM system. You’ll be able to organize the consumer data that it collects from these reviews and apply it to other databases.
3. Review Reminders
Of course, not all of your customers will fill out a review form as soon as they receive an invitation. However, it is important to gather this feedback fairly quickly after the purchase has been completed. This will ensure that the review is relevant and accurate. With a quality customer review program, you can automate this process.
Your team can set up automatic review reminder email messages to be sent out if a customer does not leave feedback within a certain amount of time. According to Trustpilot’s research, this little reminder is enough to increase feedback by 35%.
Image Credit: Trustpilot
4. Editing Existing Reviews
While it is certainly tempting to remove or hide negative reviews, this can actually hurt your business and destroy consumer trust. According to this report, a mix of positive and negative reviews actually makes the majority of customers trust a business more.
Trustpilot is committed to offering an open review platform. This means that everyone—invited or not—has the option to leave a review. Fear not. This is a good thing!
A customer review program that allows businesses to selectively pick who gets to leave a review is not presenting genuine information to consumers. Essentially, this allows brands to cherry pick their feedback. What’s more, this is something that most consumers will see right through. For this reason and more, Trustpilot does not allow companies to hide, change, or remove negative reviews.
However, you can request Trustpilot’s compliance team to take a look to see if the content violates its feedback policy. You can also request a review if you have reason to believe the review is spam and/or fraudulent.
On the other hand, a customer who leaves a review can edit that same review. So if you receive a scathing review, you can reach out to the customer and attempt to resolve the issue. Perhaps you can even change the customer’s perception and persuade them to modify their review.
5. TrustBoxes
The TrustBox widget feature makes it easy to display all of your customer reviews on your website. This provides more content for search engines to read. Additionally, it makes customers more confident with their purchase decisions.
You can even customize these boxes to show reviews for specific tags or keywords. For example, you could tag your customer service department’s rating or the overall sentiment for a specific product.
Remember, while you cannot edit a review, openly displaying it on your website can potentially boost customer confidence. Customers spend 31% more on purchases if a company lists reviews. What’s more, 68% say that reviews make them trust the business more, too.
Customer feedback is a great source of user-generated content (UGC) that you can integrate into your marketing program. According to this report, 80% of customers believe that when brands use UGC regularly, it makes their content more authentic and trustworthy.
By using a customer review program to gather lots of feedback, your marketing team will have far more content to work with. This will help them to create UGC-focused materials that can help your business grow.
7. Social Media Integration
Social media continues to have a significant effect on day-to-day life. This is especially evident in how it influences our shopping habits. For example, nearly three-fourths of online shoppers use social media to check out reviews and comments. They then use this information to determine whether or not they should buy. As a result, 52% of online and offline purchases are now influenced by an ad or a post seen on Facebook.
You can take advantage of this trend by transferring your Trustpilot customer feedback right into your Facebook page. Or create customized Tweets and Instagram-worthy content to share with Trustbot’s image generator. You can create these posts manually. However, if you go with the Enterprise plan, Trustpilot will automatically update your Facebook feedback for you.
Image Credit: Trustpilot
It is always wise to learn about the product through the eyes of its consumer. That’s because customers who have used the product can offer valuable insights about their experience. Go through Trustpilot Customer Reviews to know what Trustpilot’s verified customers have to share about this valuable customer review program.
Let a Quality Customer Review Program Take Your Business to the Next Level
A quality customer review program can help your business to collect quality reviews. It can also help you to integrate those reviews into your business strategies successfully.
When it comes to choosing a customer review program, Trustpilot has a lot of great features to offer. Further, those features will bring your brand’s marketing strategy and customer experience to the next level.
Are you looking to extend your portfolio of affiliate marketing partnerships? One niche that is worth considering is that of dating affiliate programs.
In this article, we research the online dating industry. We examine where the value lies. Then we look at one particular dating affiliate program, Affiliate2Day. Further, we examine how this site offers a promising opportunity for affiliates.
Introduction
From an affiliate point of view, online dating is still an untapped market. Everything from electrical appliances to web hosting has mainstream affiliate programs. However, affiliate programs linked to dating are much less common.
It’s a puzzling scenario. This is especially true when you realize the value dating affiliate programs create. Let’s consider what makes the dating niche so special.
Dating Affiliate Programs: More Than Just Another Affiliate Opportunity
The first thing to notice about online dating affiliate programs is that you’re not just setting up another affiliate scheme. That is, you’re doing more than simply matching a consumer with a product.
Online dating has transformed how relationships are created the world over. Therefore, an online dating affiliate program presents the potential of significant revenue. But more than that, such a setup gives you the opportunity to be part of a story. That is, you could help shape someone’s life. Perhaps you’ll refer someone to a website where they will meet their future spouse. It’s a thrilling way of looking at the online dating affiliate space.
More than that, however, let’s look at the earning opportunity. Never before have so many people reached for a digital device when they want to meet someone new or find love. Consequently, the potential for revenue generation is enormous.
Exploring the Value of the Online Dating Industry
To understand the potential that lies within dating affiliate programs, you must first understand the industry itself. At the very least, you need to appreciate the numbers.
Online dating has become big business. This is due in large part to the advancement in digital technology. Concurrently, dating norms and traditions around the world have undergone a complete revision over the past decade. As a matter of fact, the value of online dating to the global economy is roughly US$1.3 billion. Experts predict that this figure will continue growing, surpassing US$1.6 billion in 2022.
In terms of users, nearly 300 million people around the world used online dating in 2018. Watchers expect this number to continue growing as well. Moreover, the market penetration in each of the leading countries is relatively low. Therefore, there is enormous potential for revenue generation within this niche. That’s because more and more people are growing up with online dating being the norm.
The US generates more business in the industry than any other country. As a matter of fact, the US accounts for a staggering US$590 million per year. The US is followed by China, the UK, Germany, and Australia for revenue generation in this niche.
Online dating, then, is an international trend. As a matter of fact, this is the key to your success as a dating affiliate.
Many of the top dating brands in the world offer some sort of affiliate agreement. Some of these platforms focus on pairing domestic singles. Some focus regionally. However, if you’re looking for an opportunity that offers some real excitement and earning potential, then the international dating industry is where you should look.
International Dating Affiliate Programs
When you begin to research the affiliate opportunities presented by international dating agencies, things can dry up a little. Many of the big-brand dating platforms are not yet interested in long-distance, international relationships and the referrals they would generate.
Therefore, we looked instead for an established international online dating agency that would offer an affiliate program with genuine earning potential.
Perhaps the most impressive that we came across was Affiliate2Day. This site invites applications from affiliate marketers in the online dating niche that can deliver high-quality traffic and leads to any of the four key websites they own.
Each of these four websites is firmly within the international dating arena. They are BeHappy2Day.com, AsianSingles2Day.com, OneWife.com and AllTverLadies.com. All operate with the intention of allowing men from the West to meet women from the other side of the world.
Consequently, men generally come from the US, the UK, and Australia. Women on the websites are from across Asia and Slavic nations like Russia and Ukraine. All of these sites tie in directly to the biggest revenue-generating nations in online dating.
So if you have dating traffic from these parts of the world, then the Affiliate2Day program is perhaps a perfect way to look at monetizing that traffic.
At the same time, you’ll also get to buy into the romance of it all. Just think of what you could help to create in the lives of those you touch with your online dating affiliate programs!
Consumers rely heavily on ratings and product reviews when considering a purchase. In response, the world of online retail has spawned an entire industry of tools and software to capture consumer opinions for every product and service imaginable. Most of the time, it’s a great system. However, like all good ideas, there can also be a downside. Unscrupulous individuals are gaming the system at unprecedented rates.
As a consumer, it can be hard to know which sites to trust when you are looking at product reviews. Is it fraudulent? Did somebody receive compensation to write a fake review? How can you tell? Thankfully, there are companies online that address these concerns by providing clear and unbiased ratings for consumers.
So whether you’re shopping for equipment for your business or a new gas grill for your patio at home, it pays to know which reviews you can trust. Below we list four of the best review sites out there.
TestFreaks collects ratings from all over the web. They use their own algorithm to assign an overall score to a product. The site aggregates reviews from around 15,000 sources through the use of its proprietary technology.
In short, they use everyone else’s data to come up with their own, better, data. It’s ingenious.
However, because it is based on raw data and not the actual blood, sweat, and tears of a product reviewer, the results could be skewed. Additionally, considering that hundreds of companies offer a monetary incentive for positive reviews of their products, this could easily tip the rating scale based on the law of averages alone.
The system they have developed allows businesses across the web to incorporate a rating-and-review feature with a simple line of code. We suspect this is where most of their revenue derives. What’s more, the company has some heavy-hitting clients, including HP, Pricerunner, and Finlux.
Reviewing and Scoring
Testfreaks uses a scoring system they call the “FreakScore.” This is the overall product score. It combines expert and user reviews and is based on four factors:
Trust
Reviews from high quality, trusted sources are given higher importance.
Votes
The more votes a product has, the more reliable the information is.
Experts
Reviews from experts carry more weight than general user reviews.
Age
Testfreaks compares the age of a product with its expected life cycle and adjusts the score with this in mind.
Products with the least reviews usually receive a FreakScore which is close to the category average. Moreover, if a product has too few reviews, the score will be marked as uncertain, which is designated by an asterisk (*).
The Wirecutter is owned by the New York Times Company. They maintain a curated list of products they claim are the most beneficial to the average consumer. However, the site reads a little bit like a list of favorite things. All the same, product recommendations are made through interviewing, reporting, and testing by teams of scientists, researchers, and writers.
The majority of The Wirecutter’s revenue comes from affiliate commissions from their merchant partners. Therefore, in order to maintain unbiased reviews, reviewers and writers are not made aware of the commissions, if any. In short, the editorial team works separately and without any input from the revenue team.
Reviewing and Scoring:
There appears to be no specific formula for the reviews. That is, writers have quite a bit of creative leeway to convince readers of the efficacy of the product and of how they came to be an expert on said product.
For instance, near the beginning of every product review, there is a template where the writer addresses a number different categories such as, “Why you should trust us,” “How we picked the product,” “How we tested the product,” and more.
In short, this section is essentially a self-review by the reviewer who is doing the reviewing.
To give just one example, for an article about robotic vacuums, this self-review section was more than 3,200 words long. What’s more, that doesn’t even include the actual review of the product. Consequently, the average consumer will probably not have the time or inclination to read the entire discussion of a product.
Honest Product Reviews (HPR) provides precise and accurate reviews in eight different consumer categories. These categories include: Backyard, Cleaning, Clothing and Shoes, Electronics, Home, Kitchen, Personal, and Pet. Their review style gives a side-by-side comparison of similar products. This allows the consumer to make an educated choice before purchasing. The site is fresh, clean, and easy to navigate. It focuses strictly on the products being reviewed. There are no unnecessary distractions and no fluff.
Reviewing and Scoring
Honest Product Reviews utilizes real people—writers, designers, reviewers, testers, and web designers—to compile information on hundreds of products every month. Their ratings algorithm combines the following criteria to create an overall score for each product reviewed:
Features
Materials and Construction
Price
Customer Satisfaction
Pros and Cons
Using this easy-to-understand formula, the company provides product reviews that are simple and honest. HPR earns revenue through the Amazon affiliate program. What’s more, their unbiased reviews are limited to products that are typically found on Amazon. However, the company’s upfront disclosure of this policy reflects their efforts to remain honest and transparent.
Consumer Reports has long been considered the gold standard for product reviews. You probably remember that the company published a print magazine long before it ever had a web presence. And as a matter of fact, the print magazine is still in existence. Further, the company owns a nonprofit educational and consumer product testing center that is the largest in the world. Revenue comes from the company’s 3.2 million digital subscribers. What’s more, consumers around the world know and trust this iconic company for its unbiased reviews of products, from automobiles to mattresses.
Reviewing and Scoring
The Consumer Reports testing facility employs scientists, researchers, and analysts to carry out objective testing at its facility. The formula they use varies depending upon the product. Once their experts have completed testing, the company’s editorial staff writes and publishes the findings.
Because Consumer Reports has no outside agenda other than to work directly to educate consumers, they have stringent policies that ensure the company remains independent.
The main downside to using Consumer Reports is its membership fee, which is why we give it only a 4.5-star rating.
There are many factors that affect the value of the money you use on a day-to-day basis. As a matter of fact, the variety of events that can cause the rise and fall of any currency is quite wide. These can range from the findings of official bodies such as credit agencies to the policies of central banks. They can include natural as well as man-made disasters, too. Further, they can include utterances of world leaders, whether from the podium or on Twitter.
But what about the news? Do the events we read about on Twitter or view on our TV screens have the power to push the prices of the world’s currencies up or down?
The guide takes 59 news events that occurred during the period between April 2017 and April 2018. These events sprang from the actions taken by six key world leaders, including:
It looks at what, if anything, happens to the prices of various currencies in the immediate aftermath of each event. Additionally, it looks at Google search interest in each leader as a result of these events.
A Definitive Guide
Scroll through the interactive infographic below to get an idea about how world affairs affect the prices of currencies and vice versa.
It Pays to Watch the Prices of the World’s Currencies
You may be watching the price of a particular currency because it’s the currency of the country where you live. Alternatively, you could be speculating on the foreign exchange market in an effort to raise capital for starting or expanding your business. Or perhaps you’re planning to travel internationally, either for business or for pleasure. Whatever the reason, you know that the price of currency affects you personally. You’re also aware that it affects, as well, the world we live in.
So, to answer our initial question, yes, current affairs do affect the price of currency. Additionally, the price of currency has some effect as well on current affairs.
Your research and development (R and D) project is into its second year. Having successfully navigated your way through a claim for R and D tax relief for the previous accounting year, it’s time to compile documents for the next one. But can you submit another claim for the same project? Here we take a look at what happens when activity runs into two or even three years.
Continued evolution is a natural part of research and development work. If your initial forays into solving a problem are fruitless and you have the funds to continue your project, it stands to reason you would continue to look for a solution. The UK government recognizes this. As such, you will be able to file a claim for the same project for two or more years running. The only provision is that innovation must still be occurring.
In other words, you cannot claim for the same activity twice. Therefore, if your team has made no further innovations on your activity the tax authorities will not uphold your second claim. So if your expenses simply include those for maintenance and customer support, you should not make a second claim. In order to be successful, detail any new activity in a technical narrative. This will form the foundation for your claim.
Additionally, when making the claim you should include only those costs that you incurred following the previous accounting period. So, if you claimed for 2016-2017, you must have incurred any costs for a 2017-2018 claim after the submission date of the earlier claim. This is true for each accounting period for as long as the project continues to innovate.
Calculating the Claim
The claims process for the second year of an R and D project is otherwise the same as for the first year. Add your total enhanced expenditure your CT600 form. Also include the calculation for the value of R and D tax credits you are due.
Qualifying costs comprise those that relate directly to your R and D activity. This could be staffing costs, materials, utilities, certain software and the like. If you are claiming for subcontracted work, reduce it to 65% of the original cost.
Differences in Claims Year to Year
The first phase of an R and D undertaking is usually the most expensive. However, some companies do experience an increase in subsequent years. This may occur if, for example, the company received grant funding during the first year of activity. Naturally, this would lead to a reduction in the amount that it could claim as R and D tax credits. If the project depletes or exhausts the grant by the end of the first year and it receives no further grants, the company’s R and D claim might go up during the second year.
In many cases, however, a reduced claim is the norm. Further, costs of developers or specialist staff would decrease as the prototype is refined.
For assistance with making a successful claim, providing supporting evidence, or checking calculations, contact a specialist R and D tax advisor.
Surely you’ve heard the buzz about ICO’s. In case you haven’t, an ICO is an Initial Coin Offering. The acronym refers to the method by which some startups raise funds for their new cryptocurrency ventures. If you’re looking for a fresh new way to raise money for your business, an ICO might prove to be a worthy investment. However, take care to choose an ICO wisely.
Browse any ICO listing database and chances are you’ll be immediately overwhelmed. The number of organizations choosing ICO’s over traditional VC fundraising has skyrocketed in the past year. This uptick is partially due to the past success of some key ICO’s. Other token-backed organizations hope to replicate those wins.
An abundance of choices is a good problem to have. However, abundance can still be problematic. For the new crypto investor, it can be difficult to distinguish between coin offering listings. Further, it can be mind-boggling to determine which projects are worthy of further research and investigation.
Obviously, the more information a potential investor can amass and analyze, the better equipped said investor will be to initiate a strategic investment. But realistically, it’s highly unlikely that every hopeful investor has the time or energy to comb through every last sentence in the whitepaper and vet every technological nuance.
However, there is another path. Don’t drive yourself crazy trying to become an expert. Don’t try to comprehend all of the technological distinctions between the multiple organizations listed on an ICO review site like ICO Reports. Instead, assess interesting ICO’s based on the following five factors.
Team
Similar to the VC world, when it comes to attracting investors, team trumps almost everything else. Yes, of course investors want to see strong product implementation. However, product development can evolve and progress. But if a team appears to have inherent problems, it’s unlikely that they will be able to successfully grow.
A 2017 Stanford study looked at how venture capitalists make decisions. The study’s report concluded that the abilities of a founder and flanking founding team members outweigh other factors when it comes to a VC deciding whether or not to back an upstart. ICO investors can apply the same methodology when choosing the next projects they want to support. When teams are passionate, multi-dimensional, and agile, it usually means they’re a scrappy group willing to work to bring their vision to life.
Vision
As we mentioned before, the ICO marketplace is growing increasingly crowded. Further, many projects resemble one another. For example, there are numerous ICO’s dedicated to end goals such as cloud decentralization and AI development. With so many overlaps, it can be tough for investors to choose between one or another. Look for an organization with a strong and singular vision, even if it’s similar to other listings. This should be a key factor in the assessment phase.
Community
No ICO can thrive without a community of supporters. Many successful crypto companies were built on the backs of community evangelists who spread the word about the potential of an emerging team and technology. Community-building strategies, including a dedicated community manager, create buzz around an upcoming sale. Additionally, they also solve transparency concerns and forge deeper relationships with potential users.
Advisors
It’s human nature to inherently trust a product or service more if someone we know and respect has already used or bought it. The same can be said for ICO’s. When potential investors see successful entrepreneurs and technological analysts listed as advisors to up-and-coming token projects, it immediately quells suspicions. After all, if a widely respected entrepreneur sees potential in this team’s vision and product, then any investor will likely feel more confident about investing during the sale.
Roadmap
If an organization cannot answer the question, “Where would you like to be in six months?” they likely are not ready to publicly launch. A published roadmap forces a new coin-based company to strategically consider the steps they must take to finish product development. Further, they will have a good idea of when they need to begin testing. They will have a date in mind for eventually launching to the greater public. You should be wary of organizations that have not taken the time to map out how their company’s future. Further, company leaders must show an adequate understanding of how the money they plan to raise will boost these developments.
Conclusion
The ICO landscape is volatile. There is no way of predicting with absolute certainty which coin offerings will succeed and which will fail. But you want to put yourself in a position to make the savviest investment decision possible. Therefore, ensure that the ICO’s you’re interested in have passed in these five evaluation areas.
As a small-business owner, you naturally gravitate toward a lean business model. However, you likely dream of the day when your small company will grow to a much larger size.
Thanks to their resource volume, big businesses can do more things than small businesses. They can employ more people. They generate more capital and have more influence. Still, there are many things they can’t do.
Their enormous size prevents them from doing many of the things that they could do when they were smaller. For instance, a big business often has systems in place to assure the continuity of business processes. Therefore, it can’t afford to be as innovative. After all, radical change can be disruptive.
Still, a big business can behave like a lean business machine by getting better control of its digital assets. It can provide friendlier customer service and make innovation easier. It can also become more efficient, and it can restore its reputation as a benevolent entity.
When a business is small, managing its content is fairly straightforward. All it needs is a content management system for what it publishes on its website. But when a business gets large, lean business practices fall by the wayside. It usually spawns numerous websites. This helps to prevent overwhelming its audience with a single huge, complex, hard-to-navigate website.
However, by working with Zesty.io, a large business will have the capacity to publish to many websites from a central location. That’s because Zesty.io is a SaaS company that offers an enterprise-level content management system.
Friendlier Customer Service
When a business is small, customer service is often more personal. Customers easily develop relationships with the staff members who help them. As a business gets larger, it becomes difficult for the customer service staff to pursue relationships. The volume of customer transactions is simply too high. Although the business staff is much larger now, the customer base is about a hundredfold bigger.
However, a big company can give its customers more options to help themselves. It can employ automation and make FAQ pages available on its website. These will relieve some of the pressure on customer service employees. Another strategy is to outsource customer service needs to a third-party, like a call center. Large call centers have enough staff to handle a large number of customer calls and emails.
Easier Innovation
When a business is small, innovation is robust. There are fewer formal business processes in place. Therefore, new ideas are welcomed. Additionally, new ideas are easier to integrate into the existing business model. In other words, there is still plenty of room for change and growth.
By reducing the amount of red tape necessary to suggest new ideas, a big business can encourage brainstorming and planning. Further, it can foster the incorporation of new ideas into its existing business model.
For instance, Samsung, a $56 billion dollar company, remains remarkably innovative. That’s because they have created the Samsung C-Lab, an abbreviation for “creative laboratory.” They give employees ample resources—time, tools, and support—to become complete businesses. Then they encourage those ideas. And they do so even if it isn’t immediately clear how the new ideas will fit into Samsung’s current areas of business.
Better Efficiency
When a business is small, efficiency is a given. A small business needs to practice lean business methods. It must be efficient to survive. It can’t afford to waste time, money, talent, or any other scarce resource.
But big businesses, too, can decide to become faster at adopting cutting-edge technology and new business processes. To do so, a big business can automate many tasks that humans find tedious. Adopting the latest technological breakthroughs will also help to prune away stagnant legacy systems in favor of lean business practices.
Restoring Reputation
When a business is small, it does its best to maintain a good reputation. It does so by providing its customers with honest, reliable services. Otherwise, it risks losing its small customer base.
Owners of a big corporation can decide not to take advantage of the business’s ability to get away with anything. It would be easy for a big company to do so by abusing its status as a legal person with the power of limited liability. By forgoing this privilege, a big company can regain public trust. Additionally, by becoming a good place to work, it will attract the best talent and build an even larger customer base.
Big Corporations Can Implement Lean Business Practices
In closing, it’s important to point out that a big company doesn’t have to be an inflexible dinosaur. Nor does it have to be slow to adapt to a rapidly changing world. On the contrary, it can restore many of the lean business practices and nimble abilities it enjoyed when it was a smaller business.
Does your business meet its working capital requirement? How can you tell? And how can you address it if you discover that you need to?
For any enterprise, the conversion of raw materials into finished goods takes time. Further, drawing revenue from the sales of those goods eats away at a company’s cash flow. But how can an enterprise take care of its daily expenses and other expenditures otherwise?
Firms that are able to do so keep a specific volume of cash or its equivalent readily available for these purposes. This liquid asset is called working capital. It serves the purpose of managing a company’s daily expenses.
However, businesses that have a deficiency of working capital must opt for business loans to ensure smooth running.
Working capital is the difference between a company’s current assets and its current liabilities. In other words, it is the difference between:
Current assets, including cash, accounts receivable, and inventories.
Current liabilities, including accounts payable and short-term borrowing.
This financial metric measures a company’s short-term financial health. It gives insights as well about its liquidity and operational efficiency.
Does Your Company Meet Its Working Capital Requirement?
The following factors determine whether a company meets its working capital requirement:
1. The Length of Your Operating Cycle
Businesses with long production cycles need more working capital than do businesses with shorter production cycles.
2. The Nature of the Business
Manufacturing businesses cannot obtain revenue instantly from the sale of their goods. Therefore, they need more in the way of working capital. In contrast, retail establishments can sell their goods quickly. This eases their need for a large amount of working capital.
3. The Nature of Your Production Technology
Technology-intensive firms require less working capital than do labor-intensive firms. In both cases, most of the working capital goes toward paying wages and salaries. Moreover, by using the latest technologies at their disposal, these companies are better able escalate production. This helps them to surpass their break-even points quickly.
Seeking Working Capital Financing
Is your company in the unfortunate position of having insufficient working capital? If so, seek out a working capital loan. These loans are explicitly designed to help companies like yours meet their operational expenses.
This corporate debt ensures smooth functioning by taking care of daily expenses. Your company will no longer be dependent upon on unstable and changeable sales revenues.
The Benefits of Working Capital Loans
With sufficient working capital, your company will benefit in multiple ways:
Better Inventory Management
Regular restocking of depleted inventory is crucial for efficient functioning. With stable working capital financing at hand, your business will enjoy hassle-free operations.
Easy Debt Financing
This sort of financing doesn’t require firms to provide ownership to lenders. Contrast this with funding from venture capital. In these situations, a business owner needs to share ownership and decisions. However, this is not the case with a working capital loan.
Maintaining Cash Flow
With working capital financing, you will have steady cash flow. This will help you to maintain stability in your business. In this respect, loans from reliable financial institutions such as Bajaj Finserv can be helpful.
Look to their pre-approved offers on working capital loans and their relatively fast disbursement. In other words, your business will have independence from its financial obligations quickly. Moreover, applicants need to provide only minimal documents and adhere to simple eligibility criteria. In other words, it’s easy to obtain a loan from Bajaj Finserv.
Credit Line Advantages
With a credit line, your firm will have the advantage of a certain amount that it can withdraw as needed. Then, you’ll need to pay interest only on the amount you have used. You won’t need to pay interest, in other words, on the entire credit line.
An End to Cash Flow Problems
A working capital loan can help your business fill the gap between cash inflow and outflow. In short, this loan will supply your business with its working capital requirement.
Moreover, with sufficient working capital, your company can overcome its liquidity crisis. It will have a financial cushion and its cash flow problems will become a thing of the past.
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In the world of international ecommerce it is important to market your products and services effectively.
However, you can expect to face strong competition. What’s more, you’ll be competing against large companies that have their own special marketing departments. On social media, you’ll be competing for your market’s attention amid numerous distractions.
Therefore, you’ll need to be proficient in guiding traffic toward your website. You’ll need effective tools to get your target market to notice you. Here are some rules of thumb that can help:
Rely on tips from the experts
Focus on your objective and always be professional
Be creative and unique
Be alert to changing trends and stay ahead of the pack
In addition, in this post we share some specific actions you can take that will improve your competitive edge.
Did you know that building a group on LinkedIn is free? What’s more, having your own LinkedIn group will provide you with opportunities for offering engaging and useful resources to other group members.
Therefore, a LinkedIn Group will give you a solid international ecommerce platform from which to market your international ecommerce store. That’s because it will give you an excellent way to drive traffic to your website. And when more people visit your website, more sales will naturally follow.
However, LinkedIn members won’t appreciate a hard sell. You’ll have to be more subtle than that. Make sure your group is first and foremost an avenue for group members to network online. Therefore, call upon your well-honed people skills when it comes to running your group.
When you can be clear that the goal of your group is to get people talking and interacting, new customers for your business will be a natural outcome.
2. Create YouTube Videos
YouTube is one of the most popular platforms on the Internet. As a matter of fact, YouTube has more than 800 million visitors from around the globe every month. Therefore, when it comes to marketing your products and services, YouTube is the way to go.
On YouTube you can give viewers complete details about your products and how to use them. What’s more, you’ll find there the maximum audience for your business. However, be sure to go beyond merely uploading videos, posting products, and sharing images. In other words, be creative.
In order to capture lots of eyeballs, your video must:
Have an attractive title containing strong keywords.
Be authentic.
Be current with the latest trends.
What’s more, your video must offer an engaging, concise, and clear message. In other words, don’t try to present too many different products in a single video. Likewise, don’t stuff your video with too much information.
You might think you need to use high-tech cameras, special lighting equipment, and complicated editing software to make an attractive video. However, a smartphone camera can do this job well, too. For editing, use free software that you can download onto your PC.
3. Introduce an App for Your International Ecommerce Outlet
Many people these days like to have reminders on their busy schedules. Therefore, make it easy for your customers to download a free app for your store. Then be sure to update your app frequently to offer them exclusive deals, available only on your app.
Without a doubt, an app of your own will boost sales in your international ecommerce store. That’s because your customers won’t need to wait for a specific time to log in. They’ll be able to receive your updates instantly and act on them quickly, as soon as you make them available.
4. Give Exclusive Offers and a Variety of Discount Deals
Likewise, offer products in a variety of styles that customers can redeem with a discount code. When people feel they’re getting a bargain, they’ll be more likely to visit your store again and again.
Take These Actions and Capture Your Audience’s Attention
Use these online marketing activities to engage your target audience and keep them coming back for more. By engaging your audience, you’ll be sure to gain loyal fans and boost profits in your international ecommerce store.
Brainstorming YouTube video ideas can be tough. And if ideas aren’t coming to you, that can eat away at your motivation. In order to save you time and energy, and to help you stay enthusiastic about YouTube, filmora.io created both an infographic with 701 YouTube video ideas and the free 701 Video Ideas eBook.
Scroll down to find the infographic.
Plus, below are five tips that can help you generate even more of your own original YouTube video ideas.
If you think you have an idea, don’t let it get away! By carrying a notebook (or using your phone to record notes) you’ll be ready to capture ideas when they come to you. Never assume you’ll remember an idea later. You might, but you might not.
Knowing that you are ready to record ideas, as well as being in the frame of mind that you are hunting down ideas and inspiration, will help more ideas to come to you as you go about your daily life. Writing ideas down may even prompt you to come up with similar ideas. Instead of having a couple ideas while waiting in line at the grocery store and then forgetting one by the time you get home, you’ll end up with a nice list of thought-starters.
2. Think About Your Life
You don’t always have to look outside yourself for ideas. Viewers on YouTube love getting to know the creators they follow. So when you’re stuck for ideas, the easiest thing to fall back on might be to tell your audience a bit more about yourself.
If you have a gaming channel, for example, you could post a video about your favorite five games. Alternatively, you could get specific and choose a top five with a theme, like horror. If you have a tech channel, you could do a “What’s on My Phone?” video showcasing your favorite apps. Even if you have a lifestyle or vlogging channel where you already talk about your life, there’s probably something you can share with your followers that you haven’t yet (so long as it’s something you’re comfortable with). What’s a book that inspired you? Did you enjoy high school?
3. Find a Niche
If you can choose anything in the world, that makes it pretty hard to make a decision. Coming up with video ideas is a lot easier if your channel has a narrower theme. For example, beauty is a huge category. A more niche category could be something like “natural beauty” or “styling curly hair.”
It’s easier to come up with ideas for a niche channel because you’re more focused when you’re brainstorming. Also, your niche will usually be something you’re passionate about or something that directly relates to your life. For example, if you like baking and you also love comic books, then you could make a comic-themed baking channel where you make things like Spider Man cupcakes. Zooming in on something you really care about makes ideas come more easily.
4. Let Yourself Just Be
Sometimes it can be hard to come up with video ideas just because you’re too busy, or your mind is focused on something else. If you are constantly playing games, or scrolling Instagram, or talking to friends, then maybe those things could inspire you with video ideas. Sometimes, though, it’s a good idea to go on a nice long walk by yourself. Or sit on your porch and watch the sun set.
Try giving yourself time just to breathe and not think of anything in particular. Let your mind wander to the most random places, and that’s where you’ll find some of your best ideas.
701 YouTube Video Ideas
5. Play This Game
Choose five ideas from the graphic above. Or read the 701 Video Ideas eBook. Then write your five ideas across the top of a piece of paper. On the right side of the paper, make a vertical list of five things you love (that are somewhat related to your YouTube category). Make this into a grid.
Look at the places where the ideas and the things you love intersect. Consider whether there are potential videos there. Sometimes there are, sometimes there aren’t, but even when there aren’t, answering the question, “Why not?” can sometimes lead you to some video ideas.
Welcome to the Universe of Endless Video Ideas
Combine the ideas in this infographic, or the 701 Video Ideas eBook, with these methods of brainstorming. You’ll then be able to come up with an endless supply of video ideas for YouTube.
If you’re never stuck for video ideas, you’ll be able to post new videos more often. Posting on a consistent schedule can be the key to attracting subscribers and growing your channel faster. Success on YouTube has a lot to do with whether or not you can come up with lots of ideas. And—by using these methods and free resources—you can!
Both Apple’s iOS App Store and Google’s Play Store are flooded with millions of apps. Any good idea is rapidly cloned. This dissuades people from downloading them. It also stops entrepreneurs from creating new ones. But progressive web apps (PWA’s) live outside the app stores. This allows them to be promoted individually and distinctly. This thereby create a great business opportunity.
The trouble with app ideas and useful business information is that they are easily copied and repeated. Once an app appears on a store, cloners leap in and mercilessly repeat the idea. They rapidly flood the store and rob the app of any distinction. Only a few apps are lucky enough to get first-mover advantage and enough traction to stand out.
For example, take a look at Flappy Bird, a simple idea of a game that was cloned more than 1,000 times. What’s more, many of those copies launched within days or a matter of weeks. Your business idea might be higher brow than a few avian pixels in a game. However, the news of rampant copying certainly put off a few people from launching on the app store. Progressive web apps, however, dissuade imitators. Thus, they help to promote your business and ideas to a fresh audience, keeping them engaged.
The Power of Progressive Web Apps
With a progressive web app, you can keep the app on your own site. In this way, you direct only customers or prospects to it. Your app can remain focused on your own business audience or market. This gives you total control over discovery and keeps your app largely free from prying eyes.
A progressive web app is a hybrid of website and app. It can be easily developed using a template-based service. PWA’s can feature all the best parts of apps. This includes stores, ordering, data sharing, messaging, and push notifications. In other words, you’ll be able to keep in touch with your audience easily.
PWA’s offer a range of benefits, including an offline mode. Therefore, your user doesn’t need to be connected all the time. PWA’s don’t take up as much space as a full app, either. That’s because they have basically a zero install size. Therefore, people are more likely to keep your app on their device even when space is tight.
But their key benefit, whether you develop the app yourself or use a builder service, is there’s no need to go through the lengthy app store approval. Nor will you need to deal with updates and other hassles. What’s more, your business can develop the app using templates with no need to go to an outside agency. This will keep your costs down and speed up changes and adding features.
The Modern Way to App
Progressive web apps have been around for a few years now. However, web technology in the guise of wider HTML5 adoption is finally here. This makes progressive web apps suitable for prime time, supported on both iOS and Android devices. Whether your business provides information services or needs a concierge or booking service, a progressive web app is the right way to reach your audience and maintain loyalty.
Most users will not recognize the difference between an app and a PWA. However, your business will gain benefits that include greater stickiness, better response, higher conversions, and reduced bounce rate. What’s more, your website can flow easily into the app.
These benefits are vital to business. As mobile web use continues to grow, it will outstrip desktop use. However, people are becoming wary or tired of apps and app stores. Even relatively young users are getting fed up with searching for new apps. Instead, they stick with a few useful tools and social media.
Stay in Closer Touch with Your Customers
Check out this infographic for some impressive statistics to see how a PWA can directly affect you and help your business. From a marketing perspective, PWA’s allow you to keep a close eye on your users. You’ll get feedback on their interactions and be able to reach out with push notifications.
Furthermore, if your business is in the realm of providing information, then you can easily update the PWA template. In other words, you can tweak it to sell more or different types of information. And remember, you can do all of this without having to go through app store approvals.
More Benefits and Features
PWA’s offer a wide range of key benefits for startups and small businesses. For example, there’s no need to learn coding. There are no additional costs. And you don’t need artistic skills. Content can come directly from your website.
Extra features that can help make your PWA more engaging include useful tools like calendaring. Plus, you can add rich media to show off your company content, and you can link to social media. You can also add online payments for in-app purchases or direct sales. Loyalty features like coupons or money-off vouchers can help keep customers coming back to your store. And you can easily encourage new prospects to sign up.
PWA’s Work Well with Both Apple and Android
Now that Apple supports PWA’s in WebKit as part of iOS 11, both iOS and Android devices provide fertile ground for your business’s growth. What’s more, with a PWA you retain immediate control. Thus, you can protect your apps and ideas from the ravages of the traditional app stores.
I’m a serious Francophile, especially when it comes to French movies. Cheese, baguettes, wine? Those are all icing on the cake! Recently I convinced some friends of mine to commit to a trip to France. I was planning to take some time away from my business. And I found some great prices for plane tickets that depart in two months. However, I don’t speak French. Therefore, I wanted to learn how to speak a new language fast.
I want more than anything to be able to communicate in French just as I’ve seen in all my favorite French flicks. Plus, for some reason I have a reputation among my friends that I can speak French. This was totally not true. I certainly never pretended to know how to speak French. I just love the language and culture.
In preparation for my trip, I downloaded a highly rated French language app. Although the animations were cute, it felt more like entertainment. Plus, it wasn’t very informative. After a couple of lessons, I decided the app wasn’t going to position me to communicate with French speakers during my trip. I guess on some level, I also thought perhaps the failure was on me. Perhaps I’m just not very good at learning a new language. In any case, I abandoned the app.
Enter OptiLingo
A few days later a friend recommended OptiLingo. My friend explained that it uses an effective learning method called “guided immersion.” I gave the program a try. Within the very first lesson, I was speaking French. Unlike the other app or other language programs I’ve used in the past, this process is much more intuitive. The lessons are laid out so that I learn new words not just by their definition, but by when and how they are used.
Since I love the French culture, this program is right up my alley. As I study my lessons, I get to learn a new language and dive deeper into the culture that I love so much at the same time.
How It Works
OptiLingo uses a unique five-day study plan in which you learn new material and review the oldest previously learned material each day. In this way, I’m able to continually refresh my memory on lessons the program has already introduced. I never feel pressured to commit any words to memory. That’s because I know that I’ll have a chance to review the material again down the road. This lightens the mood during each lesson. I feel free to simply enjoy the material. And since so much of the content is framed around everyday French culture, I feel like I’m already getting a taste of what’s to come when I do finally embark on my trip to France.
And Now, Bonjour!
The other day, I watched one of my favorite French movies, The 400 Blows. I surprised myself with how much I understood! I’m so happy I decided to go with this program. I now think I’ll be in a good position when it comes time to say, “Bonjour!” in France.
