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How To Start Marketing Your Business

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To new business owners, starting a business is often its own reward. They are thrilled to be able to be their own bosses, and to successfully get a business up and running. Often they are happy just to keep the dream alive.

But every business needs to grow. That doesn’t mean you have to reach out to a larger market – it means working toward increasing your share of the one you are targeting. This will keep your business healthy enough to survive obstacles such as tough economic times.

In order to keep moving forward, we need to market our businesses constantly. We need to dedicate a certain percentage of our resources to building our brand and reaching our target market. Here are some simple things you can do to help your business grow.

Have a clear picture of your target market.

Find out what types of people use the products and services you provide and respond to your business philosophies. If you’re not marketing to the right people, all will be lost.

Research, research, research.

Determine how to best reach your target market and what they expect out of your offerings. Study your competition carefully, and make note of what they’re doing right and wrong.

Choose your marketing channels wisely.

If your target market rarely reads, there’s no point in advertising in a magazine. Use what you’ve learned about them to find the best possible outlets for your message, and focus your marketing efforts there.

Give your advertising a chance.

Studies show that consumers require repeated exposure to a product before they will even consider buying. So don’t be surprised if one ad run doesn’t bring spectacular results. If you’ve done your homework and found a viable way to reach your market, run the ad at least two more times before you evaluate the results.

Take advantage of free publicity.

Sending out press releases and finding other ways to attract the media will give you high-quality exposure, and it won’t eat into your budget.

Keep track of the effectiveness of your marketing efforts.

If what you’re doing is working, you should be generating more revenue. Use some of that revenue to do more marketing. If it isn’t working, make adjustments and try again.

Sometimes you’ll have to take a step back with your marketing plans. But that’s not a sign you’ve failed. It’s a sign that you’re a smart marketer. Sometimes the market changes, and it’s up to us to monitor those changes and adjust our marketing plans accordingly. No successful company markets the same way forever. By evolving with our target market, we can make our marketing work better.

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Source by Jon Allo

Views: 0

January 30, 2020
MLM vs. Consumer Direct Marketing Business Opportunities

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We’ve all seen them before – businesses that promise great wealth and prosperity with a minimal amount of effort. Did you know that only 1 out of every 1,000 home-based businesses last longer than 5 years? So what REALLY sets all these companies apart, and which method has the least risk for everyone?

First, let’s take a look at a way of marketing that has gotten SO popular (and many times out-of-hand) – Multi-Level Marketing. When you think of multi-level marketing, you may think of overbearing sales people who begin by bothering their family and friends, and resort to manipulating others into buying lots of inventory. You might also imagine a get-rich-quick scheme with promises of great wealth through very little work. Finally, you may envision business schemes that lack a compelling product, but hype up the promise of big incomes.

Now, let’s take a look at what a few companies are turning to – Consumer Direct Marketing. What’s the big difference? Well, Consumer Direct Marketing typically redirects the funds that would typically be used for advertising, multiple shipping costs, various middlemen, and several distribution channels into spending for higher quality ingredients, product innovations, and profit sharing with customers. The result of this is a new and interesting method of delivering quality, low-cost products to families around the world – and then SHARING THE INCOME with those families.

The companies that are truly heads and tails above the rest are all turning their attentions to the important aspects of Consumer Direct Marketing. The true result is less risk for the business-builder as well as the consumer, because there are no inventories to buy, no financial risks, and no hype. EVERYONE, people referring the products, and customers alike, only buy what they need each month. And of course, anyone who refers someone else earns a commission from the purchases of the customers they refer.

Maybe the neatest thing about this almost “laid-back” method is that the majority of customers buy each month without any interest in receiving commissions, and when you have customers that really love the products and aren’t pressured from the vast majority of MLM companies out there, that means true residual income – income that you’ll receive the rest of your life – your retirement, or your children’s college education!

If you’re interested in a 20-year-old Consumer Direct Marketing company that might be a great opportunity for you and your family, please don’t hesitate to contact me, and I’d be happy to share my experiences with you.

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Source by Hayley Keller

Views: 0

January 30, 2020
Can Enzyme Therapy Heal Breast Cancer?

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That is a million dollar question, isn't it? I can speak from my personal and professional experience, and say that I have seen Enzyme Therapy play a very important role in healing Breast Cancer, and many other types of cancers. What are enzymes and why do they work?

Let's start by understanding cancer cells and what is called the Trophoblast Theory, discovered by Dr. John Beard in the early 1900's. Trophoblasts are specialized cells of the placenta that multiply rapidly, invade the wall of the uterus and create its own blood supply. Cancer cells function in the same way: they multiply rapidly, invade other tissues and create their own blood flow.

Trophoblasts produce the hormone HCG which is the basis for the widely used pregnancy test. Cancer cells also produce HCG, as confirmed by a study done in 1977 by Dr. Robert Williams. He reported the presence of HCG, 2 and 3 years before a cancer diagnosis. There have been other studies indicating that this "pregnancy hormone" is present with various forms of cancer. (Learn how to STOP cancer before it starts with sensitive blood cancer markers, such as this one in references)

The placental Trophoblast cells continue to multiply and grow until something very interesting happens. On day 56 after conception, the fetus begins to secrete pancreatic enzymes . This STOPS the replication of the Trophoblasts and the placenta no longer continues to grow.

But as adults, don't we secrete pancreatic enzymes, specifically protease enzymes like trypsin? We do, but not in sufficient quantities. Our pancreas is over worked because of excess sugar and carbohydrate consumption. Eating cooked and processed food also puts a strain on our pancreas.

Years of application by various doctors such as Dr. William Kelley, Dr. Kelly Raber and Dr. Gonzales have proven time and time again, that Enzyme Therapy is extremely beneficial for cancer patients.

All enzymes accelerate reactions, or even permit reactions that otherwise would not happen, while the enzymes themselves end up unchanged. Enzymes therefore are catalysts and can act over and over again doing the same thing. The protease group of enzymes (trypsin, chymotrypsin) are specifically directed to proteins. Amylase attacks carbohydrates while lipases attack fats.

Cancer cells act as enzyme-inhibitors by secreting a number of substances that reversibly inhibit the proteases manufactured by the pancreas in the body (this is one of the reasons that high levels of pancreatin are needed to defeat cancer). Glyco-proteins in the form of lactate (a precursor to lactic acid) are also released from the cancer cells that also act as enzyme-inhibitors. That is only 1 of many reasons why one may need large doses of Pancreatic Enzymes.

Secondly, the theory is that pancreatic enzymes attack the proteins on the cancer cell membrane, making them weaker and more vulnerable to the Immune System. The electrical charge of the cancer cells seems to "attract" these enzymes, while our healthy cells repel them.

Slowly but surely, Enzyme Therapy is gaining recognition in the scientific journals. A study conducted in Colonge, Germany in cancer patients suffering from Breast and Colo-rectal Cancers, documented promising result with enzymes. The therapy significantly decreased tumor-induced and therapy induced side effects and complaints. They found that the enzymes had the following properties:

Boost the Immune System
Anti-inflammatory
Anti-infectious
Anti-tumor
Anti-metastatic

Enzyme Therapy has worked with thousands of people and all types of cancers.

Unfortunately, this type of therapy will never gain FDA approval because you can't patent an enzyme and make billions of dollars. The cancer industry is a sickness-based industry that will never find a "cure". The cure is already here and it can be found in lifestyle changes, organic nutrition, ingestion of cancer killing herbs, detoxification and emotional healing, or as I have coined the term, The 7 Essentials.

To learn more about Enzyme Therapy, visit the Cancer X Products in my store. Email me directly if you have any questions. Always consult with a professional and experienced health care provider that is familiar with enzymes – don't guess when it comes to your health.

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Source by Veronique D Desaulniers

Views: 0

January 29, 2020
Effective Working Capital Management and Optimal Synchronization of Cash Flows

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How do firms choose their operating cycle? How do firms choose their cash conversion cycle? What is the impact of firm’s operating cycle on the size and periodicity of investments in receivables and inventories? How do seasonal and cyclical trends affect firm’s operating cycle, cash conversion cycle and investments in current assets? These strategic policy questions relate to optimal cash flows synchronization and effective working capital management designed to maximize the wealth producing capacity of the enterprise.

In this review, we will examine some pertinent and extant academic literature on effective working capital management and provide some operational guidance to small business enterprises. The shorter the cash conversion cycle, the smaller the size of the firm’s investment in inventories and receivables and consequently the less the firm’s financing needs. Although setting ending cash balances is, to a large extent, judgmental, some analytical rules can be applied to assist effective formulation of better judgments and optimize cash flow management.

As you know, a correlate to cash is net working capital. Net working capital is not cash but the difference between current assets (what a firm currently owns) and current liabilities (what a firm currently owes). Current assets and current liabilities are firm’s immediate sources and uses of cash, respectively. Clearly, a firm’s ability to meet its current financial obligations (bills due within a year) depends on its ability to manage its current assets and liabilities, efficiently and effectively.

Effective working capital management requires the formulation of optimal working capital policy and the periodic management of cash flows, inventories, account receivables, accruals and account payables. And because poor working capital management can severely damage a firm’s credit worthiness and limit its access to money and capital markets, every effort must be made to minimize business default risk.

The significance of liquidity cannot be overemphasized. In addition, anything that adversely impacts a firm’s financial flexibility degrades its ability to borrow and cope with unexpected financial hardship. A firm must preserve its ability to react to unexpected expenses and investment opportunities. Financial flexibility derives from a firm’s use of leverage as well as cash holdings.

In practice, optimal working capital management includes effective cash conversion cycle, effective operating cycle, the determination of appropriate level of accruals, inventories, and account payables and the attendant funding options. Working capital policy impacts a firm’s balance sheet, financial ratios (current and quick assets) and possibly credit rating. Critical to efficient firm’s working capital management is a good understanding of its cash conversion cycle, or how long it takes for a firm to convert cash invested in operations into cash received.

The cash conversion cycle captures the time passed from the beginning of the production process to collection of cash from the sale of the finished products. Typically, a firm purchases raw materials and creates products. These products go into inventory and then are sold on account. Once the products are sold often on credit then the firm waits to receive payment, at which point the process begins again. Understanding the cash conversion cycle and the age of account receivables is critical to successful working capital management.

As you know, the cash conversion cycle is divided into three parts: the average payment period, the average collection period and the average age of inventory. The firm’s operating cycle is length of time from the receipt of raw materials to the collection of payment for the products sold on account. The operating cycle is therefore the sum of the inventory conversion period (the average time between when raw materials are received into inventory and product is sold) and the receivables conversion period (the average time between a sale and collection of the receipt). Note that the operations of a merchandising enterprise involves purchasing (the purchase of merchandise), sales (the sales of products to customers, and collection (the receipt of cash from customers).

Some Operational Guidance:

There is gathering empirical evidence suggesting that effective working capital management begins with assessment of operating cycle and optimizing cash flows from firm’s operations. Management must know, understand and anticipate the impact of cash flows on firm’s operations and its ability to maximize the profit producing capacity of the enterprise. Effective cash management is critical to the success of a business enterprise. It is all about cash flows.

One of the best ways to increase cash availability is to accelerate the receipt of incoming payments by reducing the age of account receivables using appropriate mix of incentives and penalties. A firm must evaluate current payment processes and identify effective options to expedite collection of account receivables.

There is strong evidence suggesting improving payment processes and moving to electronic alternatives will maximize liquidity and better manage costs of receivables. Liquidity is critical to the success of every business enterprise and effective cash management is the core of liquidity. In practice, a careful analysis of cash flows and assessment of investment strategies and policies is required to ensure that a firm has appropriate tools needed to maximize firm’s liquidity, and optimize cash flow management.

A firm optimizes cash flow management in its operating cycle by rationalizing-streamlining and improving the ways it manages the inflow of cash receipts, makes outflow cash payments and minimizes the age of account receivables. A firm needs digital records, electronic banking, robust internal controls and agile accounting systems for quick reconciliation of bank statements through timely access to bank accounts, customer records; and synchronizing cash flows, accounts payables, and accounting systems for increased efficiency.

Best industry practices include analyzing cash flows monthly to determine ending cash balance (the difference between total cash inflows and total cash outflows). The goal is a rising or positive periodic ending cash balance; Monitoring customer balances to manage account receivables (money owed to the firm from customers); and appropriate pre-qualifying processes before extending credit to customers is essential to minimizing incidence of bad debts.

A tracking system that monitors outstanding receivables and sends automatic reminders, invoices and statements is a useful tool. Some firms use factors by selling their receivables to factoring companies to ensure steady cash flows; Slowing down cash disbursements: Prudent cash flow management dictates that a firm retains cash as long as possible. Optimize cash flow management by paying on time while utilizing all accommodations consistent with the calculus of financial advantage. Finally, borrow long and lend short and time large expenses by setting aside small amounts to fund large expected expenditures. Always remember that long term liabilities become current liabilities in the accounting period in which they mature.

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Source by James Gaius Ibe

Views: 0

January 29, 2020
PC Speed Doctor Review – How to Optimise Your Computer for Speed

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Are you currently unhappy with the pace of your personal computer? Is it not functioning as quickly as the first day you had it?

Alas this situation happens to be an all too very common problem. It can result in unnecessary stress, hamper your productiveness and even result in your PC to freeze and lose your entire work. Thankfully though it does not have to be like this and there are various methods of getting back the performance of your personal machine.

The most common suggestions from analysts is to defrag your personal machine and then to carry out a computer speed test to determine exactly where the issue lies. A good computer speed test gives you figures, which is fantastic if you are a technically capable but won't assist the normal individual who just would like to get their personal computer fixed.

So how can you fix the issues afflicting your personal machine? What software or service do you need?

To begin with you'll need a tool which can comprehensively identify the issue then recommend possible solutions to overcome these issues. PC Speed Doctor is one such all-in-one tool and has been designed to increase the overall performance, internet speed and output of virtually any computer with just a few simple mouse clicks. There are several computer speed optimization software available on the market, however PC Speed Doctor is different from its challengers in that it's straightforward to use and just simply works!

The product stands up tall to all of the promises it offers. Where the majority of optimization programs only scan the surface of your computer, PC Speed Doctor carries out a powerful intense deep scan which gets to the cause of the problems and then undertakes any necessary steps to overcome the problems. It also optimises your personal computer to give you a machine which is as quick as the day you got it.

PC Speed Doctor also increases your web browsing by performing a computer speed test that discovers all likely bottlenecks that will affect your web experience. Not many other products and solutions check internet speed, but with this tool it can detect the issues and solve them effortlessly. PC Speed Doctor has been critically recommended by industry gurus and buyers world-wide.

Reading user reviews are essential in every purchase and this tool does not get it wrong in receiving thumbs up reviews to its recognition from experts within the compug industry. As well as exceptional evaluations there are numerous recognized instances when people have noted that their PCs are running faster and more optimally.

Cost is also an important consideration in any product purchase and PC Speed Doctor does not fall short here either. It can be downloaded completely Free Today. This will help you scan your computer and determine many of the problems that are affecting your computer. Buy the affordable paid model to mend every one of these things and reinstate your PC to its former glory.

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Source by Arif Hanid

Views: 0

January 29, 2020
What’s The Difference Between Direct Sales And Network Marketing?

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My purpose and commitment is to really help you understand and appreciate the MLM industry. One of the things you need to know when shopping for a business opportunity that is built on the multi-level marketing format, is not only how these businesses work but which one will compliment your skill set, personality and area of expertise.

The Difference Between Direct Sales and Network Marketing

Direct Sales and Network Marketing are both based on the multilevel marketing business model. MLM or Multilevel simply refers to the business structure in which the compensation plan is mapped out. The Direct selling and Network marketing vehicle is the actual distribution system or the way the products are dispersed.

With Direct Selling, the emphasis is usually on direct, person-to person product distribution, which typically involves the independent sales representatives earning a commission from the products that they sell directly to the customers.

The usual way of getting their products out to the masses or finding customers is by hosting product parties, trunk sales, booths and etc., by way of their circle of influence. Advancing in rank is dependent upon the volume of products sold.

In some companies you can recruit other people to hosts parties in which they would be offered a discount on the products for hosting that party and also earn free products if they sell a certain amount of merchandise.

This is important to know if happen to be a really good sales person or if you hate the thought of selling in this way, when choosing a mlm company.

Some examples of Direct Selling companies are:

Avon, Natura, Vorwerk, Herbalife and Mary Kay

Now with Network Marketing, the emphasis is on team building. Building a team of partners who are in agreement to use the company products in their household as well as share products with others outside of their network.

You are basically the customer as well as the business owner and you are able to sponsor, support and train others who want to build a business of their own. So the importance here is on building an organization of like minded individuals who use and move product within and outside their network.

In network marketing, you also have the flexibility to host product parties or have a booth, etc., in order to promote your products if you so choose. You are the business owner, not just a sales representative so you have the power to run your business as you see fit.

This model is a great if you love networking, team building and training others.

Some examples of Network Marketing companies are:

Sisel International, Vemma, Amway and Visulas.

Some direct sales companies also incorporate the network marketing team building model as well depending on the compensation structure, so make sure to do your research.

Understand that the purpose of both models is product distribution, but, it’s the way the distribution happens and the way you, the marketer, gets compensated, that makes the difference.

On a side note, steer clear of companies that don’t have a product OR they have a limited product line that offers little to no value to the public.

End the end, the difference between direct sales and network marketing is fairly minimal. Both serve as an opportunity for the ordinary individual to build their own business, delivering quality products to the masses in a less expensive and more personal way.

By eliminating the middle men; expensive advertisers and merchandisers, the network marketer and direct seller can create residual/ passive income from home with less time, less money and less hassle than the traditional business model.

So Tell Me…

Have you ever owned a network marketing or direct sales business?

What did you like or dislike about it?

Did you find it too challenging? If so, tell me why.

I would love to hear from you!

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Source by April Ray

Views: 0

January 29, 2020
Make Dry Ice Blasting Your Small Business Opportunity

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What is dry ice blasting? Dry ice blasting is a form of abrasive blasting industrial cleaning that uses a solid form of carbon dioxide known as dry ice. Pellets or ice is shot through pressurized air stream of either one hose or two hose machines.

Which system is best? Most systems today are the single hose technology. Technology using the single hose was created by the Cold Jet company in 1986. One advantage of the single hose system is that it avoids the possible dangers of a pressurized hopper by the use of a quick cycle airlock. Another advantage of the single hose system is that it has more power and you can use a longer hose.

Making massive money! There are many ways to make money cleaning with dry ice. Many people prefer dry ice blasting for paint removal, because it is less harsh than sand blasting. Another great business opportunity is to clean food processing equipment. Because it can decontaminate surfaces that could contain salmonella and e. Coli. Dry ice can clean without residue so the environmental protection agency prefers it to many kinds of solvent based cleaners. The aerospace industry also uses dry ice blasting to sensitive equipment like clean semiconductors. Manufacturers are also a great business opportunity because cleaning with cold can be used for maintaining their equipment and can drastically reduce their down time.

The freeze jet is just one of several different types of dry ice blasting equipment. For around $3,000 you can usually purchase a dry ice blasting machine.

What about safety? How safe is this type of industrial cleaning? Cleaning with cold (normal pressure is -78 c(-108 f) can be toxic if the concentration is over 1%. Asphyxia can be caused because of oxygen removal so dry ice must be used in a well ventilated area.

Safety Equipment: Typical safety equipment will include a positive pressure blast hood or helmet. Air hoses are attached to a grade D pressurized air supply, which is mandated by Occupational Safety and Health Administration (OSHA). Also using ear plugs for hearing protection is part of the usual safety equipment. Body protection usually includes gloves and overalls as well as a leather coat and chaps.

What fees can I charge? How much money can I make in this industrial cleaning business? Total typical fees can range in the $300.00 per hour range, so it can be one of the more lucrative types of industrial cleaning.

The Benefits of Dry Ice Blasting: This type of industrial Cleaning meets EPA, USDA, and FDA guidelines. Has less clean up of the waste material. Extends the life of the equipment. Cleans more thoroughly. Reduces or eliminates equipment damage. Provides a safer cleaning environment. Is Non-polluting and environmental friendly. Can destroy and eliminate bacterial and fungal growth.

How can I get started? You can get started with your small business by beginning with a business plan. A business plan is a formal statement of business goals, reasons they are attainable, and plans for reaching them. It may also contain background information about the organization or team attempting to reach those goals. It should also contain a good marketing plan. Then apply for small business government grants or small business loans, so you can purchase equipment.

Having your own business can help you to end money worries. Having a business plan is essential to having a successful small business. Knowing how to market your small business for little or no money is an important key to your business success as well. Imagine how much more profit you can have when you don’t have to budget much on advertising.

Get colossal cash from government contracts. Companies interested in selling their products and services to the federal government (the United States General Services Administration) can prepare by fulfilling applicable requirements, and registering in the appropriate systems. Companies may also participate by seeking sub-contracting opportunities with current contract holders. The General Services Administration provides and contracts for Billions of dollars’ worth of products and services for federal agencies.

In summary dry ice blasting can be an extremely profitable business and helps with the environment as well.

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Source by Brian Mahoney

Views: 0

January 28, 2020
Warning Regarding Holly Mann’s Honest Riches

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I like Holly Mann’s E-book on how to make money online and if I had to go back in time and buy it again, I would. Or … okay, I admit it. I absolutely love her book.

So why am I writing a warning?

First of all, you might be wondering what I’m talking about. Who is Holly, and what E-book?

Holly Mann is a single mom and a retired “disabled” army veteran in her mid twenties. (I have no idea what her disability is, she looks pretty healthy and strong to me and you should see her as a contortionist!) She is an American living in Thailand with her toddler son, Josh.

On her website she tells the story about how she went from $0.00 to $12,000 per month in online income. In other words, she started from virtually nothing but now she makes a killing online, working from home.

Holly wrote an E-book which teaches anyone how to work at from home to make money on the Internet. This is something that even the complete beginner can understand. When I first read it, I was completely clueless – not only about how to make money online, but on the Internet in general. I didn’t even really know what a website was.

If you have heard of the “Rich Jerk” you may have heard of Holly. Holly originally read the Rich Jerk’s E-book, but then wrote her own, under the motto to “No thank you Rich Jerk – Honest Riches!” Holly promotes honest and ethical ways to make money online which are successful and also helpful to others. In other words, she teaches you to earn money by providing services and products to people that will help them. She doesn’t teach you to fool people out of their money. People who operate this way always win out in the end.

The money-back guarantee and the low price of her E-book is one reason why it is very easy to buy her E-Book and try out what she teaches.

Holly is also human.

Holly’s E-book teaches the complete beginner how to make money online. It includes methods on how to make money with no start-up cash, how to earn money by promoting other people’s products, how to use advertisement to earn money on your own website or blog (and even how to do it for free), how to write and submit articles which will result in online income, how to create your first website, and a lot more. Her E-book is also full of links to websites and software which will save you hundreds of hours in getting off the launching pad. And she throws in plenty of free bonuses.

So what’s the warning?

Well, when I first wrote this article (years ago) there were two points in her E-Book where she suggested methods of making money online that had been workable when she wrote them. But times had changed slightly so there were a couple of points I thought people should know.

However, by now Holly’s E-Book has been revised and even those points are clarified extremely well.

So there is no warning. In fact, I have recently reviewed the 2008 edition of Holly’s E-Book. It is not released yet but Holly sent it to me in an email.

It is a virtual treasure. (By the way, the price will go up when she released the new version, probably in mid-August 2008. But if you buy the current version at the current lower price, you will get a copy of the 2008 version for free when it arrives.)

Holly’s 2008 Honest Riches III contains 277 pages of very easy to read information. Everything you need to know about Internet Marketing is covered. And what makes Holly stand out from the crowd is that she uses such simple terms and explains things so clearly, that anyone can understand it. I found simple explanations of concepts that I had been searching for for ages.

She also explains everything that is vital in making money online so that you will be clear-headed in taking every step you need to take, without wasting your time in confusion and blunders. Holly gives you the step-by-step instructions and procedures to take so that you can start making money online and reaching your goals.

If there is only one thing you ever purchase to help you learn to earn your living (and more) online, I can honestly say, without a doubt that it is this E-Book. As a rule, I do not promote products in the field of Internet Marketing that I have not used and loved. There is just too much low-quality (or worse) garbage out there.

I have heard some people ask if Holly is a real person. Holly is a friend of mine. I have taught her to write poetry.

One of the things that makes her stand out from the crowd is her willingness to help people. Time and again, you see her going out of her way to give extra assistance and advice to people who want to succeed in making money online.

All said, Holly’s E-book is still the best I know of, for teaching the complete beginner how to make money online.

If there were only one purchase I could make in that field, it would be Holly’s E-book. And without it, I would still be swimming in confusion, or would have given up long ago.

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Source by Anna Vera Williams

Views: 0

January 28, 2020
Customer Trust and Loyalty

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Customer trust is a precondition for prosperity. Yet, most businesses…

o Act as if customer trust develops because the business believes it is honest.

o Build only a shallow type of trust that does not lead to profitable relationships and loyalty.

o Have no strategy to build the type of trust where customers increasingly value the relationship.

Now is an excellent time to aggressively and systematically work at building customer trust. Virtually all businesses have been tainted by the general rise in societal distrust of companies.

o A recent Datamonitor study of consumers in the USA and Europe found that 86% are less trusting of companies than they were five years ago.

o 80% of people stop buying products or services from companies when their trustworthiness comes into question (Edelman 2005 Trust Barometer)

o People spread distrust to friends and associates, the people we trust most.

o Over 33% who lose trust in a company, openly campaign against that company on the Internet.

The Datamonitor and Edelman research demonstrates that it goes beyond a few isolated cases. Furthermore, according to a Yankelovich study, more than two-thirds of people don’t believe advertisers and marketing. They see it as self-serving distortions.

Customers want to do business with companies they trust but, don’t know who to trust. Therefore, companies that proactively demonstrate trustworthiness stand to gain a tremendous source of competitive differentiation.

What is trust and why is it important to customer relationships? Webster gives two definitions of trust that help separate the wheat from the chaff.

1. firm belief or confidence in the honesty, integrity, reliability, justice of another person or thing.

2. confident expectation, anticipation, or hope; as in trust in the future.

Most companies believe they are trustworthy but only measure up to the first definition. They want to be known as a company that is honest, reliable and fair. They expect their products live up to expectations and when they don’t they think they treat customers equitably.

Do you think your company measures up? If you say yes, ask yourself what you proactively do to build this trust. Many companies have no deliberate strategy.

If you have a deliberate strategy, now might be a good time to question how well it is working. As mentioned above, Yankelovich’s research shows that most customers don’t believe your marketing and advertising. And, the Edelman Trust Barometer concluded that when looking for a credible source of information on a company or product, CEO’s, employees, public relations people and celebrities rank in the bottom half.

Measuring up to the first definition of trust is essential to sustainable and profitable customer relationships. However, even if customers believe your company is honest, reliable and fair, this is no guarantee they will be loyal and profitable. To garner commitment, profitability and high lifetime value, a company must measure up to Webster’s second definition as well.

Businesses that meet the first definition but not the second, run into the Satisficing Trust Barrier. Satisficing trust is the trust that allows a customer to feel comfortable in buying products or services from a company. It is a sense of confidence that the company will stand behind the product. It is sufficient trust to purchase a well-defined product, a commodity. In a world of abundance and overwhelming choice, satisficing trust does not insure repeat business. Customers buy commodities that offer the best trade-off between satisficing trust, price and convenience. Some companies become complacent because they feel they offer the best combination of the three. Unfortunately for them, all it takes to lose customers is for a competitor to create the perception of a better deal. No real relationship value has been accrued by the company who wins business this way.

The operative words in the second definition of trust are “hope” and “trust in the future.” Many purchases these days are not commodities; they are not well defined and may not have a track record. To make these types of purchases the customer must take a “leap-of-faith,” and this requires trust. In this type of trust the customer must believe that the vendor company is truly interested in a win-win relationship. That is, they are interested a long-term relationship where both parties benefit. This type of trust grows out of experience with a company demonstrating a real commitment to win-win. Since virtually all customers have been “burned,” companies often have to subjugate their short-term interests to stimulate the development of faithful trust.

Customer want to build relationships that help them more confidently make “leap-of-faith” decisions. Being able to rely on this trust helps them simplify things in an increasingly complex world. When this happens, trust in the relationship becomes more important to customers than price and convenience. It starts with “hopeful trust.” Customers want the best for themselves. They want to adapt and to embrace change, and they will place extremely high value in relationships that help. Customers are on the lookout for signs from companies that their “hopeful trust” will be well placed. But this “hopeful trust” is just a test. If experience demonstrates that trust in the relationships is justified, faithful trust will emerge.

When trust morphs from “hopeful” to “faithful,” a very significant twist occurs. The main concern of customers shifts from price and utility to the seeking of advice and guidance. When price is an issue, customers withhold information. When they seek guidance, they openly share. “Faithful trust” enables this openness. It also enables both parties to prosper and builds a basis for co-adaptation, now and in the future.

The trustworthy company gets the immediate sale, but they get much more. Snafus or mistakes that might have once terminated a relationship are now overlooked for the sake of the relationship. Customers become turbocharged advocates. They don’t merely tell others what you sell; they vouch for you and the relationship value you deliver. They come to depend on your business and, as a consequence, they want you to thrive.

The real-life story of Billy Blue, a men’s clothier in San Francisco illustrates the power of fully trusting relationships. Billy Blue’s thriving business took a nose dive during the dot.com crash. The downturn was so severe its owner, Billy Bragman, considered closing his doors. Instead, he wrote his customers a letter explaining the situation and asked them to buy more clothes. Even though many of his customers had their own business “trial and tribulations,” they increased their clothes purchases. One guy sent a check for $2,500 with a note saying, “You know what I like; just send me some new clothes.” Billy Blue customers could easily have turned to other men’s stores but they chose to support Billy Blue. They valued their relationship with Billy Blue and didn’t want it to go out of business.

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Source by John Todor

Views: 0

January 27, 2020
Make Money Through Internet Entrepreneurship

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There are many opportunities in internet entrepreneurship that anyone can utilize to make more money. You can be a laptop entrepreneur where you use your laptop anywhere to do business online at your own pace. This entrepreneurship is flexible and, if utilized efficiently, can enable one to make more money online.

You can be an expat in another country and still earn money through internet entrepreneurship. You can go anywhere in the world and still do business online as a laptop entrepreneur. The profession is flexible and offers many options. However, it is not for the faint-hearted. Building a brand name on the internet does not happen overnight. It needs someone who is persistent to succeed. Competition is fierce and, therefore, needs one to put more efforts to success online.

As a laptop entrepreneur, you can choose to do internet marketing, email marketing, social media marketing, web designing, web development, customer support management, article writing, blogging, and programmer, to mention just a few among hundreds of options. There are vast opportunities in these professions while working online at your own pace. However, you need to build your name before you can have a comfort zone of working from home.

There is a growing demand of web designers online because big companies want an optimal online presence. They want to compete online because there is a large customer base on the internet. Whoever helps these companies to rank high in search engines can get sufficient income. Once you do a good job then many companies will come for your services as a laptop entrepreneur. Your channels will widen and thus making living good for you.

A laptop entrepreneur who specializes in search engine optimization is also in high demand. Many websites need search engine optimization in order to increase their visibility online. Therefore, someone who excels in SEO can earn a lot of money just by working through internet entrepreneurship. Big and medium-sized companies are willing to cash-out on laptop entrepreneurs who can give them positive results. There is a plethora of opportunities on internet entrepreneurship.

The other growing trend is seen in internet marketing. Everything is about gaining more traffic online. Companies are willing to pay internet marketers who can help promote their products to a lager customer base online. Opportunities are vast for a laptop entrepreneur. The profession is for someone who enjoys working alone and taking risks associated with internet entrepreneurship. A determined, committed, self-motivated, and self-disciplined person can survive in an online business and, therefore, make more money.

Article writing and blogging are also good channels to follow as a laptop entrepreneur who wants to maximize earnings online. They are also a form of marketing and generating traffic to websites. There are opportunities for laptop entrepreneurs.

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Source by Corey Ferreira

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January 27, 2020