Business

Are you using this effective marketing tool?

2016May3_BusinessIntelligence_CThere are many marketing techniques SMBs use to gain clients. Free information products, brochures, and press releases are just a few among many. But how do you know what’s most effective? It all comes down to looking at data and seeing for yourself what’s worked before. We’ve gone through the trouble of doing just that, so you can see how one age-old marketing technique can give a big boost to your business.

What is one thing every consumer has in common? They all love to save money. This is why the marketing technique of offering coupons is still as effective today as it was decades ago. Shocked? Don’t believe this is true? Well, let’s explore some statistics.

A recent report by Valassis, a large marketing firm that serves clients across the globe, provided some enlightening information on the effectiveness of coupons. Here’s what they discovered in terms of how coupons influence consumers.

  • 82% of all consumers are more likely to buy from a brand they wouldn’t normally because of a coupon
  • 85% are influenced to try a new product because of a coupon
  • 84% are more likely to switch brands because of the weekly specials on offer
  • 24% choose to shop at another brand’s store over their preferred because of better advertised bargains

This same report also uncovers some interesting data about brand loyalists, revealing that 78% are more likely to buy from a brand they wouldn’t normally patronize, due to a coupon. While this number is surprising close to the amount of total consumers influenced by coupons (as mentioned in the first bullet point above) this next bit of data may come as more of a surprise: 43% of brand loyalists have a more positive view of a company that offers coupons over those who don’t.

While this recent report goes a long way to revealing the benefits of coupons, how do they compare to another common marketing offer used today: free information products?

The appeal of coupons over information products

According to one marketing firm based in Waterford, Connecticut, a coupon was chosen 9 out of 10 times over an ebook when offered simultaneously. This raises an interesting question: why would a coupon be more effective than a free ebook or other information product? Let’s look at some common psychology triggers at play here.

Broad appeal – simply put, coupons have mass appeal. While information products are likely to be seen as more valuable to those with a higher education, a coupon can appeal to all income brackets – from the very wealthy to the very poor.

Instant value – to gain results from an information product requires a time investment and action. For example, if a customer receives a free 30 page ebook that explains how to get the best discounts on electronic equipment, he or she needs to read the book and then take action (and possibly create a plan) to gain the rewards of that time investment. Many consumers would rather spend their time doing something else, but a coupon on the other hand offers immediate value. Simply hand it over to the service provider, and you save money instantly. What’s not to love about that?

Uniqueness – the online marketplace is flooded with free information products. While they’re still an effective tool to gain a prospect’s email address, far fewer businesses offer coupons on their website, especially in the small business sector. By offering a coupon, you provide a free offer that immediately separates you from the pack.

The point here is that just because a marketing tool is popular doesn’t mean it’s the most effective. This is why we encourage you to review data and statistics before implementing any marketing technique in your business. It can save you a whole lot of time and also make your business stand out.

Want more valuable business information that can help you connect better with your customers? Curious to learn how IT can help collect data more easily? Call us today to find out more.

Published with permission from TechAdvisory.org. Source.

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Boost staff productivity with mobile tech

2016Apr18_Productivity_CMost business owners are quick to think that utilizing mobile devices automatically leads to more productivity. Unfortunately, this is not always true. A poor mobile device policy can actually lead to burnout and see your employees become overwhelmed by technology. Here’s how to avoid these pitfalls and get the most out of mobile devices in the workplace.

Use the right tool

Some work tasks just aren’t cut out for mobile use. While using a mobile phone or tablet to send emails is an effective way to work on the go, trying to write long form reports on these same devices is a bad idea. As a general guideline, small tasks such as email, viewing documents, using search engines and project management apps are good for mobile work. Anything that is too detailed is probably better suited for a computer or laptop. Lastly, only train your employees to use and learn the mobile devices and programs that make sense for their role. If you want them to be most efficient, you don’t want to overwhelm them with every mobile tool your business uses.

Communicate face-to-face

Email is undoubtedly a valuable communication tool. But it’s also become the bane of existence for many of today’s employees and business owners. Too many emails kills your employees productivity, overwhelming them. And unfortunately, many times email is simply unnecessary. Instead of sending that email about a question concerning an upcoming meeting, simply go and ask in-person. You’ll likely get a response much quicker and you avoid adding yet another message to the email overflow.

Consider adding a face-first policy in your office. This means that every time your employees consider writing an email, they should question if it’s easier to just go talk with that person directly. If that person is located a quick walk away, then the conversation should take place in-person. This especially makes sense if your employee needs an answer within a few hours, as sometimes emails go unanswered for much longer than this. By enforcing an email policy, your employees’ inboxes are less likely to be overflowing and your communication will take place in a more timely manner.

Set boundaries

There’s no question that mobile tech can help productivity, but it can also hinder it. The problem is that many employees who utilize it have difficulty “switching off”. The lines between work and personal life begin to blur as completing work tasks is always right at their fingertips. While on the surface more work output from your employees may sound like a good thing, in reality it’s far from it. Being “always on” can quickly lead to burnout. And even if it doesn’t, if your employees don’t take time to break and recharge, their productivity will suffer. To demonstrate just how many employees fall into this trap of overworking, the 2015 Staples Business Advantage Workplace Index surveyed 2,602 employees and found that a quarter of them regularly worked after standard business hours, and four out of ten worked on at least one weekend a month.

So how can you resolve this issue as an employer? Simply set boundaries. Create time frames for when work platforms and applications can be utilized and for when emails can be sent and responded to. Also, don’t encourage employees to work on off-hours by sending emails during the weekend. If your concern isn’t urgent, then by all means wait till Monday to send it out.

Be flexible

While it may sound a bit contradictory to the last point, being flexible in your work policy can be a smart decision to boost productivity. By being flexible, we mean the ability for your employees to work at hours and locations of their choosing. Most people work better and quicker at certain hours as they are more focused at specific times of the day. And some people will work better remotely than they do at an office space as there can be less distractions. The Staples survey supported this fact as 59% of the employees surveyed said that flexible schedules had a positive effect on productivity.

Cloud tools like Office 365 and Google Apps can help encourage a flexible workplace. But regardless of how flexible your office becomes, be conscious that parameters on work, mentioned in the last section, should still be in place to prevent employee burnout.

Mobile devices in the workplace can go a long way towards making your business more efficient and employees happy. If you’d like to learn more about utilizing mobile devices in the workplace or how you can leverage technology to make your business more productive, call us today.

Published with permission from TechAdvisory.org. Source.

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How to calculate your technology ROI

2016Apr4_BusinessValue_CWhen purchasing new technology, how often do you consider its return on investment? For many business owners, calculating ROI is a tricky task that is sometimes skipped altogether. It shouldn’t be because if IT isn’t saving you money, it’s costing you. Here’s how you can gain a better understanding of technology ROI and how you can calculate it in your business.

ROI basics

What does it mean to have a positive return on investment? It’s pretty simple. A positive ROI means the results a technology produces are greater than or equal to the amount of time and money invested. Obviously you want a positive ROI, but when is the right time to consider it? Should it be before or after you make a technology purchase? The answer is both. Before purchasing, you want to carefully consider whether a technology service or product is worth your money. Then months after you’ve implemented it, you should analyze whether or not you made a good investment. Doing this enables you to learn from your mistakes (if you made one) and make a wiser technology purchase next time.

Also, don’t forget to look at your technology currently in use. Ask yourself, is your technology simply keeping the lights on? Or is it providing a solid foundation for your business to grow? If the answer is the former, there are likely better options out there worth trying.

How to calculate ROI

When calculating ROI, it doesn’t have to be perfect. Here is a simple formula to get you started.

ROI = net gain/cost
Example: You spend $100 and make $150. Your net gain is $50
ROI = 50/100 = 50%

If you’ve yet to purchase a service or new equipment, you obviously don’t know how much profit it will generate. So you’ll have to do a bit of guesswork and estimation. It’s also important to consider some intangibles. Think about the productivity costs of staff time, disruption, and frustration (because most of us don’t work effectively when frustrated). Let’s take staff time for example. How much time will your staff save if you implement a Managed Services solution? With your employees no longer having to put out IT fires daily, what if your entire staff saves 50 hours a week because of it? How much does that add up to in saved salary expense? It’s important here not just to think about the savings in time, but also what your staff could be doing with those extra 50 hours. They could put those hours towards marketing or growing your business. And that alone could make up for the costs of the technology investment itself.

Intangibles don’t just apply to saving time, frustration and disruptions, but also the costs of implementing the new technology. For example, how much time will be required to train your staff on the new technology? What’s the cost of that? Also, how much time will it take to migrate from your old system to the new one? You should consider all of these when estimating your ROI.

Lastly, don’t forget to consider the unique circumstance of subscription purchases. Since you are usually paying these on a monthly basis, it can be a bit tricky to add up real costs. That’s why it’s important to use a timeline for these. For example, if you subscribe to software as a service, what’s the cost of that plan over the course of one year or five? How much money will you save over that time span?

What’s the benefit?

Besides the staffing example mentioned above, consider how a technology investment can create new revenue streams. For example, an investment in VoIP opens up an opportunity to offer video consulting to clients in parts of the country (or even world) that would normally be out of reach. This obviously leads to a new revenue stream and increased profits. So ask yourself, can the technology you’re considering create new revenue streams?

Next steps

Before making a technology purchase, it’s wise to talk with both management and end users about your decision. If you fail to consult your end users before implementation, they may disagree with your decision and therefore take longer to adapt or even rebel against it. Checking with them beforehand gives them a chance to offer valuable feedback on how it will be used in the trenches, and will get them onboard with the technology if you implement it. As for your management team, they can be a valuable resource to bounce ideas off of and gain insights about the technology you may have overlooked.

Lastly, ROI does not need to be calculated for every purchase. If you need to buy something small, like a new keyboard, just go and buy it. Save your ROI calculations for much larger investments that can have a dramatic impact on your business.

If you need help determining the ROI of a potential technology investment, feel free to give us a call for a chat. Our experts can help you determine the true benefits of a given technology and help you make a wise investment.

Published with permission from TechAdvisory.org. Source.

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Disaster Recovery myths that no longer apply

2016Mar21_BusinessContinuity_CWith technology changing so rapidly, it’s easy to get caught up in outdated beliefs. And when it comes to Disaster Recovery, far too often do we see business owners still clinging to ideas that no longer apply. So, what kind of DR myths are still widely accepted by the masses? Here are three that need to be retired into IT folklore.

Tape Backups are the best DR solution

Like a car, computer or television, tape is a physical object that deteriorates over time. Don’t believe us? Go ahead and listen to your favorite cassette. One day your tape backups will become distorted and no longer work. And hopefully, that day isn’t the same one when your business suffers a disaster. However, there is a good chance all your tape backups will work. So does that mean there’s nothing to worry about? Well, consider where you store your tape backups. Are they on-site or in a location within a few miles of your office? If so, remember that if your business is hit by a natural disaster, chances are those tapes nearby will be hit as well. And if they’re damaged or become inaccessible, say goodbye to your business continuity.

While tape backup is better than nothing, many of today’s DR providers will backup your data to an offsite location that is far away from the neighborhood your office is at. That way, if your business is affected by a disaster, your backup is located hundreds of miles away in a safe place that is likely untouched.

It’s also worth noting that modern day DR solutions also provide another valuable commodity – time. So ask yourself, is the mindless task of backing up tapes really worth the time of your IT staff? Wouldn’t you rather have them working on more valuable tasks that require a skill? Today’s DR service providers eliminate this need, as they take care of nearly everything. You or your staff will never have to bother with it.

The RTO you want will be too expensive

Recovery Time Objective (RTO) is of primary importance to most business owners. And who can blame them. If you’re going to invest in a Disaster Recovery solution, you want to be able to rely on it to recover quickly (on a timetable that won’t damage your business). In the old days before the cloud, a quick recovery time could cost you well into six figures. Today, tools such as the cloud and virtualization have made this much more affordable, and faster than ever. Most DR providers can backup all your critical data in a matter of minutes. And if you ever need to recover it, most services can do so in hours, rather than days. That’s the power of the cloud. And when it comes to DR, it truly has changed everything.

Disaster Recovery is for big business, not SMBs

Well, it once was. Again, the cloud has really leveled the playing field. And it is making a truly valuable service accessible to businesses of all sizes. From dental offices to small retail operations, SMBs can now easily take advantage of the best DR solutions on market, as the barriers of complexity, costs, and insufficient IT resources no longer apply. Modern IT advances and the cloud have eliminated these obstacles.

We hope these three myths will help you see how Disaster Recovery is more affordable and efficient than ever. If you’d like to learn how our DR solutions can safeguard your business, send us a message. We’re happy to fill you in.

Published with permission from TechAdvisory.org. Source.

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BI is not just for the big boys

2016JMar10_BusinessIntelligence_CMost of us don’t normally associate Business Intelligence (BI) with small- or medium-sized businesses; the large investment that has traditionally been required to hire specialist data-delving experts makes us think it’s the preserve of larger organizations. But no longer is that the case – not only does a growing selection of self-service tools put BI within reach of smaller companies, but you probably create and hold more data than you realize, which makes it easier to get going. Dispel these false beliefs about BI and get started harnessing the data that will make it easier for your small business to make more strategic decisions.

You’ve already got the data you need

It’s easy to underestimate the amount of data your small- or medium-sized business already has at its disposal. In every area of your business from finance and sales to customer relations and website management, the software packages you use to simplify your everyday operations are packed with reams of information that most of us don’t even think twice about. By talking to key stakeholders in your organization’s various departments, you can get an idea for the kind of data you already have, how it’s generated, and where it’s stored. You’re then in a good place to begin thinking about using BI tools to transform that information into meaningful business insights that inform key decision-making – all while reducing the resources you need to invest in time-consuming data generation from scratch.

Self-service BI tools are plentiful – and affordable

The real beauty of the emergence of self-service BI is that it puts useful business analytics within reach of smaller business owners who lack the fancy-pants budgets of larger corporations. In fact, there are numerous self-service BI tools that you can use to get started in this area without even spending a dime. Microsoft Power BI is a powerful application that’s pleasingly user-friendly, and most businesses will find the functions they need in the free version. Zoho Reports has a low entry-level cost, too, and the slightly pricier yet still affordable Tableau is another option that’s worth exploring.

It’s easy to get started

BI is an intimidating term, and just the thought of delving into it can send a shiver down the spine of the average business owner. But by taking small steps, it’s easy to get started – and before you know it you’ll have the benefit of real-intelligence-based business insights that enable you to make better decisions for your organization’s long-term success. Most self-service BI tools come with built-in suggestions for reports that businesses commonly run and find useful. Other worthwhile statistics to explore include the percentage of your clients who cancel within a set period; website landing pages that generate the longest visits; your most profitable individual products or services; the days or months in which you generate your highest revenues; and which of your clients brings in the most revenue and profit.

Truly harnessing data is the future of the business world – it’s how companies like yours can make smarter decisions that increase efficiency and profitability. And self-service tools mean smaller organizations no longer need a crazy budget to be able to afford the benefits of BI in the first place. To find out more about putting in place the tools that can help make your business more intelligent, just give us a call.

Published with permission from TechAdvisory.org. Source.

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Become better with these productivity tips

2016Feb15_Productivity_CWe live in the age of distraction. If it’s not the hundredth urgent email in your inbox that blows your focus, maybe it’s your IT staff pounding on your door with another technology emergency. Whatever the circumstance, you may be tired of looking in the mirror only to see bags under your eyes from too many late nights at the office. That’s why we’ve come up with a few principles to help you become more productive in your business and life, and to hopefully help you get some sleep.

Have a single focus

When Bill Gates and Warren Buffet were asked what the single most important reason for their success in life was, both answered with a single word: focus. It is that important. When you work on one task for an extended period of time, the quality of your work is at its highest. What’s more, you’ll also finish that task in a shorter amount of time than if you had to stop and start it repeatedly due to distractions.

This principle of focus can be applied to many areas of business and life. Whether you’re writing a report, sharing time with your family, or simply reading a book for your own pleasure, the quality of that experience improves with the more uninterrupted time you dedicate to it. Now, when it comes to IT and technology, this same principle can have a tremendous impact on your business. Not only do technology distractions – such as constantly breaking computers, security breaches, and slow servers – hurt your productivity, but they also crush your spirits. How can you focus on growing your business like this? This is where an MSP comes in. They can help eliminate all IT interruptions so you get back to doing what you do best – running your business. What’s not to love about that?

Obey Parkinson’s law

If you ever pulled an all-nighter as a university student, you may be familiar with Parkinson’s law. The principle states that the time it takes to complete a task expands or shrinks depending on the time allotted for it. For example, when you were hitting the books in high school or college, you may have noticed that a few students (and maybe you were one of them) would put off an important paper or project to the last moment and still end up getting an A. While at the same time, other students would take weeks to complete the same project or paper and only manage a B. So how did this happen? This peculiar phenomenon is the magic of Parkinson’s law at work. When you have less time to work on a project, you focus only on the important aspects of it. Oftentimes this is all you need to do a good job.

So whether it’s a company meeting or the amount of time you put towards researching your next vacation, apply Parkinson’s law to increase everyone’s focus and ensure you’re not wasting valuable time on the task. As for your IT, give your in-house staff a reasonable, yet specific amount of time, to complete a task. This will ensure they finish the job in a timely manner, and then move on to other projects. Alternatively, you can simply outsource all of your IT to an MSP for a single, flat monthly fee, and never have to worry about it to begin with.

Use technology to become superhuman

As human beings, technology enables us to become more than we could have ever dreamed of. Apps like Evernote can enable us to remember every valuable piece of information we encounter. Cloud technology can bring a remote workforce scattered around the country together so they can work on the same project simultaneously. VoIP gives you the ability to video-chat with business partners, loved ones, and friends while they’re as far off as Bangkok or Baghdad. Technology is reshaping not only the business world, but also the life of every individual on the planet. So when it comes to your own business, is your company going to take advantage?

We hope that these productivity tips will help improve your life in and outside of the office. If you’d like to know more about how IT can transform your business, to make it more efficient and profitable, give us a call today.

Published with permission from TechAdvisory.org. Source.

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LinkedIn tips for the SMB

2016Feb12_BusinessValue_CAs a small business owner, you may be a bit perplexed how to gain the most value out of LinkedIn. You may have already spent countless hours trying to leverage the platform with little success. So what are you doing wrong? And how can you make the most out of your time on the platform? Here are a few tactics any SMB can follow to gain more value from LinkedIn.

Know LinkedIn’s purpose

Simply put, LinkedIn is not a content marketing platform. Yes, people do publish articles and posts, but if you have a small budget and are short on time, you will get more bang for your buck on social media networks that are more content marketing friendly. For example, Pinterest, Instagram, Facebook and Twitter are all far better options in this scenario. Many users are on these platforms to view content in one form or another. On LinkedIn, content can undoubtedly be viewed, but people are primarily there to make connections. Of course that doesn’t mean you shouldn’t post an occasional article on LinkedIn. It just means don’t make it the main source of your content marketing efforts.

Another way businesses misconceive LinkedIn is in terms of lead generation. Basically, you shouldn’t expect your LinkedIn page to generate a large amount of leads. As an SMB, your marketing budget is limited, so you’ll be better off using your advertising budget to drive leads to your actual website or even a Facebook business page. Your LinkedIn business page should be used instead to validate your experience, credentials, and professionalism. With that said, make sure your page is polished and updated with all this information.

Double down on business trips

We all know that LinkedIn is a great platform to connect with business colleagues. If you’re active on the platform, you likely have hundreds of connections. So when you make that next business trip, why not tap your network to book additional meetings in the city you’re traveling to? Ask yourself, which of your connections could help you extend your sales in that region or benefit your business in some other way? You don’t have to stick to business colleagues you know personally. You can create valuable new relationships by tapping your current LinkedIn network. To do this, search first and second degree connections using the geographic search option, and filter your results to job titles, industry, and company size of your ideal prospect. Once you’ve found potential contacts, see if you can get an introduction from one of your first connections, or simply InMail them and reach out yourself.

Your page is about your business—not you

A very common small business mistake on LinkedIn is making your company page about you, not your business. You may mistakenly create this page like your personal profile, listing accolades and job experience. What you should really be focusing on, however, is something much bigger: the story of your business or brand. A story will help engage your prospects, creating an impression in their minds, and also give you an opportunity to touch on the value your business provides to customers. Your profile should also include some of the top brands your business has helped. If one of your clients is Target, The Gap, Whole Foods or another big name, make sure to mention it, as it proves your credibility as a business or service provider.

Find talented hires

While big companies have the budget and time to post job openings on LinkedIn, as an SMB, there’s a good chance you’re lacking both. Fortunately, there’s an alternative way to find top talent on LinkedIn. Simply search for them yourself.

Before you get started, you need to know exactly what kind of hire you’re looking for. Think about people you already know who would be perfect for the job. While you may not have the ability or budget to hire them, look them up on LinkedIn and see their career path. What kind of roles did this person previously have? What kind of experience did he or she have before their current position? With this information in hand, now you can search for people who are in or have held similar positions, and will likely share qualities of your ideal candidate. Once you have a pool of potential applicants, reach out to them through InMail or a shared connection to see if they’re interested in your job.

Ask for help, and be helpful

Like all social media platforms, if you don’t engage with your connections, you’ll see little value generated from your time using it. However, with LinkedIn, the type of engagement you participate in can be extremely valuable for your business. All it requires is for you to ask for help or feedback. For example, if you have several logo designs for a new product and are unsure of which is best, share some of them with your network to get feedback. If you’re curious about a new productivity tool and wonder if it’s worth investing in, ask your network if anyone’s used it before. Oftentimes in the business world, people are happy to help you if you just speak up. However, don’t forget to return the favor. If you become the person who seems to only be taking advice without giving any in return, it can have a negative effect on your reputation.

If you’d like more ideas on how social media or technology can create value for your business, don’t hesitate to get in touch. Our IT solutions can help you overcome challenges, and create an even more valuable business.

Published with permission from TechAdvisory.org. Source.

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