Contributed Post | Mike McRitchie | Resume and LinkedIn Profile Writer | Telecom Marketing Content Writer

The Importance of Accepting a Variety of Different Payment Methods

November 28, 2018 by Contributed Post Leave a Comment

Payment Processor Options

Profit is the aim of the game when it comes to setting up and operating a small business. If you intend to make as much profit as possible, it’s important that you accept as many different payment methods as possible. This will ensure that no matter how your customers wish to pay, you will be able to accommodate their needs and preferences. Here are just a few different modes of payment that you might want to consider!

Cash

If you are operating on a face-to-face basis, you are likely to find yourself dealing with cash payments. This a simple, and often preferable, way for small businesses to take payments in person. This is because cash doesn’t come with a charge and you get to keep the full sum that you are given. It is also quite simple to deal with your accounts at the end of the fiscal year if you operate on a cash-only basis. However, cash does come with a risk. You need to always bear in mind that there is fraudulent cash in circulation, and while the possibility that you may receive fake notes or coins is relatively low, if you do accept fake cash, you won’t be able to deposit it into the bank or use it yourself, and you will be at a loss. So, make use of specialist pens and advice to ensure that you don’t succumb to this type of crime.

Online Payments

If your business is operating entirely online, you won’t be able to accept cash payments. Instead, consider taking card payments, or using a system such as woocommerce paypal express checkout. These options will allow customers to input their card details and process payments as and when they decide to check out. Just make sure that whatever online payment method you use is completely secure. Customers entrust you with a whole lot of personal information when they buy online from you. You need to protect this data in order to maintain a positive reputation and to comply with the law.

Gift Cards

Increasing numbers of small business are beginning to sell and accept gift cards as a form of payment. This is perfect for people who are looking for a gift for a loved one, but are unsure of exactly what to buy for them. Instead of committing to a gift they aren’t certain on, they can purchase a gift card from your store, which can then be passed on and used by the recipient. It is highly recommended that you implement gift cards into your business plan before the festive season, as this is peak time for gift card purchases!

These are just a few different payment methods that your small business should accept where possible! Hopefully, incorporating them into your small business will help to boost your number of sales!

How to Discover Your Niche as a Marketing Analyst

November 28, 2018 by Contributed Post Leave a Comment

Marketing Analyst Career

You have a passion for marketing data. Now it’s time to hone in on your strengths. Follow these tips to discover your niche as a marketing analyst.

Changing careers to become a marketing analyst is a smart move.

More than ever, marketing departments at companies large and small are relying on data to make decisions. The need someone to interpret that data and present numbers in a simplified way.

That means that if you can make numbers and statistics tell a story, you can be a great marketing analyst. There’s also a growing need for marketing analysts. Between now and 2026, the field is expected to grow by 23 percent, outpacing most professions.

The pay also coincides with the high demand. The average pay for a marketing analyst is over $63,000 per year or just over $30 per hour.

Read on to discover what a marketing analyst really does, and what it takes to become one.

What Does a Marketing Analyst Do?

A marketing analyst interprets many types of data to help senior managers make decisions.

For example, a chief marketing officer will want to know how effective a marketing campaign is. They’ll turn to a marketing analyst to pull data from various resources and determine if the campaign is working for not. They can dive deeper into data and pinpoint why a campaign isn’t converting or advise if there are components like headlines that can be tested.

Marketing analysts also work at ad agencies to help them decide how client campaigns are working and reporting back with recommendations.

Many decisions are made based on the data and the interpretation of that data. A good marketing analyst needs to be able to read data from many sources and determine the proper course for a campaign or for the entire company.

Companies may decide to release new products or enter new markets based on the forecasting data a marketing analyst presents to company executives.

Types of Marketing Analysts

When you’re looking at marketing analyst positions, you’ll find that there are a number of different titles for marketing analysts. While all of these positions examine data and generate reports, they have different focus areas.

Digital Marketing Analyst

A digital marketing analyst focuses on digital marketing campaigns. They will look at things like website traffic data and what’s driving that traffic. They’ll also make recommendations and create digital marketing campaigns based on that data.

Marketing Research Analyst

Your job as a marketing research analyst focuses on business competitors and customers. You’ll administer surveys, focus groups, and other qualitative data like economic forecasts to uncover new opportunities.

You’ll help steer the direction of the company as you determine what products should be sold, where they should be sold, and who needs them. Your data will help determine pricing, the competition, and sales forecasts.

Marketing Data Analyst

A marketing data analyst will look at sales trends, economic conditions, consumer insights, and more to see if marketing campaigns are generating revenue and what are potential opportunities for the company.

As you can see, there is a lot of overlap between these positions. They all focus on gathering and interpreting data in order to make key decisions for the company.

What’s a Typical Day Like for a Marketing Analyst?

Steve Jobs once noted that customers don’t know what they want until you show it to them. That was certainly the case with the iPhone and iPad. Now, we can’t live without those devices.

That’s how many companies operate. They’re looking to fill a need in the marketplace, and they rely on data that you provide to decide their next product launch, or market to expand into.

A marketing analyst will also work in the emerging world of predictive analytics to find opportunities, too. You can learn more about predictive analytics.

There really isn’t a typical day for marketing analysts. One day, you may be staring at spreadsheets. The next day you’re presenting findings to the CEO of your company.

If you’re stuck in a dead-end job, a marketing analyst can be a lucrative option. It’s also exciting and rewarding. If you like crunching numbers and don’t like to be bored staring at spreadsheets, this is an option for you.

Career Path of a Marketing Analyst

There is no one career path to become a marketing analyst. The reason why is that many schools and universities don’t teach the analytical skills that are necessary to perform the job well.

That makes it difficult for companies to find quality people for the job. Analysts may have a degree in statistics, business, or economics. They may have a background in marketing or communications.

Marketing analysts are unique because they have to be able to combine the data-driven skills of an engineer with the creative skills of an art director.

You need to have soft skills like good communication skills, excellent presentation skills, and collaboration skills.

Companies look for critical thinking skills above all else. There is a growing demand for these skills and if you can show that you can ask the right questions, you will command a higher salary.

You may want to start with an apprenticeship or internship to get experience as a market analyst. You’ll also want to have experience with different programming and analytic platforms like Adobe Analytics, Google Analytics, HTML, and Javascript.

Start Your New Career as a Marketing Analyst

If you’re thinking about changing careers, becoming a marketing analyst is a good option. There are a lot of opportunities as there is a growing need for these positions. The average pay for a marketing analyst is also above average.

To become a sought-after marketing analyst, you need to be able to perform under pressure and make sound decisions based on data. Companies are going to rely on your expertise, and much like defending a dissertation, you need to be able to defend every decision you make. After all, millions of dollars could be at stake.

You have to be willing to make critical decisions and withstand a tremendous amount of pressure if things don’t go well.

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The Event Planning Checklist: Everything You Need to Know

November 28, 2018 by Contributed Post Leave a Comment

Event Planning Checklist

Are you thinking about setting up an event planning side hustle? Check out this event planning checklist to keep up with everything you need for a great event.

Organizing a corporate event can be a way to demonstrate new product lines, meet new industry contacts, and to improve existing skills.

Planning one isn’t for the faint-hearted, however. Organizing a big event takes time, money, and a lot of preparation to get it right.

So how can you start planning a large event without making mistakes? By having an event checklist to follow, step by step.

And that’s exactly what we’ve got for you. Here’s our ultimate event planning checklist for you to make your next event successful.

What Do You Want to Achieve?

Before you start preparing an event plan, you should first decide what it is you actually want to achieve with your event.

Do you want it to serve an educational purpose? Is it promotional — for your business and its products? Or is it more for recreational purposes, as a treat for your colleagues?

Deciding the purpose can help you as you head into the planning stage. You can figure out rough figures for your attendance, as well as understand (at this early stage) what sort of venue you might need.

Confirm Your Budget

With an idea of your goals in mind, the next decision to make — and potentially the most important — is the size of your budget.

Without a firm idea of how much you can spend, you can’t decide on a venue, catering, speakers, or any other requirements for your event.

If you’ve organized an event before, great! Your figures may not be too dissimilar, and this can help you plan your budget much more effectively.

If you haven’t, you may need to do a little bit of research. It’s better to overestimate than underestimate.

If you’re unsure how big your budget should be for your event, don’t worry. There are event budgeting guides available that can help you narrow things down from a financial perspective.

Check and Decide a Date

If you have a budget, the next decision on your event planning timeline is deciding on a suitable date.

Your date can have a big impact on your preparations. If you decide on a date that’s unsuitable for your business requirements or it’s around major vacation periods, you’re not going to get the attendance numbers you need.

You might also find that your budget is impacted with reservations for venues at higher rates. Try to pick a date that’s a reasonable period into the future, to give you breathing space to prepare.

Find a Suitable Location

With a date decided, you can start to look for a suitable location for your event. You might want to keep it local, especially if you already have local connections with venues near your business location.

If you want to travel a little further, consider the impact this might have on accommodation and travel for your colleagues and for yourself.

Don’t just pick the first venue you find. Speak to, and visit, a few locations and get quotes for your event. You also need to check they have availability on the date you need to book!

Consider an Overall Theme

With some of the physical and practical elements out of the way, you can start to think more about your event itself. Choosing a theme “sets the scene” for the purpose of your event.

It can be used to excite your potential event attendees and generate publicity, it can link elements of your event together (from the speakers to the catering), and it can help you as you start to plan the rest of your event specifics.

Once you’ve decided a theme, you can think about the fun stuff, like an event musician! Discover more about how to find a musician for your corporate event the right way.

Further Event Planning for Events and Speakers

At this stage, you should be ready to start sketching out the nitty-gritty details.

Corporate events often use speakers to help bring in outside voices from their industry. If this is what you want to do, start thinking about names in your industry you can approach to run a session.

Speak to industry contacts about the possibility of sponsoring your event. It might not be for any financial benefit, but big names attached to your event can help generate greater interest through brand recognition.

Need some exciting event planning ideas? This event planning advice guide should prove useful.

Ramp up Event Marketing and Confirm Attendance

You should be thinking about event marketing from the beginning. Let your staff, customers, and clients know the date and specifics of your event as you confirm them.

As the event date gets closer, you should ramp up your event marketing efforts. Build a website for your event with an easy form for users to guarantee attendance (as well as to help you build an email marketing list for the future).

With an idea of potential event numbers, you can be sure you don’t order too much food or merchandise. As the day gets closer, continue your marketing efforts with an appropriate social media campaign. Don’t forget the email reminders either!

Final Event Preparations

Before your event happens, you need to confirm everything. Share responsibilities with your team to ensure nothing gets missed.

Everything from the caterer to the tech support has to be arranged and ready for the day. Do you have somebody to hand out the event passes and confirm attendance on arrival? Do you have backups for speaker no-shows?

With your event checklist in hand, you can keep your preparation on track. Don’t stress, don’t panic — follow the plan, and let everything come together.

The day before the event, do a final run-through with your staff and any relevant vendors to be sure no detail gets missed.

Make Your Event Successful with This Event Planning Checklist

Every good event starts out with a clear and successful plan of action. With so many things to organize and put together, an event planning checklist can help alleviate some of the stress that planning a large event can cause.

Our advice? Stick to your plan.

Confirm a budget on paper, organize your event specifics, and confirm attendance before your event happens. Make sure everybody is following the same plan by distributing a copy of your checklist to all parties involved in your event setup.

Check out some other business strategy articles for more ideas and strategies.

Planning for the Future of Your Business: What Happens When You Die?

November 28, 2018 by Contributed Post Leave a Comment

Effective Succession Planning

Are you prepared for the future of your business? Do you know what happens when you die? If not, keep reading!

Having a successful business is one of the biggest accomplishments you can ever have in life. But, it can still be taken away in a split second!

As such, one of the best business decisions you can make is to prepare for the unexpected. You never know when your company may need to close its doors – or, on a more serious note, when you may take your last breath. It’s a grim thing to think about what happens when you die, but it is a possibility you can’t rule out.

Here are 3 things you can do to prepare your business for what happens after you die.

1. Establish a Successor

A successor is someone who will take over the business after you’re gone. This person typically assumes your role and responsibilities as well as any finances left in your name that are tied to the business. Your personal finances are not theirs unless otherwise stated when estate planning.

There are a number of other reasons to be specific and clear when choosing a successor, though. Say you want your successor to be a child of yours but you have more than one child interested in leading the business. Say you have a few employees who would be great leaders to run the business, but at the moment there isn’t a clear way to tell who would take over.

It falls on you to offer the guidance that’s needed to ensure a smooth transition. These are decisions you have to make sooner rather than later, considering you never know when your time will come.

2. Get a Business Partner

Another way to ensure your business lives on long after you’re gone is to get a business partner. This person will basically take over your side of the business in the event of your death.

They may choose to bring on a new partner to fill your role or they may decide to do your job and theirs after you pass. Your business finances are also in their hands, which they can keep for themselves, donate, or invest back into the business. If you have a preference as to where your money goes, put it in writing to ensure things go as planned after you’re gone.

3. Put an Employee Stock Ownership Plan in Place

The final option you have to prepare your business for the event of your death is to create an Employee Stock Ownership Plan (ESOP).

Such a structure puts all of the business funds that are in your name in the hands of your employees. It sets up annual contributions that can happen just once or over a set period of time, depending on the amount of money you have and the number of employees who have stock in the company.

Be Ready for What Happens When You Die

As much as you may not want to think about what happens when you die, it’s something you need to do as a business owner.

Just imagine being an employee and having a job one day and then hearing the company is going out of business the next. Picture what it would be like to be a child thinking you’ll inherit your parent’s company only to have it taken from you.

These are the things that happen when business owners don’t prepare for the life of their business after their own life! They can significantly alter the course of your business or stop its progression altogether.

For more important business tips and insights to be aware of, click here.

Who Should You Listen To When Starting A Business?

November 27, 2018 by Contributed Post Leave a Comment

Business Startup Advice

A lot of people find the reaction which they get from telling those around them that they are starting a business to be quite frustrating. Everyone, from your closest relatives to your colleagues at work, will all have strong ideas and advice to help you with your work. Of course, though, you don’t want to be pushed down someone else’s route. Instead, you need to figure out who is worth listening to about your company, and who you can ignore entirely, with this post to guide you through it.

Loved Ones

Your family members and friends will all care very deeply about you, and will want you to succeed wherever you can. It’s easy to miscommunicate this, though, leaving a lot of people at odds with each other when one party simply wanted to offer some support. When someone you care about takes the time to tell you something, you should always give them the courtesy of listening, even if you don’t end up using their ideas. This will ensure that you don’t miss a diamond idea while toiling by yourself.

Those With Experience

If you’ve been running your company for a few months or more, it’s likely that you will already have some relationships brewing with larger ventures. The people at the helm of organisations like this can be a great resource. When you have ideas which you’re not sure about or have a problem which you’re struggling to solve, someone who has been in the field for many years will be invaluable. Of course, though, some people will charge you for this service, and this isn’t usually worth it.

Experts In The Field

There are loads of people out there who dedicate their lives to supporting different parts of businesses. If you need to solve a legal issue, for example, you can get a consultation here and start the ball rolling on your solution nice and quickly. When someone is paid to do something like this, you can rest assured that they will do their job well, especially when their employer has very good reviews.

Yourself

Finally, as the last area to think about, it’s time to think about the advice you can offer yourself. When you have so many people throwing their ideas at you, it can be easy to fall into the trap of thinking that your own aims are silly, even if this isn’t the case. To avoid this, you should always be making the final decision for your business. Even if someone works hard to convince you of something, it’s essential that you have the final say, as you are the one who is putting all of the work into the company in the first place.

Hopefully, this post will inspire you to start working harder on the time you put into the advice you get for your business. Some people are worth listening to, while others won’t offer anything at all, and you have to be able to spot this before you take on anyone’s support.