by studying the tactics imbibed by business giants
In the contemporary times, the economy of the world largely depends on the different enterprises and businesses and how they operate. With the advent of digital technology and the internet, people are relying more and more on the virtual options for their business management needs.
The internet plays a significant role in the contemporary world in every aspect of our lifestyle. The different types of businesses whether a larger scale or a small scale one depends to a large extent on the internet for marketing and promotional work these days.
The key is to be very creative and unique about your promotional methods in order to stand out in the crowd on the internet. Professional agencies specialize in particular to help people with managing their business marketing strategies and ensure that their business is prosperous.
Why is online promotion necessary?
When it comes to the business of any scale or magnitude, the promotion and marketing is the backbone for the prosperity of the business. There are different aspects of the business, and it is vital that you are able to ensure that the business is thriving and prospering. The influence of internet is undeniable, and since it is influential in every aspect of our lives, we can easily use the internet for promotional purpose as well. In fact, the internet has a strong potential in marketing provided you are innovative enough about the ways in which you are using the internet for the promotional works. The following are certain marketing strategies which have been tried and tested over the years by major companies and have been approved as effective. If you follow them right, you would be able to make sure that your business is thriving.
Using social media for promotion
This is one of the most popular modes of managing your business and ensuring that it gets exposure from the right people. There are different types of social media platforms like the Facebook, Twitter, Instagram, Tumblr and many more which you can opt for using as your social media promotion platform. The features associated with each of these social media platforms are such that promotional work with the help of these platforms becomes very easy for the users. The social media page for your business can be a great way to ensure that your business is being well promoted and you are able to reach out to more and more people who are likely to be interested in the products that you have. Social media marketing helps to ensure that your business is thriving and at the same time your connection with your prospective clients would also be strengthened, and hence a cordial-reaction with them would be developed in the process. Social media promotion is a vast genre in itself, and one has to understand its intricacies well in order to make the most of it.
Generate conversation on the social media platforms
When you are using the social media platforms for business promotion, the best way to attract more and more people who are likely to be interested in your product is through generating interesting discussion and conversation on the social pages of your business. You need to engage your clients and employees into a productive and meaningful discussion which would eventually lead to increased sales. A simple survey question or a question asking for the opinion of the prospective clients regarding a new launch or upcoming product launch is a great way to engage them into a conversation and also get an idea about the types of products that are more in demand among your clients. Facebook page or Instagram comment section is the perfect place for such conversation and the more the comments and likes are consistently increasing, the more the post would get boosted over the period of time. Planning and strategizing the special offers and publishing those at the right time would also help you to get more publicity from the right traffic sources.
Professional help for business promotion
There are different agencies which can help you out with all types of services related to the business promotion. The professional help is often essential to making sure that you have ample time to handle other aspects of the business. There are many different types of online business promotion services and reputed agencies which have been working on such factors for a while would be able to provide you all such services easily. One of the top professional agencies that are highly recommended is the BigDropInc which is noted for their versatile service over the years. There are certain factors that you should be considering while you are choosing an agency for business promotion solutions to ensure that their business is thriving. First and foremost, the experience and reputation of the agency should be considered. The types of services they provide and their expertise in the certain field is another major factor that has to be considered. The reviews they have received from previous clients regarding their quality and also the rates and packages and contracts that they have for the clients are a certain major factor that is to be considered to choose the best agency for your business management needs.
There are different aspects of the business, and all of them should be taken care of well to ensure that your business is prosperous. The digital marketing and promotion for any type of business are essential to ensure that the business is thriving and you are able to get exposure from the right people. Studying the campaigns off-seasoned businesses would help you to design your own business campaign and the tips mentioned above are some of the most tried and tested factors that you can rely on. It can be concluded that there are various ways in which the internet can be used for promotion and if you are innovative enough, you can use the versatility of the internet at your advantage as a businessman.
Author Bio – Barrack Diego is developer and marketing expert at BigDropInc a top web design company based in New York. He has many years of experience in the website design industry. He also has minor experience in Social media marketing area and has helped many clients with this and web design service.
An unprecedented Black Friday: How can retailers prepare?
Retailers must invest heavily in their online presence and fight hard to remain competitive as a second lockdown stirs greater uncertainty
With an unprecedented Black Friday and Cyber Monday weekend on the horizon (27th – 30th November), eCommerce hosting and consultancy expert, Sonassi, advises retailers to strengthen their online presence and make the necessary preparations for a fatigue in consumer spending.
James Allen-Lewis, Development Director at Sonassi, explains: “This year’s golden quarter has squeezed together three of the biggest sales periods like never before, meaning retailers will have to fight harder than usual to remain competitive this Black Friday. With greater discounts over a longer period of time, alongside the fact that a second lockdown has moved everyone and everything online, retailers will be battling it out for a share of decreasing consumer spending.
“However, this sense of uncertainty should not deter merchants from implementing their sales strategies this Black Friday and Cyber Monday weekend. Instead, they must go further than simply providing online discounts and tackle challenges head on by re-focusing their efforts on creating a highly competitive user experience. Successful merchants will make the necessary preparations for a change in consumer demand and invest more heavily in their eCommerce infrastructure.
“One way in which retailers can do this is by using last year’s Black Friday as a case study to inspire their future response. For example, retailers should take note of the key consumer behaviours that transpired throughout last year’s mega peak in discounting and plan accordingly for the upcoming Black Friday and Cyber-Monday weekend.
“Tactics such as providing the ultimate online delivery service and secure payment methods will also be pivotal for retailers looking to survive a fatigue in online spending. Consumers will look to retailers who do not overpromise on items like next-day delivery and ensure their checkout process is safe and frictionless for all. It is the retailers who embrace this fact and meet the needs of the conscious consumer that will win their share of consumers wallets.
Allen-Lewis concludes: “With Black Friday and the build-up to Christmas just around the corner, retailers must adapt to changing consumer demand, invest more heavily in their eCommerce infrastructure and focus their efforts on creating the ultimate online experience. The only way to plan ahead amid challenging times is to listen to the needs of the customer.”
Optimistic outlook for 2021 public M&A
Optimism is returning and the outlook is positive for the Australian M&A market in 2021 after a COVID-induced crash in deal activity in 2020, according to Corrs Chambers Westgarth’s tenth M&A 2021 Outlook report.
The special report reveals that an environment of historically low interest rates positions M&A as a significant means of achieving growth and generating returns, including for private equity firms looking to deploy capital and strategic buyers focused on complementary acquisitions.
With the unprecedented challenge of the COVID-19 pandemic, global political instability and arguably the greatest economic challenge since the Great Depression, M&A 2021 Outlook details somewhat surprising trends emerging for the next 12 months and analyses a number of common COVID-19 myths and their influence on future M&A deal making.
Corrs’ detailed examination of the Australian M&A market draws on data taken from the firm’s proprietary database of transactions combined with in-depth research for the 12-month period ending 30 September 2020.
Key trends identified in the report include a rapid escalation in M&A levels and an increase in creativity in pricing and speed in closing deals, while also highlighting the critical need for support from target shareholders. Conditions also appear to be set for a continued rise in equity prices as a result of the ongoing influx of capital into Australian equity markets, making it imperative that bidders employ strategies to move quickly on M&A transactions.
Discussing the M&A 2021 Outlook, Corrs Head of Corporate, Sandy Mak, said “Despite a challenging year, our research indicates that 2021 could well see the volume and value of deals continue to grow. We are already witnessing this uptick in activity and while some industries and sectors are seeing a faster rebound than others, early indications are that the wider public M&A market will continue to strengthen over the coming months.”
Based on its detailed research, the M&A 2021 Outlook report discusses further key findings including:
- Deal volume and value is the lowest since 2016, however volumes have shown significant recovery since June 2020.
- More than 50% of deals in 2020 were ‘hostile’ and not recommended at the outset.
- 71% of deals over A$500 million were structured by way of a takeover – a significant increase from prior years – largely as a result of increased competition for assets through rival bids.
- Despite border closures and the tightening of foreign investment regimes, the percentage of deals with foreign bidders has increased materially since April 2020.
5 steps for SMEs to budget properly for the coming year
By Fabio Comminot, Head of Dealing, Switzerland at Ebury, one of Europe’s largest Fintechs, has provided a five-step guide to make sure budgeting is done on time.
During the challenging times of COVID-19, it is difficult to forecast orders and costs. This is especially true for SMEs that operate internationally and therefore are exposed to currency fluctuations and market movements. So budgeting is immensely important.
Autumn is budget season for most companies. Upcoming project costs, sales and fixed costs must be defined or forecasted. Budget planning should be as accurate as possible right from the start of the process to avoid unexpected consequences at the end of the year..
With the effects of the COVID pandemic it has become difficult for all companies, no matter their size or history, to plan and make sales forecasts. Early planning and hedging are especially important for companies that work internationally and are therefore particularly exposed to currency risk.
These five steps will help SMEs take the right measures for the coming financial year, in time for budget season:
Step 1: Estimate your costs or sales in foreign currencies
As difficult as it may seem, every company must estimate its expected fixed and variable costs for the coming year. Most companies can forecast their revenues based on experience or existing orders.
However, start-ups or young companies should also be able to at least estimate their costs including rents, insurance, wages and production costs. Special attention should be paid to costs or revenues that are spent or received in a foreign currency.
Step 2: Profit or cost assurance – define the strategy
As soon as an approximate plan for the coming year is in place, the company should consider the importance of currency management. Regular earnings or expenditures in foreign currencies are exposed to movements in exchange rates. If costs in a foreign currency are to be forecasted until the end of the year, the company needs to minimise volatility. This means that the exchange rate should be fixed so that there are no unexpected negative consequences at the end of the year.
Another option would be to protect the operating profit. Fluctuating exchange rates can rapidly ruin intended profit margins. In this case the company could aim to define the forecasted sales in the foreign currency and fix the margin based on this.
Step 3: Fix your budget rates
The budget is set, the currency management goals are defined, the major part is done. Now it is a matter of defining the budgeted rates for the various currencies based on the current exchange rate. A buffer of about 5% can be useful when doing this – for example. instead of fixing the exchange rate from US dollar to Swiss franc at the current 91 cent, a rate of 95 cent could be budgeted. In this way, the minimum budget rate is defined and any negative exchange rate movement can be at least partially compensated for.
Step 4: Define the hedging strategy
With the targets and the budget course set, the next questions are: What currency developments can be expected? What is the industry outlook? Is the order situation relatively secure? Or is there practically no empirical data?
This step is where Ebury can support the company. Our experts in FX markets help answer these questions and begin to define the individual hedging strategy.
Step 5: Ensure a flexible fit
It’s done: the measures have been defined, now it’s time for implementation.
Ebury will implement the previous steps and , so that the company focuses on its core business. In contrast to traditional financial services providers such as banks, Ebury constantly monitors international trade and political events in order to assist clients with strategy adjustments. The Ebury team is supported by state-of-the-art technology and international currency analysts. It makes no difference whether the changes are driven by the currency market or whether the company’s order situation itself is changing. This allows the SME to focus on its operational business, which is worth a lot in uncertain times like these.
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