Work-Life Strategies & Solutions

On the Evolution of Work Systems in the Digital Economy

Tag Archives: Business

12 Tips to Raise Your Rates [Infographic]

The following content was submitted on behalf of Valpak.

A crucial step that all business owners and entrepreneurs need to take, at some point, as they grow is a business price increase. As your service or product improves, so does its value. It’s helpful to perform research into your competitors and industry before you make a jump. Is the increase justifiable? More often than not, a price increase will spark some conversation and uproar among your users or customers.

While you can’t control how your customers react, you can take the necessary steps to avoid push back. Be honest and transparent. Communicate the change with your customer’s needs in mind by clarifying the added value or benefits for them. You may be surprised with how consumers will be willing to pay a little bit more for a much better result or added value. For more specifics, Valpak breaks down twelve actionable steps to raise your prices and how to handle an upset customer as a result in their infographic below. Read more of this post

Advertisements

13 Psychological Pricing Hacks to Drive Sales [Infographic]

Whether you are a consumer or a business owner, you might find the following information on consumer psychology enlightening and useful. This content was submitted on behalf of Wikibuy.

When it comes to product pricing, we’re funny creatures. Our perception of cost is not as simple as reading what’s listed on the tag — in fact, it’s far more complex. The physical appearance of pricing sends subliminal messages, which in turn plays a role in our purchasing decisions and whether or not an item makes it to check out.

So, as we approach the busiest time of year for shopping – i.e. the holiday season, it becomes increasingly important for both small and large retail businesses to understand what their product pricing is really saying to customers.

It’s all about perception —

Human brains blur visual and numerical size, leading us to believe that a decreased font size, appealing layout, and even contrast means a decrease in price. But it’s not just small font size that has consumers fooled. Did you know that even something as simple as the removal of the dollar sign or comma are proven to augment customer spending?

The placement of the item and price are also crucial. Surround it with far lower prices, organize it from high to low, or let it rest between two extreme prices. In the above scenarios, customers are more likely to buy an item because they think they will get the most “bang for their buck.” In other words, people look for an affordable price without a loss of quality.

To expand on this concept and help businesses boost sales during the busiest time of the year, Wikibuy put together this comprehensive list of psychological pricing hacks to help you gain that competitive edge when you need it most.

Read more of this post

Robots and Drones Saving Lives in Disaster Areas [Infographic]

This infographic, which was created by EKU Online, covers the potential benefits of robots and drones in the service of saving lives wherever natural disasters occur. According to this infographic:

Though drone regulations are currently tight, according to an article by U.S. News, “The FAA [Federal Aviation Administration] projects the eased regulations could generate economic returns of more than $82 billion over a 10-year window, while potentially creating more than 100, 000 jobs.” With the No. 1 concern with UAS technology being safety, professionals skilled in safety, science and emergency management will be ready to solve the nation’s problems concerning disaster aid and relief.

Via EKU Online: Read more of this post

10 Secure File Sharing Options and Tips [Infographic]

The following content has been submitted on behalf of Panda Security.

Many businesses, large and small alike, have gone paperless. What does it mean exactly to go paperless? Because technology is so prevalent and accessible, many companies choose to exchange and archive information in the cloud, or digitally.

The cloud is made up of a multitude of Internet-based services, such as Google Drive and Microsoft OneDrive. These services allow trading and storage of data simply through the Internet. This means that multiple people can edit one document at a time. Even more conveniently, the same document can be opened from any computer with an Internet connection.

So, why are corporations making the switch to online file sharing?

A benefit of file sharing is its ability to centralize your company’s data. The juvenile game “Telephone” demonstrates the importance of streamlining communication. In the game, children sit in a circle or a long line. The first person picks a word or phrase and whispers it to the person adjacent them. This continues until the last person has to say it aloud. Often, the initial phrase has devolved into something completely different through small variations in each whisper.

Like the game, the flow of communication in the workplace can easily be twisted or misunderstood as it travels from person to person. Storing information digitally mitigates these communication errors because employees can access the same data — they don’t have to rely on coworkers to relay the information.

If you’re interested in learning more about file sharing, Panda Security has put together 10 secure file sharing options and tips. Scroll through the infographic below to discover file sharing advantages, risks, and services. Read more of this post

15 Tips to Optimize for the App Store [Infographic]

The following content was submitted on behalf of CleverTap.

Search engine optimization is a widely accepted strategy for successfully driving organic traffic to websites, but how are companies driving traffic to their mobile apps? Although Google has been around for over 20 years, marketers are still trying to navigate its complexity. the App Store, only 10 years old, is no closer to being figured out. Although this may seem like a bleak and discouraging point of view, there are many bright minds working around the clock to make incremental revelations about app store optimization.

From the most obvious factors of the app store listing, such as the logo, title, and screenshots, to the pricing, compatibility, and updates, CleverTap has compiled 15 actionable tips. When considering how best to navigate the app store for your mobile marketing strategy, implement these tips for a boost in app downloads and subsequent usage.

Via CleverTap

Read more of this post

11 Modern Marketing Skills for Business Innovators to Master [Infographic]

This infographic, which was submitted by Circa Interactive, covers important skills that are in demand for modern marketing professionals. In brief, the infographic provides important information and statistical data on the following skills: content marketing, mobile marketing, email marketing, social media marketing, search engine marketing, video production, data analysis, blogging, operational skills, user experience skills, and basic design skills. According to Maryland University:

Technology and social media have made a profound impact on marketing over the past few years. So much so, that small business owners, entrepreneurs, and marketers may need to update their skill sets to properly engage with he next generation of consumers (Gen Z) while effectively leveraging progressive technologies.

Via Maryland University’s Online Bachelor’s Degree in Marketing: Read more of this post

63 Coupon Statistics You Need to Know in 2018 [Infographic]

The following content and infographic was submitted by on behalf of Wikibuy.

Adding coupons to a built-out business strategy offers a number of benefits to today’s businesses. By influencing the customer purchase journey and driving customer loyalty, coupons have the ability to attract, convert, and keep customers, providing both short-term and long-term ROI. Coupons help businesses to:

  • Attract new customers: According to research by Inmar, 39% of customers say they’ve purchased a product from a brand they otherwise wouldn’t normally have bought from because they had a coupon for that brand.

  • Generate long-term loyalty: Research from ReadyCloud revealed that 68% of customers say coupons generate loyalty; additionally, studies have found that receiving an exclusive offer makes customers feel rewarded, excited, and special, generating goodwill for the brand.

  • Increase purchase amount: A study by Kelton found that coupons influence customers to seek out something to buy, treat themselves to something they don’t need, purchase a more expensive product, and spend more than intended.

Brands looking to leverage the benefit of coupons should focus on specific types of deals that have been shown to attract customers and increase conversions, including:

  • Offers on everyday items: 54% of consumers use coupons on basic necessities.

  • Free shipping: Nine out of 10 consumers say free shipping is their top incentive to shop online more.

  • Rebates: 83% of consumers think rebates are great savings opportunities.

  • LTOs: Approximately 50% of millennials think limited time offers are very enticing.

  • Surprise perks: 61% of online shoppers say receive surprise discounts is their preferred personalization experience.

To help get you started incorporating coupons into your business strategy, Wikibuy compiled 29 research-backed stats for driving purchases with coupons. Check out the full visual below to see how coupons can benefit your business.

Via Wikibuy: Read more of this post

Social Media and Customer Service [Infographic]

For those who’re interested in the subject of providing customer through social media, the following infographic, which was submitted by Circa Interactive, is quite informative. It covers topics like why companies should use social media to provide customer service as well as why American customers themselves seek customer service through social media. So check it out if you’re deciding whether or not to include the use of social media in your customer service repertoire.

Via USC Dornsife:

Social media is a vital communication platform and key customer service tool for businesses and organizations. Social media provides businesses the opportunities to offer instant customer service and can also help build brand validity, awareness, and exposure to core, niche or mass audiences. Similarly, it can improve customer relations and extend your brands reach across the Web.

Read more of this post

How Companies Can Achieve Cross-Functional Integration [Infographic]

Here is another informative infographic, submitted by Circa Interactive. This one explains various aspects of achieving cross-functional integration for companies: why cross-functional integration is necessary, how it can be helped along with information gathering, marketing benefits of cross-functional integration, obstacles to achieving it, and how it can be implemented.

Via Graduatedegrees.online.njit.edu:

A growing number of organizational management experts are promoting the use of cross-functional integration within corporations. Although choosing to adopt this form of hierarchy would require reorganizing and redistributing responsibilities, implementing cross-functional integration is an appropriate response to the increasing prevalence of big data and other recent trends.

Read more of this post

Top Business Management Models for Effective Management [Infographic]

The following infographic, submitted by Circa Interactive, summarizes elements of effective business management models. In terms of change management, for instance, check out what this infographic says about growth and change, the role of company culture, and barriers to change. This is followed by an informative overview of change management programs.

Via Graduatedegrees.online.njit.edu:

To run successful businesses, entrepreneurs must adopt new management strategies that promote staff retention, revenue generation, and workplace culture. This is in addition to exhorting rank-and-file staff to support change programs. Failing to do so can be costly for a business.

Read more of this post

%d bloggers like this: