On the Evolution of Work Systems in the Digital Economy
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This article was originally published at ModelFA.com
Email Marketing for Financial Advisors: Best Practices for 2019
Summary: Email may not have the cutting edge, high-tech appeal of some of the other marketing tactics. However, when done right, email marketing for financial advisors can be remarkably effective. In order to build a productive email campaign, advisors should begin by examining the needs of their audience. A broad-based “spray and pray” approach is the quickest way to burn through your hard-earned email list. On the other hand, highly targeted value-add communications will help you build trust, drive referrals, and stay connected to your prospects and clients. Read on for best practices (by email type) and some common email marketing mistakes to avoid.
Recently, I was fortunate enough to participate in a lively discussion with a thought leadership group comprised of forwarding thinking, young marketers. The topic eventually turned to the effectiveness of email marketing for financial advisors. Although opinions differed greatly on the types of campaigns financial advisors should leverage, there was one thing we could all agree on: Email marketing, when done correctly, is widely effective.
But what does that mean for financial advisor email marketing, now that we are in 2019?
Many hopeful freelancers start their business adventure so they can take control over their time and finances. As a self-employed freelancer, you get to set your own hours and decide how much you make based on how hard you work. You can decide to pursue projects that interest you the most, and ultimately do your best work. The appeal of starting off on your own is the reason why a third of Americans are currently freelance.
If you’ve ever considered quitting your day job in favor for self-employment, you’ve also probably had a few reservations as well. While the work is more flexible, so is the income. There’s less security when it comes to benefits and salary, which can land you in hot water if you don’t have a solid savings. In addition, finding and pitching your own clients can be incredibly intimidating. The fact of the matter is that starting your own venture, whether as a freelancer or entrepreneur can a difficult process.
However, that doesn’t mean that you can’t do it. With a solid plan for how you’ll make the transition financially, you can make the leap. To get you started on planning for unexpected self-employment expenses, Turbo created this helpful infographic. By making a few easy cuts, you can make your dream of quitting your day job a reality. Check it out below:
We analyzed how more than 4,000 companies use skills assessments on Vervoe, particularly employer and candidate preferences, and wanted to share the results with you.
Here are some of the most interesting things we learned:
The first step companies tend to replace with skills assessments is phone screening. Intuitively this makes sense because it’s a manual process that is very time consuming. Instead, recruiters can avoid screening altogether and review candidates after they’ve completed a series of job-related tasks.
Many companies have been able to consolidate several steps into one and reduce the number of steps in their process. This reduces the burden for candidates. As a result, the average number of stages in a hiring funnel is between three and four.
Nearly 70% of companies are using a skills assessment at the top of the hiring funnel. This is consistent with the removal of phone screening, which is typically a top of funnel activity.
While corporates often use skills assessments at the top of the funnel, the companies most likely to use assessments at the bottom of the funnel are staffing firms. Read more of this post
The following content was submitted on behalf of Valpak.
Any major business move requires taking a risk. Whether you leave your corporate job to pursue a passion project, launch a new product, or partner with a new company, it can be daunting to make a drastic change. Thankfully, there’s a helpful strategy to weigh the potential outcome before taking the leap.
Calculated risk-taking involves carefully considering the pros and cons of a decision, with a thoughtful plan behind it. There are helpful steps, tools, and tactics you can use break down the outcome into smaller digestible steps. Make a list of everything that could go south if you move forward with the decision, whether it’s related to your business finances, relationships, self-care, or time. Schedule regular check-ins as you work towards a goal to see what kind of progress you’re making. The more you understand all potential costs to that risk, the better you can improve its outcome.
For a helpful breakdown on calculated risks, view the visual from Valpak below. It covers steps to follow so you can anticipate red flags and successful company who have used this method. Read more of this post
The following content was submitted on behalf of Fundera.
In a dense market, it can be difficult for your business to acquire the capital it needs and stay afloat. Between branding, sales, and everyday operations, the cash that comes in can quickly flow out. That’s why it’s essential to select a pricing strategy that works for your business. The right strategy will not only help you stay afloat, but establish your branding within a market, and differentiate you from competition. To do this, you must conduct a thorough analysis of your company and the market.
First, if you’re not already aware of your costs, take time to account for these. Add up your expenses and overhead to get a finite number you’ll need to break even. Then set a ballpark number in profit that you’d like to achieve to determine a good price point for your product or service. This will give you a good idea about how much revenue you’ll need, as well as keeping you motivated to reach your goals.
Next, get to know your market. Take a look at the pricing strategies of your competitors, as well as how they’re marketing themselves to their audience. Look at the website, social media, and blogs to determine how they’re positioning themselves and what you can offer that they can’t. Knowing what your audience expects will go a long way towards help you compete.
With a thorough understanding of your market and profit goals, you will be better able to select a pricing strategy that drives success for your business. For more on which pricing strategy is right for you, check out this infographic below by Fundera: Read more of this post
Screening candidates isn’t helping you.
In technology, user experience design is very close to our hearts. We are constantly trying to make it easier for our prospective customers to gain value from our products and services. We try to make the experience as welcoming as possible and take them on a journey.
When it comes to our prospective team members, perversely, we seem to take the opposite approach. When people express an interest in joining our teams, we seem to go to great lengths to push them away. We actively discourage them. We screen them.
“To test or examine someone or something to discover if there is anything wrong with the person or thing.”
– Cambridge Dictionary
That’s how traditional recruitment works. When people want to join our ranks, we try to find out what is wrong with them so we can rule them out. There is something inherently wrong with that approach.
What does that say about us? What message are we sending to people? When I try to put myself in the shoes of a candidate, this quote comes to mind:
“Sometimes it’s the journey that teaches you a lot about your destination.”
If the journey is obstructionist and unpleasant, if I’m being screened as if there is something wrong with me, that must say something about the destination.
So let’s change that. Read more of this post
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
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.
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.