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2019 Digital Marketing Trends

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Digital marketing constantly innovates and changes, and with 2019 approaching, understanding the current trends is essential. Find out, right here.

We’re fast approaching 2019, and with that being said, a new year brings new challenges, and new trends too. In the world of digital marketing, everything is constantly changing. New tech helps innovate and increase the effectiveness of work in the field. So, what trends are going to become apparent in 2019? In this post, we’ve spoken to a leading digital marketing agency, about the predicted trends set for 2019, regarding digital marketing.

So, in this post, we’ll talk about the up and coming digital marketing trends for 2019. Everything from AI to social media, and how they’re going to affect the digital marketing landscape. Let’s get started.

  • Social Media

Social media isn’t a new trend, but it’s one that is going to continue to grow even more in 2019. Even the smallest of businesses should be using social media within their marketing strategies because of the sheer number of users on it. We Are Social estimates there’s around 3.196 billion users on social media cross the world. But in 2019, there’s going to be an even greater focus on demographics on social media, or more specifically, learning to not cross platform.

Each social network has a different demographic. Sure, users of all ages may be on different social networks, but there’s certain social media platforms that attract different demographics, and the content used on each is engaged in different ways. For example, Facebook users may not be interested in YouTube content and YouTube users won’t be interested in the blogs on your site. 2019 is the year to develop different forms of content and strategy for different social media platforms, targeting the right demographic.s

  • User Generated Content

Businesses should put a specific focus on user generated content or UGC in 2019. It’s a smart tactic that some of the biggest brands in the world have already been using, like Apple and GoPro, but 2019 will see a shift to where all kinds of businesses start using it. It’s about encouraging users to interact with your business on another level, spreading brand awareness through hashtags and UGC. It gives brands a new level of authenticity and realism, showing that you value your customers buying into your business. UGC is going to be an essential part of digital marketing and branding in 2019.

  • Artificial Intelligence: Chatbots

AI has slowly been creeping its way into digital marketing for years now, but in 2019 AI chat is going to become more accessible for businesses of all sized. Whilst the service is used by many companies already, it’s going to see an increased growth in the coming year. Why? Because it’s easy to integrate into a business, will improve and enhance customer experience as well as reduce staffing costs. Whilst some AI integrations are more expensive, many social channels already have AI chat capabilities built in, which means it’s going to become more accessible and better in 2019.

  • Visual Searching

With users having cameras built into their phone for years, visual search is going to take a step forward in 2019. It’s the process of searching with an image, rather than a written query, in order to return results. Some business’ apps have already utilised this into their model – mainly clothing brands. However, it’s not to say that it will just work for them. There are many other businesses that could utilise visual search into their websites or apps, if the demand is there. However, users are set to make use of visual search more in 2019, so it may be time to meet the demand.

  • Voice Searching

In the age of virtual assistants, like Alexa and Siri, digital marketing strategies must begin to focus both on voice and written searches. With the introduction of these assistants in both mobile and the home, it means that users are searching in different ways. So, an emphasised focus needs to be on voice searching, in order to fully understand the demographic of a business. With ComScore predicting over half of all searches will be voice searches in 2020, it’s something that needs to be worked on in 2019.

  • ‘Micro Moments’

In world of ads, notifications, emails and offers, users are beginning to are to have micro moments, which is an incentive to learn, do, buy or look up something on their own – without prompt from ads and the rest listed above. Google estimates that in 2019, we’ll see more of the micro behaviours. In 2019, it’s the time to optimise marketing strategies to accommodate these micro moments.

  • Augmented and Virtual Reality

More and more businesses are implementing VR and AR into their online strategies, but the real growth is going to be most noticeable in 2019. It grants consumers and users a more immersive experience and provides true content value to them. Work on integrating VR and AR in 2019.

And these are the trends! Work on all of these in 2019 to be ahead of the competition.

Protection of Life Insurance Plans Premium Calculator

Having a life insurance plan is a financial security for medical problems that an individual may incur throughout the course of their life. The life insurance plan secures a person and makes sure that there are no shortages financially when the individual faces a medical emergency. There are also several other benefits for the life insurance plan that can help save the finances and the life of a person.

Unlike before, nowadays life insurance plan has become a necessity more than a choice for most of the individuals and a better economy has now enabled a number of people to buy insurance plans for themselves and their families. Nowadays, in order to cater the requirements of the insurance seekers the insurance provider offers complimentary medical and health insurance to employees and their immediate family.

Reasons for Buying a Life Insurance Plan

Having a life insurance plan or a medical insurance of any sort is important for each and every individual. Having a life insurance plan can prevent the worst from happening and can help any individual to prepare for the worst. Let’s take a look at some of the reasons why being insured under a health insurance plan is beneficial include:

  • Health insurance plans are cheap in nature. There are different insurance plan premiums that are there to suit the incomes of every individual. This is done so that everyone can afford a health insurance plan for themselves and their families as well. Term insurance plans have a premium that can be decided by the policyholder which they are required to pay on a monthly basis.
  • Life insurance plans can last throughout the lifetime of an individual. This can only be done if there is an agreement with the company and the individual to prolong the life insurance plans even after the policy term has expired. With such lie insurance plans, a customer does not have to worry about buying and investing in a separate life insurance plan each time the policy term expires.
  • There are certain life insurance plans where individuals can also invest certain amounts of cash along with being insured over a certain period of time. The life insurance plans act as a protective plan and a bank to secure and retain the funds of the policyholder for a certain number of years.
  • Apart from the death benefit of a life insurance plan, there are several other benefits to the plan itself. Those who live out their life insurance plan get special benefits on their premium. Life insurance policies may also give the entire term premium to the insurance holder on completion of the insurance term plan.
  • Life insurance plans can also be converted into other plans. Depending of the type of life insurance plan, the plan can be modified into a different insurance plan or it can even be transferred from one company to another. This is done so as to avail of more benefits on the life insurance plan itself.
  • Taking care and maintaining the health of the insurance holder is solely the responsibility of the insurance holder. All other medical expenses that may be needed for the policyholder throughout the course of their lives are all taken care of by the insurance policy on behalf of the policyholder.

Calculating Life Insurance Premiums

The premium for a life insurance plan depends on the type of life insurance plan that is being bought and the company. There are some companies where the premium for insurance plans is pre-decided. While in other countries, the premium can be mutually dependent between the customer and the company. There are also certain insurance companies that calculate the insurance premium for individuals using life insurance premium calculator for them. Some of the factors that determine the insurance premium for a policy include:

  • Age – The age of the policyholder is the prime factor for the calculation of an insurance plans premium. The younger the insurance policyholder, the better the premium will be for the policyholder. This is because younger people are healthier and are less susceptible to medical problems. While those who are older have a higher premium rate.
  • Gender – Statistically proven, women go to doctors more often than men do. More men are also seen to be diagnosed by critical diseases as compared to females. This is the reason why men pay a higher rate for premium as compared to females.
  • Body Mass Index – Health insurance companies take into consideration the body mass index of individuals who are going to be insured under their policies. Those individuals that have a higher body mass index are more likely to incur a disease as compared to those who have a relatively good body mass index. In such a case, the premium is higher for obese people.
  • Family Medical History – The medical history of the family of the insured needs to be known by the health insurance company. The family health insurance can help determine if the insured may get any health related problems in the future. The medical history of the individual as well can help determine the future health problems of an individual. The more severe the medical health insurance history of a family, the more will be the premium for the health insurance plan.
  • Occupation – There are a number of occupations that are categorized serially according to their risk to the individual itself. There are certain occupations that are considered more hazardous in comparison to others. Those who are working at oil firms or mining underground, are considered to be more at risk of getting a health-related problem as compared to a businessman or a company employer.
  • Income – The income of an individual will determine if they will be able to pay the premium for their health insurance plan or not. Those who have a higher income have a greater premium rate as compared to those individuals who do not have such a high income.
  • Smoking and Alcohol – If the insured is a smoker or consumes alcohol on a regular basis, their insurance premium will be higher as compared to non-smokers and non-alcoholics.
  • Hobbies of a person – those individuals that like to take part in high risk hobbies or like adventure activities are likely to have a high insurance premium as compared to those who do not have such high-risk hobbies.
  • Travelling – those individuals who travel more often to foreign countries that have a high health risk are required to pay a higher amount in terms of premium.
  • Debts – Those individuals who have a great number of debts in the form of compensating for loans, credit card bills or any outstanding bills for that matter will have issues when they want to get a health insurance plan.

Different Types of Life Insurance Plans

In general, there are different types of life insurance plans that are offered to the masses. Each plan has its own set of inclusions and special features that separate it from the general life insurance plans. Some of the different types of life insurance plans that are offered by insurance companies are as follows:

  • Term Life Insurance – This is the simplest form of life insurance plan This plan provides death benefit to the insured. In case of the death of the insured, the term life insurance plan will compensate in terms of money to the nominee of the insured or the family of the insured so that there are no financial problems that may arise in the future.
  • United Linked Plan’s (ULIPs) – A comprehensive plan that both acts as an insurance plan and an investment plan is the united linked plans. This plan covers for the health of an individual and it also acts as a fund that is meant to save a certain amount on behalf of the insured to be useful in the future.
  • Endowment Plans – These life insurance plans are also acting as investment plans that save the money that is paid in the form of premium. This amount that is saved is given back to the policyholder at the end of the policy term or in the form of regular maturity bonuses. Endowment plans are sure savings plans that are meant to benefit the insured on a regular basis.
  • Money Back Life Insurance – A money back life insurance plan gives back a certain amount of money that the insured had already paid in the form of premium to the insured. These plans help those who are insured to meet their short-term financial goals.
  • Whole Life Insurance Plans – These insurance plans are supposed to last throughout the life of an individual. There are also certain life insurance plans that last till the individual turns a 100 years old. The sum assured from the life insurance plan and the premium for the same are decided at the time of purchase of the insurance plan.
  • Child Plan – These are life insurance plans that are specifically made for children. These life insurance plans may be temporary (which last a child for a couple of years) or permanent depending on the type of insurance plan that is bought. The child insurance plan is a huge financial commitment that is meant to build up money for the future of the child. When the child turns 18 years of age, the sum assured is given back which will help to finance the child for the future.
  • Retirement Plan – Retirement plans help to build up money for the insured that can be used as a financial backup for the future. Retirement life insurance plans make sure that the individual is financially secure and can lead a free and independent life after they are retired. These life insurance plans also come with additional death benefits. In case of the demise of the main policyholder, the entire sum assured from the insurance plan is paid to the nominee that was elected by the insured person.

Wrapping it up!

With the uncertainties of life, it is very important for every individual to have a life insurance policy. However, one should consider all the above mentioned aspects before zeroing in on a plan and choose the plan that best suits their requirements.

Why did Rolex increase its UK prices by at least 5 per cent?

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Luxury watch retailer Rolex has increased its prices in the UK by 5-8 per cent. As of October 3, lovers of the brand will have noticed the price escalation across many of its popular models. The announcement comes at a sad time for buyers who have eagerly awaited a vintage or new model on a waiting list only to be handed a bigger bill.

Why the price rise? Is Brexit to blame?

With Rolex remaining tight-lipped on the issue, the increase only affects the UK market. There could be many reasons behind Rolex’s decision to alter its prices, but it is suspected that one influence may be Brexit and subsequent impact on EU currencies. Rolex will need to ensure its pricing correlates with exchange rates.

Inconsistent prices of construction materials

Far more goes into creating a Rolex watch than the manufacturing process. These masterful timepieces require intensive effort to ensure their reliability, accuracy and attractiveness and this is reflected in the price. With the addition of expensive stones, the prices bumps up even more. Some people believe the rise is due to an increase in the price of gold. While this may have been true when prices were increased in 2016, it doesn’t really affect them now. Since its peak in 2011, the price of gold has been fluctuating and after the 2016 increase, the value stayed fairly low so it is unlikely that this made Rolex’ decision.

Attempts to stop ‘buying tourism’

The UK remains an attractive prospect for watch buyers from outside the UK due to its high VAT rates. Non-UK buyers can reclaim 20 per cent back on their purchase, meaning they can get a steal by buying something here. As a consequence, many Brits find it hard to get their names on waiting lists for these prestigious watches. Rolex could be attempting to prevent the UK from being dominated by this ‘buying tourism’ and trying to keep its prices around the world similar.

Inflation

One theory is that, with some wages increasing at a higher rate than inflation, if Rolex prices went up in line with inflation only, they would be affordable to much more of the population. By ensuring prices remain high, Rolex protects its reputation as a luxury brand – guaranteeing those customers who require a status symbol timepiece.

Prestige

Finally, another reason for the increase could be down to Rolex attempting to maintain its luxury watch brand status. It may be trying to distance itself further from more affordable brands like Omega and establish itself as an elite retailer.

What does this mean for buyers?

For those who’ve been torn between spending their hard-earned cash on a new watch or a wedding, they’ll be feeling the pinch more. With various increases over the decade, Rolex watches are now more expensive than ever but this trend shows no sign of slowing down. While the initial outlay is high, there is an excellent chance of appreciation to eventually give a great resale price. For example, the GMT-Master II “Pepsi”, was originally priced at £6800, could now cost £7140 after the increase – a rise of about £340. The pre-owned market will also feel the squeeze because prices of already popular models, which are likely to continue increasing whilst availability will remain low.


For watch enthusiasts with an already-healthy Rolex collection, the price escalation will have a positive knock-on effect on discontinued and vintage pieces, such as those sold at luxewatches.co.uk, to boost an investment.

Rolex is now the world’s most valuable luxury watch retailer, having been valued at £6.6 billion earlier this year.

5 Businesses You Can Run From A Self Storage Unit

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If you’re a business owner, you probably have several criteria that a work space needs to meet for you to consider setting up camp there.

It needs to be something flexible, in terms of access and in use of space. It has to be secure so you don’t have to add fear of theft to your already long list of concerns as a business owner. And it needs to be cost-effective – you can’t be forking out as much as you bring in, just on rent.

There is an increasing number of SMEs flocking to two particular types of work spaces that offer all of these: self-storage units and co working spaces.

Storage units are fast becoming a popular option for businesses in a vast range of industries. Far from being a place to store cardboard boxes and unused furniture, a storage unit can be moulded and transformed to fit the needs of an impressive range of businesses.

If you’re thinking, that’s good enough but I don’t think my business would work from a storage unit — then you might need to think again.

To really give you an example of how a business can use a storage unit as office space, here are 5 businesses that you can run from a self-storage unit.

Number-Crunchers

The first business that might have popped into your head probably wasn’t an accountancy firm, was it?

A self-storage unit can easily be converted into a sleek and professional office space for a smaller team of accountants to work out of.

To keep their work streamlined and organised, they can set up their day-to-day space with simple storage solutions to access important documents they need on a regular basis. To make sure the office space doesn’t become cluttered, they can rent extra storage space elsewhere in the facility to put excess paperwork in an archive.

When they want to meet clients, meetings can be arranged and conducted in on-site meeting spaces if the storage facility has this, or you can take the opportunity to pamper important clients with a cafe visit or a lunch on your account.

The space is functional and excellent for day-to-day work, and the rent is likely to save you a lot of money.

Repairs Services

A storage unit workspace is perfect for fix-er-up-ers in the line of repairs — electronic or mechanic.

The storage unit space can be modified to act as a fully-functioning workshop. With room to store equipment, protective gear, carry out practical repairs, and do administrative work, it’s an ideal work space solution.

It’s also an incredibly safe option when it comes to storing expensive tools compared to keeping it in the back of a van or in a garden shed. Most self-storage facilities come with an impressive range of safety features such as secure locks, unique entry codes and 24/7 CCTV.

If your business is seasonal or if you’re looking to scale it’s simple to upgrade/ downgrade your square metres so you’re only paying for the space you need.

Second-Hand Sellers

Second-hand product sellers are no longer confined to sell their wares at car boot sales, online, or in temporary high-street pop-up shops.

A self-storage unit is a fantastic, adaptable spot to sell all sorts of second-hand goods, whether it be re purposed furniture, vintage clothing, or unusual books.

Setting up shop in a storage unit can be easily done with demarcated spaces for a checkout and for displaying goods on rails or shelves.

And of course, if your second-hand store has an eCommerce store too, you can run the ship from a storage unit for a very competitive rent.

Another bonus for those selling vintage or easily damaged items is that storage units are not only secure from thieves, they are also secure from the elements. With great ventilation and climate control, your items will be kept in tip-top condition.

E-Commerce Businesses

As well as running a physical shop out of a storage unit, owners of eCommerce stores can use the space for the behind-the-scenes running of their business.

Having the space of the storage unit is essential for separating work and home life.

There’s space to take professional photos for your website without fear of pets or family members getting in the shot.

The work space is multi-functional, easily separated into an area for using the computer to manage databases and print off packaging labels; a space to organise inventory; and another space for packing up products, ready to send off.

If the store needs more room to breathe during peak business times of the year, they are not sucked into a restrictive lease. If they need more storage space or a bigger unit, they are likely to be able to liaise this with ease with the facility management.

Videographer/Photographer

A storage unit can be converted into a fully-functioning studio for those in the videography/photography line of work.

It offers an environment to have lighting, backdrops, tripods, and cameras permanently set up how they like it, without having to take it apart and rebuild it every time they have a guest over to their home.

Storage unit operating hours suit the often erratic and anti-social hours that videographers and photographers do, so they can work late to finish off those essential edits on their latest piece of client work.

They can live the dream of having their own personal studio without the crazy rental prices of city centre locations.

How Volo Corporate Ltd Continues to Move the Needle for Marketers Globally

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Volo Corporate Ltd is an established technology company that aims to make the world of online advertising more accessible to more people.

As a pioneering company behind the invention of new self-service advertising platforms that enable individuals with little or no prior marketing experience to run their own banner ads from scratch, Volo Corporate Ltd has demonstrated its commitment to lowering the entry barriers for aspiring marketers all around the world.

The online advertising industry is an industry that has been rapidly growing for the past 2 decades. And recently, in certain markets, online advertising spending has now surpassed the total dollars spent advertising on TV. It is this growing market opportunity that Volo Corporate Ltd aims to help its clients take advantage of.

The creators of Volo Corporate Ltd have worked tirelessly to develop a solution that provides valuable educational resources and technologies to people who are looking to break-in to the industry. On the one hand, the company gives its clients access to detailed educational materials – videos, articles and e-books – that enable Volo Corporate Ltd’s clients to engage in self-learning.

Additionally, the company has a help desk working 24 hours per day, 5 days per week, answering client’s questions and ensuring that every single client gets the most out of the program.

What should clients expect from their journey with Volo Corporate Ltd? Well that all depends on several factors, the most important of which is how committed the client is to learn the ropes of the online advertising industry. If the client simply wants to click a button and get results, the company is probably not able to help. However, if the client is willing to put in the time and effort to build competence in the field of online advertising, Volo Corporate Ltd can probably assist.

Volo Corporate Ltd should not be seen as a silver bullet for achieving success in online advertising. But it does provide the foundational knowledge and tools that can help aspiring marketers get their start in the industry.

The company’s development team is always working on new tools that will further enhance the suite of solutions that Volo Corporate Ltd provides to its clients. Moreover, it continues to be on the look-out for new affiliate networks it can latch on to in an effort to provide its clients with a much wider selection of inventory.

The project scope capable of predicting future risks in your company

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Setbacks management is one of the challenges that many companies face on a daily basis, and knowing how to deal with it is key for projects to be successful. That is the reason why the ability to develop a flexible scope management plan based on several scenarios is the most required in order to become a successful project manager. There are many online apps like Sinnaps that help to establish and manage the scope using agile methodologies which detect future risks that may jeopardize the project.

What is project scope?

The scope of a project is the clear identification of the work that is required to successfully complete or deliver a project. A successful project manager needs to perfectly understand what is required in order to reach the goals in a project and design the route to get there. It is also their responsability to make sure that the developing of the project sticks to the scope during its life-cycle, and the easiest way to do so is to define the scope of the project.  One of the project manager’s responsibilities is to ensure that only the required work (the scope) will be performed and that each of the deliverables can be completed in the allotted time and within budget.

The project scope statement

The documentation of the scope of the project will explain the boundaries of the project, establish the responsibilities of each member of the team, and set up procedures for how work that is completed will be verified and approved. This document, which outlines the goals, deadlines and relationships that shape the project, is called the project scope statement.

The project scope statement needs to include certain elements in order to lay the foundation of the project and minimize the risk of change orders and disruptions without overrunning the budget.  Sticking to the project scope is critical to success. In order to do so, the essential elements that must be included in the statement are:

  • Business Case. The raison d’être of the project and the benefits expected from it.
  • Project Description. A general outlook of the project’s final report.
  • Success Criteria. The fundamental components to make the project succeed based on the instructions of the clients and stakeholders.
  • Limitations. Any issues concerning resources or technology needed for the project
  • Assumptions. Any supposition already made that may affect the final outcome.

Why is Project Scope Important?

Project scope is vital because it is the tool that project managers use to know in advance what time, cost or labor will be involved in a project. Every decision a project manager makes throughout the project will be based on the scope. And, if it needs to change, the scope will ensure the proper communication needed to success in every step of the way.

A distinct scope helps everyone to stay on the same page throughout the project, which helps manage the expectations of clients and stakeholders. Since this can be one of the most difficult tasks a project manager can face, a well-defined scope will help to avoid the most common problems: the budget falling short, the requirements constantly changing, or the final outcome not being what the client expected.

An effective scope management can help to face any of these issues and solve them successfully by clearly defining and communicating the goals to all parties involved in the project. Since the project scope helps to establish what is and is not involved in the project and dictates what is allowed or removed as it is developed, the scope management sets control factors that can be used to address elements that result in changes during the lifecycle of the project.

The benefits of a Scope Management Plan

When used properly, an scope management plan helps to effectively manage the main elements of any given project: time, schedule, budget, and quality. It can also provide other benefits such as:

  • Saves time and money
  • Helps prioritize
  • Facilitates productive communications with stakeholders and their team
  • Serves as a tool to manage client expectations, work load balancing, and team morale
  • It is applicable to public and private organizations and projects

To easily benefit from the perks of an effective Scope Management Plan, the only thing you need is an online project management software like Sinnaps, which presents effective tools for you and your team to use when determining your project management scope of work and planning the scope of business management. Sinnaps offers tools such as a live in-chat feature and a project wall greatly benefit communication which is essential in the scope management process, test mode, critical path, KPIs and much more. Project management templates -including a scope plan template are also available, and they can be modified to your specific project scope checklist.

Why Russ Ruffino’s Approach To Marketing Works

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Russ Ruffino is a hot topic in the world of entrepreneurship, and for good reason. He went from a bartender that made $500 per week to a CEO of a massive company by thinking outside the box. Today, Ruffino and his team provide consulting and coaching services to teach other business owners and entrepreneurs how to take their marketing efforts to new heights.

Ruffino’s Approach Is A Bit Different From What We Learn Early On

Early in the course of starting a business, we learn that marketing is all about getting more eyeballs to see your ads. The idea is to send out as many ads as you can for as little money as possible, generating views for pennies. If you ask Russell Ruffino, a successful marketing approach works very differently.

If you follow Ruffino’s approach, covering a wide audience of people that aren’t necessarily interested in your products or services is a waste of time and money. Instead, he teaches the value of doing your research to get to know your audience and dialing down your marketing to ensure that the people that see your advertisement will have an interest in what you have to offer.

Once you know who your audience is, it’s time to use various tools that are available to get your ad in front of this audience. Russ often talks about the use of social media advertising, in particular, Facebook ads, to make this happen. After all, social media is used by the vast majority of populations in developed regions and the tools available to define an audience within a social network like Facebook are second to none.

Why This Approach To Marketing Works

At first glance, you may be thinking, “Why would I want to advertise to a smaller audience?” The truth of the matter is that the question is a very valid one. Nonetheless, there’s a good reason. Think about it this way:

Let’s say that you are a custom wedding dress designer and you go with the blanket ad approach. Later, you find that the vast majority of people that saw your advertisement were either already married, recently divorced, or not considering marriage. Only a small percentage of the eyes that your ad caught had any interest in what you were selling. Did it really make sense to advertise to such a broad audience or was the vast majority of the money spent on that campaign wasted advertising dollars?

Now, let’s say that instead of running a blanket ad, you define your audience. This time, you use Facebook and Twitter advertising tools to make sure that the people that see your ad are female social media users that have been in a relationship for 3 or more years, but are not married. This demographic of consumers would likely have a far higher interest in your custom wedding dress. You could even define the audience further to recently engaged individuals who would have an even larger interest. In this example, how many advertising dollars would be wasted in consumers that weren’t interested in wedding dresses? The answer… virtually zero!

The Key Takeaway

The key takeaway here is that Russell Ruffino is onto something. The reason his ad works is that he essentially went back to the old way of business that is more of a slogan today. The customer is always first. Often we think of this when the customer has a problem with our products or services. However, if you think outside the box and consider the customer as the first priority in phases as early as marketing, your business will likely thrive!

How Do Retailers Target Millennial Spending Habits?

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It’s been widely acknowledged that millennials aren’t into saving. But that doesn’t automatically translate into being reckless spenders, either, because his is a generation whose motivations are different. It’s a generation of that arrived into the workforce during the recession which has ultimately influenced and shaped shopping and spending habits. Retailers have cottoned on to these habits to offer greater convenience.

Millennials tend to come in for their fair amount of criticism by the media. Whether it’s receiving flack for not being able to afford to buy a house, spending too much on sandwiches or blowing it all on a big night out at the weekend. This is an entire generation that has been affected by a much greater distrust of the financial institutions of saving, pensions and property. So what exactly are millennials spending their money on, and how are retailers and shops reacting to these spending habits?

What are millennials spending their money on?

Going out, expensive food, holidays and having a social life are all key traits of millennial spending. But that’s not the whole story, one of the identifiable aspects of this generation’s spending habits is through the use of technology, especially mobile technology. Remember millennials still want to have fashionable clothes, a car and technological gadgets. Many will inevitably use a credit card to pay for them and most will have searched extensively online to get the lowest price in order to get the best deal.

Millennials also now find themselves with more money in their pockets as the economy improves resulting in additional disposable income. Online gaming has certainly picked up on this trend to produce a wide offering of services and products, so it isn’t in anyway surprising to find this generation happy to be playing games like Fortnite, Battle Royale or relaxing with a bit of online poker, blackjack or to emulate the real casino experience without needing to leave their house through live online roulette. All of which demonstrates the immediacy of experience that this generation craves.

Retailers are mimicking millennial habits

To continue to attract and keep customers, retailers might well be repeating the mantra of great experience, ease of use, and price and this can only be done by adopting a greater mobile user experience. Millennials are constantly online, even when physically in the retail store itself. So feeding the instant desires of a generation used to getting what they want straightaway is vital for retailers to attract market share.

Services like same-day shipping, online discounts, easy return policies, rewards that encourage instore collection and the fact that shoppers are more likely than ever to browse online before purchasing instore and key factors found by a report conducted by Dealspotr to identify strong indicators of modern millennial shopping triggers.

Millennials have faced challenges other generations haven’t making their  future seem less certain. The financial meltdown they grew up in, as wages stalled, has shaped their outlook on finance, saving and buying a house. The lack of absolutes in the economy has influenced a tendency towards more immediate gratification in shopping and spending habits whether this is through same-day delivery, eating out, short breaks or more frequent online gaming habits. And retailers are finally catching up with this trend.

How to successfully promote your brand

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Finding the right method of promoting any cause can be a trying task. In the past, it meant haranguing shoppers as they walked past, cold calls and the thankless task of knocking on doors. With the advent of the internet though, the whole marketing paradigm has changed. Social media is a vehicle for reaching out to all parts of society – especially those of a slightly younger generation. That isn’t to say that there aren’t traditional marketing techniques that are still effective today, because that simply isn’t the case. Trial and error is often an inescapable part of marketing and having an awareness of marketing techniques both old and new is the best way to forge a profitable path forward for your brand.

Social media

The social media landscape is a difficult one to traverse. You can attack it from any number of angles – aggressive promotion of your cause with paid posts, attempting to craft viral content using humour, leveraging the platforms’ users’ tendency to value visual content by posting videos and images. Enticing social media users to both interact and promote with your brand by hosting competitions is another popular promotional tactic. It is important to reiterate how integral it is to your success to understand your target audience. With a burgeoning brand, it is absolutely essential. Once you have a firm understanding of exactly who your target audience is – and their likes and dislikes – you can hone your approach to social media and leave your scattershot strategy firmly in the past.

Promotional materials

In this day and age, where you can reach millions of people with a few clicks of a mouse, or a few taps on a touchscreen, any tactic that relies on an organic, boots on the ground approach seems like a relic of the past. The reality is that seemingly outdated techniques like customising and printing branded merchandise still have a place in today’s hyperconnected climate. Emulating the ubiquity of the Livestrong wristbands in 2004 is a challenge, but by harnessing the reach of influencer marketing channels, charity wristbands remain a viable method of creating awareness.

Networking

Traditional networking is a great way to cultivate relationships that benefit your brand. It is another example of a tried-and-tested tactic that remains viable in the internet age. An invitation to a business event represents an opportunity to create buzz for your brand, and one that should be seized with both hands. Connecting with people with synergistic aims can have extremely productive results.

Marketing isn’t an exact science – in spite of increasing attempts to rationalise every single strategy with hard data. With a new brand, trial and error is an important part of the journey. Over time, you’ll garner an understanding of the tactics that work for your brand and those that don’t. At a certain point, you’ll be able to put in practice what you’ve learnt and utilise only the marketing and promotional techniques that produce results.

The most common mistakes managers make

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We’ve all had bad managers. You know the ones—they inspire the stories you tell at happy hour and are the ghosts that haunt your every career move. Although you swear you’ll never be like them, how sure are you that their toxic ways aren’t tarnishing your own management skills? Sometimes we fall back on bad habits. What’s important is to put a stop to them immediately.

If you are a manager and looking for what mistakes to avoid, or an employee wondering if their manager is being a bit too much or not acting in the right way, read on to find out the most common mistakes employers and managers make. If you can learn about these here, rather than through experience, you’ll save yourself a lot of trouble!

Not fixing problems with the office

A lot of leaders should be able to see a problem, and delegate to be able to fix it. A lot of managers are able to do this in business terms, but when it comes to fixing the place that their employees actually work, it seems to become a bit of an effort. Toilets will break, sinks will overflow, light switches won’t work, the AC will start blowing out cold air in the winter.  These are all problems that every office goes through at one time or another, it is up to the managers and office managers to fix these problems so that their employees can work in a safe and comfortable environment, make sure you do not ignore these problems as a manager and take control, companies like National Business Communications are able to help you sort out all of your telecommunications and utilities to make sure it isn’t too hard.

You’re all business, 24/7

If, between the hours of 9 to 5, you are on the clock, meaning you’re always the boss, not a friend, or co-worker or a sympathetic ear, then you’re not doing it right. Managers need to be adaptable to their situations and weigh up what type of boss they need to be on a daily basis. If you judge a situation wrong and act like a boss instead of lending a helping hand, you can easily alienate your employees and be seen in a bad light. It doesn’t take a lot of effort to ask how someone’s day is going, what plans they have for the weekend or how their family is doing. But this small gesture can make a huge difference in the eyes of your employees.

Lacking boundaries

Some managers tend to forget all about the professional boundaries that are in place. The second a managers becomes way too friendly with employees, the chain of command begins to crumble and boundaries become distorted. Managers can compromise their own integrity by becoming too friendly with employees. A healthy, mutual respect should be the goal of both managers and employees. Approachability is key, but not at the expense of professionalism.

Misunderstanding motivation

Do you know what truly motivates your team? Chances are, it’s not just money. Many managers make the mistake of assuming that their team is solely doing their job so that they can get paid at the end of the month. However, it’s unlikely that this will be the only thing that motivates them. For example, people seeking a greater work/life balance might be motivated by telecommuting days or flexible working. Others will be motivated by factors such as achievement, extra responsibility, praise, or a sense of camaraderie.

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