WHITE COLLAR MARKETING
BLUE COLLAR MARKETING
Your pain or your customers/clients? Both problems require substantial deliberations because they both dramatically effect your bottomline and potential revenue stream.
When we first started Toughjobs our pain point was spending substantial time trying to win over our clients. We determined that 50% of our profit was going to sales. Not only were we spending exhorbant hours winning over potential clients but we were delivering less of a product to our customers.
We solved those pain points by eliminating the sales staff and increasing our guarantees and providing more services for the same price. We stopped our “car-salesman” approach and decided that providing a better product helped us and our customer ten fold.
The best part in our business revelation was that happy clients are more important to one’s soul than one un-happy client every month.
We found that by spending more time on our projects we were able to increase productivity.
At first, business was slow without the sales team, but after a few months we realized our overall product was 30% better and 10% more profitable.
Remember for every un-happy customer you will lose a full day of work dealing with that client. Secondly, you also may lose $1000 or more with the negative ramifications of poor reviews.
Happy Customers equates to a clear conscience and most important a…happy life!
Today’s customers are looking for personalized approach to becoming your customer. Businesses either need to understand their customer from A to Z or be clairvoyant. So, today we will be sticking with A to Z.
If you believe you have a great product then it should be relative easily to get customers. Right? Unfortunately for you but other people have similar great products and your marketing today has to be “On Point”. You need to know their pains and why they need your product in every single fashion of the way.
The answers to these questions can be found when you take full advantage and an understanding of the following digital marketing analytics.
#1: Conversion Rate
When you’re running a business, you want more leads and higher sales. Which is why your site’s conversion rate is a metric is incredibly important. Although this metric is all about the outcome, it can give you immense clarity on whether your incoming traffic is relevant and if your marketing is actually helping. Having your marketing get zero conversions or low conversions means something is wrong with your approach and it’s imperative to take a closer look.
Your conversion rate can be measured depending on what type of action you want your visitors to take. If you want more of your visitors to fill out your contact form and get in touch with you, then you need to analyze how well your traffic is converting into leads. If your goal is get sales for your product, then that’s what you should focus on. The average conversion rate of your website depends on your conversion goal.
#2: Days to Transaction
The time gap between a potential clients first visit and the day they actually purchase can help you understand your users much better. So how do you get access to this insight?
Apply segmentation to your traffic channels is important to gain clarity on the “days to transaction” and how it differs from one channel to the next. People come to your website from all over the web so it is important to know what kind of traffic each channel is sending you. The higher the quality of traffic, the less likely you will have to wait for sales.
#3: Frequency And Recency
Google wants to know if your customers are loyal to you and only you. By checking how often a customer keeps clicking on your site throughout the year tells Google that your marketing is effective and that your customers value your input. In the Marketing Industry this is a TKO in the first round if you have done it correctly.
Remember that your customer is counting on you to take care of them today and in the future. Don’t look at every sale as a individual transaction. This practice alone can significantly cut down on your marketing and increase profits.
Gauging how loyal your visitors are by analyzing the frequency and recency report in Google Analytics. In order to get an accurate number, make sure to exclude new users before running this report as Google Analytics tends to include them by default.
We hope you can apply this great information into your business. If you have any questions and or concerns by all means reach out and give us a call.
EFFICIENCY VS EFFECTIVENESS
Efficiency is important for profitability. Effectiveness is important for growth. As business owners we are always looking for ways to increase profitability. We should be documenting our processes and systems, and then we should engage our team in brainstorming ways to do things more efficiently. By increasing efficiency we save both time and money, thus making our businesses more profitable.
Some of us are “bent” toward efficiency, which can be a really good thing. Some of our team members are bent toward efficiency which is also excellent. However, if we’re doing the wrong things we will not get the results we want! So stop and honestly ask yourself, “Am I getting the results I really want?”
HOW TO IMPROVE BUSINESS EFFICIENCY
The best way to improve efficiency is to measure and evaluate all of your processes and systems. Again, your employees and team members can be great help here. If you ask them you may be surprised how insightful they can be. Also, if they feel like they are making a meaningful contribution, they will have more pride and a higher level of ownership of the outcomes. So engage your team to start documenting, measuring, and evaluating every critical process in your company. As you become more efficient you will discover new capacity for production and profitability.
HOW TO IMPROVE BUSINESS EFFECTIVENESS
The best way to improve effectiveness is for you as a leader to take time on a consistent basis to evaluate, plan, and focus. This is why we encourage business owners to take a strategic retreat every 90 days. By doing this you can step back and look at the big picture. You can get clear on what results you really want, and then assess how you’re doing at getting those specific results.
Training isn’t just important to any company, it is vital.
Although there are many categories of training such as management training and or sales training, employees with Project Management skills are an important asset to any organisation.
But what does training and development, mean to your organisation?
Training presents a prime opportunity to expand the knowledge base of all employees, but many employers in the current climate find development opportunities expensive. Employees attending training sessions also miss out on work time which may delay the completion of projects. However despite these potential drawbacks, training and development provides both the individual and organisations as a whole with benefits that make the cost and time a worthwhile investment. The return on investment from training and development of employees is really a no brainer.
So what are the benefits?
Improved employee performance – the employee who receives the necessary training is more able to perform in their job. The training will give the employee a greater understanding of their responsibilities within their role, and in turn build their confidence. This confidence will enhance their overall performance and this can only benefit the company. Employees who are competent and on top of changing industry standards help your company hold a position as a leader and strong competitor within the industry.
Improved employee satisfaction and morale – the investment in training that a company makes shows employees that they are valued. The training creates a supportive workplace. Employees may gain access to training they wouldn’t have otherwise known about or sought out themselves. Employees who feel appreciated and challenged through training opportunities may feel more satisfaction toward their jobs.
Addressing weaknesses – Most employees will have some weaknesses in their workplace skills. A training program allows you to strengthen those skills that each employee needs to improve. A development program brings all employees to a higher level so they all have similar skills and knowledge. This helps reduce any weak links within the company who rely heavily on others to complete basic work tasks. Providing the necessary training creates an overall knowledgeable staff with employees who can take over for one another as needed, work on teams or work independently without constant help and supervision from others.
Consistency – A robust training and development program ensures that employees have a consistent experience and background knowledge. The consistency is particularly relevant for the company’s basic policies and procedures. All employees need to be aware of the expectations and procedures within the company. Increased efficiencies in processes results in financial gain for the company.
Increased productivity and adherence to quality standards – Productivity usually increases when a company implements training courses. Increased efficiency in processes will ensure project success which in turn will improve the company turnover and potential market share.
Increased innovation in new strategies and products – Ongoing training and upskilling of the workforce can encourage creativity. New ideas can be formed as a direct result of training and development.
Reduced employee turnover – staff are more likely to feel valued if they are invested in and therefore, less likely to change employers. Training and development is seen as an additional company benefit. Recruitment costs therefore go down due to staff retention.
Enhances company reputation and profile – Having a strong and successful training strategy helps to develop your employer brand and make your company a prime consideration for graduates and mid-career changes. Training also makes a company more attractive to potential new recruits who seek to improve their skills and the opportunities associated with those new skills.
Training can be of any kind relevant to the work or responsibilities of the individual, and can be delivered by any appropriate method.
For example, it could include:
- On-the-job learning
- Mentoring schemes
- In-house training
- Individual study
Blended learning is becoming more and more popular and as a company we have seen a definite increase in this method of training over the last year. Blended Learning is the effective combination of online learning and classroom learning. Many of 20|20’s clients prefer their staff to learn on-site rather than attend off-site training programmes – especially in industries like oil and gas where it is often very impractical to attend off-site courses. On-site learning programmes like the blended learning approach, allow 20|20 to train more people working across a larger international footprint than just the UK. This makes it much more cost-effective and allows for greater process consistency.
A business strategy, in simple terms, is a documented plan on how an organisation is setting out to achieve their goals. A business strategy contains a number of key principles that outlines how a company will go about attaining these goals. For example it will explain, how to deal with your competitors, look at the needs and expectations of customers, and will examine the long term growth and sustainability of their organisation.
The reason why having a strategy is so important is because it gives business time to get a sense of how they are preforming, what their capabilities are, and if these capabilities are able to help them grow.
Not all businesses get it right straight away. There are natural weakness within all organisations for various reasons. What a business strategy does is try to remedy these weaknesses so that companies don’t trip up and suffer their impact too greatly. Strategies look at these future risks and help develop ways in which they can overcome these obstacles.
Here are some reasons why having a strategy is important:
- A well defined business strategy will offer a guide on how your business is performing internally. Also, how you are performing against your competition and what you need to stay relevant into the future.
- A strategy can identify trends and opportunities in the future. It can examine the broader changes in market such as political, social or technological changes, as well as consumer changes, and can develop tactics so your business can modify and develop to suit these future changes.
- A business strategy creates a vision and direction for the whole organisation. It is important that all people within a company have clear goals and are following the direction, or mission of the organisation. A strategy can provide this vision and prevent individuals from losing sight of their company’s aims.
- Finally, by creating a business strategy a company can create a competitive advantage and ultimately understand more about themselves and where they are going.
Taking steps to meet your legal obligations might seem like a management no-brainer, but only fulfilling your minimum requirements might result in missed opportunities. Understanding the reasons for the various rules, laws and regulations that govern your business will help you take advantage of any benefits they offer while ensuring you stay in compliance at all times.
Compliance Demands Grow with Your Business
In its business sense, “compliance” refers to a company meeting its legal obligations, often to protect the health, safety and welfare of others. Simple examples of compliance include obtaining a business license in your town and paying your taxes. The importance of compliance is more evident as issues become more complex when your business grows. You will have expanded responsibilities regarding your workers, covering hiring, firing, discrimination, harassment, safety, wages, payroll and benefits. The way you make and sell your product and service might fall under the auspices of a government agency, such as a restaurant needing to meet health department guidelines.
Reduced Legal Problems
The most obvious consequence of compliance is that it decreases your risk of fines, penalties, work stoppages, lawsuits or a shutdown of your business. When you don’t meet some compliance requirements, such as posting an employment poster in the wrong area of your office, you might get a warning and a chance to correct the problem. In other situations, you might face costly sanctions. Failing to meet your legal obligations, such as in your manufacturing procedures or advertising methods, can also help someone suing you strengthen his case. Hire a compliance expert to make sure you understand all of your legal obligations and how to comply with them.
Improved Operations and Safety
Many business rules and regulations can help you more than harm you. For example, rules regarding discrimination and harassment help you create a better working environment for your employees, which can lead to more worker productivity. Following safety and security rules helps prevent injuries, fires or building evacuations that hurt your profitability. In addition to learning the bare minimum you need to do to meet your legal obligations, review suggested business practices at the websites of such agencies as the U.S. Occupational Safety and Health Administration and U.S. Equal Employment Opportunity Commission to learn more ways to strengthen and safeguard your company’s operations.
Better Public Relations
When you meet your legal obligations, one of the benefits of compliance is the ability to tout these on your website and in your marketing materials. For example, when you place job advertisements, include the fact that you are an equal opportunity employer. If you post your mission statement on your website, state that you do not discriminate based on race, sex, creed or sexual orientation. When you recruit new workers, highlight your company’s commitment to both physical safety and mental health by referencing key policies and benefits dedicated to proactive healthcare and wellbeing, such as extended maternity and paternity leave or free gym memberships.
Higher Employee Retention
Many business compliance issues deal with protecting employees. The more employees feel they work in a fair, professional and safe environment, the more likely they will be to stay with you. Even if you don’t harass or discriminate against any employees, if you don’t take steps to ensure none of your employees do, you can lose valuable workers. Include policies and procedures in your employee handbook that mirror your legal compliance obligations. Remember, a policy is only strong if it is enforced. Your policy should not only present the rules but also specify the procedure for dealing with infractions, such as a reprimand and additional training on a first infraction and suspension or termination for a second. Check in with middle managers or supervisors regularly to ensure complaints are handled properly.