News, Reseach and Insights...
Over 35 year-olds are the Fastest Growing Users of Facebook! 04-Mar-2009
35-54 year-olds are now the fastest growing population of Facebook users - they have grown in number by some 275% over the last 6 months (according to research by
iStrategyLabs.)
Of course, the largest user group remains the 18-24 year olds (40.8%) but the growth in "parents and professionals" indicates an interesting shift in how Facebook will be used in future.
Already, savvy online marketers are using Facebook to market to very specific populations - within a particular age range, specific geographies.
A separate study of MySpace indicated that users of these "social network" sites are happy to browse adverts and respond to marketing, as long as it is optional and they feel their personal data is secure.
Oh, yes, and there there are more females (56%) than males (42%) on Facebook (some 2% are of unknown gender - unknown to us but we are sure they know their own gender!)
To see the original report on Facebook useage, visit iStrategyLabs
10 Tips for Managing Cash Flow During a Recession 09-Dec-2008
During economic downturns, one of the main reasons businesses fail is because they run out of cash – cashflow! So make cashflow management your main priority in today’s business climate. Here are some tips on improving your cashflow:
1. Monitor your Cash Flow: Keep an up-to-date cash flow forecast, monitor your bank account, maintain a rolling cash flow projection, idenfity potential late payments and consider ways to prompt that payment.
2. Collect Payments Quickly: Know what payments are coming due and begin chasing the moment the moment they become overdue. Consider sending polite payment reminders in advance - close to the end of the payment term. Encourage your clients to pay on time (or early) by offering prompt payment discounts or could you take part-payment at order stage?
3. Consider Invoice Factoring: Many banks and specialist finance companies will pay you a portion of your invoice up-front (often 50-80% of the total value) and the remainder when your customer actually pays the invoice. Of course, they will charge you a fee for this service so it will reduce your margin but enhance cash flow.
4. Identify any Borrowing as Early as Possible: Plan any future borrowing requirements as far in advance as possible and approach your lenders to secure any borrowing or overdraft facilities as soon as you are aware of the need.
5. Credit Check your Clients: Get into the practice of credit checking clients before doing business with them. This is not an expensive process and well worth doing – particularly for new clients and for large transactions.
6. Review your Supplier Costs: Take some time to review your suppliers fees such as banking fees, telephone bills, broadband supplier and utilities. There are many deals open to new or switching cutomers. Be sure to advise your current supplier first and give them the opportunity to revise their fees – nobody wants to lose a good customer!
7. Review your Staff Costs: Analyse your outgoings and decide what is and is not essential. For example, would adjusting employee benefits (such as health insurance) or working hours may be a better option than cutting jobs?
8. Reduce Stock: Stock costs money to buy and to store. Do you need to hold so much stock? Can it be sold for a smaller margin? Can you develop JIT (Just-In-Time) suppply processes with your suppliers or within your own order or manufacturing process?
9. Keep Marketing: Marketing is more imprtnat in the bad times than the good times! Continue to grab a share of the pie. Use marketing to enhance your business and personal profile to differentiate you from the others and emphaise your strengths.
10. Don’t Panic! Every business will going through this and it won't last forever! Avoid taking "knee jerk" decisions that will affect your business proposition once you pull out of a recessionary period.
Keep Your Customers Happy - Make Your Website Easy To Use 19-Nov-2008
57% of online shoppers would be less likely to buy from a brand offline if they experience problems online (source Harris Interactive and Tealeaf Technology.)
Keep your potential customers on-side by making your site easy to use - most importantly easy to navigate!
Here are 3 basic tips on structuring your website:
Use a consistent Navigation Menu on all pages - so your customers know where they are and learn how you've structured your site. If its complex and keeps changing on each page, our customer may become frustrated and may even feel your business is not planned and organised! Keeping a menu system consistent means using the same top-level menu options, the same text in the same place on every page of your site.
Place a "home" button or link in the same position on every page - if your visitor does get lost - be nice to them and bring them home again! It may be the difference between them abandoning your site and trying to find the information they want one more time.
Always include a sitemap - it benefits both people visiting your site and the search engines ranking your site. Therefore it benefits your business!
Almost 90% of online shoppers believe online service should be at the same or better level than shopping in store. The easier it is for visitors to find their way around your site without fear of getting lost, the more likely they will:
Which can only be good for your business - whether they buy online or visit your store!
Small & Medium Enterprises Save Time and Money Using the Internet 18-Nov-2008
The Internet is proving to be critical to the success of the SME population, according to research from business insurance specialist Premierline Direct.
The firm says 51 per cent of businesses use the Internet because it gives them more control over expenditure and because they believe it is more cost-effective than using traditional methods to purchase goods or services such as insurance.
In addition, more SMEs are turning to the Internet to improve efficiency with 70 per cent of business of owners using it to reduce travel and time spent out of the office. Half now pay their bills online and 72 per cent use it for managing their finances. Purchasing online is also popular among companies, with 54 per cent buying IT equipment via the web, 43 percent ordering stationery and over a third booking travel. - Making Money Magazine
Traditional Retailers Are Losing Out if They Ignore the Internet 14-Nov-2008
A Survey carried out by online discount shopping portal www.laughingdeals.com suggests that more shoppers are choosing online shopping to get the best deal.
Registered users of the site claim they now rarely use the high street to shop for non-food items. The research also revealed that shoppers do not stick to one particular shop or brand, instead using various sites to compare prices or discount code sites to get the best deal on branded items. - Making Money Magazine
Despite News of a Recession - Online Christmas Shopping to Grow 23-Oct-2008
... Or maybe that should read "because of the recession..."
Empathy Research expect that most consumers will do their Christmas shopping online this year.
- 28% of all consumers will do most of their Christmas shopping online
- 27% of all consumers will do half of their Christmas shopping online
- 2% of all consumers will do all their shopping online
- 38% will do some of their shopping online
- Only 5% will not do their Christmas shopping online. - NMA Magazine
Improving Your Website - Using Keywords & Meta Tags 02-Oct-2008
You can improve how your web site ranks in search engine results by altering the "keywords" and "meta tags" on your site. Keywords and metatags are hidden text on your webpages which help search engines and therefore people to find what they are looking for.
Web designers know where and how to place this information in the source code. Of course there is an easier way! You can add or change metatags and keywords using a "Content Management System" (CMS) - a user-friendly application that makes it easy to update your website without the need for technical know-how.
- Place meta tags on each page on your Web site - but make them specific to that page. If you choose "flowers" you'll be competing with a lot of Web sites that offer florists. If you write "flowers for birthdays, anniversaries, births and special occaisions" people who search for all or part of that phrase are more likely to find your site in a search engine. If you feature a branded product, use that name in the meta tags as well.
- Do your own research. Use the search engines and analyse what metatags are being used by your competitors and the higher ranking sites. (You can view the source code of any webpage in most internet browsers.)
- Ask friends, family, or customers what terms they might use to search and find your website.
This is proven technique in Search Engine Optimisation (SEO) and needs just basic IT skills!
Poor Web and Call Centre Experiences Put Customers off Physical Stores Too 25-Sept-2008
Some 57% of online shoppers would be less likely to buy from a brand offline if they experience problems online, according to research by Harris Interactive and Tealeaf Technology.
The study of more than 2,000 online consumers, conducted in August, found
- 89% believed online customers service should be the same level or better than shopping in store.
- 49% who experience problems with online transactions would abandon the transaction – up from 37% last year.
- 87% believe there’s no reason why an online transaction can’t be completed on the first try.
Dr Max Blumberg, a psychologist and customers experience expert and consultant for the report, said, “It’s interesting how little online brands understand the experiences of users. Bigger brands are starting to improve but mid-tier brands are behind.”
He said brands should focus on ensuring their consumer’ privacy is secure. Other key areas identified for improvement were efficiency and reliability of user experience and a smooth fulfillment process.
The report also found that 42% of consumers who have experienced bad customer service from a company’s call centre stopped doing business with it entirely.
“We’re now in a multi-channel society and customers service needs to reflect this,” Blumberg added. - NMA Magazine