Published on: 09 May 2018
Last Updated on: 12 September 2024
There are two sides to offering coupon codes in your business. One side shows that you could make more sales with coupons while the other side shows you could lose profits after discontinuing the coupon purchases. Both sides have a point, and you should pay attention to these things while coming up with a discount strategy. Many businesses still view couponing as a perfect way to drive customers and sales without experiencing revenue losses. If you are considering using coupon codes on your business, here are some of the advantages and disadvantages of the idea.
Advantages of Offering Coupon Codes :
Businesses like Vistaprint have been offering coupon codes with the idea of attracting first-time buyers and it is working really well. You could also attract customers with this method without having to give them more discounts on future purchases. Use it as a customer acquisition strategy.
If you have inventory that you want to unload quickly, offering coupon purchases is the best way to trigger quick sales. It will influence more people to prefer your products over those on other stores as long as the quality matches. You could also use coupon codes to encourage brand switching where buyers from another brand are encouraged to buy from your brand because of the pricing lure. Getting customers to make the first purchase might lead to add-on sales for products that were not discounted, which could help to raise revenues.
Disadvantages of Offering Coupon Codes :
This is a costly decision. You need to estimate the correct amount you can afford to give away. If the profit margin is not impressive, you won’t find coupon sales profitable, so it’s only sensible to use coupons on products that have a good margin. Not sustainable as a promotional strategy because customers may only choose the discounted product and never come back. Some businesses have experienced unprofitable Groupon promotions because customers only pick discounted items and only return when there are more discounts to be exploited. Could affect the image of the business as this in some cases may make it look cheap, which in perception may send a message that the quality offered is not good. This strategy could also encourage customers to always wait for discounts and only buy when you are offering discounts.
Also remember that offering discounts, especially to first-time buyers, could alienate loyal customers who are made to feel they deserve the discount more for sticking to the brand.
Conclusion
With the points discussed here, you can see how adding coupon codes to your business could affect its performance. You need to be careful with offering discount codes as this could also damage the business by lowering profitability even with more sales. Only use this strategy if you are sure the revenues to be gained are enough to get the business running smoothly. It is a perfect way to raise cash and you can clear inventory that has been stuck for a long time. Just make sure it does not lead to losses.
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Trade shows are important to any business. It is the most cost-efficient way to market and it is the best way to reach people, and in order to make it successful, it is vital that all the cogs to the wheel work in perfect harmony.
Integral to the success of the company during a trade show is the show booth. However, a lot has already been said about the stands. What is normally overlooked is the people who man them, and the staff that makes the exhibition booth decoration in Las Vegas work. Without these individuals, your booth, no matter how beautiful it looks, it will be a disaster.
On the other hand, staffers should not just be assigned nonchalantly. Serious thought should be put into picking them. Then, there is the question: How should you pick the ones to man the stations?
MIND YOUR LANGUAGE:
Not the words spoken any staff member helping run a business can manage to strike a conversation. Also, most of the time, we are mindful of the words we use in front of clients. What you should look out and be mindful of is your non-verbal communication because this has a huge impact in the performance of your company.
Certain tips that you should remind your staff members:
Always pay attention to visitors, even those who are not stopping by
Have a pleasant mood every time you are in front
Talk to clients and not with your colleagues, unless needed
Listen to your customers
Greet them politely, with enthusiasm, and graciously express gratitude regardless if a deal was struck or not
Avoid showing signs of being lazy i.e. leaning over the exhibition booth decoration in Las Vegas
Smile
These are things that should be instilled in staffers already, but these simple things tend to be overlooked when in a pressure-packed area. So, they may just be reminded every now and then, or, pick those who are already innately doing these to avoid making any accidents.
KNOW YOUR ROLES:
It would not hurt if everyone has their specific roles to cover. At least this way, someone is always there to cover certain topics at any time. Although, all staff members should at least know the most basic answers to any query, but they should also know who the client can talk to if it goes beyond their field. That is why, the stand should always be manned by someone who is an expert about the entire operation.
Being a master with one role is better than knowing everything but knowing all the answer to one.
NOT A TIME TO DINE:
This is not saying that staff members are not allowed to eat or drink. However, showing attendees food and drinks left around the exhibition booth decoration in Las Vegas just appear unprofessional. Eat at your own time, and if it cannot be avoided, do not leave any trace that visitors can see. Showing a professional and serious brand is huge in a trade show, and food visible to the public just makes you a slob.
Staffers are just as important as the booth itself. Every piece of the wheel should turn perfectly to make a well-oiled machine, and ensuring a good staff is adamant to have a successful day.
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Featured Image: xibitsolutions.com
The importance of a well-managed infrastructure in the success of a business cannot be underestimated. A properly maintained commercial property ensures efficient delivery of services, a safe and healthy working environment, optimum worker productivity, and customer satisfaction. It adds value to an organization, so it’s important to keep it in great shape.
Unfortunately, facility maintenance, upkeep, and repair can take up a massive chunk of a business’ operational expenses. The good news is that service contractors are specializing in commercial property maintenance without straining your annual budget. Outsourcing this business aspect is a cost-effective alternative that comes with several other benefits. Many businesses are now adopting this business structure. In fact, the global facility management market was estimated to reach $1.314 trillion in 2018.
With the help of reliable building maintenance services, costs are controlled, resources are maximized, standard services are delivered, and compliance with health and building codes is ascertained.
How to choose the right facility maintenance provider?
Facilities maintenance is an important part of your organization’s day-to-day operations. Once you outsource it with a third-party provider, the facilities management services become an integral part of your business. Their quality of service, whether it is good or bad, will reflect on your business.
Working with the inexperienced or ill-equipped provider can lead to a horrible partnership that can adversely affect customer satisfaction, business operations, and revenue potentials. This makes it vital for businesses to choose only the best.
Facility maintenance specialists at CSG share with us some things to keep in mind before zeroing in on a provider for your business.
Reference:
Any company can make an impressive marketing material. However, make sure to verify the claims of a potential provider. Ask for references that can vouch for the quality of services they offer.
Training and experience:
Employees of the facility maintenance provider become a de facto member of your company. They play an essential role in your business’ daily operations. As such, you want a provider with skilled, trained, and qualified personnel so that your clients get the best service experience. Furthermore, this should also ensure that they can execute their duties properly. Ask about development and training programs for service employees. Look for a company that considers continuous this a priority.
Flexibility:
Choose a commercial property maintenance contractor with a wide range of capabilities. A reliable facility maintenance services must be versatile and be able to respond to the ever-changing needs of your business quickly. This will ensure consistency in the delivery of services, efficient work processes, and reduced costs associated with hiring a different contractor. If your business is expanding, consider working with a company that offers scalable services or customizable plans and programs.
Supplies and equipment:
An excellent facility maintenance provider should be well-equipped with adequate and appropriate supplies and equipment. Check their inventory to validate their claims. This should help you assess their capability to meet your building maintenance needs. Verify the quality of the equipment and products they utilize.
Management and leadership:
This is a crucial aspect of any organization as it can have a significant impact on how tasks and responsibilities are accomplished. Poor leadership can lead to failed delivery of services. You want to know who will be managing the account. Explore their existing organizational culture and see how policies are utilized to achieve goals.
Transition process:
With proper risk management and transition plan, a change in facility maintenance provider could lead to disruption of services. As such, you want to check how the provider can guarantee a smooth handover and avoid any interruptions that could affect business operations.
Insurance:
To avoid any liabilities while their personnel is working on your premises, make sure to check their current insurance policies.
Availability:
Inquire about any blackout times in a provider’s schedule. Also, check about how they deal with sudden requests for additional personnel or new tasks.
Certifications:
Certifications such as CIMS Green Building, Occupational Safety and Health Administration (OSHA) compliant, and Cleaning Industry Management Standard (CMS) ensure competence and compliance of a prospective contractor. Inquire about the certifications that the provider currently hold.
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Wireless network management refers to configuring, monitoring, and optimizing a wireless network to ensure optimal performance, security, and reliability. Managing a wireless network can be challenging, as wireless networks are more susceptible to interference and security threats than wired networks.
Wireless network management is critical for businesses to ensure their wireless networks provide optimal performance, security, and reliability. Proper planning, configuration, monitoring, and security measures can help ensure a wireless network meets the organization's and its users' needs.
If your business is looking for network management services, the services are available at Splynx.com`s website.
Top 3 Best Practices For Enterprise
Here are three best practices for the enterprise that can help improve productivity, security, and overall business operations:
Cybersecurity
In today's digital age, cybersecurity should be a top priority for all businesses. Enterprises should implement a robust cybersecurity strategy that includes regular software updates, strong password policies, multi-factor authentication, data encryption, and regular security training for employees. A strong cybersecurity strategy can help protect against cyber threats like data breaches, malware, and ransomware attacks.
Cloud Computing
Cloud computing can offer many benefits to enterprises, such as increased scalability, flexibility, and cost savings. However, it is important for enterprises to implement a cloud computing strategy that includes proper data backup, disaster recovery, and data encryption. Enterprises should also choose a reputable cloud provider and carefully review their security and compliance policies to ensure their data is safe.
Remote Workforce Management
With the rise of remote work, enterprises should implement a remote workforce management strategy that includes secure remote access, virtual private networks (VPNs), and collaboration tools.
Enterprises should also provide regular training for remote employees to ensure they know security best practices and company policies. Enterprises should also establish clear communication channels and performance metrics to ensure remote workers are productive and engaged.
Overall, these best practices can help enterprises improve their cybersecurity posture, take advantage of the benefits of cloud computing, and effectively manage a remote workforce. By implementing these best practices, enterprises can improve productivity, security, and overall business operations.
4 Key Benefits Of An All-In-One Wifi Network Management Software
An all-in-one WiFi network management software can provide several key benefits for businesses. This includes -
Full Remote Network Recovery With Easy Backups And Real-Time Alerts
Full remote network recovery with easy backups and real-time alerts is a comprehensive solution for businesses to ensure that their network is always up and running, even during a disaster.
Here are some key features of this solution:
Remote Backup and Recovery: With this solution, businesses can remotely back up their entire network, including data, applications, and configurations. This ensures that the network can be quickly and easily restored to its previous state in the event of a disaster.
Real-Time Alerts: This solution provides real-time alerts for network issues, such as connectivity problems, security threats, and performance issues. This allows businesses to quickly address any network issues before they become major problems.
Remote Monitoring: With this solution, businesses can remotely monitor their network in real-time, including network performance, bandwidth usage, and security threats. This allows businesses to identify and address network issues before they become major problems.
Comprehensive Recovery Plan: This solution includes a comprehensive recovery plan that outlines the steps that need to be taken in the event of a disaster. This ensures that businesses are prepared for any eventuality and can quickly and efficiently recover their network.
Proactive Support: This solution includes proactive support from experienced network engineers who can assist with network issues, backup and recovery, and disaster planning.
On-Demand Scalability For MSPS
On-demand scalability for MSPs (Managed Service Providers) is a solution that allows MSPs to quickly and easily scale their services to meet the needs of their clients.
Here are some key features of this solution:
Cloud-Based Infrastructure: This solution is built on a cloud-based infrastructure, which allows MSPs to provision resources quickly and scale their services up or down as needed. This ensures that MSPs can provide the resources their clients need without having to invest in additional hardware or software.
Automated Provisioning: With this solution, resources can be automatically provisioned in real time based on the demands of the client. This ensures that MSPs can quickly respond to client needs and provide the resources needed to meet those needs.
Flexible Pricing: This solution provides flexible pricing options that allow MSPs to pay only for the resources they use. This ensures that MSPs can provide cost-effective services to their clients while still maintaining profitability.
Comprehensive Management: This solution includes comprehensive management tools that allow MSPs to monitor and manage their services from a single dashboard. This ensures that MSPs can efficiently manage their resources and provide quality client services.
Robust Security: This solution includes robust security features that protect MSPs and their clients from security threats. This ensures that MSPs can provide security services to their clients and maintain the trust of their clients.
Reduce Operating Costs Of Wifi Networks
Reducing the operating costs of WiFi networks is important for businesses to improve their bottom line.
Here are some ways businesses can reduce the operating costs of their WiFi networks:
Upgrade to Energy-Efficient Devices: Upgrading to energy-efficient devices can help reduce the operating costs of WiFi networks. Energy-efficient devices consume less power, which results in lower electricity bills for businesses.
Optimize Network Performance: Optimizing network performance can help reduce the operating costs of WiFi networks. By optimizing network performance, businesses can ensure that their network is operating at peak efficiency, which reduces the need for additional hardware and software.
Implement Network Management Tools: Network management tools can help reduce the operating costs of WiFi networks. Network management tools give businesses visibility into their network, allowing them to quickly identify and address issues before they become major problems.
Implement Automation: Implementing automation can help reduce the operating costs of WiFi networks. Automation can help streamline network management tasks, reduce the need for manual intervention, and minimize human error.
Implement Cloud-Based WiFi Networks: Implementing cloud-based WiFi networks can help reduce the operating costs of WiFi networks. Cloud-based WiFi networks eliminate the need for on-premise hardware and software, reducing maintenance, upgrades, and security costs.
Faster And Simplified Network Management
Faster and simplified network management is important for businesses to improve efficiency and reduce operational costs.
Here are some ways businesses can achieve faster and simplified network management:
Use Network Management Software: Network management software can help businesses manage their network more efficiently by providing a centralized dashboard to monitor and manage network devices, traffic, and performance. This can help save time and reduce the complexity of managing a network.
Automate Routine Tasks: Automating routine tasks such as backups, updates, and configuration changes can help businesses save time and reduce the risk of human error. This can also free up network administrators to focus on more strategic tasks.
Implement Remote Network Management: Remote network management enables network administrators to manage the network from anywhere, anytime. This can help reduce the time and costs associated with onsite management.
Use Cloud-Based Networking: Cloud-based networking provides businesses with a scalable and flexible network infrastructure that can be managed through a single portal. This can help simplify network management by reducing the need for on-premises hardware and software.
Leverage Artificial Intelligence and Machine Learning: Artificial intelligence and machine learning technologies can help businesses manage their networks more efficiently by analyzing network data and providing insights and recommendations for optimization.
Conclusion
Wireless network management is critical for businesses that rely on wireless connectivity to operate. Implementing best practices for wireless network management can help businesses optimize their wireless network for performance, security, and scalability.
By following these best practices, businesses can ensure their wireless network is optimized for performance, security, and scalability and is better equipped to meet the demands of an increasingly digital business landscape.
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