Published on: 18 February 2019
Last Updated on: 08 August 2019
The ebb and flow of the markets provide many opportunities to make money. The goal is to consistently generate gains and limit your losses. There are several factors that affect trading decisions. New information, which could include economic data, or an earnings release will change the course of the markets. While there are a number of factors that will alter the price of an asset in the long term, the most common driver of short-term changes is sentiment.
Market Sentiment:
The price of security is based on supply and demand. At each price level, the market is attempting to determine if supply and demand are in balance. When supply and demand are at equilibrium, sentiment becomes neutral and prices trade sideways. Sentiment will determine how a market reacts to any given price level. Measuring sentiment is an important tool that can help you determine if prices are at equilibrium or not. Many investors measure sentiment using a technical indicator such as the relative strength index, but you can also use market psychology to determine how others feel about the future direction of a security or currency pair.
How to Measure Sentiment:
Sentiment analysis uses several factors. This could include economic events, political events, as well as changes to the price of a security. Sentiment includes both fundamental and technical issues and measures how the market feels toward a currency pair or commodity. One way that investors measure the fear in the US stock market is to evaluate the levels of the VIX volatility index. Any volatility index on a specific asset would measure the same market psychology. When the VIX rises, options traders are more concerned about large moves due to fear. When the VIX declines complacency sets in.
New Information:
There is a prevailing thought that all the available information is incorporated into the price of a security. Since the markets are efficient, any new information is immediately priced into security. New information usually changes the price but might not change whether security will trade into a different range. When prices move from one range to another, there is generally a shift in sentiment which could further induce the price to continue to trend.
New information is either expected or unexpected. Expected news can be priced in or not. For example, ahead of an economic release, economists will estimate the outcome. The average estimate is likely priced into every security. If the actual release is different from the expected release, the value of the security will change to reflect the new information. While the moves following expected news can be volatile, the fact that news is expected allows traders to be ready. Unexpected news can cause significant volatility. For example, if a war breaks out or currency is devalued, the reverberations can be extreme. When you trade the markets, you need to be aware that you are taking a risk, and you need to be aware of how to handle unexpected news if it arises.
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Creating a business is always exciting. The challenge of building an organization from the ground up is more than exhilarating.
Running the company, however, is another story. It can be a chore (and sometimes, even a big bore), especially when foolproof systems are not in place.
So if you're looking to improve your business performance and spend more time outside the office, you need to recognize the value of business systems.
What are Business Systems?
Business systems are a series of procedures that help employees implement a specific type of service consistently.
These systems usually come with business processes, which many know as standard operating procedures. With this series of checklists, the team can follow a work step even without undergoing training.
Why Companies Need Business Systems and Processes
It goes without saying that these help you effectively manage day-to-day operations. Without this, your company will crumble.
Just think of it this way: it's like losing a vital piece of the puzzle when one management worker resigns or calls in sick.
That said, the value of these systems are summarized into these five benefits:
A Business System Provides Consistency
Zak Frazer once said: "The key to success is consistency."
With systems and processes, you deliver consistent services to your customers. After all, these procedures and checklists keep your efforts aligned.
When you have happy customers, they will keep coming back to your business. You generate the revenue you need because they keep spending money on your services over and over again.
Business Systems Improve Service Efficiency
Some companies fail to be consistent because they don't have systems and processes to follow. The employees do one thing, while the management does another.
So if you don't want to sow some business discord, you need to have a system in place. That way, everybody meets the objective because everyone follows the same written process.
Business Systems and Processes are Indispensable Assets
Say you want to sell your company's stakes in the future. You have a bigger chance of getting investors if you have a business system in place.
It's your way of telling them that you have an established work process, a solid customer base, and a steady stream of sales.
Businesses With Systems Scale Faster
When you have a system in place, you can focus on other things. You're no longer bound to implementing any one program. Since the business process offers the support you need, you get to work on other strategies instead.
So if you want unprecedented business growth, you need to have system resources in place. That way, you can develop other products and services that appeal to other customers.
A Business System Can Bring Down Labor Costs
While no software can replace the human touch, there are some business operations that systems can efficiently complete. Many of them are mundane and repetitive, which is a waste of money on your part.
By giving these non-essential processes to business systems, you can make the most out of your team. For example, you can install software that helps them answer generic queries. That way, your workers can spend more time creating marketing strategies instead.
The Different Business Systems You Need to Have in Place
As mentioned, systems offer many benefits to businesses. So if you want to be as successful as every other owner, here are the four essential systems you need to have in place:
Marketing System
Marketing is all about promoting your products. It allows you to have a good flow of leads.
With this, you can market your items without putting in a lot of effort. Think of it as a passive way of generating customers for your business.
Sales System
With marketing systems bringing in leads, it's up to the sales system to nurture them.
Such programs make customer follow-up easier. Your employees could work on another strategy since the business systems can do this repetitive thing for them.
Fulfillment Systems
Now that you have sold your products, you have to make sure that the delivery process is seamless.
You can please your customer with fulfillment programs that do everything for you. All you just need to do is wait for them to pick up the parcels at your place!
Administration Systems
If you've managed several workers, you know how stressful it is to do clerical activities. With administration systems, however, you don't have to worry about this aspect of your business.
Such programs can help you with human resource management, customer accounts, and reception. Now, all you need to do is focus on business growth, just like other business owners do!
As you see in this article, quality business systems will benefit your organization and help you scale to greater heights. Grow your business right now by setting up these processes as soon as you can.
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The product launch is a proud day for your company and a vital one as well. If you want that product to succeed, you need to find a meaningful way to connect with the customers. That can be more challenging than you might realize at first.
We’ll run down the three things you should do to make sure your product launch works. Doing these three things won’t guarantee the product’s success, but it gives you the best chance to get the market penetration for which you’re undoubtedly hoping.
Product Launch Tips that Dramatically Increase Your Success Chances
There are various product launch tips that can increase your success chances significantly and some of the major ones we have described below. Have a look!
1. Announce the Product Via the Right Venue or Channel
As you’re getting ready for your product launch, your company’s employees might be a little bit nervous. Your R and D department might have worked on that product for weeks, months, or even years. You might need this product to succeed if your company is going to remain afloat or gain ground over your competitors.
If you want to give that product the best successful chance, you should announce it at the right venue or using the proper channel. That venue might be your website, but it could also be a podcast. You might also set up a press conference and announce the new product that way.
If your company is just a startup, though, a press conference is probably not a possibility. You haven’t established yourself yet, so there’s no reason why the press would care enough to show up.
You might choose social media as a way to announce your new product is out now. If you do, you’ll need to figure out the right platform to use.
You should utilize what social media platform you know your customers use the most. Using an online video editor, you can create a video introducing your product. It could be Facebook, Twitter, Instagram, YouTube, or something else.
You might also announce the new product via your website. Again, that’s only going to work if you’ve already established your company and a good amount of people know about it.
2. Build the Anticipation to a Fever Pitch
You also need to run a marketing campaign before dropping the product to attract as much attention as possible. Think about the marketing leading up to a new movie or album release. Consider the various ways the marketing team drums up as much anticipation as possible.
Exactly how you can promote the product before the launch depends on several factors, such as what the product is, how much money you have to work with, and what channels you have available. You might release featurettes on your YouTube channel about the product for months in advance. You can offer related merchandise if that’s practical.
You might offer a limited edition of the product for those who preorder it. Try to fill up the waitlist on your website. You could include a special giveaway that comes with the product, but only for the first 500 customers.
3. Make Sure Your Product Fills a Need
The last thing you need to think about is whether your product addresses a customer pain point. The pain point is something the customer wants or a need they have.
If you do a lot of market research using advanced analytics and customer surveys, you should develop a very clear idea of what your customers want. If you don’t bother to do that, you’re leaving the product’s success up to chance.
That can’t happen, especially if you’ve sunk a lot of time and energy into this particular product. If you miss the mark when you feel like you’ve determined what your customers want, that can be an error from which your company might not recover.
Remember that if you’re deviating too much from what your customer base has bought in the past, you’re taking a significant risk. If you launch a product that’s a major departure from your prior offerings, offer it in a much more limited capacity. If it catches on, you can mass-produce it.
You have a much better product success chance if you derive your product from what you already make. If you’re a clothing manufacturer, for instance, and you decide to expand your brand to something wildly different, like office supplies, the odds are against it succeeding.
The Final Thoughts
You’ll need to plan the launch meticulously, with painstaking research and customer focus groups beforehand. If you do all that, you can probably count on a strong reception. With any luck, your product might go viral. It could be what propels your company to new recognition and previously unseen success. Hence, this is all about product launch tips that will help you to dramatically increase your success chances.
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Email marketing is crucial in driving brand awareness and bringing quality leads to your website.
Your email list is the most valuable asset you can own in your business, serving as your virtual distribution channel. However, it's essential to recognize that not all customers will immediately purchase. In fact, on average, you will get less than a 5% conversion rate on purchases, which means you need to follow up with the other 95%. This highlights the importance of understanding the differences between direct mail vs digital marketing and how each strategy can complement your overall marketing efforts.
In short, email marketing provides a powerful tool for encouraging interactions with your brand. When a customer subscribes to your periodic newsletter, it is an indication that they have a desire to engage with your brand. According to marketing tests and studies, email marketing affects consumer behavior and can convince consumers to visit websites for more information or make a purchase.
Unfortunately, email marketing can be quite complex due to the sheer number of variables affecting email marketing campaigns. Therefore, consultants and marketing managers fail to achieve the desired email opening rates and click-through rates. Ultimately, marketing managers tend to ask a question like:
Why did they receive it but never opened it?
Did they open it but never took the desired action?
Why are they unsubscribing?
7 Most Common Email Marketing Mistakes
In this post, we uncover the most prominent email marketing mistakes consultants can make. Therefore, if you have been struggling to increase the CTR through email campaigns, you have reached the right page. Let us jump in straight away.
1. Not Personalizing The Email Campaigns
Personalized email campaigns can be a powerful tool. However, recent research revealed that 72% of consumers say they only engage with personalized messages. You are missing out if you are not taking the time to customize your email!
Personalizing email campaigns involves collecting data related to your target audience and crafting custom content. Remember that the success of your email campaigns depends on how well you utilize the available data to come up with relevant content that target consumers will be willing to consume.
Here are essential arguments to help convince you of the benefits of personalization in marketing.
Email personalization gives you the ability to reach specific audiences
Personalized emails stand out from the crowd by ensuring better and unique content that leaves special memories for your customers.
Personalizing your email campaigns helps to build stronger and personal relationships with your customers.
Therefore, start researching about your customers and ensure you personalize every email that you send to target customers. Ultimately, you will start enjoying higher email open rates and increased CTR to your money website.
2. Penning Poor Subject Lines
No matter what your goal is, your audience will judge emails by the subject lines. According to Hubspot, 47% of email marketers test different email subject lines to optimize their email performance. Thus, it is essential to create catchy email subject lines to get people to open the email and convert them into customers.
So, what makes a great subject line? Here are essential tips to guide you when creating an email subject line.
Communicate urgency and scarcity in your email subject lines to compel readers to act.
Maintain some sense of curiosity to pique the reader’s natural interest.
People love new things and experiences. Thus, do not forget to mention what is on offer.
Incorporate trending topics to feel relevant and compel readers to click to read.
Mention your audience to show you truly recognize them, and you are not merely after marketing.
As you write personalized email campaigns, do not leave the subject line to chance. A catchy email subject line attracts the audience's attention and leads them into taking action. But, on the other hand, if your subject line lacks the above qualities, you start on the wrong foot!
3. Not Including ONE, Clear Call To Action
As you already know, your content needs a call to action. Whether you are writing a blog post, a landing page, or an email, ensure your readers know what action they need to take. Without a clear call to action, you leave them to figure out what you want them to do. In that regard, before you compose an email, define a clear vision of its purpose. What outcome do you expect? Do you want them to subscribe, share or buy? Make sure your intention is clear to the audience. So, here are a few suggestions we think will help you come up with a great call to action:
Use bright colors, bold text, or large buttons so that the CTA is easy to find
Use words that foster curiosity and avoid bland or vague wording
Do not end up including multiple CTAs
When appropriate, repeat the same CTA more than once
Remember, the CTA is the magic button that leads the readers into taking the desired action.
4. Not Looking Professional
The fourth and worse mistake that consultants do is sending emails that appear sketchy or amateurish. Most readers will not be willing to give you the benefit of the doubt. Thus, so long as you are not sending professional emails, you can forget about conversions. To maintain a high level of professionalism with every marketing campaign, follow these tips:
Proofread every email and correct spelling or grammar mistakes
Avoid attachments
Use respectful and easy to understand language
Professional emails attract higher conversion rates and encourage readers to share your message.
5. Sending Emails from A Donotreply@domainname.com
Emails from no-reply are uninviting and often end up marked as spammy emails. Thus, if you send marketing emails from a no-reply email address, do not be surprised if your open rate is still low.
Always allow your recipients to get back to you, and include a phone number to reach you or the relevant persons quickly. Include your name and designation and links to social media to help the customers contact you. Sending an email from a person within your company could be a competitive advantage.
6. Ignoring Mobile
According to statistics, 85% of users use Smartphones to access email. Thus, it is imperative to make marketing efforts seamless on mobile. Unfortunately, mobile email marketing is a calling that most consultants tend to resist for far too long because they do not understand what it means to go mobile. The reality is that emails that do not display correctly on mobile end up in the trash folder within seconds.
To optimize your email marketing for mobile, follow these essential tips:
Use a responsive or scalable mobile template
Utilize a pre-header that includes a summary of the purpose and call of your email to action
Keep the email short, sweet, and to the point
Ensure finger-friendly and easy to find CTAs
Leverage images to enhance your emails
Ignoring mobile when designing an email marketing strategy is the worst of the mistakes you could be making. Instead, talk to an Email service provider to find out the various enhancements you can include in your email campaigns to ensure mobile-friendliness.
7. Wrong Links, Broken Links, Or No Links At All
Sending out emails with the wrong link is as good as not sending the email in the first place. For example, you could create a beautiful and professional email, but you will not measure the CTR if no links direct the visitors to a landing page.
Therefore, make sure you include relevant links. Then, test the links to make sure they direct the reader to the right page, and the page loads fast. Otherwise, your email campaign will not be fruitful.
Conclusion
We have looked at the top mistakes coaches and consultants make when it comes to email marketing. While email marketing offers a huge potential to your business, making these mistakes repeatedly will hurt your campaigns. Talk to email marketing professionals for assistance when it comes to email marketing campaigns, creating automation, and developing a solid follow-up system.
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