In the modern globalized world of 2017 starting a business in another country isn’t nearly as impractical as it was several decades ago. The benefits of such a decision are numerous. For instance, aside from discovering untapped markets, there is a chance that the country you are targeting offers some government incentives. Furthermore, it might at least provide you with some fresh business environment or help bring your business back to life. Still, why is usually not the most important question. The question that is even more important is how? Well, here are some pointers.
1. Start by studying cultural differences
Studying cultural differences is the obvious first step for several reasons. When hearing this, most people first think of knowing how to behave during a business meeting or dinner, but this is just the tip of the iceberg and not even the most important reason. The main cause of this research lies in seeing how well suited is your product or service to the local culture. For example, everyone knows the case of Kinder Surprise being illegal in the US, but there are numerous opposite examples as well. Some American foods are banned in other countries, which would potentially make an idea of opening a theme restaurant in these regions completely out of question.
2. First-hand experience about target destination
Another thing you may want to do is gather some first-hand experience about your target destination. This way, not only will you learn a thing or two about the other country’s culture, but you’ll be able to experience it yourself. In other words, you want to see it from your own perspective, which is why it might be smart to get in touch with a local destination management company (DMC). For instance, entrepreneurs from Australia who hope to establish their business in the US have an option of contacting Insider Experience, while those from other cultures need to search for matching local DMC.
3. Look for incentives or grants
Once you have these first two things figured out, you’ll need to take a look at the country you intend to invest in. Some countries are so desperate to attract foreign investors that they’ll offer a wide array of financial benefits and incentives. Who knows, your industry may be one of those that are preferred by the local government, which could help ease off your burden by quite a bit. If you are still not sure about the exact region you are going to invest in, you could go by the chart of investment-friendly countries and explore options at the top of the list.
4. Monitor geopolitical occurrences
One last thing, keep in mind that the turmoil, warzone or political instability in the region may reflect poorly on the local market. The same goes with the risk of any of the aforementioned issues. Still, keep in mind that this is something that will potentially scare off all of your closest competitors and make the market ripe for the taking. Sometimes, seeing further than others and recognizing a false alarm can be particularly lucrative. Nonetheless, the risk is great as well and not always worth taking. At the end of the day, the choice is yours.
As you can see, establishing an overseas office has been made much easier than it was in the past few decades, but this doesn’t mean it’s a walk in the park. You still have to find a good local manager, a local recruitment agency and set everything up from far away. Can all of this pay off? Well, of course it can! Sure, it may require a lot of research, entrepreneurship finesse and traveling back and forth across the globe, but the success never comes without a cost.
Olaotan Richard Ceo Aims Digital Network Speaks On 5 Powerful Tips To Digital Marketing Success
Digital marketing is unarguably one of the most effective and strategic marketing tools that the internet has brought to our doorstep. Businesses all over the world are churning in millions and even billions in returns each year. Digital Expert Richard Olaotan, the CEO of Aims Digital Network, gives some powerful and winning business tips for digital marketing.
1. Visual Elements
Everyone is attracted first by what they see. Having visual elements in business is key because people can only buy what they see. And on the average, a prospective client has got to see your product or service ad about seven times before they make a purchase. Whether it is your business logo, mascot, color theme or font you are choosing, the whole idea is to catch the attention of the audience, while also maintaining that attention enough for them to remember your brand. When advertising on social media, visual creativity is key. You must, at all times, ensure that whatever it is you are putting out there is as relevant as it is eye-catching. Your digital ads must appeal to the aesthetics of viewers and will be remembered. Using images that have consistent aesthetic and gives your campaign that familiarity every time it pops up is key.
2. Invest wisely
Truth is there are several digital marketing tools and services out there, but not all of them will create the same level of impact you desire for your kind of business. So, take time to analyze your business and the service or product you wish to put out there, the age demographic you are targeting, and the location too. Afterward, you can go through the various digital marketing platforms available and select the ones that will most effectively achieve what you desire.
3. Understand the buyer process
If you can understand the journey of a buyer, you will know what marketing strategy to present at each stage. Through buyer analytics, you can deduce the actions a visitor takes throughout your website, and use this information garnered to make the buying process easier for them. For instance, Google analytics gives user history that can help you better understand where they are in their buying phase.
4. Understand your target audience
Before delving into employing digital marketing tools, it is highly advised that you have a clear understanding of who you are targeting to make your bulk purchasing audience. Everyone is a potential buyer of your product or service; however, an age range or designated people of certain classes are the best benefactors of your product or service. Those are your target audience, and in digital marketing, you engage marketing tools strategically to send unique ads to this audience.
5. Analyze your social media metrics
To see the digital marketing tool that is most effective for your product or service, Olaotan Richard advises that you analyze your data and tie it back to the direct result it produces. The best SEO company in Chicago or anywhere else would first help you find what promotes engagements for your business niche. With their finding, they can easily suggest which tool or ad style is most effective for you.
Here is Why You Should Use Web Content Filtering
In today’s hyperconnected era, the internet has become critical for your business performance. It allows your staff members to seek information, collaborate, and share files in real-time. There are also many web-based platforms that can simplify almost any aspect of your business operations, from bookkeeping to project management.
However, do your employees always use the internet the way they should?
To take a break from their complex daily activities, even your most diligent employees will surf the web, share videos, and quickly scan their social media accounts.
Even though taking a selfie and posting it on Instagram or responding to a friend request on Facebook takes only a few seconds, stats say that these activities may harm the overall workplace performance and cause greater costs. According to Office Team, employees spend 5 hours weekly on non-work activities, which may lead to a worrying loss of $15.5 billion in lost productivity.
One of the most effective solutions to this problem is web content filtering.
Web Content Filtering Defined
When you’re filtering online content, you’re using a piece of software to identify and exclude any forms of inappropriate or dangerous content for your company. These tools recognize character strings that, if matched, indicate that the content is not appropriate for your organization. These could be suspicious files, spammy website content, pornographic content, and even social networks.
Now, let’s see what the benefits of web content filtering are for your business.
Tightened Network Security
The number of cyberattacks is growing. Unfortunately, it’s unlikely that this trend will die down in the next few years. Namely, today’s online hacks have evolved, which makes them harder to predict and recognize.
Above all, most of them target small businesses. Research says that more than 70% of companies that are hacked are SMBs. The reason for that is simple – small businesses still don’t understand the importance of cybersecurity and are not equipped to fight sophisticated online threats.
One of the most frequent types of cyber threats is phishing attacks. The hacker’s goal is to deceive a user to steal their valuable data. This form of online breaches involves a myriad of tactics that are carried out through emails, social networks, IM platforms, etc. Some well-versed cybercriminals even build fake sites that look trustworthy and then ask users to provide their sensitive data.
Unsurprisingly, employees’ negligence is the greatest cybersecurity risk. Most of them will click on spammy ads, odd links, and download files from unreliable resources without thinking about the consequences of these activities.
This is where web filter solutions help. Namely, they provide services like information control, URL filters, traffic control, proxy control, behavior analyses, and online bandwidth management to prevent infected files from reaching your employees’ inboxes. And, even if an employee receives a malicious file or link, web filters will instantly block their access to such content.
Greater Workplace Productivity
Social networks are often being referred to as workplace productivity killers.
Still, is banning them a good option? Probably not.
First, this may hurt employee satisfaction and indicate that you don’t trust them enough.
Second, social networks are important for building brand awareness. When reposted on your company’s profile, your employees’ behind-the-scenes photos and videos may help you humanize your brand.
However, web content filtering lets you set stricter rules on what kind of content should be accessed at work. You don’t have to block social networks, but you can always filter out not-suitable-for-work (NSFW) websites, such as online shopping platforms, as well as gambling, torrent, gaming, or entertainment sites.
Maintaining Brand Reputation
Your employees’ lack of knowledge may not only hurt your network’s security, but also ruin the reputation your company has been building for years. Just remember that U.S. Airways’ social media manager accidentally published an X-rated photo on the company’s Twitter account. Even though they reacted fast by deleting the photo and apologizing, they still received lots of negative press.
Therefore, web content filtering may be one of the most effective ways to maintain a spotless brand reputation in the digital world packed with spam. URL filtering and real-time monitoring of online activities will reduce the disasters caused by employees misusing the internet, such as publishing offensive content, illegal file downloads, or publishing inappropriate content on your corporate accounts.
The power of web content filtering goes far beyond improving cybersecurity. This is one of the most effective ways to limit your employees’ access to non-work sites and, in this way, increase their productivity and prevent them from sharing any inappropriate content.
Sure, to get the most out of this strategy, don’t forget to educate your employees. They need to know how their use of the internet impacts the overall image of the organization. Most importantly, they should be aware of the major cyber threats and know what to do if they come across them.
Hope this helps!
5 Tips to Improve Customer Experience
One of the biggest challenges that a lot of Australian enterprises are struggling with is the question of how to improve your overall customer experience without changing too much of their current business model. The reason why this is so important is due to the fact that a customer experience tends to be the number one reason why people return to your business and there’s an estimate that it’s five times cheaper to retain a customer than gain a new one. In order to make all of this work to your benefit, here are five tips to improve your overall customer experience.
1. Simple navigation
From the moment people enter your website, they need to be able to discern what is what and where they should go next. Some people make a mistake of presenting website visitors with too many clickable elements and information early on, in fear that they won’t be able to see all that their website has to offer. The problem is that this only makes it harder for people to make up their minds. One study shows that the more option you present a person with, the less likely they are to actually make a choice. With that in mind, make sure to let them explore your domain one step at a time.
2. Listen to customer feedback
The next thing that you should consider when you decide to improve customer experience is asking people what they want. Sometimes you don’t even have to ask, seeing as how people might already be actively complaining about what your business lacks. So, check out some reviews and social media comments with your brand mentions in order to see what people want. Other than this, polls and surveys can also be a great source of information and you should never neglect this vast potential. This way you can get the answers on questions that you find relevant, thus gaining actionable information instead of raw data.
3. Look for professional help
In the past, entrepreneurs, especially those running digital businesses had to face all of these ordeals on their own. Nowadays, on the other hand, both locally and globally, it’s quite easy to find affordable professional help. For instance, as an entrepreneur behind an NSW-based enterprise, you can just look up management consulting firms from Sydney and schedule a meeting. Due to the fact that these agencies specialize in improving your company’s interaction with its customers, the improvement to the customer experience is both immediate and easily noticeable.
4. Be consistent
The next thing you need to understand is the concept of nostalgia and the fact that people tend to be emotionally entangled with familiarity. In order to exploit this phenomenon to your own advantage, you need to learn how to become more consistent. For this to work, your brand needs to have its own identity and even if you decide to change a thing or two in order to stay in touch with the time, this change shouldn’t be too drastic. People don’t usually react positively to change, especially if it’s drastic or sudden. For your content marketing, make sure that you have the same people behind it all the time.
5. Don’t be too pushy
There’s a saying that if you love something, you should let it go. The same principle applies in the business world, as well. You see, by being too aggressive with your post-sale follow up you’ll scare people away. People are always interested in what they need and rarely in what others need from them. The fact that you want them to come back means nothing to them, however, if you make a good first impression, once they need you, they’ll be sure to come back.
As you can see, each of the above-listed tips is fairly easy to implement and it doesn’t require you to deviate too far from the path that you’re already on. In other words, you gain quite a bit without having to make unnecessary sacrifices or compromises. This is a clear win-win scenario and a great boost for your business model.