Deprecated: Function get_magic_quotes_gpc() is deprecated in /home/dubsterir/public_html/wp-includes/formatting.php on line 4358

Revenue-Based Financing for Technology Companies With No Hard Assets

[ad_1]

WHAT IS REVENUE-BASED FINANCING?

Revenue-based financing (RBF), also known as royalty-based financing, is a unique form of financing provided by RBF investors to small- to mid-sized businesses in exchange for an agreed-upon percentage of a business’ gross revenues.

The capital provider receives monthly payments until his invested capital is repaid, along with a multiple of that invested capital.

Investment funds that provide this unique form of financing are known as RBF funds.

TERMINOLOGY

– The monthly payments are referred to as royalty payments.

– The percentage of revenue paid by the business to the capital provider is referred to as the royalty rate.

– The multiple of invested capital that is paid by the business to the capital provider is referred to as a cap.

CASE STUDY

Most RBF capital providers seek a 20% to 25% return on their investment.

Let’s use a very simple example: If a business receives $1M from an RBF capital provider, the business is expected to repay $200,000 to $250,000 per year to the capital provider. That amounts to about $17,000 to $21,000 paid per month by the business to the investor.

As such, the capital provider expects to receive the invested capital back within 4 to 5 years.

WHAT IS THE ROYALTY RATE?

Each capital provider determines its own expected royalty rate. In our simple example above, we can work backwards to determine the rate.

Let’s assume that the business produces $5M in gross revenues per year. As indicated above, they received $1M from the capital provider. They are paying $200,000 back to the investor each year.

The royalty rate in this example is $200,000/$5M = 4%

VARIABLE ROYALTY RATE

The royalty payments are proportional to the top line of the business. Everything else being equal, the higher the revenues that the business generates, the higher the monthly royalty payments the business makes to the capital provider.

Traditional debt consists of fixed payments. Therefore, the RBF scenario seems unfair. In a way, the business owners are being punished for their hard work and success in growing the business.

In order to remedy this problem, most royalty financing agreements incorporate a variable royalty rate schedule. In this way, the higher the revenues, the lower the royalty rate applied.

The exact sliding scale schedule is negotiated between the parties involved and clearly outlined in the term sheet and contract.

HOW DOES A BUSINESS EXIT THE REVENUE-BASED FINANCING ARRANGEMENT?

Every business, especially technology businesses, that grow very quickly will eventually outgrow their need for this form of financing.

As the business balance sheet and income statement become stronger, the business will move up the financing ladder and attract the attention of more traditional financing solution providers. The business may become eligible for traditional debt at cheaper interest rates.

As such, every revenue-based financing agreement outlines how a business can buy-down or buy-out the capital provider.

Buy-Down Option:

The business owner always has an option to buy down a portion of the royalty agreement. The specific terms for a buy-down option vary for each transaction.

Generally, the capital provider expects to receive a certain specific percentage (or multiple) of its invested capital before the buy-down option can be exercised by the business owner.

The business owner can exercise the option by making a single payment or multiple lump-sum payments to the capital provider. The payment buys down a certain percentage of the royalty agreement. The invested capital and monthly royalty payments will then be reduced by a proportional percentage.

Buy-Out Option:

In some cases, the business may decide it wants to buy out and extinguish the entire royalty financing agreement.

This often occurs when the business is being sold and the acquirer chooses not to continue the financing arrangement. Or when the business has become strong enough to access cheaper sources of financing and wants to restructure itself financially.

In this scenario, the business has the option to buy out the entire royalty agreement for a predetermined multiple of the aggregate invested capital. This multiple is commonly referred to as a cap. The specific terms for a buy-out option vary for each transaction.

USE OF FUNDS

There are generally no restrictions on how RBF capital can be used by a business. Unlike in a traditional debt arrangement, there are little to no restrictive debt covenants on how the business can use the funds.

The capital provider allows the business managers to use the funds as they see fit to grow the business.

Acquisition financing:

Many technology businesses use RBF funds to acquire other businesses in order to ramp up their growth. RBF capital providers encourage this form of growth because it increases the revenues that their royalty rate can be applied to.

As the business grows by acquisition, the RBF fund receives higher royalty payments and therefore benefits from the growth. As such, RBF funding can be a great source of acquisition financing for a technology company.

BENEFITS OF REVENUE-BASED FINANCING TO TECHNOLOGY COMPANIES

No assets, No personal guarantees, No traditional debt:

Technology businesses are unique in that they rarely have traditional hard assets like real estate, machinery, or equipment. Technology companies are driven by intellectual capital and intellectual property.

These intangible IP assets are difficult to value. As such, traditional lenders give them little to no value. This makes it extremely difficult for small- to mid-sized technology companies to access traditional financing.

Revenue-based financing does not require a business to collateralize the financing with any assets. No personal guarantees are required of the business owners. In a traditional bank loan, the bank often requires personal guarantees from the owners, and pursues the owners’ personal assets in the event of a default.

RBF capital provider’s interests are aligned with the business owner:

Technology businesses can scale up faster than traditional businesses. As such, revenues can ramp up quickly, which enables the business to pay down the royalty quickly. On the other hand, a poor product brought to market can destroy the business revenues just as quickly.

A traditional creditor such as a bank receives fixed debt payments from a business debtor regardless of whether the business grows or shrinks. During lean times, the business makes the exact same debt payments to the bank.

An RBF capital provider’s interests are aligned with the business owner. If the business revenues decrease, the RBF capital provider receives less money. If the business revenues increase, the capital provider receives more money.

As such, the RBF provider wants the business revenues to grow quickly so it can share in the upside. All parties benefit from the revenue growth in the business.

High Gross Margins:

Most technology businesses generate higher gross margins than traditional businesses. These higher margins make RBF affordable for technology businesses in many different sectors.

RBF funds seek businesses with high margins that can comfortably afford the monthly royalty payments.

No equity, No board seats, No loss of control:

The capital provider shares in the success of the business but does not receive any equity in the business. As such, the cost of capital in an RBF arrangement is cheaper in financial & operational terms than a comparable equity investment.

RBF capital providers have no interest in being involved in the management of the business. The extent of their active involvement is reviewing monthly revenue reports received from the business management team in order to apply the appropriate RBF royalty rate.

A traditional equity investor expects to have a strong voice in how the business is managed. He expects a board seat and some level of control.

A traditional equity investor expects to receive a significantly higher multiple of his invested capital when the business is sold. This is because he takes higher risk as he rarely receives any financial compensation until the business is sold.

Cost of Capital:

The RBF capital provider receives payments each month. It does not need the business to be sold in order to earn a return. This means that the RBF capital provider can afford to accept lower returns. This is why it is cheaper than traditional equity.

On the other hand, RBF is riskier than traditional debt. A bank receives fixed monthly payments regardless of the financials of the business. The RBF capital provider can lose his entire investment if the company fails.

On the balance sheet, RBF sits between a bank loan and equity. As such, RBF is generally more expensive than traditional debt financing, but cheaper than traditional equity.

Funds can be received in 30 to 60 days:

Unlike traditional debt or equity investments, RBF does not require months of due diligence or complex valuations.

As such, the turnaround time between delivering a term sheet for financing to the business owner and the funds disbursed to the business can be as little as 30 to 60 days.

Businesses that need money immediately can benefit from this quick turnaround time.

[ad_2]


Deprecated: Function get_magic_quotes_gpc() is deprecated in /home/dubsterir/public_html/wp-includes/formatting.php on line 4358

Marketing of Academic Libraries, Chalanges and Practice

[ad_1]

INTRODUCTION

During the last two decades, a major change and development has happened in libraries. A critical element for that has been the development of telecommunications and information technologies-ICT. From the 80’s the automation of libraries has received a great impulse, and many libraries have introduced more and more ICT equipment and its applications, creating their own web sites, generating compact discs, and producing leading projects. It has provided libraries with a more refreshing and distinctive touch and new directions are now conceived by libraries. The technological environment and the extraordinary growth in the use of Internet has definitely improved the cooperation among libraries and eliminated almost all restrictions. Academic libraries today look totally different than they did twenty years ago. Thanks not only to the technologies but also to the information agents. Economic changes, technological developments and other forces have reshaped and redefined librarians’ way of thinking.

The library in this era need to redesign the services and revision must be done to the information profession to meet the ICTs development and to give the chance for the library to grow from the regular types of libraries to the universal information services, and from a conservative library to a modern virtual library (Feria, 2000).

This increase of information technologies and the explosion of available information are the most obvious changes in academic libraries. The amount of human knowledge is doubling almost every five years; the number of students has almost doubled since 1970’s, same for the number of teachers and researchers with large diversity of user groups. And library users must learn to use different databases and interfaces successfully to be part of the knowledge expansion (Nims, 1999).

Information providers are now more diverse and the academic library is not the only provider in the higher education market like before. Users can get their information from other information providers. Using the Internet, they can access volume of information over the computer without coming into the library building or interacting with a librarian at all. In addition, libraries now face competition from traditional bookstores like online bookstores such as Amazon.com. Along with small shops that offer inviting environments to sit and read books, with drinks and friendly staff to answer questions. The revolution in information services that is taking place in academic libraries makes it essential that libraries design new services that meet the user’s needs better than other providers. With all that the idea of applying marketing principles to academic library services is greeted with hesitation and doubt (Nims, 1999).

MARKETING PRACTICE

In the last few years, the products and services provided by libraries have changed considerably. The challenges to library services from changes in educational approaches, the impact of technology, new methods for information provision and declining budgets have meant that marketing is now so necessary that it cannot be considered a separate function. It is the whole business seen from its final results; that is, from the client’s perspective. In determining new approaches, many libraries have come to appreciate the contribution that the marketing concepts can make. In designing the marketing mix and developing the marketing plan, the so-called 4Ps have become central to libraries – product, price, place, promotion. Any library using marketing techniques to develop its operations focuses on its products or services; the price paid, which may be in money, time or energy; the promotional strategies by which library collections and services are made known to potential clients, including publications, displays and participation in events; and the physical facilities or place from which services are made available and distribution strategies which increasingly use the Internet and virtual as well as real approaches. Positioning and politics can also be considered in the mix and incorporate positioning the product in the mind of the client and public policy and politics (Madhusudhan, 2008).

Marketing has been defined as the: “… analysis, planning, implementation, and control of carefully formulated programs designed to bring about voluntary exchanges with target markets for the purpose of achieving organizational objectives … [and] … heavily dependent on designing the organization’s offering in terms of the target market needs and desires and on using effective pricing, communication and distribution to inform, motivate and service the market” (Kavulya, 2004, p.118). True marketing is a repetitive process and a systematic approach for matching services and products to the user needs and desires. Marketing is the key ingredient in the success of any nonprofit organization (Koontz, 2004).

The study of the practices of library marketing activities of universities in Kenya, explores the marketing practice in Kenya academic libraries and what are the obstacles that face this practice. Result of the study prove the need for academic libraries to be more aware of their role in the academic atmosphere and show the library importance and relevance to the academic community by its contribution to research and teaching which is the main purpose of the university. By doing this the academic library can insure the support of the university. The study proves that showing the library informational role will prevent academic libraries from being marginalized by the institution that support the library. If they fail to do so the library risk being seen as irrelevant and lead to becoming more and more marginalized in the university educational process (Kavulya, 2004).

The job of marketing services is not as easy as marketing a product, the service cannot be returned and cannot be stored. Dissatisfied customer cannot return an unsatisfactory service as he can an unsatisfactory product. And a customer can often choose to perform the service himself. Successful marketing is characterized by four activities. First is market research to identify customer needs and wants, second is market segmentation to allocating resource to customer groups, third is marketing mix strategy which includes the products or services, priced, delivered and promoted; and finally the fourth which is evaluating the marketing effort (Tucci, 1988).

1. Market Research

The needs of the library users are the core of the marketing process. It is the user who drives marketing and ultimately shapes the product or service. Marketing is not just the four P’s (product, price, promotion, and place). Marketing is planned and executed process which includes marketing research to develop services and products, then evaluating the results and integrating the findings into future services and products. The majority of mission statements of academic libraries neglect the concept of letting the users’ needs dictate the services orientations (Nims, 1999).

Academic libraries need to be more persistent in investigating user’s needs by using Marketing approach to develop services that meet their expectations. It is not just marketing of already available services to the users but to find out what the users want (Kavulya, 2004). Marketing research is the function that links the information professional to the customer’s needs and wants. Marketing research can be done by reviewing internal customer data in the library and also by recognizing usage categories for materials that are being checked by students, categories like user types; students or faculty, date of entry, type of material, and so on (Koontz, 2005).

In the Saint Mary’s University library experience, Lefebure (2002) found that the Patrick Power Library had a very uninviting environment. The library building and the interior design was really uncomfortable. Although the library was known for its efficient, thorough and friendly service, the library seemed to be disregarded because few only knew how excellent the library resources were and how good was the service inside. The positive side of the library was undermined by the dim and tired appearance of the building itself. At the same time the financial resources were rare and not easy to acquire for renewal or redesigning the library. Even the electronic services were not known to all of the students and not many knew that inside the library there were many computers linked directly to the Internet with major electronic information services. So the challenge was to design a marketing campaign that would transform the library to make it a welcoming place (Lefebure, 2002).

By conducting a marketing survey to take the student opinion and thoughts regarding the library services, students “who are the main clients of the academic library” put more emphasis on atmosphere and ease of access through the Internet than the more traditional library methods. Students revealed what services would encourage them to use the library more; the majority of respondents in the sample group mentioned a coffee shop, and more resources. Other factors mentioned were updated materials; food and beverages allowed in the library; better climate control; atmosphere; lounge area; and better lighting. The final factor cited was promotion of the facilities. It was clear that the students themselves recognized that they were not fully aware of what was available to them. This experience demonstrates that market surveys and research do work if you ask the right questions, and not just asking the regular current users of the library. But surveys should also investigate the needs of students who do not come to the library. And the best marketing is word of mouth. Students often consult each other rather than approach the reference desk. Yet if the reference staff is efficient, friendly, helpful and solutions-based, the students will generate positive word-of-mouth about the service. On the other hand, good marketing is soon void if the student meets an unfriendly staff member (Lefebure, 2002).

Not many users have sufficient knowledge of the academic library, library services, and information technologies. And many students hold negative attitudes towards librarians. Mu (2007) demonstrates that 75 to 85 percent of college freshmen viewed the library as scary, overpowering and confusing. And the biggest challenge faced by reference librarians is to create a positive image. Librarians need to develop the ability to create a welcoming environment.

Although more and more librarians are getting familiar and comfortable with promotional activities and public relations, they often use marketing principles without realizing it. In the course of planning new services or evaluating existing service, many academic librarians assess their users and their needs, segment their intended users, and target services to certain populations. Marketing can assist libraries in determining their future and in identifying quality products, services, programs, and materials (Nims, 1999).

Relationship marketing, in particular, reflecting the mutual interests of libraries and the clients they serve, is being seen as a concept for libraries to embrace. Libraries after all, are built on relationships. Marketing is directly linked to the client’s perceptions of the services the library offers and the library’s interpretation of the client’s needs. In developing and maintaining relationships, it is essential that all clients are identified and their needs understood. Market research is a useful tool for discovering and understanding client needs and identifying better ways to meet those needs. If changing process is involved, it is always easier to change one-self than it is to change others (Madhusudhan, 2008).

2. Market Segmentation

Marketing segmentation means grouping customers for best product delivery and resource allocation to better promote the service to specific groups, for instance media type, graduate, undergraduate, and faculty. They could be also segmented by online users or walk in users, or the time they spend inside the campus, or by database users and physical items checkout (Koontz, 2005). The purpose of marketing segmentation is to target the customer rather than the product or the service. The aim is to provide services that satisfy individual rather than a generalized service. Taking into account the various market segments and their needs, market segmentation involves research to determine the quality of the library service and its contribution to the mission and the objectives of the parent organization. Data are collected looking at users’ awareness and attitude to the library service, customer satisfaction levels, and the major strengths and weaknesses of the library in terms of staff, resources, programs and facilities. Studying the organization and users helps create appropriate library services and programs as well as guide the planning of the right marketing strategy. This marks a departure from promoting of a solo existing service towards a package of services designed to meet the various target groups in the university such as academics, researchers, and undergraduate as well as postgraduate students (Kavulya, 2004).

3.  Marketing Mix

Marketing mix is formulated by the 4p’s. The first P is the creation of the Product which also could be a service for the market that is the target. Then there is Price, Place of distribution and finally promotional efforts. The development of an effective marketing strategy requires the specification of the marketing mix which incorporates the four Ps of marketing. The marketing mix is the guide for the development, implementation and evaluation of any specific service or product (Kavulya, 2004).

Product: The product is defined as “anything that can be offered to a market to satisfy a need” (Norman, 1989, p.46). “Every product has a price and must be available some place and then promoted” (Kavulya, 2004, p.120). The main product provided by the information professionals is giving the user assistance and acting as an intermediary between the user and the resources of the library. Product could also mean the various services offered by the library and designed for specific user groups such as databases, information skills programs, SDI activities, whose quality depends on their usefulness to the users’ information needs. The success of all marketing and planning efforts hinge directly upon the quality and excellence of the product or service designed (Norman, 1989).

The Product mix “is a set of all product lines and items that the organization makes available to its customers. A product line is all the various products within product mix that are closely related, with shared characteristics, offered to a specific segment of clients or through a specific channel. A product item is a unit within the product line. Product item for a university library may include those product lines and items offered through public or technical services” (Koontz, 2005, p.7).

Price: Price is simply”what it costs to produce [the] product. Plus any user fees that are assessed” (Owens 2002, p.11). There are financial environment challenges in higher education but there is no relationship between cost and demand for services in academic libraries. The economics of the new technologies will make it difficult for many academic libraries to offer services at no charge (Norman, 1989).Fee based services could be a good alternative to public funding, specially for struggling academic libraries with insufficient financial resources or libraries with poor funding that do not adequately fulfill their needs. Selling information services is a potential source of funding for academic libraries. Increasing cost of services justifies the user fees. Applying fee for providing services to the users is not only to support the library existence but also to widen the library borders and capabilities to provide new and better services. Library services are no different than any other public service that the public pay for every day. One of the advantages of putting fees on using library services is the insurance of the consistency of library services; the users sometime over-use free services just because they are free, putting fees limit the over-use of services and put value and quality to the service in the customers’ eyes (Mahmood, Hameed & Haidar, 2005).

The concept of selling information services may not apply to the basic essential information services that academic libraries provide. But the more advanced and technological services are highly suggested to provide income for academic libraries, like photocopy services, Internet service, computer printouts, use of computers for word-processing, and microfilm prints. Photocopying and Internet service can be successfully offered as fee-based services. To implement fee-based service in academic libraries a good training of the library staff and a marketing and promotional plan must be established to raise the awareness for the academic community of the importance and the existence of the library and information services that are provided (Mahmood, Hameed & Haidar, 2005).

Place: The current development in ICT has proven that the place is a crucial factor for library services. To contain library services within the library walls is something from the past. The availability of the Internet and intranet make it possible to offer information services of any academic library in the world to any user on the Internet. The role of the database vendors is undeniable in that regard. Databases vendors are one good example of how the place of the service has become irrelevant as databases now can be accessed online in any part of the world (Nims, 1999).

Promotion: “[T]he role of promotion is to communicate with individual groups, or organizations to directly or indirectly facilitate exchanges by influencing one or more of the audience to accept an organization’s products(Norman, 1989, p.48).Promotion is the most used aspect of marketing by librarians. Information professionals should not confuse the meaning of “promoting” with the word “marketing”. Promoting is simply employing creative ways to make library products and services visible to users. Typically, academic librarians have a service, such as class-related instruction, term paper clinics, or faculty workshops, which they have determined people need(Nims, 1999).

Another term for promotion is ‘communication’. “Promotion is the communication and public relations aspects of the marketing mix that informs the public about the product’s benefits and applications” (Owens 2002, p.15). Promotions is divided into five elements: advertising, publicity, personal contact, incentives, and atmospheric (environment). Product orientation has often hindered the effectiveness of library advertising. Most library advertising tells the world that the library is a wonderful place with wonderful products. And rarely do they ask “why don’t you use the library?” Communication problem is intensified because of the lower levels of personal involvement required by the message from the library. The role of communication is to bring about changes in what target audience know and understand about libraries; to bring about changes in their preferences for products vs competing products, to bring about changes in their behavior. The amazing thing is that the personal communication is the least expensive and most effective advertisement medium available. Libraries need to switch from product oriented approach to customer oriented approach (Tucci, 1988).

4. Evaluating the Marketing Effort

The objective of marketing evaluation is to make sure that the process of marketing is fulfilling its purpose, to change the marketing mix strategy as needed to improve the evaluation results. Most important, evaluation will help to plan how to increase customer satisfaction. The role of “evaluation” is to measure the marketing effect by evaluating the customer behavior and by measuring customer satisfaction (Koontz, 2004). The assessment of user satisfaction guarantees the library understanding of user needs and trend of using the services provided. Regular advertisement methods are not enough to grab the user’s attention to the library. Give the costumer what he wants and watch him come to the library again willingly then continue evaluating clients’ use of the services. (Tucci, 1988).

IMPORTANCE OF LIBRARY MARKETING

The success and survival of academic libraries is dependent on getting the users to use the library resources and services. A library without users is useless. And to succeed in that there is a need to let the users be aware of the existence of the library and its services. Making the library necessary for the potential user is the secret of a good and successful library marketing campaign.  Marketing the library service is not about selling services only; it’s about spreading the knowledge about the existence of the library and its resources using different tools. It’s about keeping the clients in touch and informed about resources and services that match their interests. The success of academic library marketing lays mainly on convincing the clients that the tools or databases are worthwhile, they must  understand what the services are, and be enthusiastic about how they will be helpful (Noel & Waugh, 2002).

Librarians need to market their services and resources for students and potential users to create awareness of the academic library’s value. Major sectors of the potential market for the library’s services are probably not aware of all the services available or have no understanding at all of what is offered. That’s why marketing is vital to the success and existence of the academic library. The main focus of every library should be a good customer service. Good service can equal a good marketing campaign, which is another reason why marketing is important for libraries. Effective marketing provides the means by which users are made aware of the services of the library and their value. A large percentage of the academic library users are students who have misconception about the library and its role. This image has to be changed with marketing strategies (Mu, 2007).

TRAINING OF MARKETING

The Internet now provides a unique environment where information service can be brought to life, and new methods for spreading information can be explored. It is particularly important for academic libraries to take advantage of the Internet. And without library employees who have the basic knowledge to deal with and manage information tools the library misses great opportunities to both advertise and modify information services for users. To help the academic libraries create innovative marketing techniques the library needs to hire computer literate people. “Computer literate librarians can be very effective in applying their skills to the marketing process in libraries” (Noel & Waugh, 2002, p9).

Teaching marketing in LIS is crucial at this point to cope with the global developments. A marketing course should be essential in the LIS discipline. The better understanding of the marketing concepts will lead to better performance and professional library and information services (Kavulya, 2004). Alongside, LIS schools should always provide courses that teach ICT skills including computer programming as well as teaching how to build resource collections and organizing information (Noel & Waugh, 2002).

STRATEGIC MARKETING

The idea of marketing as a practice for businessmen only is outdated. Marketing is now conceived as the science of strategy. Strategy is “the direction and scope of an organization over the long-term, which achieves advantage for the organization through its configuration of resources within a changing environment, to meet the needs of markets and to fulfill stakeholder expectations” (McNicol, 2005, p.498). The main objective of that strategy is client satisfaction; librarians in academic libraries should know it and apply it as part of a permanent activity in the management and planning processes. Strategic planning plays a key role by using SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats) and the identification of CSF (Critical Success Factors), and the generation of strategic projects, as well as other elements. Among other methods there is the creation of customer and supplier data banks, advertising, and staff which is very important element since the main good of a marketable information service is the people who work in it.  Promotions and advertising are part of the success in service marketing, but not as important as measuring the customer satisfaction, and the ability to keep customers (Feria, 2000).

Strategic marketing approach should provide academic libraries with tools that can assist them in the task of designing, developing and delivering appropriate services. It can enable them to start with customers rather than seeing them as the finishing point in the information supply chain and shift from product and service orientation to customer and need orientation (Kavulya, 2004). This is the case of Questia, the world’s largest Online Library, with a collection of over 35,000 digital books for undergraduate students. Marketing techniques and market research led Questia to a firm understanding of its target market which is the average undergraduate student. So Questia’s online library accommodates itself to the lifestyles of students. It takes full advantage of its digital format to overcome many of the inconsistencies and barriers that students encounter in a traditional library (Gibbons, 2001).

What is impressive in Questia’s marketing techniques is the diversity of tools and methods used. Students are receiving a torrent of colorful, slick flyers publicizing the magnificence of Questia’s “innovative, scholarly and indispensable” collection and promotional prizes, including a laptop computer and PDA, just for visiting Questia’s Web site. Also Questia has emailed students’ parents, requesting that they buy the subscription on behalf of their child understanding that students may not have or want to spend money subscripting to the service, plus using TV commercials in premier TV hours showing how the online library can help students to finish their research and assignments any time, even if the library doors are closed. One clever marketing technique used by Questia is the word of mouth. Questia is recruiting students to spread the word about the online library services and to push their product throughout the campuses and to collect marketing information related to the students and their needs. The experience of Questia library proves that the library needs to market its collection and services. The belief that the value of the library collection is enough to draw attention of the users is not true anymore. The need is not just to build a library and fill it with good collections and service and wait for the clients to visit. There are obstacles that need to be overcome such as working hours and closing times, physical barriers, geographical barriers and the rapid change in the information science (Gibbons, 2001).

In the past libraries always believed that their importance would continue to be acknowledged without any questioning. That has resulted in delaying the involvement of library and information service in institutional strategic planning. As a result to this, it is crucial for librarians to emphasize their contribution to institutional aims and outcomes. Libraries no longer occupy the secure position which they did in the past. In these circumstances, libraries need to demonstrate that they are an integral and essential service of any university and play a key role in helping the institution to achieve its goals and outcomes (McNicol, 2005).

CONCLUSION

The contemporary library is now generally named an information market and the library user is a consumer of information. Information is an essential resource for research and development of any nation. Marketing is vital in building the proper planning, designing and use of information services and products for the better and best possible use of information. The library should give priority to provide superb customer service enhancing its image as information provider in the information age. The library and information services should be user oriented in order to satisfy their information needs effectively. Marketing of library and information services includes user’s priorities, expectations, individuality, responsiveness, relationship, quality of services, professional skills and competencies, value-added services, etc. The ultimate aim of marketing here is to provide the right information to the right user at the right time.

REFERENCES

Feria, L. (2000). ICT and marketing challenges in Latin American libraries. In: IFLA Coucil and General Conference. Jerusalem, Israel, 7p.

Gibbons, S. (2001). Growing competition for libraries. Library Hi Tech, 19(4), 363-367.

Kavulya, J. M. (2004). Marketing of library services: a case study of selected university libraries in Kenya. Library Management, 25(3), 118-126.

Koontz, C. (2004). How to assess your marketing effectiveness. Marketing Library Services, (May/June), 6-8.

Koontz, C. (2005). Marketing research and virtual customer: realities, posibilities, experiences. IFLA publications, 117, 251263.

Lefebure, M. (2002). The library as congenial space: the Saint Mary’s experience. New Library World , 103 (1172/1173), 21-29.

Madhusudhan, M. (2008). Marketing of library and information services and products in university libraries: a case study of Goa University library. Library Philosophy and Practice, (March), 1-6.

Mahmood, K., Hameed, A. & Haider, S. J. (2005). Potential for fee-based library services in Pakistan. The Bottom Line: Managing Library Finances, 18(4), 172-179.

McNicol, S. (2005). The challenges of strategic planning in academic libraries. New Library World, 106(1218/1219), 496-509.

Mu, C. (2007). Marketing academic library resources and information services to international students from Asia. Reference Service Review, 35(4), 571-583.

Nims, J. K. (1999). Marketing library instruction services: changes and trends. Reference Serrvices Review, 27(3), 249-253.

Noel, R. & Waugh, T. (2002). Marketing library and information services comparing experiences at large institutions. In: Putting Knowledge to Work. Presented at the Special Libraries Assosiation Conference, Los Angles, California , 10p.

Norman, O. G. (1989). Marketing library and information services: an annotate guide to recent trends and developments. Reference Services Review, 17(1), 43-64.

Owens, I. (2002). Marketing in library and information science: a selected review of related literature. The Acquisitions librarian,  (28), 5-31.

Tucci, V. K. (1988). Information marketing for libraries. (M. E. Williams, Ed.) Annual Review of Information Science and Technology, 23, 59-82.

[ad_2]


Deprecated: Function get_magic_quotes_gpc() is deprecated in /home/dubsterir/public_html/wp-includes/formatting.php on line 4358

Gain Control Over Your Network Marketing Efforts

[ad_1]

When you start network marketing, it can be overwhelming. After all, you’re really running two businesses. On the one hand, you are selling a product. On the other hand, you are recruiting others to sell the same product. Both areas deserve your full attention, and here are some tips to make sure you succeed with both.

Never, ever lie on your network marketing website. Your reputation is your key to making money in this business, and a marketer with a clean record will have a long career. Use honest testimonials, statistics, sign-up information and marketing techniques. Do not exaggerate and never say that it’s a way to make money for doing nothing. A lot of hard work goes into it and you know that!

Don’t give away all your secrets, yet. Your network marketing materials should entice the reader into wanting to know more and taking the next step to seek out the information you provide on your website. If someone takes the time to visit your site, they’re showing they have the drive to actually be a part of your business.

Remember when network marketing that time is a very valuable commodity, both for you and for members of your marketing network. You need to act in a timely fashion when there’s something that needs to be done, whether it’s introducing a product or contacting members of your network. You can’t just leave people waiting around.

You’re going to need to have a lot of confidence in yourself to make it as a network marketer. You won’t need to visit the shrink or anything that drastic, but you should work on boosting your self-esteem in order to become a better salesperson and to increase the number of members in your network.

One easy way to increase your chances of success at network marketing is to use visualization techniques. Although some people may think this is a lot of hokey-pokey, those who truly believe in its power see measurable results in various areas of their life. Make sure you truly immerse yourself in the experience while visualizing whatever it is you want to improve ” sales techniques, product descriptions, the ability to recruit your sales force or any other aspect of your business. Use all of your senses to imagine that success is already yours, and soon enough, it will be!

Use the power of social media sites in today’s world to help you with your network marketing business. Network marketing is a business of today, and today is revealed through the internet and media. The two biggest things in today’s world are Facebook and Google. Optimize your search results on Google, and market your business and products on Facebook.

Even though network marketing can be a challenge, if you know how to manage the two sides of your business you’ll be fine. Use the tips in this article to better help you manage both the sales and the recruitment parts of your business. Stick with it and you’ll see positive results.

[ad_2]


Deprecated: Function get_magic_quotes_gpc() is deprecated in /home/dubsterir/public_html/wp-includes/formatting.php on line 4358

Deprecated: Function get_magic_quotes_gpc() is deprecated in /home/dubsterir/public_html/wp-includes/formatting.php on line 4358

9 Benefits a Business can Gain from a PPC Campaign

[ad_1]

One of the most effective tools you can use to promote your business on the Internet is PPC or pay per click. Among all other online methods of promotion, PPC is most efficient in generating profit. Thus, if you want to reach out to targeted audiences and convert them into paid customers, you must hire a pay per click agency. This can be highly beneficial for the growth of your business.

The PPC campaign is very popular because it functions in a very convenient way. To put it simply, you run advertisements and the amount you pay depends on the number of potential customers, who click on the ads of your business. There are several pays per click platforms, such as Google Adwords and Bing Ads, used by digital marketers for promoting the businesses of their clients.

In this article, I am going to discuss the benefits that businesses can gain from pay per click campaigns.

Results can be Measured

When digital marketers employ PPC techniques, they can easily set a clear and measurable goal. The things of a PPC campaign that can be measured are profits, costs, clicks, views and so on. Thus, right from the time business owners invest in PPC campaigns, professionals from PPC management services can suggest them how much they should spend and whether they are having profit or loss. All these data are very important for the records maintained by digital marketers, as well as CEOs of different businesses.

Results are Very Fast

PPC is beneficial for businesses because it can give fast results. It is the fastest way to run advertising campaigns and get quick results. Thus, digital marketing professionals create accounts in Adwords, setup the ads of their clients and run them in the network of Google, so that websites can start generating traffic. In simple terms, this is how PPC works and helps business owners to reach their targeted audiences in the fastest possible manner.

Reaching Out to the Right Audiences

When digital marketers run a PPC campaign, they choose when and where the ads of their clients are going to appear. This is based on a number of essential factors like location, keywords, device, website, date and time, and many others. This flexibility is useful in segmenting the market and promote different products and services in front of the targeted audiences.

Not Dependent on Changes in Google Algorithm or SEO Techniques

For long-term success, a website must be SEO-friendly and follow the SEO best practices and standards. However, one of the advantages of PPC is that once a profit-generating campaign is created, digital marketers do not need to worry about changes in the ranking algorithms of Google.

Giving Recognition to Brands

Professionals from a pay per click agencyuse PPC campaigns to target keywords related to the industries of their clients so that people targeting those keywords can constantly view the ads. Though general keywords are not directly beneficial in improving sales, indirectly they can increase the awareness of a brand and eventually establish it as an authority and leader in an industry.

Taking Advantage of Opportunities in Business

PPC can be very helpful in staying ahead of competitors and reaching out to targeted audiences, by grabbing proper opportunities. For instance, if the competitors of a business are not involved in online marketing, a successful PPC campaign can give another option to prospective buyers. This is even more convenient because PPC can be implemented easily and results are generated very fast.

The Initiative is Budget-friendly

PPC campaigns have no restrictions of the budget. Digital marketing professionals from  PPC management services decide how much their clients are going to pay per click and how much to spend for every campaign or ad. This is possible because everything can be measured in PPC and experts can analyze whether the investment of their clients is generating profit or not.

Very Efficient for Local Search

For targeting local customers, PPC is a highly effective campaign. People who are searching on their mobile devices can see the ads, click on them and reach the stores around them. Studies show that prospective consumers are more likely to go to a store, which they find in search results. Thus, in case a business does not opt for a PPC campaign, it can lose potential customers to its competitors, who are involved in PPC campaigns.

Effective in Testing other Marketing Strategies

To understand how well an ad copy or product headline is going to perform in other campaigns, professionals set up PPC ads and run them for a few weeks to see which ad is getting the highest Click Through Rate.

To gain these benefits, you must avail the services of professionals from a pay per click agency. Thus, if you want to promote your business effectively on the Internet and generate profit, you must invest in PPC campaigns.

[ad_2]


Deprecated: Function get_magic_quotes_gpc() is deprecated in /home/dubsterir/public_html/wp-includes/formatting.php on line 4358

Operational Excellence: Driving a Competitive Strategy for Your Business

[ad_1]

Operational Excellence is a state of readiness attained as the efforts throughout the enterprise reach a state of alignment for pursuing its strategies. A definition of operational excellence clearly states the unique value, you bring to the marketplace and to the customers.

To triumph in a marketplace, businesses need to embrace a competitive strategy. How can define this strategy with operational excellence? This is a great challenge for those who are already in competition and more challenging for those who are new to the competitive world. Well, the solution for both the cases are same, but what matters the most, is the way they implement such strategy.

Going through the competitive strategy, this implies that seeing Operational excellence aims to accomplish cost leadership. It is ideal for markets where customers value cost over a choice.

How Effective is Operational Excellence in a Competitive World?

Focusing on automating manufacturing processes and work processes can help streamlining operations and reducing costs. This strategy is so effectual that it lends itself to transaction-oriented and standardized production with little need of much differentiation.

Leaders in the area of operational excellence are sturdily centralized with a standardized discipline and rule-based operation. By measuring the concert of key processes and benchmarking costs, an organization can easily enhance its revenue and growth value. Comprised of an integral part of companies’ operations, they relentlessly seek to streamline their procedures in order to eradicate errors.

Understanding its disciplines that are cultivated in a volume-oriented business model has resulted in marking their remarks positively. Companies like Southwest Airlines, IKEA, Wal-Mart, FedEx, and McDonald’s are one of those pursuing this competitive strategy. However, you are familiar with the results.

When taking operational excellence as a competitive strategy, the most aesthetical thing that happens is building corporate disciplines. You can understand it clearly with the following that include leadership as a strategic priority.

  • Teamwork
  • Marketing
  • Talent Management
  • Research Portfolio Management
  • Product Management

With the help of these, one can easily recognize excellence in terms of creativity, solution finding, and unity. Moreover, these facts are crucial to a business success. Experiencing and implementing such things in an organization can help you in mastering collaboration and knowledge management in a fruitful way.

Focusing on every customer and ensuring whether his or her need is fulfilled is also a great example set for leadership quality management.

Customer Engagement through Operational Excellence

The story doesn’t end here that your firm has all that things, your customers are looking forward to. It begins from there. Personalization of service and customization of products are the two basic customer needs when it comes to customer intimacy strategy. This strategy provides the reliable solutions that are regarded as “good enough.”

By focusing on the needs of an individual customer, one should clearly understand that true customer intimacy can align the product enhancement, administrative procedures, and executive hub. Modifying the companies’ systems and strategies as per clients’ needs and demands, helps them learn to survive in a competitive world.

Operational excellence as a Way of Gaining Competitive Advantage

An ability to provide greater value to your customer by doing something very effectively more than an antagonism is one of the features of a competitive advantage. This is useful for newbie. How can you use process excellence as the foundation? A business demands many things and in return, revenues are on the boom if fulfilled them amazingly.

But, in between fulfilling of business demands to getting profits, a major thing to concentrate is customer engagement. Your business should not lack in any case when it comes to offering services to consumers. Whether your business is small or large, a customer is the king while you focus on boosting revenue growth. Remember, more the targeted audience, higher the profits.

Not only this, companies with operational excellence operate hassle-free services with reasonable prices. As discussed above Wal-Mart are the great examples having Operational excellence as a strategic priority. They create out-of-the-box thinking and innovative culture for high product leadership.

Measuring Progress with Operational Excellence

Achieving operational excellence is not as simple as drinking a glass of water. You need to recognize a situation where your organization actually feels its need. However, there are many firms that provide information how they come to know about the falling of the business and how they set it on time.

This is the one side of the story; the other page determines business growth in a remarkable way. That is how, leading indicators to operational excellence provide a window into the pace of improvement within your organization by ensuring whether that pace is sufficient to either build or sustain a competitive advantage.

An organization adopting operational excellence can easily answer the following questions-

  1. What is an addressable gap? How is it compatible with high-quality performance and financial value of closing the gap?
  2. How much value has been captured since last year from driving operational enhancements?
  3. How will you define operational maturity profile of the organization that is all set for industry standard best practices?
  4. What is the exact number of operational improvement initiatives undertaken by the organization? Briefly describe the status of each.

These were the general questions asked or faced by the organizations’ after practicing few months of applying new techniques. It is effectual for building and sustaining operational excellence. It is found that companies with a high balanced approach can help in improving methodologies. This further establishes the managing processes and governance model to certify that operational improvement gets the appropriate focus within the business form.

This is how an organization with Operational excellence recognizes clients with appropriate visibility into the nature and status of all improvement work. If you’re committed to achieving operational excellence but are challenged to build and sustain a meaningful competitive advantage, consider for building tactics that set suitable to your firm.

Creating a product or a service that is reliable to everyone helps you drive solutions and support business systems. If you are clear about your strategic priority, then you are marching towards your business goals in a triumph way.

[ad_2]


Deprecated: Function get_magic_quotes_gpc() is deprecated in /home/dubsterir/public_html/wp-includes/formatting.php on line 4358

Customer Service – Marketing Extension

[ad_1]

While it is true that consumers do not have to shop online it is equally true that many consumers like the convenience of online shopping and would continue to make it a part of their shopping experience.

If you, as an online business, can provide a quality product at a competitive price you have waged a significant battle in a much larger war.

An online business cannot conclude that simply because a consumer sought out their products and made a purchase that they can be reasonably assured this customer will return.

You spend a great deal of time and resources on front-end marketing, but surprisingly many online businesses are missing out on a key element of consumer retention – Customer Service.

This function in an online environment is different than brick and mortar counterparts simply because you are dealing with someone you will likely never see. However, the reason customer service is so important to online business is that it is an extension of your marketing activities.

If you were to break marriage down into the most basic marketing efforts you find that many men and women pour enormous amounts of time and resources into finding a spouse, yet once the ‘I do’ has been said, sadly for many, the marketing exchange is over. This should not be the case in marriage and it should not be the case in online marketing.

The same effort you put into gaining a customer is the same effort you need to put into keeping that customer happy and willing to return to your ecommerce site.

One of the ways to advance quality customer service is a comprehensive Frequently Asked Questions (FAQ) section. This will help answer common questions before and after the sale. You should also make sure your customer can access contact information quickly from any location on your website. Make sure to answer all correspondence in a timely manner.

Comprehensive instructions are another means of quality online customer service. If your customer has a hard time completing a transaction, finding products or feeling as though they have missed some key element in the process it may signal a decrease in their personal trust factor, which equals fewer online sales.

Customers aren’t especially happy to conclude they have been subjected to a classic ‘love ’em and leave ’em’ scenario. No one likes to feel the only value they have is in the money they spend with a company.

You serve individuals with lives that are important. You convey a distinct lack of care when you treat customer service with casual disregard.

[ad_2]


Deprecated: Function get_magic_quotes_gpc() is deprecated in /home/dubsterir/public_html/wp-includes/formatting.php on line 4358

The Top 5 Marketing Tips You Can Learn at Oktoberfest

[ad_1]

Oktoberfest is an annual celebration held in Munich that dates back to 1810. The first edition was a post-wedding feast to celebrate the marriage of Crown Prince Ludwig and Princess Therese, and all of Bavaria was invited. The event was so popular it has continued year after year.

So how does this relate to marketing?

When you have more than 200 years to perfect the art of throwing a party, there are plenty of things to learn. From promotions to branding, everything seems to contribute to one common goal: Gemütlichkeit – a German work that roughly translates to a cross between coziness, warmth, belonging, cheerfulness, and fun. And personally speaking, I have never had more fun in my life then I did during my two trips to Munich for Oktoberfest.

As they say when the first keg is opened and the festival begins, “It’s tapped!” So here are the top five marketing tips you can learn at Oktoberfest:

1) Raising your prices isn’t necessarily the best solution.

Every year, the price of a liter of beer goes up, and every year, more and more people attend Oktoberfest. What does this tell us? Lowering your prices isn’t always a good thing.

Yes, there are obviously more factors involved in this statistic, but as Irish marketer Jon McColloch said in a recent email, it’s easier to sell one $80,000 BMW than it is to sell 80 Chevy Cobalts at $1,000 a piece. And Just in case you’re wondering, the average price of a liter at this year’s Oktoberfest is about $11.68.

2) Planning is paramount.

Every year, months before 7 million people walk through the gates and the music begins and the mugs clank, Oktoberfest is planned down to the smallest of details. The famous märzen beer is brewed in March. The massive beer halls holding upward of 10,000 people are constructed months in advance. Even the locals get in on the planning.

The famous German waitresses carrying all those liters can make enough money during the two plus weeks of Oktoberfest that they don’t have to work the rest of the year. If they can make a one-euro tip per beer, carry 14 beers at once, and make a new run for beers every five to seven minutes… well, you do the math. They have, and they plan for it every year.

3) Make charitable donations.

The Hacker-Pschorr family – one of Munich’s most famous breweries and one of the “Big Six” permitted at Oktoberfest – donated the land on which the festival is held. They were present at the first Oktoberfest in 1810, and because they gave Munich the fairgrounds for the festival, it’s safe to say they’ll be allowed at every one after. Giving can go a long way.

4) Be creative with your branding.

Beer has been around for a long time in Bavaria. So long, in fact, that there is a bit of uncertainty as to when some of the Big Six breweries were even created!

The oldest is Augustiner Bräu, established in 1328, and they certainly know a little bit about making beer, as well as marketing it (or not marketing it). They didn’t change the shape of their bottle when it was popular to do so. They rarely ever change their label. They do not engage in advertising campaigns. They do not export their Oktoberfest beer. They are the only brewery at the festival to serve it from traditional, wooden barrels. And their beer just happens to be the most popular at the festival and is noted by the locals, almost unanimously, as the best beer at Oktoberfest.

What does this tell us? That producing a high-quality product, and then just sticking to that, can often be the best way to build your brand.

5) Sell an experience.

Yes, people go to Oktoberfest for the beer and the pretzels and the music. Some go to a certain tent for a special food served there. Some pick a hall because they like the band or the décor.

Individually, these are all great, but when you add them up, they create an experience that is hard to replicate. Every tiny detail contributes, from the smell of candied almonds to the bright lights of the roller coasters.

Use this philosophy to analyze your products and services. Make sure your customers are getting the same attention, and make an effort to give them an experience they will never forget, every time.

Maybe even come up with a clever name or tagline to help brand it. At Oktoberfest, it’s called gemütlichkeit. Whenever gemütlichkeit is mentioned in song, it’s mandatory that people toast. When people toast, they drink. Needless to say, the song is played quite often. That is Sales and Marketing 101. Prost!

[ad_2]


Deprecated: Function get_magic_quotes_gpc() is deprecated in /home/dubsterir/public_html/wp-includes/formatting.php on line 4358

How to Decorate your Home – Basic Interior Design Ideas

[ad_1]

For many homeowners, learning how to decorate can be a challenging endeavor. There are so many factors to consider; where to start, how much to spend, how to layout awkward spaces, what type of furniture to buy. We hope that this article will bring some insight to home decoration and give you some interior design basics to help with decorating your home without too many hassles.

The first step in learning how to decorate is to determine your goals, style, and budget. Ask yourself a few questions about your interior design project. Following is a list of questions that should help you self-explore, and determine where to begin with your project.

1. What is the room or area you are decorating?
2. What is the style you would like this room to have?
3. What is the color scheme you would like to use?
4. What pieces of furniture & accessories will you need for this room, and what do you already have (and how much money are you willing to spend)?
5. How will you layout the space?

These questions are a great starting point to get you thinking about how to approach your interior decorating project. Determining the room you are going to be working on will help you to focus on one particular area, rather than becoming overwhelmed by a whole house, or multiple room projects. Do keep in mind, however that your color scheme and style should flow with other areas of the house.

Determining your style and color scheme are key elements in any room. These will help you set a direction and keep you on track in making choices. You can get interior design ideas from magazines, internet sources, online furniture stores, and from other people’s homes. Make mental notes about what you specifically like and dislike. As you look in furniture stores and online, be sure to make mental notes about the prices of the things you like. This will help you to determine a budget for your project.

You will almost always need to measure the room you are working on so that you know exactly what sized of furniture will fit in the room. If you are creative enough, learn how to draw out a floor plan to show you how to arrange furniture. It can be very expensive and time-consuming to purchase furniture that doesn’t fit in your room, or is ridiculously over, or under scale.

When learning how to decorate, be open to learning and getting interior design ideas from magazines, books and internet sources. Always keep your eyes open for things that you like, and constantly make mental notes about what you like and why. One of the most important interior design basics when starting a project, is to be sure to plan things out. Make the mistakes on paper, and in your mind, before you make the mistakes on your room. This will save you lots of time and effort!

Find more decorating ideas at http://www.designingonabudget.com . Also visit Our Ebook Digital Store for great home, family and business self improvement e-books starting at just $1.

This article may be reproduced as long as it is not changed, and remains intact, including all links, author bio and this statement.

[ad_2]


Deprecated: Function get_magic_quotes_gpc() is deprecated in /home/dubsterir/public_html/wp-includes/formatting.php on line 4358

Benifits of Online Reputation Management

[ad_1]

Your reputation as a company will remain with you throughout your years of business. All it takes is one negative customer to share their experience with ten friends or family members and before you know it your reputation has been dashed. The same applies online and you want to ensure that you focus heavily on your online reputation management, ensuring that you always enjoy a good online reputation to help your business grow now and in the future.

The first step to good online reputation management is to keep your finger on the pulse in terms of your social media presence. You need to monitor your social media accounts at all times, know what people are saying about you, what they are sharing and know when they complement your services or products. The benefit to social media is you can reach a wide audience, but at the same time, you need to ensure the comments being shared are all positive, pushing your business forward.

When focusing on your online reputation, you will see an increase in sales. Your potential and current customers will be able to trust your service and reliability, which in turn can give you the edge over competitors. Customers are looking for a company that can provide you with outstanding service and support, they want a good supplier and if you have an outstanding reputation, they are going to choose your company over the other options available.

In addition to this, you will earn the trust you deserve. So many companies focus on marketing their business online, they focus on social media, pay per click advertising and their website and forget about the one very important element, their reputation. Hiring a professional company who specialise in online reputation management is the best way to ensure success without wasting your time and energy.

Online reputation management ensures that you are always putting your best foot forward. Everyone is going to have to face negativity every now and again in their business, this is expected, you obviously cannot please everyone all of the time. But managing your reputation ensures that your best foot is always forward, it ensures that your customers can grow to trust you and rely on your services now and moving forward.

Choosing to hire an online reputation management specialist enables you to dominate your market. Remember with the introduction of the internet, you aren’t just competing on a local or even national scale anymore, you are competing globally, which means thousands of competitors compared to the few that used to be your main priority. The online reputation management company will help you by doing a thorough competitor analysis, they will identify what your competitors are doing at all times and they will focus on your online efforts, ensuring that your company isn’t seen in a bad light at any time.

Ensure you choose your online reputation management specialist with care. Choose a number of companies offering this service and identify what other online services they provide. Ideally you can find a company that can assist you with your complete online marketing needs.

Always ask the company about businesses they have worked with in the past. Do a search for these companies to identify their online reputation and ask the specialist what they will do for your business to ensure that your best foot is always pointing forward, that your sales are guaranteed to improve and that your brand will always be seen as reputable and reliable.

While you are probably more than capable to managing your own online reputation, think of the time, energy and money you will save by choosing a specialist to handle this for you, enabling you to focus on growing your business on a daily basis.

[ad_2]


Deprecated: Function get_magic_quotes_gpc() is deprecated in /home/dubsterir/public_html/wp-includes/formatting.php on line 4358

Technology and its Impact on Career Development

[ad_1]

Online career development programs

These range from ideal study programs, advisory services and online consultative databases. Workers are busy in their jobs. They have limited time to do other tasks. Technology has changed this. It is now convenient, cheap and even and reliable to study online. 

Taking an online study session

One way to keep you in the job market is to advance your career needs. Companies are more interested with those candidates who are well exposed to their field through research works, attending seminars and also taking more studies on their fields to broaden their knowledge in certain subjects. A young financial manager will take up online studies to further add on the initial education. All is done online from payment of fees to provision of study material and virtual classes.

Online career development consultation

Technology has presented a major breakthrough in provision of information from a sender to a receiver. Consultation firms have come up with data bases from where information is available to prospective readers as far as career developments are concerned. However some of the information is available through purchases. Clients are advised to make advance payments online or otherwise before they are sent the career development packages.

Career tests

You are searching for a job. One major tool you should adopt is to gauge your possibility for attaining that job. You have lost your job through the recession. Then carry out a career test. This is an automated process in which you follow a step wise data provision to a program and you will get the results immediately. It focuses on your self esteem, stress counteraction, energy levels to perform, reaction to change, your tolerance and sociability. It will give you a clear result of your qualification and suitability for a particular job. It can also determine your alternative job.

Online professional career software developments

Software in areas of job search, job trainings, personal build up training, career advisements, career choices and online learning. E- Learning centers have been set up to cater for people who are increasingly looking to advance their education in line with their careers. This is what is being referred to as a cutting edge technology in career development.

[ad_2]


Deprecated: Function get_magic_quotes_gpc() is deprecated in /home/dubsterir/public_html/wp-includes/formatting.php on line 4358

Deprecated: Function get_magic_quotes_gpc() is deprecated in /home/dubsterir/public_html/wp-includes/formatting.php on line 4358

Deprecated: Function get_magic_quotes_gpc() is deprecated in /home/dubsterir/public_html/wp-includes/formatting.php on line 4358

Deprecated: Function get_magic_quotes_gpc() is deprecated in /home/dubsterir/public_html/wp-includes/formatting.php on line 4358

Deprecated: Function get_magic_quotes_gpc() is deprecated in /home/dubsterir/public_html/wp-includes/formatting.php on line 4358

Deprecated: Function get_magic_quotes_gpc() is deprecated in /home/dubsterir/public_html/wp-includes/formatting.php on line 4358