When we are doing our utmost to create a flexible business, that embodies numerous characteristics that benefits the employees and the employer, this is when we have to start paring things down to the bare essentials. The concept of a lean business is something that has proven to be a very effective model for managing teams, in various industries like manufacturing and construction. What are the fundamental principles of implementing a leaner business, and how can we bring these about?
Look For Constant Improvement
Striving for a constant source of improvement is one of the key aspects, and after alleviating the bottlenecks in your process, and establishing a pull system, you need to find ways to continually improve your operations. This is all about enhancing the value while removing the waste. Automation is one of the main components that can help in this respect, and while there are numerous things that you can automate, you need to start simply, with some of the in-house processes that impact the employees directly. You can see more here about invoice automation, and this is one little thing that can make life so much easier all around. Automation is one aspect that you can implement to create constant improvement.
Setting Clear Goals
You have to understand what your end goal is, and you need to communicate this to everybody in your organization. What are you trying to achieve? Whatever the goal is, you have to ensure that it is clearly defined. A clear goal means that you will have a better chance of streamlining your process is accordingly. From there, you can learn how to improve your strengths and minimize your weaknesses. A SWOT analysis certainly provides food for thought in this respect, and once you realize l where your failings are, perhaps this could provide more clarity in setting the goals.
Adopting The Proper Culture
Workplace culture is crucial to improve your business continuously. As the organization demands a certain mindset, this is directly borne out of the culture of the company. Changing the culture from within is a long process, but you can make specific alterations to ensure you head in the right direction. You sure to start small, but also think about altering the mindset of the people that work for you. You can do this by hiring the right sort of people and then you can make those small alterations go further. A proper workplace culture provides ethics, the mindset, as well as the appropriate level of productivity.
A lean business is all about simplicity. This is something many of us tend to overlook. It could be a difficult thing to get started, but once we understand our set goals, this is where our inherent feelings are. And when we embrace the challenge to turn our business into a lean one, we will see the benefits, not just in terms of productivity, the culture of the organization, but we will also see the benefits years down the line. The fact is that it’s not just a process, but it is a way of life.
https://www.strategydriven.com/wp-content/uploads/pexels-photo-1661004.jpeg8761600StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2019-09-03 16:00:442019-09-03 22:48:51The 3 Best Ways To Implement A Leaner Business
Digital marketing is a vital component of any modern business’ strategy for growth and development. But while many businesses recognize the importance of digital marketing, many of them are still trying to keep their costs down by doing it all themselves. Unfortunately for them, this is a recipe for disaster.
Hiring an outside digital marketing agency might seem like a more expensive option, but it offers a number of advantages.
Access the Skills You Need
Putting together a digital marketing team in-house might seem like a more cost-effective option, but this isn’t true for most businesses. In fact, for the majority of businesses, opening your own digital marketing department is going to be significantly more expensive than hiring a Digital Marketing Agency.
Not only is it difficult and expensive to bring onboard people with the specific skills that you need, these people probably won’t be needed on a continual basis. It is worth having some permanent members of your team who can monitor the progress of any current campaigns and can help you to work on your general marketing strategies. But you should bring in the heavy hitters when you really need them.
Maximize Your ROI
ROI is one of the most important things to consider whenever your business is spending money. It doesn’t matter if you are spending a couple of dollars or hundreds of thousands of dollars, you should always be making sure that money is being spent as wisely as possible and is bringing tangible benefits to your business.
Digital marketing agencies are run and staged by talented and experienced marketers; the people who are best positioned to ensure your campaign is as effective and efficient as it can possibly be. Not only this, but digital marketing agencies will know how to best allocate your available budget for maximum returns.
Gain Insight and Perspective
Any team that you assemble in-house is going to be necessarily limited by the skills and experience they possess. A digital marketing agency will be able to pull in individuals from a variety of backgrounds to ensure that they are bringing everything to the table that your business needs to make a success of your next digital marketing campaign.
Meet Your Deadlines
When you are responsible for your own marketing, there is always a temptation to give yourself a bit more time or a bit more money to achieve your goals. This means that campaigns end up being less disciplined and valuable lessons are never learned.
By contrast, a digital marketing agency will always work to the parameters that you set for them. If you tell them that you need a campaign produced within a certain budget or timeframe, they will work to your specifications.
Hiring a dedicated outside marketing agency will ensure that your business has access to all the skills, knowledge, and resources that it needs to pull off a successful campaign. Don’t be put off by the costs involved; if you want to maximize your ROI from your digital marketing campaigns, an outside agency is a much safer bet than trying to do it all in-house.
https://www.strategydriven.com/wp-content/uploads/will-francis-r02wxT3-PYw-unsplash.jpg21603240StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2019-09-03 11:00:272019-09-05 00:03:13Should You Hire a Digital Marketing Agency?
We live in a competitive environment where the business is fueled by technology 24 hours a day, seven days a week, and because of this, we need to be flexible. The days where you could create business plans a year ahead of time and expect to be able to stick to them with nothing changing are long gone. While planning is a necessity to succeed in business, particularly for long-term vision, short-term activity and flexibility are just as important. You need to be able to move when needed and respond quickly to changes in the market.
Now that we have so much business data, there is an endless supply of information available regarding our customers, our competitors, and our business results. While this is so useful, and we have more insight than ever before, the minute you make an important decision, it’s highly likely that new data will come along and completely change your direction. Rather than seeing this as a bad thing, it’s important to see how great it is because it allows you to correct the course that your business is going and make sure that by changing strategy and adapting to new results that you get the desired results that you forecasted. This is a good thing and something to be embraced, so look at new data as a mountain of information and an endless stream of insight that will allow you to flexibly change your plan to ensure success.
Embracing these new customers from new generations who have been born with the internet and mobile phones as the norm in their lives means that you need to give them what they want and that requires flexibility in how we communicate with them. You need to be able to move flexibly with your audience and growing customer base to introduce them to your brand but on their terms, rather than how you think it should be.
Technology has also meant that there has been a huge shift in the traditional business model; just look at the number of brick-and-mortar stores which are closing each week. The way we do business has dramatically changed, so if your business isn’t flexible enough to keep up with the changing times, then it will get left behind. You need to be flexible enough to shift your business model as you need to, and you can do this by using your customers and their needs as your guide. As things change, you have to get used to the fact that your old habits probably won’t work anymore, so it’s important to change them in order to create new ways of driving your business forward. Again, this isn’t a bad thing, as a change in the business model just means a new opportunity for growth. To succeed in business, it is more important to be flexible right now than it ever has been and what this means is that you may just have to make newer and bigger decisions on a daily basis to keep your business fresh and up to date as you gather new information. It might seem like a lot of hard work, but at least it makes things interesting, and if you get used to this way of working then you will easily attract new customers, and find it easier each time you need to refresh your business model for continued success.
Flexibility in the way businesses operate can take many forms, but adaptability and agility are increasingly becoming key attributes in competitive enterprise scenarios. There is a real need for flexibility at a strategic level, both in terms of the way in which businesses operate and from the perspective of individual employees. Here’s a look at some of the essential ways in which businesses can look to make their operations and their workforces more flexible:
Remote working
Through technological advancements, remote working has been made increasingly possible over the past decade or so, and it’s now an accepted part of the way many organizations operate. Different roles bring particular demands on individuals, but virtually all businesses stand to benefit from giving members of their workforce the chance to function as normal from almost anywhere.
Deploying new solutions
Equipping staff with the smartphones, tablets, and laptops they need to operate seamlessly on the move or wherever they might be is vitally important in the context of enterprises becoming flexible. But new software solutions and cloud-based business applications can be crucial too in giving businesses the best chance to be flexible and more efficient in a variety of valuable ways. There are also more physical ways to ensure flexibility, for example, if your business manages a fleet of vehicles then look at getting a Watchcard which allows you the convenience and flexibility to fuel anywhere in the U.S. with the control and security to monitor and limit purchases, track suspicious activity, and access fuel data about your fleet. This flexibility means you can manage your fleet effectively while saving time and money and gives you the power to drive your business forward and save.
Flexible hours
The advance of communications technologies of different sorts has opened up the prospect for employees of working from home and in patterns that suit their individual needs. Businesses that embrace flexible working are seeing benefits in terms of employee morale and staff retention but also from the perspective of meeting customer needs. Companies of all sizes increasingly need to be operational around the clock and having resources’ out of hours’ has become an integral part of how service providers deliver what their customers want without disruption.
Cash Flow Options
As we all know, cash flow is the lifeblood of businesses big or small and ensuring financial flexibility can be the difference between a company remaining operational and biting the dust. For small to medium-sized operators, in particular, financial margins can be tight and unforgiving. So, being aware of, and having in place, a number of emergency financing options can often be essential in keeping companies afloat during times of acute pressure on cash flows and income streams.
Be Flexible With Flexibility
While many think of being flexible in business as offering flexible hours and working from home, there is actually a lot more to making a business a flexible one. Have a look at where you can make differences to your employees, for example; you could introduce secondments, career breaks, and volunteering opportunities. All of these opportunities will make you a far more attractive employer for the new generation of employees to work for. You have to be flexible in adapting to what prospective employees are now looking for in the workplace and take these needs and wants into account. If you are good to your employees then, in turn, people will be loyal to you as an employer. If you can be understanding that your employees need breaks; they might want to explore, volunteer and travel and shouldn’t have to lose a job they love and are good at just because of having interesting outside of work. If you are the employee then again, speak out and tell your employer what it is you want, they either want to lose you, or they don’t, but any career break or secondment will only be good for your career and experience so they’d be silly not to offer you the chance to come back.
Flexibility is something of a buzzword in business at present, but it isn’t necessarily worth pursuing its own sake. What flexibility really means and why it’s important is that it makes businesses more robust, more adaptable, more competitive, and better prepared for whatever opportunities and challenges the future might bring.
https://www.strategydriven.com/wp-content/uploads/girl-1909006_640.jpg451640StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2019-09-02 16:00:522019-09-02 21:11:52Finding More Flexibility For Your Business
Digital marketing is slowly, but surely growing from a “nice to have” to a necessity. With so many audiences, especially the younger ones, moving away from linear television, barely touching newspapers or magazines and with their heads down into their phones even out on the streets, it seems that the only sensible place advertisers can find their audiences now is in the online space. This is driving advertisers to adapt and form digital media strategies, but media practices from the offline world don’t translate well to the online world.
Out with the Old
Where you used to define personas and find the right publication or TV programme that fit your audience, it seems that these rules don’t apply to the online world. Your audience is out there on multiple places, consuming different media, sometimes even at the same time, with each moment of interaction you have just a small window of opportunity, sometimes even barely a second. To be successful in advertising in the online marketing space, you will need to connect all the dots and deal with the complexity (and maybe even ambiguity) of the online marketing world. Moreover, that’s asking for quite a bit, which most likely can’t be found in one person or advertising agency.
No Buyers, Only Specialists Here
The problem is the balance between the complexity of online marketing disciplines and the way the market moves on. Where you used to be dealing with media buyers (people who would take care of booking media buys, placing the advert, handle the back and forth between the publisher and the creative agency), you now must deal with channel specialists. These people are professionals in their field but usually are not trained to guide a client through connecting all the dots. Even channels that seemingly should be close to each other are, under further inspection, fundamentally different. Advertisers who have been dealing with digital agencies will mostly agree not to expect agencies to be able to provide a consistent overall media view, as you would have had with offline media agencies. The most practical way as an advertiser to take care of your digital marketing mix is to take the reins themselves. That doesn’t mean to do it yourself (although in-housing seems to be a trend of late) but to start speaking the same language as the digital marketers.
Measure Everything
This also means understanding and challenged its most hailed aspects of digital marketing, which inadvertently is also its downfall, the ability to measure everything. Traditional media would have panel data to provide some insight into what the effect the media buy would have had (by proxy), online media comes with the promise to be able to measure everything. In digital speak, we call this tracking, which relies on “pixels being fired” and “cookies.” Essentially this means that advertisers (and publishers that help the advertisers) try to provide the most complete of the consumer based on data they might have volunteered and data that can be inferred. Pixels and cookies provide a bread crumb trail to piece this all together. Apart from the ethical and privacy issues at play here, this sounds to most advertisers as the holy grail, to be able to pay for only those audiences and people that fit your audience perfectly.
Post-view
However, that attention to measuring everything can turn into an obsession. Take display and video ad formats, for example. On pretty much every publisher, these are ad formats that are offered up widely. Videos have taken a flight by being offered in-stream, which basically means its tacked in upfront or in the middle of a video that someone is trying to watch. You can have a skippable or un-skippable variant, and most publishers offer a cost-per-view model based on percentage or minimal seconds watched.
In most cases, the video is an unwanted interruption of someone’s flow, which in turn leads to very few people engaging with the advert and ending up on the advertiser’s website. Display ads have the same problem, although in a lesser extent (but just barely). The display banners show up as a distraction when someone is doing something else and might not be in the mindset to engage with an advertiser. Both video and display ads will usually have a lot of impressions (the advert was shown) but not many interactions. To still proof value, the industry has come up with a metric called view-through conversions. This essentially measures if a conversion has taken place after someone has viewed the ad, usually within a specific timeframe.
Last click wins
On the other side of display and video ads, you have many pay-per-click possibilities. One of the key ones here is paid search ads. It’s dominant in such a way that most people refer to paid search ads as PPC ads, although the concept of PPC refers to the method of publisher payment (for example display ads can be on a CPC model). This is, for most advertisers, the absolute darling of digital marketing. PPC in 99% of all cases all the way down in the marketing funnel, i.e., likely the last interaction before a consumer makes a purchase.
Even more so, those display and video adverts could very well have been earlier in the process and led to a PPC click. Paid search ads are usually measured on the last click wins method, which is standard across most advertisers. The last click wins will not add up with a post-view conversion, attributing all value to PPC and making a post-view conversion meaningless. Therefore, especially when marketing budgets are getting the squeeze, display, and video ads lose out.
The Mantra for Advertisers
The risk you run of this principle is that all the attention is going to PPC and none is given to display and video. In other words, all the attention goes to the bottom of the funnel and none to filling up the funnel. Advertisers who do this find themselves with diminishing returns over time and a drying up supply of new users to the website. The savvy advertiser understands the value of harvesting the low hanging fruit but always ensures that consumers keep coming through the funnel, by smartly filling it up from the top.
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Hiring the wrong person can be a costly mistake and leave you feeling frustrated that you have no one to complete the work that needs to be done. Therefore, it’s extremely important that if you want your organization to succeed, that you hire the right person for the job each and every time.
There are steps you can take to help ensure you achieve this goal and aren’t wasting your time or anyone else’s. Remember that it’s never a bad idea to reach out to current employees when you’re on the hunt to fill positions to see if they have any suggestions before you go out looking elsewhere.
Work with A Specialist
There are companies such as Devonshire recruitment whose job and desire it is to help you fill positions at your workplace. They have a pool of candidates who are prepared to speak with you and will be a good fit right from the start. You can make sure you hire the right person for the job by being specific and transparent with your job description, and only bringing people in for interviews who align with your objectives and specific position requirements.
Invite Candidates to Take Psychometric Tests
There are dozens of psychometric tests such as The PI Behavioral Assessment Test, which help employers to filter out the best candidates for the benefit of their business.
These kinds of tests measure a candidate’s skill level in relation to problem-solving, ability to do the work, behavioral traits, and patterns and etc.
Contact References
It’s good practice to ask for several references from candidates on your final job application. Not only should you look to see who they are, but you should also take the extra step and time to contact them. You can learn a lot about an individual by how they’ve previously performed and what their strengths and weaknesses have been in the past. Ask the right questions and encourage the other person to be as candid and open as possible in their responses.
Hold Multiple Interviews
One interview isn’t going to give you enough time to figure out if the person you’re speaking with is right for the job. Therefore, it’s important to hold multiple interviews and in many different forms before hiring someone. For instance:
On the phone
Face-to-face
Interviews held by different leadership members
Interviews held by different department heads
Verbal and written tests
These are a few ways for how you can mix up the interview process and evaluate a candidate on their various skills and abilities to make sure they’re a good fit at your workplace. It’ll be helpful to get feedback from other people at your company as well to hear what they have to say about a potential candidate so you can compare notes.
Take Your Time
What’s going to help you out the most in your search to find the right candidate for the job is to go slow and take your time. Rushing through the interview process and failing to write a detailed job description is only going to hurt you and your company in the long run. Instead, take advantage of these suggestions for how you can make sure you’re hiring the right person for the job, and this way, they should also be more likely to stick around for the long-term.
https://www.strategydriven.com/wp-content/uploads/amy-hirschi-K0c8ko3e6AA-unsplash.jpg36485472StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2019-09-02 09:00:102020-07-17 23:56:04How To Make Sure You Hire The Right Person For The Job
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The 3 Best Ways To Implement A Leaner Business
/in Managing Your Business/by StrategyDrivenWhen we are doing our utmost to create a flexible business, that embodies numerous characteristics that benefits the employees and the employer, this is when we have to start paring things down to the bare essentials. The concept of a lean business is something that has proven to be a very effective model for managing teams, in various industries like manufacturing and construction. What are the fundamental principles of implementing a leaner business, and how can we bring these about?
Look For Constant Improvement
Striving for a constant source of improvement is one of the key aspects, and after alleviating the bottlenecks in your process, and establishing a pull system, you need to find ways to continually improve your operations. This is all about enhancing the value while removing the waste. Automation is one of the main components that can help in this respect, and while there are numerous things that you can automate, you need to start simply, with some of the in-house processes that impact the employees directly. You can see more here about invoice automation, and this is one little thing that can make life so much easier all around. Automation is one aspect that you can implement to create constant improvement.
Setting Clear Goals
You have to understand what your end goal is, and you need to communicate this to everybody in your organization. What are you trying to achieve? Whatever the goal is, you have to ensure that it is clearly defined. A clear goal means that you will have a better chance of streamlining your process is accordingly. From there, you can learn how to improve your strengths and minimize your weaknesses. A SWOT analysis certainly provides food for thought in this respect, and once you realize l where your failings are, perhaps this could provide more clarity in setting the goals.
Adopting The Proper Culture
Workplace culture is crucial to improve your business continuously. As the organization demands a certain mindset, this is directly borne out of the culture of the company. Changing the culture from within is a long process, but you can make specific alterations to ensure you head in the right direction. You sure to start small, but also think about altering the mindset of the people that work for you. You can do this by hiring the right sort of people and then you can make those small alterations go further. A proper workplace culture provides ethics, the mindset, as well as the appropriate level of productivity.
A lean business is all about simplicity. This is something many of us tend to overlook. It could be a difficult thing to get started, but once we understand our set goals, this is where our inherent feelings are. And when we embrace the challenge to turn our business into a lean one, we will see the benefits, not just in terms of productivity, the culture of the organization, but we will also see the benefits years down the line. The fact is that it’s not just a process, but it is a way of life.
Should You Hire a Digital Marketing Agency?
/in Online Marketing and Website Development/by StrategyDrivenDigital marketing is a vital component of any modern business’ strategy for growth and development. But while many businesses recognize the importance of digital marketing, many of them are still trying to keep their costs down by doing it all themselves. Unfortunately for them, this is a recipe for disaster.
Hiring an outside digital marketing agency might seem like a more expensive option, but it offers a number of advantages.
Access the Skills You Need
Putting together a digital marketing team in-house might seem like a more cost-effective option, but this isn’t true for most businesses. In fact, for the majority of businesses, opening your own digital marketing department is going to be significantly more expensive than hiring a Digital Marketing Agency.
Not only is it difficult and expensive to bring onboard people with the specific skills that you need, these people probably won’t be needed on a continual basis. It is worth having some permanent members of your team who can monitor the progress of any current campaigns and can help you to work on your general marketing strategies. But you should bring in the heavy hitters when you really need them.
Maximize Your ROI
ROI is one of the most important things to consider whenever your business is spending money. It doesn’t matter if you are spending a couple of dollars or hundreds of thousands of dollars, you should always be making sure that money is being spent as wisely as possible and is bringing tangible benefits to your business.
Digital marketing agencies are run and staged by talented and experienced marketers; the people who are best positioned to ensure your campaign is as effective and efficient as it can possibly be. Not only this, but digital marketing agencies will know how to best allocate your available budget for maximum returns.
Gain Insight and Perspective
Any team that you assemble in-house is going to be necessarily limited by the skills and experience they possess. A digital marketing agency will be able to pull in individuals from a variety of backgrounds to ensure that they are bringing everything to the table that your business needs to make a success of your next digital marketing campaign.
Meet Your Deadlines
When you are responsible for your own marketing, there is always a temptation to give yourself a bit more time or a bit more money to achieve your goals. This means that campaigns end up being less disciplined and valuable lessons are never learned.
By contrast, a digital marketing agency will always work to the parameters that you set for them. If you tell them that you need a campaign produced within a certain budget or timeframe, they will work to your specifications.
Hiring a dedicated outside marketing agency will ensure that your business has access to all the skills, knowledge, and resources that it needs to pull off a successful campaign. Don’t be put off by the costs involved; if you want to maximize your ROI from your digital marketing campaigns, an outside agency is a much safer bet than trying to do it all in-house.
Finding More Flexibility For Your Business
/in Managing Your Business/by StrategyDrivenWe live in a competitive environment where the business is fueled by technology 24 hours a day, seven days a week, and because of this, we need to be flexible. The days where you could create business plans a year ahead of time and expect to be able to stick to them with nothing changing are long gone. While planning is a necessity to succeed in business, particularly for long-term vision, short-term activity and flexibility are just as important. You need to be able to move when needed and respond quickly to changes in the market.
Now that we have so much business data, there is an endless supply of information available regarding our customers, our competitors, and our business results. While this is so useful, and we have more insight than ever before, the minute you make an important decision, it’s highly likely that new data will come along and completely change your direction. Rather than seeing this as a bad thing, it’s important to see how great it is because it allows you to correct the course that your business is going and make sure that by changing strategy and adapting to new results that you get the desired results that you forecasted. This is a good thing and something to be embraced, so look at new data as a mountain of information and an endless stream of insight that will allow you to flexibly change your plan to ensure success.
Embracing these new customers from new generations who have been born with the internet and mobile phones as the norm in their lives means that you need to give them what they want and that requires flexibility in how we communicate with them. You need to be able to move flexibly with your audience and growing customer base to introduce them to your brand but on their terms, rather than how you think it should be.
Technology has also meant that there has been a huge shift in the traditional business model; just look at the number of brick-and-mortar stores which are closing each week. The way we do business has dramatically changed, so if your business isn’t flexible enough to keep up with the changing times, then it will get left behind. You need to be flexible enough to shift your business model as you need to, and you can do this by using your customers and their needs as your guide. As things change, you have to get used to the fact that your old habits probably won’t work anymore, so it’s important to change them in order to create new ways of driving your business forward. Again, this isn’t a bad thing, as a change in the business model just means a new opportunity for growth. To succeed in business, it is more important to be flexible right now than it ever has been and what this means is that you may just have to make newer and bigger decisions on a daily basis to keep your business fresh and up to date as you gather new information. It might seem like a lot of hard work, but at least it makes things interesting, and if you get used to this way of working then you will easily attract new customers, and find it easier each time you need to refresh your business model for continued success.
Flexibility in the way businesses operate can take many forms, but adaptability and agility are increasingly becoming key attributes in competitive enterprise scenarios. There is a real need for flexibility at a strategic level, both in terms of the way in which businesses operate and from the perspective of individual employees. Here’s a look at some of the essential ways in which businesses can look to make their operations and their workforces more flexible:
Remote working
Through technological advancements, remote working has been made increasingly possible over the past decade or so, and it’s now an accepted part of the way many organizations operate. Different roles bring particular demands on individuals, but virtually all businesses stand to benefit from giving members of their workforce the chance to function as normal from almost anywhere.
Deploying new solutions
Equipping staff with the smartphones, tablets, and laptops they need to operate seamlessly on the move or wherever they might be is vitally important in the context of enterprises becoming flexible. But new software solutions and cloud-based business applications can be crucial too in giving businesses the best chance to be flexible and more efficient in a variety of valuable ways. There are also more physical ways to ensure flexibility, for example, if your business manages a fleet of vehicles then look at getting a Watchcard which allows you the convenience and flexibility to fuel anywhere in the U.S. with the control and security to monitor and limit purchases, track suspicious activity, and access fuel data about your fleet. This flexibility means you can manage your fleet effectively while saving time and money and gives you the power to drive your business forward and save.
Flexible hours
The advance of communications technologies of different sorts has opened up the prospect for employees of working from home and in patterns that suit their individual needs. Businesses that embrace flexible working are seeing benefits in terms of employee morale and staff retention but also from the perspective of meeting customer needs. Companies of all sizes increasingly need to be operational around the clock and having resources’ out of hours’ has become an integral part of how service providers deliver what their customers want without disruption.
Cash Flow Options
As we all know, cash flow is the lifeblood of businesses big or small and ensuring financial flexibility can be the difference between a company remaining operational and biting the dust. For small to medium-sized operators, in particular, financial margins can be tight and unforgiving. So, being aware of, and having in place, a number of emergency financing options can often be essential in keeping companies afloat during times of acute pressure on cash flows and income streams.
Be Flexible With Flexibility
While many think of being flexible in business as offering flexible hours and working from home, there is actually a lot more to making a business a flexible one. Have a look at where you can make differences to your employees, for example; you could introduce secondments, career breaks, and volunteering opportunities. All of these opportunities will make you a far more attractive employer for the new generation of employees to work for. You have to be flexible in adapting to what prospective employees are now looking for in the workplace and take these needs and wants into account. If you are good to your employees then, in turn, people will be loyal to you as an employer. If you can be understanding that your employees need breaks; they might want to explore, volunteer and travel and shouldn’t have to lose a job they love and are good at just because of having interesting outside of work. If you are the employee then again, speak out and tell your employer what it is you want, they either want to lose you, or they don’t, but any career break or secondment will only be good for your career and experience so they’d be silly not to offer you the chance to come back.
Flexibility is something of a buzzword in business at present, but it isn’t necessarily worth pursuing its own sake. What flexibility really means and why it’s important is that it makes businesses more robust, more adaptable, more competitive, and better prepared for whatever opportunities and challenges the future might bring.
Digital Marketing Mantra for Advertisers
/in Online Marketing and Website Development/by StrategyDrivenDigital marketing is slowly, but surely growing from a “nice to have” to a necessity. With so many audiences, especially the younger ones, moving away from linear television, barely touching newspapers or magazines and with their heads down into their phones even out on the streets, it seems that the only sensible place advertisers can find their audiences now is in the online space. This is driving advertisers to adapt and form digital media strategies, but media practices from the offline world don’t translate well to the online world.
Out with the Old
Where you used to define personas and find the right publication or TV programme that fit your audience, it seems that these rules don’t apply to the online world. Your audience is out there on multiple places, consuming different media, sometimes even at the same time, with each moment of interaction you have just a small window of opportunity, sometimes even barely a second. To be successful in advertising in the online marketing space, you will need to connect all the dots and deal with the complexity (and maybe even ambiguity) of the online marketing world. Moreover, that’s asking for quite a bit, which most likely can’t be found in one person or advertising agency.
No Buyers, Only Specialists Here
The problem is the balance between the complexity of online marketing disciplines and the way the market moves on. Where you used to be dealing with media buyers (people who would take care of booking media buys, placing the advert, handle the back and forth between the publisher and the creative agency), you now must deal with channel specialists. These people are professionals in their field but usually are not trained to guide a client through connecting all the dots. Even channels that seemingly should be close to each other are, under further inspection, fundamentally different. Advertisers who have been dealing with digital agencies will mostly agree not to expect agencies to be able to provide a consistent overall media view, as you would have had with offline media agencies. The most practical way as an advertiser to take care of your digital marketing mix is to take the reins themselves. That doesn’t mean to do it yourself (although in-housing seems to be a trend of late) but to start speaking the same language as the digital marketers.
Measure Everything
This also means understanding and challenged its most hailed aspects of digital marketing, which inadvertently is also its downfall, the ability to measure everything. Traditional media would have panel data to provide some insight into what the effect the media buy would have had (by proxy), online media comes with the promise to be able to measure everything. In digital speak, we call this tracking, which relies on “pixels being fired” and “cookies.” Essentially this means that advertisers (and publishers that help the advertisers) try to provide the most complete of the consumer based on data they might have volunteered and data that can be inferred. Pixels and cookies provide a bread crumb trail to piece this all together. Apart from the ethical and privacy issues at play here, this sounds to most advertisers as the holy grail, to be able to pay for only those audiences and people that fit your audience perfectly.
Post-view
However, that attention to measuring everything can turn into an obsession. Take display and video ad formats, for example. On pretty much every publisher, these are ad formats that are offered up widely. Videos have taken a flight by being offered in-stream, which basically means its tacked in upfront or in the middle of a video that someone is trying to watch. You can have a skippable or un-skippable variant, and most publishers offer a cost-per-view model based on percentage or minimal seconds watched.
In most cases, the video is an unwanted interruption of someone’s flow, which in turn leads to very few people engaging with the advert and ending up on the advertiser’s website. Display ads have the same problem, although in a lesser extent (but just barely). The display banners show up as a distraction when someone is doing something else and might not be in the mindset to engage with an advertiser. Both video and display ads will usually have a lot of impressions (the advert was shown) but not many interactions. To still proof value, the industry has come up with a metric called view-through conversions. This essentially measures if a conversion has taken place after someone has viewed the ad, usually within a specific timeframe.
Last click wins
On the other side of display and video ads, you have many pay-per-click possibilities. One of the key ones here is paid search ads. It’s dominant in such a way that most people refer to paid search ads as PPC ads, although the concept of PPC refers to the method of publisher payment (for example display ads can be on a CPC model). This is, for most advertisers, the absolute darling of digital marketing. PPC in 99% of all cases all the way down in the marketing funnel, i.e., likely the last interaction before a consumer makes a purchase.
Even more so, those display and video adverts could very well have been earlier in the process and led to a PPC click. Paid search ads are usually measured on the last click wins method, which is standard across most advertisers. The last click wins will not add up with a post-view conversion, attributing all value to PPC and making a post-view conversion meaningless. Therefore, especially when marketing budgets are getting the squeeze, display, and video ads lose out.
The Mantra for Advertisers
The risk you run of this principle is that all the attention is going to PPC and none is given to display and video. In other words, all the attention goes to the bottom of the funnel and none to filling up the funnel. Advertisers who do this find themselves with diminishing returns over time and a drying up supply of new users to the website. The savvy advertiser understands the value of harvesting the low hanging fruit but always ensures that consumers keep coming through the funnel, by smartly filling it up from the top.
How To Make Sure You Hire The Right Person For The Job
/in Talent Management/by StrategyDrivenThere are steps you can take to help ensure you achieve this goal and aren’t wasting your time or anyone else’s. Remember that it’s never a bad idea to reach out to current employees when you’re on the hunt to fill positions to see if they have any suggestions before you go out looking elsewhere.
Work with A Specialist
There are companies such as Devonshire recruitment whose job and desire it is to help you fill positions at your workplace. They have a pool of candidates who are prepared to speak with you and will be a good fit right from the start. You can make sure you hire the right person for the job by being specific and transparent with your job description, and only bringing people in for interviews who align with your objectives and specific position requirements.
Invite Candidates to Take Psychometric Tests
There are dozens of psychometric tests such as The PI Behavioral Assessment Test, which help employers to filter out the best candidates for the benefit of their business.
These kinds of tests measure a candidate’s skill level in relation to problem-solving, ability to do the work, behavioral traits, and patterns and etc.
Contact References
It’s good practice to ask for several references from candidates on your final job application. Not only should you look to see who they are, but you should also take the extra step and time to contact them. You can learn a lot about an individual by how they’ve previously performed and what their strengths and weaknesses have been in the past. Ask the right questions and encourage the other person to be as candid and open as possible in their responses.
Hold Multiple Interviews
One interview isn’t going to give you enough time to figure out if the person you’re speaking with is right for the job. Therefore, it’s important to hold multiple interviews and in many different forms before hiring someone. For instance:
These are a few ways for how you can mix up the interview process and evaluate a candidate on their various skills and abilities to make sure they’re a good fit at your workplace. It’ll be helpful to get feedback from other people at your company as well to hear what they have to say about a potential candidate so you can compare notes.
Take Your Time
What’s going to help you out the most in your search to find the right candidate for the job is to go slow and take your time. Rushing through the interview process and failing to write a detailed job description is only going to hurt you and your company in the long run. Instead, take advantage of these suggestions for how you can make sure you’re hiring the right person for the job, and this way, they should also be more likely to stick around for the long-term.