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How to Spot the Difference Between Webinars and Online Meetings

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StrategyDriven Practices for Professionals Article |Webinars and Online Meetings|How to Spot the Difference Between Webinars and Online MeetingsIn 2020 the business landscape has experienced a wild ride. In a matter of months, the tried and tested analogue working world has shifted almost entirely to a digital way of life. Gone were the conference halls and meeting rooms, in came the online meetings and webinars.

But with so many new users starting with virtual conferencing from scratch, there has been a lot of confusion surrounding the jargon. It’s like learning entirely new vocabulary: webcasts, screen sharing, virtual conferencing, remote access and more.

One key point of confusion surrounds the difference between webinars and online meetings. At first glance, they might seem remarkably similar, with many mistakenly using the words interchangeably. However, after this article, you will hopefully see there is a world of difference, and it’s vital to know what they are and when to use them.

So, let’s begin!

How to Tell the Difference

At the most basic level, it revolves around size. Online or virtual meetings are most often employed when a small group of people want to get together to discuss and idea or project. These meetings are collaborative with everyone taking a role in the proceedings, and they usually shouldn’t include more than twenty-five people.

In contrast, a webinar is for the masses, with some platforms allowing the organiser to host five-hundred people or more. In these sessions, one person or group typically talks to the rest. Think of it less like a meeting and more as a conference. Or as the name suggests, a seminar.

When to Use an Online Meeting?

Such meetings are great on a number of occasions. Firstly, if you need to liaise with one person or a small team, they are the perfect way to exchange ideas quickly and in real-time. They’re much quicker than email. They can also be suitable for larger conferences; however, consider the aim of the meeting. Are you here to display a product to others, or is the meeting primarily a collaborative approach? Do you want everyone to contribute?

If the answer is yes, then an online meeting is the perfect medium. They’re all about discussion.

As such, the tools available during the meeting are designed to facilitate the exchange of ideas. Virtual whiteboards allow attendees to sketch out their ideas for all to see. If you’re struggling to explain a complicated topic or you want to make notes as you speak, use the whiteboard to draw diagrams and connect ideas. They’re also fantastic for a quick brainstorming session. Meanwhile, screen sharing enables each meeting participant to show their work or to switch slides in a presentation smoothly.

As you might imagine, such meetings are brilliant for connecting with a client half-way around the world (they also save on travel costs). However, the downside comes with the home backdrop, which can look unprofessional to a client. Choose a Zoom virtual background for your next interview with a client, selecting from stylish offices to swanky boardrooms. To give the meeting an exceptionally professional feel, have the entire team use the same backdrop, for a sense of continuity.

When to Use a Webinar?

As mentioned, webinars are designed for big crowds. They’re the virtual equivalent of a conference hall. If the meeting isn’t a discussion, but rather a large-scale presentation: pick a webinar. They prevent any interruptions, allowing a speaker to showcase their product or idea.

People have used webinars for lectures, training seminars, or for a companywide update on progress. However, one concern is often raised: audience participation. While the speaker doesn’t want to be interrupted every minute, they want to keep the audience engaged.
Thankfully, with polls and surveys, speakers can test the mood in the room. Or they can use a curated Q&A to answer questions in real-time, clarifying any confusions.

As promised, you now know the critical differences between online meetings and webinars. Are you planning a cosy collaboration with your team, or do you need to present your product to the world? Either way, you have the tools at your disposal.

5 Project Management Mistakes and How to Avoid Them

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StrategyDriven Project Management Article |management mistakes|5 Project Management Mistakes and How to Avoid ThemNo matter your company or industry, one thing is true: you’re working on projects. And the truth is that these projects don’t always go well.

In fact, did you know that 70% of organizations have suffered at least one project failure in the last 12 months?

It doesn’t have to be this way. With effective project management, you can stay on top of your company’s various projects and priorities.

But if you’re new to project management, it can be easy to mess up. Keep reading for 6 project management mistakes and how to avoid them.

1. The Goal is Unclear

First and foremost, everyone in your organization needs to understand the goal of your project. What’s the main objective?
Understanding your end result will help make the entire process simpler. If you don’t have this, your project will likely fail.

Think about your ideal final state. What do you want to have done?

Then consider how you will measure the success of your project. Will it be when the website is finished and launched? Perhaps you’ll base success off of results like sales.

No matter the metric, having this clearly defined will make your experience much better.

2. Failing to Manage Project Scope

For many project managers, scope creep is one of the most common management mistakes. Let’s talk about it.

As projects progress, it’s common for you to discover additional tasks that need to get done. Other ideas may emerge. New requests may come in from other stakeholders.

All of this can add to the scope getting out of hand, referred to as scope creep. In definition form, scope creep is adding more features and functionality to a project without addressing the changes to timeframe, resources, and/or costs.

To avoid scope creep from derailing your projects, be sure to have a clear process in place when new asks or changes do come in. Because they will. They always do.

Consider creating a scope document. At the beginning of your project, clearly outline all of the tasks you’re going to complete for this project. Have this agreed upon and assigned by all stakeholders.

Then, as new things emerge, take time as a group to assess the impact to both budget and schedule. If they’re minor, okay. If they’re major, it’s usually best to assign those tasks their own separate project to be completed at a later date.

3. Poor Communication

Whenever you’re working with a group, communication is key. That’s just a given.

But when you’re the project manager, and your job is to make sure things get done at a high level on the right schedule, communicating effectively is even more important.

Set up systems to keep everyone informed and involved.

Will you have a weekly meeting to address progress, roadblocks, and answer questions? Will you communicate via email or a messaging service? What type of project management software will you use and what functionality does it have in terms of communication between team members?

These are all important things to consider. The most important thing is to have clearly defined channels of communication and a regular schedule that people can depend on.

4. Lack of Prioritization

As a project manager, here’s one of the most important lessons you’ll learn: not all projects are created equal.

This means that some tasks are massive and some are small. Some will have a massive impact on the business’ bottom line immediately. Others will take a while to show results.

With so much variation, it’s crucial that you get good at prioritizing.

Take some time to come up with a system that aligns with your organization’s goals. Think about the following things as you prioritize:

  • The impact on revenue
  • The impact on customer experience
  • The long-term impact
  • The amount of resources needed
  • The length of time for the project

To do this, it may be helpful to break projects up into tasks and subtasks. This will help you truly understand the complete scope of projects before you make a final decision on what needs to get done first.

You can also loop in managers from across the department or company to get their input as well. This can be super helpful. Learn more in this post.

5. Poorly Estimating Time and Budget

At the end of the day, time and budget are two of the most influential factors in your life as a project manager. So estimating these incorrectly can completely derail your projects.

It’s easy to overlook potential issues as you’re planning. To avoid this, make sure you include managers as you make plans. They’ll have more context and understanding of the ins and outs of their areas.

Also always plan in some wiggle room when it comes to timeframe and costs. They often are higher than you expect at first.
It doesn’t have to be massive, but include an extra 10% for budget and timeframe. You’ll thank yourself later.

Project Management Mistakes: Avoid Disaster

There you have it: 5 of the biggest project management mistakes you should try to avoid. By avoiding these mistakes, you’ll save yourself and your company a lot of grief.

And your projects will be more successful, meaning great things for your career.

Now that you’ve read through these tips, next it’s time to put them into place. Where do you need the most help? Start there and move on as you go.

Want to learn more about thriving in your career? Check out our blog for additional tips and tricks today.

The Rise of Alternative Online Businesses

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StrategyDriven Entrepreneurship Article |Online Businesses|The Rise of Alternative Online Businesses The internet has become part of our society in just about every possible way, and it has certainly revolutionized the way we do business. No matter the sector, buying, trading, and selling goes on every day with new companies and products emerging all the time.

The result is an incredibly competitive marketplace which often feels saturated with small, medium, and large organizations vying for visibility.

Surely, then, there is no more room for another online business? Not so. The truth is that there will always be room for more online businesses if there are entrepreneurs coming up with alternative business concepts and innovative services/products.

To inspire you on your journey to starting your own online business, this article explores the alternative ones which have risen to success in recent years.

Cyber Security

The internet is a wonderful entity, but it can also be dangerous if we are not careful. There are cybercriminals and hackers working all the time to try and exploit individuals and organizations by accessing sensitive information. This has brought about a need for cybersecurity professionals who are essentially ethical hackers. A business will ask them to try and hack into their system so that they can identify their weaknesses before a hacker with criminal intent finds them.

Subscription services

In a world where we do a lot of our shopping online, we have replaced the experience of physically visiting a store to buy something and walking out with our new purchases. Instead, we experience a different excitement of clicking a few buttons and waiting for the delivery.

With subscription services, people sign up to receive a box of products through the mail on a monthly or quarterly basis. The products might be items they use all the time like vaping juices from ZampleBox — in which case, the service offers convenience and value for money — or luxury items, product samples, or mystery products.

Dropshipping and affiliate marketing

If you do not have the space to store stock but are interested in retail, a dropshipping business could be perfect. In this scenario, you create a website to sell products, but you do not stock the product. When an order is placed with you, you send this information to another company, either a stockist or manufacturer, who is responsible for storing, packing, and distributing the stock.

With affiliate marketing you create websites, posts on social media, and other digital marketing campaigns which promote another brand’s products or service. When you bring in a sale for the brand, you earn commission.

Influencer marketing

An increasingly popular career path is influencer marketing. People with a substantial social media following are paid to try, wear, review, and recommend products to their audience. Brands will approach influencers whose audience includes their target customers and pay them for their endorsement.

Creating Apps

If you are technologically minded, creating apps and games can be a very lucrative business. When your app is designed you can promote it via blogs, social media, and other digital marketing techniques to encourage people to download the app. Some app creators charge for the initial download, others offer the app for free but then make money via in-game purchases and/or selling advertising space to other brands.

6 Myths about Outsourcing Busted

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StrategyDriven Managing Your Business Article |Myths about Outsourcing|6 Myths about Outsourcing BustedOutsourcing can often receive a bad rap. In the business world, both big and small, many shun outsourcing due to preconceived notions about what it is and what its outcomes are. The truth of the matter, though, is that many companies are finding great benefits to partnering with external agencies or companies as it helps foster growth and efficiency.

If you’re curious about outsourcing but have been wary about it in the past, the following debunked myths may help you see it in a new light.

Myth #1: It Makes You Lose Control of Your Business

Perhaps one of the biggest misconceptions about outsourcing is that it makes you lose control of your business. However, this is not the case. Depending on what you need to outsource — whether it’s payroll outsourcing or accounting — most companies uphold high standards to ensure that you are fully in control of your own business. Usually, outsourced individuals will only work on their assigned tasks or area and are not a threat to the running of your business. If you are still worried, though, draw up a set of guidelines when exchanging contracts with the outsourcing provider.

Myth #2: The Company Loses Privacy

Privacy is a big issue, but it needn’t be a worry if you develop the right relationship with your outsourcing provider. While many businesses will not want to share their financial information, it is in the interest of the provider to uphold the security of this data as they will be responsible for it. Their reputation rests on how they handle and manage data, and they are also bound to government data protection regulations.

Myth #3: Its Main Achievement is Cutting on Costs

Outsourcing is not just about cutting costs. While this is, of course, one of the primary benefits, outsourcing also provides additional talent, strategy, skills, and value to a business. Importantly, outsourcing also allows a business to focus on priority areas, rather than drain its energies on tasks such as HR and payroll.

Myth #4: It’s Only Available to Big Businesses

Outsourcing is not limited to the world of big business. Small businesses can benefit greatly from outsourcing through increased efficiency and productivity. Many outsourcing companies provide customized services for smaller businesses, especially, as it can cost much less to hire out services to freelancers.

Myth #5: Outsourcing is Inconvenient if Done Off-Shore

Many businesses believe that outsourcing to other countries will be inconvenient due to the time difference. However, these hours can be worked to your advantage if you learn to collaborate online and assign certain tasks and meetings for specific hours. Also, if a business employs a team in India and a team in the US, for example, the benefit is that productivity will be round the clock and result in faster delivery times.

Myth #6: It Results in Low Quality

Another big concern around outsourcing is that the quality will suffer. As long as you partner with a reputable company and establish good relationships, this shouldn’t be a factor. With proper planning, quality can actually increase with outsourcing. If you’re uncertain, get to know the company first and determine whether their standards are different to your own. Again, outsourcing providers have reputations to uphold, so it’s also not in their best interest to deliver poor quality on behalf of a client.

Outsourcing is becoming increasingly popular as businesses seek to expand and improve efficiency and productivity. If you’re considering this move, but are concerned about the outcome, bear the above information in mind and conduct thorough research into reputable outsourcing providers. Good luck!

Why Are Analytics Important for eCommerce?

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StrategyDriven Organisational Performance Measures Article |why are analytics important |Why Are Analytics Important for eCommerce?It’s easier than ever to start an eCommerce store. Just sign up for a hosting account, and your store will be ready in a few minutes. Unfortunately, it isn’t as easy to get customers.

You’re competing with at least 12 million other online stores on the internet. The good news is you can make use of website analytics to make better choices for your business.

The question is, why are analytics important for eCommerce websites? Keep reading to learn the answer to your question.

Uncover Your Traffic Sources

It isn’t too difficult to figure out where you’re getting traffic from if you only run advertising on one platform. It’s much more difficult if you’re getting search engine and social media traffic.

Analytics software will show you exactly where your traffic comes from. You’ll be able to gauge which websites are showing the best results from your efforts, so you know where to focus your energy.

Group Audience Segments

Not all customer demographics will respond to your products in the same way. People of different ages, sexes, and geographical locations will react differently to your content. Your tracking software can help you figure out which demographics take what action.

This data will help you optimize your website and advertising campaigns. When you create messaging specifically for different demographics, you can speak more to what they want in a product.

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Split-Test Pages

You should never be satisfied with your website design. There’s always a test you can do to improve your conversion rate. Unfortunately, this is hard to do without any kind of tracking software.

A heatmap is a tracking script that informs you of what actions your visitors take on individual pages. You can see where they look and where they hover their mouse. Use this information to test small changes to your website to figure out which versions produce the best results.

Track Ad Campaigns

It isn’t enough to get click-throughs on your ads. If you have no method to track what visitors do on your website, you won’t be able to figure out what marketing campaigns are successful.

ECommerce analytics software provides you the ability to set up goal pages. Set a dollar amount for these pages, and you’ll be able to figure out how much money your ad campaigns generate while your campaigns are live.

Learn What Visitors Search For

Your search bar isn’t only there to give your visitors an easy way to find items. It’s also there to help you understand the type of products your visitors are searching for.

Using a tool like Knowi will help you gain insight into the search trends on your website. You’ll be able to see reports detailing search terms and use them to figure out what popular items are and what trends are happening in your industry.

Why Are Analytics Important? Now You Know

Now that you can answer the question, “why are analytics important to online stores?” you’re ready to get started. Sign up for an analytics software package today so you can start tracking the people on your website. The more information you have, the better business decisions you’re going to make.

Do you want more tips for running an eCommerce store? Read our latest articles to discover our newest tips.