This overview on CSR improvement will give you an overview of how to improve your corporate responsibility practices. To do this, you’ll need to focus on four key areas: Measurability, Transparency, Collaboration, and Editability. By following these four points, you’ll be well on your way to CSR excellence. Moreover, you’ll understand how to measure, monitor, and evaluate your company’s progress.
Measurability
Measurability in CSR improvement is an essential issue for businesses today. CSR is a strategic practice that aims to hold organizations accountable for societal issues and their operations’ environmental impact. However, there are few measurable CSR outcomes or activities and even fewer governance measures. Yet, today, customers, employees, shareholders, and investors are demanding more focused action from companies. To meet these demands, companies must incorporate environmental and social responsibility criteria (ESG) into their core corporate strategies. This requires a rigorous governance framework, quantifiable targets, and measurable impact assessments.
Socially conscious businesses benefit external partners and investors. For example, public stock exchanges require companies to disclose their ESG (environmental, social, and governance) performance. This measurable reporting helps highlight a company’s ethical practices, risks, and opportunities. Measurability is a valuable strategy for improving CSR. It can be applied in any business sector and should be a central focus of CSR improvement.
Transparency
In today’s world, to improve customer relationships more consumers demand companies be more transparent about their business practices and how they treat their stakeholders. This is a positive trend that will continue. The growing number of transparency-conscious consumers is suitable for businesses and nonprofits because it builds trust and strengthens relationships. Transparency increases internal and external relationships while allowing stakeholders to make informed decisions. It also costs little to implement and can produce big rewards for your organization.
More transparent companies can also increase their profits. The number of S&P 500 companies publishing annual reports has risen from 20% to 72%, which is a significant increase in one year. Transparency in CSR can increase investor confidence, improve investment decisions, and create new market opportunities. Furthermore, if a company demonstrates its corporate social responsibility activities, it will create a virtuous cycle within the company.
Collaboration
Collaborating with other businesses can transform your business and help it improve its social impact. For example, collaboration can help eradicate hunger and promote access to preventive health care and education. Other benefits of partnerships include environmental protection, animal welfare, and climate action. For example, collaborations can help fund Olympic and Paralympic athletes or provide disaster relief to underserved populations. Regardless of the size of your company, it’s essential to focus on social and environmental issues when considering your collaboration strategies.
Collaboration with competitors and public sector bodies is another way to improve CSR. Companies are increasingly working with other companies in the same industry or sector and looking to collaborate with NGOs and other stakeholders to create positive change in the world. Collaboration between companies and nonprofits is one way to prove that you’re serious about social responsibility. Collaboration requires authenticity and the willingness to demonstrate results in real-time. Companies that live their values are building brands that people can trust.
Impact
If you are looking to measure the impact of your CSR improvement efforts, you need to consider the following:
A sense of purpose is essential for a company’s employees. Employees become more loyal and committed to the company by providing them with a sense of meaning. The impact of CSR on employee engagement is significant, and even small investments can bring substantial returns. For example, a Net Impact survey found that 72% of students said they want to work for a company that does good things. This can help employers attract and retain talented employees. They can attract and retain the best talent by increasing their CSR efforts.
Investing in CSR is more important than ever before. Younger investors are more likely to look into the impact of their investments. In addition, they are more interested in the social impact of their assets and the impact those investments have on society. For this reason, businesses that engage in destructive behavior may risk losing a significant share of their customer base. Therefore, increasing your company’s CSR initiatives is essential for business success. This article will introduce a systematic process for improving your CSR strategy.
https://www.strategydriven.com/wp-content/uploads/pexels-karolina-grabowska-4207909.jpeg19201280StrategyDrivenhttps://www.strategydriven.com/wp-content/uploads/SDELogo5-300x70-300x70.pngStrategyDriven2022-08-30 00:19:522022-08-30 00:19:52An Overview of CSR Improvement
People refer to the entrepreneurial mindset as something that is all things to all people. The most difficult thing about being an entrepreneur is about being a leader. There’s a variety of leadership styles, but one of the greatest is quite possibly the warrior mindset. The warrior mindset can help you in a variety of tricky situations either in your professional or personal life. So what does it really take to ensure that you embrace this warrior mindset in business?
Understand Your Perspective On Fear
Fear, in many ways, can be our best friend, as soon as we learn to understand it. Fear is a very natural response that stems from hundreds of thousands of years of ingrained physiological responses. When we feel stressed, our stress hormone cortisol spikes, and this gives us the ability to flee a situation. Fear is something that is purely an emotion. If we can learn to avoid the concept of fear paralyzing us, we are more likely going to be able to understand how to combat anything that comes our way.
Look at people in the military, they are up against threats every single day and they are the perfect example of someone who has, to an extent, had a deconditioned approach to fear. You only have to read blogs on dedicated websites like Tacticalbrute to see that there is a very specific approach to dealing with stressful situations because there is no time for fear. It’s important to be scared because it makes us realize we are human, but it’s far better to be active rather than let fear make us inactive.
Stop Listening to the Scaremongers
We are all prone to struggling to find solutions when we hear so much negativity. When we are feeling vulnerable, we have to remember that support is a vital asset but we’ve got to remember that when we are surrounding ourselves with those people who believe the sky’s falling at any moment, it can soon permeate into our subconscious. As trite as it sounds, you can develop your own version of a glass half full mentality.
When you start to feel like there is a solution to every problem, you’re not going to feel helpless and will invariably embrace a more fighting mindset which is self-inspirational and allows you to keep pushing forward. For every problem, there is a solution. But we have to remember that it is only a problem.
Circumstances Do Not Define Who You Are
Whether you are trying to lead a business or setting one up, hitting the wall is going to be a regular occurrence. Fearing these moments is not a valuable approach. Whatever setbacks you have, the circumstances will never define you. You can feel depressed because the business is not going as it should, but you should remember that depression is not you.
You are more than what the situation dictates. Life is always a combination of good and bad. Merely avoiding the badness is only going to delay the inevitable. Change your mindset, and you are going to deal with everything far better.
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Quite recently, the manufacturing business owners made clientele on phone calls, trade shows, or in-person meetings. Some will go fancy by getting ads printed, and there wasn’t much more effort than this.
But now, as times are changing, the manufacturing business industry also needs to keep up. Nowadays, manufacturers are utilizing all the digital marketing tools to increase their customer base. You cannot successfully run your manufacturing business based solely on customers’ brand loyalty. When there is rising competition, you must also maintain your competitive edge.
You need to attract more customers to rise to the top of your game. And there are many more innovative, interactive and better ways of attracting customers than in-person meetings or phone calls. Here are five ways you can get more customers for your manufacturing business.
1. Make a Website:
The first step is to make a company website. Almost no successful business running in today’s age lacks a website. It’s like your digital shop. You can hire a website builder, and your website will be up and running in a few hours. Ensure your website is neat, easy to navigate, and clearly tells about your business.
As the nature of products in the manufacturing business is complex, there needs to be a better explanation of the products to attract consumers. For example, if you make sealing products, give complete details about it on the website, add pictures and a 3D model of the sealing products, state the price, show how your business makes the best quality products, etc. Increase product knowledge to generate large orders.
List your contact information clearly. Incorporate email marketing, send people customized deals, make them sign up for your newsletter, etc. Ensure your website is SEO friendly and add a blog to educate people about your business. Also, don’t forget to make it easy to use on mobile phones. With these factors, your website will turn leads into customers.
2. Get Listed:
For your manufacturing business to get more buyers, it needs to be where buyers are searching for. There are a massive amount of consumers who search for products online. Your business must be there when potential customers are searching. To increase your reach, you must add your business information to local online business directories. The best thing is it’s usually free and will not cost you a dime while increasing your company’s reach.
When your company’s address, name, and contact information are available on business listing directory pages, you will observe more traffic on your website. You can get your business listed on platforms such as Google My Business, Facebook Business Page, Yelp For Business, etc. Customers search for companies through these platforms, and if your company is listed with up-to-date information, more people will come across it.
Make sure to be consistent across all directories regarding the information you have given about your products or services. You can also upload images and videos of your products there. Videos are searchable and transcribable on these platforms, making them the most popular channel for attracting buyers.
3. Make It Easy to Request a Quote:
On every page of your website, add the feature of ‘request a quote.’ And as your team will need information to create a comprehensive quote, you can ask customers to upload their information files. Make sure they can upload PDF, CAD, or any other file type for your reference. Don’t restrict it to a single file type option.
The design and placement of the call-to-action button of ‘request a quote’ and quote forms also require your attention. Place them on the right side of the website page and only ask for relevant information like name and email. Asking for information like company name and phone number etc. might be too much.
After a customer sends in a quote form, take them to a ‘thank you’ page to make them feel appreciated. Tell them when you will contact them with a quote. Also, on that ‘thank you’ page, you can link other important products or services too and place a call to action for users to visit those too. Send a confirmation email to the user that you have received their quote request and will get in touch with them soon.
Your job is not done here; make sure to add this new lead to your CRM or ERP system to start a funnel marketing campaign. Make your sales team follow up and log the activities of this lead for better-targeted ads.
4. Make Right Use of Social Media:
You can attract more customers through social media. Social media platforms are now becoming a hub for businesses. The use of social media is on the rise. A sizable amount of consumers use social media for online shopping. That’s why every kind of business is busy promoting their brand on social media. You should do that too by making business accounts on social media platforms like Meta, Instagram, Twitter, etc.
You should post relevant, updated, original insights about your manufacturing business there. Upload pictures and videos to engage people and inform them simultaneously. You can also promote your business posts through paid ads so that more and more people view them.
Using social media is not only about publishing posts about your products; it’s the best way to humanize your brand. This means you can upload things that happen behind the scenes, like how you ensure quality production, how many experts are a part of your team, how your brand or business inspires others, etc. But in all this, ensure not to post anything offensive and maintain professionalism.
5. Current Customers Attract New Customers:
Your current customers can become your biggest tool in making new customers. If you provide your current customers with the best products or services, and they are completely satisfied, then their positive feedback will be enough to convert leads into customers.
Make sure you add a customer’s feedback section on your website. Let the customers give testimonials, rate your business, and share their experiences with you. Positive reviews play a huge role in increasing the customer base. When potential customers see positive feedback, they are more likely to buy from you.
It’s better to make use of word of mouth. If you keep telling people how good your services or products are without customer feedback, not many people will believe it. But customers’ feedback changes everything.
Conclusion:
Gone are the days of placing calls to increase your customer base for your manufacturing business. Now, if you want your business to thrive, you have to make use of the latest ways of attracting customers. Go through these five tips to get more customers for your manufacturing business.
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Blockchain was supposed to make it easy for businesses and customers to make payments internationally, bypassing the traditional banking system. But that vision is yet to materialize. In the meantime, distributed ledger technology is proving invaluable in the realm of customer engagement. Incredibly, technology is making it easier for brands to connect with their audiences and encourage them to make purchases.
Getting organizations to change, even in the presence of compelling new technologies, is hard. When the internet came along in the mid-1990s, some major brands took ten years to begin exploiting it. And even then, their efforts were half-hearted.
We’re seeing the same phenomenon emerge today with blockchain. Everyone knows that it is a powerful technology, but employees struggle to adapt. They don’t want to do new things that could be difficult. They’d prefer to stick to the humdrum, regular mundane tasks they know.
With that said, blockchain is one of those technologies that firms can’t afford to miss. If they do, then it could mean missing out on better engagement with customers, and expanding in their industry.
Already, pioneers are exploring how to use blockchain to transform business infrastructure. Experts are looking at ways to leverage the new technology to transform how firms do business with each person. The hope is that blockchain will prove so valuable to firms that they use it for everyday transactions.
But how, exactly, could blockchain engage customers?
Smooth Peak EV Energy Demand
The electric vehicle revolution is going to be good for children’s lungs but seriously bad for the power grid. Consumer behavior means that most people charge their electric vehicles when they get home from work, between 5 pm and 7 pm. This means that there is a huge spike in demand around dinner time.
If EV usage continues to grow, existing power infrastructures won’t be able to meet demand. There will be rationing and blackouts around peak times – not what anyone wants.
However, there may be a blockchain-based solution. The idea is to reward consumers with individual tokens, called “sparks” whenever they charge their vehicles outside of peak times, such as in the middle of the night. Owners that do this could then trade their currency for real money, getting a discount on their energy bills.
Such systems are actually superior for energy grids compared to current setups. Energy consumption is notoriously low during the night, but power firms need to keep expensive energy-generation systems on continuously to prepare them for increased load in the morning. Charging EVs at night would result in far better use of energy-generating capital, lowering bills, and improving outcomes for all.
There are also virtual power plant capabilities. The idea here is to make it possible for EV owners to sell their power back to the grid in peak times when power plants need extra supply. If there’s a sudden surge in electricity usage in the morning or evening, suppliers could offer owners higher prices to sell their battery charge back to the grid, instead of relying on expensive booster plants and technologies.
Creating Currencies Around Shared Interests
We’re also witnessing the birth of another new (and somewhat strange) phenomenon that nobody could have predicted: the birth of so-called “fan tokens.” Major organizations from Formula 1 to e-sports teams are all signing up to increase enthusiast engagement globally.
For the uninitiated, fan tokens are a bit like cryptocurrencies, but offer punters a deeper level of interaction within a particular industry. Firms are exploring them fervently to see if they can use them to get consumers more interested in what they do.
As with other crypto technologies, fan tokens sit on the blockchain. However, they are not the same as Bitcoin or other currencies that use the technology. Like cryptocurrencies, they are fungible. But holding tokens provides other rewards, such as being able to vote on club decisions, access merchandise designs, and unique experiences, and earn rewards. You can think of owners as being similar to club stakeholders but without any formal rights other than those defined by the blockchain.
If you’re new to the concept, you can read tips for buying fan tokens here. This article explains what you need to do and what fan tokens are in more detail.
Ultimately, these tokens help to make fans feel more engaged in whatever organization issues the coin. Hence, if you have a business with a cult following, you could potentially use this method to give customers more say over products, services, and the direction your firm takes.
Improving The Payment Journey
Then there is the potential for firms to improve the payment journey. Current payment systems can make some customers feel disengaged, particularly those looking to make purchases from overseas. Customers can find it hard to access traditional banking facilities.
With cryptocurrency transactions on the blockchain, these sorts of barriers become a thing of the past. Merchants and individual consumers can transact with each other trustlessly, without the need for an intermediary, such as a bank. Companies and clients can liaise with ease and set whatever payment terms they like. There are virtually no limits on what they can do.
Perhaps even more promisingly, customers don’t even need to have a bank of their own. The network functions as security for all parties. Therefore, firms can sell to customers who are outside of the formal economy.
There are some crazy applications of app-enabled crypto payments, too. For instance, customers can use apps to trade with each other to get faster services.
Take a busy food court, for instance. In a traditional setup without blockchain, all customers have to wait their turn, regardless of how hungry they are or how much of a rush they are in. There is no simple way to pay other customers to jump the line.
But with blockchain, that’s no longer the case. The technology makes it easy to carry out complex transactions like this so that pricing mechanisms can more closely match each individual’s needs. Even if they seem gimmicky, such systems are likely to engage customers interested in trialing them.
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If you’re looking to expand your company into the international market or you’re looking for a new place to start a new one, then you may want to consider Ireland. It may seem like a strange suggestion at first, but there are plenty of reasons more and more people are considered starting their companies in Ireland.
It’s Easier To Start A Company
Ireland brought the Companies Act 2014 into effect that provides for a number of different company types and makes the Company formation Ireland and incorporation extremely easy. The Act covers everything from management and every day administration, to the winding down and dissolution process of a company. Because everything is laid out, it’s extremely easy to do and individual interests are still protected.
Low Corporation Tax
Ireland is considered to be a pro-business environment, and that’s why it has a low Corporation Tax. The Corporation Tax of Ireland is 12.5%, which is one of the lowest in the world. The company itself is liable for paying corporation tax from the company profits, while the directors themselves are only responsible for income tax. The reason for this separation is because the company is considered a legal entity itself. It is kept separate from the Officers and Directors, so when unpaid debts arise, only the company have legal action taken against it.
Tax Credits
Ireland is considered to be one of the easiest countries to do businesses in, as well as affordable. There are generous amounts of Research and Development tax credits that companies can apply for, employees can acquire shares in the company, and there is a low share capital requirement of about 100 Euros, so even the smallest businesses have a great start.
Greater Protection is Offered
When there is changes in the structure of a business, it may need to be reworked in order to maintain its status. However, in Ireland, the process is made quite simple. Any sudden changes are protected and companies are given something of a grave period to adjust to these changes.
Additional Benefits By Minimizing Corporation Tax
One of the best ways to decrease tax while running a company in Ireland is to maximize your benefits. This can be achieved in a number of ways. One way is to purchase capital equipment to be used in the business, as well as claiming capital allowances. A second way is to ensure that the company is making contributions to employees’ pensions so that they can retire well. Lastly, the maximum amount of expenses should be claimed (or as high as possible) under legislation. These are all great way to help your company grow while also retaining happy employees.
It’s not easy starting a business from the ground up and trying to make it grow. Not only is there legal tape in the way but it’s difficult to get people to take notice. But the air of Ireland promotes the growth of businesses by making it as easy as possible for anyone to hit the ground running and make their business thrive.
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Business Programs
An Overview of CSR Improvement
/in Corporate Cultures/by StrategyDrivenMeasurability
Measurability in CSR improvement is an essential issue for businesses today. CSR is a strategic practice that aims to hold organizations accountable for societal issues and their operations’ environmental impact. However, there are few measurable CSR outcomes or activities and even fewer governance measures. Yet, today, customers, employees, shareholders, and investors are demanding more focused action from companies. To meet these demands, companies must incorporate environmental and social responsibility criteria (ESG) into their core corporate strategies. This requires a rigorous governance framework, quantifiable targets, and measurable impact assessments.
Socially conscious businesses benefit external partners and investors. For example, public stock exchanges require companies to disclose their ESG (environmental, social, and governance) performance. This measurable reporting helps highlight a company’s ethical practices, risks, and opportunities. Measurability is a valuable strategy for improving CSR. It can be applied in any business sector and should be a central focus of CSR improvement.
Transparency
In today’s world, to improve customer relationships more consumers demand companies be more transparent about their business practices and how they treat their stakeholders. This is a positive trend that will continue. The growing number of transparency-conscious consumers is suitable for businesses and nonprofits because it builds trust and strengthens relationships. Transparency increases internal and external relationships while allowing stakeholders to make informed decisions. It also costs little to implement and can produce big rewards for your organization.
More transparent companies can also increase their profits. The number of S&P 500 companies publishing annual reports has risen from 20% to 72%, which is a significant increase in one year. Transparency in CSR can increase investor confidence, improve investment decisions, and create new market opportunities. Furthermore, if a company demonstrates its corporate social responsibility activities, it will create a virtuous cycle within the company.
Collaboration
Collaborating with other businesses can transform your business and help it improve its social impact. For example, collaboration can help eradicate hunger and promote access to preventive health care and education. Other benefits of partnerships include environmental protection, animal welfare, and climate action. For example, collaborations can help fund Olympic and Paralympic athletes or provide disaster relief to underserved populations. Regardless of the size of your company, it’s essential to focus on social and environmental issues when considering your collaboration strategies.
Collaboration with competitors and public sector bodies is another way to improve CSR. Companies are increasingly working with other companies in the same industry or sector and looking to collaborate with NGOs and other stakeholders to create positive change in the world. Collaboration between companies and nonprofits is one way to prove that you’re serious about social responsibility. Collaboration requires authenticity and the willingness to demonstrate results in real-time. Companies that live their values are building brands that people can trust.
Impact
If you are looking to measure the impact of your CSR improvement efforts, you need to consider the following:
A sense of purpose is essential for a company’s employees. Employees become more loyal and committed to the company by providing them with a sense of meaning. The impact of CSR on employee engagement is significant, and even small investments can bring substantial returns. For example, a Net Impact survey found that 72% of students said they want to work for a company that does good things. This can help employers attract and retain talented employees. They can attract and retain the best talent by increasing their CSR efforts.
Investing in CSR is more important than ever before. Younger investors are more likely to look into the impact of their investments. In addition, they are more interested in the social impact of their assets and the impact those investments have on society. For this reason, businesses that engage in destructive behavior may risk losing a significant share of their customer base. Therefore, increasing your company’s CSR initiatives is essential for business success. This article will introduce a systematic process for improving your CSR strategy.
3 Approaches To Start the Warrior Mindset Way of Thinking
/in Practices for Professionals/by StrategyDrivenUnderstand Your Perspective On Fear
Fear, in many ways, can be our best friend, as soon as we learn to understand it. Fear is a very natural response that stems from hundreds of thousands of years of ingrained physiological responses. When we feel stressed, our stress hormone cortisol spikes, and this gives us the ability to flee a situation. Fear is something that is purely an emotion. If we can learn to avoid the concept of fear paralyzing us, we are more likely going to be able to understand how to combat anything that comes our way.
Look at people in the military, they are up against threats every single day and they are the perfect example of someone who has, to an extent, had a deconditioned approach to fear. You only have to read blogs on dedicated websites like Tacticalbrute to see that there is a very specific approach to dealing with stressful situations because there is no time for fear. It’s important to be scared because it makes us realize we are human, but it’s far better to be active rather than let fear make us inactive.
Stop Listening to the Scaremongers
We are all prone to struggling to find solutions when we hear so much negativity. When we are feeling vulnerable, we have to remember that support is a vital asset but we’ve got to remember that when we are surrounding ourselves with those people who believe the sky’s falling at any moment, it can soon permeate into our subconscious. As trite as it sounds, you can develop your own version of a glass half full mentality.
When you start to feel like there is a solution to every problem, you’re not going to feel helpless and will invariably embrace a more fighting mindset which is self-inspirational and allows you to keep pushing forward. For every problem, there is a solution. But we have to remember that it is only a problem.
Circumstances Do Not Define Who You Are
Whether you are trying to lead a business or setting one up, hitting the wall is going to be a regular occurrence. Fearing these moments is not a valuable approach. Whatever setbacks you have, the circumstances will never define you. You can feel depressed because the business is not going as it should, but you should remember that depression is not you.
You are more than what the situation dictates. Life is always a combination of good and bad. Merely avoiding the badness is only going to delay the inevitable. Change your mindset, and you are going to deal with everything far better.
5 Ways to Get More Customers for Your Manufacturing Business
/in Online Marketing and Website Development/by StrategyDrivenBut now, as times are changing, the manufacturing business industry also needs to keep up. Nowadays, manufacturers are utilizing all the digital marketing tools to increase their customer base. You cannot successfully run your manufacturing business based solely on customers’ brand loyalty. When there is rising competition, you must also maintain your competitive edge.
You need to attract more customers to rise to the top of your game. And there are many more innovative, interactive and better ways of attracting customers than in-person meetings or phone calls. Here are five ways you can get more customers for your manufacturing business.
1. Make a Website:
The first step is to make a company website. Almost no successful business running in today’s age lacks a website. It’s like your digital shop. You can hire a website builder, and your website will be up and running in a few hours. Ensure your website is neat, easy to navigate, and clearly tells about your business.
As the nature of products in the manufacturing business is complex, there needs to be a better explanation of the products to attract consumers. For example, if you make sealing products, give complete details about it on the website, add pictures and a 3D model of the sealing products, state the price, show how your business makes the best quality products, etc. Increase product knowledge to generate large orders.
List your contact information clearly. Incorporate email marketing, send people customized deals, make them sign up for your newsletter, etc. Ensure your website is SEO friendly and add a blog to educate people about your business. Also, don’t forget to make it easy to use on mobile phones. With these factors, your website will turn leads into customers.
2. Get Listed:
For your manufacturing business to get more buyers, it needs to be where buyers are searching for. There are a massive amount of consumers who search for products online. Your business must be there when potential customers are searching. To increase your reach, you must add your business information to local online business directories. The best thing is it’s usually free and will not cost you a dime while increasing your company’s reach.
When your company’s address, name, and contact information are available on business listing directory pages, you will observe more traffic on your website. You can get your business listed on platforms such as Google My Business, Facebook Business Page, Yelp For Business, etc. Customers search for companies through these platforms, and if your company is listed with up-to-date information, more people will come across it.
Make sure to be consistent across all directories regarding the information you have given about your products or services. You can also upload images and videos of your products there. Videos are searchable and transcribable on these platforms, making them the most popular channel for attracting buyers.
3. Make It Easy to Request a Quote:
On every page of your website, add the feature of ‘request a quote.’ And as your team will need information to create a comprehensive quote, you can ask customers to upload their information files. Make sure they can upload PDF, CAD, or any other file type for your reference. Don’t restrict it to a single file type option.
The design and placement of the call-to-action button of ‘request a quote’ and quote forms also require your attention. Place them on the right side of the website page and only ask for relevant information like name and email. Asking for information like company name and phone number etc. might be too much.
After a customer sends in a quote form, take them to a ‘thank you’ page to make them feel appreciated. Tell them when you will contact them with a quote. Also, on that ‘thank you’ page, you can link other important products or services too and place a call to action for users to visit those too. Send a confirmation email to the user that you have received their quote request and will get in touch with them soon.
Your job is not done here; make sure to add this new lead to your CRM or ERP system to start a funnel marketing campaign. Make your sales team follow up and log the activities of this lead for better-targeted ads.
4. Make Right Use of Social Media:
You can attract more customers through social media. Social media platforms are now becoming a hub for businesses. The use of social media is on the rise. A sizable amount of consumers use social media for online shopping. That’s why every kind of business is busy promoting their brand on social media. You should do that too by making business accounts on social media platforms like Meta, Instagram, Twitter, etc.
You should post relevant, updated, original insights about your manufacturing business there. Upload pictures and videos to engage people and inform them simultaneously. You can also promote your business posts through paid ads so that more and more people view them.
Using social media is not only about publishing posts about your products; it’s the best way to humanize your brand. This means you can upload things that happen behind the scenes, like how you ensure quality production, how many experts are a part of your team, how your brand or business inspires others, etc. But in all this, ensure not to post anything offensive and maintain professionalism.
5. Current Customers Attract New Customers:
Your current customers can become your biggest tool in making new customers. If you provide your current customers with the best products or services, and they are completely satisfied, then their positive feedback will be enough to convert leads into customers.
Make sure you add a customer’s feedback section on your website. Let the customers give testimonials, rate your business, and share their experiences with you. Positive reviews play a huge role in increasing the customer base. When potential customers see positive feedback, they are more likely to buy from you.
It’s better to make use of word of mouth. If you keep telling people how good your services or products are without customer feedback, not many people will believe it. But customers’ feedback changes everything.
Conclusion:
Gone are the days of placing calls to increase your customer base for your manufacturing business. Now, if you want your business to thrive, you have to make use of the latest ways of attracting customers. Go through these five tips to get more customers for your manufacturing business.
Blockchain: The New Frontier In Customer Engagement
/in Customer Relationship Management/by StrategyDrivenGetting organizations to change, even in the presence of compelling new technologies, is hard. When the internet came along in the mid-1990s, some major brands took ten years to begin exploiting it. And even then, their efforts were half-hearted.
We’re seeing the same phenomenon emerge today with blockchain. Everyone knows that it is a powerful technology, but employees struggle to adapt. They don’t want to do new things that could be difficult. They’d prefer to stick to the humdrum, regular mundane tasks they know.
With that said, blockchain is one of those technologies that firms can’t afford to miss. If they do, then it could mean missing out on better engagement with customers, and expanding in their industry.
Already, pioneers are exploring how to use blockchain to transform business infrastructure. Experts are looking at ways to leverage the new technology to transform how firms do business with each person. The hope is that blockchain will prove so valuable to firms that they use it for everyday transactions.
But how, exactly, could blockchain engage customers?
Smooth Peak EV Energy Demand
The electric vehicle revolution is going to be good for children’s lungs but seriously bad for the power grid. Consumer behavior means that most people charge their electric vehicles when they get home from work, between 5 pm and 7 pm. This means that there is a huge spike in demand around dinner time.
If EV usage continues to grow, existing power infrastructures won’t be able to meet demand. There will be rationing and blackouts around peak times – not what anyone wants.
However, there may be a blockchain-based solution. The idea is to reward consumers with individual tokens, called “sparks” whenever they charge their vehicles outside of peak times, such as in the middle of the night. Owners that do this could then trade their currency for real money, getting a discount on their energy bills.
Such systems are actually superior for energy grids compared to current setups. Energy consumption is notoriously low during the night, but power firms need to keep expensive energy-generation systems on continuously to prepare them for increased load in the morning. Charging EVs at night would result in far better use of energy-generating capital, lowering bills, and improving outcomes for all.
There are also virtual power plant capabilities. The idea here is to make it possible for EV owners to sell their power back to the grid in peak times when power plants need extra supply. If there’s a sudden surge in electricity usage in the morning or evening, suppliers could offer owners higher prices to sell their battery charge back to the grid, instead of relying on expensive booster plants and technologies.
Creating Currencies Around Shared Interests
We’re also witnessing the birth of another new (and somewhat strange) phenomenon that nobody could have predicted: the birth of so-called “fan tokens.” Major organizations from Formula 1 to e-sports teams are all signing up to increase enthusiast engagement globally.
For the uninitiated, fan tokens are a bit like cryptocurrencies, but offer punters a deeper level of interaction within a particular industry. Firms are exploring them fervently to see if they can use them to get consumers more interested in what they do.
As with other crypto technologies, fan tokens sit on the blockchain. However, they are not the same as Bitcoin or other currencies that use the technology. Like cryptocurrencies, they are fungible. But holding tokens provides other rewards, such as being able to vote on club decisions, access merchandise designs, and unique experiences, and earn rewards. You can think of owners as being similar to club stakeholders but without any formal rights other than those defined by the blockchain.
If you’re new to the concept, you can read tips for buying fan tokens here. This article explains what you need to do and what fan tokens are in more detail.
Ultimately, these tokens help to make fans feel more engaged in whatever organization issues the coin. Hence, if you have a business with a cult following, you could potentially use this method to give customers more say over products, services, and the direction your firm takes.
Improving The Payment Journey
Then there is the potential for firms to improve the payment journey. Current payment systems can make some customers feel disengaged, particularly those looking to make purchases from overseas. Customers can find it hard to access traditional banking facilities.
With cryptocurrency transactions on the blockchain, these sorts of barriers become a thing of the past. Merchants and individual consumers can transact with each other trustlessly, without the need for an intermediary, such as a bank. Companies and clients can liaise with ease and set whatever payment terms they like. There are virtually no limits on what they can do.
Perhaps even more promisingly, customers don’t even need to have a bank of their own. The network functions as security for all parties. Therefore, firms can sell to customers who are outside of the formal economy.
There are some crazy applications of app-enabled crypto payments, too. For instance, customers can use apps to trade with each other to get faster services.
Take a busy food court, for instance. In a traditional setup without blockchain, all customers have to wait their turn, regardless of how hungry they are or how much of a rush they are in. There is no simple way to pay other customers to jump the line.
But with blockchain, that’s no longer the case. The technology makes it easy to carry out complex transactions like this so that pricing mechanisms can more closely match each individual’s needs. Even if they seem gimmicky, such systems are likely to engage customers interested in trialing them.
The Amazing Benefits of Forming a Company in Ireland
/in Starting Your Business/by StrategyDrivenIt’s Easier To Start A Company
Ireland brought the Companies Act 2014 into effect that provides for a number of different company types and makes the Company formation Ireland and incorporation extremely easy. The Act covers everything from management and every day administration, to the winding down and dissolution process of a company. Because everything is laid out, it’s extremely easy to do and individual interests are still protected.
Low Corporation Tax
Ireland is considered to be a pro-business environment, and that’s why it has a low Corporation Tax. The Corporation Tax of Ireland is 12.5%, which is one of the lowest in the world. The company itself is liable for paying corporation tax from the company profits, while the directors themselves are only responsible for income tax. The reason for this separation is because the company is considered a legal entity itself. It is kept separate from the Officers and Directors, so when unpaid debts arise, only the company have legal action taken against it.
Tax Credits
Ireland is considered to be one of the easiest countries to do businesses in, as well as affordable. There are generous amounts of Research and Development tax credits that companies can apply for, employees can acquire shares in the company, and there is a low share capital requirement of about 100 Euros, so even the smallest businesses have a great start.
Greater Protection is Offered
When there is changes in the structure of a business, it may need to be reworked in order to maintain its status. However, in Ireland, the process is made quite simple. Any sudden changes are protected and companies are given something of a grave period to adjust to these changes.
Additional Benefits By Minimizing Corporation Tax
One of the best ways to decrease tax while running a company in Ireland is to maximize your benefits. This can be achieved in a number of ways. One way is to purchase capital equipment to be used in the business, as well as claiming capital allowances. A second way is to ensure that the company is making contributions to employees’ pensions so that they can retire well. Lastly, the maximum amount of expenses should be claimed (or as high as possible) under legislation. These are all great way to help your company grow while also retaining happy employees.
It’s not easy starting a business from the ground up and trying to make it grow. Not only is there legal tape in the way but it’s difficult to get people to take notice. But the air of Ireland promotes the growth of businesses by making it as easy as possible for anyone to hit the ground running and make their business thrive.