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Reasons Digital Transformation is Vital for Business Growth

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StrategyDriven Managing Your Business Article |Digital transformation|Reasons Digital Transformation is Vital for Business GrowthThe world has been in the digital age for a significant period now, but some companies have been quicker to adapt than others. If your company is currently still languishing behind the rest, it may well be the time to have a rethink, as there are plenty of pros involved in a full digital transformation. Here, let’s look a bit closer at what some of these happen to be.

People Expect Instant Responses and Quick Service

We certainly live in a world in which more and more people are expecting to get instant responses and a rapid level of service. Otherwise, there are all sorts of other competitors that they could easily look to go to. Therefore, if your company is starting to show signs of age and you do not have key features, such as a live chat function, it may well be the time to change all of this. Some of your competitors could easily start to get the edge over you if you are not all that careful.

Employees Need Modern Tools

Not only should you be providing the right tools for your customers, but you should also be keeping a close eye on what your employees are needing at the same time. By ensuring that they have access to modern equipment, they are likely to be able to do their jobs in an even more effective manner than they were possibly able to otherwise. Certain key business processes may well have been done manually previously, but can benefit from a digital revolution.


Ensure Security is Taken Extremely Seriously

There is the sense that there is a lot to be gained from making sure that the IT Security situation at your company is entirely kept up to date. Otherwise, there is every chance that you can end up in a situation in which hackers make your company their next target. If you are stuck using outdated systems, and you are not evolving with all the modern threats out there, it could well be the case that you are going to end up being a victim without realizing it. This could end up setting your business back or even derailing it entirely in the more serious of situations.

Strengthen Other Business Partnerships

It could also be the case that there are other business partnerships that require strengthening, which could prove to be a major issue if you are still relying on tech that simply does not fit the bill. Ultimately, businesses are all about companies and individuals working in harmony with one another, and this is exactly what digital transformation should be able to bring along with it.

So, if you have been holding back on unleashing digital transformation at your business, these are just a few of the main reasons why it may be time to give this a rethink and ensure that you are entering the modern world properly. Modernizing your business like this could be the key to future success.

6 Reasons To Prioritize The Physical And Mental Health Of Employees

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StrategyDriven Managing Your People Article |Employee Health|6 Reasons To Prioritize The Physical And Mental Health Of EmployeesAs the saying goes, ‘you can’t be a healthy company with a broken workforce’. But, what does that really mean?

You might think it means investing in your employees’ physical health by providing an onsite gym or nurturing their mental health, or reducing work-related stress with access to confidential counseling.

Whether you are an established business or a burgeoning start-up, however, it is just as important to create a positive working culture where employees feel valued and respected. This starts with communication. Not only do employees need to know what their role is and be told how well they are doing it, but they also need encouragement and ongoing opportunities for career growth and development.

People thrive when they feel a sense of ownership over their work and can see where they can grow into new roles within the company. Here are five valid reasons to prioritize both the physical and mental health of all your employees.

1. Recognize that a healthy workforce is happier and more productive

The number one reason to prioritize the physical and mental health of employees goes without saying – a healthy workforce (both physically and mentally) is a happier and more productive one. Yet, although this may seem like an obvious theory, there are scientific studies to back it up!

A healthy body and mind can lead to increased energy levels, improved decision-making and better relationships with colleagues. When businesses value and embrace a more holistic approach to their employee’s health is an important step that can benefit their overall business success.

Holistic health also means that employees will be less likely to take sick days or call in sick because of illness or stress. Employee benefits that can help keep your workforce happy and healthy, include:

  • Universal healthcare packages
  • Dental insurance
  • Parental leave
  • Counseling and support
  • Gym memberships
  • Cycle-to-work schemes

2. Create a culture where employees feel valued and respected

If you want to create a workplace where employees feel valued and respected, you’ll need to start by promoting a culture of respect and inclusion. This means providing a safe and inclusive workplace environment that doesn’t tolerate any harassment or discrimination.

It also means providing your team with clear communication about company values, goals, processes and procedures so everyone is on the same page about what’s expected from them. The more transparent you are as an employer, the more comfortable your employees will feel taking initiative in their work – and that leads to better productivity overall.

Offer regular feedback opportunities for all members of your team so they can understand how they’re doing individually (and if there are issues). And, don’t forget about recognizing their achievements: small gestures like bonuses or gift vouchers for a spa day, or giving out ‘employee-of-the-month’ awards can help to reinforce a caring company culture on a daily basis.

3. Promote wellbeing and strong lines of communication

In addition to promoting wellbeing and communicating how to instill it, ensure that your employees are clear about the importance of communication. Good communication is key to building relationships with one another and helping everyone succeed in their roles. The more you can nurture open lines of communication, the better equipped you’ll be to support your staff when they need it most.

Make sure your employees feel comfortable communicating any private physical issues and personal mental health issues. There are recommended healthcare checks for over 50-year olds and, rather than putting these check-ups off, it is far better to create a culture where staff feel comfortable keeping important appointments. And, even if you offer a great parental package, pregnant women might still need to attend baby scans or unscheduled dental check-ups before they take maternity leave. The same hormonal changes that trigger morning sickness during pregnancy can also lead to sensitive teeth.

Encouraging every member of staff who has a valid reason for needing extra time off is a small gesture that goes a long way, and is appreciated by everyone.


4. Identify and prevent early signs of burnout

It is important to recognize the early signs of burnout in the workplace so you can help prevent it. When employees are experiencing burnout they may feel hopeless, depressed, irritable and more. So, you can see why they might not be productive at work if they are burned out!

Here are some early signs of burnout:

  • Low motivation. If you feel like your work doesn’t matter or that you’re not learning anything new, it may be time to reevaluate your job.
  • Feelings of hopelessness and ineffectiveness. This can include having trouble making decisions at work or feeling overwhelmed by everything that needs to be done (or even by simple tasks).
  • Difficulty sleeping and being tired during the day. If you struggle with both falling asleep and staying asleep, it may be a sign that you’re experiencing burnout symptoms.

5. Encourage best-performance within the workplace

As the leader of your company and a human being with a conscience, you should be deeply concerned about your employees’ physical and mental health. As both a leader and an individual with a conscience, you have a responsibility to take action on behalf of your team members in order to ensure that they are able to perform their jobs at their highest levels.

There are many ways this can be done – we recommend offering company-wide perks that benefit both physical health and mental wellbeing. A few examples include:

  • On-site fitness facilities for all employees
  • Regular mindfulness training sessions in the office or at home (via video conference)
  • Adhoc days off for important appointments such as dental appointments
  • Meal delivery service from local restaurants (or meals prepared by higher-ups).

6. Value employees to increase engagement, long-term staff retention and company profitability

As a business owner, you know that your employees are the backbone of your company. They are the ones who ensure that your products get made and get shipped out on time. They’re the ones who keep customers happy, answer questions and process orders when they come in. In short, they help make sure that everything runs smoothly in your workplace.

While it can be tempting to cut corners when it comes to employee health and wellbeing, it’s a good idea to prioritize them instead because doing so will:

  • Increase employee engagement, long-term staff retention and company profitability. When employees feel valued by their employer – and not just as workers but as people – they are happier in their jobs and more productive overall.
  • Boost morale across all levels of your organization by prioritizing healthcare initiatives that benefit everyone from executives down to every level of staff members.
  • Enable creativity among employees through programs like flexible schedules or telecommuting opportunities that allow workers flexibility with their schedule while also reducing stressors associated with commuting (like sitting in traffic) or needing constant supervision at home.

It’s clear that improving employee wellbeing is good for your business and the people who work for you. It makes sense to put resources into creating a healthier environment and encouraging healthy habits because this will benefit everyone involved – including yourself!

An Overview of CSR Improvement

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StrategyDriven Corporate Cultures Article | An Overview of CSR ImprovementThis 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.

5 Ways to Get More Customers for Your Manufacturing Business

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StrategyDriven Online Marketing and Website Development Article |Manufacturing Business|5 Ways to Get More Customers for Your Manufacturing BusinessQuite 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.

Blockchain: The New Frontier In Customer Engagement

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StrategyDriven Customer Relationship Management Article |Customer Engagement |Blockchain: The New Frontier In Customer EngagementBlockchain 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.