Murphy’s Law states that anything that can go wrong, will go wrong. Crises are always around the corner, whether or not you and your business are prepared to handle them. You may never escape the possibility of things going south, but you can develop a crisis management plan that can help reduce, if not eliminate, their devastating aftermath. [Read more…] about The Benefits of Crisis Management in Your Marketing Strategy
Organizations of all sizes struggle to retain top talent and improve performance of those at all skill levels. A mentoring program is one way to deal with both of these issues. Internal mentoring programs have a number of benefits for employees throughout their careers, though the greatest benefits are for new hires. Here are three reasons your business needs an internal mentoring program.[Read more…] about 3 Reasons Your Business Needs an Internal Mentoring Program
Gregory Fishman, the president, and chief executive officer of Resolvly, started his career at the age of 19. He was first employed at a chemical manufacturing company as the national director of sales. Gregory was later promoted one year after working at National Interchem to become its vice president. He worked at the company for close to three decades, and he spent his final eight years at National Interchem as its president after buying it from Art Saltz who was the original owner. However, Gregory Fishman later sold National Interchem and moved with his three kids to Florida.
Finding the most efficient web tools and services for online entrepreneurs require us to invest serious hours of researching. This means less time to invest in our projects and for our customers.
Any web tool or service you are looking for, there are hundreds or even thousands of similar solutions. How do you know which one to choose? In 2019 all companies have great looking websites and know how to sell you their web tools and services. Itâ€™s very hard to differentiate these solutions, all seem to do the same but there are lots of important differences between them. Testing them can cost you money if free trials are not available and for sure you have to spend good hours playing with each solution.[Read more…] about Web Tools and Services that will Help Any Online Entrepreneur
Digital courses grow more and more common online. They are a great way for people to bypass expensive traditional educational methods, and gain expertise in new fields. Entrepreneurial online courses have also proven lucrative for the experts producing them. As a potential entrepreneur in the education industry, you might wonder what steps you need to take to sell your idea for a course. Once you have your learning concepts ready, there are many actions to getting your course available for sale on the internet. These steps below will show you how to sell your own digital course online.
Proper forex strategies are one of the critical elements that a successful trader must have. This is because they create an appropriate guideline of how the trader will handle the market situations and changes. However, coming up with them is not the end as you will still need to test and analyze them. This write up will give you proper guidelines of how you can effectively test them.
There are two main backtesting methods: the manual method and the automated method. Whichever method you decide to you use to test your strategies, the process should help you to analyze all the situations which arise.
Manual backtesting is done by manually scrolling a bar to bar with the forward arrow of your keyboard. The method can be quite arduous and timely. It is also prone to human mistakes and errors. For instance, it can be quite hard to find out the specific currency pairs which generated lower price points by looking at a piece of paper.
Manual testing involves four main steps:
Step 1: open the currency pairs chart which you want to test. After that, scroll on to the previous chart. In most online trading platforms, you can opt to drag and drop then change the date of the chart. You should also make sure that the trading indicators, as well as the other trading tools, go in hand with the strategy you have applied.
Step 2: spot any trade setups in your charts by scrolling and looking at them, one by one
Step 3: since you have probably found a trade set up by now, write down the trend results that you observe. You can do this by using an excel spreadsheet where you record all your observations.
Step 4: repeat the same process several times and come up with clear results.
As earlier mentioned, you can find the manual backtesting quite tedious especially if you are going through a tremendous amount of data. However, don’t be afraid. Press on because its results will help you to pinpoint the essential things before you apply the strategies in real trading.
Here, the trader uses an automatic program which opens and closes the trades on their behalf. Some of the programs which you can use for the automated testing include the Expert Advisors who are usually based on special algorithms.
The process of backtesting while using this method is straightforward, this is because you simply need to set the programs and then observe the results late. The only drawback of automated testing is that it might be quite costly to get the software. Also, the system does not allow you to get trading experience since it does everything. It is, however, the best option if you don’t have enough time to do the manual backtesting.
The importance of backtesting your forex strategies
The main importance in practice – backtesting helps you to practice how you will apply them in the live market, whether the markets are opened or closed. It also screens your skills so that you can always meet your market criteria, especially if you have many strategies. Practice also boosts your confidence so that you can use them in the live markets without fear.
Backtesting also helps you to:
- To see how the system would perform earlier enough before you start the CFD trading
- It provides a rough idea of the system’s metrics, as well as the average loss and wins size
- Through the backtesting, we can discount the synergies when which performs poorly.
Closing thoughtsDon’t take anything lightly when developing a system. From coming up with the strategies to writing them down to testing them, everything should be taken seriously and done in an orderly manner. Avoid complicated strategies as they may confuse you more in the backtesting stage. Start with a simple strategy and check if they align well with the current market environment. If
Getting into forex takes a lot of hard work and studying before ever jumping into the real game. There are charts to study, styles to ascertain and journals to keep. You can practice with a dummy account and learn the ropes. As exciting as it can be, there is a lot of work that has gone on behind the scenes before the first trade was ever made. But the truth is that even after youâ€™ve done everything possible to guarantee success, there is no failproof method that I know of that will keep your trades safe. Here are some of the potential pitfalls you can watch out for. [Read more…] about What Are the Risks of Forex Trading?
Ending a marriage is never an easy decision to make. The mental, emotional, and financial damage that it leaves spouses and their children can take many years to heal. One of the messier aspects of separation involves dividing the family assets between separating spouses. Regardless of whether exes end a marriage amicably or not, getting the help of a family attorney is strongly recommended especially if they share a business together. [Read more…] about The Impacts of Divorce on a Family Business
Running a business comes with a host of responsibilities and challenges. Whether you are the CEO of a huge corporation or the owner of a small business, you know how important it is to keep operations running smoothly and protect yourself from liability while doing so. The best protection against liability is being informed and cautious of certain risks, but even the most careful business owner cannot completely eradicate liability. Business insurance fills the gaps and ensures that you will not be derailed if a risk comes to fruition. There are several kinds of business insurance you should know about.
The following are perhaps the four most important types of insurance for a business, so familiarizing yourself with them is the first step to finding the right policy for your company. Consider your company’s needs carefully and take the time to find the Baltimore business insurance policies that are right for you. Insurance is an investment, and you should be confident in your choice.
You might think that property insurance is only a necessity if you own the space that you use for business. On the contrary, whether you lease or own, you should have insurance protecting you from the many liabilities of working on a given property. A good business property insurance will cover any potential damage that is done to the property as well as the value of the furniture, stock, equipment and tools that are housed in the building. Without this coverage, you could be liable for costly damages, and the expenses add up quickly.
Workers’ Comp Insurance
Many business owners consider their line of work to be minimally risky and do not consider the possibility that employees could, in fact, be injured on the job. If you manage an office, for example, you might disregard the potential for injuries such as carpal tunnel. In reality, there is potential for injury in every industry, which is why companies need to invest in worker’s compensation insurance. Workers’ comp claims can be expensive for employers, but you can mitigate the potential cost of such a situation by finding a policy to cover your liability in the event of a claim.
Professional Liability Insurance
Professional liability insurance is also called errors and omissions coverage. It typically protects a business from the liability of general mistakes and failure to perform at an established standard. This is a very generalized form of insurance that is typically tailored to the specific industry and type of business you manage. It is intended to protect businesses from the expense of a negligence claim or civil suit brought by a client. It is one of the most important kinds of Baltimore business insurance your company can invest in, and it can save you from the expense of an unhappy client.
Business Interruption Insurance
It is every business owners’ worst nightmare to have disaster strike and find yourself unable to sustain operations. Disaster may come in the form of an extreme weather event or some other incident that interrupts the normal flow of business. In such cases, this form of insurance protects you from the loss of income that would result. In addition to covering lost income, this type of policy will typically cover the expenses associated with recovering from the incident, too. Needless to say, it is an important policy to have on your side if disaster were to strike.
Your business is important, and you do not want to see it derailed by the expenses of various liabilities. In addition to general carefulness, investing in a robust insurance policy is the best way to keep your company safe from the financial risks of doing business.
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So despite some marketer predictions, email marketing still trumps.
And will continue to for many years.
Besides, it is the only current medium to tie all lead generation tactics together.
Why email marketing still trumps (on conditionâ€¦)
Even after 23 years from itâ€™s inception, email marketing remains the number #1 lead generation method. Smart Insights states that, â€œemail receives 30 times return on investment on averageâ€.
Email may still achieve results after 23 years, but outdated email marketing tactics will not; competition is too fierce and people already suffer from information overload.
For example, the average office worker receives 121 emails every day, and many of those remain unopened or trashed. Bearing this in mind, to be effective, your email strategy needs careful planning to:
- Get people to even open them
- Keep people engaged enough to read the content of the email
- Make sure they remember why they put their trust in you in the first place
- Keep them opening and reading your emails every time they are received
Having said that email marketing remains the best lead generation tactic in 2018, it is only effective with a well thought out strategy that leads readers through the sales funnel to purchase.
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The prospect comes into the email marketing system from the awareness stage of the sales funnel. The email marketing strategy has to gently push him through to the stage of action.
Itâ€™s important to understand that:
- It takes on average between one and three months to close a sale, so your email marketing strategy needs to cater to that.
54% of marketers say that their number one priority is to keep people on their email list engaged, which shows that itâ€™s easier to get people on your email list, but difficult to keep them engaged with your email content.
The effectiveness of email marketing is dependent on an effective strategy.
Most profound email marketing trends in 2018
This was thrown in because although itâ€™s not a trend per se, if you want people to open your emails in 2018, the subject header needs to earn its keep.
People check their email about 20 times a day, so thatâ€™s no problem. The problem is getting your content read, and the only thing stopping it is the subject header.
Neglect this and your email is headed for the trash.
Cold emailing campaigns have an overall response rate of 15.22% and 28.46%, so are considered a good lead generation method, depending on industry.
When cold emails are personalized with data enrichment (i.e. emails include snippets beyond the most basic ones like â€œfirst nameâ€ or â€œcompanyâ€), response rate can increase by 10%, as Woodpecker found.
If your emails are not optimized for mobile, 80% of readers will delete them. In addition, 63% of people are willing to act and make a purchase via mobile, but it has to be easy to do so. (Source)
Buckle found a 146% increase in email campaign conversion after switching to mobile responsive email designs.
Make sure the email template you are using is optimized for mobile, and that the page URL where users are directed to from emails, is also mobile optimized.
When companies first started email marketing in the 90â€™s, people were still fairly fascinated by email.
And so you would think that email response rates would have been higher then.
However, the average response rate in the 1990â€™s was actually less than the average response rate in 2018, so it could be assumed that due to low competition and traditional sales techniques, the content of sales and marketing emails provided relatively low value and included messages that were purely sales-focused.
Today, marketers have a greater understanding of the value of content and their emails reflect this.
But since 54% of email marketers report that engagement is a key concern for them, the majority may still need to ramp up the value of their content.
Knowing your audience intimately is vital to understanding their needs and therefore the kind of content you should be providing by email to warm up prospects and build trust.
Take this into account when preparing your email marketing strategy.
When you narrow your focus and send emails that are relevant for the right people, youâ€™ll see an increase in response rate.
Zapier describes list segmentation as, â€œPersonalization is the purpose of list segmentation: you slice your email list into segments based on what you know about each userâ€”like their buying habits, familiarity with your company, and professional backgroundâ€”then you send each segment of people personalized information.â€
Mailchimp conducted a study of more than 2000 of their users, and found that segmented campaigns achieved a 14.1% increase in response rate, and a 100.95% higher click rate.
Although some marketers have predicted that email marketing will die, itâ€™s still very much alive.
However, for email marketing to be effective in 2018, it has to be carefully strategized and based on user needs and desires. To this effect, these 5 elements are of utmost importance:
- Catchy subject headers
- Emails should be personalized with data enrichment
- Emails must be optimized for mobile
- Email content must provide value
- Email lists should be segmented into groups