Importance of Understanding Consumer Behavior

Article Editor on May 13, 2021

Understanding consumer behavior is the number one thing that determines the success or failure of a business. There are hundreds of factors included in customer behavior, and not all of them are pleasant to deal with. A corporation that does not comprehend the needs of its customers will be forced to change its ways which will eventually affect its bottom line. People like Helen Lee Schifter have been studying consumer behavior throughout their entire career.

A business must always remain current with the latest information it could ever need. This way, they can provide better services to their customers while they stay competitive. The only way to get ahead is to provide better products or at least the same quality service as their competitors. A company must understand how to make their customers happy and stay in touch with them.

It is also vital that a company understands who its customers are. This is because people often shape customer behavior they see and talk to daily. Good marketers know how to listen to their customers and get to know their likes and dislikes. They will take the time to listen and learn what makes their customers tick and what is important to them.

A good marketer will never neglect their customers, no matter how difficult things seem to be at present. The business will make it a point to go beyond their customers by giving them more freebies or discounts. By doing this, it will become easier for them to retain loyal clients. It is also essential to reward excellent customer service because doing so will encourage more repeat business in the future.

Understanding customer behavior is also significant when dealing with customers who are brand new. Business owners can achieve this by having a marketing plan that will incorporate friendly, non-intrusive advertising techniques. A good marketing plan will enable a company to reach out to these new customers. The better they understand customer behavior and the benefits they get from doing business with a particular company, the more likely it will be to continue doing business with them. There is always going to be some form of conflict between customers. A good marketing strategy will help them learn how to handle disputes to never turn into harmful situations.

Customer service in itself is critical. While customers may appreciate the gesture, they will not necessarily expect to receive any form of response. If a marketer offers them a discount or free product but does not follow through on it, they will view it as a form of favoritism. It is also important to remind customers that they can always choose not to engage with a particular company at any time.

Entrepreneurs can find the importance of Understanding Consumer Behavior in a company’s success in the overall marketplace. Consumers make buying decisions based on the information they receive. They have short attention spans and are highly motivated by impulse. A marketer needs to understand these short attention spans and how companies can use them to their advantage. This type of intelligent buying behavior is what gets businesses ahead of competitors. Understanding how consumers think makes it possible for a company to take advantage of this buying pattern and create an edge over its competition.

The best companies have a well-organized marketing strategy. They understand how important it is to focus on consumer behavior and to set the proper expectations. The more organized the marketing system is, the easier it is for a business to meet customers’ unique needs and desires. These are the aspects of marketing that a company must consider if it wants to succeed in today’s market. Helen Lee Schifter understands a businesses’ need to understand consumer behaviors.

Sustainability in Business

Article Editor on May 12, 2021

Shalom Lamm, the New York Real Estate Mogul and CEO of Operation Benjamin, the non-profit organization that locates Jewish Soldiers buried in American military ceremonies throughout the world and gets them identified with their correct Jewish Heritage believes in sustainability in business.

As Lamm has said many times, running a business of any kind, including a non-profit is like running a marathon. If you go flat all out. you will soon falter and give up the ghost long before hitting the finish line.

According to Harvard Business school, there are two main issues that sustainability addresses:

  • The effect the business organization has on the environment.
  • The effect the business organization has on the overall society.

Harvard suggests that a company at least concentrate on one of the two goals, although naturally, to place attention on both are ideal.

According to professor Knut Haanaes of IMD Business School Lausanne, Switzerland, nearly 62 percent of executives consider sustainability to be a necessary strategy to be competitive today, and another 22 percent consider it to be of vital importance in the future.

Professor Haanes says that expectations about corporate sustainability have never been higher.

Where in the past corporations could get away with pretty much operating however they wanted in foreign countries such as Bangladesh, the Philippines, China, and Indonesia for example, nowadays with such countries fully cognizant of how water pollution and factory waste are affecting the overall health of the country, the cat is sort of out of the bag so to speak.

No longer can factories and businesses act as if there were two separate worlds, the corporate headquarters, shiny and bright in the United States, or Western Companies like Germany, and their dirty, polluting, low-wage factories overseas.

However, as Professor Haanes has said, while most executives of companies consider sustainability to be important, a significant share, upwards of 75 percent, do not really have sustainability as an inclusive part of their business model. However, plenty of people are noticing.

First, the countries are noticing. Social activists throughout the world have pointed out, in particular, the low wages in factories and the often brutal 12 to 14 hour per day, 6 days a week work conditions.

Meanwhile, governments are increasingly putting on pressure for Western factories to eliminate waste and pollution in their lands.

Finally, consumers, even in the West, are strong believers in sustainability. Studies show that consumers are willing to pay as much as 5 percent more, for environmentally friendly products, and are 37 percent more likely to go out of their way to purchase products that are environmentally friendly. It may take another two decades or so before the full sustainability in business impact makes sustainability a norm, but the days of reckoning are coming.

Shalom Lamm is confident in the idea that business execs in the near future will often be hired for their ability to meld their business plans with the ability to have less effect on the environment and to bring up the wages of those in less developed countries.

Dealing with Layoffs

Article Editor on May 5, 2021

When one is laid off from their job, one will notice that their paycheck is smaller than usual. This is a tough time for most people, but it is essential not to let go of hope because layoffs will eventually end, and their coworkers will be back in the workplace. Even when the economy seems like it is on the decline, industries that emerge more substantial than the economy because of the number of people getting laid off, their circumstances, and how one reacts to the layoff will make or break one during this time.

When managers remain objective, they can make tough choices that will result in a better outcome for the company and each employee. Managers must take an objective view of the company’s current situation, including its future. To do this, the manager needs to focus on performance over the long term, including profitability and short-term indicators, such as short-term and long-term customer satisfaction. To do this, the manager needs to devote time to understanding the factors that impact performance, identifying which actions produce the best results and identifying methods to make those actions happen more quickly and efficiently. Only by addressing these issues and making decisions based on data and performance can the company make real progress toward its goals.”

When dealing with layoff situations, Diego Ruiz Duran reminds people that they need to understand that the human reaction to any given layoff is likely to vary among employees. There will also be some who will benefit psychologically from the layoff, while others will take it as a personal hit, regardless of the company’s position. Layoffs can make employees feel as if they do not matter, as if their work is not important, or as if they are being forced out, regardless of the company’s position. The best managers know how to deal with this confusion and keep employees motivated through communication.”

As soon as one is aware of layoff notices, one should determine if anyone has been affected by them. One wants to know the scope of their job duties and the length of time working with the firm. If one knows the layoff affects many employees, speak with them to see if they wish to talk with their HR department about the layoff. Often, remaining employees are eager to let the company know they are experiencing a layoff and keen to seek a new position elsewhere since they know that they will not stay with the same employer for exceptionally long if they do not.

One should ask employees what it was like before the layoff occurred and see what their thoughts on the matter are. Many employees who have never experienced a layoff before are likely to focus primarily on the changes within their jobs and how that has affected their resilience. They might reflect that they were challenging to work with before and struggled to meet goals set before they arrived at the company. These employees might also share with one story of the boss, who gave them specific instructions that were difficult to follow, but that made their job much easier overall. Reflecting on how these employees handled difficult situations before will give one insight into their resilience, which one can use to help other employees who may be undergoing a layoff.

Diego Ruiz Duran believes that one of the challenges of dealing with layoffs is that many businesses do not want to be the first to make this information public. If one runs an industry where there are many employees, one may find that it is necessary to consult with management before releasing any information to the rest of the organization. This gives one time to ensure that their plan is appropriate for the type of layoff taking place and giving one time to prepare and respond to any questions employees might have regarding the new policy.

In most cases, when an employer decides to make a staff change, it is because they have decided it is the best option for the business in the future. However, some companies are willing to cut down on expenses by offering employees stock options or signing them for employee assistance programs. Employment assistance programs can help employers save on unemployment benefits and medical benefits and help employees see that their lives are not in danger because of the layoff. There is no question that both initiatives are essential. However, it is more critical for businesses to be careful about how they handle severance packages and how they handle the process of outplacement services.

Best Airlines to Fly

Article Editor on April 28, 2021

Travelling and flying have become a fundamental element of our modern-day life. Some numerous airlines and airports facilitate and make these trips a reality. Some airlines can cause your air travel an exciting experience or otherwise make it a nightmare. Travelers such as Helen Lee Schifter, who enjoy traveling, regularly emphasize an airline’s reputation and customer ratings. Arriving at one destination in pleasure rather than in pain is the core mandate of these airlines. Airlines provide facilitation and other amenities that ensure customers’ journey is memorable, and in return, the customers offer excellent ratings. Various airlines are operating in the United States, and the following are the best airlines to travel with based on customer satisfaction and overall ratings.

1. Delta Air Lines

If you happen to take a random survey and present a questionnaire to air travelers trying to find their opinion on the best airline in the United States, one of the airlines that will feature proudly is Delta Airlines. Delta Airline gets ranked among the best United states carriers due to several reasons centered around customer service.

First, Delta Airline gets some of the highest customer rankings due to its on-time arrival and departure schedule. On average, the airline receives a rating of 83 percent. Delta Airlines has maintained a reputable record since the year 2019, where its flights arrive within 15 minutes of the estimated arrival time. It translates to fewer delays, something frequent travelers like Helen Lee Schifter find convenient. On the other hand, Delta airline comes with one of the most extensive routes covering almost every city in the united states. It provides reliability and trust among travelers. Alternatively, Delta Airline comes with one it’s kind flyer programs that is robust and perfect for its customers. Its lounges spread across all the airports they operate are state-of-the-art. With Delta Airlines, customers are guaranteed confirmability and world-class entertainment with its executive back seats equipped with TVs.

2. JetBlue Airline

JetBlue Airline is yet another highly-rated American-based airline due to its excellent customer service. JetBlue offers an awesome economy cabin and expansive legroom than most of its competitors in the air travel business. Consequently, JetBlue offers one of the perfect dining experiences while onboard as its passengers enjoy frequent free drinks and snacks. At the same time, the airline has in all its carriers fitted with fast Wi-Fi connectivity. Such extras have seen the customer ratings for this airline skyrocket expeditiously.

Another critical parameter that passengers use to rate their traveling experience with an airline is its infotainment system. JetBlue comes with one of the advanced infotainment systems. Every seat on any JetBlue carrier comes fitted with a seat back touch screen TV, Spotify, an extensive library of movies, and a SiriusXM radio. The customers traveling onboard JetBlue had an easy time full of entertainment throughout their flight. Lastly, the airline provides some of the best meals and menus to its passengers from a host of chefs and experts making cuisines worldwide. Travelers have an opportunity to taste some of the best foods prepared by French chefs who operate as a team on this airline.

Money-Saving Tips for Your Business

Helper on April 27, 2021

In order to save money, a business has only two options: to trim expenses or increase profits.

1. Common Business Expenses

Business expenses are necessary costs that need to incur for the business to operate. Not all expenses a company incurs are tax-deductible. Expenses that you can deduct are those that the IRS considers to be both “ordinary and necessary”.

Some expenses also need to be capitalized which is usually an expensive asset that a business invests in to generate revenue, but is also one that will depreciate over a number of years like a piece of equipment. Correctly identifying and classifying expenses allows a business to assess their profits accurately.

Here are some common business expenses that may be partially or fully tax-deductible.

If you operate your small business from home, you may be eligible to deduct partial expenses from your rent, mortgage interest, property taxes, business phone line (if separate from home line), security system and maintenance costs.

We can also classify expenses as:

Although you cannot deduct personal expenses, you can deduct the business part if the expense is used for both personal and business reasons.

2. Ways To Increase Your Business Profits

For a business to continue operating in the future, it needs to be profitable. Here are a few ways you can improve your profitability.

Increase the price of your offerings

If you have a loyal customer base whose trust you earned with the quality of your offerings, they shouldn’t mind if you increase your prices every once in a while.

Achieve greater efficiency

Cutting steps in operations or reengineering them altogether can make them more efficient. The goal is to eliminate tasks that don’t add value to the final product or your bottom line.

Look for ways to improve your offering

Consumers like companies who listen and go the extra mile. A constantly evolving offering will help you shorten your sales cycle, strengthen brand loyalty, and perhaps, even allow you to increase pricing. Don’t allow your product to get outdated. Make the buying process easier and simple.

Feed your winners; starve your losers.

The Growth-Share matrix states that your efforts need to be directed at your profitable customers so you can ‘milk’ the cash cows to feed your stars and R&D efforts that should become cash cows in the future. Cutting your efforts on losers (dogs) will save you valuable resources that you can use to reward your most profitable customers.

3. Simply Money-Saving Tips for Your Business

Saving money is always easier said than done but by no means is it impossible.

Think of ways to reduce your basic costs

When setting up your utilities look for a provider with a competitive rate like Gas South.

Go green

Going green saves green. The more energy-efficient your space is, the lower utility costs you’re going to have. Moreover, green investments could make you eligible for tax credits and deductions, further benefiting your bottom line.

Embrace technology

Software makes bookkeeping, accounting and presentations a breeze.

Cut down on everything you can

The rule of thumb is: when in doubt, go without. You can apply it to any purchase as well as unnecessary meetings. Just do a rough calculation based on the number of people and their average hourly salary, and you’ll be surprised how much money you throw away.

Negotiate

With so many price comparison websites, it’s so easy to ensure you are getting the best value for your money. Negotiate with suppliers and always ask for discounts.

Takeaway – Saving money as a small business can be tricky, especially if you are just starting. However, it’s more about the mindset than actual figures. Remember, every action counts and helps your business on its way to better financial health.

5 Ways To Make Loyal Customers

Web admin on April 15, 2021

If there’s one thing better than happy customers, it’s loyal customers. Loyal customers are what keeps your company generating revenue and attracting new customers to your business. So what is it that makes customers loyal? 

Take a look at some of the best tips for increasing customer loyalty and ultimately driving your sales. 

Put Your Customer First 

A customer-driven business focuses on making customer service a top priority. Most consumers agree that’s they deserve good customer service anywhere that they’re a customer. If they feel that they are poorly treated, it won’t be very long until they find a competitor who treats them better. Some of the best ways to put your customer first are thanking them for their business, getting back to them when they have inquiries, and being friendly. 

Send Personalized Content 

If you’re still trying to lump all of your customers into one type of consumer, then you’re doing it all wrong. Mass marketing doesn’t work anymore. Your customers need a personalized and targeted approach that makes them feel like you’re talking directly to them. Sending out personalized content that includes their personal preferences and information is the best way to get their attention and make them feel like you’re listening. 

Personalized content can be anything from sending out a happy birthday message with a coupon code to congratulating them on a new business venture. The more you know about your customers, the better that you can personalize your approach. 

Loyalty Programs 

If there’s one thing that people love, it’s a good deal. Most customers claim that they are loyal to their favorite companies because they offer rewards for being loyal. Rewards programs aren’t just standard at this point— they’re expected! People are more inclined to keep buying from you if they know that they’re racking up enough points for a good deal later on. 

If a customer has the choice between two competing businesses, usually they opt for the one that has the loyalty program!

Automate When Possible 

Depending on the size of your company, manually trying to keep up with every customer is pretty much impossible. Automation is the best way to make sure that nothing falls between the cracks. Technology does the heavy lifting for you so that you don’t have to worry about setting reminders for yourself.   

From marketing to follow-up emails, automation is the best way to ensure that you optimize your workflow. 

Strive To Be The Best 

At the end of the day, the best way to create loyal customers is to give them a product or service that they can’t get anywhere else. Strive to be the best you can be at whatever you do, and you can’t really go wrong!

Importance of Maintaining Professional Relationships

Article Editor on April 8, 2021

Having any type of business is something to be proud of because it definitely does not come easy. Owning a business takes a lot of time, money and effort. Maintaining a business is also very difficult because it also requires the business owner to keep up that money, money and effort as well. It also requires the business owner to keep and maintain professional relationships with customers, clients and potential business partners.

Shalom Lamm has always stated that it is crucial to keep and maintain professional business relationships with customers, potential business partners and with clients. Maintaining professional relationships with them will definitely help the business in the long run. Here are some reasons why it is very important to maintain and keep those professional relationships in a business setting:

1.) To start, maintaining professional relationships can be a great way for the business in general to be known for having respect. A business needs to have respect in order for clients and potential business owners to be able to trust the business in general. A business needs to be trustworthy in order to ensure that the clients needs are met and to ensure that they will become clients who come back to this business.

2.) Maintaining professional relationships requires a good amount of communication. The communication is needed in order for the business owner to really get to know their potential business partners and potential clients. A business cannot thrive or succeed without any potential business partners or clients. In order to really get to know the clients, it is important to have good communication skills with them. A good way to maintain good communication with clients is by reaching out to them, getting to know a little bit more of their personal life and finding ways to help them outside of the business setting as well. This can definitely create a professional relationship between the business owner and the client.

3.) In order to keep professional relationships, the business owner needs to be aware that they need to welcome diversity and that they need to be very mindful of how they do this as well. There are many minorities all over the world. The majority of these minorities feel attacked, discriminated and overall out of place. This is why it is very important that business owners are really mindful of ways that they try to incorporate every single client in their business. The more mindful and the more that they welcome diversity in their business, the higher the chance that they will be able to maintain a professional relationship with their clients in the long run.

The following tips and tricks that Shalom Lamm thinks will help ensure that the business exceeds for many many years and will also help ensure that the clients and potential business partners are satisfied with the relationship they have built together.

How to Handle Rejection

Article Editor on April 7, 2021

Being told “no” disrupts expectations, and leaves anyone to deal with a degree of rejection. Diego Ruiz Duran has developed effective self-help procedures for intelligent and sensitive men and women to improve their chances to overcome rejection. This article is motivation for people with obstacles. This article is also for people with resilience, the ability to carry on. Continue reading to progress and share this article.

Where Rejection Can Appear

Rejection intrudes in various avenues: professional, interpersonal, and personal. Rejection can feel like disappointment and awkwardness, ultimately it is uncomfortable and disheartening. In all instances, one’s goals are an uphill battle to do the right thing. Those opportunities are fleeting, so take a moment to feel those emotions. Expectations contain baggage, and like all baggage it has a destination. seeking new opportunities is proactive, and prepares anyone for the right environment.

Letting Go

Give time to overlook all options. The weight of rejection holds back a reality filled with opportunity, so let go. The process of emotions is natural and can be dealt with. Holding negative emotions is bad for stress. Managing stress can be difficult, and there are ways and people that make it simple to get back to normalcy.

Spend Time with a Support System

Be it family, friends, or an organization, coping is healthy to decompress and refuel positivity. Having a good outlook helps overcome rejection. Familiarity is a desired baseline, and the best place to resolve hardship. Even professional advice is a good approach to finding a personalized method to solving difficulty.

Maintenance

Avoid negative talk, people, and situations. Dwelling on the “why” takes up valuable time and mental space when moving forward is the goal. Even morning talks to the self in the mirror is a good practice that reinforces positivity. This habit is a major key to successful behavior. Remove difficult situations that can be controlled. Chaos is no place for growth. Not everything can be in control, like someone else’s rejection, and knowing the difference can provide peace of mind.

Success

Validation is what drives every major milestone in careers and relationships. It is nice to see hard work being acknowledged after hours of preparation and execution. Everything in the past is practice for the present. Ultimately it is nice to allow euphoria to manifest from diligent work. Congratulate good moments. Confronting fear and uncertainty breeds self-discovery. Self-reflection is a certain sign of growth. And finally assert resiliency to others. Inspire others to get over their rejections to facilitate a healthy environment.

Conclusion

Rejection is a learning experience, and nothing to dwell in. Diego Ruiz Duran assures this is all a part of the journey to success. Continue to apply to high-skill jobs and land the interview. Aim high. Be confident in the lessons to reflect a new work ethic. Celebrate relationships and personal goals. Newfound preparation, exercise, and stress inoculation will continue to be challenged, and repetition will build a good lifelong reputation.

Providing Security For Your Brick And Mortar Business

Web admin on April 7, 2021

Living in a digital age, it’s easy to turn your mind towards the cyber security steps your business needs to stay safe.  However, running a brick and mortar business creates a different sort of safety situation.  

Running a retail store presents a different set of security needs.  A more tangible approach to safety must be taken.  If you’re looking for ways to secure your brick and mortar establishment, take some time for research.  

Here is a brief compilation of a few ways you can take action to provide a safe and secure store location for yourself, your employees, and the customers.  

Nuts and bolts security

The physical security of your store is vital to the long term success of your operation, and there are plenty of ways to get the job done.  High tech deadbolt locks and high quality shutter doors are your first line of defense against after hour intruders.  

Window locking systems and high tech security glass can also be helpful when setting up security for your shop.  Making your building hard to get into is a great way to deter trouble.  

Signage can help 

You may doubt the power of a sign, but security signage is a simple and effective way to help deter a possible crime from being committed.  A big sign stating the property is under surveillance is not comforting for someone looking to do damage.  

Other sign statements that work well are “Protected By Video Camera Systems” and “You May Be Under surveillance.”  Letting unwanted visitors know that your establishment is serious about protecting the property can be very effective.  

Surveillance camera systems 

Not all businesses have the need or ability to stay open 24 hours a day, so you’ll need security in place for the times when there is no staff around.  Installing security cameras can really help you sleep more sound at night.  

When you have the ability to look in on your store at any time, you can appease any anxieties that plague you.  You can also attach your surveillance systems to 24 hour security services that will send authorities to your store if there’s ever an alarm triggered.  

Proper lighting as a deterrent

Providing proper lighting in the right places inside and outside of your business can work wonders for securing the store.  In your parking lot, you should have ample lighting, so there’s no room for crime under the cover of darkness.  

On the inside of your establishment, there should be lights on at all times.  Leaving a few lights on inside of your store when you leave for the day could help to avoid any trouble in the future.  

Hire live security guards

Not all places are best served by live security guards, but it is a viable and useful option for securing your brick and mortar business.  Hiring a trustworthy security company to protect your premises will assure that no trouble goes unnoticed.

5 Different Types Of Air Dryers And How Your Business May Benefit From Them

Web admin on April 5, 2021

If you operate a clean room or another type of facility that has compressed air, you may likely benefit from an air dryer.  It all starts with knowing how they work. Compressed air is dangerous because it contains moisture which at the correct temperature can condense into an extremely harmful liquid that will easily contaminate your equipment and products or even lead to frozen pipes or other serious and costly issues. 

There are several different types of compressed air dryers out there that can help you and prevent you from ever having to deal with issues, but sometimes the variety can get overwhelming. Here are five types of air dryers that you may be able to benefit from.

Desiccant Dryers 

Desiccant dryers work best for extremely low temperatures. If your business is located in a place where it gets very cold, or you have to keep your facility cold to best produce your products, this may be a suitable type of air dryer for you.

Refrigerated Dryers 

Refrigerated dryers are probably the most common type, but this doesn’t mean they are the best option for all facilities. They are very reasonably priced, which is a big plus, but they don’t operate well at all under extreme conditions and, in fact, can sometimes make situations worse if the temperatures are too low. Just be aware of that before choosing this type of dryer. 

Membrane Dryers 

Membrane dryers are becoming increasingly popular because they require zero electricity and also operate much more quietly than most other dryers. They are more expensive, though, so if you are trying to keep costs down, you may want to be careful. 

Deliquescent Dryers 

Also, electricity-free, deliquescent dryers are extremely economical. Of course, this comes with a price, however. But just think about all of the money you’ll save on electric bills and the good karma that will come from reducing your footprint, and you may go with one of these.

Gas And Liquid Dryers 

For facilities that deal with dangerous or very exotic liquids and gases, drying is of utmost importance. Luckily they make specialty gas and liquid dryers for exactly these types of businesses. If you work with such gases as hydrogen, butane, landfill gas, or anything of the sort, it is a smart choice to invest in one of these types of dryers in order to safely remove the toxic moisture from the air. 

Once you decide which type of air dryer is best for your specific facility, you will not only be able to provide a safe and healthy working environment for yourself and your employees, but you will also have peace of mind that your products will be well protected.