Effective Ways to Get Customers Renew Their Subscriptions

Gaining brand new, paying customers is always a nice feeling. However, it costs five times as much to reel in new customers than it does to retain existing ones. By that statistic alone, any organization should focus on keeping their current clientele around.

Various industries have various ways of making this work, but a common method for ensuring repeat business is a subscription. So, how can you encourage your subscribers to stick around? Check out these effective ways to get customers to renew their subscriptions.

Make Your Offerings and Pricing Flexible

One of the main reasons consumers ditch subscription services is that they’re paying too much for aspects they don’t use. By making your services flexible, you can allow customers to select only the aspects of your service that they need.

In doing so, you’re also bringing down the cost of the subscription. Take an internet safety app, like malware protection, for instance. Some customers only need coverage for one device while others would prefer more. Some might prefer real-time protection while browsing the web, others might only want regular checkups.

Making your subscription flexible allows customers to choose the features they want while saving cost on the ones they don’t. This simple method is an ideal way to keep your customers around despite their changing needs. If you’re unsure of how to split up your services in the most appealing way, a high-quality customer value management tool can help you identify what your consumers want most.

Automatic Renewals

People love the ability to “set it and forget it,” making automatic renewals a tempting offer. You can sweeten the deal by offering a slight discount on your services when someone signs up. Cricket Wireless, for instance, knocks $5 off a user’s monthly phone bill when they sign up for digital automatic renewals.

You can also keep your customers on their automatic selection with the same method. Should they decide to switch to manual, offer a steeper discount if they stay on the automatic option. While it might not seem like much, renewal rates for automatic subscribers is four times higher on average than manual.

Notifications and Grace Periods

Customers like to be kept in the loop, which makes renewal notifications ideal. A simple reminder that their credit card is about to be charged for your service is all it takes. Otherwise, you run the risk of your service being a surprise drain on their account and a soon-to-be ditched subscription.

For those manually renewing, an email is your chance to lure them over to automatic renewals with discounts. For those whose subscriptions have expired, offer a tempting win-back discount they can’t ignore.

Speaking of lapsed subscriptions, it’s worthwhile to offer a grace period in which a user can update their payment information, make any changes to the items in their account, and back up any data they may need. During the grace period, levy no penalties and provide them full access to their account.

Make Things Simple

Finally, make sure the features of your service and the renewal process are as simple as possible. You might be surprised at how many businesses experience high churn rates due to minor difficulties in their subscription process. Performing A/B tests with the entire process will guarantee your consumers can easily navigate your system and stick around for a long time to come. 

3 Tips For Helping Consumers On Their Digital Journey

Before the Internet, people had to interact with their customers face-to-face and on their own terrain. But not, your customers don’t even have to speak to anyone within your organization before they decide to do business with you. However, if you don’t have any type of contact before consumers are ready to make a purchasing decision, there’s a good chance that their business might go to someone else.

To help you increase the chances of them working with you, here are three tips for helping consumers on their digital journey

Create Helpful Content

The first step on a consumer’s journey is to gather information about what their problem is and what possible solutions are out there for them. Knowing this, you should try your best to create helpful content that gives them the information they’re searching for.

According to Dummies.com, it’s wise to both create content that will be helpful for your audience as well as placing that content in an area where they are likely to see it. But to do this, you have to already have a great understanding of your customers. If you don’t have this, you can’t expect to be able to create content that will be helpful for them in the first place. So before you start creating videos or writing blogs that you mean to be informational, make sure you know exactly what content should be included and what will resonate best with your target demographic. 

Be Active On Social Media

For many businesses, one of the best places to reach potential customers is through social media. Depending on what your product or service is and what type of people you’re trying to sell to, the actual social media platforms that you’ll want to use will vary. However, your strategy for using each social media platform will basically be the same.

Ideally, Patricia Maranga, a contributor to Social Media Examiner, shares that you as a business will want to be as active as you can be on each chosen social platform by using the platform the same way your target audience does. This will increase your chances of being seen and remembered.  

Make It Easy To Make Decisions

Once your audience is ready to make a purchasing decision to be the solution to their problem, you want your product or service to be the most obvious choice for them. But to get to this point, you’ll want to make this decision to be as easy as possible. 

To do this, Patrick Spenner and Karen Freeman, contributors to the Harvard Business Review, recommend that you make it easy for consumers to get to your product pages and then navigate through the purchasing process in as few clicks or pages as you can manage. The more streamlined the process is with limited distractions, the more likely you are to get a conversion. 

If you’re wanting your business to be more helpful to consumers on their digital purchase journey, consider using the tips mentioned above to help you do this.

L’Oréal is Leading the Beauty Industry in Going Green

L’Oréal is going green. The beauty products giant is making “Green Sciences” the center of its planning for research and development as it builds its brand as a safe, transparent, and eco-friendly business.

L’Oréal products currently use raw inputs that are 34% of natural origin, 59% renewable, and 80% biodegradable. In establishing its new Research & Innovation the company has announced that by 2030 95% of ingredients will be derived from renewable plant sources, abundant minerals, or renewable processes. All of L’Oreal’s products will be ocean-friendly, respectful of the marine environment, doing no harm to the diversity of deep ocean, coastal, or freshwater ecosystems.

Says L’Oréal Deputy Chief Executive Officer Nicolas Hieronimus, “With Green Sciences we are entering a new chapter for L’Oréal Research & Innovation, which has been a key driving force behind the company since its creation. Our ambition is that by 2030 we will be able to offer women and men around the world increasingly effective, safe cosmetics that respect the environment. The company has also renewed its commitment to reducing emissions, water, and use of water, and to become carbon-positive, sequestering more carbon dioxide from the atmosphere than it releases into the atmosphere.

L’Oréal said the rapid shift toward new renewable alternatives to ingredients based on petroleum-derived chemicals is unfolding at a time that preserving the planet is paramount and the COVID pandemic is pumping demand for products proven beneficial to maintaining health and unquestionably environmentally safe.

With this new commitment to Green Sciences, Calvert Research & Management now ranks beauty specialist L’Oréal seventh among the world’s 1000 most eco-friendly companies. This ranking puts L’Oréal on a list with the most environmentally sensitive companies in the world, a list including consumer goods behemoth Unilever, footwear manufacturer Puma, consumer brands like Vaseline and Hellman’s, and hotelier Accor. Deputy Chief Executive Officer Nicolas Hieronimus describes the Green Sciences initiative as a new chapter in the company’s long pursuit of technological innovations that improve life for ordinary people, begun 112 years ago.

Developing Professional Relationships (Quick Tips and Advice)

Shalom Lamm is informed about the workings of professional relationships. The professional relationship will involve interactions and defined boundaries. The boundaries are established and they are often viewed as limits which are relevant in a healthy work environment. The following ingredients are incorporated within a professional relationship:

  • Respect for each other
  • Fully aware of self and character
  • Trust
  • Team playing and inclusion

There are various types of professional relationships which may be defined by a work culture which often involves a set of guidelines which all professionals abide by.

Professionals are required to interact with a broad range of individuals with different personalities. Often a professional will set boundaries for themselves in terms of separating personal issues with professional business conduct.

Building Strong Bonds: Clear Communication and Courteous Conduct

Professional relationships may take time and effort if strong bonds are the desired outcome. Relationships, in the professional role, require clear communication skills and courteous conduct with others. A professional relationship cannot be built without some core communications skills included. There are some very good strategies that can be put into place in order to build powerful professional relationships. The following tips and guidelines are part of a good strategy for building professional relationships:

1. Respond to feedback effectively

Ongoing growth and grand improvements will happen when professionals learn how to effectively respond to offered feedback.

This can and should be done in a positive tone. Constructive feedback is always beneficial to everyone involved. Deep and meaningful rapports emerge when professionals respond to each other through valid feedback.

Negative feedback can be taken with a grain of salt. Every professional and an organization will enhance the entire culture when all feedback is acknowledged effectively and without becoming defensive

2. Added Empathy

Professional relationships must include empathy as opposed to ongoing competition. The professional relationships ought to incorporate honest sharing of authentic selves and must incorporate good listening skills and acknowledgement of others. Empathy can be viewed as having an understanding of people and this requires embracing diversity

3. Less Critics and More Encouragers

Developing professional relationships is going to eliminate ongoing criticism of others and add more encouragement. Celebrating achievements rather than placing an emphasis on perceived inadequacies will build trust and create harmonious environments

4. Ask others what they think about a Situation

include others by requesting their opinions on subjects. This is viewed as networking and bouncing ideas off each other. Develop real conversations which allow for free flowing conversations. This will make others feel valued

5. Add small genuine touches

a cup of coffee and conversation can be a good way to become better acquainted with others. Put it on a meeting schedule to meet over a relaxing cup of coffee. Added thoughtful touches create relaxing professional relationships.

Keep in mind, developing professional relationships is going to take time and perseverance. Relationships don’t develop overnight. Valid professional relationships will develop over time when the trust has been established. Professional relationships flourish when communication is good and when people take the time to get to know one another.

4 Reasons Your Online Store is Failing and How to Fix This

Over the past few years, ecommerce has become an integral part of any sound business strategy. The trend continues to gain momentum with online sales expected to account for a huge 17.5 percent of all retail sales worldwide by the end of 2021.

Whether you’ve recently set up your online store or you’ve been a player in this new field for some time, you already know that there are a number of challenges to overcome. It can feel like, despite your best efforts, you just aren’t getting the sales and attention you deserve.

That’s why we’ve put together a diagnostic list of 4 reasons your online store may be failing and how to address them.

1) Your Digital Presence is Weak

A huge part of any successful online business is exposure and credibility. If you run your business through your website only, you’re missing out on thousands of potential leads.

Through social media bios like this one, you can market your product to the correct userbase. Start with all the usual suspects, such as Facebook, Twitter and Instagram. Along with generating leads, it will give you the opportunity to interact with buyers and solicit feedback.

2) You Don’t Have A Marketing Plan

With so many drag and drop features and easy to use websites like Shopify, it can be tempting to think of your online business as a ‘set-and-forget’ situation.

No matter how good the shopping interface is, you need a marketing plan. At the very least, you need to be able to monitor important trends, such as how long users spend on your site and which items end up stuck in the virtual cart. You can do this using analytics tools (many available for free), such as Google Analytics

3) Your Prices Are Too High

A common mistake is to mark product prices up too high. With fierce competition, your product needs to be unique and coveted to command an exorbitant price.

Monitor your competitors to determine a reasonable price point. If you got your item from Aliexpress, for example, do not mark it up by 500%. Prospective customers will know with a simple Google search and lose faith in your business.

Additionally, using analytics discussed above, you can identify which products users abandon in their shopping cart, as ill advised pricing (or high shipping costs) are likely stopping customers from completing the purchase.

4) No Unique Selling Point

In an oversaturated market, you need to set yourself apart. That means determining your unique selling point. Your product does not have to be unique, but your delivery does.

For example, if you’re re-selling jewellery from a wholesaler, set yourself apart from competitors by taking your own product photos to add legitimacy. Also consider adding a hand-written note to each order to endear customers and make your business more memorable.

Running an online business will always be challenging, but by observing the above, you will almost immediately see your sales start to raise.

Importance of Growing Network Connections

Diego Ruiz Duran has committed fully to his career and has made quite the name for himself as a Criminal Defense Lawyer. Fighting for controversial people is a big challenge and studying how to best protect people is quite important. Mr. Duran networked with Jose Luis Nassar.

That network connection alone propelled him to start his own firm which was his lifelong dream. This alone is a powerful example of why having a strong network and advisory group can be the difference in having life success or not.

Improving the Network

By being a professor and instructor in Mexico City regarding law he is able to further improve his network. Duran has become an amazing expert in both criminal law and constitutional law. He is truly an inspiration. In effectively managing his network and career Mr. Duran has had to be quite effective in boundary setting and picking and choosing which clients are effective for him to work with.

To maintain high profile cases he has to be somewhat selective. This can be career killing for a young lawyer but he successfully pulled it off and launched his career to great heights.

He has maintained worldwide recognition but he has always been very careful to maintain his clients privacy in all cases. He knows how to maintain truth and is headstrong about doing the best for his clients, especially because the media can quite often present un-true and unfavorable stories.

Strengthening the Network

He continues to keep his network strong through his teaching and is able to always connect with young new lawyers and learn about the pressing issues from today. Duran graduated with top scores from Escuela Libre de Derecho and his strong support system really helped him create a top firm.

He firmly believes that Mexico has a very complex delivery of justice there. Criminal justice is quite messy and people should be allowed to accuse and use the accusatory system but he believes that the accused deserves the right to a fair trial and to have the best chance of a fair defense.

Stay Human

It is very important to keep the Human element and understand that humans are not perfect. He has also made quite the reputation for helping reduce gender based valance which is quite a big problem in Mexico and across the world at large.

This is such a deep rooted world problem, and we need strong advocates and lawyers helping make the world a bit safer one case at a time. He is known to be the best of the best for this.

Growing your network can help either launch a career, or take your career to the next level. It is important to always look for mentorship and help just like he did, and also look for ways to give back to the youth coming after you just like Duran does through his teaching.

The Importance of Using Safety Barriers (Tips & Advice)

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In every construction site, safety is the number one priority. The law requires that you uphold safety measures to protect the workers and the public too. For these reasons, barriers have become a necessity.

There are many types of barriers, materials and designs. Some offer specific solutions, while others are for various purposes. Here are the uses and the importance of having safety barriers, not only in construction sites but also anywhere applicable.

Road construction

The making of roads is a labour-intensive process and involves heavy equipment. Digging and blasting earth and rocks pose a potential danger to the construction crew and the drivers using diversions. Concrete barriers come in handy to guide traffic away from the area under construction.

In particular, concrete jersey barriers meet the standards to provide safety in high-risk environments. They are used to create alternative routes and define where drivers and pedestrians can safely find their way. Concrete jersey barriers are strong enough not to allow any penetration even in the event of an accident.

Perimeter protection

For commercial spaces, it is necessary to divide the outdoor spaces strategically. Apart from improving functionality, barriers at www.jpconcrete.co.uk also help protect public space and utilities located around access roads. Barriers help to define parking spaces and limit uncontrolled access. Concrete barriers help create a strong perimeter wall capable of withstanding forceful access by heavy-duty vehicles.

Durable security solutions

Safety and security are expensive yet needed for every property. However, the materials you use can determine how much you will need to spend on maintenance. Materials such as wood and plastic are ideal for short-term use. However, they are affected by extreme weather conditions, forcing you to spend much time and money on maintenance.

Concrete barriers are resistant to weather, insects, and sudden impact. Even with the weight, they are easily portable, and installation is quick. Buying concrete jersey barriers is viable as they last for decades, and can be used in different areas.

Noise control

As part of safety, controlling noise that comes from big equipment in construction is necessary. You can place concrete barriers of greater height to surround the noise pollution areas. This strategy is to use them as sound absorbers, reducing the effect by a considerable measure, and alleviating ambient noise.

Reducing visibility

Privacy is another aspect of safety in construction sites, commercial and residential areas. Privacy creates a comfortable working environment. Interlocking safety barriers help to eliminate open spaces that can encourage spying. In return, equipment and other valuable items are secure from potential theft.

Lastly, an unoccupied property welcomes potential misuse if not well secured. Companies need viable solutions to protect vacant buildings and land from fly-tipping, vandalism, and damage. Cost is also a concern for many.

However, there are affordable terms that make acquiring safety barriers easy. You will choose between hiring and buying. Whichever you choose, it is always advisable to secure an area early rather than to wait to take action once you witness a security breach.

Fastest Growing Hubs in Mexico

Mexico is growing vastly through its economic activities. It is located in the southern portion of North America and receives most of its remittances from the US. The city has an appealing culture to many individuals because of its diverse nature. Many Americans move to Mexico because of the food, clothing, and entrepreneurial benefits. It has a large growing economy with leading exports of machinery, electrical and transport equipment. Other than this, Mexico has a variety of exports like petroleum that make their economy grow exponentially with time. Cities like Guadalajara in Mexico major in manufacturing technology; making it a growing tech hub in the production of IT (Information Technology). Besides, the world is growing to a more technological era and many companies like Toshiba, HP, and Intel have set-up in the city.

Guadalajara is referred to as the Silicon Valley of Mexico because of its technological development. Similarly, the tech hub ought to be Diego Ruiz Duran‘s favorite fast growing industry. This is because of the increase in software development that promotes social media platforms. He is among the best ranking lawyers known for defending his clients. Through his experience and success, he considers social media to be an important part of his career as a criminal defense lawyer. 

His professional work stays private, but he uses the social media platform to source clients. As much as online presence matters to the technological growing world, he is always sensitive to what his clients choose to share on the media. This is because people all over can make such a big fuss out of a simple commentary that can ruin a case. Individuals should limit their online presence especially during a trial. The media platform is accessible to anyone with a device capable to access the internet. This makes it easy for a person to publish information that may not necessarily be true about another individual to ruin their self-image.

Apart from protecting his clients from cyberbullying, the technological development in the area aids his reach to more research data regarding his professional work. He is capable of branding himself to reach high-profile clients that benefit his career development. Other than that, he researches his competition to see what they are doing to guarantee their achievements. Diego Ruiz Duran is dedicated to his development as a person and the success in the cases he chooses to represent in court. Progress is vital to the digital world. This makes the tech hub business list among the top contributors of the revenue growth in the country.

The diverse culture in Mexico aids in many fast growing hubs like brewery production. They provide employment opportunities to many people. Monterrey city in Mexico is home to many brewery industries like Cuauhtémoc Moctezuma which is currently owned by Heineken. This status has made Monterrey a hub for small and big beer businesses.

The Impact of Ivy League Education on Job Preparedness

The Benefits of an Ivy League Degree when Job Searching

The term Ivy League comes from a classic university sports conference that includes eight schools in the US. However, this term has gone beyond athletics and now describes schools known for very selective admission and extremely high standards. Getting accepted is difficult, requires hard work and consistent above-average performance.

Alexander Djerassi experienced an Ivy League school firsthand as he attended and graduated from Princeton University’s School of Public and International Affairs.

What success did he experience as a result of his education? What advantages do these universities have over others? Most importantly, what impact does an Ivy League education have on your job search?

It’s Who You Know

Ivy League schools don’t only provide an impressive title to put on a resume; they also provide people valuable contacts. Many of the students become successful business people, law and medical professionals, and government officials.

The best way for students to get a job is by networking with people who already know them. There’s no need to prove capabilities to get in the door; these people are already familiar with what they can do.

The Application Hurdle

When someone applies for a job, their resume is typically one of dozens or even hundreds of other applicants. The job market is competitive, and people can easily become lost in a mix of similarly qualified candidates.

So, students need to take steps to make sure they stand out. An Ivy League degree pushes their name to the top of the hiring manager’s list. When a manager is looking through a stack of resumes, an Ivy League education speaks volumes about the type of candidate they are.

What it tells Employers

When an employer reads that a student has graduated from somewhere like Princeton, Harvard, or Yale, they can immediately assume several things about them:

1. That you are determined and not afraid of challenges.

2. They can regularly perform at a higher level than most.

3. They have succeeded in one of the most difficult and demanding educational programs.

A Good Example

Alexander Djerassi worked his way through two Ivy League degrees and has experienced great success as a result. He went on to work in diplomacy, politics, and business.

Because of his experience at Princeton and Yale, he motivated highly skilled teams and built successful projects. This is a real-world example of the impact an Ivy League school can have on someone’s future career.

A Positive Impact for Your Job Search

An Ivy League school can help a person build connections with other highly motivated and successful people. It can bring their application to the eyes of a hiring manager looking for the best candidate.

A degree from an Ivy League school says a lot about their work ethic, ability to overcome obstacles, and consistently high-performance levels. The future career benefits of attending one of the eight Ivy League schools are clear.

What to Expect From Digital Banking in 2021

Very few economic sectors were left unscathed during the coronavirus pandemic of 2020, and digital banking was one of them. If anything, the use of digital banking platforms, electronic payments, and mobile alternatives to traditional banking experienced a upsurge during the worst months of the pandemic. Financial technology as a whole was barely impacted in 2020, and this was pretty much what market analysts expected.

Now that we have welcomed the year 2021 with very positive hopes about the near future, this is a good time to discuss what we may see happening in the digital banking segment over the next few months.

Digital Banking: Not Just for Millennials Anymore

The social distancing measures and lockdown restrictions of the pandemic resulted in elderly individuals flocking to digital banking channels; they figured out that this was the best time to become acquainted with internet and mobile banking, and we can safely assume that many of them will continue to use these platforms even after vaccination campaigns multiply. The idea of standing in line to cash checks at a branch is no longer appealing to most of the population. The ability to convert Bitcoin to cash has become more accessible to those that do not have too many technical skills.

RegTech is the New FinTech

Can banking and financial regulations benefit from emerging technologies? Absolutely. When you consider the complexity of blockchains supporting cryptocurrencies such as Bitcoin and Ethereum, we can see that regulation and compliance are conducive to being implemented by means of technology. When we check out an institutional profile on iBanknet, for example, we only become aware of a system we can use to gather information on American banks; coders and developers, however, see an application programming interface that can be used to augment existing systems. Compliance can be automated; if you think about it, RegTech can help individuals open international bank accounts right from their smartphones as long as they are guided through the Know Your Customer and compliance steps.

More Personalized Financial Advice

There was a time when personal financial planners mostly catered to high net-worth clients because they thought that dealing with non-wealthy clients was too much of a hassle. Modern financial platforms do not discriminate in this manner; technology makes it easier to service clients from all socioeconomic levels, and financial institutions are now seeking strength in numbers. The key is in the calculation and management tools that personal financial planners work with; since these tools are now more advanced, planners can pursue more diverse leads. At the same time, it is easier for banks to incorporate online financial planning tools such as retirement calculators, compound interest forecasting, budget worksheets, and others.

Greater Outreach to Commercial Clients

Digital banking started off with online access to personal accounts in the late 1990sm and it has advanced considerably ever since. In the meantime, commercial banking clients have also enjoyed many of the perks of digital accounts, but they still lag behind a bit when compared to the personal segment. We can expect this to change in 2021 because of the greater entrepreneurial spirit among younger Americans, who will in turn demand better digital banking services.