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How to Calculate Opportunity Cost?

William Vermillion

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November 9, 2022

Opportunity cost is the difference between what you gain and what you lose by choosing between two or more options. You feel the decision you made will result in better outcomes regardless of what you may lose. Your investment decisions will have both immediate and future gains or losses.

Consider the following example: Sell an asset Now or Hold on to it to sell later. Although an investor may be able to get any immediate gains by selling the asset immediately, they will miss out on any future gains.

Another example of opportunity costs is choosing between staying home or working. How much are you losing if you choose one option over the other?

David Rewcastle explains that opportunity cost does not only apply to money or investments; it can also be applied to your life.

Read: 5 Tips For Beginners in Cryptocurrency Investing

How to Calculate the Opportunity Cost

Although opportunity cost isn’t an exact measure of it, it can be quantified by estimating the future potential value you didn’t receive and comparing it to the value you chose instead.

The following formula can be used to calculate the opportunity cost:

Opportunity Cost = Return On Most Profitable Investment Choice – Return On Investment Pursued.

According to Darien Financial Analyst David Rewcastle, Opportunity cost is an idea that investors and economists love to study. What would have happened, for example, if Henry Ford hadn’t started mass-producing vehicles? You may not have heard of him, but he might have gone on and done something similar.

Rewcastle stated that opportunity cost is the proverbial “fork in the road”, with dollar signs marking each turn. The key is that there is something to lose and something to gain in every direction. Make an informed decision by estimating your losses.

Read: Create Your Company Financial Plan in 6 Steps

What does Opportunity Cost mean for you?

You may have difficulty understanding the concept. You can’t live in two places at the same time.

Explicit Costs

For investors, explicit expenses are out-of-pocket costs such as the purchase of stock options or spending money on a rental property. Other costs include wages, utilities, and materials.

Implicit Costs

Implicit costs do not represent a financial payment. These are not your direct costs, but the loss of income from your resources.

What is the significance of opportunity cost?

You can make better decisions by understanding the opportunity cost. You can make better decisions and be prepared for the consequences of your choices if you understand all of the possible costs and benefits.

5 Tips For Beginners in Cryptocurrency Investing

Keegan Walsh

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November 5, 2022

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5 Tips For Beginners in Cryptocurrency Investing

What information would you need about cryptocurrency and its risks? This article will provide all the information you need to safely enter the cryptocurrency market. In recent years, there has been an increase in people who are looking to diversify their portfolios through the purchase of cryptocurrency. The most popular ones are Bitcoin and Ethereum, but they’re not the only ones.

Let’s look at their history before we get into the details about cryptocurrency. Wei Dai, a computer specialist, created the first cryptocurrency system with his digital currency b-money in 1998. The new decentralized money was secured by encryption. Satoshi Nakamoto was later used to create the original Bitcoin protocol 2008 and the P2P digital currency system in 2008.

cryptocurrency is a digital currency that can be used to make online payments or store value.

It is important to understand that cryptocurrency prices are determined solely by supply and demand. This makes them highly volatile and not suitable for conservative investors. Your risk profile can help you make better investment choices.

1. Use a reliable platform

You will need to use an exchange or contract for a different broker to convert fiat funds or trust funds into cryptocurrency. They should support cryptocurrency as an underlying asset.

Exchanges offer a great deal of value for both novice and experienced traders, with features like cryptocurrency alerting.

You can set up automatic alerts to receive information about price movements for specific cryptocurrencies. This will allow you to make more informed and quicker investment decisions.

2. Find the right wallet

You’ll need a safe place to store your cryptocurrency once you have it. Your crypto wallet is a piece that manages the codes that allow you to access your cryptocurrency. You can have simple apps for your smartphone or more complex hardware that passes through paper and web wallets.

3. Do not spend more than you can afford to lose

You should invest in cryptocurrency the same way as you would any other type of asset. Don’t spend money that you won’t use immediately or in the near future so your standard of living is not affected by a market downturn. Do your research before making a decision. Also, remember that cryptocurrency is volatile and there are no guarantees.

4. Learn as much as you can

It is best to start investing in cryptocurrency by buying small amounts at first. You already know that Bitcoin is the most popular and widely studied cryptocurrency. There are many cryptocurrencies that you can choose from Cardano, Ethereum, Tether, and Ripple.

Many believe that Bitcoin is the best cryptocurrency to invest in. It’s also the most popular, secure, liquid, and valuable. Before you rush to make a decision, it’s important to understand blockchain technology and find out the reasons behind some of the most popular crypto projects.

Read: How to create wealth investing in real estate?

While it may seem obvious, it is important to be educated before investing in volatile cryptocurrencies. It’s important to be well-informed before investing in cryptocurrency. There are many potential downsides and upsides to this investment. You can learn the basics by reading articles from reliable websites and talking to traders. You should also consider investing in education if you are interested in becoming an expert in cryptocurrency or blockchain technology.

5. Take extreme care with security

Digital currencies are cryptocurrencies. Everything happens online. You must do all you can to protect your investment. You must first ensure that the crypto exchange platform is safe.

You will need to create a unique and complex password for all services that you use to store and manage your cryptocurrency.

Conclusion

One thing is certain about the cryptocurrency market: it will only grow. There are currently over 10,000 cryptocurrencies. Each one has its own advantages and disadvantages. Some of these cryptocurrencies could be the best investments.

Many people find market volatility unsettling and it makes it difficult for novice investors to make investment decisions. It is important to have the right tools and get the right education.

Create Your Company Financial Plan in 6 Steps

Ken Watterworth

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November 4, 2022

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Create Your Company Financial Plan in 6 Steps

A financial plan differs from financial statements.

Instead of looking at the past, you project what will happen in the future, forecasting income and expenses. Projections can be used as an early warning system to help you plan for cash flow dips and identify financing requirements.

You can also use it to monitor your finances. This will allow you to quickly assess your progress and avoid any problems. These are the six steps you need to make your financial plan.

Read: Why 90% of startups fail and how to become profitable

1. Reexamine your strategic plan

Financial planning should begin with the company’s strategic plans. Consider what you want to achieve at the beginning of each year. Ask yourself these questions:

What do I need to expand?
Do I require more equipment?
Do I need more staff?
Are there other resources I can use?
What will my plan do to my cash flow?
Do I need financing? What amount?

Next, calculate the financial impact over the next 12 months, including spending on a major project.

Read: 9 important steps to create your business plan

2. Make financial projections

You can create monthly financial forecasts by recording sales forecasts and expected expenses for labor, supplies, overhead, etc. Now add the costs of the projects that you have identified in step 1.

You can either use simple spreadsheet software or other tools in your accounting program. Do not assume that sales will immediately convert to cash. You should only enter them as cash if you anticipate getting paid based on previous experience.

Prepare a projection of income (profit or loss) and a balance sheet projection. You can include multiple scenarios, including optimistic, pessimistic, and most likely. This will help you anticipate the impact of each scenario on your projections.

Your accountant may be able to help you with your cash flow projections. As your banker or investor will need financing, it is you who must discuss the plan with your accountant.

6 steps to create your company’s financial plan

3. Arrange to finance

Your financial projections can be used to calculate your financing requirements. Talk to your financial partners before you leave for work to discuss your options. Bankers will be more confident in their financial management if they have well-prepared projections.

4. Prepare for contingencies

What would you do in the event that your finances suddenly went downhill? It is a smart idea to have an emergency fund of money in case you are in need. There are two options: keep a large cash reserve and have lots of credit available.

5. Monitor

Compare your actual results to your projections throughout the year to determine if they are on track or need to be adjusted. Financial problems can be detected early on by monitoring.

6. Get help

Consider hiring an expert to assist you in putting together your financial plan if you are not a financial expert.

Get our free financial planning template and start creating your financial plan today.

Dominic Siwik: Exercise Science vs Kinesiology

Healthcare

William Vermillion

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October 14, 2022

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Dominic Siwik: Exercise Science vs Kinesiology

Although many people mistakenly use the terms exercise science or kinesiology interchangeably with professionals in the field, they know there are significant differences. Students who are trying to decide which field to pursue in order to prepare for a career in exercise science or kinesiology will need to be able to clearly understand the differences.

Kinesiology covers a wide range of topics that study movement, function, performance, and how it affects overall health. Kinesiology’s sub-field Exercise Science focuses on exercise adaptation and human response. It also focuses on the mechanisms that influence exercise.

Kinesiology Specializations

Exercise science major Dominic Siwik explains that kinesiology can be considered an interdisciplinary field with many sub-specialties. Biomechanics and sociocultural foundations of sport are the theoretical bases for this field. Other sub-fields of exercise science include:

Training in the gym
Management of sports
Training for teachers in physical education
Sport medicine

Applying Kinesiology to Work Settings

Dominic Siwik states that kinesiologists can work in many fields, including fitness, sports, and therapeutics. You can also choose to be a wellness consultant, an instructor in various sports, a physical education teacher, or a fitness specialist. You will be responsible for assessing injuries, developing rehabilitation programs, and conducting fitness assessments.

Exercise Science Specializations

A degree in exercise science will lead to the most popular job: a healthcare worker. This is if you have passed the Exercise Physiologist Certified exam, which the American Society of Exercise Physiologists administers. Many have also completed a university degree. They can assess a person’s fitness level and create customized workout plans. These people work in hospitals, businesses, gyms, health clubs, and military, and athletic programs. Through 2022, job growth is expected to be nine percent.

Read: What is a Neurologist?

Exercise Science Applications

According to Dominic Siwik exercise science, majors are trained to improve health and fitness. They may create custom programs for clients, train them for marathons, or help with injury recovery. The body’s response to exercise is important for overall health. Clients are closely consulted by exercise science majors to create fitness programs that promote or maintain good health.

What type of education is required?

To work as a kinesiologist, you need to have a bachelor’s degree, master’s degree, or doctorate. A doctorate is required for clinical research and other specialized areas. A bachelor’s degree in exercise science, physiology, or a related field is required for most positions in this area. A physical therapy doctorate program will require students to study kinesiology if they want to work with patients in rehabilitation.

Both programs are for students who are interested in health and wellness and wish to share their knowledge with others. Students who are interested in health and wellness careers have many options. It is important to decide which career path you want to follow, whether you are interested in exercise science or kinesiology.

What Is Creative Thinking and Why Does It Matter?

Entrepreneurs

Ken Watterworth

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July 28, 2022

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What Is Creative Thinking and Why Does It Matter?

Creative thinking is the ability to think differently about something. Employers across all industries seek employees who are creative and can bring new perspectives to their workplace.

Creative thinking can include:

A new way to approach a problem
How to resolve a conflict between employees
A new result from a set of data
An untested approach to earning revenue
A new product or product feature

Learn more about creative thinking and how it can be beneficial for your career.

Read: What Is Construction Project Management?

What is Thinking Creatively?

Thinking outside the box is part of being creative. Creative thinking is often about lateral thinking. This is when you are able to see patterns in a way that is not obvious.

Creative thinking could be defined as the ability to think creatively and find new ways to accomplish tasks, solve problems, or meet challenges. This means that you bring a new perspective to your work, even if it is not conventional. This approach can make departments and organizations more productive.

How it Works

There are many opportunities for creativity in the workplace, from highly technical positions to obvious artistic ones. Anything that leads to an “aha” moment in the workplace is generally considered creative. These are just a few examples of thinking creatively that you can use in different job roles.

Artistic Creativity
Creative Problem Solving
STEM Creativity

The benefits of thinking outside the box

Employers value creative thinkers for their bottom line. Companies that encourage creativity can see higher revenue growth. You can be more attractive as a leader or job candidate if you are a creative thinker.

Read: Which final deliverables should project managers be responsible for?

How to showcase your creative thinking skills

Consider how your creativity has been helpful to you in the past, and how that might help you when you apply for the job.

You can find fulfillment in unexpected places if you are looking for creative work opportunities to fulfill your personal needs. You will feel creative if you can put your own stamp on your work.

Read: 9 important steps to create your business plan

Kenneth Watterworth is a business owner from Westport, CT. Visit his official website to learn more about Ken Watterworth Westport.

What is Construction Project Management?

Industries

Ken Watterworth

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July 19, 2022

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What is Construction Project Management?

Avoiding costly errors is a priority when millions of dollars are at stake in a construction project. You must consider every possibility and detail when you are working within tight deadlines and financial constraints.

You can do this whether you are constructing oil and gas refineries or power plants, or managing infrastructure projects. Construction project management can help you manage the construction process efficiently and keep it on track, from planning and design to resource management and budget allocation.

What Is Construction Project Management?

Project managers are responsible for the entire process, communicating with the management. Construction planning plays an important role. A well-planned strategy and plan can help overcome overheads, reduce budgets, deliver on time, and maintain quality standards.

Read: Which final deliverables should project managers be responsible for?

What skills are important in construction project management?

A construction project manager needs to have a particular set of skills. They need to be able to adapt to any changes and manage a number of different aspects of their project. Some of the following skills are important in a project management contractor:

Industry Knowledge
Openness to Feedback
Micromanagement Avoidance
Technological Affinity
Negotiation
Financial Management
Risk Management
Organization
Flexible Planning
Communication

What does a construction project manager do?

As the job involves important responsibilities, being a construction project manager requires many skills. It is the responsibility of business owners to find qualified candidates and to train them in these skills as construction projects become more complex and larger.

Other construction project management responsibilities include:

As the client’s point of contact throughout the project, I will be there to answer any questions.
See more information about obtaining permits or design evaluations
Assist in managing the labor schedule of each project and matching the talent to the task.
Change orders
To ensure that the project is practical, work with the architect/construction crew.
On-site meeting with the architect, client, and construction crew
Negotiate with suppliers, vendors, and subcontractors
Send project estimates to clients.

What are some project management concepts?

The process groups are initiating, planning, and executing, as well as monitoring and controlling, and closing. Knowledge areas include integration and scope, time cost quality, communication, risk management, procurement, stakeholder management, as well as communication.

Read: 9 important steps to create your business plan

How to become a construction project manager?

The requirements for the first include a minimum of 4500 hours of experience and a 4-year degree ( approximately two-and-a-half years in a full-time job), as well as required education in project management.

To build a career in construction project management, you need both education as well as experience. Many people enter the field after graduating from college with a bachelor’s in construction science, management, architecture, engineering, or another related subject.

A project manager with the right qualifications has the personality, skills, and experience to succeed in the job. At least three years of experience in a similar role, the ability to communicate, formal training, and a PMP certificate are some of the requirements.

Helpful Features of a Product Will Help Sell Itself

admin

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July 14, 2022

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Helpful Features of a Product Will Help Sell Itself

It is important to distinguish between benefits from features when developing and marketing products or services. Features refer to the characteristics of your product or service. Some ovens have features like self-cleaning, smooth stovetops, and warming bins. Let’s discuss how to let your customers know the helpful features of a product.

Benefits are the reasons customers purchase the product or service. Some ovens have benefits such as safety, ease of use, affordability, and, in the case of stainless steel ovens, prestige.

Read: Why 90% of startups fail and how to become profitable

Services are just like products. They have distinct features and benefits. However, these differences might not be obvious to potential customers. One contractor might use master painters, while another may employ laborers to paint. Both can tell you that they paint, but one is a master painter and the other produces better-looking paint jobs (a distinct advantage).

Each product and service has a purpose. An oven’s purpose is to bake raw foods. However, not all ovens offer the same benefits and features.

Uniqueness can make a product or service stand out from the rest. The capabilities of a product and service can be communicated through features. Customers will only value features if they are valued. Customers should see the benefits of your products and services as valuable. You can increase sales and profits by highlighting the benefits of your products and services in your marketing and sales efforts.

Customers buy products and services to solve a problem. Your customers will ask the question “What’s in It for Me?” Consciously and unconsciously, they will be asking this question all the time. If your product or service offerings are to be successful, they must provide solutions and satisfy their needs.

Benefits are more important than features for your customers. It is crucial that you fully understand the benefits of your products and services, highlight these benefits in your sales efforts and keep your products and/or services current when additional benefits are required by your customers.

Take a look at how auto manufacturers market their vehicles. Minivan manufacturers don’t stress the vehicle’s layout or carrying capacity when trying to sell them minivans. They display images of happy families loading their children, toys, and sports equipment into their minivans. They highlight the benefits of the vehicle’s features more than the features.

Read: Which final deliverables should project managers be responsible for?

Examples of benefits that go beyond features.

Hosting solutions for medium-sized businesses can be offered by a vendor of Web site shopping carts. They will emphasize the ease and time savings that come with not having to maintain a website. It is selling convenience, not software.
If a carpet company could show how its carpets can be used to decorate interiors, it might be more successful. Pictures of rooms that are beautiful could be more helpful features of a product than a pile of carpet samples and a list of all the fabric features. It is selling beauty, not carpets.
An advertising company may focus its marketing efforts on its end product, which could be improved performance or increased profits. Not its consulting methods. It is selling profitability and not consulting.
The manufacturer of computer printers may emphasize simplicity and less time than reliability or quality. It is selling ease-of-use, not printers, but quality.
Salmon fisheries might highlight the health benefits of salmon. It is selling health, and not fish.

Read: How to write a standout Executive Summary

What are the most important features?

Because they give your customers clues about the benefits of your product or service, features are always important. While benefits are more important than features, there will be times when features are crucial.

A unique feature can give you a competitive edge if all products in a product category offer the same basic benefits. The bass booster was the best-selling product in a category where all boom boxes could play tapes and CDs. However, it provided a significant benefit for the consumer. Another example is that online diagnostic tools were developed by leadership consultants who all referred to similar results in performance improvement.
Consumers can easily compare products or services to find the best deals. This is possible thanks to the Internet. Although most cell phones offer the same benefits for communication, consumers may choose to not buy a particular model if it lacks a feature that is available on a rival’s phone. Consumers may decide to buy the phone with Bluetooth connectivity if it has this feature and not the one without. It is not important that Bluetooth connectivity is available, but it is easy to compare feature sets.

Conclusion

Locating the customer’s pain points and how your product helps to fix the will translate the helpful features of a product.

What is OMACP and How to Remove a Virus on Your Phone?

Technology

William Vermillion

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July 14, 2022

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What is OMACP and How to Remove a Virus on Your Phone?

Do you have problems with your Samsung device because of OMACP? If so, you’re in the right place.

Let me first describe the app.

What is OMACP?

OMACP allows you to set up cellular activity on smartphones that have MediaTek processors.

Sometimes it can be a virus on your android device. OMACP is a confusing acronym that many users don’t know. It slows down devices and gathers vital data.

This virus can cause serious problems as soon as it gets into your smartphone. In a matter of seconds, your smartphone’s functionality could be damaged by negligence.

There are many ways to get rid of the OMACP virus. These solutions are listed in the section below. Sometimes, the device will not function properly. This is a sign that there is a malicious app.

Notice: While the Omacp Android app has many security vulnerabilities, it is still important that users pay attention to it before they install it on their phones.

What’s OMACP virus?

We hear Omacp occasionally, but not often enough. The above statement shows that Android users are not well-versed in the Omacp virus and its functions. Omacp is malware that can infect your android phone. Omacp is a type of virus that can negatively impact the functionality of your Android device. This could lead to your personal data being lost, or authentic data being stolen. This is why we need to be more careful.

If we know that our phone has been infected by the map virus, we must find a way to fix it as soon as possible. Otherwise, you could lose all your data and possibly endanger your life. This problem must be fixed as soon as possible, but we need to find out if our android phones have been attacked by the omacp. You will need to be aware of the following passage.

How do you identify OMACP in Vivo?

Many viruses infect our devices silently, and they begin affecting our system without us being aware. It is difficult to identify Omacp in Vivo and other company devices, but the virus detection process will be the exact same as in the next paragraphs.

Continue reading if you are interested in finding out if OMACP has affected an android device. The best way to determine if OMACP is present in Samsung devices is to analyze the app management storage.

Your device’s messaging app may store unusual data. This is the best way to detect viruses. If the messaging app uses unneeded memory, it could be a sign that malware has been installed.

Also, read Applob: How to Download Applob APK for Android 2022

How do you remove Omacp from your Android devices?

If you have confirmed that the virus has infected your device, you don’t need to panic. Follow these steps to get rid of Omacp Android Virus.

Back up important files such as images, files, videos, and other information in external storage. To avoid losing your important files, keep them separate from malware.

Turn Off Your Android Device

If you find the Omacp virus on your device, it is best to turn off your computer. It will stop it from causing direct damage and you can immediately stop the dangerous process by shutting down your device.

You can also look into the virus’s roots and determine which solutions work best for your Android device.

Although removing these viruses from your Android device may take a while, if you follow the steps carefully, it will be possible to do so in a matter of minutes.

Omacp Infected Applications Must Be Deleted

The android virus is a serious threat to the system. It can only be triggered by infected applications. It is therefore important to remove infected apps from devices and get rid of the malware.

The omacp Android virus attacks primarily system apps. We must remove them using the app management system. Follow the steps below to quickly identify the affected apps.

Go to the settings section of your device first.
Search now for the app management option.
Look through all installed apps and identify which ones are taking up too much space.
All applications that use abnormal data should be deleted

Common Signs of Omacp Android Viral

Although there may be many warning signs that your device is infected with malware or viruses, the ones listed below are the most common.

Excessive ads: No matter what app you choose, advertisements are always appearing on your phone. It is possible to tolerate the irritation, but this indicates that your phone has a virus.

Unusual Apps: Many unidentified applications are installed automatically on your device and run in the background. This could be caused by the ” Omacp” presence in your smartphone.

A virus is when an application you have installed disappears from your device’s icon.

Battery Draining – This is the most serious problem that users face during an Omacp problem. Many applications keep running in the background, draining the battery faster than usual.

What you need to know: There are many websites that contain malicious content and viruses. These sites should be avoided as they could cause damage to your device.

How can we prevent Omacp from entering our device?

There are some steps you can take to stop Android viruses from getting into your device.

Always only download software or applications from authorized sources. Check their licenses and certificates.
To block malicious apps, keep your device’s internal systems open at all times.
Unknown apps can cause viruses such as Omacp.
To prevent data loss, avoid public wifi.
You should install a trusted antivirus on your device. Regular scans are necessary to detect threats.

Wrap it Up:

You should immediately remove Omacp app from your phone if you suspect that it has been installed without your permission. These steps will help you remove the threat from your device and protect you in the future.

After performing regular device checks and making sure your device is protected with premium antiviruses, Omacp Android Viral Virus can be removed. You can also reset your device to remove malware and increase performance.

Companies that make smartphones continue to upgrade their software in order to eliminate viruses and bugs.

This guide should help you get rid of the virus from your phone. If you have any questions regarding Omacp please leave a comment.

What is email marketing?

Entrepreneurs

William Vermillion

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June 30, 2022

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Email marketing can be used to promote products and services as well as a rewarding loyalty. Email marketing can be used to inform customers about new products and discounts. You can also use it to educate your customers about the benefits of your brand and keep them interested between purchases. You can do anything from it.

Your email marketing game can be improved

Email marketing is a popular and effective tool for marketing campaigns. This article will discuss how email marketing and the use of promotional emails can help you grow your business. We’ll also give you some tips to get you started with a successful email campaign.

Read: How to Build an Inclusive Training Program with IDOL Courses

What is email marketing?

Email marketing can be a powerful channel for marketing. It combines direct marketing and digital marketing to promote your products or services. Integrating it into your marketing automation can make customers aware of your latest products and offers. It can be a key part of your marketing strategy, helping with lead generation, brand awareness, and building relationships.

A brief history of email

The first email was sent in 1971. Although the message was a simple string of numbers, letters, and words, it marked the beginning of a new era in communication. Tomlinson was also responsible for the introduction of the “@” symbol to email addresses.

Gary Thuerk, a Digital Equipment Corp marketing manager, used this method of direct communication in 1978 to send the first commercial email to inform people about a new product. Although his email list was limited to 400 addresses, the emails he sent led to sales of $13 million.

The internet was commercially accessible by the middle of the 1990s. Changes in the way people communicated began to occur. Marketers discovered email as a way to market. Marketing emails have also brought about regulatory changes. The U.K. The Data Protection Act in the U.K. was amended to allow for an “opt-out” option for all marketing emails.

Read: How to create an effective Instagram marketing strategy

Email marketing has many advantages

Email is a very popular tool for marketing businesses. This is partly because it requires the user to take action. An email will sit in an inbox until it’s deleted, read, or archived. Email is also one of the most cost-effective marketing tools. According to, a 2015 study done by the U.K.-based Direct Marketing Association, email yields an average return of investment (ROI ) of $38 for every $1. Check out our Email Marketing Statistics by Industry for more information on email marketing.

Email marketing is a great way to build a relationship with your audience and drive traffic to your blog, social network, or any other place you want people to visit. You can segment your email users to ensure that you only send people the most relevant messages. These email marketing tips will help you get started.

Email marketing allows you to perform A/B testing of subject lines or calls to action in order to determine the most effective message. It also makes it easy to send emails using email marketing software.

Building your email marketing list: Tips

How can you create an audience to send emails as part of your online marketing efforts? There are many ways to go about it, but all of them involve treating customers right and taking into account marketing best practices.

Don’t buy email lists. Many email marketing companies have strict policies regarding email addresses. This means that it is forbidden to send to bought lists. Use lead magnets to encourage people to sign up for your email list. Offer a discount to your customers when they sign up via a customized signup form. You could offer your new subscribers free shipping or give them the chance to win a prize. These are just a few more ways to help you build your email list.

You should be aware of all applicable email laws and regulations in your country. The CAN-SPAM Act is in effect in the United States. Canadian Anti-Spam Law or the General Data Protection Regulation in Europe are some examples of the requirements for sending automated emails. These regulations are based on your location as well as the locations of your subscribers. It is your responsibility to find out which laws apply to your situation. More information on how to avoid spam filters.

Read: 19 Reputation Management Stats Every Business Owner Should Know

Have a conversation with customers using email. It is a great marketing tool. But it can also help your business in many other ways. You might consider taking a break from your usual marketing content to send surveys, thank customers for buying from you, follow up on abandoned carts, or simply say hello. It gives your audience the opportunity to give you valuable feedback and also provides insight into the person behind your business.

Don’t send unnecessary emails to someone who has given you their email address. Over-simplifying your emails to your audience will lead to them losing interest in you or even unsubscribing. You’ll keep them loyal for a long period of time if you focus on sending them relevant and engaging messages about what they love.

19 Reputation Management Stats Every Business Owner Should Know

Entrepreneurs

Kevin Curran

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June 23, 2022

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19 Reputation Management Stats Every Business Owner Should Know

Reputation is important for a business’s very existence. Interestingly, it is a fact that more than 80% of consumers trust your online reviews as much as personal recommendations. That is why online reputation has become a game. Edelman trust barometer shows that more than 65% of consumers trust the results of online search engines while conducting research on business. So, you need to understand first what online reputation management statistics are favorable for your business.

Read: How to Build an Inclusive Training Program with IDOL Courses

Do you know that 90% of customers (2016) prefer to read reviews on social media sides or websites before they buy any product? Your whole business reputation depends on their online views about your product.
67.7% of customers purchasing decision depends on your business online reviews (2015). More than half of the traffic of online viewers view your reputation statistics before buying your product.
We see that personal recommendations are important. But not more than online reviews. Online reviews effects 84% of customers (2016). They prefer online views over their personal recommendations.
What is the power of positive views? 74% of customers view positive reviews as crucial to trust any local business (2016).
Your online business reputation is the key to generating many revenues. If there is an increase of stars on the Yelp rating scale your revenue will increase from 5 to 9 % (2016).
The impact of the Yelp rating scale is so much that 82% of people or Yelp users visit Yelp if they want to buy a product (2013).
Search engine reputation is very important as 91% of online customers use them as a tool to make decisions about the product (2012).
Do you prefer a search engine? Almost 65 % of people around you trust the results of the search engine more than any other online or offline sources (2014).
Online reviews have become so important that if the results are not positive it will affect them. In the same way, 50% of US adults try to google themselves to see the results. (2012).
Your company should have a reputation to appear in the first ten results of the search engine. Because statistics show that 93% of searchers use only the first ten of results on web pages (2014).
If you have one opposing article you will lose 22% of your business revenues (2015). If you have two negatives on the search page there is a risk that you will lose 44% of your customers. If three than 59.2% of customers or buyers will develop a negative image about you, and you will lose them (2015). If four then it is going to turn your business down because you will lose 70% of users.
Half of US adults google something before they start a business with someone. 45% said they if they find something negative, they will not start a business with them (2012). 56% of US adults said that they will do business because they found something positive.
A bad reputation is as threatening as cancer. If you have a bad reputation it will cost your company at least 10% more per hire (2016).
Employers or companies also screen candidates before selecting them. Statistics show that 70% of screen candidates up to 11% by using social media.
If you have a good reputation online then you will not have to suffer from competition. 95% of recruiters believe that if you do not stand out in your online reputation then you will have a hard completion (2015).
Statistics show that 75% of companies search online for job candidates (2010). It shows the importance of online recruitment.
A strong online reputation influences the decision to hire someone (2010). Almost 85% of US HR professional places importance on the online reputation of candidates.
Rejection also depends upon online reputation. 75% OF U.S. recruiters reject candidates due to their bad reputation (2010).
Statistics show that 57% of recruiters do not interview candidates who have no reputation online or who can’t be found (2017).

These online reputation management stats should be utilized by every business owner to create a strategy around.

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