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Protection of Algorithms that Enhance Business

Jan 13 2024 Published by admin under Uncategorized

Good business managers are praised for their decision-making ability. However, extraordinary business managers redefine how decisions are made. What separates legendary leaders like Steve Jobs from the crowd is the ability to not only predict future trends but to create them. While to many this ability might seem like sorcery, much of this business acumen is owed more to science than intuition or magic. For instance, business tools like SWOT analyses are basic algorithms that businesses employ to achieve their goals. However, with digitalization, a new form of business tool has emerged in the form of machine learning, artificial intelligence, and the algorithms they employ.

The rise of digital assets like algorithms has created a legal dilemma. While intellectual property rights cover the protection of ideas and concepts, algorithms however are harder to define and protect. The question then is, how can algorithms that enhance business be protected especially if they are not subject to intellectual property protection?

What is an Algorithm

An algorithm can be defined as a set of rules used to solve a problem or complete a specific task.

Digital and computer devices all use algorithms to function and perform tasks. In addition, algorithms are employed to perform complex tasks like high-frequency trading, market analysis, and are the basis for AI, machine learning, and quantum computing.

The idea of automated decision-making dates as far back as 700 B.C. in ancient Greek folktales. Homer coined the term automaton in Iliad, where the goddess Hera rode a fiery golden chariot through the automatic gates of heaven. By the seventeenth century, philosophers had devised a set of logic rules to automatically make a default judgment to settle disputes. The next century birthed automatic industrial machines which became the precursor to modern-day robots. The end of the twentieth century saw the emergence of the algorithmic-information era, where algorithms are now used in precision cases like medical diagnosis and robotic surgery.

Algorithm eminence is best demonstrated when making decisions under uncertainty. They use historical observations and SWOT analysis to choose an action. Instead of re-inventing the wheel, managers can stand on the shoulders of those that came before them and use historical data for each scenario. Going through each scenario would be time-consuming as it requires accounting for all present and future changes. Picture Doctor Strange looking into the future 14,000,605 times to account for every possible showdown between the Avengers and Thanos in the Infinity War movie.

Fortunately, such a daunting task can be easily solved using algorithms. In fact, AI-driven algorithms predict better outcomes as they receive more data. At the same time, machine learning-based algorithms learn or teach themselves with each repetition of a scenario. Meaning, the longer they are in use, the more accurate they become. Instead of diminishing over time, most algorithms appreciate over time and this is why protecting these business assets is so crucial.

Why is Intellectual Protection of Algorithms Important

Algorithms are valuable business assets that warrant protection. In addition, to create an algorithm, it is important, to begin with, the end in mind and work backward to achieve the expected end result. As such, most algorithms require several iterations to achieve the desired effect.

At the same time, the use of supercomputers and bots is becoming more mainstream with each passing day. This rise in adoption is enhancing the need for businesses to safeguard their competitive advantage. However, this would be impossible if the effort is not rewarded or protected. This is the role intellectual property protection plays, without it there would be no incentive to invest in innovation.

Intellectual property protection is what makes the creative process worthwhile for creators. For many inventors, success doesn’t come overnight nor is it achieved effortlessly. Years of practice, trial, and error are invested in the creative process before even considering the financial implications.

What makes this investment in time, effort, and money worthwhile is the idea of reaping some form of financial reward in return for their efforts. In this way, intellectual property protection serves as a form of security for creators and inventors.

Protecting Algorithms that Enhance Business

As a result of expanding digital trade and e-commerce, more areas of the economy are being digitized. As such, algorithms have become the backbone of breakthroughs in artificial intelligence and computer science. New opportunities bring new challenges. New advancements make it difficult for IP law to keep abreast. This results in blanket IP laws that keep revealing built-in loopholes. The Bernstein and Junger court cases even suggest that algorithms are a form of speech.

Copyrights held up well when actual lines of code were the basis of algorithms. Nowadays algorithms can be built by clicking icons or using drag and drop features. Individuality has been taken out of the writing of the source code.

Patent law proves troublesome since patents reward the first winner to cross the finish line. Nowadays algorithms can be written without any human involvement, using self-learning artificial intelligence. If no one is directly involved in creating the algorithm then ownership becomes debatable and it is not clear who should be credited as the creator. To complicate things further, patent law protecting software often stipulates the disclosure of algorithms contained therein. While failing to adequately protect against copycats directly copying the source code or recreating it.

Conclusion

Presently, algorithms do not neatly fit into any existing intellectual property category. As such, to adequately protect these vital business assets creators must employ a proactive approach that utilizes multiple available resources and categories. For instance, businesses using algorithms can issue non-disclosure agreements, and confidentiality letters stipulating that employees, partners, and subcontractors may not share any breakthroughs birthed during business hours, using business resources. Rather than filing a patent, the business should take the trade secret route.

Trade secrets are confidential business information from which the business derives its competitive advantages. A trade secret is something that takes time and resources to develop, is critical to the business, and cannot be reverse-engineered. Algorithms are generally hard to reverse engineer without their source code. The algorithmic trade secret is viable as demonstrated by Coca-Cola and its secret formula, Merchandise 7x.

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How to deal with apartment defects: A guide for strata unit owners

Jan 13 2024 Published by admin under Uncategorized

Strata units share walls with other strata units, but they also have their own exterior walls where they may build balconies or patios on top of them. When looking to invest in a strata unit or apartment, it is best to get a strata report in Sydney or elsewhere, so that you know what their specific regulations and laws are, and what they allow and disallow on the scheme.

What are the most common defects in apartments and what can you do about them?

Apartments can have many defects including cracks or movement in walls, doors that don’t close properly and issues with plumbing. In order to effectively deal with these problems, it is important to understand the different types of defects and how they can affect your apartment’s value as well as health and safety risks. A common way to do this is through a building inspection in Sydney by a qualified inspector prior to purchasing the property. This should help uncover any major structural deficiencies which might be hidden behind drywall or under flooring such as excess moisture damage leading to mould growth inside wall cavities for example.

Some common defects that apartment could have include:

Plumbing issues.
Electrical problems, or inadequate electrical outlets and lighting can lead to safety risks in the apartment especially for families with small children.
Fireplace not working properly (frequent cleaning of chimney required).

It is important that you sort out these defects before moving into your new home as they could cause health concerns which may be hard to detect until it is too late. It might also cost a lot more money if you find them later on down the track when renovations are necessary. A good way to avoid this headache altogether is by getting an inspection prior to purchasing the property. This gives you peace of mind knowing exactly what condition your investment is in so no nasty surprises come up on a future date.

Strata defects refer to anything that damages or negatively affects your unit’s structural integrity, health and safety, value as a place to live, environment quality and enjoyment, security of tenure (ease of getting out of your lease). Common strata defects include:

Faulty or incomplete construction; leaking roofs, faulty plumbing and electrical wiring etc.
Unapproved building works carried out by previous owners that have a negative impact on the value of a unit as well as surrounding units in the complex (i.e. painting over brickwork).
Building work completed without council consent or any inspections being done to make sure it is safe for use.

A lack of a strata inspection in Sydney is the number one reason for expensive rectification work being needed on units, so it is very important to have an annual or semi-annual check done. There are also some problems that cannot be seen by untrained eyes such as damage caused from leaks which may not show up until later down the track when they’ve already caused more damages. For this reason, all major defects should be prioritized and acted upon immediately before anything gets worse. This includes things like water leakage into your unit from another apartment or any cracks in walls due to shifting foundations with weather changes.

Most importantly you want to make sure that if there are any issues around maintenance found during a building inspection, these need to be addressed before you make a purchase. Knowing that these issues have been already dealt with is a great way to feel confident in your decision and avoid any major future costs.

It’s also important to note that when buying units, there are no guarantees around the quality of fittings or fixtures inside them as this comes under building compliance which changes depending on council requirements at the time of construction. For example, while tiles may be considered standard today, if you were to buy a unit from 20 years ago built before ceramic became popular, it would need replacing immediately thus becoming an unexpected cost for buyers after they have moved in. The best approach here is to make sure all significant items such as flooring, appliances and heating systems look new so you know they won’t become problems later.

How to deal with a leaky toilet or a clogged sink

Leaky toilets and clogged up sinks are some of the most common issues faced by strata unit owners. These can be rectified by a professional plumber or a drainage expert. However, many times these issues arise because the damage has been done by previous owners and they can’t be repaired; instead, they need to be replaced, which is another unexpected cost for new unit buyers.

The best approach here is to completely gut check your bathroom prior to moving in so that you know what kind of shape it’s in before making any decisions on whether you want to put money into fixing/replacing stuff later on down the track when problems come up, even if this means hiring an inspection service.

What is mould and how to get rid of it

Mould is another issue that can cause serious health problems in your home, especially if you have children or elderly people in the household. Mould can make a whole house smell bad and cause several health problems to everyone who lives there.

It is important for owners of strata units to be aware that they need to do what they can in order to prevent mould from growing, but sometimes it is inevitable when humidity levels are too high for extended periods of time. In this case you will want professional help because it requires special cleaning agents which should not be used by homeowners since they might damage other surfaces in their homes instead of removing the actual problem; mould stains on walls and ceilings alike.

How to report defective appliances, plumbing, wiring, leaks, cracks, etc

Reporting defects you find in a strata unit in terms of appliances that don’t work properly, or leaks or cracks in ceilings, walls or flooring is something that needs to be dealt with right away. It is essential for the safety of residents and the building itself. The report should include photographs so that it will serve as proof when you present your case; this way it won’t be possible for them to deny any issues found within the unit.

It might also help if you read up on what rights owners have according to their bylaws regarding defects before reporting them since some complexes are stricter than others which makes a difference in terms of how they deal with repairs and whether or not there can be financial penalties imposed upon tenants who fail to comply under certain circumstances.

Tips for preventing future defects in your strata unit

There are many ways to prevent future strata defects, and it is important to do so since the last thing you want when trying to sell your unit would be for prospective buyers to find out about extensive problems that will cost them a lot of money.

One way in which owners can prevent future defects is by hiring an experienced building inspection service; this will help ensure that there are no serious issues with structural integrity or other similar concerns that could end up costing owners thousands if they aren’t fixed before selling. It is also worth mentioning that sometimes even small repairs like changing light bulbs may need prior approval from the committee depending on the type of fixture involved, so make sure to check what kind of rules apply beforehand in order not to have any unexpected surprises on.

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Tips for Choosing Industrial Equipment

Jan 13 2024 Published by admin under Uncategorized

Are you planning to buy industrial equipment? Generally, buying industrial equipment is different from buying other supplies such as printed paper and hand soap. While buying machinery, sales are primarily final. Therefore, you will have to be entirely sure about your purchase. You must know what you are buying.

Buying industrial equipment is a significant investment, and you will not want to make a mistake in I industrial equipment such as liquid-filled gauge and Contractor gauge comes expensive. Therefore, you will have to take some consideration while purchasing these items. Let’s read what you should consider before buying industrial equipment.

Create a budget

Before you buy industrial equipment such as Piston snubber, you will have to decide your budget. You will have to decide your budget very carefully. You must avoid going too expensive on your purchase. You must evaluate the equipment very carefully. If you have a limited budget, then go for quality products than expensive products. You must focus on the features of the equipment rather than going for something which you will not need. It will waste your money a lot. For saving your money, you can purchase surplus equipment. By this, you can save a lot of money on the purchase of industrial equipment.

Evaluate the features

When you buy specific equipment such as a Remote Reading thermometer, you must consider features. The products with the latest technology with safety features give you the value of money. Therefore, you must consider purchasing such equipment, which will help to save money in the business. You can think to increase the budget for getting a good quality machine, but you will lose a lot of money purchasing.

Consider the installation and assembly

You must know how to operate a piece of industrial equipment such as a bimetal Thermowell. In addition, you must know assembling the equipment. Mainly large types of machinery get shipped in the parts. Assembling everything can be beyond your experience and expertise. Therefore, before you make any purchase, you will have to find out how to assemble and install.

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Affiliate Marketing – How To Create A Presell Affiliate Products Sales Page

Jun 24 2023 Published by admin under Uncategorized

One of the strategies that you can use is to create your own affiliate product sales page to improve your income. There are some products that are very good but its sales letter is not good enough. If you direct your customer to the merchant’s lousy sales letter, you might not even get any sales no matter how good the product is. The article will touch on how to create your own affiliate sales page.

You can take all the best parts of the sales copy bits from the merchant’s sales page that you are promoting for. Once you have collected all, you can even add your own sales copy and the end of your page will be the order button which will be linked to your affiliate order link page. When you are using this method, do make sure that you also cover these few areas:

o You must have a good headline to capture attentions. What you can do is have your own swipe file of good headlines that attracts your attention. You can try out the different headlines to find out which headlines works best for you.

o You must develop interest telling a true short story on how this product helps you or the customer that have bought them before. Tell them “what’s in it for them” and list in bullet points the reasons why they must buy this product and the problems that will be solved if they buy the product.

o You should include testimonials and proof in your webpage to increase the customer’s trust in you. One of the sneaky ways to get the testimonials if to get it directly from the merchant’s sales letter.

o You must call to action. Tell them exactly the action that they have to take and do to close the sales.

These are the few things that you must include in your affiliate products sales page. This will ensure that you will be able to effectively presell them the affiliate products and you will have more control compare to if you direct them directly to the merchant’s website, there is no control for you as whether it will makes sales or not will depend on the merchant’s sales letter. I hope that you will find this article useful to you.

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9 Hidden Secrets to a Powerful Mortgage Marketing Letter

Jun 24 2023 Published by admin under Uncategorized

Mortgage Marketing Letter Tip #1: Know your readers well – You can’t influence everyone, so why waste time and money contacting consumers who have no interest in your mortgage services? It’s vital that you thoroughly research the most appropriate way to reach your target audience.

How you generate the contact information for the people you’re sending your mortgage marketing letter to is not as important as who receives that message. There are numerous companies that will create worthwhile lists of potential customers who might need your lending services. Most likely, the names were collected because the person showed a prior interest in purchasing or refinancing a home.

You could also create a list yourself. Organize a free giveaway that entices the people you want to reach. In return for the complimentary product/service you give away, ask for each person’s name and mailing address. Be prepared, though, as some people might be hesitant to offer this information. You’ll want to emphasis the information is for internal use and will not be shared with outside parties.

Mortgage Marketing Letter Tip #2: Grab your reader’s attention immediately with an offer – You only have seconds before a reader gets bored and moves on, so use your time wisely. How is your lending company different from the competition? Whether the benefit(s) you’re providing to your customers is a risk-free offer or a unique service, make sure it’s the first point your reader sees.

Your offer might include free information, a no obligation consultation, a contest, an exclusive invitation or a limited-time discount.

One of the most common mistakes marketing writers make is to focus their writing toward an aspect of the lending firm that is too obvious. How many times have you seen a mortgage marketing letter praising a company’s customer service as its competitive edge? As a consumer, you assume any lending firm you work with will be able to service your needs at a high level. If they didn’t, you wouldn’t contact them in the first place. So determine another facet of the business that sets you apart from your competitors. With a little creativity you should be able to find something that makes your lending firm unique.

Also, avoid the urge to copy the marketing techniques used by other companies in your field. Not only is this unoriginal, but it will cause you to duplicate a plan that might not be effective. No one else knows your business better than you, so don’t be afraid to take a risk with your mortgage marketing copy.

Mortgage Marketing Letter Tip #3: Tell your audience what you want (your call to action) – How are your readers going to know what you want from your mortgage marketing letter if you don’t tell them? Yes, I know this seems obvious, but far too often this important step is forgotten.

For example, if you want your potential customer to call for a free consultation, include a phone number (toll-free is always best) that will allow your readers to talk with a live person. The fastest way for your new customers to lose interest is by answering the call with a recording – especially when you’re encouraging their phone calls.

The popularity of the Internet has led some lending companies to use a call to action that encourages readers to visit their websites (e.g., Visit us online today at [http://www.xyzlendingcompany.com] to fill out your loan application).

Another common request in lending companies’ marketing letters is to have the reader respond back with a postage-paid mailer. This is effective because many people view filling out a card and returning it less of a hassle than a phone call. Here’s a reminder for your return mailers: Be sure to clearly restate your offer because some people will skip your mortgage marketing letter altogether and go right to the response card.

In addition to explaining your call to action, let readers know what type of person is ideal for your lending program. If you’re a large firm specializing in helping people with bad credit secure loans, tell your readers. On the flip side, if you don’t want to deal with low credit scores, make this fact known. By narrowing down your audience, you’ll demonstrate a niche, which often leads to increased credibility.

Mortgage Marketing Letter Tip #4: Establish a deadline to encourage immediate action – Once you’ve hooked your readers with the offer and explained the action you want them to take, set a deadline for responses. You could even present discounts or special deals as incentives for acting quickly. This would also be a good time to re-introduce that magic four-letter “F” word – FREE. After all, when was the last time “free” failed to grab your attention?

For those times when you need your readers to act even faster, take the deadline a step further by making your offer available to only a select number of customers. A benefit of this technique is that the readers who respond will feel like a select member of an elite group.

Mortgage Marketing Letter Tip #5: Back your offer up with a guarantee – Your writing won’t persuade anyone unless you’re convinced first. So state your message confidently and back it up with a guarantee. A lending company that uses a guarantee will almost always be perceived as more credible than a firm that doesn’t apply this writing tip.

Your guarantee can cover your pricing, customer service, response time, the time it takes to close the loan, etc. The benefit of a guarantee is that your readers will feel like there is limited risk when contacting you or trying your service.

Mortgage Marketing Letter Tip #6: Use basic words or phrases that create visual images – Active verbs and attention-grabbing adjectives are the best way to create visual images in your readers’ minds – but don’t get too carried away. Also, write to your audience in a tone and vocabulary they understand (studies show most people read at an 8th grade level). Frequent use of the words “you” and “your” is one effective way to communicate directly with a reader.

Creating mental images in the minds of potential customers will require separate techniques for different audiences. A wealthy, well-educated businessman doesn’t develop the same visual images as a young newlywed who just purchased his first home. This statement might seem obvious, but you’d be amazed at how many mortgage marketing letters I see that are improperly targeted to a mass audience of varied and unrelated consumers.

Connecting with a reader on an emotional level is the primary key in getting your message to sink in. You want your readers to feel like the text is speaking directly to them. So put yourself in their shoes. Why would your offer be appealing to your readers? If you don’t know, ask your customers why they’re funding their mortgage with you. This can be done through a mailed survey or over-the-phone conversations. Not only will you receive valuable feedback, you’ll also find the most effective ways to write your mortgage marketing copy.

Mortgage Marketing Letter Tip #7: Use testimonials from satisfied customers – Consumers relate to people who are similar to them. Luckily for you, satisfied customers are more than happy to volunteer praise. To back up your marketing message, get a few flattering remarks in writing and match those testimonials to the needs of your target audience. What are the unique selling propositions you stress? Get people to praise those specific aspects of your lending company.

For any testimonial, the two questions you want answered are the following: Prior to using XYZ’s lending services, what challenges were you facing? And, now that the service is complete, how is your situation different? Vague statements such as “Your service is great!” or “This lending program works well.” fail to give details as to why your lending company is better than the competition.

When it’s time to collect testimonials, don’t wait. Timing is an essential component when developing an effective testimonial. The longer you wait, the less likely your chances are for getting useful feedback. Approach your clients with a testimonial request while their satisfaction is still at its peak.

And a final point about your testimonials – always use your source’s full name and location. Limiting a person’s name to initials only leaves a reader guessing the validity of the statement. When people put their names next to comments about your lending company, you can be sure they support your services.

Mortgage Marketing Letter Tip #8: Use an appropriate length with bullets and subheads – The length of your marketing letter will depend on the situation, but longer is not necessarily better. As with any type of marketing copy, strive for quality over quantity and make certain each word is a necessary component to the sentence.

A common rule of thumb in direct-mail writing is the more expensive the item or service, the longer the letter. If your offer is strong enough, your audience won’t mind reading a lengthy explanation.

When it comes to formatting your mortgage marketing letter, don’t forget about bullets, subheads and white space. Your reader will feel overwhelmed when presented with large blocks of text without any spaces between the paragraphs. Bulleted text gives readers an opportunity to pause while scanning for the most important points in your letter. Shorter paragraphs (1-3 sentences) allow your audience time to fully comprehend the information without feeling the need to keep reading.

Mortgage Marketing Letter Tip #9: Conclude with a postscript (P.S.) – One of the most popular techniques used by letter writers for encouraging immediate action is through a postscript, that is, a “P.S.” Some studies have shown that many readers scan down the page to the P.S. before they read anything else. That means there’s a chance some of the most essential components to your letter won’t even get a glance.

So, whether your reader jumps to the last few lines of your letter or reads every word, you want to make sure your P.S. statement is convincing enough that your reader wants to take action. You may even want to restate your proposition in the P.S.

Additional ideas to consider in your mortgage marketing letter:

• Test your letter on a small group of people before mailing to your entire list.

• Make sure your letter is formatted so it meets postal specifications.

• Be honest. Readers know when you’re trying to trick them with false offers.

• Find a successful marketing letter and hand-write it word for word. As you do this more and more, your subconscious mind will begin remembering the effective techniques used by other authors.

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What Are Residual Income Activities in a Network Marketing Business or MLM Opportunity?

Jun 24 2023 Published by admin under Uncategorized

This is one of the most important subjects in building and running a successful network marketing business.

IPA – “Income Producing Activity”

What is an IPA and what differentiates it from any other activities?

The fact is that many people in network marketing businesses haven’t really grasped this concept in it’s most effective sense. They (unknowlingly) mistake unproductive work as income producing activity.

I’ll be the first to say, that I fell into this trap myself years ago.

Let me explain:

For simplification purposes, let’s say there are just 2 categories of activities (work) in building a network marketing or MLM business. They are Busy Work Activities and IPA’s (Income Producing Activities).

What are some examples of busy work?

- Attending a conference call.
- Going to a company or upline meeting.
- Attending a convention or a company event.
- Reading over company brochures or websites.
- Talking to 3 strangers a day because your upline said to.
- Studying the compensation plan or product specs.
- Talking on Instant Messenger day and night.
- Listening to training cd’s or reading a book about MLM.
- Thinking about your ‘why’ and if it’s big enough.
- Checking email (unless it’s from someone who wants to purchase what you are offering).
- Anything that is not DIRECTLY related to putting money in your pocket.

Now, are the things above important? Sure they are, but they should be considered secondary activities because they take your time and focus off of the most important thing: GETTING RESULTS.

Let me ask you something here:

If you know how to get consistent results in your business, then why would you spend so much time on activities that may possibly take time away from you obtaining your primary objective?

One of the reasons (in my opinion) that people get so in to all the conference calls, meetings, annual conventions and such is because it sort of feels like you are working your business in some weird way, and learning some things while you are around others in the same boat, and there’s always some ‘exciting’ news you need to hear. You are going through ‘training’. You are told to ‘Stay Plugged In’.

What does that mean? Well, for one it’s an easy way to keep you in the business longer by getting you all excited over other people’s successes, or the products, or the triple infinity comp plan, or the company, or the new distribution plant coming out soon, etc.

Yes, they are forms of training, and training is very important. However, the most effective training is one that produces predictable, consistent results. If you have been in calls or have gone to meetings and you still are not getting predictable results on a consistent basis, then you may want to take a good look at the so-called training you are tapping into.

Either it’s not really that great OR you haven’t yet implemented it correctly.

Truth be know (in my opinion), it’s usually that it’s not that great. Mostly just rehashed information everyone already knows mixed in with excitement, hype, and ‘you can do it’ terminology. Going back to my article on training – it has to focus on marketing and predictable results.

Now, what are some examples of True IPA’s?

- Making a sale.
- Generating your own leads.
- Signing up a business builder.
- Performing proven marketing methods on a daily basis.
- Effectively training your organization on marketing to duplicate your efforts.
- Anything that when the action is completed or accomplished, it directly generates dollars for you.

So, here’s a helpful way to locate and filter out any non-essential activities:

Sit down with a pen and a piece of paper. Think about every activity you do on a daily basis that is in any way related to your network marketing business. Write down each activity you performed, the time you spent on that activity, and what the direct result for that activity was (or is currently).

This will assist you in narrowing down the essential activities needed to produce your desired results, and will help you to spend less time on the non-essentials and more on the activities that count.

Then, take a look at the results you are getting or not getting from your marketing efforts. If your results are sporadic and inconsistent, you may want to consider what kind of education (training) you are getting and question the effectiveness of either IT or YOU.

Before you perform an activity for your business, simply ask yourself: ‘Is this a true IPA?’

Remember, we all need to constantly educate ourselves and stay ahead of the curve; but getting results is easy when you’ve been taught the basic template and what to look for. If you know how to effectively market, you can be successful in just about any business.

It’s OK to do ‘busy work’ sometimes, but just don’t confuse it for a true IPA or spend your ‘on duty’ time doing it. Save it for after hours.

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How to Write a Comprehensive Marketing Plan in 6 (and a Half) Steps

Jun 24 2023 Published by admin under Uncategorized

A written marketing plan is hugely important for any business. A well structured plan will help you to manage the ongoing performance of your business and to achieve your goals. It will bring structure to what you are doing, help you to raise finance, motivate you and your team, identify your strengths and weaknesses and so much more.

But what do you need to include in your marketing plan?

That’s a good question and one that you can answer in the following 6 (and a half) steps.

Step 1 – The Marketing Audit

You can’t put a plan together for where you want to take your business, without first understanding where your business is now. Using some simple tools such as SWOT and PEST analyses you can examine both your businesses internal and external environment.

Try to answer all of these questions and more:

What is your product, its features and identity and how is it differentiated?

Why will your customers want to buy it?

Where will you sell your product and how will you set your prices?

Who are your competitors, what are their products and services?

Which geographies are you targeting?

What’s the monetary value of the market?

Once you’ve completed some heavy thinking you’re ready to think about where you want to take your business, so move on to step 2.

Step 2 – The Mission

An effective marketing plan has to include a mission statement. It is essentially the overriding goal or direction for your business and will help you to understand and explain to your stakeholders what you actually want to achieve.

It should be a top level guide to your businesses direction, for example:

Bobs Mobile Printers will provide affordable and high quality stationary printing services to New York City based small and medium businesses delighting their customers with every order.

It shouldn’t be too specific or include any measures as these come later on in the plan, but it does need to give your business some direction.

Step 3 – Objectives, Strategy and Measures

Now is the time to get more specific. Your objectives need to spell out where you actually want to get to. For example Chris the Fish, a high street fish monger, has an objective to be the first choice on the local high street for fresh fish.

His strategy therefore is how he’s actually going to do this. In Chris’s case he has decided to sell the highest quality fish, at a premium price, with quality service. He hopes this will differentiate his offering from the local supermarket.

The measure then is how Chris will decide if he’s got his strategy right, what marketers like to call the control measure.

He has set a short term financial goal of increasing his turnover by 15% in the first year. He will also measure customer satisfaction and has set a target that 95% of customers will be happy to recommend him to friends and family.

Step 4 – Customer Segmentation

Once you’ve identified your objectives, strategy and performance measures, you next need to think hard about your customers. Marketing is as much about knowing your customers, as it is advertising or attending a trade fair. Think about who they are, what they like and dislike, when they do business, what motivates them, what their characteristics are and which newspapers they read.

The more you can profile your customers, the better you can target your offering and marketing communications.

Step 5 – The Marketing Communications Plan

At this stage it’s time to think about how you will communicate with your customers. This is all about telling your customers who you are, what you sell and, crucially, motivating them to do business with you. To be effective you need to consider a multilevel marketing approach i.e. more than one communications activity at any one time.

You should start by identifying your top three messages. For example Chris the Fish has three top messages to convey to his target audience:

1. Chris the Fish stocks only the freshest and highest quality fish,

2. Chris the Fish’s business is located on the local high street,

3. Chris the Fish has an online ordering service with free deliveries for orders over $10.

Once Chris has identified his top three messages, he can plan out how to convey these to his target audience.

Crucially for each communications medium you need to ask: why am I doing this? If you cannot answer this quickly and clearly, then it might not be the right communications vehicle for your business. Consider also what you want to achieve with each medium.

Step 6 – Budget & Cash Flow

So we’re down to the most painful part, what’s it going to cost? My advice here is to look at your annual cash flow projection i.e. what you expect to turnover in the first year. Once you have this figure in mind you can identify the percentage of your turnover you want to reinvest in your business. It might typically be anything between 1-10%, but each business is different.

Remember that marketing is an investment in your businesses success and not just an expense.

Step 6 (and a half) – Getting Buy-in from your Team

The final step is probably the most difficult of them all, but it’s crucial. Present your plan to your employees, family, friends and anyone who has an interest in the success of your business. This will help you to generate support and to keep you motivated.

Don’t forget, your marketing plan should be kept on your desk and reviewed periodically, at the very least once a quarter. If you are going to take the effort to write a plan you might as well use it effectively.

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Internet Book Marketing-3 Tools That Practically Sell Your Book Themselves

Jun 24 2023 Published by admin under Uncategorized

Looking for internet book marketing tools that are practically hands free? Add these three tools to your arsenal and you’ll be certain to sell your book.

Internet Book Marketing Tool # 1 Website Marketing

Possibly the most critical tool for a self published author is your website. A well optimized web site, meaning that people searching for your information can find it quickly and easily via the search engines like Google or Yahoo, means targeted traffic and customers are led directly to your book.

A well written landing page that captures email addresses and sells your information can sell thousands of books. Add a few pages of free content that provide immediate benefit to your reader and credibility to your status as an author and you’re well on your way to becoming a ‘profitable’ self published author.

As a self published author, your website can offer a variety of pages to their visitor including:

o Ezine/newsletter subscription

o Free Articles and/or short stories

o Bio

o Sales page

o Links to stores

o Shopping cart to purchase directly from the website

o List of appearances/promotions

Internet Book Marketing Tool # 2 Ezine Marketing Magic

Ezine marketing is not only a great way to build your opt in list, it is a fantastic tool to sell your book, your information products, and any affiliate products that you choose to endorse. Additionally, it provides you with a constant means of communication to your target market and the ability to provide them with quality information that will benefit their lives. The time saving aspect of this tool is that you don’t have to struggle to come up with content. You’ve already written your book. Pull one or two useful paragraphs from your book, round it out, and you have an ezine article!

In addition to publishing your own ezine you can contribute to other relevant ezines, just make sure that you provide a link back to your own website and product line. You can also purchase inexpensive ad space in relevant ezines to market your book. For example, if your book is a small business book, you can purchase ad space in other small business newsletters and link directly to your website.

Internet Book Marketing Tool # 3 Rave Reviews

Reviews are the proof to others that your book is worth the money it costs. Reviews can be used in your publicity package, in your press release, on your book’s back cover, on your website, and even on your business card. They are a valuable and economic expert marketing tool. Visit our website or click on the following link to learn more about secrets to getting rave reviews.

Internet book marketing doesn’t have to be an all consuming struggle. It’s true that the more time you spend marketing your book, the more you’re going to sell. But why not use a few tried and true marketing tools that drive traffic and sales to your book with little or no work from you?

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Secrets to Affiliate Millionaires – 3 Best Practices to Your Success in Affiliate Marketing Business

Jun 24 2023 Published by admin under Uncategorized

Within this article, you will discover and learn the best practices to ensure that you can boost skyrocket your affiliate commission and grow your affiliate marketing business in the right way. With those best practices for affiliates, they can definitely help you to ensure that you can earn money quick from new products, cost-per-action (CPA) program and mailing list.

There are many approaches and practices to success in the home based affiliate marketing business. You will discover and learn the best practices for maximizing your profits and earning top affiliate commission on the internet through PPC online advertising search engines (e.g. Google Adwords, Overture and MSNAdCenter). Those practices have been proven that they can help you to build, run and grow your affiliate marketing business online. Also, your affiliate commission will be increased dramatically with those best practices in long term.

Best Practice for Affiliates #1: Advertising and Testing New Affiliate Products

Obviously, there are many affiliate products on the internet. There are a lot of affiliate marketing entrepreneurs on the internet as well. However, one of the best practices to choose the lucrative affiliate products is to test promoting new products. There are a lot of new affiliate products online as well. The reason why you should test advertising new products is to study the feasibility of selling those new products to your market. It is a great idea to know exactly how the new products work for your market before marketing seriously and extensively later. The best practice for testing and advertising new affiliate products is to promote those new products through PPC online advertising search engines (e.g. Google Adwords, Overture and MSNAdCenter). You can start driving traffic and promoting those new affiliate products with their product name, company name and benefits in PPC search engines. It is the most quickest and easiest to test those new ones to your markets.

The secrets to affiliate millionaires are to: (1) choose new affiliate products in your market (2) generate directly a big list of keywords related to those new products and (3) start promoting those new products in PPC search engines through their product name, company name and benefits.

Best Practice for Affiliates #2: Earn Quick Affiliate Commission

Many studies and experiences reveal that cost-per-action (CPA) program is another alternative ways for affiliate marketing entrepreneurs to earn quick affiliate commission. It has a very effective landing page with a high conversion rate. The best practice to earn quick and easy affiliate commission is to promote directly those CPA programs through PPC online advertising. You can drive traffic directly to those CPA programs to earn quick money on the internet. Many experiments show that there are a lot of opportunities for you to earn big and quick affiliate commission with CPA programs and PPC online advertising search engines (e.g. Google Adwords, Overture and MSNAdCenter).

The secrets to affiliate millionaires are to: (1) choose the high payout and conversion rate CPA program from reliable CPA network and (2) start promoting those programs online with multiple PPC search engines.

Best Practice for Affiliates #3: Build Your Mailing List

Earning more affiliate commission from your mailing list has been proven that it is the most effective way to earn big and quick affiliate commission on the internet. The best practice to build quick and big mailing list is to promote your subscription or mailing list through PPC search engines. However, the highest recommendation for the best practice is to consolidate your content and subscription list into one web page only.

The secrets to affiliate millionaires are to: (1) build high conversion rate of squeeze page or subscription list and (2) ensure that your visitors know what you want them to do in your squeeze page.

Final thoughts, there are a lot of practices for affiliate marketing entrepreneurs to build, run and grow the home based affiliate marketing business. However, you have learnt the best practices for your home based affiliate marketing to ensure that you can boost skyrocket your affiliate commission and grow your business. With those practices and PPC online search engines, you can test new affiliate products, earn quick affiliate commission with CPA programs and build your mailing list.

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Increase Your Value and Explode Sales Through Niche Internet Marketing

Jun 24 2023 Published by admin under Uncategorized

Lose Sales When You Market to “Everybody” When I ask my clients who they are marketing to, I often hear “everybody.” Even though you can provide products and services to a general population, it is not a good idea to direct your marketing to everyone. The more you can define your target market and target market to niche groups, the more likely you are to be successful. Marketing to one or more niche groups is not just for Internet marketing but for all of your marketing.

When you focus on one or more select populations through niche marketing, it makes you more valuable to these groups. They will pay more because they perceive you to be the expert that knows exactly how to solve their problems. Even though you do the same thing for them as you do for everyone else, your marketing is directed to them and their particular needs.

Let say for example that you are a financial planner and you’re targeting people in the Baby Boomer generation – ages mid 30s to 60s. You could make your market more niche by targeting female executive Baby Boomers. Even though your service stays the same, all of your marketing would be specific to female executives. This makes you more valuable and will help you to drive more business to you – people who will pay higher fees and generally be better quality clients.

How to Reach Your Niche Target Market Once you determine the niche market or markets that you wish to attract, find out what associations they belong to and what publications they receive. Find out what online newsgroups subscribe to and e-zines that attract this market. Consider joining their associations and advertising in publications they receive, both online and through the mail. Offer free tele-classes and submit articles to their publications.

Become an Expert to your Niche Target Market and Explode Your Sales Advertising can work but what really drives business to you is free publicity. I’m talking about the publicity you receive when you become known as an expert in the eyes of your niche market. This is not nearly as difficult as you think it is. It does however, require a commitment to do some things that you don’t ordinarily do – things that most of your competition does not do. This is what gives you a dramatic marketing edge!

When you submit articles to your target market’s online and offline publications and solve their problems, you become regarded as an expert. It’s that simple. Your articles cannot be a sales pitch. You should not even mention your company and what you do. Your articles should specifically address the problems that this market has and how to solve those problems. It doesn’t matter that their problems are the same problems that everyone else has. Focus your article on them as if it is their unique problem. Your resource box at the end of the article is where you promote yourself along with your contact information – this is your golden opportunity to include the name of your e-zine, how to subscribe and a special incentive for joining your list. It is critical that you have an effective website to send them to. Make sure that when they go to your website, the form to join your list is on every page -close to the top right is best.

By getting your articles in front of your target market, you have an incredible advantage. You have just given this audience something they desperately need and convinced them that you know how to solve their problem. You just established rapport and trust with them. They don’t have to wonder anymore, who they should choose. Now you need to take it one step further.

Another great strategy for becoming known as an expert is to advertise free tele-classes to your niche market. You can get 100 people on a bridge line for free that allows you to make a powerful connection, establishing your credibility and interest in helping them solve their problems. Use this opportunity to educate and get them to join your list. Mention how you can help them at the end of the call. The best call to action is to ask them to go to your website right now and join your list. Getting in front of this captive market again and again is worth much more than making a single sale.

Publishing Your Own E-zine Makes you an Expert and Makes you Money You are an expert in your business. When you publish your own e-zine, people in your niche target market get to know what you know and they value your expertise and willingness to help them. Don’t worry about your competition finding out your secrets. If you are the first to do this (and there is always a way to be the first or set yourself apart), this makes you the leader – and the leader is always regarded as the best. Your e-zine can be the stepping stone to all kinds of opportunities for free exposure – opportunities that are free and much more effective than any ad can ever be. I’m talking about television and radio interviews, articles in newspapers and in magazines that attract your market. Think of the cost savings when you can slash your advertising budget. This is the kind of Internet marketing and direct marketing that will exponentially grow your income!

You Don’t Need to Be a Writer to Publish Your Own E-zine Don’t worry that you are not an expert in copy writing. And don’t let your ego interfere with the success of your articles and e-zine. What I have found is that many people who think they are great writers, are not effective at writing copy that gets read and gets results. Articles must have effective headlines, sub-headlines and a combination of stories and facts. They should interrupt, engage, educate and end with a call to action, just as a sales letter does. They should also be free of spelling and grammatical errors. Your articles and e-zine can be responsible for $10,000 – $250,000 or more in monthly revenue. Would it be worth it to pay a professional to maximize the results you get? Think of it as an investment in marketing your business. And with the money you save in advertising costs, you can easily pay someone to write your copy and even publish your e-zine and submit your articles.

I know that you have always done what your competition does, even if it doesn’t work that well. What I’m suggesting that you do is to change the way you think and to change what you do. It’s all about thinking outside the box. If you want to increase your market share, the smart way to do that is to set yourself apart by becoming known as an expert to a niche target market. Reaching your niche market through ezine publishing is by far the most effective Internet marketing strategy to implement. Not only that, it will drastically cut your advertising costs while escalating your sales. Niche target marketing will change your business and change your life.

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