IR35 Tax Legislation Is Coming. Does It Apply to All UK Businesses?

IR35 Tax Legislation Is Coming. Does It Apply to All UK Businesses?

It comes as no surprise that HMRC in the UK is taking action on regulating the arrangements with independent contractors. With prolonged furloughs and the insecurity surrounding BREXIT, more and more UK-based businesses are shifting to contingent workforce and prefer independent contractors versus hiring full-time employees.

However, there is a thin line between classifying a worker as an independent contractor instead of as an employee, especially when it comes to hiring remote teams. IR 35 is supposed to shed light and introduce a set of more clear rules for businesses to follow.

Who is an IR35 independent contractor?

IR35 is also called intermediaries’ legislation. It was introduced in the year 2000. This legislation is designed to lower tax avoidance by freelance contractors who HMRC views as “disguised employees.”

To understand the rule, you need to understand the difference between an employee and an independent contractor. In some cases, a contingent workforce comprises full-time employees in substance as they work out of the premises of the employer, use equipment that belongs to the employer and their working hours or the so-called ” time in and out”  is in line with the policies that apply to the full-time employees of the employer. However, instead of being on payroll aka Pay As You Earn, these workers bill for their services through their limited firms. Needless to say, this approach increases the tax efficiency for all sides involved in the working arrangement.

The majority of sole trader limited firms operating in the UK rely on arrangements involving independent contractors to save themselves from providing employment benefits and lower the tax burden.

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Crunch Sales Manager Ben Schaefer gives you a run-down of what personal service companies and contractors need to know about IR35, including the upcoming changes in April 2021. The changes were originally due to come in in April 2020 but were delayed by 12 months. Need more IR35 advice?: https://crch.co/2sXH9Op —————————————————————————————————————- Crunch delivers accounting and financial services to empower the self-employed and small business owners: https://www.crunch.co.uk Like Crunch on Facebook: https://www.facebook.com/crunchaccoun… Follow Crunch on Twitter: https://twitter.com/TeamCrunch

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To deal with this prevalent issue, IR35 legislation is designed to ensure that those independent contractors who deliver their services through limited companies doing the same work as the full-time employees employed by the same business, will be classified as employees and pay the same income tax rate and National Insurance contributions as those employees that are on Pay As You Earn.

HMRC inspectors may apply an employment test on a case-by-case basis based on the working practices and the substance of the working arrangement, instead of on the contractual terms and the language used in the respective contract signed by and between the parties. Put simply, stating that the provider of services is an independent contractor is not sufficient to classify the arrangement out of IR35.

Moreover, on top of the proper classification of their workforce, UK-based businesses need to address the billing and payment needs of their contingent workforce.

Remote working arrangements are even more complex as UK citizens and foreigners having a fully settled status in the UK may be working overseas due to Covid-19 lockdowns in the UK. The increased administrative burden has pushed many HR managers to look for software solutions like the UK-based Transformify FMS that helps businesses fully automate billing and payouts to 184 countries ensuring that both independent contractors and their employers are in compliance with the applicable legislation. With the UK leaving the EU, most independent contractors are in confusion as to whether they need to charge VAT, if the invoices they issue are in compliance with the tax legislation, etc. Here’s a rundown of things to keep in mind.

IR35 rules

A contract may be ” inside IR35” or ” outside of ‘IR35” depending on the arrangement. If a contract is deemed to be ”inside IR35,”  the worker is to be classified as an employee and subject to the same National Insurance and income tax burden.

On the contrary, if the contract is considered to be ”outside of IR35,” the worker is classified as an off-payroll independent contractor.

Mutuality of obligation

Working as a self-employed contractor implies that an employee can work on a project basis without any obligation to keep working for the client once the respective contract terminates.

In the same way, clients also do not have any obligation to keep offering contracts when the existing project is completed. A client and an independent contractor will fall ”inside IR35 contract” if the client has to compulsorily offer paid work to the contractor, the pay rate is not directly related to the work that has actually been delivered, there are no clear deliverables and KPIs, the independent contractor is entitled to employment benefits like paid sick leave and annual paid leave, uses equipment provided by the client, the client has the right to control the time in and out and the number of hours the independent contractor spends on each task, etc.

There is another condition under IR35 that allows independent contractors to sub-contract their work and work for multiple clients at once. That said if an agreement stipulates that the independent contractor has no right to sub-contract or undertake other clients, unambiguously the independent contractor will be classified as an employee.

Substitution

If a contract clearly stipulates that the independent contractor has to be present throughout the project and work out of the premises of the client, then also this kind of work relationship comes under the spectrum of “inside IR35″ rules. If a substitute worker can replace the previously appointed independent contractor and deliver the work specified in the contract, then the arrangement is likely to be classified as ”out of IR35.”

Supervision, Direction, Control

Another condition where the contract fails to fall within IR35 is when contractors clearly demonstrate that they have control over the methodology applied to accomplish the work.

On the other hand, if the client decides on the working patterns and controls the way the project has to be completed, then such a contract is very likely to be classified as ”inside IR35″ and the worker is to be classified as an employee, not as an independent contractor.

The Equipment Used

If the client provides tools or equipment to complete the work on a contract, and the independent contractors uses the equipment only to complete the work for this particular client and can not use it to deliver work to other clients, then HMRC may view such arrangement as a ”disguised employee” and insist on classifying the independent contractor as an employee. In most cases, making it clear at the pre-contract stages that independent contractors will use their own equipment and software licenses where applicable, to complete the project will keep the arrangement outside of IR35 if all other requirements have been satisfied.

Financial Risk

Self-employed independent contractors are more likely to experience a higher level of financial risk as compared to an employee. The financial risk arises from the need to invest money into the daily execution of the business. If the work delivered to the client seems to be substandard or faulty, then the independent contractors often need to spend more time and invest additional resources to address the quality requirements at their own expense.

Consequences of Misclassifying IR35 Contractors

If a contract falls within IR35 rules, then the independent contractor is to be classified as an employee. In other words, the parties may be accountable to pay the unsettled additional income tax along with National Insurance contributions.

Private-sector employers who hire independent contractors will be accountable to determine their IR35 status. As this is seen as an administrative burden by lots of businesses, many SMEs prefer to outsource the task to companies specializing in off-payroll arrangements.

HMRC can go back in time to determine whether or not IR35 applies to previous work that the independent contractor has carried out. In case that a particular arrangement is classified within the scope of IR35, HMRC may request additional income tax and National Insurance contributions to be paid along with interest and penalties.

To save business owners from the financial consequences of misclassifying IR35 independent contractors, it becomes essential to run an IR35 test each time a new arrangement is negotiated.

Determination of employment status has always been a tricky decision for many businesses. Yet, there are a few simple ways to ensure that they are in compliance with IR35 rules:

Take the IR35 test

Figure out whether the arrangement is are present ‘outside’ or ‘inside’ IR35. This can be done by taking the HMRC IR35 test for the assessment of the existing work practices.

Review the existing practices

Once you have the results of the HMRC test, you should carry out an audit of the existing work practices. It is important to see how IR35 impacts the way a company carries out its daily business. This analysis will help solve a wide range of potential issues.

Seek an expert opinion

Before you make any modifications in the way you conduct your business, it is beneficial to seek advice from law experts. Ensure that the changes you are planning to introduce comply with IR35 and other related regulatory requirements. There are many nuances and industry specifics that are to be considered on a case-by-case basis.

The impact and benefits of IR35 rules are still yet to be seen in the private sector. However, familiarizing yourself with  IR35 rules and their impact on the public sector can result in many advantages for your business.

 

Lilia Stoyanov

Entrepreneur Leadership Network VIP

Source: IR35 Tax Legislation Is Coming. Does It Apply to All UK Businesses?

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How Exactly Does Content Marketing Help in Building Brand Awareness

Brand awareness is more than people simply recognizing your business name or your logo.True brand awareness entails your audience getting to know the personality behind your brand and what makes you different from your competitors.

It’s vital to build brand awareness because consumers are much more likely to buy from a brand they know and trust than one that’s new to them.A research study found that over 80% of people searching for a product on Google chose to click on websites they were already familiar with, regardless of their position in the results.

Content marketing can be a highly effective way to build brand awareness. With every piece of branded content an individual sees, they become more familiar with your brand. But while exposure is important, it’s not the only factor at play. Content can help to build your brand in several different ways.

Quick Takeaways

  • Content marketing is an excellent way to demonstrate knowledge and expertise and build trust with your audience.
  • The more content you publish, the more exposure you give your brand. Every piece of content has the potential to widen your audience.
  • Your content is an important part of your overall brand and can be used to amplify your brand voice and reinforce your commitment to your brand values.

1. Demonstrating Authority and Expertise

By regularly publishing informative and educational content that helps to solve your audience’s problems, you demonstrate the fact that you know what you’re talking about as an expert in your industry.

For example, take a look at the blog published by marketing and CRM software company, HubSpot. HubSpot publishes a lot of detailed and useful articles on subjects such as content marketing, web design, email marketing, SEO, and customer experience.

Most of these articles are not written with the aim of selling more software licenses. Nor, indeed do they even mention the products and services that the company sells.

This informational content is not published with the aim of making more sales, but rather to share knowledge and cement HubSpot’s position as an authority in the area of digital marketing.

The audience reading HubSpot’s blog may not immediately be looking for a marketing software solution. However, with each piece of content they read, they’ll build a stronger association between the HubSpot brand and marketing knowledge.

If at some point in the future they are in the market for a CRM or marketing automation software, they’ll already have HubSpot in mind and be confident in the brand’s experience and knowledge.

2. Building Trust

Consistently publishing helpful information for your audience not only helps to demonstrate your expertise and authority but is also vital for gaining the trust of your target audience.

People don’t like to feel like they’re being sold to or that brands only have an interest in gaining their business.

Content marketing means publishing content that’s not sales focused and demonstrates you care about your audience and their problems, rather than just making the sale.

The more content your audience reads and the better they get to know your brand, the more likely they will be to trust you. The more they trust you, the more likely they are to spend money with you in the future.

Source: Marketing Charts

3. Fleshing Out Your Brand Personality

Many brands offer very similar products and services, often at similar prices. Your brand personality is what distinguishes you from your competitors and builds relationships and loyalty with your customers.

Your content should reflect your brand values and mission. It should demonstrate what you offer beyond the products and services you sell.

Every piece of content you publish should also reflect your brand tone and voice. Whether this is fun and friendly, creative and quirky, or confident and informative depends on your audience, the industry you’re in, and how you want to position your brand.

Source: EndeavorCreative

To get this all right, it’s important to have a clear and defined brand, mission, value, voice, and content strategy that pulls it all together. Skipping over any of these steps will result in content that doesn’t have a clear voice or personality, and your brand will be weakened as a result.

4. Increasing Brand Exposure and Mentions

Every piece of content you publish gives you a new opportunity to expand your audience and reach more eyes.

Publishing content around the topics that your audience and customers are interested in is a highly effective way to boost your SEO. This means your site is more likely to come up in searches for keywords related to your business. The more content you publish, the more chances you have of showing up in search results.

Source: Oracle Modern Marketing Blog

Good content can help you to attract traffic from many other sources apart from search engines.

People share high-quality content on social media. Social media mentions are doubly effective because they not only help you to reach a wider audience, but a social share acts as a vote of confidence and demonstrates that others trust in your brand too.

This is increasingly important these days where 83% of consumers say they are more likely to buy a product or service if it is recommended by a friend or family member.

5. Building Customer Loyalty

Content marketing is not only important for attracting new customers but also to keep the customers you already have.

Strengthening relationships with your customers is also important for building your brand. When customers are loyal to your brand, they are more likely to recommend it to others.

Consistently publishing new content is a great way to stay in touch with your existing customers, keep your brand on their mind, and give them more opportunities to share your content and products with others.

6. Engaging Your Audience with Brand Storytelling

Everyone loves a good story. So it’s no surprise that much of the most successful content on the web involves some element of storytelling.

Likewise, some of the world’s most successful brands have a great story behind them. Just look at Apple (founded by college dropouts out of a garage) or Toms shoes (inspired by the travels of the founder and the barefoot children he met along the way).

If you can use content to tell the story of your brand in an engaging way, you’ll build an emotional connection with your audience that will make them want to read more, interact more, and buy more from your brand.

If you are ready to get more traffic to your site with quality content published consistently, check out our Content Builder Service.

Set up a quick consultation, and I’ll send you a free PDF version of my books. Get started today–and generate more traffic and leads for your business.

By Michael Brenner

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Marketing Insider Group

The Marketing Insider Group provides content marketing workshops and content development services. Scale your content and start showing Content Marketing ROI today. Free Consultation

Services

Hinge

The number one criteria prospective clients use when they’re selecting a firm is expertise. In this video, Liz Harr shares the top 3 ways to demonstrate your expertise for greater visibility and marketplace reputation. For more content just like this, connect with Liz & Hinge: LinkedIn: https://www.linkedin.com/in/eharr/ Twitter: https://twitter.com/ElizHarr LinkedIn: https://www.linkedin.com/company/153024/ Twitter: https://twitter.com/HingeMarketing Facebook: https://www.facebook.com/HingeMarketing Professional Services Executive Forum: https://www.linkedin.com/groups/3828540

Market Alignment With Segmentation and Differentiation

This is the second in an exclusive series of articles from Total Alignment authors Riaz Khadem and Linda Khadem titled “The Alignment Factor.” Check back in every Thursday for new installments. 

Businesses small and large are being impacted by the pandemic, and entrepreneurs are not immune. In order to survive and prosper during these difficult times, it might be necessary to reinvest in your business concept and redesign your offerings.

As a successful entrepreneur, you have been aligned with your market, but are you still aligned? Do your customers need the same things as before, with the same mode of delivery? For example, imagine a previously successful restaurant that has lost its customers during the pandemic. Does the owner truly understand the current needs of his customers beyond the menu it used to offer or the ambiance it had created before? 

Related: The Alignment Factor’: The Keys to Internal Alignment

What Is Market Segmentation?

In a nutshell, it’s grouping heterogenous people into homogeneous groups, or segments, by some criteria related to their needs. By defining a segment and focusing on the needs of that segment, and aligning products or services with those needs, you have taken steps toward market alignment. The key characteristics of a market segment could be similar customer needs or preferences. In a company with multiple locations, a segment will likely account for geography, demography and choices people make, the type of services they value and the quality they expect. In a smaller company, it could be a subset of these criteria.

Let’s look again at restaurants. Assuming the wearing of masks is a pretty universal requirement, the first pressing issue for owners is how to proceed over the next few months. Should the restaurant continue to offer inside dining? If so, how do you protect the customers? Usually, this is met by distancing the tables farther apart, requiring the servers to wear masks and hopefully the kitchen staff to wear masks and gloves. But what about the substantial number of people who now want to-go meals? Should they be forced to walk into a restaurant where people are eating (obviously without masks) to pick up the food? Or, more conveniently, can the restaurant offer to bring the food to the car? What about payment? Does the customer need to enter the dining room and present his credit card? Or can they pay over the phone or on the website when ordering?

These issues are not unsolvable, yet many restaurants seem unable to adapt. Perhaps it is a rigidity in the way the owners see their establishments and an unwillingness to re-evaluate the new needs of the market segment they were serving. It’s crucial to re-evaluate your customers and perhaps re-segment your market in line with the new reality. Otherwise, precious resources can be wasted on activities that are no longer in alignment. Flexibility and creativity at this juncture can mean the difference between success and failure.

What Is Differentiation?

After re-defining your market segments, you will have to identify what is important to customers in a segment likely to buy your product. Value drivers could be cost, quality, features, safety, buying experience, after-sale support, etc. In a restaurant, they could include the cost of items on the menu, the quality of the food (e.g. organic or not; using meat and poultry and sea food from sources that care for the animals well in a healthy environment), the variety in the menu, safety in the process of acquiring the food and eating, the restaurant experience and treatment received after the service is completed.

For each segment, evaluate the importance to the customers of each appropriatevalue driver on a scale of low to medium to high. For example, quality might be high for a segment while cost is a medium. Safety could be high, and follow-up support could be low. The evaluation should be based on data, not just opinion. You may need to use customer surveys to hear the voice of the customer.

Next, evaluate the same value drivers in terms of how your offering is different from your competitors. For example, is the quality you offer significantly better than your competitors? Is the cost you offer substantially lower than your competitors? Are the features you offer unique to you and unavailable to the customer from other suppliers? As you evaluate your value drivers, you can assign a low, medium or high rating to each. For example, if your value driver is features, and you offer unique features no one else is providing, your differentiation would be high. If everyone offers the same features, then your differentiation is low. Again, the evaluation should be based on data. 

After evaluating your differentiation on each of the value drivers, you have a set of two evaluations for each one: The first is how important the value driver is to the customer in a segment, and the second is the differentiation of that value driver from your competitors. You can plot the two evaluations on a two-dimensional grid, the scale being low, medium and high on both axes

The value drivers that fall in the (High:High) category should become your primary focus, both in terms of the message you send to the customers in that segment and in terms of making absolutely sure that those value drivers are perceived by your customers as you promised — or even better. For example, if quality and safety have been evaluated as (High:High), your resources should be directed toward making sure your customers are aware of your differentiation and that your quality and safety are, in fact, at the highest possible levels.

Strategies for Each Segment

Your market segments don’t all deserves the same attention. You could close out some segments and put your investment into others, especially during these challenging times. As entrepreneurs, you will have a preference based on emotional attachments. This is dangerous, as your pet offering might not be appropriate for all segments. Having re-segmented your market during this pandemic, you are in a position to decide where to put your energies and investment. You will have to choose the segments to grow, those that could stay at the same level of growth and those you should exit.

How do you make such decisions? There are guides in the management literature to help you do this. Essentially, for each segment, you perform a two-fold evaluation: How strong is your segment compared to your strongest competitor in terms of the internal processes that deliver value to the customer? And how attractive is the segment to an investor?

If you are much stronger than your strongest competitor, then your strength in that segment would be high. If you are at the same level as your strongest competitor, your strength would be medium, and if you are weaker than your strongest competitor, your evaluation in that segment would be low.

As for market attractiveness, you will have to evaluate whether the market in a segment is extremely favorable, (considering a set of external criteria) or not. The external criteria could include the size of the market, the growth of the market and the profitability of the market. If the market segment is favorable, then the evaluation for that segment would be high. Otherwise, it could be medium or low. The value of this exercise is that it will enable you to see the relative position of your different segments compared to each other.

The segment with high strength and high market attractiveness (High:High) is the one that deserves your attention the most, and the segment that has low strength and low attractiveness (Low:Low) can be divested unless it provides input into an attractive segment. Other segments will require appropriate strategies based on their evaluation.

Related: The One System That Changes Employees’ Behavior

Strategic Mindset

The strategic mindset we are proposing in this article will help you arrive at a set of strategies appropriate to each of your market segments. To develop a strategy, you need to have identified your market segments, differentiation and the relative position of your segments on the business strength/market attractiveness continuum.

Choosing where to put your time and investment will be key to your survival and growth, enabling you to make sound decisions and use your precious financial and human resources to deliver maximum value to your customers.

By: Riaz Khadem and Linda Khadem Business Strategy Experts

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tutor2u 112K subscribers The STP (segmentation, targeting & positioning) model of marketing is outlined in this revision video. #alevelbusiness#businessrevision#aqabusiness#tutor2ubusiness#alevels#edexcelbusiness#businessalevel

https://www.tutor2u.net/business/reference/market-segmentation

If Your Marketing Plan Doesn’t Have These 5 Components It’s Doomed

When you want a new car, building one from scratch doesn’t figure high on the list of options. You’d need to be a serious expert mechanic to source all the different parts and put them together correctly, and even then, it would take a massive investment of time and energy.

Yet that’s effectively the scenario that marketing departments around the world have found themselves in. Modern marketers are living in an ever more complex environment, with more channels, more content, more touchpoints, and more tools than ever before. At the same time, marketing leaders are under more pressure than ever to drive real results and demonstrate their impact on the business.

Related: 3 Ways Your Small Business Can Pivot Toward Focusing More on Hispanic Consumers

The response of most marketing departments over time has been to reach for a grab bag of different solutions to address individual pain points. They might buy some analytical tools to get better reports, or workflow tools to tackle inefficient processes or institute quarterly off-site meetings to plot campaign strategy. And they can choose between around 8,000 different marketing technology tools on the market.

The problem is that these solutions only address parts of the marketing challenge, not the whole. Analytical tools are no use without data to build the reports, and those workflow tools and offsite meetings will be ineffective without a system that monitors the progress of campaigns and creates accountability around them.   

The two biggest pain points that top marketing executives consistently cite are a lack of visibility into campaign effectiveness, and the lengthy time it takes to get campaigns up and running.

Visibility is obscured by the multiple functions — more than 20 in big marketing departments — that specialize in different parts of the marketing puzzle. Speed to market is slowed by inefficient workflows and processes, leading to an average time of 12 weeks from campaign ideation to activation, according to a recent Sirkin Research report that we commissioned. Too many marketers still spend the bulk of their time writing emails, composing PowerPoints, and having meetings about meetings rather than doing the actual work of marketing.

When you ask marketers at big firms about their pain points, the gap between the dream and reality becomes starkly clear. In a survey of over 300 marketing leaders at large firms, we found some 88% of respondents said that easily consolidating and reporting on campaign effectiveness is important, but only 24% said they are able to do so well or very well.https://tpc.googlesyndication.com/safeframe/1-0-37/html/container.html

Again, 88% of leaders said that speeding up campaigns across channels is important, while just 37% said they’ve been able to do so well, with the COVID pandemic adding significantly to that challenge. Big gaps between importance and reality also showed up in the interoperability of martech, the ease of managing content and campaigns, and aligning strategy to budgeting and plans, as well, according to the research.

Related: How to Know If Your Company Needs a B2B Marketing Agency

While there are individual tools that might help fix those issues, the problems won’t be fundamentally solved without an orchestrated approach. In today’s marketing world, where technology is driving the collapse and convergence of traditional silos, firms need a holistic, orchestrated approach to execute more efficiently and drive results.

To return to the car analogy, your vehicle won’t get very far unless the wheels, engine, steering wheel, and brakes are working in harmony.

Drawing on the experience of the most successful marketing leaders, it’s possible to identify the five necessary pillars of an orchestrated approach.

Team collaboration

It’s vital to have a team that collaborates well, with clear workflows and visibility into what is being done. It’s important to know what’s on track, what’s behind schedule and where the bottlenecks are.

Content

The importance and quantity of content mean that it is still king in marketing, whether it’s aimed at enabling sales or for demand generation programs. Collaboration needs to happen around content as well as in teams. Governance of the content, whether brand or legal compliance, needs to be incorporated into the workflows in order to keeps content flowing.

Channels

Content has no value unless it’s being pushed somewhere, whether that is through websites, social media channels, or to your sales team. Transitioning seamlessly from the orchestration of content to the orchestration of channel distribution is a critical component of marketing orchestration.

Related: Ocean Spray Gifts Longboarder a Truck After TikTok Video Goes Viral

Integration

Good integration at the planning, team, and campaign execution levels is essential to a successful orchestrated approach. This encompasses proper integration of the crowded marketing technology stack, which can cause kinks in execution when poorly integrated.

Data

If content is king, then data is now the queen of marketing. Good data is essential across all the pillars of orchestration to acquire visibility into how campaigns, content, and teams are working.  

If any of these elements break down, the whole marketing operation is going to be hobbled. Conversely, if they are all performing well and being orchestrated effectively it empowers marketing teams to close those huge gaps between priorities and reality that show up in surveys. Marketing leaders also get what they want – to be able to do their planning on the front end, navigate accordingly as things change, and report back effectively on the back end.

Technology may be the biggest enabler of this change, but it doesn’t describe the approach. The approach is orchestration, and it’s the only real way for modern marketing teams to navigate the growing complexity they face and to drive better results.

By: Matt Malanga Entrepreneur Leadership Network VIP

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If you want to ask me further questions, or if these video’s are just valuable enough for you to thank me in a different way than the usual ‘thumbs up’, consider to become a Patron of me. You find the link here: https://www.patreon.com/chiefpep Thanks!

These are the 6 steps often used in my webinars of strategic marketing planning. Every strategic marketing model has a place in one of these steps. Make sure you know where a model belongs to not make any mistakes. Have a look at my webinars concerning these models: Michael Porter’s Generic Strategies explained: https://youtu.be/Nz53CopmFig Treacy & Wiersema’s Value strategies explained: https://youtu.be/NtuArGXUP9Y Ansoff’s growth matrix explained: https://youtu.be/htp5YTvIymQ Blue Ocean Strategy: https://youtu.be/sBftiA7wmt4 The Value Chain of Porter explained: https://youtu.be/aERoUQwvQyk Michael Porter’s 5 Forces model explained: https://youtu.be/33XmkfbzwO8 The BCG Model explained: https://youtu.be/tKO5TpR2UwE 7S model of McKinsey: https://youtu.be/yGceFEDmtIM SWOT Analysis explained: https://youtu.be/bunYnEGaEvs Abell’s Business Definition explained: https://youtu.be/pzKymyGLaBg MABA Portfolio analysis explained: https://youtu.be/dWWg2dPSfgI Please subscribe to my channel for future webinars and like this video if it is valuable for you! You can also leave your comments or requests in the section below to ask for any other models which you would like to have explained in a webinar.

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Account-Based Marketing Isn’t Going Away Here’s Why

In 2019, George Debb, managing partner at Red Rocket Venture,s extolled the virtues of account-based marketing, writing, “If you are not using ABM marketing techniques today, you probably should reassess your entire B2B sales and marketing strategy and execution efforts.” 

Twelve months and one global health crisis later, the statement continues to ring true — and with even more intensity. When Debb wrote the article, “The Rise of Account-Based Marketing,” he couldn’t foresee a future in which in-person meetings, quick conversations over coffee, and industry tradeshows were nonexistent. This future didn’t rely on Zoom calls to communicate services and discuss the reasons a certain product outperforms another. Yet here we are. Adaptation is a must for survival, and account-based marketing is the path B2B companies must take if they want to find success in a virtual world.

But why the ABM route versus traditional marketing strategies? 

For starters, ABM brings marketing and sales teams in alignment.If there’s one idea even the most unfamiliar with ABM will know, it’s this: An account-focused strategy ensures sales and marketing are always on the same page, as it’s a tactic prioritizing a smaller number of high-value deals.

ABM runs horizontally and vertically within a company; it involves communicating the company’s common goals, sharing all available customer information, and keeping team members updated as an account move down the sales funnel. A coordinated team results in greater brand awareness and higher average deal size. Even before March 2020, this was understood as a universal marketing truth.

Related: 3 Reasons Marketing Is The New Sales

To take it to a more granular level, many account-based marketing platforms provide reporting dashboards that are easily accessible for everyone from sales executives to the C-suite. When all of your account data is in one place, there isn’t any confusion in campaign performance or marketing spend. As Izzie Rivers, Merkle’s Chief Strategy Officer said at LinkedIn’s 2020 I Heart ABM conference, ABM platforms “build that trust between departments so people can see what’s working, what isn’t, and how to pivot.”

Resources are limited, use them wisely

The economy continues to swing; stocks fall, rise, then fall again. “Furlough” and “lay off” became a reality for more than 20 million Americans. And marketing budgets have been slashed across the board. But that doesn’t mean business can stop; it simply means money has to be used sensibly to achieve the best ROI possible. 

Account-based marketing is all about efficiency; in fact, 84 percent of companies using ABM report a higher ROI than other marketing strategies. This is something every CFO—from SaaS to transportation to retail—wants to hear. With ABM, every dollar spent can be accounted for. Every targeted account has been vetted to certify it has the potential to bring in a high-value sale.

The marketing and sales teams have already done the research on the buying committee for a particular company; they know who’s in charge and who will have final signoff on the purchase of a new service or product. They won’t make the mistake of spending money directing content toward a CMO who just recently left that company and hasn’t updated his or her LinkedIn.

And with the right reporting structure, real-time data is delivered to stakeholders, conveying which aspects of the campaign are working and which need to be adjusted based on performance. Account-based marketing campaigns are dynamic—an important trait in a world that changes nearly every day. 

Business is virtual, but strong relationships fuel a longer sales cycle

A virtual world doesn’t mean everyone and everything will move quickly and without hindrance. In actuality, it can be quite the opposite. A one-off email requesting to show a 15-minute demo can easily get lost in an inbox; a faceless phone call on a Friday is forgotten by the following Monday. For businesses with longer sales cycles, this is where nurturing high-value accounts is more important than ever. 

Related: The Two Marketing Meetings with Gary Vaynerchuk That Changed My Life

Account-based marketing is basically the new “wining and dining.” With this marketing strategy, personalized content is the key to engaging an oftentimes complex buying committee. These are the type of deals that aren’t achieved with one email and one click. They require weeks, sometimes months, of increasing awareness and building a trusted connection between the seller and buyer.

And as an account moves from the general awareness stage (“What does this service provide?”) of the buying cycle to the evaluation stage (“Why is this service the best for my company?”) the channels used and content delivered will differ accordingly. For example, delivering a white paper on the merits of your service in the operations space via email marketing is far more interesting to a Director of Ops than it is for a CEO, who is more likely to engage with a podcast interviewing one of her peers. 

Related: How to Know if an Online Marketing Expert is Actually Credible

Nothing is stagnant in the B2B marketing world. New platforms are developed, new strategies are created, new channels are used. But if you want to stay flexible and affect real change for both your customers as well as your sales and marketing teams, account-based marketing remains the best option.

By: Vincent DeCastro / Entrepreneur Leadership Network Contributor

What is “Account Based Marketing”? It’s what I consider a legendary marketing strategy that allows you to laser focus on the Ideal Accounts you want to work with & sign them as clients. I’m talking about “Ideal High-Ticket Clients” Our agency is about to run a “Pilot” targeting 100 Ideal accounts to test this marketing strategy over the next18 months.

Our goal is to sign 5-10% of the 100 accounts in the next 12-18 months ( hopefully sooner ) It’s a long term play. I hope you find this video valuable & let me know your feedback in the comment section below. Some great tools you can use for measuring your ABM campaign success is the following: https://www.engagio.com/

https://www.leadfeeder.com/

https://taylorbenterud.com/case-study

What Content Marketing is NOT

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Before we delve a little deeper into what content marketing is not, we will first answer the question of what content marketing is.

What is Content Marketing?

Content marketing is, “a strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly defined audience”. This is quite different to the usual marketing techniques of pitching services or products – rather, you are producing relevant and useful content for your audience and customers in order solve their problems and answer their questions.Any forward thinking marketer – and businessperson – can see that content is the future of marketing. The difference between content marketing and the other “informational” pieces you see from some companies (read spam!) is that content marketing is useful and targeted – and valuable!Regardless of what marketing tactics you use, content marketing should be an integral part of your process, not a separate element. Content marketing is used in social media marketing, SEO strategies, PPC campaigns, and inbound marketing.

Content Marketing is not (only) storytelling

The common idea about content marketing is that it is “storytelling” – if you reread the definition mentioned above, you will see that storytelling is not mentioned once, and for good reason! The point of a content marketing strategy is to demonstrate the value of your service or product, not just to tell a story effectively. Visitors to your site are drawn to your content not because it tells your brand’s story, but because it builds on theirs. Content is not about sales, but rather it is about perpetuating an idea, and the brand behind that idea. When you build an audience, the idea should inform and intrigue the audience, rather than being a tired and overused sales pitch. However, aspects of storytelling should not be eliminated from your content – using emotions such as happiness, anger or sadness in your content can influence a customer’s actions or drive them to an action, such as purchasing your product or using your service.

What Content Marketing is NOT – Myths Busted!

Although content marketing is not a new concept, there are still a huge number of myths regarding it, from what it is to how easy it is to do (side note – not just anyone can create top tier content), but many of these myths are not true, and below are some of the most common explained and disproved.

It only works for certain businesses

Content marketing is not industry specific – any business can produce content that is relevant, valuable and useful for their audience, once they understand what that means. The most important thing to remember is that content marketing is not about sales, but about promoting the value of your product or service with articles, media and visuals that are relevant and valuable.

It’s just writing, it can’t be that hard!

There is a common belief that content marketing is easy, and that anyone can do it. The reality is that, while the basics of content marketing are easy to handle alone, when you start reaching the more complex issues, it is best to hire a professional. Aside from creating compelling and valuable stories – which is a skill in itself – you will have to deal with the constant creation of content, and there is the fact that the content has to be done well.

Our customers probably aren’t online, and don’t use social media

This is highly unlikely, regardless of your industry. Studies have shown that in South Africa alone, there are 13 million Facebook users, 7.4 million Twitter users and 2.68 million Instagram users – which means that there is a huge pool of people who are online, including your customers!

All content should focus on my business

This is from the older school of marketing, where traditional marketing campaigns spoke at people, rather than with them, like content marketing campaigns. It is vital to avoid content that is too promotional, or reads too much like a sales brochure as this is will reduce the traffic to your site and negatively affect your customer’s experience. The purpose of content marketing is to engage with your audience, so aim to provide valuable content rather than speaking exclusively about your business and products.

Text-based content is enough!

This belief is most common among first time content marketers, and is understandable, as when most people hear the words “content marketing”, they are liable to think of blog posts or articles. However, the industry is changing! While the copy is vital, there is the visual component to consider, (this means more than just a cover image) which can be images or a video. Humans are visual creatures, so including creative and relevant images or videos with your copy can work wonders for your rankings and site traffic.

Text-based content pieces need to be long

While it is true that longer content pieces perform highly, with better rankings and more engagement, is it not always necessary to create long pieces of content – and it could be counterproductive. Shorter content can still rank very well, and it is important to think about a vital aspect before creating that impressive 2000+ word article: your customers. Longer pages work well when you are trying to encourage customers to buy a “big ticket item”, but can overwhelm customers. Rather try out different styles to optimise conversion rates.

Simply creating content means people will find it

It is a common thought process that simply creating the content and putting it onto your business’s site or blog will allow people to find it, but one of the most important steps in your content marketing strategy is to devise a distribution plan of your content. This could (and should) involve syndicating the content onto your social media platforms, which is an effective plan to implement, as it can contribute to higher volumes of site traffic.

We’re too late to the content marketing game!

Never has a statement been more untrue! The world has yet to hit the peak of content marketing, and it remains one of the most effective marketing tools in the industry. If your brand, business or company has yet to use content marketing as part of its strategy, it is not too late to start, and you are sure to find experts who are chomping at the bit to help you implement an effective content marketing strategy.

Why content marketing works

In today’s information age, customers are highly likely to research a product or service before making a purchase or signing up for something, which is why it is vital for businesses to have content that is valuable, relevant and consistent for their customers. This hunger for valuable information is why content marketing works! By using content marketing as part of your business’s marketing strategy, you are building trust between yourself and your customers. One of the major aspects of successful marketing is establish a sense of trust with their consumers, and content marketing is an effective way to do so.

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According to a recent study, owned media (which is the website of a business, the social media profiles and emails) and earned media (reviews and recommendations) are two of the most trusted forms of advertising.One of the major reasons why content marketing works is because it solves problems. People are not searching online for content so that they stumble on an advert or learn something new about a brand – they are looking for content that answers a question or solves a problem. When creating content, be it a blog post, a video or an infographic, try to place yourself in the mind of your consumer, thinking about what they are searching for and what they want to find.

Content marketing is successful because it is backed by data. This data allows you to see what content was popular, which was unsuccessful and what could use a bit of tweaking. You are also able to customise the metrics you use to track your content marketing campaigns, allowing you to see more clearly what needs to be done to achieve your goals or where your brand may need help.The value of content marketing is high, and while it is often said that “content is king”, the customer is the real one in charge when it comes to content marketing. If your brand isn’t implementing a content marketing strategy, it’s not too late to start!

By: Craig Hoggins

Source:https://onlinemarketingguys.co.za

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I am a HUGE believer in content marketing, I think it is THE KEY to growing a business online but what is content marketing? Learn how to put out content that markets your business for you.
Be sure to subscribe for more awesomeness! https://www.youtube.com/jessicastansb… The equipment I used to film this video: http://jessicastansberry.com/my-favor…

Social Media Marketing Counts Workshop With Paul Counts

Paul Counts here and I am so thrilled and excited to tell you about this brand new Marketing Counts workshop called Social Media Marketing Counts. Inside this workshop we dive in and take you over the shoulders as we show you how to get traffic from social media marketing!

You watch me market online via social media channels. We’re going to cover Facebook marketing, Twitter marketing, LinkedIn, Pinterest, and Instagram. So you’re going to learn how to market effectively on the most popular and largest social media channels online. As a bonus, we’re going to teach you how to use Quora as well.

You’re going to watch over our shoulders as we set these up and you’re going to learn the best practices for effectively marketing with social media.

Now this workshop is being created for our Marketing Counts Club students and we’re offering it for you at a discount right now.

What we’re also going to do with this training is we are going to be transcribing this training so you will get the transcription, but we’re going to make it part of a book so we have a lot in mind for this.

  • Watch over my shoulder as I layout in detail how to get traffic from social media!
  • Understand how social media works in 2020!
  • Get the inside look at how real marketing experts use social media to grow.
  • Setup free traffic systems with social media marketing!
  • Limited Time: Resell Rights Bonus Included!
  • Bonus Traffic Checklists
  • Bonus Traffic Copy/Paste Templates
  • Bonus Transcription Included

If you know how to setup proper social media marketing campaigns in 2020 you can achieve unlimited success!

We are so excited for you to learn from us, and also get the chance to resell such a high-quality and robust video course. This is a 2 hour course with transcripts included FREE. It will be sold for more than this price WITHOUT licensing rights!

Just secure your spot now to save big!

 

Source: Social Media Marketing Counts Workshop – Paul Counts and Shreya Banerjee – Marketing Counts — Private Label Rights – Paul Counts

Are You Going to Ignore Voice Marketing or Leverage It To Rake In a Staggering FREE Buyers For Your Business

Getting your content onto Amazon Alexa is equivalent to using Twitter in 2006 or Instagram in 2010. There’s more opportunity available than any one business can handle! Think of Alexa and voice-first marketing as a “land grab” for marketers equivalent to Thomas Jefferson purchasing the Louisiana territory for 3 cents per acre.

Flash briefings are short, informative pieces of recorded audio containing news, tips, advice, round ups or how to information on any topic. Simply ask “Alexa, what’s the news?” or “Alexa, play my Flash Briefings” and your device will play your flash briefings while you’re waking up, having breakfast, taking a shower, or relaxing at home…

without reading blogs, emails, social media or running Google searches! What if you could create your own Flash Briefings and have new listeners (and your current audience) find them in the Alexa App? With your own Alexa channel and Flash Briefing Skills in the Alexa store, people can add it to their device and start receiving your audio content in just hours from now.

If you have a product or service that people want, then Flash Briefings will put you in front of your dream audience, without any of the usual competition.The best part?In addition to educational tips you can inform your listeners about special promotions, affiliate products, daily-deals, and lead them to any webpage to build your list and make money.

The 30 Second Money Tip is a Flash Briefing Skill that previously failed to generate leads as a Podcast and blog. But, it got 100,000 downloads in its first 8 months as a Flash Briefing Skill…

reaching 1000 people a day, in their homes, on autopilot!

In the past, you’d have to pay BUCKETS of cash to reach this number of people on Facebook, Google, LinkedIn or Instagram each day.

It would take you months to build an email list of 1000 people and only 20% of them would even open your emails!

Your rapid shortcut to creating and publishing traffic-getting,
sales-creating Alexa Flash Briefings…

… without any coding, ever! Skilexa is a cloud app that allows you to build an audience using Alexa  faster and easier than ever, with zero coding. Begin uploading content to Skilexa to make into a Flash Briefing to send to Amazon. These can be short, helpful tips in the form of text paragraphs, audio snippets and more. The best part is, you don’t need to create the content from scratch. Curate text or audio from previous blog posts, podcasts, and more using built-in content creation tools inside the app.

Easily double your Google page speed score with this ultimate caching plugin! Page load speed is a CRUCIAL factor when determining how well your page converts and this super easy-to-use software will do just that. Help your clients take advantage of this and get more customers to their business with Facebook reviews and this amazing software.

Source: https://skilexa.co/yes3/?aid=1

Your Marketing Stinks Like Fear That’s Why Your Content is Getting Ignored

Fear is like sex, sweet onions, and a seven-day road trip: Once the stink gets on you, it’s hard to shake. And, when it comes to the marketing strategies used and the content created by most organizations, that stink is so overwhelming it drives their audience toward any alternative that seems even remotely bold.

How do you gauge the influence fear has in your approach to marketing, communications, and content?

It’s relatively simple.

Do you make decisions about marketing, communications, and content based on:

  • Unwritten industry norms?
  • A desire to appeal to every possible audience?
  • A reluctance to be the first?
  • An avoidance of anything remotely controversial or political?
  • A lack of faith in your marketing and communications team?
  • A lack of knowledge about (or worse, judgement of) modern, diverse cultures and generations?
  • The way you’ve always done it?
  • An unwillingness to avoid making anyone angry?
  • A worry that you’ll look, feel, or get called stupid?

If the answer is yes to any of these questions, fear is playing a big role in your marketing and content creation.

Fear can be useful. For example, that guy who made the documentary where he canoodled with grizzly bears before being eaten by a grizzly bear could have used a little more natural fear encoded in his DNA.

But you aren’t canoodling with grizzly bears.

You are running a business.

In business, fear is the fastest road to irrelevancy.

And irrelevancy is failure.

To better understand how fear leads directly to irrelevancy in your marketing and communications, take a broader view of the word “content.” That word means more than just Instagram posts, videos, and blogs.

Content also includes movies, books, music, and art.

Using that definition, think of the content that forms big parts of our shared cultural history. Think Uncle Tom’s Cabin, The Grapes of Wrath, Invisible Man, Star Trek, The Twilight Zone, every Motown record Berry Gordy ever produced, “This Land is Your Land,” every painting Frida Kahlo ever painted, The Catcher in the Rye, every book Toni Morrison ever authored–all part of our shared history.

Combined, all the great works of content like the ones mentioned above represent an immeasurably small percentage of all the content produced, period. But the content we remember? The content that changes all of us collectively, and each of us individually? Behavioral change is the goal of any marketer, and content that succeeds in changing behavior–regardless of whether it is a great novel or a thirty-second commercial–is fearless.

Always.

Every time.

The same is true for your organization’s marketing and communications strategy. The only way to succeed as a marketer is to be heard, and the only way to be heard is to be fearless.

Finally, being bold and being fearless do not justify using Gandhi’s voice to sell Hyundais during the Super Bowl. That sort of “fearlessness” is just cynicism with good cinematography.

Plus, everyone knows Gandhi would never drive a Hyundai Accent.

The man was a revolutionary.

And revolutionaries only drive the all-new, redesigned Hemi-powered Dodge Ram.

Be bold.

Be fearless.

Be a better marketer.

 

By: Dustin McKissen

Source: Your Marketing Stinks Like Fear. That’s Why Your Content is Getting Ignored | Inc.com

UAE to Finalize Initial Coin Offering Regulations In mid-2019, Regulatory Says

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A financial regulator of United Arab Emirates (UAE) will introduce initial coin offering (ICO) regulations in the country by the end of the first half of next year. This development was reported by English-language local news outlet The National on Dec. 21. The Securities and Commodities Authority of UAE (SCA), which regulates and monitors the markets, will reportedly work with the Abu Dhabi Securities Exchange and Dubai Financial Market to develop a platform for ICO token trading. The SCA chief executive, Obad Al Zaabi, declared that the regulator has “signed agreements with law firms to come up with the sandbox and rulebooks for the issuance of ICOs. The article explains that the term “regulatory sandbox” refers to “a framework that facilitates the development of the financial technology industry.” Read more….

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