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3 Effective And Low-Cost Marketing Strategies

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While marketing in today’s digital world provides many more options for businesses, it also makes it more difficult to know where and how to spend your marketing dollars. And when startups are competing with larger companies who have extensive marketing budgets, it can be especially intimidating to figure out how to win over consumers. Let’s take a look at how businesses can implement low-cost marketing strategies that still get results.

Pivotal Relationships Are Key 

Instead of attending low-budget networking event after event, give your time and attention to strategic functions that could lead to beneficial partnerships. Invest in attending high-caliber conferences or becoming a member of trusted organizations.

Also, be sure to research which organizations or groups the high profile individuals in your industry are a part of, and see if you can join those communities. You can use social media platforms, such as LinkedIn or Twitter, to reach out and engage with movers and shakers as well. This can increase the chances of meeting and developing pivotal relationships with individuals who have leverage in your industry. Above all, make sure you’re adding value to the people you meet as opposed to asking for favors or advice.

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Focus On The Product And Service

Word-of-mouth marketing is extremely powerful and effective, and that’s because it isn’t easy to obtain and isn’t a marketing ploy that a corporation has carefully crafted. Word-of-mouth marketing impressions result in five times more sales than paid media impressions. Not to mention that consumers are more likely to trust and buy from a brand recommended by a friend.

But without a rock solid product or service, and a near-flawless customer experience, it is difficult to get people to tell their friends about your brand. Hosting focus groups, or using feedback software like SurveyMonkey or TypeForm can help you pinpoint what customers would like to see changed about your product. And it’s important to pay attention to reviews on sites like Google and Yelp to see where your product or service could be refined.

Word-of-mouth marketing drives $6 trillion of annual consumer spending and is estimated to account for 13% of consumer sales.

That’s why it’s important to always be listening and improving – by doing so, you may find your customers do all the advertising for you.

Be Flexible, Yet Calculated

A great deal of the digital advertising rat race is caused by brands constantly hopping on the latest marketing trends just because others are doing it. Seeing competitors running Facebook ads doesn’t mean you should throw money into Facebook advertising the very next day. For one, the ad may not be converting as well as you suspect. Secondly, every brand is different. And lastly, getting a potential customer’s attention can be very challenging on a platform like Facebook where users are scrolling through to catch up with old friends or simply share a life update.

Be flexible and open to experimenting with new and creative ways to advertise your company – but also be meticulous in your ROI calculations. This way, you’ll know which avenues to double down on the next time you’re putting together your marketing budget. You might find your referral system is driving 90% of your company’s leads every month, which implies you can pump the brakes on more traditional forms of advertising.

If you have the right connections and your product solves a big enough problem, you might even find that you don’t need to advertise at all – the key is to find out what’s best for your business.

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When all your ducks are in a row in terms of advertising – creative concepts, prospect targeting, brand messaging, high-quality imagery and crisp copy, advertising can work wonders for a company of any type.

Marketing and advertising works, which is why the U.S. digital advertising industry alone is valued at $192 billion. Yet, if you’re strategic and crafty enough, and focus exclusively on relationship-building, your product, and word-of-mouth marketing, your company can significantly minimize advertising spend.

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I am the CEO of Studio 15, a socially responsible fashion brand. After leaving behind a 15-year career in the corporate fashion world, I started a company that focuses on doing good and supporting women. It’s Studio 15’s mission to promote and collaborate with other female-owned businesses and to support female entrepreneurs in developing countries through a partnership with Kleos MFG, a non-profit organization.

Source: 3 Effective And Low-Cost Marketing Strategies

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Financial Advisors: Here’s How Market Volatility Impacts Investor Psychology

Market volatility is a stressful reality for any investor. But when market turbulence strikes, financial advisors are in a unique position to help their clients anticipate and manage their anxiety around money. All it takes is understanding a little psychology.

And while it’s true that stock markets have improved since the recession in 2008, surveys show that investors and financial advisors still expect volatility to return throughout the next few cycles.

In fact, according to the Eaton Vance Spring 2019 ATOMIX survey, financial advisors consider managing their clients’ relationship to volatility to be one of their major concerns this year.

So what is an advisor to do? To better understand how a client might react to a volatile trend, it might help to think about their deep-rooted feelings about money and how they view their personal control of events.

Research shows that the wealthiest investors — those who make up the richest “one percent” — have a different relationship to investments than the less wealthy: They have what’s known as a heightened internal locus of control.

For the most part, humans either think that they’re in charge of what happens in their life, or they believe that life happens to them (those who believe they’re in control of their life and its outcomes have an internal locus of control).

Having an internal locus of control is associated with higher wealth, and because these people are more likely to take responsibility for the outcomes in their life, the top one-percenters are also more likely to believe in their own abilities to solve problems and achieve goals, make better investment decisions and react more calmly when volatility strikes.

Having an external locus, however, is associated with self-destructive financial behaviors.

Financial advisors can help clients move to a more centered approach by asking thoughtful questions about past financial decisions, and can assist in determining where a client’s locus of control lies.

Dr. Brad T. Klontz, an associate professor of practice in financial psychology at Creighton University Heider College of Business and the cofounder of the Financial Psychology Institute, uses what he calls “money scripts” to help understand investor behavior.

Money scripts are unconscious beliefs about money, which are developed in childhood, and drive financial behaviors as adults. Klontz considers there to be four groups: money avoidance, money status, money worship and money vigilance — and the first three are associated with lower levels of net worth, lower income and higher amounts of revolving credit.

Klontz offers questions that you can ask to determine a client’s unique script makeup.

What’s also encouraging is that, while volatility can be stressful for any investor, recent research shows that volatility can indeed lead to increased adaptability. Yale researchers found that primate brains are more actively learning when a situation is unpredictable than when the situation is easier to predict. This suggests that our brains become more engaged when facing a high-risk-high-return situation, because this is when we absorb new information and adapt for future outcomes with preferred results.

Watch our video above to see how you can leverage your clients’ psychological background to inform and build an investment strategy to help meet their goals.

From iShares:

Championing investor progress has been at the heart of BlackRock iShares’ mission from the very beginning, relentlessly pursuing better ways to invest. That’s why iShares by BlackRock is bringing you Macro Mindset, a series that equips financial advisors with psychological knowledge to enlighten their clients about the myriad factors that come into play when in tricky investment situations. To learn more about why ETFs should be considered in building a strong strategy, visit iShares.com.

Important information about iShares ETFs:

Visit www.ishares.com to view a prospectus, which includes investment objectives, risks, fees, expenses and other information that you should read and consider carefully before investing. Investing involves risk, including possible loss of principal.

Investing involves risk, including possible loss of principal.

Diversification and asset allocation may not protect against market risk or loss of principal.

This information should not be relied upon as research, investment advice, or a recommendation regarding any products, strategies, or any security in particular. This material is strictly for illustrative, educational, or informational purposes and is subject to change.

The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

Source: Financial Advisors: Here’s How Market Volatility Impacts Investor Psychology

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What is Volatility? -The magnitude of the change -It is independent of direction, it refers to the change of ups and downs Why is it Important? -The more volatile the market is, the crazier it gets -Trends are harder to spot when they are more volatile -Swing trading becomes riskier -It is better to stick to day trading during high volatility days or months because you want to lower your risk on those days What to do on High Volatility Days: -Inverse ETFs (e.g. BGZ, SKF, TZA, FAZ) -They are opposite of the market -They are more stable than one specific stock. -Can trade off of 15 minute or 5 minutes charts (day trading charts) #marketvolatility #tradingvolatiledays #volatiledays #understandmarket #stockmarket Posted at: https://tradersfly.com/blog/understan… 🔥 GET MY FREEBIES https://tradersfly.com/go/freebies/ 🎤 SUBMIT A VOICE QUESTION https://tradersfly.com/go/ask 👀 START HERE: FOR NEW TRADERS https://tradersfly.com/go/start/ 🎉 START HERE: OPTION TRADERS https://tradersfly.com/go/start-options/ 📈 MY CHARTING TOOLS + BROKERS https://tradersfly.com/go/tools/ 💻 MY COMPUTER EQUIPMENT https://backstageincome.com/go/comput… 💌 GET THE NEWSLETTER https://tradersfly.com/go/tube/ 🔒 SEE OUR MEMBERSHIP PLANS https://tradersfly.com/go/members/ 📺 STOCK TRADING COURSES https://tradersfly.com/go/courses/ 📚 STOCK TRADING BOOKS: https://tradersfly.com/go/books/ ⚽ GET PRIVATE COACHING https://tradersfly.com/go/coaching/ 🌐 WEBSITES: https://tradersfly.com https://rise2learn.com https://backstageincome.com https://mylittlenestegg.com https://sashaevdakov.com 💌 SOCIAL MEDIA: https://tradersfly.com/go/twitter/ https://tradersfly.com/go/facebook/ ⚡ SUBSCRIBE TO OUR YOUTUBE CHANNEL https://tradersfly.com/go/sub/ 💖 MY YOUTUBE CHANNELS: TradersFly: https://backstageincome.com/go/youtub… BackstageIncome: https://backstageincome.com/go/youtub… 📑 ABOUT TRADERSFLY TradersFly is a place where I enjoy sharing my knowledge and experience about the stock market, trading, and investing. Stock trading can be a brutal industry, especially if you are new. Watch my free educational training videos to avoid making big mistakes and just to continue to get better. Stock trading and investing is a long journey – it doesn’t happen overnight. If you are interested to share some insight or contribute to the community we’d love to have you subscribe and join us!

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Here’s How Bloomberg Should Have Spent His $1.8B For Economic Mobility – Allison Dulin Salisbury

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As soon as news hit of Michael Bloomberg’s latest donation to Johns Hopkins University, the praise—and the critiques—started rolling in. If you missed it, the billionaire and former New York City mayor announced last week that he would be giving $1.8 billion to his alma mater to increase need-based financial aid for low- and middle-income students. Bloomberg’s goal, he wrote in The New York Times, was that “no qualified high school student should ever be barred entrance to a college based on his or her family’s bank account.” That’s a well-meaning goal, but it misses the mark on promoting economic mobility more broadly, his ultimate aim, and the purported aim of much of education philanthropy………….

 

 

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Harnessing Innovative Technologies To Advance Audit Quality – Panos Kakoullis

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Businesses today operate in a dynamic, fast-moving, digitally enabled, and fiercely competitive global economy. To respond, organizations must constantly adapt – and so must their auditors, by incorporating innovative technologies to continuously address and identify emerging risks in markets characterized by perpetual transition. Ground breaking technologies are significantly enhancing audit quality by arming auditors with innovative tools to solve big problems— such as how to acquire robust and complete data in a repeatable fashion. Technology is enabling auditors to process, organize, and evaluate data at a faster pace than ever before………

 

 

 

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Want To Sell More? Keep Your Mouth Shut – George Deeb

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I have written dozens of useful how-to lessons for driving sales, but perhaps none is more important than this one.  This is the day that you learn that driving sales has very little to do with what YOU have to say.  And, it is everything to do with what YOUR CLIENT has to say.  The magic sauce to closing the transaction is knowing how to ask probing questions, sit back and LISTEN.  Keeping your mouth shut is typically a really hard concept for a salesperson to grasp.  But, if they do, jewels of insights and real pain points of your customers will quickly surface to the top the more THEY talk……..

Read more: https://www.forbes.com/sites/georgedeeb/2018/11/02/want-to-sell-more-keep-your-mouth-shut/#4c8322c01e8e

 

 

 

 

 

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6 Ways Tech Has Reinvented Holiday Shopping – Mark Stone

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This year shoppers will go about their business in a retail environment where online commerce has taken a bigger piece of the holiday sales pie. Customers are clearly appreciating the frictionless shopping experience that online platforms and payment providers can offer. It also doesn’t hurt that 59 percent of people, according to a PayPal study, would rather do almost anything than deal with holiday shopping crowds. That includes shoveling snow for a quarter of that group……..

Read more: https://www.forbes.com/sites/braintree/2018/10/30/6-ways-tech-has-reinvented-holiday-shopping/#157e1d74aaf2https://www.forbes.com/sites/braintree/2018/10/30/6-ways-tech-has-reinvented-holiday-shopping/#157e1d74aaf2

 

 

 

 

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The Integrated Marketing Organization: How to Lower Waste, Increase Collaboration, and Turbocharge Performance – NewsCred

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Integrated marketing — possible now more than ever because of technology — is the solution to many of the challenges facing marketers today. The old established marketing models have broken-down, there’s mounting revenue pressure and scrutiny on marketing investments, and there’s a laser focus on minimizing risks and maintaining security, especially in the new era of GDPR………

Read more: https://insights.newscred.com/ebook-the-integrated-marketing-organization/

 

 

 

 

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Bridgewater’s New Brain: A Millennial Woman Is Blazing To The Top Of The World’s Largest Hedge Fund – Nathan Vardi

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In August, Karen Karniol-Tambour warned that the U.S. stock market was priced for perfection, making it vulnerable to the sort of sell-off that took place in October. While convinced that in the long term investors need more exposure to Chinese markets, as of late October she wasn’t bullish about China for the short term, either. “It’s a good time to be nervous about financial assets,’’ she says.Unlike ordinary investors, Karniol-Tambour can do more than wring her hands. As head of investment research at Bridgewater Associates, the world’s largest hedge fund, with $160 billion in assets…….

Read more: https://www.forbes.com/sites/nathanvardi/2018/10/30/bridgewaters-new-brain-a-millennial-woman-is-blazing-to-the-top-of-the-worlds-largest-hedge-fund/#290effeb39fe

 

 

 

 

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Five Reasons Business Strategy Is Mission Critical – Aaron Vick

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Navigating new terrain without a road map is hard. The same can be said about your business no matter how long it has been established. A business strategy process is critical to define your company’s mission, create goals and create a plan to achieve them. All too often, businesses skip strategy and just wing it. It’s a decision that comes with repercussions. Statistics show that 95% of employees aren’t aware of or don’t understand their company’s overall strategy…..

Read more: https://www.forbes.com/sites/forbestechcouncil/2018/10/19/five-reasons-business-strategy-is-mission-critical/#747c3da97793

 

 

 

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