This article will summarize about the customer retention strategies where customers themselves turn into brand promoters and help in lasting growth of the company.
Setting up a company, evolving it to form as brand and then retaining the brand name is a challenging task. It is not one-day job but consistent warm approach towards customers, which enable the brand to retain its goodwill. Companies are often seen in involving sales and advertising strategies to garner new customers but it is important to understand this commonly made mistake.
It is important to understand that existing customers are more important and act as an important carrier of spreading the word about brand. They can act or used as brand promoters who give feeling of more credibility or trust to the targeted customers.
Fact: Do you know that it costs around business 5-25X more to procure new customers than it requires to market to existing ones?
Study reveals that it is more feasible for brands to spend upon existing customers who also spend 67% more than the new customers.
So, here we have important reason to understand the preferences, requirements and methods to attract existing customers than to invest upon new customers.
How should you turn customers into brand promoters?
Customer Loyalty Solutions is the tool or method to smartly understand the preferences of existing customers and target them with right approach.
- Loyalty Card: Loyalty card acts as a tribute to the loyalty to the customers, for their consistent belief in the brand and getting reward for the same that gives them relevant benefit. Membership cards or other kind of such benefits to loyal customers is a true reward for loyalty and if the benefits provided are relevant and useful then customers will they boast about the brand as their own and will attract other people of same interests too.
- VIP Benefits: VIP benefits give exclusive and superior feeling to customer who are loyal for their loyalty and give them feeling that they are part of the brand. It will give them feeling of being special and they would love to share this feeling with their friends, family and acquaintances.
- Discounted Rewards: Customers love to get discounts or off on their purchases and offering discount rewards to the loyal customers is something that they deserve. Offers of free products, vouchers, and other benefits, which customers can redeem easily and are of relevance to them, should be provided.
- Customized Perks: Customized perks like giving special offers on birthdays or giving some gifts, providing some extra benefits or service that is useful for particular customer serve best.
How AI Will Revolutionize the Digital Marketing Industry
The world is becoming more and more advanced everyday. Artificial Intelligence used to be a thing of the future, but in a world where the future is today, here is how AI will revolutionize the digital marketing industry.
How AI Has Stimulated Every Day Life
AI and machine learning has been a part of our lives for a while now. It has made its appearance in customers service chat boxes, music apps that find music specific consumers might be interested in, and by optimizing searches based on algorithms that determine behavior. AI is an infant today though, being used quite minimally in the digital marketing industry, but in the coming years it will grow to be one of the most integral parts of marketing optimization.
Content creation is one way companies can keep consumers engaged. Spicing it up with AI will create content more efficiently, as it will be designed to look like it was written by a human. AI has already seen its light in certain forms of content creation like real time stock readings business reports, but in the future the potential for AI to do so much more is so much greater.
More Personal Consumer Experience
Already AI has been implemented into certain websites, most notably google, in order to optimize consumer experience and essentially keep consumers coming back for more. Consumers appreciate when their experiences on certain websites are more personalized. As AI will continue to get smarter we can expect a giant leap in what it means for the personal consumer experience through AI.
AI Powered Consumer Insight
AI will be able to help companies review consumer behavioral patterns in order to come up with the best marketing schemes to their tailored audience. In doing this, Companies will be able to use AI to experiment with different schemes not only snag new customers, but also to keep the veteran customers engaged.
AI Running PPC
Most of the digital ad market today is currently run by Google. PPC campaigns are usually handled by agencies or other individuals with the know how, but introducing AI will not only make PPC campaign creation more efficient but will help look for new ways to optimize PPC ad campaigns. algorithms in the AI will be able to learn what works and what doesn’t in a much shorter amount of time. AI will be the new best way to optimize PPC ad campaigns and will help smaller companies if they implement it now.
Consumer and Marketer Connection
The connection between consumer and marketer is very important. AI will be able to assist in creating a stronger Consumer/Marketer connection by helping the marketer to create a more personal experience for the consumer with machine learning and behavioral-researching AI. That is only the beginning though. the future optimization of the digital marketing industry will rely heavily on AI. However, a healthy balance of the artificial and the organic will be necessary to create a truly meaningful Consumer experience.
The most personal consumer experience is one that feels natural.
The Best Social Media Marketing Strategies in 2018
Just a few years ago, you could get away with building a social media marketing strategy on the fly. As long as you were present, you were doing more than your competitors–right?
Well it’s 2018 and not much of the same logic applies today. With 30% of millennials saying they engage with a brand on social at least once a month, your strategy can’t be only about existence. Brands must be fully invested in their social media marketing strategies and focus on engagement. Otherwise, you’ll lose out on real customers, which means serious effects on your bottom line.
We’re not here to scare your brand into the world of social media. Instead, we want to provide your marketing team with the right steps to take toward a successful social strategy so your brand isn’t left in the dust.
Here are the 7 steps to create the best social media marketing strategy in 2018:
1. Create Social Media Marketing Goals That Solve Your Biggest Challenges
The first step to any strategy is to understand what you want out of your efforts. Social media marketing isn’t about flipping a switch and calling it a day. Instead, social media planning should be looked at like cooking your favorite dish.
Once you have your ingredients, you follow a recipe and presto! But that’s not always the case. What if you have guests and need to feed more people? What if someone is allergic to one of the ingredients? Suddenly, your goal goes from making a meal to ensuring it will feed enough people and be edible by all.
That’s why creating goals is so critical to the first part of your social media strategy. At the same time, it’s best to set goals that you know are attainable. Asking for 1 million new Instagram followers in 2018 is unrealistic. With achievable goals, you’re more likely to stick to the original plan and continue to take on new hurdles as you complete old ones.
This is the same reason why brands should never take on every social media channel possible in their current marketing strategy. Try to choose the channels that have the most importance based on your brand’s goals. Avoid over complicating a strategy with too many targets and objectives. Simplicity can take you a long way.
And also, don’t forget to document your social media goals. Not only is it important to help you benchmark where you are, but it also improves your chances of achieving them. According to some statistics, people who write their goals down are 30 times more successful.
Social Media Goals to Consider in 2018
Goal setting is a staple of all marketing and business strategies. Social media is no exception. Of course, with a range of social capabilities, it can be difficult to determine exactly what your objectives should be. For guidance, here are some common social media goals to consider:
- Increase brand awareness: To create authentic and lasting brand awareness, avoid a slew of promotional messages. Instead, focus on meaningful content and a strong brand personality through your social channels.
- Higher quality of sales: Digging through your social channels is nearly impossible without monitoring or listening to specific keywords, phrases or hashtags. Through more efficient social media targeting, you reach your core audience much faster.
- Drive in-person sales: Some retailers rely on social media marketing efforts to drive in-store sales. Is your brand promoting enough on social to reward those who come to you? What about alerting customers to what’s going on in your stores?
- Improve ROI: There’s not a brand on social media that doesn’t want to increase its return on investment. But on social, this goal is specific to performing a thorough audit of your channels and ensuring cost of labor, advertisements and design stay on track.
- Create a loyal fanbase: Does your brand promote user-generated content? Do your followers react positively without any initiation? Getting to this point takes time and effort with creating a positive brand persona on social.
- Better pulse on the industry: What are your competitors doing that seems to be working? What strategies are they using to drive engagement or sales? Having a pulse on the industry could simply help you improve your efforts and take some tips from those doing well.
2. Research Your Social Media Audience
Approximately 79% of adults use Facebook–but are your customers actively engaging with your brand there? Understanding your audience is necessary to learn things like who buys your products, what age group is the toughest to sell and what income level makes up the most of your returning customers? As for social media, it’s just as critical to know your audience.
First, your brand should look into the demographics of your most valuable social channels. Like we mentioned before, you should have a goal in mind for your social media marketing strategy. This is why you need to research the channels that correlate the most with your goals.
To help you find your focus channels: let’s take a quick look at the essential demographics data for each major network:
- Facebook’s most popular demographics include:
- Women users (89%)
- 18-29 year olds (88%)
- Urban- and rural-located users (81% each)
- Those earning less than $30,000 (84%)
- Users with some college experience (82%)
- Instagram’s most popular demographics include:
- Women users (38%)
- 18-29 year olds (59%),
- Urban-located users (39%)
- Those earning less than $30,000 (38%)
- Users with some college experience (37%)
- Twitter’s most popular demographics include:
- Women users (25%)
- 18-29 year olds (36%)
- Urban-located users (26%)
- Those earning $50,000-$74,999 (28%)
- Users with college experience or more (29%)
- LinkedIn’s most popular demographics include:
- Men users (31%)
- 18-29 year olds (34%)
- Urban-located users (34%)
- Those earning $75,000 or more (45%)
- Users with college experience or more (50%)
- Snapchat and other auto-delete app’s most popular demographics include:
- Men users (24%)
- 18-29 year olds (56%)
- Those earning less than $50,000 (27%)
- Users with some college experience (27%)
See even more demographics data on our in-depth guide!
Identifying Customer Demographics
While the demographics data above gives you insight into each channel, what about your own customers? Further analysis has to be completed before you can truly know your customer demographics on social media.
That’s why many brands use a social media dashboard that can provide an overview of who’s following you and how they interact with you on each channel. Most brands today are using at least some sort of dashboard. However, does your dashboard address your specific goals?
Whether you’re an agency providing insights for your clients or an enterprise company discovering your own demographics, an all-in-one dashboard solution is critical.
Also Read: Are PBN’s Still Good For SEO in 2018?
3. Establish Your Most Important Metrics
While your targeted social media metrics might be the most important step of a strategy, it’s often the spot most veer off the path. Vanity metrics like follower count and likes are always good to measure, but does it tell you the whole story of your brand on social media?
We often get wrapped up in viewing followers and likes as the truth to a campaign, but it’s smart to take a step back and evaluate the social metrics associated with your overall goals.
Engagement metrics sometimes paint a better picture, because as we’ve mentioned many times here, building lasting relationships works on social. Large audiences and likable content is absolutely great, but here are some other metrics you might want to pursue in 2018:
- Reach: Post reach is the number of unique users who saw your post. How far is your content spreading across social? Is it actually reaching user’s feeds?
- Clicks: This is the amount of clicks on your content, company name or logo. Link clicks are critical toward understanding how users move through your marketing funnel. Tracking clicks per campaign is essential to understand what drives curiosity or encourages people to buy.
- Engagement: The total number of social interactions divided by number of impressions. For engagement, it’s about seeing who interacted and if it was a good ratio out of your total reach. This sheds light on how well your audience perceives you and their willingness to interact.
- Hashtag performance: What were your most used hashtags on your own side? Which hashtags were most associated with your brand? Or what hashtags created the most engagement?
- Sentiment: This is the measurement of how users reacted to your content, brand or hashtag. Did customers find your recent campaign offensive? What type of sentiment are people associating with your campaign hashtag? It’s always better to dig deeper and find what people are saying.
- Organic and paid likes: More than just standard Likes, these likes are defined from paid or organic content. For channels like Facebook, organic engagement is much harder to gain traction, which is why many brands turn to Facebook Ads. However, earning organic likes on Instagram isn’t quite as difficult.
4. Research Your Social Competitive Landscape
Before you start creating content (we promise we’re almost there!), it’s really smart to investigate your competitors. We put this before the content creation process because you often find new ways to look at content by analyzing what’s making your competitors successful.
Again, we’ll always believe you shouldn’t steal your competitors ideas, but instead learn and grow from their success and failures. So how do you find that information? The first step is to find out who’s your competition in the first place.
The simplest way to find competitors is through a simple Google search. Look up your most valuable keywords, phrases and industry terms to see who shows up. For example, if you sold various soaps, “handmade natural soaps” would be a great keyword to investigate:
You can exclude the major retailers like Amazon and Bath & Body Works. Search for those who show up who are in your specific industry. Next you want to see who is active on social.
As you can see, Wild Soap has an active social presence, which means they’re a great candidate to track. After gathering a handful of industry competitors, it’s smart to use a social media competitive analysis tool like Sprout Social to track Facebook and Instagram content.
Here you can see post break downs of text, images and video to see what your competitors are doing to drive the most engagement. Once you dig through the competitive analysis, you’ll have a better idea of what your potential customers want.
5. Build & Curate Engaging Social Media Content
Did someone say content? It’s no lie–social media content is extremely important to your marketing strategy. However, it’s best to follow the previous steps before planning out content (we caught you, blog skippers!) so you can start building more effective themes.
For starters, we recommend creating content that fits to your brand’s identity. This means you should avoid things like reaching out to your unpopular demographics without a complete strategy in place.
It’s necessary to find the perfect balance between target content and being overly promotional as well. In fact, 46% of users say they’ll unfollow a brand if there’s too many promotional messages. Additionally, 41% of users say they’d unfollow a brand that shared too much irrelevant content.
Video Content or Bust
How important is video to your SOCIAL MEDOA MARKETING strategy? Extremely–approximately 90% of online shoppers believe product videos help them make a purchasing decision. Additionally, the average online video is completely watched end to end by 37% of viewers.
These type of stats should only enforce your reasoning to invest in social media video content. Brands can reach users through Instagram Stories, Facebook Live and other in-the-moment media.
Build Content Themes
One of the toughest challenges to visual content is creating it on a day-to-day basis. A Venngage infographic showed 36.7% of marketers said their No.1 struggle with creating visual content was doing so consistently.
This truly shows how important highly-visual content is to marketers and the people they want to reach. That’s why building content themes is a great approach to sectioning out your content. Instagram is one your premier channels to work off visual themes.
Anthropologie does an amazing job at keeping their Instagram feed consistent, colorful and eye-popping. Work in content themes to ensure you have a consistent schedule of excellent content to publish.
6. Engage With Your Audience & Don’t Ignore
Social media channels are built as networks. This means their main purpose is to be a space to converse, discuss topics and share content. Your brand can’t forget these core elements of “networking” and it takes effort to ensure conversations or engagement opportunities aren’t left unattended.
Through social media, you gain respect as a brand by just being present and talking to your audience. That’s why social customer care is so important to brands wanting to increase audience awareness. It’s all about engagement.
For example, Seamless does a wonderful job of not only responding, but showing customer care is priority. Through the right social media monitoring tools, you can find instances across all your channels to interact, respond and gauge customer service inquiries.
Designating teams to specific tasks can help your staff run like a well-oiled social media team, whether you’re a group of one or 100.
Post at the Best Times to Engage
When is your brand available to engage and interact with customers? You might see some recommending times to post late in the evening. But if your brand isn’t there to communicate, what’s the point of posting at the preferred time?
Instead, try to ensure your social media or community managers are available and ready to answer any product questions or concerns when you tweet or post. It’s smart to learn the best times to post on social media, but it’s just as critical to engage after posting.
According to our Index, a brand’s average response time is around 10 hours. But did you know that most users believe brands should respond to social media messages within four hours?
With all the updated algorithms, organic content has a tough time reaching the majority of your audience. The last thing you want to do is ignore those who engage and lose out on sending more down your marketing funnel.
7. Track Your Efforts & Always Improve
So, how well did you do on your social media marketing strategy? Without continuously analyzing your efforts, you’ll never know how one campaign did over another. Having a bird’s-eye-view of your social media activity helps put things into perspective.
You’ve got down your most important goals, network preferences and metrics–now it’s time to make sure you made the right decisions. Knowing you’ve made the right choices is still a difficult task in social media.
In fact, 46% of B2B marketers are unsure if their social strategy actually created revenue for their brand. But marketers are always trying and looking for the perfect connection. That’s why the most commonly used metric (80%) for marketers is engagement.
If you work at building lasting relationships, there’s a lot less room for failure with your social media marketing strategy.
Use a Tool to Track Success
Sprout Social was created with social media marketing in mind. Our social media tools offer a full suite of analytics and reporting features to help you pinpoint exactly which posts, messages and hashtags perform the best.
It’s easy to connect other critical tools to our dashboard like Google Analytics, which helps you see which posts drove the most traffic, conversions and overall revenue.
Social Media Marketing Strategy Checklist
We wanted to give our readers a few resources to use moving forward. That’s why we put together this 7-step social media marketing strategy checklist to help all of our readers creating and auditing their own strategies.
How to Deal with Negative People in your Life
1. Let the Negativity Pass
2. Negative People Need Love
3. Focus on the Positive
4. Ask Negative People to Elaborate
5. Detach and Avoid Trying to Change the Negative Person
6. Stay Away from Negative People
7. Keep Your Own Negative Thoughts and Behaviors in Check
Choosing A Marketing Company Orlando: Three Great Tips
Marketing is a delicate process. There are a lot of moving parts to the machine, and if you’re not from the industry, it can all seem a little intimidating.
Luckily, there’s always professional help. If you need marketing services in Orlando, you can always Google “marketing company Orlando” and find someone with the skills, experience, and resources to do a great job. And they’ll do it, on your behalf.
But what if you choose the wrong team? Or you’re not clear enough with your goals? What if the whole thing goes off the rails and you don’t get what you wanted out of it?
Today, we’re going to run through three things you need to know before choosing a marketing team for your business. Hopefully, this will take you from wary and trepidatious to ready to market your socks right off.
Ready to get your name out there? Not so fast – let’s look at what you’ll need to know ahead of time.
Know Your Goals
As with any big-budget investment, you have to go into digital marketing with a clear idea of, well, what it is you actually want from your marketing.
Not only is this important to saving you time and getting the results you want, but it also helps to keep the agency honest. It makes sense. If you bought a car with only a budget and no idea of what car you actually wanted, the first thing someone would do would be to sell you the most expensive car out there. Similarly, while we would love every agency to be completely transparent, the quickest way to waste money is to come in with only a vague idea in mind.
And while you’re at it, take some time to learn about their services. Are they a one-stop outlet for digital marketing services, or are their services specialized? Do you want dedicated service from them, or could you use a splash of their SEO added to your existing marketing base? And, if they don’t provide the service you need, do they use trusted partners to create that service?
And are you okay with that?
Ultimately, it comes down to doing your homework and understanding what you want to get out of it before you get started.
Research Their Previous Clients
Any time you hire an outside agency to represent your business in any way, you need to take a look at their previous clients.
Ask to speak with their references, especially when those clients are from your industry or industries like yours. Ask to see reviews, whether new or old, and ask to see them where they are online.
If you search for “marketing company Orlando” and there are Google reviews, you’re on the right track. You’ll know that someone went out of their way, logged in, opened up a text window, and wrote out their feelings. And nobody does that unless they are either very impressed or extremely upset.
Either way, you’ll get the answer you’re looking for.
Meet Their Team (And Make Sure You Get Along)
A marketing agency Orlando, no matter how they do business, boils down to a team of people, with a set of skills, who will apply those skills to your unique work.
And when you bring together any group of people to do things on your behalf, you’ve got to know who they are. What kinds of personalities have you got doing your work for you? What kind of approach do they take to an average workday? And do you like them?
Because, if you don’t connect with the people doing your marketing, that’s a taxing weekly meeting, and more chance of conflict when things go wrong. You have to make sure you make a connection with the people doing your work. Even if you don’t spend brunches with them or see them over the holidays, you need to make sure you are working with a team you like enough to work consistently with them.
Marketing Company Orlando: A Fine-Tuned Instrument
Working with a marketing company Orlando is a lucrative venture that can change the way your business connects with potential clients. But, like any venture worth the effort, it’s something you have to spend time researching and getting right before you go with it.
With the three points above, you’ll be on the path to finding the agency for you.
Are you looking for high-end digital marketing services in the Orlando area? Get in touch with Web Daytona today, and discover premium online services to take your marketing to the next level.
Port Orange Grill To Refocus and Reopen Under New Name
The Stonewood Grill & Tavern, a staple in the Port Orange restaurant scene, is closing its doors after fifteen years in the business. The move is a shakeup for such a well-known location. Management assures its fans, however, that they’re pursuing something new and “outside the box”. Namely, a new venture: The Coastal Grill Raw Bar.
In the month of August, Ormond’s well-known Dunlawton Avenue restaurant will close for business. Then, in October, it will be reopening as a brand new eatery called Coastal Grill & Raw Bar.
But, before you run off swearing your loyalties to a new Port Orange eatery, we should make one thing clear. This is a new restaurant with the same team you know and love behind it.
Coastal Grill Raw Bar: Breaking New Ground
The changeover is the result of Stonewood Holdings retargeting the local market and trying to do something new. It’s a reopening with a fresh image and a different focus while maintaining the good faith the Stonewood Grill & Tavern has established over the last fifteen years.
And just because they’re revamping the menu doesn’t mean they’re dropping your favorite foods. The new restaurant will focus more on fresh seafood than the grilled fare of years before, but with signature dishes actually remaining on the menu. The steaks you love aren’t going anywhere – they’re just sharing a menu with some exceptional seasonal chowders, po’ boys, and shrimp cocktails.
“You’ve got to think outside the box and try something new,” Stonewood Holdings chairman, L. Gale Lemerand, said, describing the switch. “We’ll offer oysters, conch chowder, fresh conch, conch salad and fresh seafood, more fish than we normally would have. We also have a new way of preparing shrimp.”
The new restaurant will also feature a raw bar.
What so often happens when restaurants reopen after a refocusing like this is that they very quickly drop all of their old staff members during the reshuffle. It’s a sad part of the industry and one that spoils reopenings like this for local community members and visitors from out of town who visit with certain expectations.
In another stroke of good news, Steve Papero, Stonewood Holdings president, and CEO confirmed Coastal Grill & Raw Bar will retain the management and most of the Port Orange Stonewood’s more-than 60 employees while the eatery is closed for construction. These staffers will be given temporary assignments at other nearby Stonewood Grills, Peach Valley Cafes, and Houligan’s Spirited Sports Grille. Open reopening, the Coastal Grill & Raw Bar is likely to bring on 40 full- and part-time employees to meet its new hours of operation.
Coastal Grill & Raw Bar: Welcome Home To Port Orange
Local residents and visitors from out of state won’t have to wait long before to experience this incredible new seafood location. Dunlawton Avenue’s Stonewood Grill & Tavern will close later this month before commencing renovations.
The target opening date for the new Coastal Grill is in late October.
And looking ahead to the future? Papero is on record as saying he feels Coastal Grill could become a new chain entirely on its own.
What Are The Benefits of CBD Oil?
BENEFITS OF CBD OIL
One of the popular remedy used for common ailment is the cannabidiol oil commonly referred to as CBD which is one of the 104 chemicals found in the cannabis and marijuana plant.
Unlike THC (Tetrabydrocannabinol) that makes people get high, cannabidiol is not psychoactive. Its quality is what makes it appealing to relief pain, suppress and cure other symptoms.
To make CBD oil, CBD is extracted from cannabis plant and is diluted with any carrier oil like hemp seed oil or coconut oil.
Since research and studies have shown that it has various health benefits and plays a vital role in treating variety of ailment, the unique oil has gained momentum.
How does CBD work?
Cannabinoids are known to always produce effects in the body by attaching to certain receptors because the human body is known to produce certain receptors called CB1 and CB2.
CB1 deals with pain, appetite, mood, memories and coordination, they are found in the body but higher concentrations are found in the brain while the CB2 receptors deal with inflammation and pain and they are found in the immune system.
Initially, researchers believed that the CB2 receptors are what CBD attaches to but it doesn’t work that way. CBD directs the body to make use of more of its own cannabinoids.
The health impact of CBD in the body cannot be overemphasized but here are some of the beneficial effects;
It helps in relieving pain
The anti-inflammatory and natural pain relief properties made CBD oil useful in relieving pains and stiffness. It can also be used for the treatment of chronic pain.
Helps reduce anxiety disorders
THC have been known to amplify the feeling of anxiousness but research on Neurotherapeutics showed that CBD is beneficial in reducing anxiety in people with certain disorders like general anxiety disorder, social anxiety disorder, panic disorder, post-traumatic stress disorder and obsessive-compulsive disorder.
Treatment of Acne
This is one of the promising uses of CBD oil, because of its anti-inflammatory effect it helps in lowers the production of sebum. Sebum is the oily substance produced by the body and when it is over produced, it causes acne.
It is useful in the treatment of Type I diabetes
Type 1 diabetes is a result of inflammation that occurs when the cells in the pancreas are attacked by the immune system. The anti-inflammatory effect of the chemical makes it useful in the treatment of the disease.
Useful in fighting cancer
Researchers have made it known that using CBD oil will help reduce and combat cancer by suppressing the growth and promoting the destruction of cancer cells.
Beneficial for heart health
Another benefit this great product provides is that it lowers high blood pressure which is linked to numerous health conditions like metabolic syndrome, stroke and heart attack.
In a recent study, CBD oil was used in treating ten men with high blood pressure. The result of the treatment showed that their blood pressure was lowered after they took 600mg of CBD oil.
Other benefits of CBD include;
- Anti-tumor effect
- Treatment of substance abuse
- Treatment of Alzheimer disease and
- Epilepsy treatment
Holistically, the benefits of CBD cannot be overemphasized.
Also Read: CBD FOR SALE | PRODUCTS FOR TREATMENT!
10 Reasons Why Your Business Should Accept Bitcoins
You’ve started your own business and added the general means of payment, like credit card and PayPal. However, you’ve been considering adding Bitcoin – or any other cryptocurrency – as well, either to boost your popularity or to bolster crypto adoption rates through trading. Still, this can be a challenge to get into due to price volatility.
In spite of that, we bring you 10 reasons why your business should accept Bitcoins. However, have in mind that these reasons may not work for everyone as there are certain risks associated use of Bitcoin, too.
Credit card fees usually run around 2-3%. Bitcoin fees do not depend on a transaction size. At time of writing, the median transaction fee was much less than 1 USD. Therefore, the larger the transaction is, the cheaper it becomes. However, fees fluctuate – in the end of 2017 the median transaction fee surpassed 30 USD.
2. Safety from Fiat Exchange Rate Risk
However, Bitcoin is certainly volatile. But most merchants who currently accept it set prices in their local currency and get paid in their local currency, and Bitcoin itself acts only as the medium through which the transaction takes place. Also, a Bitcoin payment processor service with existing point-of-sale integration might help. As such companies can even deposit the money in your bank account in your preferred currency once a payment has been made. That would help reduce risks related to the Bitcoin exchange rate. But all those services come with a fee.
3. International Sales
Bitcoin transactions allow you to expand your markets to basically anywhere. The only restriction is if you’re selling a physical product – where you’d be willing to ship. Since you skip banks altogether, you don’t have to deal with waiting for ~3 days for the transaction to complete. Transfer limits and outrageous fees also become a thing of the past.
4. No Chargebacks
Chargebacks are quite a headache, and dealing with them can sap a considerable amount of time and energy that could be better spent growing your business. Bitcoin transactions are completely irreversible, so you skip this problem completely.
5. Ease of Use
When you start, Bitcoin is easy to use, and only getting easier with time. There is absolutely no need to completely understand the technology behind it to be able to accept the coins – nobody asks you to understand how backing (or lack thereof) works for fiat currencies either. You do need some basic knowledge, but that’s easy to come by these days.
Bitcoin adoption is still in its early days. Being the first business in a certain niche to accept Bitcoin can earn you headlines in cryptocurrency news portals, you can submit your website to communities like spendbitcoins.com, coinmap.org, and weusecoins.com and perhaps gain more customers this way.
7. Cutting-Edge and Forward-Thinking Identity
Continuing the “publicity” topic, especially if you’re a “cutting-edge” brand or have established yourself as a “thought leader” and “early adopter,” then adopting Bitcoin as a payment method sends a clear statement to your audience. Even if it’s still another buzzword to add to your portfolio, it can hardly hurt.
Traditional transactions may take a very long time, especially when making international bank transfers. You might have to wait for up to one week before funds can be successfully transferred from one country to the other. It is even worse when you want to transact during weekends or holidays. The delays can be frustrating. Although you may hear that Bitcoin has slow transaction times, this is just relative to the crypto industry in general. Compared to banks, Bitcoin is incredibly fast and your cross-border transaction can be done in just a few minutes.
9. No Third Parties
Most payment options often involve a third party. When you have money in your bank account, it is the bank that has the ultimate say, despite the money being yours. If they deem it necessary, they can freeze your accounts and render you moneyless. As a business, this can result in a lot of losses. Bitcoin is decentralized, and this means only the buyer and seller are involved.
10. New Markets
The use of digital currencies has enabled businesses to access new niche markets that might not have been accessible before. For instance, in some parts of Africa and Asia, very few people have access to good banking services. This often locks them out as they cannot transact with people in other geographical areas. As we mentioned previously, the only obstacle is whether you’re willing to ship (in case you sell a physical product) to a certain geographical area.
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Gold’s Gym Raises $2,300 For Local Jewish Federation
Gold’s Gym Ormond Beach hosted a charity event with a lot of heart over the weekend of August 4. Members participated in specialty classes designed specifically for this event and made donations while having fun.
And the results were better than anybody could have hoped for. On the following Friday, Gold’s Gym informed their Facebook followers they had raised more than $2,300 for the Jewish Federation. This is money used to buy backpacks and school supplies for Volusia County children.
“This is a cause that is very close to our hearts. It brought us a lot of joy to play a part in this donation,” said the official announcement.
Community and gym members alike were invited, over the course of the weekend, to participate in a series of fun spin and fitness classes. The end goal: to encourage attendees to donate generously.
Handing over a check for $2,308 to representatives from the Jewish Federation on Thursday, smiles, and gratitude filled the room. Gold’s Gym had made the impact they’d set out to make. More importantly, though they’d made a difference.
The Jewish Federation of Volusia and Flagler Counties
The Jewish Federation of Volusia and Flagler Counties is an organization which works hand-in-hand with local Jewish communities. Part of their mission statement is strengthening the Jewish identity on a local level, and meeting their unique needs.
For more information on how you can help support the Federation and the work they do, call 396-672-0294 or visit them, online.
And to those of you interested in fitness in the Ormond Beach area, why not stop in at your local Gold’s Gym and break a sweat, today?
And, to Daytona community members, read our recent article on Gold’s Gym’s exciting new move to the Shoppes at One Daytona.
Gold’s Gym Brings Exceptional Fitness To The Daytona Beach Community
Fitness enthusiasts in Daytona Beach have a lot to look forward to this December, as Gold’s Gym makes its way to the Shoppes at One Daytona. With an exciting rollout, a massive new store, and an innovative pre-sale event planned, Gold’s is set to make an explosive entrance into the world’s most famous beach.
And it’s in good hands, too!
Gold’s Gym and the Ward Family
Ormond Beach Gold’s Gym franchise owners, the Ward family, will be taking over the lease at the Daytona location. Co-owner, Tyler Ward, spoke about the family’s experience owning the store since 2001, what prompted the expansion, and his hopes for the future.
“We’ve been looking to expand for quite some time, now,” Ward said. “Branch out, and, with a few folks we had worked with before, we started a discussion about leasing out this space.”
What To Expect
The location in question clocks in at an impressive 29,300 sq ft, surpassing the available work area at the Ward family’s current location. It’s also the largest available space at the Shoppes at One Daytona. Management is predicting staff members at the new location will number around 50 workers, with a full complement of gym equipment. It’s a strong introduction into the community from one of the leading fitness brands in the country, and translates into increased job opportunities within the city itself.
“One thing that will be unique to the new location is going to be more of a studio style or boutique style of classes. We’ll have five different class spaces with five different offerings going on at any time of the day. We’re bringing a host of classes under one roof and allowing our guests to pick. So, where once you may have had to go from one location to another, do this but not that because of time, now you can take any combination of classes you want.”
The gym will feature a team training center, as well as facilities for yoga, cycling, and exercise. Guests can also look forward to hydrotherapy massage facilities, and there’s even an onsite Kids Club for busy parents.
Classes will be half-hour slots, so guests can combine classes without becoming exhausted. “We want people to be able to fit their workouts in before work, during lunch, and after work.”
Another bit of innovation behind the launch is an interactive pre-sale area, going up in Shoppes at One Daytona in mid-September. “We will have a small pre-sale space opening right there in the shopping center while the new gym is still under construction. And that pre-sale area, what it’s going to offer is a sneak peak view into the look and feel of the facility.”
The area will feature massive picture frames, showing off 3D renderings of each the gym area, long before it’s finished being built. Future guests can walk in, look around, and get an almost exact idea of what they will be experiencing when the gym has its grand opening, later this year.
And to top it all off: “We’ll have actual gym equipment set up in the pre-sale room as well, for people to get a full-on tactile experience of what we’ll be offering.”
A Note On Service
Ormond members understand the Ward family’s involvement with their location. This is something Tyler and Ward co-owners, his father, grandfather, and aunt are all proud of. “We’ve grown with Ormond beach, as a family as well as a company. The reciprocation of the members – their love of the facility is the foundation of what Gold’s Gym is, here in Ormond.”
“We were at about 10,000 sq ft and 1200 members back in 2001 and we’ve grown this into over a 5,000 member base and 27,000 sq ft of space. It’s been amazing over the years to see how many members have joined with us and continue to stick with us because, when they come in every day, they get a ‘Hello’. We work in that way to brighten their day, give them a good start to their day.”
Ward spoke about his hopes to bring that same personable model over to operations at the Shoppes at One Daytona. “Our tagline within this facility has always been ‘Friendliness, cleanliness, and professionalism’. And in the time that we’ve been operational, we’ve created programs to duplicate that work ethic and carry that with us, over and over again, wherever we go.”
“We put the value to the customer long before anything else,” Ward said. “Within both facilities, you’re part of our Gold’s Gym family – you’re not a number to us. When you join us, you’re joining a family.”
Gold’s Gym, Daytona
Memberships are priced per month, for individuals and families, but Ward says to look out for special offers in the following months. “Pre-sale rates, grand opening offers – guests can look forward to that. Keep your eyes open.”
Apple Is Worth $1 Trillion; 21 Years Ago It Was on the Brink of Bankruptcy
SAN FRANCISCO — In 1997, Apple was on the ropes. The Silicon Valley pioneer was being decimated by Microsoft and its many partners in the personal-computer market. It had just cut a third of its work force, and it was about 90 days from going broke, Apple’s late co-founder, Steve Jobs, later said.
On Thursday, Apple became worth more than $1 trillion when its shares climbed 3 percent to end the day at $207.39, two days after the company announced the latest in a series of remarkably profitable quarters.
Apple’s ascent from the brink of bankruptcy to the world’s most valuable public company has been a business tour de force, marked by rapid innovation, a series of smash-hit products and the creation of a sophisticated, globe-spanning supply chain that keeps costs down while producing enormous volumes of cutting-edge devices.
That ascent has also been marked by controversy, tragedy and challenges. Apple’s aggressive use of outside manufacturers in China, for example, has led to criticism that it is taking advantage of poorly paid workers in other countries and robbing Americans of good manufacturing jobs. The company faces numerous questions about how it can continue to grow.
And Mr. Jobs, admired for his dazzling product demonstrations and feared for his blunt management style, was arguably the tech industry’s most famous figure when he died in 2011 after a battle with pancreatic cancer. He was 56.
“Could anyone really imagine this back then?” said Apple’s former software chief Avie Tevanian, who joined Apple in 1997. “We hoped to make the company very successful and very valuable. But to think it would get to where it was today? Of course not. And Steve wouldn’t have thought that, either.”
Apple was founded in 1976 with the mission of making computers — then bulky, complicated industrial machines — cheap, small and simple so they could become a mass-market product. By the 1980s, the company was one of the world’s best-known brands.
But in 1985, Mr. Jobs was ousted in a boardroom coup. In the following years, the company was increasingly outgunned and outmaneuvered in the personal-computer market it helped invent.
Apple, hamstrung by a lack of new ideas, failed products and leadership turmoil, had lost its way.
Fred Anderson, Apple’s former chief financial officer, said that shortly after he joined in 1996, he initiated a $661 million bond offering to keep the company afloat. “I didn’t know how bad it was until I started digging in,” he said.
By the end of that year, Apple had lost $867 million and the total value of its shares was less than $3 billion.
The ailing company decided to take a gamble. It bought Next, a tech firm run by Mr. Jobs, for $400 million. Mr. Jobs, still synonymous with the Apple brand, would return to the company he had founded.
“It was on the rocks,” Mr. Jobs later recalled. “It was much worse than I thought.”
Mr. Jobs slashed 70 percent of Apple’s product plans, commissioned the company’s “Think Different” ad campaign and reimagined how it put its products together.
“We’re trying to get back to the basics,” a weary Mr. Jobs said in a 1997 internal meeting with staff. A video of the meeting posted online later showed him sporting shorts and sandals. “The question now is not: Can we turn around Apple? I think that’s the booby prize. I think it’s: Can we make Apple really great again?”
The focus on simplicity became a hallmark of Apple, from the way Mr. Jobs dressed — jeans and black mock turtlenecks became his uniform of sorts — to the way his products operated to the eventual look of his company’s retail stores.
In 1998, Apple introduced the iMac G3, a round, colorful, all-in-one desktop computer. It became a hit. Apple had its swagger back.
The company’s revitalization was confirmed with the iPod, the portable music player that almost immediately changed consumers’ relationship with music. The iPod, which debuted in 2001 and went on to sell more than 400 million units, showed that Apple wasn’t just a computer company. The device was paired with iTunes, the company’s music store, which would help upend the recording industry. And it portended a bigger product to come.
“The iPod was a step — a really important one,” said Ken Kocienda, a longtime Apple software engineer who will soon release a book about Apple called “Creative Selection.” “But the iPhone was really the definitive answer to the question: What comes next after personal computers?”
The iPhone transformed the way society interacts with technology, and quickly became one of the best-selling products ever: More than 1.4 billion have been sold since it was introduced in 2007.
No product or decision was remotely as instrumental to Apple’s rise to $1 trillion as the iPhone. When Mr. Jobs first announced the iPhone, Apple was worth $73.4 billion.
Former employees and analysts said that while Mr. Jobs deserved credit for overseeing the reinvention of the company’s vision and its innovation, his successor, Timothy D. Cook, had also played a crucial role in the turnaround by overhauling the way Apple built its products.
Mr. Cook, as chief operating officer under Mr. Jobs, remade Apple’s distribution pipeline to heavily rely on contract manufacturers in China, which gave it the flexibility, cost savings and scale to build such a big business.
As chief executive, Mr. Cook has also overseen most of the rise in Apple’s value. (The total value of the company’s shares was $346 billion when he took the helm in August 2011.) Mr. Cook has been a steady, if unflashy, hand as chief executive, building the iPhone into a huge business, including sales of accessories and services off it.
Now, with Apple reaching the $1 trillion milestone and the iPhone turning 11 years old, pressure is likely to increase for the company to develop a hit new product.
There have been other popular devices, like the iPad, the Apple Watch and routinely updated versions of Apple’s personal computers. But none have come close to the impact of the iPhone.
The company also has been linked to self-driving cars and augmented reality glasses, but Apple would face major technical and even social hurdles with either product.
There are other challenges. Apple depends on China for a significant amount of its sales, as well as its manufacturing. It could be caught in the middle of the trade war brewing between China and the United States.
“It’s been one of the most miraculous corporate turnarounds in business history,” said Tim Bajarin, a technology analyst and consultant who has tracked the company for nearly 40 years. “The question going forward is: Can Apple continue to innovate?”