Business N Finance

A typical expectation among new voice blasters or concerns considering utilizing voice blasting is that the biggest portion of their live transfers will end up being qualified leads.  Most of the time this is far from true.  Nevertheless, despite the fact that a fraction of transferred calls turn out to be qualified leads, automated telemarketing can be employed productively in many instances, given a sensible plan and good business systems.

If a telemarketer is dialing a pitch to live-answered phones exclusively, and accepting press one live calls to sales staff, we’ve seen many cost-effective broadcasts that receive only a 15%-25% “long call rate”. (Here a long call is characterized as a call where both individuals are on the phone together for at least 1 1/2 minutes.)  And this is not to connote that all of the “long calls” end up being classified as qualified leads by the broadcaster. Far from it. Some telemarketers have confirmed that often only 1/2 or sometimes less of the long calls are worthwhile leads.

This is the reason it is so important that a concern debate their business measurements carefully as they plan a voice blasting program. For example, if their overall cost for a “long call” is $25, and 1/2 of them are qualified leads, and they can at the end of the process make a deal with 1/4 of the good leads, then the cost of a sale for them is $200. If the profit for one deal is not substantially higher than $200, their own business metrics may make it impossible to use automated telemarketing cost effectively.

These numbers will differ widely among different types of businesses, and are affected by both the message along with the target dialing list. For example, the hypothetical business “Wonderful Web Widgets”, who desires to sell website services to small business, would be ill advised to deliver a campaign to an “all businesses” list, since such a list would include large businesses (which they’re not targetting), in addition to a lot of small businesses that dont feel a need to host a website.

Why dial a recording to beauty parlors and accountants if these types of businesses aren’t usually interested in websites?  This only increases the cost of the lower amount of qualified leads that are obtained.

Another thing to deliberate is the mode of the telemarketing program. The example above was about a live delivered message. How about answer machine / voicemail programs?

For most businesses, the response rate for the live delivery – live transfer broadcast is between 0.6% and 1.0%. Which means that for every 100 calls delivered to a live answered line, there is less than 1 transferred call.

For a broadcast that delivers scripts on answer machines, the numbers will be significantly reduced, because the listener will have to have sufficient interest to record the callback number, and next call it back, taking much more work than just “pressing 1″ during a live recording. These numbers are impractical for us to record, because the calls back to the telemarketer don’t utilize our broadcast system, but telemarketers who use this method have indicated to us that the call back rate is probably 1/4 to 1/3 of the live transfer quantity for a like recording.

For a business debating utilizing voicemail broadcasting as a lead production technique, the recording is important, the target market is critical, and the basic business systems are probably the most essential factor to debate when planning a lead generation campaign.

If you’ve been reading my other articles, you’re already aware that if you’re using voicemail broadcasting, you will receive some negative transferred calls.  And how creating a script with a higher response rate will lower the quantity of such calls. In this article I’ll talk about another important method that will actually shrink your response rate, and step up your worthles transferred calls. {Believe it or not}~Even though it sounds bad, you’ll want to use this tip, that is, if you want cheaper lead expenditures.

Let me tell about it with an illustration.  Be advised – this is a made up example, but this concept is normally true.

Picture a voice broadcasting project to advertise virtual offices with a Beverly Hills address to business owners.  The marketer writes a pitch around the stature of a Beverly Hills address, having a phone number service to answer your calls there, being able to have a meeting your clients in your Beverly Hills meeting room, press one to speak to our rep…

We’ll take for granted that this message receives a 0.9% response rate.  And that there are 0.3% of prospects who’ll “press 1 for no good reason” – the omnipresent negative callers.  So this script will produce 1 call out of 3 that is negative, and 2 out of 3 will show some level of interest.  Appear fine thus far?

Certainly, but the message failed to remark that this virtual office is priced at $200/mo.  And when the 2 of 3 interested people hear this, only 1 of them considers spending that much.  So, the broadcaster has identified 1 person in 3 that is both interested and qualified.  These people are the broadcaster’s qualified leads.  And if the marketer is paying $6 per call, his cost per real lead is $18. Not too bad…

Now picture this…the broadcaster develops a new script which reveals that his service costs $200/mo.  Since 1 prospect in 3 was not interested in spending that amount, this is a very important qualifying statement.  So, what will take place with this new pitch?  First thing, a lot of prospects who won’t consider to spend that much will not press 1.  So the overall response rate will reduce.  Let’s say it goes down to 0.7%.  And we’re still stuck with the 0.3% of those “negative callers”…

Do the math and it follows that with this new script, instead of receiving 33 bogus calls per 100, the marketer will get about 43 – yikes! Just like we told in another piece, when the response rate reduces, the quantity of negative calls increases.  Good grief, he gets ten more worthless transfers!  Why would this be a benefit in any instance??

Well, just a minute… From a previous report, we learned that 0.3% of people are both interested, and ready to pay the $200 rate.  So that means the broadcaster will also receive approximately 43 positively interested AND qualified leads per 100 live transfers.   That accounts for 86 calls of 100, who are the extra 14 calls?  They are from people who are interested but not willing to pay $200 – so why would they continue to press 1?  ‘Cause they’re people, and people don’t always understand the whole message, or act predictably even if they do.  Part of the unqualified leads will also press 1 every time, no matter how much qualification is in the pitch.

Anyhow, let’s work the calculations again – if the marketer was spending $6 per live transfer in this story, he is now receiving his “qualified leads” at an average cost of $14.  So.if the marketer is able to put up with a bigger quantity of bogus live transfers, he will likewise obtain a lower average lead cost.  Sounds like a contradiction in terms, but correct

Anytime you have a major qualifying item – it is critical that you include it clearly in your message, for exactly this reason.

The great thing of IM is that every ad you place can be tracked. For example every click that comes to your web site can be monitored. For instance, you can monitor pay-per-click (PPC) advertisements down to the level of the keywords that the searcher typed in to see your advertisement. Proceeding a step further, you are able to track the resulting sales coming from that click. Irrespective of whether you’re using gratis or paid advertising to get traffic to your website, it is important to be able to quantify the effects of your campaigns.

As a business owner, you ought to know your return on investment (ROI) for your advertising campaigns. In the realm of offline advertising such as newsprint or magazine classified advertisements, you’ll often find that advertizers apply a different section number or postal box for each advertisement. They use the an equivalent mailing address but add another departmental code. In this way, they can monitor how different advertisements perform based on the enquiries that get sent to the different departments.

This works also for the 800 numbers that you call to get more information about merchandise that you’ve seen or learned about. Companies can establish different toll-free numbers used for each advertisement and that’s how they can measure the effectiveness of multiple advertising campaigns. In offline promotion, it’s much more expensive to set up the tracking. Imagine the costs associated with arranging different phone numbers or multiple PO boxes.

In the online world, however, tracking becomes inexpensive as you are able to implement it using an mixture of scripts or software programs. With PPC advertising, you are able to easily use a simple PHP script to enable you to capture the keywords coming from a Google search referral – not to mention Google analytics.

Let’s take a look at another example. With a lot of web hosting packages, you’re allowed to implement multiple email addresses. You can set it up so that in each advert you use another email address. Then when you get an email inquiry to a specific e-mail address, you’ll know where that enquiry originated from. Another way to do this is to establish multiple subdomains to use as the link in your ads. For instance, if you’re advertising in online e-zines, you are able to duplicate the same ad copy but send the subscribers to a different subdomain using a different URL for each ad.

When you’re able to track the efforts of all your advertising, you can sit down at the end of the business month and work out which campaigns are generating the best ROI. You are then able to scale those campaigns or fine-tune them to try and maximise your profit. If you’re not tracking), then you’re simply flying blind and you’re depending more on chance. Start tracking your advertising (campaigns today.

No business would exist without its management. Managers could be described as the glue that holds any establishment together by organizing its human resources, its finances, and its day to day operation. Some people have a more natural affinity for this sort of job than others. Every manager, however, can benefit from management development coaching, whether they are new to the practice or seasoned veterans.

Management development is not punishment. Good managers recognize when they could use a little help in increasing efficiency, and no one is so good at their job that they cannot improve with a little guidance. The goal is to make you the best manager, employee, and person you can be, and the benefits can be reaped by everyone.

The greatest benefit of management coaching is better results in your career. This may seem like it should go without saying, but there are so many so-called “solutions” out there that really do not have tangible career benefits. Coaching is different. If you find somebody good, great things will start happening at your business. Your employees will be happier, you will see a difference in your profits as your operations will run more efficiently.

Your business is not the only recipient of these benefits. Management development can be a very positive experience for you as well, not just as a manager but personally. The skills you will learn during coaching sessions can be applied both in the workplace and in your everyday life. You will improve just as your business does.

You may find management coaches almost anywhere nowadays. Some of them are better than others. Make sure to read a coach’s credentials before hiring him or her. Testimonials can’t hurt, but it is even better to ask for recommendations from people you know personally. They should be able to point you to a coach that will be a good match for your activity.

All organizations can benefit from guidance provided by reputed and experienced business coaches. Management development as suggested by the coaches can bring your disparate management system to a unified focus, thus adding vigor to your business.

Managers manage people/finance/sales/production etc. All managers are not naturally suited and management development coaching helps in their development. This program benefits the individual by imparting key inputs. The first benefit of management coaching is profitable business career. Knowledgeable employees result in smooth operation/happy employees/higher profits. The skills learnt are applied not only in business but also in everyday life. The increase in number of management coaches causes variation in coaching quality and one has to ensure proper coach is selected by getting his credentials/testimonials. All organizations, irrespective of whether small/big/growing/ailing can benefit from guidance provided by reputed/experienced business coaches.

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In all companies, wether you are selling information products or doing construction there are many lessons to be had. Here is a fictional example.

Your business has just opened its doors. A lot of money and time have been invested, in everything from advertising to office furnishings. The phone rings, and you answer professionally, though you are quite nervous. The conversation rushes by in an excited fog, and you gradually realize that the caller wants an estimate on painting her bedroom. “Two hundred dollars,” you blurt out of nowhere. Agreeing that the price is all-inclusive you seal the deal. As you hang up, you realize that you have just signed your very first customer.

What is wrong with the above scenario? You named your price, it was acceptable to the customer, and a deal was made. Things couldn’t be any better, right? Before becoming too enthusiastic, consider what now takes place.

You arrive at the customer’s home, as agreed. After some formalities you finally get to have a look at your new project. Just before she opens the door, your customer says happily, “I would have thought this would cost me an arm and a leg! Thank you so much for charging such reasonable prices.” You quickly get that sinking feeling as you get your first look at your new project.

The walls are crumbling – and not only figuratively speaking! You quickly establish that the crumbling material is really old paint. This will require a complete sanding job as well as patching and priming, before you can even begin to paint. To make matters even worse, the room is larger than your entire house, and you quickly establish that you are expected to paint not only the walls, but the ceiling and all of the trim as well. There are four double hung windows, each of which will need to be hand-sanded and repaired, as will the chair rail, baseboards, and four closet doors and casements. You make some quick calculations in your head and immediately realize that the price you quoted will not even cover the cost of that much paint, let alone the palm sander, joint compound, trim brushes, drop cloths, and other materials that will be required. You taking your quote back, but quickly realize that new businesses live or die on the power of word of mouth, and to go back on an agreed-upon bid is suicide. You take the job in hopes of being able to write off your losses, and make a mental note do your home work next time around..

What went wrong in this situation, and is it possible to prevent this from happening to you? Fortunately, a myriad of software options exist. Software can teach you the ins and outs of cost estimating, and even let you know average rates for your location. You could also join a lead generation site. For a one time setup fee plus a small charge per accepted lead, these sites provide a wealth of tools, including cost estimation capabilities.

With the plethora of cost estimating software applications currently available, there is no need for even a brand new business owner to fall into the trap of poor estimating. Never quote a price over the phone, especially until you gain more experience. Even then, you may be able to ask key questions and throw out some very general figures, but you must continue to stress that you cannot give a firm price until you see the actual project.

For entrepreneurs there are many ways of keeping up to date and acquiring new skills. One very popular learning tool right now are various how to videos. A great place to find these is the online bookstore Ebook Maniac, particularly when you want various online business skills and strategies.

After the bipartisan legislation finally approved the $900 billion rescue bailout, more and more investors from different industries are keeping their eyes wide not to miss anything that the government has promised them, more so with the poorer citizens whose properties are at the verge of foreclosures. On the other hand, the stock market news says that there is nothing positive about the outcome of the billion-dollar bailout at this time. Banks are still hesitant to loan out their money to both consumers and other commercial banks to get more money with lower interest rates. Truly, the credit crisis has taken a major toll, but the ripples of its actions still make the market unsteady.

The U.S. administration now gets a full control on all the home foreclosures and financial institutions that are being affected by the credit crisis. While the stock market news says that lenders did not seem enthusiastic about the government’s program, the possibility of refinancing mortgages at a loss may still be slim. The government’s role in the current economic turmoil that has spread through the market does not simply end on passing a bill that will financially aid troubled industries but also in raising programs that will bring lending and borrowing back to usual business again. Surely, these companies have developed lending phobias as their industry has dipped back into the red. But they should realize that the bill is intended not only for saving their assets but also, and more importantly, giving affordable loans for the common citizens to refinance their loans again.

Also, the government should assure borrowers that the bailout money does not go only to a few rich banks, but toward stabilize reeling credit markets in the country. The recent stock market news revealed the government’s plan to sort borrowing processes that would provide for some more lending rules. Also, they have set their gaze on the lending rules of these banks, which would actually account for big headwinds to the downside that the companies may have acquired through the years. The Federal Housing Administration has also extended assistance toward the owners of homes by assuring them of the $300 billion foreclosure rescue for citizens who have had trouble financing their house loans.

Unfortunately, while the headlines reveal that these efforts are in effect, it won’t be until the next few weeks before the changes would be carried on, even with the major banks. Needless to say, investors are more favorable with adjusting mortgage modification programs which would give them lesser losses on the principal amount of loan of these borrowers.

bailout is just a quick salvage that needs another plan to back it up. The government should work on taming these banks to give the borrowers’ part of the bailout plan, and that is making loans affordable and easy to finance. Only then can we be assured that the credit crunch has finally left the scene.

As professionals climb up the ladder of employment, they are always looking for a way to put them above the rest. A way that some achieve this is through management coaching training. This is giving some professionals a better insight into their own actions and what they can do to be more successful. Everyone strives to improve themselves in some way or another.

If you open your professional life to management coaches, you are willing to listen to someone else’s opinion about what they’re doing. However it is the professional’s choice: to be or not to be following the advice and suggestion of the master class. They’re only here to teach you some valid tools and suggestions to help you to reach success.

While it is a good thing to take management coaching training, for the course to do you any good, you must be willing to listen to others’ opinions of your current actions and able to change your actions when you hear a new and better course of action. Ultimately, the only person who can control what you do is yourself.

The things you will learn are worth the efforts. You’ll be teached by someone knowledgeable that was purposely trained to know how to teach to you. They are completely equipped with methods and trainings in order to help you conduct more rewarding and successful business lifes.

Management coaching training, however, is also useful in other areas of your life if you want to put it to work there as well. Improving relationships, for example, with family and friends, or setting better life and personal goals – these are things coaching can help you with.

You have worked really hard to come so far and you should continue laboring in the same spirit to achieve more success in the times to come. The more you hone your skills, strengths and abilities, the closer you shall get to your goals.

To remain above the others, some try to do this by management coaching training. By opening up their professional lives to management coaches, the person involved is agreeing to listen to someone else’s opinions of what they are doing. But it is the professional’s choice as to whether or not they follow the suggestions of the master class. It, however, is also useful in other areas of your life if you want to put it to work there as well. Improving relationships, for example, with family and friends, or setting better life and personal goals – these are things coaching can help you with.

Read more about coaching in management and extra tips on free accounting classes.

Home based business ideas are a dime a dozen. The truth is, most opportunities being advertised are based on a get rich quick mentality and this is not conducive to building a long lasting business.

By the same token though, now is the perfect time to get into home business. The current economy status worldwide is in a mess, people with jobs are fearful of losing them and those without a job are desperate to find a way to generate income so they can provide for themselves and their families.

Home business ideas such as working on eBay or doing paid surveys have merit however, either require a learning curve or are fraught with danger.The obvious choice is network marketing but many people shy away from this and on the surface, with good reason.

But don’t be too hasty in dismissing network marketing as a legitimate and worthwhile home business model.
Home Based Business Ideas

Network marketing is undergoing a revolution right now and yes, it’s because of the influence of the internet.

The term inter-network marketing is being used to promote the marriage of the MLM and the internet and while some may claim they’ve been using the two successfully for several years the fact remains, the majority of network marketers are still stuck promoting their businesses using out dated offline methods.

Home based business ideas revolving around inter -network marketing are as good an opportunity to create long lasting wealth as you will come across.

The main reason is the ability to attract targeted prospects, the life blood of any MLM business, into one’s business has become a heck of a lot easier. And better still, they can be attracted in great numbers.

Once upon a time it would take several years to build a network marketing business to a respectable income level but today, it seems that growth factor has increased significantly.

Internet Network Marketing

That’s great but what about the learning curve involved in using the internet for people without too much experience? Good question and the truth is, there is going to be a learning curve involved with anything you do.

But in this case, when choosing a vehicle to start your inter-network marketing business, choose wisely. There are several community based network marketing environments which teach this stuff today.

Think Occupy The City or Renegade system. There has never been a better time to enter the MLM business minefield as there exists today. At home business ideas which concentrate on building sustaining financial wealth need to be put at the top of your search list.

Content dominates the internet and the truth is, without content then there would be much point going online looking for information.

A small business idea worth considering is writing for the web. If this sounds a little far-fetched then think again. Webmasters have millions upon millions of pages online and with Google dominating search discussions and basically setting the rules, updated and relevant content is a major discussion point.

Webmasters are constantly on the lookout for fresh and unique content and as a writer, it doesn’t get any better that that. As a small business idea, the possibilities to create a solid income are endless.

Writing For The Web

As an idea for small business, the writing field can branch off into different areas but you can make a great living by simply concentrating on the internet marketing field. With the need for fresh content at a premium the well for job opportunities is almost bottomless.

Have you heard of private label rights articles. Better known as PLR, it simply means they are articles shared by a group of marketers who re-work the content and use it on their web properties. For a writer, it’s a lucrative area once they know how to play the game.

Here’s a scenario. Imagine producing 20 articles on the topic of bass fishing. You write 20 articles around twenty different keyword themes and then make the package available to a select group of people. Let’s say you sell it to 200 internet marketers and you make the package available for $20.

Bass fishing is a popular niche and there wouldn’t be a shortage of takers. So at 200 x $20 = $4000. That’s $4000 you’ve made from a product which may have taken you a day to write. Now here’s the difference between writing the articles for a one time deal. Let’ say you are paid $10 an article to write twenty articles on bass fishing. The total earnings to you would be $200.

Can you see the difference here? You are putting the power of leverage into play. Do the work once and get paid many times for it. Once you gain enough experience the potential income available from this model can be enormous.

As a small business plan, writing private label rights can be a very lucrative home business experience. But before you take the next step, make sure do your due diligence and we are going to make some suggestions in the next article on ways to get known as a quality writer in internet marketing.

In a dramatic press update on 27 August 2008, Sharp Corporation unveiled its latest technological weapon against bird flu! Incorporated in its ionic air purifier, the Plasmacluster Ion Technology (more on this in a later post) has just been scientifically proven to be 99.9% effective in destroying the bird flu virus known as H5N1.

As we have been constantly reminded by the press, bird flu is the prime suspect to cause mankind’s next pandemic. Pandemic sounds terrifying. It is. That’s when a deadly virus turns totally global, in a very negative sense. It boggles my mind that the 1918 Spanish Flu may have killed 50 million people on earth! That was blamed on the H1N1 virus which was only recently confirmed on 5 October 2005 by the World Health Organization (WHO) to be a bird flu virus.

Now that I have your attention, is it time to PANIC?

Not quite, not yet anyway. The H5N1 virus was identified in China in 1996. Up to 10 Sep 2008, WHO data puts the death toll at 245, a “relatively small number” statistically. So what’s the fuss? Scientists monitoring the virus fear that it may mutate into a form that transmits from human to human. As I write, there has been only one probable case of human-to-human transmission recorded in Thailand in September 2004. Without a doubt, there will be global pandemonium if the dreaded virus mutation happens.

Quietly but conscientiously, many countries are preparing for the worse (more on this in a later post). As protectors of our families and loved ones, we should start doing some homework too.

Ok, so what’s all this got to do with Sharp’s ionic air purifier. Isn’t it just another ionic air purifier? Yes, because it takes care of the usual pollutants (dust, dirt, smoke, dander, pollen, cuisine odors, pet odors, allergens etc) that contaminate the air that we breathe and live in. But if we can get protection from all these and more in one ionic air purifier, especially one that is a tested defense shield against a potentially deadly virus, why not? The complete package is promised in Sharp’s Plasmacluster Ion Air Purifier.

Obviously, for the value-conscious, the next logical question would be “yes, that makes a whole lot of sense but at what cost”? Here again, Sharp claims that it’s at no extra cost! They go so far as to say it may in fact be cheaper than any other ordinary ionic air purifier when measured over 5 years. Great value for our hard-earned money! How is it possible in this nothing-is-for-free world?

Well, in promotional materials, using the Plasmacluster Ionic Air Purifier Model FP-N40CX as the basis, Sharp contends that it is much better value for money as there is no filter replacement costs for the first 5 years. At first sight, the typical competitor’s upfront cost of US$160 looks cheap compared to Sharp’s US$399. But add in the annual replacement filter replacement costs of US$100 and the total outlay for the competing ionic air purifier comes to US$560.

If you have relevant data, be it on Sharp or the competitors, I would greatly appreciate your input. Please drop me a note if you have actual experience.

Meanwhile, I’m going to scrutinise intently the Sharp Plasmacluster Ion Technology. The time to research is now, while bird flu is still not quite at pandemic proportions.

Today is the day to get started. Personal panic does not fade. Imagine thousands of frantic people going from drugstore to drugstore looking for the same face mask. The N95 mask was touted as the only effective weapon as a near-pandemic scare gripped Asia. It was the SARS (severe acute respiratory syndrome) virus. Originating in Asia in 2003, it eventually infected 8,096 people around the world and resulted in 774 fatalities. As always, being prepared is half the battle won.

Watch this space as we track exciting developments in our pursuit of safe, pure and clean air with nothing more than an ionic air purifier.

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