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How Can Businesses Survive a Global Recession?

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How Can Businesses Survive a Global Recession?

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Imagine you’ve spent years building your dream business, pouring your heart, soul, and savings into it. Then, what could seem out of nowhere, a recession hits. Suddenly, the world economy is struggling, and your business is feeling the effects.

Your customers are cutting back on spending, your revenue is dwindling, and your future looks uncertain. It’s a nightmare scenario that no business owner wants to accept, but it’s a reality that many could soon face. That’s why it’s essential to have the right mindset and strategies in place to not just survive but even thrive in anticipation of this upcoming recession.

Looking to the future, the specter of a global recession casts a long shadow. Economic instability, geopolitical pressures, and a host of other factors are causing anxiety for businesses and consumers alike. A recession can be a difficult time for any company, with reduced demand, falling revenues, and the need to cut costs. Nevertheless, there are measures businesses can take to proactively prepare for and mitigate the impact of a recession.

We’ll explore some practical strategies that businesses can use to survive a global recession. By taking action now, businesses can minimize the impact of the downturn and emerge from it in a strong position.

From conducting an internal review of operations to diversifying revenue streams and utilizing high-yield savings accounts and trading options contracts, we’ll provide insights and advice that can help businesses weather the storm and come out on the other side stronger and more resilient.

Conducting An Internal Review

During a global recession, businesses must be prepared to make difficult decisions about how to allocate their resources. One of the first steps that businesses can take is to conduct an internal review of their operations to determine what is working and what is not. This review can help businesses identify areas where they can cut costs and conserve capital, while also identifying opportunities for growth and innovation.

To conduct an internal review, businesses should gather data and insights about their operations, including financial statements, customer feedback, and employee feedback. This information can then be analyzed to identify areas where the business is performing well, as well as areas where it is struggling. Businesses should also consider external factors such as market trends, competitor activity, and changes in consumer behavior.

Nurture Existing Customer Base to Decrease Churn Rate

Once the internal review is complete, businesses can begin to identify areas where they can cut costs and conserve capital. This may involve eliminating non-essential expenses, such as unnecessary travel or entertainment, or reducing spending on marketing and advertising. It may also involve renegotiating contracts with vendors or suppliers to secure better pricing or terms.

During a global recession, one of the biggest risks that businesses face is losing customers. As consumer spending decreases, customers may be less likely to make purchases or may look for cheaper alternatives. However, businesses can take steps to mitigate this risk by nurturing their existing customer base and reducing churn rate.

To nurture their existing customer base, businesses should focus on building strong relationships with their customers. This can be done by providing excellent customer service, offering personalized recommendations or promotions, and keeping customers informed about new products or services. Businesses should also make an effort to listen to their customers and respond to their feedback, whether it’s positive or negative.

In addition to building relationships with customers, businesses should also work to increase the value that they provide to their customers. This may involve offering loyalty programs, bundling products or services, or providing special offers to existing customers. By doing so, businesses can make it more attractive for customers to continue doing business with them, even during a recession.

Businesses should also look for opportunities to streamline their operations and improve efficiency. This can include automating certain tasks or processes, outsourcing non-core activities, or consolidating operations to reduce overhead. By streamlining operations and focusing on core activities, businesses can emerge from the recession in a stronger position and better equipped to take advantage of growth opportunities when the economy recovers.

Diversify Revenue Streams

Diversifying revenue streams is a key strategy for businesses looking to weather a global recession. By reducing dependence on any one product, service, or market, businesses can increase their resilience to economic downturns. This can involve exploring new product lines or service offerings to tap into new sources of revenue. Whether expanding into new markets or simply introducing new offerings to existing customers, diversification can help businesses adapt to changing economic conditions and emerge from a recession stronger than before.

Diversifying revenue streams and generating additional income is essential for businesses to thrive during a global recession. One effective approach to achieve this is by investing in high-yield savings accounts. By allocating a portion of their cash reserves to these accounts, businesses can earn interest without taking on excessive risk. Currently, the interest rates on high-yield savings accounts range from 0.25% to 5%, providing a relatively safe way for businesses to earn additional income. This can be particularly beneficial during a recession when revenue may be low, and the extra income can help businesses stay afloat. However, it is crucial to carefully research and compare different high-yield savings accounts to find the best fit for their needs, considering factors such as interest rates, fees, and accessibility. By doing so, businesses can maximize their returns and strengthen their financial resilience during challenging times.

A smart tactic that a business could approach is through trading option contracts. In a recession, markets can be unpredictable and volatile, making it difficult to generate profits through traditional investment strategies. However, option contracts can provide investors with the ability to profit from negative price movements, through put contracts and short selling. For businesses with sufficient cash reserves, trading in option contracts can be a way to mitigate the effects of the recession on their revenue streams.

It’s crucial to approach option contracts with seriousness and care, as they can provide a powerful means of boosting revenue for businesses. However, because of the high level of risk involved it’s essential to fully understand the intricacies of option trading before executing any trades. Just as you’ve invested time and effort into ensuring the smooth operation of your business, it’s essential to expand your knowledge and execute trades with precision and efficiency. With the right approach, options trading can be a valuable tool in your business strategy.

Conclusion

In times of global recession, it’s understandable to feel anxious about the future of your business. But remember, there are ways to prepare and even thrive in the face of economic challenges.

By taking a strategic approach, such as conducting an internal review, nurturing your existing customer base, diversifying your revenue streams, and staying agile, you can set your business up for success. Seek out new opportunities and control costs, but most importantly, don’t forget to be flexible and open to change.

Every business is unique, and what works for one may not work for another, so don’t be afraid to try different approaches. By combining these strategies with a willingness to adapt, you can emerge from a recession stronger and more resilient than ever before. Remember, your business is capable of weathering the storm and coming out on the other side, and with the right mindset and preparation, you’ll be ready to face any challenge that comes your way.

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Market Research and How to Conduct It Like a Pro

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Market research is an essential part of any successful business plan. By gathering information on customer preferences and behavior, you can make decisions on how best to satisfy your customers, inform marketing strategies, and develop new products and services.

But how do you go about conducting market research? In this blog post we’ll take a look at what it takes to become an expert in the field so that you can get the most out of your efforts.

Why Is Market Research Important?

The first step in successful market research is to establish your goal. What is your business trying to do? Do you want to find out more about customer buying behaviors or how to use the best lead conversion tactics? 

Knowing what information you need will allow you to determine which type of data collection method you choose. 

How It Can Work For You

One of the most practical uses for market research is to inform decisions about product positioning and pricing. Understanding what your competitors are doing can help you make informed decisions around pricing, distribution and promotion. 

Additionally, by understanding your customer’s needs, you capture their attention in a crowded marketplace.

Market research is also vital when it comes to creating marketing strategies, as you’ll have a clear understanding of what your customer wants. Moreover, measuring the effectiveness of your marketing campaigns helps optimize advertising expenditure by identifying which channels are driving the most results.

The Two Types of Data Collection

Market research can be broken down into primary and secondary research. 

Primary market research involves collecting data directly from target consumers via surveys, interviews, focus groups or other methods. This is usually more costly but provides the most accurate results.

Secondary research focuses on existing data from sources like government agencies, trade associations, newspapers and online polls. 

While not as detailed as primary research, it can still provide valuable insights about customer preferences and industry trends.

All research should be conducted with an organized approach. To start, you will need to establish the purpose of the research. That will help you determine what data you’re looking for and why. Next, formulate a research plan that outlines how your data is collected and how it will be analyzed.

Accuracy Is Paramount 

When conducting primary market research, make sure that your questions are specific enough to get valuable feedback but also general enough that you can avoid respondent bias. 

Additionally, to ensure accuracy, surveys should be tested on a small sample size before taking them to larger groups.

Be mindful of the information source and accuracy, to ensure that your conclusions are valid.

There Are Ethical Considerations

When conducting market research, you need to remember the ethical implications. All your respondents should be treated with respect. Moreover, you must protect their privacy throughout the process. 

For example, you could use an anonymous survey instead of asking for personal information. Your researchers should only ever collect data on those topics that are relevant to your objectives. 

Additionally, it’s worth providing an opt-out option. That way, if anyone changes their mind about participating, they can do so without feeling pressured or obligated. 

Adhering to these ethical principles will guarantee that your findings are as reliable and valid as possible.

Next Up: Data Analysis 

This involves interpreting and visualizing your findings to depict results. To begin with, try to work out the trends in customer behavior, industry changes, competitive forces, and any other metrics relevant to your goals. 

Additionally, look for data patterns that can help inform future decision-making such as which product lines are making more money or which marketing strategies are more effective.

Market research should also include an element of qualitative analysis, which will  uncover any potential insights or opportunities that don’t show up in numerical form.

Always Report Your Findings

Finally, researchers should report back to the necessary stakeholders. That way, your company can make informed decisions about business strategy. 

This means taking all of the information gathered during your research and putting it into a concise yet comprehensive report that can be easily understood.

Implement Your Findings 

 

Once you have analyzed your market research results, your business can start creating strategies and action plans according to what you’ve learned. 

With a heightened understanding of customer needs, businesses can stay one step ahead of competitors while also providing higher levels of satisfaction to customers.  

Final Thoughts

Conducting market research is an essential part of any successful business plan, and with the right tools and knowledge, your company can get invaluable insights into the target customers of your industry. With a systematic approach to both primary and secondary research, you can make sure that you’re making informed decisions about your business strategy.

So there you have it – the key steps to becoming an expert in market research! 

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Expert Tips on How to Develop an Unforgettable Tagline

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As an entrepreneur aspiring for success, you must know the importance of building a solid brand through your business name, tone, and taglines. A tagline is a one-liner that expresses the essence of your brand and communicates its values and purpose to potential customers. 

A memorable tagline immediately impacts people’s perceptions of your business and can be the difference between a great brand and a poor one. This article will provide advice on creating an unforgettable tagline that aligns with your business, strengths, and passions.

5 Tips and Strategies to Creating an Unforgettable Tagline

  • Gather Good Tagline Ideas

Creating a strong and unique tagline requires careful thought and consideration. And the foundation for every great tagline is an equally great idea. 

When looking for fantastic tagline ideas, consider using metaphors, imagery, and wordplay. These can help make your tagline more memorable and captivating. For example, you might use the phrase “Unlock your desire for more” to emphasize the potential of your products or services being the best your clients have had. 

But be careful to make sure it’s unique and not cliched. One of your tagline’s primary goals should be to stand out from the competition. Look at the words that you use and make sure that your tagline is different from the other taglines in your industry.

  • Create Unique Taglines that Align With Your Brand

Creating a unique tagline that suits your brand is not an easy task. You need to come up with a phrase that accurately reflects your core values and mission while being memorable and fun. 

To get started, you’ll need to understand your business and diligently write a summary of your brand’s mission and vision. Doing this will make it easier for you to brainstorm or use a reliable naming service to find a captivating tagline.

  • Outline and Test Your Tagline Ideas

Once you have a list of potential tagline suggestions, Consider how you could use each of them to communicate the values of your business and how you can use each phrase to convey a unique message to your audience. 

Writing down your tagline ideas on paper or a digital notepad can help you view all your ideas at once and keep you on track in the screening process.

You should also test the tagline ideas with potential customers to ensure that they accurately reflect the values of your business. Use audience testing to make sure your tagline is memorable and resonates with your target market. 

  • Your Tagline Must be Relevant to Your Audience

When crafting a tagline for your brand, you should always consider your target market and the values and ideals they favor and are likely to appreciate. Your tagline should be tailored to appeal to this particular demographic. For example, if your target audience is young professionals, you might choose a tagline emphasizing success or innovation.

Make sure that your tagline is a phrase that resonates with your target audience and grabs their attention. It should evoke an emotional response and make them think about the potential of your business. It should also be easy to remember and say.

  • Ensure You Research Your Competition

Before you settle on a tagline, you should do some research on your competition. Consider your competitors’ brands and how they are communicating their values to their audience through their taglines. 

Consider how these taglines compare to yours and note what makes them successful, and avoid any pitfalls they have encountered.

Lastly, make sure your tagline avoids trademark conflicts. For your tagline to benefit your company, you have to ensure it does not violate any existing trademarks.

Examples of Unique Taglines

While crafting a tagline for your business, it’s always helpful to look at the taglines of successful companies. Consider Apple’s “Think Different,” Nike’s “Just Do It,” and McDonald’s “I’m Lovin’ It.”

These taglines have helped make these brands as popular as they are today, so it would make sense to look into what made them successful in the first place.

Why These Taglines Work

These taglines all have one thing in common – they have a strong emotional appeal. They evoke a feeling of excitement, passion, and ambition.  Not to mention that these taglines are also relevant to their target audience and demonstrate the values and purpose of their respective companies. 

Finding a Great Tagline is Important

When trying to create a good first impression on your potential customers, having a solid brand always helps. Creating an awesome tagline can help build a strong brand for your business and its products that would catch customers’ attention and cause them to consider your brand.

Always remember that great taglines use metaphor, imagery, and wordplay to be more memorable. They are also relevant to the target audience and demonstrate the values and purpose of the respective companies. 

Grant Polachek is the head of branding at Squadhelp, a 3X Inc. 5000 business that creates distinctive, attractive, and memorable brand names for both established and start-up businesses. We have gone through more than a million names and gathered a comprehensive list of distinctive domain and company names that’ll be perfect for founders everywhere.

 

Top 5 Places to Incorporate Your Business
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Top 5 Places to Incorporate Your Business

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Starting and running a business in your home country is safe, but “safe” is never good enough for ambitious entrepreneurs. If you’re ambitious, penetrating new international markets has to be at the top of your agenda. You have to take risky gambles in order to succeed in business. Though risky to start, offshore incorporations open up new B2C marketing possibilities, a larger target audience, new business experiences, and more steady income streams.

What does it mean to “incorporate” a business entity? In a nutshell, business incorporation means registering a business as a legal entity separate from you, the owner. In the eyes of the law, the business is a Limited Liability Company (LLC) or a Corporation that can legally transact business just like an individual citizen would. An LLC or corporation can initiate lawsuits, acquire & own property, and be sued. You are not liable for any losses the business might incur or lawsuits it may attract.

How to Choose the Right Place to Incorporate an Offshore Business

Here are a few considerations to make before deciding to incorporate a business in a country:

–          Tax implications on the business, its investors, and employees. Which tax relief provisions exist in the country and how do they benefit investors? How do income tax liabilities affect your employees’ overall remuneration? Are there capital gains liabilities that might affect your business profitability?

–          The amount of paperwork (licenses and other legal documents) involved.

–          How rich is the local labor market? What’s the cost of hiring and retaining human capital? How easy is it to fire employees in case you need to downscale or get rid of deadwood?

–          How easy is it for your foreign employees to get work permits?

–          How stable is the country, politically and economically?

–          Residency requirements- do the country’s business laws require you to relocate to the country before registering your business?

–          How easy are mergers and acquisitions in the country? You might need to sell, merge, or float the business down the road.

–          Availability of suppliers and customers.

–          Laws surrounding corporate governance.

–          Availability of recognized payment aggregators such as Square and PayPal. You don’t want to be forced to use unfavorable local payment processors that may not even inspire confidence in your business partners.

–          Does the country have a Double-Tax Agreement (DTA) with your country? A DTA shields you from double taxation on your income.

 Top 5 Places to Incorporate Your Business

  1.                   The United States

The US is the global leader on so many fronts. First, it is among the largest and most populous countries in the world. Second, its citizens have a higher-than-average purchasing power. Thirdly, on top of having a stable economy, the country has limitless commercial potential in terms of tech adoption. Fourth, being the biggest democracy in the world, the country is more politically stable and progressive. Lastly, although the country is far from perfect, it is made up of people of all kinds of races, religions, and sexual orientations. That gives you access to a culturally-rich labor market.

All the factors above combine to create a thriving environment that supports business growth. However, the United States has 50 states that operate almost like distinct countries. Each state has its own policies and regulations for foreign investors, particularly with regard to tax incentives. You may need a little bit of time to sample different states before picking the most favorable for your business goals.

 2.                Switzerland

Switzerland is very stable economically and politically. The country is also very accommodating, which is why it hosts many refugees from across Eastern Europe. It provides the ideal environment for business sustained growth and development.

It is worth noting that Switzerland is a small landlocked country. To encourage foreign trade, therefore, the country has put in place policies that promote foreign free trade. Import duties here are low and import quotas are few. The country is also known for favorable corporate banking facilities & services as well as impressive grants and tax incentives. Capital gain taxes, value-added taxes, and corporation taxes are all below 8%, which is significantly lower than in most western countries. What’s more, incorporation in Switzerland is so seamless that you can have everything done and dusted within a week!

 

3.                Singapore

The entire Southeast Asian region is prime for international business. The region’s economy is growing steadily thanks to decades of peace and political stability. Singapore is at the heart of this economic growth.

If you want to set a base in the fastest-growing economic bloc in the world right now, Singapore has to be your starting point. For starters, the country has DTA agreements with more than 50 western countries. That makes it the perfect getaway for western businesses. Secondly, the country operates under strict and comprehensive business laws that foster an ideal business environment for foreign businesses to thrive. Thirdly, incorporating a company in Singapore is a breeze considering that there are locally-based companies that specialize in incorporation paperwork. You can conduct the entire process online without ever setting foot in Singapore.

There are no capital gain taxes in Singapore, on top of there being a ton of tax incentives for foreign businesses. Singapore is also quite developed in terms of communication and transport infrastructure, creating a solid foundation for businesses to grow and prosper. The country is home to the region’s best seaport and container ports. Lastly, everyone in Singapore is connected to high-speed internet, which makes it easy for you to manage your business remotely and hire a remote workforce.

 4.              Hong Kong

Incorporating a business in Hong Kong is effortless, not to mention the unlimited business perks that the city has to offer. For starters, Hong Kong presents you with a ready market of almost 7.5 million people. Most of these people are in the upper middle class and have expensive tastes. Secondly, Hong Kong allows foreign business entities to register through e-registration, making the process seamless and convenient. Thirdly, compared to the rest of China, Hong Kong has much fewer restrictions on foreign businesses. The tax regime in Hong Kong is reasonably favorable- you won’t have to worry about sales tax and capital gains taxes, for example. Lastly, Hong Kong has allowed payment aggregators such as Stripe and PayPal, which makes international payments convenient and safe.

 5.                Panama

Panama is home to over 70 international banks that allow foreign investors to move money around the world without being watched by prying eyes. Panama guarantees you and your business partners maximum confidentiality and anonymity in all your business deals. The country is also economically and politically stable and safe. What’s more, Panama doesn’t charge foreign businesses any corporation tax for transactions made outside the country.

 Final word

Incorporating a company overseas can be tedious, but it can also be highly rewarding. The trick is in finding the best available country to set up a shop. We hope that the article has opened your eyes to the endless business possibilities beyond your country’s borders.

 

Need to Rent a Small Commercial Space? The Key Plans
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Need to Rent a Small Commercial Space? The Key Plans

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Businesses of any size that want an office or retail space must sign commercial leases. Initially, this may be an exciting alternative for startups and small businesses.

But you may need to consider a small commercial space for rent. Even if you engage an attorney, you should know the leasing method and issues to consider before signing a lease.

When you find a business facility you like, there are a few things to think about before signing a contract. Listed below is by no means an exhaustive list of such things and a few essential facts:

Why Should You Consider Leasing a Small Commercial Space?

A business lease typically lasts between five and 10 years. The same goes for every small business space for rent. During the lease period, you have the right to use the premises in accordance with the lease. You may move in without making a huge down payment, saving you time and money.

There are several up-front expenses, including legal fees, a broker, a release inspection, and a security deposit. When someone rents a house, they are not responsible for major repairs or maintenance. However, they might have to pay for some minor repairs. For a  small commercial space for rent, less time and effort are required to have a lease authorized than a commercial real estate loan. It allows you to have greater location flexibility. You can leave when your lease is up, even if you don’t sell the house. If you rent a place that would be too expensive for you to buy, you might be able to move into a better area.

What to Look For in a Commercial Space?

If fixing your building isn’t viable, and relocation is your only option, assess your priorities.

1. Accountability With Money

When compared to residential leases, commercial leases provide fewer safeguards to tenants. The landlords must offer safe, decent, hygienic spaces under the habitability guarantee. Residential landlords must also provide heat and hot water.

Retail tenants are exempt from these rules imposed by landlords. Before signing a lease, you should discuss utilities and other costs with the landlord. You may get help from a lawyer and other real estate experts.

2. Business Requirements

Tenants-to-be usually has a wish list, but they still need to determine what’s required and what’s a deal breaker. Write down these three headings and fill them out as completely as possible. You may need specific square footage, can only rent a 20-year-old property, and can’t bear air conditioning. 

3. Is There Anything Specific That Comes With a Commercial Lease?

Knowing what’s included in the contract is just as important as the monthly cost. Small business space for rent varies by how tenants pay shared expenses. There are typically three different kinds of leases:

  • Full-service or gross lease

You, the renter, would be responsible for a consistent monthly payment. The landlord must cover all costs associated with maintaining the building.

  • Net lease

In addition to rent, tenants agree to pay for standard area utilities, property taxes, insurance, utilities, and upkeep.

  • Modified gross lease

This lease combines features of both a gross and a net agreement. The tenant would have a gross lease but be responsible for specific operational expense increases.

Before signing a lease, know the terms and charges. If your landlord wants you to pay specific costs, get estimates to prepare. You can negotiate better terms for your organization. Such as spending limitations to reduce running expenses.

4. What Are the Terms of Lease Renewal?

Typically, a small commercial space for rent lasts five to ten years, as we have stated above. It helps the landlord by assuring occupancy and the tenant by reducing rent over an extended period.

Your company may benefit from the added flexibility that comes with a lease term of one or two years. However, you should be ready to negotiate new conditions when your lease ends. The lease should indicate the renewal time and rate if it has a renewal provision.

If a build-out is part of the lease, you should also know when rent is due and when to tell the landlord if you will renew.

5. What Provisions Govern Lease Modifications?

Your leasing space may need modifications if you run a dentist’s office, pet grooming company, bakery, etc.

Installing bespoke cabinets, carpets, or staff cubicles is a “build-out” condition of retail space for lease. The lease should specify any upgrades’ scope, cost, and payer.

6. What Are the Consequences of Breaking the Lease?

The costs of a lease termination may add up quickly. Depending on your state’s rules, breaking a contract might mean paying rent or eviction.

Ask for a break clause in your lease that outlines early termination and penalties to minimize your risk. If you relocate or sell your company, you should be allowed to transfer and sublet your lease.

7. What Kind of Property Policy Do You Need?

Make sure your lease outlines your insurance requirement. It includes the kind you must have and who makes payments to avoid confusion in case of a lawsuit or loss.

Landlords cover the structure and shared spaces, whereas tenants insure their things. Renovations and additions to the building are also personal property.

A consulting firm that sees customers online may value updated exam rooms more than a medical location.

It’s crucial to get an accurate estimate of your retail space for the lease‘s worth. Your insurance limits should be high enough to cover the expense of replacing your belongings in the event of a loss. You may have to pay for the difference yourself if you go over your insurance coverage.

As the tenant, liability insurance will protect you if an employee or visitor is injured on the property. Furthermore, it protects your organization from legal action.

How Do You Lease a Small Commercial Space?

1. Make a Financial Plan

Having a firm grasp of your financial limitations is an excellent place to start. A budget might help you avoid hasty choices when you fall in love with a location.

Depending on the market, a company’s maximum operating expenditure should go into leasing. Stores should allocate 5-10% of monthly gross sales for rent.

Divide the annual rent by business revenue to predict how much your profits will go toward the lease.

2. Set Your Space Requirements

Size is one of the most important factors to think about when renting a storefront. You shouldn’t spend money on the square footage you won’t use, but you should also have enough room to relax and expand.

A rough estimate of the square footage required is the first step in finding the perfect space for you. It’s important to provide room for your store’s peripheral features, such as:

  • Stockroom
  • Dressing rooms
  • Backstock/storage space
  • Offices
  • Employee space
  • Bathrooms
  • Checkout counter

Now that you know your budget and space needs start looking at rentals. You shouldn’t choose to specialize too early on.

The best way is to list four or five possibilities and compare them. Having more than one choice gives you more excellent wiggle room in terms of price when the time comes to haggle. If you are looking for a piece of land, these are your best bets:

A commercial real estate specialist like Pinpoint can navigate the market and discover good sites. Hiring an agent will make picking a space, complying with requirements, and preparing for closing less stressful.

3. Think About Every Possible Location

Space-wise, you now have a few viable possibilities; you just need to limit them geographically. In general, you should look for retail locations in the following areas:

  • The creation of a safe place 

Customers will not shop at your establishment if they do not feel secure doing so.

  • Where are your clients located?

Locating your company where your ideal customers live, and work has proven effective. The US Census Bureau is a valuable source for regional or local demographics. It’s also possible to attempt counting the people that enter a building.

  • Located near the opposition

Being near the competition enhances the possibility of attracting customers who want what you provide. For startups without an existing clientele, this might be of great help.

  • Close to similar businesses

Businesses in the retail sector, such as cafes, bookshops, and bars, work well together. You can’t go wrong placing a pharmacy or medical clinic next to a department shop selling clothes, and vice versa. Coworking is well suited to temporary or pop-up locations.

4. Review Your Current Lease

When you have settled on a location, it’s time to go through the lease. When you add in the jargon of contracts and leases, this may be a challenging task.

A professional may advise you on what should and shouldn’t be included in the lease, helping you make the best decision for your organization. They will also serve as your landlord’s agent and manage lease negotiations.

5. Lease Negotiations

After reading the lease agreement, you may renegotiate with the selling agent for better conditions. Some of the most typical business lease provisions are listed below:

  • You may negotiate a lower rate, particularly if you plan to rent the property for an extended period. If you plan to be there for a few years, consider concentrating your bargaining efforts elsewhere.

 

  • Ask your landlord whether you may include utilities in your rent. Try to bargain for certain things, like water and sewage, even if they will only agree to have some things.

 

  • It is common practice for landlords to attempt to include a yearly increase in rent according to the CPI or any other index in the lease agreement. Tenants should agree on these increases (or escalations) before signing a lease.

 

  • The standard lease length is one to five years; however, this might vary by state. The prospect of a long-term small business space for rent might be intimidating if you are just getting started. Since renters must pay rent regardless of business success, a short lease period is appropriate. A shorter lease duration will increase the base rent, whether it’s a pop-up shop or a temporary site.

 

  • Since unexpected events happen, examining early lease termination options is a good idea. Consider maintenance, income decreases that might lead to bankruptcy, and environmental damage.

 

  • Business rent often requires up to three months’ rent in advance. As a matter of cash flow conservation, see if you can get a discount for one or two months.

Conclusion

An exciting period for your company may be the search for a commercial lease. It’s in everyone’s best interest to proceed with caution and thoroughness in signing a commercial lease. Investing effort before signing a lease can save you time and stress later.

Exploring the Advanced Features of Outlook for Improved Productivity
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Exploring the Advanced Features of Outlook for Improved Productivity

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Outlook is a powerful and feature-rich email client that can help you streamline your workflow and stay organized. With its advanced features, Outlook allows you to manage multiple accounts, sync contacts across devices, schedule meetings and tasks, and keep track of important deadlines and attachments, and much more. 

In this article, we’ll take a look at the 10 advanced features offered by Outlook that can help you boost your productivity. 

Calendar: 

The calendar in Outlook enables users to keep track of upcoming meetings or events. You can easily view all appointments scheduled within the next week or month, as well as any pending tasks or reminders that need to be completed. You can also set up recurring events with just a few clicks, making it easy to stay organized. 

Contacts: 

The contacts feature of Outlook allows users to store contact information, including phone numbers and email addresses, in one convenient location. It’s also easy to add notes or other information about each contact that you can reference later. You can even sync your contacts across devices, so you’ll always have access to the most up-to-date information. 

Mail Merge: 

Outlook’s mail merge feature is a great way to quickly send out personalized emails to multiple recipients at once. You can set up the basic template for the email in advance and then customize it with individual recipient details when sending out your message. This lets you send out dozens of messages in a fraction of the time it would take to manually compose each one. 

Categories: 

Categories in Outlook make it easy to organize your emails into different groups. You can set up categories for different types of messages (e.g., work, personal, etc.) and assign each email you receive to the appropriate category. This makes it much simpler to quickly sort through all the emails in your inbox. 

Rules and Alerts: 

Outlook’s rules and alerts feature allows users to automatically apply actions whenever an incoming message meets certain criteria. For example, you could create a rule that flags any email from a specific sender as “high priority” or forwards such messages to another address. Alerts are also useful for sending reminders about upcoming events or tasks. 

Search: 

Outlook’s search feature makes it easy to find any email or attachment in your inbox quickly. Whether you’re looking for an old message from a colleague or searching through all the files attached to a particular thread, Outlook’s powerful search engine can help you locate what you need in seconds. 

Signatures: 

In Outlook, users can create professional-looking signatures that are automatically added to each outgoing message. You can customize each signature with different images, fonts, and colors, as well as include contact information and links to your website or social media profile. This way, recipients will always have easy access to your contact details with just one click. 

Archiving: 

The archiving feature in Outlook allows users to store emails and attachments for future reference. This is especially useful if you need to keep track of important documents or messages but don’t want them cluttering up your inbox. You can also use the archive folder as a backup, since it stores a copy of every message you delete from your inbox. 

Quick Steps: 

Outlook’s Quick Steps feature lets users automate many common tasks with just one click. For example, you can create a Quick Step that marks an incoming message as read and then moves it to another folder. This way, you can quickly process emails without having to manually perform each step of the task. 

Sharing: 

Outlook also makes it easy to share emails, calendars, and contacts with other users. This is especially useful for teams who need to work collaboratively on projects or keep each other up-to-date with important developments. With just a few clicks, you can quickly grant others access to the information they need. 

These are just a few of the many features that Outlook offers its users. With these tools, you can stay organized and productive while managing your email communications more effectively. 

Conclusion: 

Outlook is an incredibly powerful tool that can help you manage your email more. With its range of features, you can easily organize and access all the information in your inbox, automate tasks with Quick Steps, and keep track of important messages with rules and alerts. Outlook also makes it easy to share information with colleagues or contacts. Whatever your needs may be, Outlook has the tools to help you stay on top of your email communication. 

 

Retail Space For Lease: Tips to Make Your Property Stand Out
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Retail Space For Lease: Tips to Make Your Property Stand Out

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With tenants’ availability, you can never go wrong with commercial assets, as they can be highly profitable. Shopping centers and office spaces both depend on tenants to survive. But it is not surprising that many property managers and landlords struggle to find tenants for their office spaces. So that’s why there is a high demand for office space for lease on listing websites like Craiglist and Loopnet. Office space tenants and residential space tenants have distinct needs. 

This article will highlight why office rentals seem to be in such a slump and what tenants seek in a business lease. It will also give you some of the effective strategies you can leverage to make your property stand out. Let’s explore!

Reasons Why Office Spaces Struggle to Get Clients

  • The economy has caused businesses to be more frugal. With the economy’s uncertainties, most business owners have had to cut back on spending to save money. Instead of investing in an office space, most pump any extra coin into sales and marketing. 

 

  • Most people are embracing remote work. The Covid 19 pandemic affirmed to most businesses, schools, and other organizations that working from home is possible. Besides, employees and business owners can’t deny the vast benefits of working from home. For instance, they’ll not need to pay a dog sitter or pick up kids from school, as they can do that while still working. 

 

  • It’s not easy for business owners to get their staff to return to the office. Business owners have lost the negotiating power to persuade employees to return to the office during the hiring process. Today, employees have access to many jobs that don’t require them to go to the office. So they can always change jobs if they feel obligated to work on-site. 

So how can you ensure your small commercial space for rent stands out in the market? Here are some valuable strategies you can leverage to help rent out your office space to more people. 

1. Ensure the Location Is Irresistible

The location of your retail space for lease should be a priority to attract tenants. Most tenants struggle with the perfect location that’s suitable for their businesses. This is because they require a location that customers can access with a lot of ease. Because at the end of the day, they’re a business, and they’re looking to close more customers. 

So ensure your retail space for lease is in a more desirable location. But to maximize the area, you should also consider having well-planned interior spaces. Therefore, working with commercial space for rent experts is essential to help you pick the best location for your investment property. 

One of the critical factors you can leverage is to ensure there are available amenities that can help support your business. This will show potential tenants that renting your retail business is beneficial. 

Ensure your small commercial space for rent attracts businesses that complement each other. For instance, you could place a shoe store adjacent to a collection of clothes retailers. Also, consider transportation facilities so that they can cater to tenants who have clients from different states. You could also place a popcorn stand next to a movie theatre. 

Those, as mentioned earlier, are a few examples to give you an idea of attracting tenants. The potential tenant is more inclined to sign the lease once confident that they’ll be located in a prime area. 

2. Offer Reception Service Assistance

You need to ensure you offer benefits that work-from-home individuals will find irresistible. The offers should be something they can’t get on their own, or they could be costly for their businesses. This is an effective way to lure tenants into leasing your property. 

You can take advantage of the explosion of customer service assistance incentives. You can employ a full-time receptionist who can help to welcome your guests in the lobby and answer and transfer crucial calls on behalf of the tenants. 

Most tenants would leverage such services, as it would help them cut costs. Besides, depending on your budget, consider outsourcing virtual receptionist services instead of hiring a full-time receptionist. 

At the end of the day, you’re looking for a practical incentive to attract more tenants to your premises. Therefore, it doesn’t matter if they’re virtual or full-time. All they need to do is ease mundane business aspects for your tenants. 

3. Provide Security on Your Retail Space for Lease

Security is vital when it comes to retail spaces. Therefore, you will need to invest in various security measures to attract high-value tenants. 

For instance, you should invest in security cameras, biometric access, guards, etc. to boost the security of your premises. Doing this helps potential tenants feel more at ease and safe on your premises. 

Moreover, tenants who work around the clock will appreciate the heightened security measures of your retail space. Besides, this will come in handy for tenants in your office space who work during odd hours. Also, it will be a good idea to hire more security personnel to give confidence to your tenants about their security.

Additionally, ensure the property management company you use is proactive regarding addressing security issues. 

According to studies, shoplifting crimes are prevalent. It is one of the most visible aspects of crime, with an estimated 200 million occurrences per year. When broken down, that equates to a startling 550,000 incidents per day, or nearly 23,000 incidents per hour. Therefore, you or your property manager shouldn’t be lenient when dealing with security issues.  

4. Include Shared Amenities on Your Property

You can decide not to rent some areas of your business property. It is easier for you to convert such spaces into communal areas to add more value to your property. For instance, you could use the spaces for cafeterias, conference rooms, etc. 

If most of your tenants or potential tenants are parents, you can decide to convert the basement of your small commercial space into a daycare facility. And if you choose to offer on-site food, ensure the menu is diverse depending on your tenants. 

Also, coffee is a necessity for most people. So it can be an excellent addition to having a coffee shop on your premises. Remember, the idea here is to ensure your retail space for lease stands out from your competitors. Therefore, even a Keurig machine and an excellent selection of coffee and creamers will add a lovely touch to your retail space. You can also provide hot water for tea or hot cocoa. 

5. Install an On-site Gym in Your Small Commercial Space for Lease

Another intriguing incentive that you can leverage is offering a free on-site membership. This is a great way to motivate people to return to the office since most people are becoming more aware of the importance of staying active. 

You can install a simple workplace gym. The best way is to shop for affordable ways to convert, say, a 300-square-foot office into a gym. Besides, you don’t need to buy new equipment. You can invest in just a few types of workout machinery that have been used but are still in excellent condition. 

Go ahead if you can afford to convert a small area of your retail space into a gym. This is because most people want to be fit and can always use the gym after working hours before heading home. To them, it’s more about accomplishing their fitness goals without driving miles away in search of a gym. Make it so cheap that they won’t hesitate to accept the offer. 

6. Offer Building Wi-Fi and Printing Services

Hotels understand how valuable printing and copying are to their clients. As a small business space for rent owners, you can decide to offer printing and copying services to your tenants. 

This is a valuable incentive for businesses that don’t have a business printer at home or whose maintenance is expensive. 

Moreover, you can also provide Wi-Fi to your tenants, as this is one item business owners can’t live without. So ensure you offer your commercial tenants high-speed internet that can cater to their daily needs. Doing this will help attract them to your retail space. Everyone is looking to save money and maximize profits, so shouldering Wi-Fi fees is a valuable incentive.

Besides, the best option is to ensure you sign up for a business broadband connection. This is a preferred option as it offers customer service and support 24/7. Therefore, it will not inconvenience your tenants to wait until morning if the connection goes down in the middle of the night.  

Also, for security purposes, you can install a different Wi-Fi for guests. Your tenant’s Wi-Fi needs to be secure, as they’ll use it for work. Furthermore, having everyone access Wi-Fi may be detrimental to their business due to increased cyber-security concerns. Tenants would perceive you as thoughtful, and as a result, they would trust that your retail space has their best interests at heart. 

Final Thoughts

No landlord wants to have a single unit empty. It becomes more frustrating if most of your units are not moving. So as a small commercial space owner, you want to ensure your property doesn’t sit empty for an extended period. 

If you want to attract tenants to your retail space for lease, you need to ensure your property stands out. The above tips are ways to cut through the abundance of retail space available in the market. Your location, shared amenities, workspace gym, security, Wi-Fi, and printing services are some of the tips you can leverage. They may seem obvious, but these can be game changers for your property. So leverage the ones that you know will fetch tenants for your property.

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7 Ways to Improve Page Load Speed

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Have you ever heard the tale of the hare and the tortoise? You know, the one where the slow turtle triumphed in a race over the arrogant, speedy rabbit? Well, it’s a lie. Going slow never got anyone anywhere fast. That’s just common sense and good business.

OK, you got us. You can reap the benefits of taking some things slow, like eating, aging, and walking down precipitous stairs while bringing swords. But when it comes to SEO, there’s nothing worse than going slow.

So get ready because it will be a high-speed ride to higher rankings.

Why Is Having a Fast Website Important?

Would you rather wait more than two days for your parcel, send snail mail instead of a text message, or twiddle your thumbs waiting for a website to load? No one in their right mind would want to do that. Who has time for that? Certainly not your prospective customers.

Faster-loading pages boost your site’s performance, increase Google PageSpeed Insights and GTmetrix scores, and rank better in search results. 

But exactly how much does page speed affect SEO? A slow-loading page speed can lead to:

  • A 7% decrease in conversions.
  • 11% fewer page views.
  • A 16% drop in customer satisfaction.

And with every second, those numbers become more and more appalling:

How Can I View My Page Load Speed?

Several online benchmarking tools measure page load speed. They can also show you how big and resource-intensive your site is and suggest refinements. Best of all, you can use them all for free.

  • Google PageSpeed Insights conducts separate tests for desktop and mobile, differentiating load time into different stages.
  • GTmetrix gives an overview of the size, page load time, and resource allocation, just like YSlow.
  • Pingdom offers a similar service to GTmetrix.
  • WebPageTest is a bit less user-friendly than the others but tends to be more insightful. Of note are its advanced options, which consider how a site performs in different browsers.

When running these tests, select test locations closest to your audience’s physical location, as this will give the most relevant results.

Now that you know your site’s page load speed, let’s see whether you’re clocking a reasonable time.

How Fast Should My Website Load?

Generally, your pages should completely load in three seconds or less.

If your speed is around three to five seconds, you’re not entirely in a bad place, but your pages are performing less favorably than expected by today’s mobile-first standards. Anything over five seconds is considered poor. But no matter how fast your site loads, it could always benefit from a boost.

You should also pay attention to your time to first byte (TTFB). (WebPageTest and PageSpeed Insights show this data.) TTFB is the period browsers wait before they accept the first byte of data from a server. Google suggests a TTFB of 200 milliseconds or faster.

Here’s more insight into page load speed goals:

  • Pingdom found that most pages load in under 3.21 seconds, on average.
  • Google says 53% of users are only willing to wait three seconds for their phones to load before moving on to another website.
  • Akamai found that the average mobile page load speed of 2.4 seconds leads to the best conversion rate.

But how can you improve your page load speed to attain the goal of three seconds or faster?

What’s the Best Way to Boost Page Load Speed?

Several factors can affect page load speed. Some strategies can be done right away and have an immediate effect. Others will take time and testing to see the benefits.

Here are some of the best methods:

  1. Enable gzip compression.
  2. Optimize images.
  3. Turn on browser caching.
  4. Minify HTML, CSS, and JavaScript.
  5. Lessen HTTP requests.
  6. Reduce server response time.
  7. Consider implementing a CDN.
    Bonus: Make WordPress-specific improvements.

On your mark! Get set! Boost!

1. Enable gzip compression.

Compression decreases the size of your files, allowing faster downloading. It’s one of the simplest and fastest ways for page load speed optimization. Using gzip for compression is almost a norm, though Brotli is an alternative but popular method. When enabled, gzip can bring down the size of HTML, CSS, and JavaScript up to 70%. (Run a gzip test to see whether you have it enabled.)

Most WordPress all-in-one performance plug-ins grant you the option to enable compression automatically. You can manually enable compression by adding some code to your .htaccess file for those who are more hands-on or using a different CMS.

2. Optimize images.

Some of the typical culprits contributing to large page sizes are images. Generally, your pictures should be adequately sized and optimized according to the following:

  • Under 100 kilobytes.
  • Set to the exact size the picture will be shown.
  • Saved as JPG (unless it’s transparent, in which case use PNG).

With image compression comes a notable decrease in quality, so don’t let your desire for faster load times adversely affect the quality of your website’s design. But at the very least, if your website has a 600-pixel width, for example, don’t upload a picture that’s 2,500 pixels wide.

Optimize images before uploading them using Photoshop (paid) or GIMP (free). For added compression, you can also utilize an online optimizer such as TinyJPG. If you want another option and use a CMS like WordPress, Smush and EWWW Image Optimizer are good backup plug-ins. Some plug-ins also grant you the ability to enable a “lazy load” feature that gives priority to above-the-fold content and only loads your pictures when a visitor scrolls down — drastically reducing requests your server receives.

3. Enable browser caching.

When visitors return to your site, their browser redownloads files like scripts, images, and style sheets — unless you’ve enabled browser caching.

With browser caching, static files are saved on the user’s browser. So the next time they access your site, they don’t need to download anything again, so your page loads much faster.

If you’re using WordPress, caching is relatively easy. Plug-ins like WP Rocket and W3 Total Cache guide you through all the needed steps and set it up for you. Just make sure to use only one of these plug-ins at one time. Also, enabling caching manually is a bit more complicated.

4. Minify HTML, CSS, and JavaScript.

Minification removes redundant or unnecessary code without affecting performance. This includes eliminating code comments, lengthy function names, spacing, and so on — all things that aren’t visible to the user but weigh down your load speed.

WordPress plug-ins like WP Super Minify, WP Rocket, and W3 Total Cache are ideal for novice web developers to achieve minification. You will need to perform manual minification for other CMS and advanced admins. Some tools that can help are:

  • HTML Minifier.
  • YUI Compressor or CSS Minifier.
  • JSCompress or JSMin.

5. Reduce HTTP requests.

This is a big one. Although it can get tricky, don’t let it scare you. Reducing requests is the ultimate goal of page load optimization. You should try to keep the number of HTTP requests below or around 50.

There are a lot of methods to streamline these requests, as well as speed them up.

6. Reduce server response time.

Changing servers is something you should do with seriousness and on the fly. But your hosting server plays a crucial role in load time, so knowing whether you have the best setup goes a long way.

Above all else, consult with your provider to ensure your servers experience sufficient uptimes, give enough bandwidth, and are located close to your target audience. If not, consider switching to a different hosting service.

Some other vital things to consider:

  • PHP version
    If your site is PHP-based, you should use PHP 7 or higher. The easiest method to learn which PHP you’re using and which needs to be upgraded is by calling your hosting provider. But please remember that changes in PHP can affect some WordPress themes and plug-ins. You can quickly reverse your server’s PHP if anything seems faulty.

     

  • HTTP/2
    HTTP/2 is a server-side protocol that can vastly improve site speed and efficiency. Not all sites utilize HTTP/2 when they can. You can use various online tools to check whether your server can support HTTP/2. Then, contact your hosting provider to know what options you have.

     

  • Hosting type
    Most small businesses use cheaper shared hosting servers (like Bluehost, GoDaddy, and HostGator). Larger enterprises that see lots of site traffic typically need more powerful virtual private servers or direct servers to distribute their content. Decide which category you fall under using your budget and performance as metrics.

7. Consider implementing a CDN.

Content delivery networks are perfect for pages that serve many international locations or are looking for a speed boost to their regular hosting service. These third-party paid services not only give you HTTP/2 support, but also vastly reduce request times by hosting your files across an extensive network of global servers.

Some unique CDN options include:

  • Cloudflare.
  • StackPath.
  • CacheFly.
  • Google Cloud CDN.

Only some sites need a CDN (despite what GTmetrix might suggest), so we recommend executing the other strategies on this list first. Consider CDN a feasible option if your load times still need to catch up.

Bonus: WordPress-Specific Improvements

Other factors could contribute to your page load time if you use WordPress. You’ll want to address these issues along with the other methods listed above.

Reduce plug-ins.

Plug-ins are fantastic and can do a lot to enhance the speed of your site. But using the wrong plug-ins can have an adverse effect, and too many plug-ins installed can cause issues, drastically slowing down your site’s performance.

That’s why it is essential to:

  • Routinely update and maintain your plug-ins.
  • Routinely remove any unnecessary or unused plug-ins.
  • See whether there are lighter or faster alternatives.
  • Identify plug-ins with redundant functionality.
  • Remove plug-ins for tasks you can easily do manually.

For example, suppose you have a Google Analytics plug-in installed. In that case, you’d be better off adding the snippet by yourself, through Google Tag Manager, or through the Insert Headers and Footers plug-in (which is much smaller than the former).

To help locate issues, an excellent plug-in assessment tool like Page Performance Profiler can identify which plug-ins are taking a toll on your page load speed. (Don’t forget to remove it when you’re done.)

Clean your database.

Over time, WordPress databases can get bogged down by saved drafts, post revisions, and other stuff your website doesn’t need to function. Occasionally cleaning this clutter can help boost your site’s speed. Some all-in-one performance plug-ins also have this capability (similar to WP Rocket), or you can utilize the WP-Optimize plug-in.

Update CMS and theme.

Ensure you’re always using the latest versions of your theme and WordPress install. (Don’t forget to back up your site before doing so.) If your site is still sluggish after updating and making all the changes above, you might consider trying a new theme entirely. While themes make your site look better, they can bring a lot of baggage that can bog down your site.

Fast Page Load Speed Is More Essential Than Ever

If you happened to miss it, Google is entirely mobile-focused these days. And it’s not about to shift any time soon, so your pages must load as quickly as possible.

We all have short attention spans — and they’re only growing shorter by the second. If your page doesn’t load quickly, plenty of cat videos can and will. So what are you waiting for? Now is the time to start! Implement these page speed and page experience improvements right now because SERPs wait for no one.

Danny Shepherd is co-CEO of Intero Digital, a 350-person digital marketing agency that offers comprehensive, results-driven marketing solutions. Danny has more than 20 years of experience directing paid media strategies, optimizing SEO, and building solutions-oriented content and PR. He leads a team of experts in web design and development, Amazon marketing, social media, video, and graphic design.

Visual Marketing: How your Website's Imagery can Attract your Perfect Buyers
Archives, Education, Global Trade Daily, Technology

Visual Marketing: How your Website’s Imagery can Attract your Perfect Buyers

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Business owners like you are always looking for ways to effectively attract their ideal buyers. In a cluttered and distracting online world, it helps to remember the old adage that a picture is worth a thousand words. 

You may not be able to hold your perfect buyer’s attention long enough for them to read 1,000 words about your product or service but, with the right website imagery, you don’t have to. The right images can meaningfully boost your conversion rate, so taking the time to choose or create the right imagery is very important when setting up a website for your company.

In this article, we’ll cover exactly how you can strategically use website imagery to attract your perfect buyers and get more conversions.

Evoking the right emotions can encourage people to click ‘buy’

If you can inspire the right emotions in your target audience, they’ll be far more likely to click that checkout button. Emotions can play an important role in shopper behavior, as most of us know from our own experiences of impulsive shopping. Merchandisers in brick-and-mortar shopping environments work hard to evoke emotions that compel people to shop, such as excitement, joy, or aspiration. And, the same techniques can be applied to websites through the effective use of imagery. 

For example, images of people looking joyful using your products can excite your perfect buyer, or images of people looking distraught because of a problem that is addressable with your product can make your perfect buyer feel understood. 

To get an idea of what this looks like in action, take a look at one of IKEA’s holiday homepage images.

As a furniture and home goods retailer, they use this image to tap into the warm, cozy feeling of being home around the holidays. Their own products are incidental in the image, since the focus is on the little girl decorating the gingerbread house. However, the image likely inspires shoppers to make their home cozier in time for the holidays, which they can do with some new IKEA purchases. 

For another example, check out the images that the dance fitness company Zumba uses on its homepage. 

Since their primary product is exercise videos, they use images that tap into the feeling of being energized and enthusiastic, which is exactly what their product is designed to help people do. Those who want to experience a fun, joyful exercise class will be enticed by the emotions conveyed in the image.

Humanizing your business will help you forge stronger connections

People don’t want to feel like they’re spending their money with a faceless corporation. Instead, they want to know they’re supporting real people. Images can help put a human face to your business, reminding your perfect buyer that there are real people on the other end of the transaction. 

Displaying images of your team can offer an excellent way to do this. Whether you include headshots of everyone or action shots of people at work, you’ll help buyers relate to a more humanized version of your business. 

For example, take a look at the About Us page on the website of The Tinker Law Firm PLLC.

If you experience the misfortune of having a medical malpractice experience and are seeking legal representation for your case, you’ll be far more likely to feel connected to a firm that includes images of its team who can assist you. For a law firm, professional headshots are perfect for this, as they show that the people behind the company are experienced, intelligent, and ready to help. This will then ensure prospective clients feel comfortable reaching out. 

For other businesses, a different approach to team images might be better suited. For example, take a look at how Option One Plumbing showcases its team.

If you’re having a plumbing emergency, you probably want to contact a team that looks ready to jump into action to come help you. This image humanizes Option One Plumbing by showing the many people on whom their clients depend to fix plumbing disasters, but it also conveys preparedness, which will further help attract their perfect buyer.

It’s much easier for a shopper to feel a stronger connection with a brand after getting a behind-the-scenes glimpse of the people who make it a reality, than if the only image they have to connect with is a logo. In turn, they’ll also feel better about buying from you, because most customers want to feel they are contributing to the livelihood of a team rather than just lining corporate coffers. 

Use imagery to show exactly how your products or service work

Shoppers like making informed choices, and imagery can convey a lot of information quickly and effectively. For some products or services, it makes a lot of sense to demonstrate how they work through imagery rather than with descriptions. 

Product photography is the classic example of this: product photos have come a long way, with eCommerce brands cluing into customer preferences for more detailed product shots, resulting in higher conversions.

A level up from static images with respect to the amount of information conveyed, GIFs and graphics can show your product in motion, which can be compelling to buyers.

Finally, lifestyle photos of your products being used can provide buyers with more information about how the product can fit into their day-to-day lives.

The more accurate a customer’s understanding of how your product or service works, the less likely they are to have unpleasant surprises when they get it, and the fewer returns you’ll experience. Additionally, when they receive your product and it matches their expectations, you will establish a great foundation for customer trust and loyalty. 

For some products, such as software, animated GIFs can be particularly enriching. For example, take a look at how ActiveCampaign demonstrates their sales CRM. 

On the service page, a GIF goes through the key actions a customer might carry out when using the CRM software. Someone just landing on this page might not feel inclined to watch a lengthier instructional video, so a quick GIF very quickly conveys exactly how the product works, encouraging prospective buyers to learn more or test it out themselves. 

Mobility aid company Stander provides another example of how images that show how a product is used can push buyers along the path to conversion.

 Since they have a variety of mobility aids, someone new to the product category might feel overwhelmed by the options. But, thanks to images that demonstrate how each product category can help, website visitors can identify the product for their needs at a glance. 

Help website visitors to imagine themselves using your products or services

If customers can visualize themselves using your product or service, they’ll be more compelled to make the purchase. 

One effective way to make this easy is by using images of people who represent your target audience using your products. The key is to use “real” people rather than aspirational, unrelatable models because most people are far more likely to feel connected to the former. 

In your imagery, consider using people of different ages, sexes, and backgrounds. Depending on what your product or service is, it may make sense to use models who look like they have a certain hobby or profession that your perfect buyer has, too. 

A good example of this in action comes from Aura Systems, who make aura cameras and software. 

In this case, the image they’ve chosen to demonstrate their product will help young women interested in photography, auras, and chakra readings to recognize that this product is great for them, and to envision themselves using it.

Another tried and true method that many startups use to boost sales and ensure website visitors can imagine themselves using their products is by using UGI, or user-generated images. Since UGI features real customers and comes off as more authentic than staged images, it tends to be highly relatable. 

Clothing brands especially benefit from this type of imagery, since people want to see what clothes will look like on those with similar body types. For example, ASOS uses the hashtag #AsSeenOnMe to collect UGI that features on their website. 

In addition to UGI, another surprising approach that can work well for helping customers imagine themselves using your products is by providing content that features your  business owner or other members of your team using it. 

For example, take a look at the Cobalt Intelligence blog. 

This type of content and imagery goes beyond just using staff images to humanize your business; by showcasing a relatable member of your team walking them through using your product or service, it encourages visitors to see themselves using it too. And, after all, who understands the intricacies of your products or services more than those who’ve created them? 

Use visuals to show off your company’s personality

Images can also be an effective tool for conveying the unique personality of your business. Showing off your personality makes your company unforgettable and makes it easier for your perfect buyers to feel connected to it. Just as people with vibrant personalities tend to stick in our minds, brands tend to do the same. 

The right personality to convey through your images in order to attract your perfect buyer will depend considerably on what your business does. For example, a kids’ toy company will probably want to convey a happy, colorful personality, while a law firm should be polished, professional, and trustworthy. 

Toys “R” Us lives up to the happy, playful personality expected of a toy company through its use of colorful and child-like doodles. This shows that you don’t necessarily need photographic images to convey your personality; illustrations can also do the trick

imagery

When choosing images to showcase your personality, start by brainstorming what you want to convey. Once you have a few words that are strongly associated with your brand, look for images that relate to those words for you. If you can work on this with a team, you’ll have the best chance of coming up with images that accurately convey the right personality for your brand. 

If you succeed, your perfect buyer will be able to glance at your website and immediately understand your personality. For example, take a look at the fine jewelry website Mejuri.

imagery

The visuals effectively convey an unexpectedly fresh and youthful personality that isn’t typically associated with fine jewelry. It’s something that is sure to appeal to their target audience of young women, and it shows that the brand is simple, elegant, and classically stylish. This is sure to encourage the right people to make a purchase. 

Final words

Attracting your ideal buyers is an ongoing goal for all businesses, and the power of imagery in helping you reach this goal shouldn’t be overlooked. 

From evoking emotions and humanizing your business to showcasing how to use your products and conveying your personality, the right images can do a lot of heavy lifting to ensure your website converts like a charm.

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Cities With the Largest Increase in New Business Applications Since COVID

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The COVID-19 pandemic has been particularly hard on small businesses, which are estimated to employ nearly half of all American workers. A recent Federal Reserve Bank study noted that the pandemic caused an additional 200,000 businesses to close their doors last year, with small businesses comprising the bulk of the difference.

However, it hasn’t been all bad news for the nation’s small businesses. A real-time survey of business applications conducted by the U.S. Census Bureau offers encouraging results: the increase in business shutdowns combined with changes in consumer preferences created gaps for new entrants to fill, resulting in a strong resurgence of new businesses. Between 2019 and 2020, there was a nearly 25% increase in new business applications, and that increase has held relatively steady through 2021. About one-third of current applications are considered “high-propensity applications,” or those with a high likelihood of turning into a business with payroll.


At the industry level, the increase in new business applications is being led by the retail trade sector of the economy. When comparing the number of applications from 2019 to 2020, retail trade applications increased by 59%, followed by the transportation sector which increased nearly 35%. Further, the largest percentage increases in applications were more likely to occur in those sectors already generating the highest number of applications overall. Together, this indicates the start of a robust trend for total small business creation in the economy.

While total business applications grew markedly since the beginning of the pandemic, the strongest increases appeared in the Southeast. Mississippi, Georgia and Louisiana lead the nation with application increases of over 55%. Yet, not all states fared well, as Alaska and North Dakota each saw small, single-digit percentage decreases over the same time period. At the metro level, those reporting the largest increases in new business applications are also found in the Southeast, with a handful of locations in Texas and the Midwest also ranking highly.

The data used in this analysis is from the U.S. Census Bureau. To determine the locations with the largest increase in new business applications since COVID-19, researchers at Self Financial calculated the percentage change in new business applications from 2019 to 2020. In the event of a tie, the location with the higher total change in business applications from 2019 to 2020 was ranked higher.

Here are the large U.S. metropolitan areas with the largest increase in new business applications since the start of the pandemic.

 

Metro Rank Percentage change in business applications (2019-2020) Total change in business applications (2019-2020) Total business applications in 2020 Total business applications in 2019
Memphis, TN-MS-AR    1    +77.7% +11,554 26,431 14,877
Atlanta-Sandy Springs-Alpharetta, GA    2    +56.8% +73,365 202,603 129,238
New Orleans-Metairie, LA    3    +55.6% +10,659 29,830 19,171
Cleveland-Elyria, OH    4    +54.5% +11,302 32,045 20,743
Chicago-Naperville-Elgin, IL-IN-WI    5    +49.7% +51,394 154,758 103,364
Detroit-Warren-Dearborn, MI    6    +48.9% +26,947 82,098 55,151
Milwaukee-Waukesha, WI    7    +37.6% +5,773 21,127 15,354
Houston-The Woodlands-Sugar Land, TX    8    +37.4% +32,185 118,183 85,998
Charlotte-Concord-Gastonia, NC-SC    9    +35.3% +11,879 45,487 33,608
Birmingham-Hoover, AL    10    +35.3% +4,070 15,593 11,523
Virginia Beach-Norfolk-Newport News, VA-NC    11    +35.0% +6,683 25,783 19,100
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD    12     +33.4% +25,103 100,265 75,162
Riverside-San Bernardino-Ontario, CA    13    +32.2% +10,944 44,887 33,943
Fresno, CA    14    +32.1% +1,782 7,332 5,550
Jacksonville, FL    15    +31.8% +7,537 31,202 23,665
United States    –    +24.2% +848,210 4,356,870 3,508,660

 

For more information, a detailed methodology, and complete results, you can find the original report on Self Financial’s website: https://www.self.inc/blog/us-cities-increase-in-new-business-applications