How IT Managed Services Can Boost Your Business And Result In Profit

Every business organization faces some or the other problems every now and then. Dealing with these troubles on a regular basis can consume a lot of the company’s time, resources and money. One of these problem areas which an organization is likely to face is IT problems. IT difficulties such as constant repair requirement, threat to security of networks and faulty software and hardware can mean spending of extra sums of money on something which can be dealt with quite easily. Yes, there are many IT managed service providers who can provide large or small business IT consulting, computer sales, computer repair and many other such IT related services. Let’s read about how IT managed services can boost a business and help it survive in the long term:

• An IT managed service provider can help in software and hardware related services, computer repair and re installation services and also offers discounted rates of computer sales if you hire it on contract basis. This can greatly reduce your IT related stress and may encourage you to focus on the business goals.

• Another reason how an IT company or a small business IT consulting company can boost your business is by improving overall IT performance which thereby boosts the overall office or work productivity. Strengthened systems and networks mean less time wasted on repair and troubleshooting which thereby results in better profits and improved efficiency.

• If your small or large sized business needs some kind of advice or help regarding IT matters, then the IT service providers can offer consulting services and guide you in the right direction in terms of the equipments to be installed, data backup methods to be utilized and how the network should be monitored.

• Once you hire an IT managed service provider, you can be rest assured that all your IT issues are well taken care of and that you do not need to waste your own time on resolving these problems. This gives you a certain peace of mind and gives you an opportunity to focus on what is really important for you, which are your business goals. This automatically means better revenue for the business and ensures its long term survival in the market.

• Small business IT consulting is an effective way to keep in touch with modern day and advanced technological methods and keeps you well ahead of other companies as far as business growth and development is concerned.

Now that you are aware of the several ways in which an IT service provider can help you, there must be no doubt left in your mind about hiring one or outsourcing the services. So what are you waiting for, go boost your business!

Advantages of the Online Auction Business Model

Online auctions have become a popular way for many people to make money. The online auction business model includes one party that sells products and services, while another party bids to purchase them.

There a number of advantages of this online auction business model. A few of them are listed below.

No geographical limitations: This is a strength of the online auction business model that is inherent by the fact that it is “online.” The Internet allows sellers and bidders to participate in online auctions from anywhere in the world. A seller in Japan can put up a doll on an online auction site that can be bid on by bidders that reside in the U.S. The “cost” of participating in an auction is essentially zero. This advantage also increases the number of products and services that can be listed, leading to an increased number of sellers and bidders.

No time constraints: Items can be posted on auction sites at any time of the day, and bids can be made on items any time of the day as well. And since items are listed for usually one to 10 days, potential bidders have a lot of time to ponder their bid.

Many bidders: Since online auctions allow for the potential to find a wide variety of items at lower-than-retail prices, it draws many consumers to try their hand at getting a bargain through an online auction. The ease of the bidding process also attracts consumers, who can bid from their computers in the comfort of their own home.

Many sellers: On the other hand, the potential to sell items at higher-than-retail prices also draws many sellers. Selling their items through online auctions also reduces their selling costs, and is also very simple and easy to do.

Joy of winning: Part of the fun pertaining to the entire bidding process is seeing whether or not you will “win” the auction and get the desired item. This aspect of the online auction process attracts many bidders who find the win just as rewarding as the

Advertising As A Tool Of Communication

Advertising is a form of mass communication with the public. It is usually one sided i.e. from the company to the buyer/potential user of the product. It is a form of communication that typically attempts to persuade the potential customers to purchase or consume more of a particular brand of product/services. As rightly defined by Bovee, “Advertising is the non-personal communication of information usually paid for and usually persuasive in nature about products, services or ideas by identified sponsors through the various media.”

Advertising an important tool of communication is use to promote commercial goods and services, it can also be used to inform, educate and motivate the public about non-commercial issues such as AIDS, Don’t drink and drive, Polio, Save water, electricity, animals and trees etc. “Advertising justifies its existence when used in the public interest – it is much too powerful tool to use solely for commercial purposes.” – Attributed to Howard Gossage by David Ogilvy.

Advertising is most effective with products that can be differentiated from similar products based on consumer accepted quality difference. Tom Egelhoff has classified advertising in 6 types, i.e. for company image, name brands, advertising service instead of a product, business-to-business advertising, co-op advertising and public service advertising. Television, Radio, Cinema, Magazine, Journal, Newspaper, Video Game, Internet, Billboard, Transit Cards, Sandwich Board, Skywriting are the different mediums used to deliver the message. The companies choose the method according to the cost, budget, target audiences and their response. However, word of mouth advertising/ personal recommendations is an unpaid form of advertising which can provide good exposure at minimum cost.

Various new forms of advertising are growing rapidly. One of them is Social Networking Advertising. It’s an online advertising with a focus on social networking sites and use of the internet/ World Wide Web in order to deliver marketing messages and attract customers. The other is E-Mail advertising; E-Mail Marketing is often known as “opt-in-email advertising” to distinguish it from spam. “I believe ‘credibility’ is one of the biggest issues yet to be addressed by Internet advertisers. Everyone has their eye on ‘privacy’ as a critical concern, but credibility will be far more enabling or disabling to website profitability. A company can have a web presence and, unless the brand name is familiar, consumers have no way of knowing whether it’s a big company, a small company, an honest company, or a single scoundrel. I may be worried about my personal data being disclosed in violation of my privacy, but I’m far more concerned about whether or not the person or company with whom I’m dealing is reputable. Can I believe their claims? Will I have a recourse if something is wrong with the merchandise? Credibility no longer is strictly a brick-and-morter issue. I can’t judge someone by their place of business, when I conduct that business on the Internet. I can’t grasp a hand and look into their eyes to judge their veracity. Credibility is a huge issue.” – Jef Richard.

For a message to be effective keep it short, simple, crisp and easy to absorb. It is essential to translate the products/services offer into meaningful customer benefit by advertising and to build awareness and generate response. REMEMBER: – THE AIDA MODEL -ATTENTION, INTEREST, DESIRE AND ACTION.

In the modern scenario, most of the companies outsource their advertising activities to an advertising/ad agency which is a service business dedicated to creating, planning and handling advertising and sometimes also performs other forms of promotion like public relations, publicity and sales promotion for its client. Departments of the advertising agency includes: – The Creative Department (who creates an actual advertisement), Account Service (who is responsible for co-ordinating the creative team, the client, media and the production staff), Creative Service Production (here the employees are the people who have contacts with the suppliers of various creative media), Other department and Personnel. (like public relations). As said by David Ogilvy once that the relationship between a manufacturer and his advertising agency is almost as intimate as the relationship between a patient and his doctor. Make sure that you can life happily with your prospective client before you accept his account.

Thus, I would conclude by the famous words of Bruce Barton (1955), “Advertising is of the very essence of democracy. An election goes on every minute of the business day across the counters of hundreds of thousands of stores and shops where the customers state their preferences and determine which manufacturer and which product shall be the leader today, and which shall lead tomorrow.”

Advantages and Disadvantages of Online Auction Sites

Characteristics of a Good Online Auction Site

o Site must have prominent privacy policy that guarantees that the site will provide secure link when a customer enter credit card details and do not sell customer information.

o Very clear defined policies and procedures must be enacted upon when and if any wrong transaction occurs.

o Rating of buyers and sellers facilitate the identification of sellers who do not exist to the end of bargain.

o Fees and commissions must be mentioned on the site. Most of the sites do not charge any fees from bidders but sellers often have to pay small fees for listing the items and commission on selling any item. So the bidders must compare online auction sites for the fees and commission rates to get an idea of the current rates.

o A good online auction site must have escrow services option such as PayPal. These services make the selling and buying more quick by preventing buyers and sellers from becoming intermediary. The buyer can directly send the small fees and payment to the escrew service, after receiving funds escrew gives instruction to sellers to ship the goods. When buyer receives the goods in acceptable condition, funds are transferred to seller via escrew service.

o A good online auction site must have the international payment and shipping option. Commercial sites support international sales.

Advantages of Online Auction Sites

Online auction sites offer several advantages:

o Online auction sites do not stop businesses to carry on sales of product through traditional sales method.

o An online auction site also reduces the distribution cost of a product. It can be stored at one place till it is ready for shipping. It will also reduce the packaging cost of items for distribution to intermediaries such as retail stores. It will also protect goods from damages and keep them safe.

o Online auction also helps small businesses to sell their seasonal, discontinued or damaged goods often with profits and eliminate the inventory expense to store them.

o Online auction sites open the door of international markets for small businesses and help to expand global market. That is nearly impossible to achieve via normal marketing channels.

o Online auction sites also help new businesses that offer new products and it becomes easy to set a market price based on supply and demand.

o These sites also help to find out what customers are willing to pay without doing time-consuming expensive market research.

Disadvantages of Online Auctions

Online auctions do not provide buyers with an option of personally viewing and evaluating items before purchasing. This may lead to the possibility of fraud.

Another major drawback is that it is also not possible for every business to take part in online auction. Companies have to host their own auction websites and for this purpose they have to hire trained technical staff.