The Importance of Collecting Reviews from Customers

Production is about meeting an identified need of consumers. It’s not about the producers per se, but more about how the targeted consumers feel their needs met. As such, manufacturers, wholesalers, and retailers of any product or service have to put the satisfaction of their final consumers in mind. Reviews represent one potent way of determining whether producers and sellers of items have met their clients’needs.

Reviews can be written or oral, and it represents customers’judgment of the product or service they have just paid to receive. Admittedly, some customers’opinions or analysis can be unfair, false, or misinformed. Still, when a seller collects reviews from multiple customers, he/she can get the average and unbiased view of the product and, therefore, enjoy these benefits that come with it.

1.      You Know What is Working and What is Not

By collecting feedback from customers, you are invariably assessing your output. You can expect your customers to either praise or condemn your products. For instance, reviews from British consumers available on websites such as BritainReviews reveal a mix of compliments and complaints. Where the feedback is positive, you know that your customers like what you are giving them and you should continue. Experienced sellers know that complaints do not mean a direct personal attack, but a yearning for a better service. So, if you make collecting reviews a habit, the chances that you will continue to satisfy your customers are pretty high.

2.      Customers Feel Carried Along

When customers express their dissatisfaction about a product or service, and they see their vendors act swiftly on it, such customers feel like they are a part of the company. Stated differently, they feel attached to your brand. Almost any business-oriented person can explain what that means in terms of loyalty and profit. Your customers will stay with you through thick and thin.

3.      Other Customers Draw Strength from It

If you are lucky to have a handful of positive reviews, intending customers will find it convincing and hence, patronise you without hesitation. That means reviews can form a formidable marketing tactic to increase your customer base. And beyond what your brand may call itself, people believe reviews more than typical adverts. However, if you have not made an excellent reputation for your business in a while, gathering tons of negative reviews can prove lethal to your outfit.

4.      You Get a Research Tool

At the very basic, reviews tell you the average number of customers you have and perhaps the age group of your clients. So, rather than depending on speculations or some theories to make any market decision, you can fall back on reviews to get objective data that you can use.

Conclusion

Your goal as a seller or producer is to satisfy your customers, retain them, and upscale your business. So, you cannot treat reviews with levity. It can uplift or destroy your enterprise, depending on how you handle it. Although there are more benefits of collecting reviews or feedback, these four are notable, and we hope they motivate you to start taking reviews seriously.

Global Content Translation – An Introduction

In this globalized world, everything needs to be globalized, including content translation. Global Content Translation means content that is accurate and localized according to the demands of every local market. And the demand for content that measures up to these expectations is growing, and statistics prove it – translation industry grew by 42%between 2010 to 2020.

So if you are working with a global business, it is must your content be comprehensive too. And if you wish to start, which you should, then this blog will guide you just how to do it right.

Benefits of globalizing your content

English might be that everyone is either speaking or trying to speak, but everyone still likes to communicate in their local language. Globally, there are about 7,000 languages. However, half of the world’s population speaks only about 23 of them. Moreover, 90% of online spending is done by people who speak ten languages.

Now, chances are, majorly serving people speaking these 13 different languages, to reach them, your content must be in their local language. Once you do that, you give better reach to your business. Research proves this – about 63% of global companies reached new customers only by making their content more global.

The rise of translation technology

Various translation apps can help you order dinner in Portugal; however, for your business, those apps are not enough. However, there are some other solutions that you can, and you must explore.

Machine Translation is one thing that can help you. Computers can learn massive databases of language using deep learning and Artificial Intelligence. Over time, they become perfect alternatives to translate content in another language from English or any other language.

However, machine translation still lacks the logic and reasoning skills human translators are so proficient in.

Humans matter

Almost everything in this world is dynamic; languages are no exception either – they are ina constant state of flux. Some words are added, others are removed, some phrases banned, new ones added – this happens all the time. Moreover, lexicons change with regions. This means, however, advanced machines are, they can only complement and help humans, not replace them, at least not just yet.

Besides, human translators understand the meaning and emotion behind the words; by doing that, they can help add the real intent, which is reflected in the source content. In business, and in many other industries, literal translations from machines make for content blunders more often than not. This becomes all the more important if you are working on your brand message and voice.

These are the reasons why you need to invest in state of the art translation services, machines can make the job less time consuming, but humans add the much-needed human touch to the content, which is essential.

Speaking your language

The future lies in being global, and global content translation provides many opportunities to the businesses. Just focus on the needs of your consumers, and translation that much amount of content won’t be a hassle anymore.

How To Create An Effective Travel Policy

Business travel sounds simple. Book the ticket, reserve accommodations and make it to your meetings on time. However, anyone who has traveled for business knows it’s not that easy. Companies that require employee travel must implement travel policies. These policies are in place to ensure all employees who travel for business follow the same steps in planning, booking and receiving expense reimbursements. 

But travel is unpredictable. Flight cancellations occur, hotel stays are upgraded and food expenses can vary greatly. Creating a business travel policy that addresses every eventuality can feel impossible — but not having one in place can cause unnecessary confusion and even hurt your business’s bottom line. The following guidelines will help you create a corporate travel policy that’s a win-win for your company and your employees. 

Aim for Balance 

A corporate travel policy that’s one-sided, whether in the employer or employee’s favor, won’t work. An effective policy will understand the employee’s need to have some decision making power and flexibility. It also will require complete and accurate records on business expenses. A thorough and effective business travel policy will include the following: 

  • Arrangements that employees are allowed to make on their own. 
  • Arrangements that require approval. 
  • Reimbursable expenses and how to report them. This also can include when a company credit card may be used.  
  • Expenses that will not be reimbursed, such as pet boarding, in-room movies, laundry service and parking tickets.  
  • The company’s preferred sites for booking online when arranging flights and accommodations. 
  • The company’s preferred airlines, accommodation options, rental car companies and restaurants, if applicable.  
  • Parameters, such as a daily allowance, for approved accommodations, meals and transportation.  

Corporate travel policies can vary greatly from business to business. It’s also important for certain companies to include exceptions that are unique to their individual business needs. 

Don’t Forget Safety Information 

Travel safety information is an essential part of every business travel policy. After all, employee safety should be a priority for every business. One safety precaution to include in your travel policy is the requirement for employees to submit their itineraries prior to travel. This enables you to know where your employees should be and when. Employees also should provide accommodation phone numbers and emergency contact information. The employer should make the employee aware of any travel insurance policies they have available. These are simple steps that can greatly aid both parties in the event of an emergency.  

Use Technology to Your Advantage 

Technology plays an important role in business travel, and it can be a significant help in the creation and execution of your corporate travel policy. A number of digital tools are available online to help employees record expenses on the fly and submit them quickly upon arrival back at the office.  

Businesses can use online resources such as Google Drive spreadsheets to record expenses or invest in corporate travel management software. These programs can help employers create travel policies that also address the employee booking process. Because they record purchases and expenses in real time, employees and employers are always on the same page.  

Using technology to help create and enforce your corporate travel policy leaves less room for confusion or error. This can result in happier employees and fewer unnecessary expenses.  

What to Avoid 

It’s easy to make a number of common mistakes when creating a corporate travel policy. Companies can get carried away and create too many restrictions, which can make employees dread business travel. Examples include implementing unrealistic pricing requirements and causing employees to waste valuable time and energy looking for deals or stressing about costs.  

An out-of-date policy also can cause problems, as the travel industry is constantly in flux. It’s important to read your company’s corporate travel policy often and adjust restrictions, pricing guidelines and other directives to suit the current travel market.  

Creating an effective corporate travel policy doesn’t have to be a difficult process. Start with the simple guidelines above, keep employee safety a top priority and remember that your policy can always be adjusted as needed.  

Author bio: Matt Singley is Co-Founder and Managing Director of Pinnacle Furnished Suites, a provider of short-term, fully furnished apartments and temporary corporate housing. Singley is a mechanical engineer by training, but an obsessed entrepreneur at heart. His light-hearted and friendly management style complement a serious dedication to the use/advancement of technology and enhanced customer experience to create a winning product and client journey.  

Linked URL: 
https://www.pfsuites.com/nashville  

Sources: 
https://www.lola.com/learn/building-a-corporate-travel-policy 
https://www.30secondstofly.com/corporate-travel-management/how-to-write-a-travel-policy/ 
https://www.g2.com/categories/travel-management 

Developing a perfect risk management strategy for trading

Proper risk management can create an opportunity for your trading account to grow. Mainly the pro traders follow proper risk management in their trading and thus they become successful. If you want to make profits in the market then you should never avoid the risk management in your trades. Taking too much risk in any trade is not going to work. You may be the richest person in the United Kingdom, but still, you should play it safe in the trading business. Taking the unnecessary risk to earn money is a very big mistake. So, focus on the safe side of trading and learn the details of advanced risk management.

Every trader should learn risk management to trade profitably. You cannot learn all the processes of risk management within a month. You need to learn it over time and learning will be not enough if you don’t use your knowledge in your trades. In this article, you will get some points that will help you to build a risk management strategy.

What is risk management?

Traders use risk management to protect their trading account from losing in the trades. Risk management decreases the percentage of losing and allows you to trade profitably. You can make great money in the Forex market if you can manage the risk in your trades. But for that, you need to understand the nature of the market. Start trading with the demo account. Click here to contact the professional brokerage firm and get a practice account for free. Try to trade with low risk in the virtual trading environment so that you don’t lose a big sum of money in the real market.

Risk management acts as a savior for traders who want to trade profitably. Risk management the foundation of your traders. The more you learn about and execute the risk management in your trades, the more profitable your trades will be.

Keep a risk reward-ratio

It’s really hard for new traders to maintain a proper risk-reward ratio for their trades. Many of them fail to set a good risk-reward ratio and thus they lose their money. If you want to be successful then you need to conquer the hurdles of setting a proper risk-reward ratio. If the winners are always bigger than the losers, the chances of making a profit are high. This will also allow you to reduce the risk of trading to a great extent. Even if you lose a few trades in a row, recovering the loss will not be hard.

The best ratio is 1:3+ for each trades to make good profits. The risk per trade is something that you need to refine more often but don’t ramp it up quickly unless you have good trading experience.

Maintain a fixed money management

Fixed money management basically means to risk only about 2% of your capital in each trade from your trading account. You cannot make more than a 2% risk for a single trade, you will be in for a big loss if you take more than a 2% risk.

A fixed money management strategy helps to grow your account profitably. You should always be concerned not to make any loss consistently in the trades because if you drawdown in the market then the risk of ruining your trades increases. A fixed money management strategy can help you to tackle the losses at a higher rate.

Conclusion

If you don’t put risk management then you are unnecessarily risking your entire capital. The only way you can be successful in the long run is by setting a proper risk-reward ratio of a minimum of 1:2 order. Pro traders never avoid the risk-reward ratio in their trades so you shouldn’t avoid it either. You can easily turn a losing strategy into a winning strategy by simply setting proper risk and money management in the trades.

Steps in finding the right financial company

Money is arguably the most powerful tangible item in the world today. This is because, with money, any tangible item in the world can be gotten. Some people see money as an item with which you can achieve anything in the world. A clause used to describe money that is becoming more popular by the day is that ‘any problem that money cannot solve, more money would solve it’. Thus, it is easy to see the high level of importance that has been accorded to money. Thus, people engage in different jobs to make money, with some having to work daily and for over 12 hours. Others would not mind doing anything to get money irrespective of how low they have to go to get the money. Cases of corruption have always arisen in severally every country in the world, with every country in the world having a lot of corrupt people. While some countries have made progress with putting in place strong legislation to fight corruption, some other countries continue to witness huge levels of corruption. Since finance companies are also run by individuals from different countries, with some being corrupt or having corrupt tendencies, it is important to know the reputation of the financial company you want to invest in as well as make sure you are choosing the right financial companies.

Get to know about financial companies
The first thing you want to do when you want to find the right financial company is to look for the financial companies that operate in your area and are also into the type of financial service you are interested in. This is considering there are financial companies that only provide loans, while others allow saving and loaning of money and there are yet, others that only provide mortgage financial services. Thus, you want to know which financial companies in your locality on online that cater to people in your country that provides the financial services you are interested in. Reviews website sometimes group their companies by category and thus, you could easily click on their finance category to find all the companies that provide finance-related companies.

Read reviews
The next thing you want to do is to read Finance company reviews to know the types of financial services that are offered by the company. In the process, you would also be able to find out how reliable they are and if they have the tendency of helping you lose money in one way or the other. Once you are satisfied with the reviews about the company, you can now visit their website.

Visit their website or local office
You could shortlist t3 companies that have mostly positive reviews, you can then visit their websites. Read more about them and their policies as stated by them. You don’t want a situation where you claim something you saw in a review was part of their service but it was not on their website or their brochure. You can subsequently patronize them through their online platform or visit their local office to ask further questions and begin a business relationship.

A guide into staff productivity and how to improve it…

Workwear is a topic regularly discussed. Over the years, employees have adapted their clothing for work with what employer’s think is practical for industrious-based jobs and smart in client-facing jobs.

But with rules and attitudes changing all the time on how we approach the way we dress our employees, how much does is affect productivity in the workplace? We explore this issue with Jermyn Street Design, corporate uniforms suppliers .

The history of the uniform

Employees that regularly deliver important items would have wore a badge showcasing the royalty of which they served. The badge would also indicate the exact role of the wearer.

It was a way of proving the legitimacy of the workers themselves, as well as giving workers such as merchants authority, to prove that their items are of higher quality. Though this was common centuries ago, the durability of them wasn’t up to the standards that they are today, so many of them did not survive. However, these badges were the start of the uniform tradition that would go onto become mainstream.

Liveries were a popular form of uniform throughout the 18th, 19th and 20th centuries, and many retail uniforms today still have similarities where brand logos are concerned. Liveries were items of clothing that were fashioned with the colours and insignia of the families or countries they were serving.

Why are uniform seen so positively?

One of the main benefits of having a specific work uniform, is that some of the staff may not actually be able to afford a whole new outfit(s) for work. This helps the employee not only financially, but also keeps them in a working mindset.

Scientific research has also shown that those in formal clothes tend to perform better in situations than those in casual clothes, although this does not account for all industries. But opposing research has also found that 61% of employees are more productive at work when the dress code is relaxed.

In a study by Social Psychological and Personality Science, subjects were asked to dress in either casual, everyday clothing or formal business dress, before going on to take part in cognitive tests. It was found that those in business dress showed an increase of abstract thinking when compared to those who remained casual — the findings of the experiment suggest the effects are related to feelings of power and authority, in turn granting confidence.

Although it’s common to assume that allowing workers to wear what they want will make them work to a higher standard, providing uniforms is a great way to instil a sense of belonging. It reminds them that they’re part of a team too, proudly representing the brand. Deploying a uniform could also harness team spirit, creating unity and fostering that feeling of belonging.

It’s really important to build a great place to work to ensure that you’re ticking all of the ‘work positivity’ boxes, alongside the workwear. Another way you can add to the work experience, is displaying office plants to improve the ambiance.

How popular are dress codes?

There have been studies carried out which suggest that both having a dress code and not having one has its advantages. As a generalisation, dress codes in non-industry roles are approached differently by the individual; some people like the creativity and flexibility of not having a dress code enforced at their workplace, but others like dressing up to feel as though they are in a more formal working environment.

Some of the most successful people in the world decide to dress more or less the same every day, limiting the decision-making process. Steve Jobs was known for his black turtleneck jumper, jeans and New Balance trainers, and Mark Zuckerberg for his daily grey t-shirt, with their arguments stating that it lowers their decision-making process and allows for more brainpower on their day-to-day roles.

Certainly, uniforms are more apparent in customer-service based roles, as it helps customers distinguish authority from consumer, with hotels, leisure parks and airlines being the main examples. But if smaller businesses were to adopt a ‘wear what makes you comfortable’ dress code, where health and safety isn’t concerned, this would perhaps encourage a more relaxed environment in the workplace.

The Data Points You Didn’t Know They Had

Smartphones have become an everyday necessity for the majority of the population— a life without a smartphone is certainly an inconvenient one. Our lives are stored within these devices, from our calendar appointments to conversations with our closest friends and family.

With all our data stored in such a way, the issue of privacy is always paramount. It’s no surprise then that the media has been focused on GDPR, which was introduced in 2018 to protect EU citizens’ data from corporations. Previous data protection regulations from 1995 were outdated in a digital age, failing to scrutinise how data should be collected, stored, and transferred. An intense focus around data protection combined with revelations of data breaches from companies like Facebook and Equifax has made many of us aware that our information being disseminated with companies wanting to target us with better with personalised advertisements. But do we know which information is being used?

According to research, over 70 per cent of apps are recording and reporting personal data to third parties like Facebook and Google Analytics. Here, RedMosquito take a look how brands and technology are tracking what we do, and just how concerned we should really be.

Location Tracking

One of the more controversial issues is our location being tracked — even when we deny permission on our phone settings. Google Maps requires us to agree to sharing our location for the purpose of the app, however this tracking doesn’t stop when we finish our journey. A timeline of our daily routines and activities are mapped out, even recording minute by minute how long we spend at these locations. Did you spend the day at home, or have a busy day visiting family and friends? Google will likely know everywhere you’ve been, but that isn’t the most concerning and intrusive part; Google still records location information even when we turn it off in our settings.

Google takes this data to help advertise to people based on location, using local campaigns to boost in-store visits, measuring how effective a campaign is in driving traffic by taking data from user’s location histories.

A matter of privacy risks, many are concerned that this data is stored in cloud databases which could be hacked. So, is this sensitive information secure or should we be worried that this could be accessed in a cyber-attack?

To deny Google from saving your location data by turning off an option called ‘Web and App Activity’ in your Google apps, an arguably misleading title for those concerned about their own privacy who turned off location services.

What You Said

Google Home and Google Assistant are artificial intelligence virtual assistants that probably knows you better than your friends and family do. Voice commands that you give to these speakers are stored to help build a consumer behavioural profile around yourself. All commands are saved no matter how mundane you might think they are — if you commanded your Google Assistant to turn off a light, this will be saved alongside an audio recording.

Google’s speakers are supposed to be triggered by saying “Hey Google”, however at the beginning of 2019 people were unaware that these virtual assistants were eavesdropping on conversations people had in the privacy of their own homes. It was revealed in July 2019 that third-party contractors were listening to these recordings to help develop the artificial intelligence system’s understanding of speech and dialect. Regardless of the intent, whether it’s for advertising purposes or to simply improve technology, it’s safe to say nobody wants someone listening in on what you’re saying.

Track Your Behaviour on the Web

What we’ve seen so far is Google tracking us through their systems and applications, but what about what we do on other websites? A lot of Facebook’s revenue depends on finding out as much as it can about our likes and dislikes and gets this information from other websites we visit. Facebook Pixel is the feature that tracks our online activity to create accurate profiles of us, making it easier for advertisers to target us with our interests. To limit this access, it’s recommended to install extensions on your internet browsers such as Ghostery to disable trackers on your activity.

In-store purchases can also be tracked by Facebook, although not as easily as online shopping. By collaborating with payment providers such as Square, call centres, and loyalty programs, Facebook can find out whether advertisements are working on those targeted. If you have loyalty cards, use sign-up details that are unlinked to your Facebook account — request paper receipts over digital receipts to stop companies making the link between your in-store purchases and Facebook account.

If you’re concerned about how your personal information is being used, it’s worth taking a look at measures you can take to prevent your details being exploited by third parties – your privacy is important!

Sources

https://www.forbes.com/sites/andrewrossow/2018/05/25/the-birth-of-gdpr-what-is-it-and-what-you-need-to-know/#c028ab955e5b

https://eu.usatoday.com/story/tech/columnist/2018/04/20/how-facebook-tracks-your-every-move-facts-vs-fiction/521613002/

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