The technological field is an ever-changing loop. Every other day, new technology or a fresh advancement comes to the market. Computer courses are in high demand, making it essential for working professionals or beginners to learn these new technologies to keep up with the market standards.
With the changing world, the learning process has also changed. Online courses and online classes are in high demand as it saves much time and can be attended whenever the person wants.
These days, many computer courses are available online that anyone can easily take up. They have to choose the best one to suit their time, come within the budget and have a preferred curriculum.
However, selecting the right course and institution might consume a considerable amount of time. To ease it out, below is a blog that answers most of the questions people usually have while opting for a computer course.
What are the types of computer courses?
The education system has seen an incredible leap, and all teaching methods have changed now. With new progress, presently, it all depends on the person taking the course and their flexibilities. However, computer courses are in demand nowadays. Below are the major computer course types:
Long-term offline course: This is a complete course or degree of 3 or 4 years. It involves courses such as:
B.Tech or B.E. in computer science
BCA (Bachelor of Computer Application)
B.Sc. in computer science
B.Sc. in software technology
Diploma in computer science and engineering
Diploma in software engineering
These are entirely classroom courses, for which the person has to go to the institute to attend the classes. Apart from this, the course materials are usually provided by the institute or buy them.
Long-term online course: This course is more flexible and accessible. Online courses are a new form of education. Many universities are providing long-term courses online. Mostly these courses can extend up to a year or more. They extensively cover everything that is there in an ordinary long-term course.
The classes happen through video calls, on-set timings every week. All the course material related to it will be provided through PDFs. Similarly, the tests also happen online, avoiding the trouble of going to the center and attending the exam physically.
Short-term offline course: These courses are famous across the country. Usually, coaching institutes provide a short-term course that is majorly for 3-4 months. These classes happen for an hour or two on weekdays or weekends. It depends on the time selected by the person who is willing to take the course. At the end of the course, the person is provided with a certification that speaks about the course.
Short-term online course: This is similar to an offline course and lasts the same amount of months, but classes will be held online. The classes usually happen through videos (the student can attend the live class or check the recorded class), and materials are provided as PDFs. This is the best option among all the courses, as it is for less period.
A short-term course can be completed at any time, anywhere as per the convenience of the person.
What are basic computer courses?
There is a phase in every student’s life where they have to decide which course they want to opt for. There are many career options available, like, if one wants to be in the fashion industry, they can choose to be a fashion designer. If one wants to be in the sales field, they can select the respective sales field. Similarly, suppose a student wants to pursue his/her career in the computer or technology-related field. In that case, they should know about the basic computer courses that are mentioned below:
It includes different aspects of website maintenance and production. This explains different work sectors such as website graphics, user interface design (U.I.), user experience design (UX). It also includes other standardized codes such as authoring, proprietary software, and SEO. Knowing web designing will help an individual to build a complete website.
VFX and animation
VFX or Visual Effects is a way of mixing real film shoots with animated or false images. The animation is a basic art-technology that makes the image and pictures move or do whatever the creator wants them to do. This is a fascinating and exciting computer technological field. It is basically for the people who want to do challenging and diverse work.
Above is the market forecast for global cybersecurity. This showcases how cybersecurity will increase and how companies will invest in it.
It is a practice that helps to protect computers, servers, mobile phones, electronic devices, and networks from any malicious attacks. Different sectors have varying cybersecurity methods, such as:
network security that helps to protect the network from unwanted users and attacks,
application security helps protect the apps by continually testing and updating them and ensuring that they are secure.
Similarly, there is information security, operational security, and disaster recovery to safeguard the device and data. Each of these security makes sure that there are no malicious attacks.
Software and programming language
It is a formal language that comprises instructions entered into the system to produce desired outputs. A programming language is used to implement algorithms. These are a set of instructions that are different from the standard general programming language. It is a language that only a computer understands.
With these programming languages, a computer can analyze large and complex swaths of information in minutes.
Gone are the days when traditional marketing (such as billboards, pamphlets, and hoardings) was necessary to reach people. Digital marketing is the new way of advertising through online platforms such as search engines, websites, social media, emails, and applications.
Most industries, brands, and companies these days rely on the online platform to increase their reach and engagement.
What computer courses are in demand?
In the era where competition is very high in every field, if a person is in an I.T. or software field, it is better to upscale the knowledge from time to time.
At the forefront of the job market, computer-related skills are vital for almost every industry. Especially when the Internet is evolving, IoT or the Internet of Things is the new way to technological advancement. Below mentioned are the top computer courses that are in demand and will be helpful to upskill one’s knowledge:
It is a technological field that uses all the scientific methods, statistics, algorithms, and processes to extract the required data and insights from structured and unstructured data. This includes data mining, machine learning, and big data. In short, it unifies the statistics and data analysis to understand what is going on with the vast amount of data available or what can be done with such massive data.
Data science has heavy demand in the market, not just in India; every company worldwide requires data scientists for the information floating around in their company. If a person wants to get into the software field but doesn’t know what he/ she should be doing, then going for data science is the best option.
Big data analytics
This is a process of analyzing giant sets of data, such as hidden patterns, market trends, unknown correlations, customer preferences, and other useful data. All these data are beneficial. It can help build effective marketing campaigns, discover new revenue growth ways, understand customer requirements, and more. Big data helps companies to make informed decisions, so they are always on a hunt for prominent data analysts.
Artificial intelligence (A.I.)
It is the simulation of human intelligence in machines. The machines are programmed so that the devices can mimic every way that a human wants. These machines can also be able to exhibit traits similar to a human such as learning and problem-solving. The best example of A.I. is the Amazon Alexa and Apple’s Siri.
Below is the graphical representation of increased demand for Artificial intelligence.
For people interested in creating such machines or going out of the box and building a unique device or machine, Artificial Intelligence is their thing.
SEO or Search engine optimization
When people search for something in the search engine, they might see some ads at the top, images, videos, or specific sites. All of this is achieved because of SEO.
Search engine optimization improves a website’s quality by enhancing the traffic and engaging people to the website. It targets traffic in different ways by using images, videos, content, links, and social media. SEO’s primary work is to look at the search engine’s algorithm, figure out how it works, and gain traffic.
This is mainly for someone interested in marketing and the ever-changing technology and its advancement.
Why should you go for a computer course?
Technological growth will always be there around the world. This makes, clear that having computer knowledge these days is very important. Below mentioned are few reasons for considering to take up computer courses:
Market growth: Being the second populated country globally, people and their technology needs are increasing. This gives rise to market growth and increased demand for technologically apt candidates for the related job roles.
I.T. companies are gaining much popularity. It is even expected that the I.T. sector in India will make profits worth $225 billion in the coming years. Thus, making the field more demandable in the crowd.
Increased scope: According to reports, India has the most talented I.T. candidates, and at least 30% of the staff of most of the I.T. companies are Indians. Most of the top I.T. industries contain Indians as their Vice presidents, CEOs, CMOs, and other high-profile positions.
This showcases the increased scope and requirement of learned I.T. people in the companies.
Job security: Learning computer courses always comes in handy. As the job market is vast, similarly, the talents out there are immense, creating heavy competition. To cut through the competition and stand in the market, it is essential to be at par with the industry and standards.
With considerable knowledge and grasp over highly demandable subjects, one will make sure that their job is secured. Increased qualification and expertise are always helpful to keep oneself intact with the industry.
Which computer classes should be taken in high school?
Suppose a student wants to pursue their career in the software field from the beginning. In such a case, it is always better to start immediately as it is already decided. High school is the perfect place to build a foundation for the desired career of the student. Following are the few computer courses that any high school student can take up:
Basics of programming languages such as C, C++, and Java
Basics of Data structure
Basic of web and graphic designing
Which computer course is best to get a high salary?
Every day new technological advancement comes to market. To keep up with the demand, it is better to upskill with the latest computer courses. Not just the computer courses, these courses will even help in getting a high salary job. These courses might help to get a salary hike from 50% to 80%. Mentioned below are the few professional courses that will help upskill the knowledge and get a higher salary package.
Data science: According to Glassdoor, the entry-level salary for a data scientist is somewhat starting from 6 Lakhs per annum. With growing experience and expertise in the field, it might go up to 18 lakhs per annum and even more.
Big data analysis: A big data analyst is also paid a lot. The average package of a big data analyst in India starts from 6.5lakh per annum and can go up to 15lakh per annum. If the person has more data analysis expertise, the package can even go above 15lakhs per annum.
VFX training and character animation: A VFX artist or an animator also gets a competitive salary package in India. For any entry-level designers, it might start from 5 lakhs per annum. It can go to 10 lakhs per annum with increased experience.
Computer hardware engineering and networking: Here, for an entry-level engineer, the salary offered might start from 4.5 lakhs per annum. It gradually with increasing experience it can go beyond ten lakhs per annum.
Which computer course is best for banking?
Yes, even people interested in going into the banking sector require to have particular basic computer knowledge. This computer course is essential for those who want to apply for clerical jobs. A computer course in a related field will help enhance one’s place in the banking sector. Below are the courses that will help in any banking job:
Computer Awareness and office automation
Which institutes offer these computer courses?
Now a person doesn’t have to go physically to any tutorial or course. Opting for these advanced and excellent courses can be done quickly by sitting at home. Many options are available in marketing that can be utilized effectively, starting from introductory courses to advanced ones. All one has to do is check for the courses, opt for them, and take the classes online. Below are the few institutes that provide advanced computer courses:
Upgrad: This is an online education-providing institution. These people are experts with structured programs for Data Science, Machine Learning, and Software Technology (full-stack, cybersecurity, and cloud computing.) They provide certification for every course that has been opted for, which is helpful during any job interview.
Udemy: This is a perfect platform. It provides all the major software courses starting from A to Z that are too reasonable. Like designing, marketing, I.T. and software, and photography, it provides all the courses in trending in the market. Udemy offers many other such courses that are descriptive and knowledgeable.
Simplilearn: It offers post-graduate programs in Digital Marketing, Data Science, Business Analytics, Artificial Intelligence, and Machine Learning. Simplilearn provides these certifications with collaboration with some top universities, making learning easy and worthwhile through online classes.
White hat juniors: This is one of the sites that help kids get interested in coding or software courses. White hat junior provides beginner level or entry-level programming courses for kids between the age of 10 to 18. It helps build a foundation for coding for those interested and who want to pursue the same career.
Coursera: This is one of the sites providing online courses. It offers a wide range of courses prevailing from different fields. The courses start from bachelor’s degree, go till master’s degree and even provide a global MBA. It has courses related to Machine Learning, Digital Marketing, Artificial Intelligence, Big Data, Data Science, and many more. Learn more about Coursera here.
These are some of the major courses that any student, beginner, or expert can take to upskill their knowledge. Upskilling the skills always helps to keep oneself on the edge of the ever-changing technological advancements.
If you have issues, questions, or queries related to the computer courses, please ask us in the comments section or by contacting us.
The ongoing Pandemic has changed the way people buy products and retailers sell products. COVID 19 has reshaped the whole consumer marketing this 2020. Consumer goods manufacturers and retailers should ditch the old ways and get a new perspective about the entire operation.
As soon as the Pandemic hit, most people chose the online platform for purchasing the needs rather than risking to go out for essentials. This situation made most of the shoppers take their business to the web. Essentials mostly include hygiene-maintaining items and groceries. With this, we can assure you that the buying experience will not be the same as before.
The sales scenario in the market is completely changed; it is a sudden radical change. Covid-19 has given rise to many trends disrupting the industry. There is an increased surge in online marketing. The grocery penetration of e-commerce platforms has increased from 13 percent to 31 percent as people avoid going out and ordering everything using web apps.
However, it is even seen that those who went to stores found a different experience like maintaining physical distance, hygiene, mask usage, and significantly changed to Online shopping. Well, with these changes, if CPG companies want to survive in these situations, then they must nurture the capabilities and adopt new strategies.
In an analysis done by BCG, 40% of the consumers doing online shopping are first-timers. After restrictions easing-out, 35% of the consumers are still concerned and choosing an online platform to order essentials. It is predicted that by the end of the year 2022, the grocery category in the e-commerce platforms will be three times higher than the pre-COVID situation and two times higher than the pandemic forecast.
Different CPG industries are facing varying disruptions to the demand and supply chain. Like the packaged food companies have seen a 54.2% increase in their sales in the Lockdown. On the other hand, royalty-based toys have reduced their sales due to postponed movie productions and sales.
The level of impact on the supply and demand of a few CPG industries are mentioned below:
Home & personal care: Due to the Corona outbreak, consumers started stocking essentials. There is a high demand for sanitization products, especially the bigger package size. Due to a shortage of workforce and centralized sourcing, the production was interrupted while coming to supply.
Food & beverages: Increased surge for online food and beverage orders. Majorly for dairy, ready to eat products, that too in bigger pack sizes. The supply of these demands was difficult as it raised sales required double the workforce and extra time for floor sanitization. Due to Lockdown, logistics delivery was also restricted.
Beauty & cosmetics: There is an increased demand for safe beauty & cosmetics. Online consultation and e-commerce sales increased. However, there was a temporary disruption in the supply chain due to restricted transportations, increased manufacturing demand from a single area; sales to on-trade channels were also disrupted.
Apparel & footwear: Steep decrease in consumer demand, as well as delay in new fashion launches, plus most of the people prioritized buying essentials than apparel & footwear. Due to Lockdown in major countries, the supply chain price increased, resulting in higher order cancellation.
According to a report from Deloitte, “Majority of the consumers are spending more on Convenience to meet all the requirements or their needs. Due to COVID-19, people are more likely citing contactless shopping, fulfillment on demand and easy inventory availability.” There are other key findings of the report as such :
As of April 2020, the year on year growth of the eCommerce industry increased, and reached to 68%, surpassing the previous 40% of the total sales. With the ongoing pandemic, and countries following strict guidelines it is expected to increase to 72%.
Convenience will continue to be king of the Market, more than half of the people have shown their willingness to spend more on what they want.
People now are more interested in private brands. Until 2019, only 40% were willing to pay for the same or private brands. Now during COVID 19, people being at home and more cautious about health and products they use, private label sales increased.
There is increased spending on hygiene, groceries, other sustainable products, and organic stuff, in these pandemic months. These brands will continue to play a key role in the market.
Where is the CPG industry today?
Consumer-goods roles are huge during this COVID crisis, meeting the increased demands of consumers and protecting the vulnerable. This sudden change may or may not be permanent. However, there will be a significant fundamental shift in the pattern of buying.
In the initial days of covid, the priorities were clear for the CPG sector: the safety and health essentials, ensure a strong balance sheet and maintain the availability of essential products with a resilient supply chain. The CPG manufacturers who are ahead in their supply curve drove increased enterprise agility, adapted cross-functional collaboration channels, and adjusted in the current scenarios.
However, now the case might be changing with an increased level of uncertainty; as the restrictions are slowly removed, many nonessential retailers who were forced to shut are re-opening their businesses. While it is uncertain as the Pandemic is not entirely gone, it can potentially spread and impact the economy.
Another concern is the changed buying pattern, and increased buying concerns may be carried forward to the future. While the CPG companies are the least affected than any other industry such as retail- the hospitality and traveling industry is the most affected sector.
The edible industry, such as food and beverages where growth is monitored concerning population and income, is seeing increased demand. This results in a massive surge in pantry loading and delivery.
A historical change is seen! The food & beverage sector usually lagged in other categories such as apparel & footwear, beauty & cosmetics has seen a steep fall in their sales. In contrast, the demand for food & beverage has increased. Choosing the online platform for buying than going to shops has increased. The CPG manufacturers can work with the retailers and lower the cost-to-serve to maintain their operations.
It will take significant time for the consumers to shift from current frugality and embrace the older ways. But the heightened uncertainty will be there for some time. The retailers and on-premise places should try all possible ways to win back customers’ trust. In this Pandemic, people face a financial crunch, forcing them to shift to buy products at lower prices and save money.
The ongoing pandemic has been a boon for the Consumer Packaged Goods industry. The demand for CPG increased from 10 percent to 12 percent in countries such as Italy, France, the UK, and the US.
Demand has also affected a lot and saw a market downfall, as consumption shifted from on-premise to home. It is likely to stay and persist. Most people are continuing to work at home, so companies have also taken a fresh look to strategize the workforce accordingly. It is better to change the plans according to the need of the hour and embrace new strategies.
Engage Consumers with CPG marketing
Ongoing Pandemic has increased the use of Digital Platforms by most of the Companies and customers. This situation has made the brands to look over and revise their marketing strategies to gain new opportunities and fulfill the changing consumer demand.
Some of the companies thought to take a dive and enter the direct-to-consumer market. For instance, a company launched a platform dedicated wholly to B2C. In contrast, most of the companies are still using the subscription order procedure.
However, some CPG manufacturers want to maximize their platform reach in the market and engage retailers to grab a significant share with an increased e-commerce demand. In this case, the retailers are enabled to:
Placing orders online directly
Avoid or reduce the stockouts by implementing the real-time inventory management
Have the optimized SKU’s for digital channels
Assessing new disruptive routes to market by partnering with a logistic and delivery business
There are many challenges, and the CPG companies should overcome all these to succeed in online sales. Entering into e-commerce and utilizing technology that will engage consumers by keeping a note of their preferences and priorities isn’t that easy.
Priorities the CPG industry should implement to survive now and post-pandemic
As most of the consumer’s shift to e-commerce channels, the sales of food and beverage categories will increase to 70% approximately by the year 2022. This will be the gain of CPG companies, who can develop effective omnichannel capabilities to maintain their position in the market. Simultaneously maintaining an interactive and innovative presence in the social channels.
Below are the statistics showcasing increased CPG sales during the Lockdown. It is a representation of CPG sales by channels. The first one represents the increased sales of Grocery and the second graphic representation is for Multi-Outlet and Convenience. Amid this crisis, people are trying new brands, 50% of the consumers have tried new brands, however, 66% of them are likely to stick with these new brands.
As everything is turning from Pandemic to recovery, the CPG manufacturers must shift their focus to future plans. To make your mark in the market in such a situation, the below priorities should be focused on first.
Tailor all your capabilities to unique needs
As you will already have a standardized sales practice, it would be better to concentrate on approaching the consumers and targeting different channels and segments. This means customizing how to leverage data and other information to connect with retail consumers’ unique requirements. Analyze the collected data and check what the consumers want and also what they are interested in.
For instance, if a manufacturer wants to meet specific needs, they can reorganize its cross-functional sales team. For one retail consumer, there can be more data analytics experts in the team to facilitate the omnichannel strategy at work. However, there can be an addition of supply chain and operational experts for other retail customers, streamlining retail operations.
Making your sales model more flexible will help satisfy more customers and get a leading share in the market.
Partnership to improve omnichannel experience
Retailers have to serve hugely to customers in multiple channels; having a partner will help take care of the services, insights, and products. The job is not done just by moving in between stores, navigating mobiles, and e-commerce platforms. CPG companies should support the partner to do out-of-the-box things, grab people’s attention, and build even greater loyalty.
The consumer sales team should be clear about certain things before entering into it, such as, are they working the best with the online and in-store retail partners, is there another opportunity to increase it that they might have overlooked, are all the resource allocated in line with channel strategy, how to manage conflicts between retailers, e-commerce platforms and direct-to-consumer platforms. These are some important questions that must be analyzed before jumping in.
In an omnichannel experience, the more that data, the more accurate the result. A retailer knows what’s happening in his/ her region, while the manufacturers know how the products are performing in the market and different channels.
By having analyzed information, retailers can understand and optimize the omnichannel experience. If we take a step further, this analysis can innovate new ways to reach people.
Increase efficiency with Digital Tools
Now we are in such an era where contactless buying is preferred. With the outbreak of Coronavirus, people prefer less risky or contactless buying. Prioritizing the online process and minimizing human contact to avoid infections.
This situation arose a digital wave, where every business is trying to be on the online platform, mostly the product selling companies. Most aspects, such as taking the order, delivery, and customer service, are digitized.
This crisis forced the consumer goods industries to minimize human contact in the production and delivery department. In the same way, it forced the retailers to reduce human connection in distribution to stores.
However, digitization came as a savior in this crisis period. The three digitization process that came in handy are:
The route to market model digitization letting the customers know about your products,
automation of all in-store activities,
having advanced analytical experts by your side to get informed insights on shoppers’ patterns and product performance in the market.
The services such as telesales, messages, emails, e-commerce presence will, for sure, retain the market popularity of the product once the Pandemic passes.
Acting fast and adapting to an ever-changing market will always help the business. COVID-19 crisis has created a lot of challenges and changes in the market. It also discovered how important a retailer and manufacturer relation is.
In the Shutdown and panic buying situation, some recognized companies have stood still; well, on the other hand, few of the recognized brands are facing a steep fall in their sales. It all depends on how fast you grasp the changing market and shoppers’ interest and adapt to it.
The more resilient the company is, the less impact it has on its business. Simultaneously, it might take some time to wear-out the impact of COVID-19. This situation has reinforced the consumer-goods company’s values, providing the best chance to strengthen the retail partners’ marketplace.
Now it is time to be more analytical and plan to work uniquely and create increased value, presence, and engage people in their product.
Although you may not operate from a physical store, there are still just as many costs involved with running an e-commerce business. Everyone wants their business to be successful, and that success depends on making money. As product and operational costs continue to rise, it’s essential that you keep not only your prices competitive but that you also find ways in which to increase your profits. The first strategy that comes to mind would be to find ways to boost sales or grow revenue. Although cutting operational costs is another critical way, you can put money back in your pocket.
Won’t reducing operational spending put strains on your business? Not if done strategically and practically. Costs can get out of control if not monitored. Here are some great strategies for cutting the operational costs of your e-commerce business.
1. Contract your staff
The top way in which you can reduce your operating costs is by contracting your team. While hiring a full-time employee may be necessary for certain aspects of your business, it probably isn’t for the majority of them. By contracting an employee, you can cut all sorts of costs. Firstly, you will have less to pay for wages. You can pay for exactly how many hours you require the employee to work. Beyond that, you will not have to pay benefits or holiday pay.
Tasks such as web design, admin, and social media management do not take 40 hours a week. Having a salaried employee for these areas will end up costing you way more than is necessary for these tasks. An admin assistant can jump on 30 minutes a day to answer emails. A social media manager can put in an hour a day to schedule posts and engage with your social communities.
High-salaried employees, such as those in your IT department, are huge budget suckers. While it’s nice to have someone on hand to fix inevitable tech problems, many companies contract out IT support. Companies such as Capstone IT Services handle any technical issues that you may have, at whatever time you need them.
2. Make strategic and quality investments from the beginning
While it may be tempting to take the cheap route when setting up your business, it may lead to financial losses in the long run. Investing in quality options from the beginning will mean that you won’t need to keep paying for constant updates.
When it comes to your website design, an investment in a high-quality web designer is worth it. The site is the virtual storefront and, therefore, the most important investment that you can make as an e-commerce business. Investing in quality design from the beginning will mean that you’ll have a great foundation to work from. Web design can get quite costly if you need constant updates and revisions. Start with an excellent base from which you can make small changes as required.
Your branding is another area that is worth the initial investment. Continually changing your logo and brand identity will only act as a deterrent for potential clients. Take the time to develop a well-thought-out brand identity that you are confident about and can stick with going forward.
Always choose quality over a cheap price tag, because in the end, it will end up costing your business more. Try to avoid opting for an inexpensive designer and instead hire experienced, trusted professionals with a proven track record.
3. Know the market
The more products you offer, the more it’s going to cost you. If all your products are flying off the shelves, then that’s great, but this is not usually the case. You need to know the market and understand what your target consumer is looking for. Stocking products that don’t sell is a waste of resources and the physical space that it takes up in your storeroom. Stay updated with current trends in your industry. What’s the competition like? What products are selling the most? You’re better off offering a smaller range of high-demand products than a massive range of items that don’t sell.
The same goes for if you are selling a service. If you offer tons of services, but only a few are selling, then focus on them. While they may not take up physical space, you’re probably wasting valuable marketing budget and your time promoting them. Know when to offer discounts or coupons to help clear out stock that isn’t selling.
Focusing your efforts on the products and services that the market wants will save you tons of money on storage, marketing, production, and more.
4. Limit your payment methods
While it can be tempting to offer as many payment methods as possible, it can cost a lot of money. Payment processing fees will add up very quickly, and the more options you provide, the more expenses you’ll pay. Identify the most popular payment options among your consumers and stick to them. Since the majority of people have more than one payment type, it shouldn’t limit you from converting sales.
5. Choose the most effective marketing channels
Spending on marketing is significant for the growth and success of your business. That said, if you are spending in the wrong channels, you may as well be throwing money into the wind. Marketing costs can be high, so the key is identifying which channels deliver the highest ROI. It will vary for each e-commerce business, depending on their specific industry. The most effective way to find out where you should be allocating budget is through web analytics.
Web analytics will show you exactly where all your website traffic is generating. It will let you know which of your marketing efforts is paying off the most. Maybe you’ll notice high traffic from link-building via relevant blogs, or perhaps it’s from Facebook ads. Regardless of how your visitors get to your website, you will be able to identify which channels aren’t converting and discontinue those campaigns.
You can dramatically cut costs on your marketing by basing your campaigns on your web analytics.
6. Customer retention
Converting sales from current customers costs seven times less than converting new customers. Retaining the customers that you already have will save you a lot of money on marketing. Not to mention, loyal customers exponentially increase your reach through referrals. It’s free marketing at its finest. By engaging with your customer base, offering loyalty programs, and using email marketing to stay relevant, you can encourage your consumers to keep buying.
The quality of your e-commerce business does not need to suffer for you to reduce your operational costs. You can still employ expert, qualified staff who will help your business to run efficiently and productively for a fraction of the cost. Your website design can make an impact and create a brand identity that will help you to stand out against the competition, helping you to form a loyal customer base. By running strategic and analyzed marketing campaigns, you can minimize your budget and convert more sales than ever before.
By making some small tweaks in your current processes and choosing investments wisely, you can cut your operating costs and increase profit in your e-commerce business.
Are you wondering what quick Halloween marketing ideas will boost your sales up this Holiday month? Don’t worry at all as you have just come to the right place for all your answers. Instead of jumping directly onto Marketing ideas for Halloween 2019, let us first take a quick look at last year’s marketing trends and predicted present trends.
In this article, you will find various solutions to all your queries about ecommerce marketing strategies and how to boost your sales during holiday seasons using social media marketing and current business trends.
What is Halloween?
Halloween is an annual ghostly holiday celebrated on October 31st every year. This 2019 it falls on Thursday, October 31. It came into observation along with the ancient Celtic festival of Samhain. On this day, people light bonfires and wear scary costumes to stall away ghosts.
Celebrating Halloween is an ancient practice, but with time it has become trending. According to a research in 2018 by the National Retail Federation (NRF), 175 Million American’s celebrated this scary time of the calendar. They, on average, spent 9 Million Dollars for celebration.
What They Buy for Halloween?
This quarter the estimated Trick or Treat holiday shopping trends are
68 percent of Americans plan to celebrate Halloween this year. Top spending categories for 31st October 2019 are:
$3.2 billion on Halloween costumes,
$2.6 billion on Halloween candies
$2.7 billion on Halloween decorations, and
$390 million on Halloween greeting cards
What They Buy for Halloween:
This 2019 October edition holiday has gained popularity because it is an affordable holiday. Right from kids to adults, each and every person loves to celebrate this spookiest day of the year. Shoppers look forward to Spooky items that are bang for a buck.
90 percent of Americans buy candies for trick or treats, spending about $2.6 Billion. Around 75 percent buy decor, and not more than 70 percent spend on costumes.
Top five trending costumes for adults were:
A witch, vampire, zombie, pirate, and Avengers character.
While for children, the costumes were Princess, Superhero, Batman, Star Wars character, and Witch.
In recent times shoppers even buy weird costumes for their pets. The five most popular pet costumes were Pumpkin, hot dog, bumblebee, devil, and cat (for dogs).
When Should You be Ready for Halloween?
6% of shoppers will start shopping before September.
28% of shoppers will start their shopping during September.
41% of shoppers are likely to get done with their shopping in the first week of October.
25% of the shoppers wait until the latter half of the October month in search of more profiting offers.
If you have not yet started with ecommerce marketing, it is never too late. You can begin with it even now.
What channels you should use to sell your products?
Social Media channels are considered to be the most effective channel for marketing during holiday seasons every year. Most of the traffic for your business flows in through these online channels like Instagram, Facebook, YouTube, Twitter, and Pinterest.
We have included an image below, which helps you analyse how online media has influenced purchases and increased sales over a few years.
Here are a few Halloween marketing ideas that would boost your sales this Scary season:
1. Customizing Your Website:
Customizing your Website is the best way to start your business strategy for this ghostly season. It is an excellent ecommerce strategy. You can customize your Website in various ways.
Here are the best customizing options for your Website:
It is the best way to attract customers, and be a part of this creepy Day celebrations. Even Google uses this method.
Use a Spooky Favicon:
Favicon is nothing but a tiny icon that appears on the top of your browser’s tab for your Website. Though customizing favicon seems to be a small change, it has a significant impact on attracting the audience.
Add a Scary theme:
Apart from the logo and favicon, what gives your Website festive feel is the theme. If you are willing to get into the holiday theme, you must revamp your Website by giving it the holiday edition touch. This themed Website modification is for providing your visitors holiday season spirit.
Apart from these few customization’s, what could really attract customers to your websites are the use of Chatbots. Chatbots are conversational agents on your site. With the help of chatbots, you get a chance to wish all your customers who visit your website and create an emotional bond with them.
2. Launch Limited Edition Products:
One Halloween business marketing idea used by many chocolate companies and other brands is they launch limited edition products. This practice of launching customized products keeps fans eager for your companies collections. This practice increasing brand value and trade.
There is an added advantage when the product also targets Christmas. Starbucks, in 2003, launched Pumpkin Spice Latte flavor. This product might not have been wholly linked with this scary day.
Source: Starbucks Coffee Company
However, this flavor is available only during the months of September to December. Along with many other limited-time products, it has become a trendy item. This product is selling more than 200 million units over the last 15 years.
Plan your limited edition products in such a way that they are unique and catchy.
3. Bring back fun with Halloween contests:
User-Generated Content (UGC) is a successful way to attract customers. Running a themed Halloween social media contest for your Company or business is the best way to get UGC.
This scavenger hunt time is all about Halloween outfits, pranks, fun, and entertainment. By launching such themed festival contests, you can bring in a lot of organic traffic.
Source: Mochi shoes
Social media algorithms are being modified over a period of time. The algorithms for Facebook are prioritised for posts with meaningful interactions i.e., post which has a greater people engagement (comments, likes, and shares) appears on top of your feed. For Instagram, the algorithm is set to feature new posts on the top.
Hence to avoid such risks of a failed campaign, promote the contest through paid media. This contest idea is to not only get UGC but also to generate brand awareness to a new audience.
For these spooky media campaigns, you can give corporate gifts to the top one to three entrants. Otherwise, you can have one main prize and provide coupons to all entrants to redeem at the store or online.
4. Offer Spooky Deals or Discounts:
This creepy day is the time where 40 percent of the buyers start their holiday shopping.
When you club coupons, deals, or discounts with holidays, your customers, it encourages them to take up these luring offers. This 2019 Halloween is one that will not ‘trick your customer but will only ‘treat’ them.
You can give discount vouchers, coupons, or deals on the themed products of your Company. Else you could do the same for all commodities depending on your companies retail strategy.
Offering discounts or coupons just around the holiday season can lure customers into shopping for more than they would have.
5. Customize your Social Media Pages:
You can create your vouchers, images, and other similar products in the same manner.
Just like your Website, try customizing your online pages into creepy themes. This ecommerce trick attracts customer’s attention to your establishment. Customizing social media sites is an essential ecommerce methodology. On the other hand, it is a great Halloween marketing idea 2019.
Customizing is necessary as the current trend is all about web networking. Most of the traffic flows through your online channels. When you add a little pinch of holiday touch to your social accounts is always welcomed by the customers.
You can customize your online pages using Dot Template.
6. Launch theme-based Media Marketing Campaigns:
After customizing your online channels, you should tailor your social media posts too.
As trick or treat occasion is not as huge as Christmas, you need not have to customize all your online posts. Yet, you should have at least two Halloween posts a week during October and September.
Your themed campaign shouldn’t be only about these one or two themed posts. If any other thematic promotions of your organization are running, promoted them too. Use regular web posts and standard online advertising for promotions.
Online advertising can be done using Google, Amazon or other social media.
Generating Social media campaign templates is very easy.
Choose professionally created templates from their library.
Upload your personalized photos or you can select from their images.
Add filter and text.
Save the template and share it with others.
7. Run a Themed Email Marketing Campaign:
Source: media tumblr
Adding a small theme to your email campaign can boost sales, or bring in brand awareness for your firm. When you link festivals to industries such as health, security, or other services, it adds benefits.
Dentists and doctors can share emails about the risks of overeating candy, or the type of candy children should avoid.
A company selling security services could share tips on how to stay safe during trick-or-treating.
A restaurant can share details of exclusive food items and discounts at their place.
One email marketing tip is to include a sized image for sharing on social media. This image can feature one or two tips that allow people to share among their family or friends.
An essential point for you to keep in mind is that you shouldn’t change the frequency of your email marketing. Changing the frequency rate can turn the mails into Spam.
Decorate your whole restaurant in a scary theme.
Launch special offers, discounts, coupons, combo offers over food items.
Burger King, during this trick or treat season, launches a spooky campaign every year called, “Halloween Horror Nights.”
Source: Burger King
9. Host an Event
“What should we do for Halloween?” is the question everyone would have on their minds. Answer their call by hosting an event under your banner. Your event could be a simple Halloween theme contest or a blockbuster show.
One best idea of an event is the Pumpkin Carving Contest. The Carving can be about themes for your Company or Name of your firm. Hosting an event is an impactful ecommerce idea for small businesses.
But whatever you plan for, propagate the event as early as possible so people can block their dates for it.
Promote your event via emails, web channels, or any other media according to your budget.
Writing a Halloween theme content is an attractive way to grab customers’ attention. You can write about various topics like History behind this Spookiest year? What to wear, How to Celebrate and other related season topics.
Writing about the small articles, and publishing them online increases organic traffic. Along with the post, you can add about the ongoing Halloween 2019 ecommerce campaign or deals you are offering for 31st October. Use SEO (Search Engine Optimization) Tools for optimizing your blog.
Call to action is a necessary step when you are providing customers with such content. Most of the customers tend to look for a call to action once they feel the blog interesting. Hence you should always guide such leads to your merchandise page.
Blogging is an essential SEO (Search Engine Optimization) recommendation. When your SEO ranking improves, it makes your site rank higher. If you have no idea about how to do SEO or other digital marketing technical works, you need not worry; you can follow the easy SEO guidelines.
11. Use Hashtags:
Hashtags are the basics of all social media platforms. Hashtags organize similar events, ideas, and trends together. When you check for that particular hashtag, you can view all related posts at a single platform. Adding hashtags like linked with this creepy night like #happyHalloween, #trickortreat, #HalloweenCostume, add an advantage.
Social media channels are full of videos and photos for these specific hashtags.
A hashtag contest is the simplest way to gather user-generated content (UGC). It increases brand awareness and reaches a new target audience.
If you are facing a problem in creating hashtags or want to cut some time in creating hashtags you can generate trendy hashtags using: Seek metrix for Instagram and Facebook and Hashtagify for Twitter.
12. Plan for Giveaways:
Free Giveaways are the best way to gather UGC. It is the human tendency to get anything that is FREE. Free Giveaways help in exposing your brand to other customers. When you implement such marketing ideas, people are most likely to participate.
When you plan for giveaways, include aspects such as share, tag, or like our social media pages. This helps in free promotions and increases organic traffic.
Never do a bogus giveaway. When you announce a giveaway, there should always be some or the other item which would reach the winners. When false campaigns are run, customers lose trust in you and would not recommend buying from you in the future.
Giveaways gifts need not be costly. They can be anything related to that particular holiday and promote your brand. For giveaway ideas, you can refer to Give away monkey site.
Here are some of the easiest and effective Halloween social media contest ideas for giveaways:
#1. Run a photo contest:
Photo contests are among mostly loved contests on the web. These contests get your entrants involved in the contest themselves. Running a photo contest helps you in collecting user-generated content (UGC). This content you can use in your future for retail purposes.
Apart from these outfit photos, another vital aspect of this ghostly day is weird makeup photo updates.
A social media referral contest helps you generate social engagement. A referral is where your giveaway or company page is shared. When participants refer your Company with others, they help in promoting your brand. This is a fantastic way to build a social following and spread the word about your brand to others.
#3. Share entries
Source: Pepsi Nepal
Sharing Entries on Facebook and Instagram has been a best practice for giveaway campaigns. These share entries contests firstly involve the purchase of your Company’s goods. Secondly, they help in the free promotion of your brand on social media. It increases sales of your brand as well as brand awareness.
13. Team Up with Similar Campaigns:
Teaming up with similar 2019 Halloween social media campaigns is a wonderful ecommerce idea for small organizations. You can create promotional materials that highlight what each Company is offering. This extends the target audience to large portions targeting both organizations. This idea can come to implementation at any point during the year. Yet, it works very well during significant promotional periods.
So, these are a few tricks which you could put in place this quarter. Remember, these marketing strategies are not limited only to E-commerce. They can also be used for realtors, real estates, apartments, and restaurants. Also, the only mantra to boost your business sales is by planning it accurately.
We hope that these marketing ideas are of great help to you this holiday season. If you have other ideas of marketing, do share it with us.
We also would love listening to your stories about how this holiday season marketing. So, do write to us in the comment section below or contact us.
Best wishes to you and your Company this Spookiest day of October, Happy Halloween!!!
Majority of the economists in the United States are saying that the next Recession is coming. Unfortunately, all the signs are pointing towards the looming Recession 2020. We can expect that this time, the Financial Outbreak will be massive and also quoted as the “biggest so far.” If we check with the economists, the main reasons behind the Outbreak are “US-China Trade war” and “Inversion Yield Curve.” So, we can clearly, anticipate how the crisis would be, because marketing during the bankruptcy seems non-sensical.
What is a Recession?
Generally, Recession is Financial Crisis when the GDP growth rate is negative for two consecutive quarters or more.
When there is a contraction in Business Cycle, generally there is a decline in economic activity. Slump usually occurs when there is a drop in spending. Typically, Slump is due to a lot of aspects such as the Financial Crisis, an external trade shock, or outburst of the economic bubble.
During this type of Financial Crisis, like Downturn, marketing agencies are the first ones to get affected. According to Forbes.com:
The furthermost reaction from most of the companies, during this Recession period is to cut, cut, cut everything, and the first one in the queue is always Advertising.
How do you know a recession is coming?
The two significant factors that tell about how we can know Crisis is coming, is mentioned below. Read the whole thing to understand better how economist reach to a conclusion regarding Slowdown.
If you follow all the studies and forums about the Economic Outburst, then you will know that yield curve forecasts about the Trough. Since 1970 it has been seen that the slope in the yield curve becomes negative before every slump. It is called an “inversion” in the yield curve in this the short maturity rates, exceed the high maturity rates that lead to Great Contraction. The below graph showcase the ten to the two-year yield curve
Yield Curve is usually, based on ten years treasury note just fell below the rate on the 3-month bond. It is the first time we’re are moving forward with limited data. All the Central Banks over the world are worried about this Great Financial Crisis. You can see the graph below, which showcase the estimated bankruptcy probability.
FED is trying to neglect the Outburn 2020 to maintain full employment. It is of the critical targets that everyone is looking for. The Alerting situations raised by monthly Yield Curve is making FED worry. As most of the banks invest majorly on treasury bonds, it is an alarming situation for Banks.
US Trade War with China
It is a known thing to the whole world, that how big competitors are US and China and behave as the Global Predominants rather than Partners. The raging trade war and currency war are the reflections of what these two countries are doing. However, the long term conflict indicates that the ceasefire will continue, as a result of this economy of both the countries will impact severely with no long term peace.
However, the Fed was sending signals that aim to pull back on the increase rate made in 2018, that include the concerns in the economic outlook that include Trade war with China.
Mr. Trump has recently blasted the Fed for not reducing interest rates. It is under the belief that the interest deduction will lead to more lending activities and will make the US dollar more competitive with foreign currencies.
According to Nouriel Roubini, a Prof. at NYU Stern School of Business predicts that:
The Global expansion will continue till next year, while the conditions will ripe for the next Global Recession 2020. The Global stimulus packages are coming to an end, inflation is coming, trade disputes will drag the economies by pulling down the interest rates.
For, both the US and China, it is essential that they should make peace and don’t escalate the war to the next level. To a point where there will be an unnatural end to all the supply chains.
When is a recession coming?
Most of the economists and surveys are predicting that by the mid of 2020 Outburst will start it is even predicted that it will have 38% impact on all the sectors, in later 2021 the outburst may have 34% impact. There is already a 2% decline in the manufacturing industry.
Will there be a recession in 2020?
As it is said, “better than you expect and worse than you even hoped.” However, according to the National Association of Business Economics (NABE) latest survey, which is based on 53 professional economic forecasters.
The consensus, clearly showcase that the economy has grown to 2.8% pace in the year 2018 while coming to 2019 the growth with come down to 2.6% pace growth, that will decrease even more in the next year 2020 and become 2.1% pace growth.
However, if we take US Presidential Elections into account, some of the marketers say that it will come before the Presidential Inauguration. During, this time the job growth will continue to be in brisk, with a decrease in average monthly increase, which is 184,000 in 2019 and it will be 139,000 in 2020.
On the other hand, the residential investment in 2020 will see a downfall to 1.3% from 2019 level. All these situations rightfully indicate that yes there will be a recession in 2020.
Only 2% of the 226 respondents will see the US recession this year, compared to 10% survey that showcased in February. There is the panel split to discuss whether the next Recession will hit 2020 or 2021.
Recession in US 2020
The first impact of the US Recession is Job loss. Not just in the US everywhere. During Credit Squeeze, there will provide no cashflow, and firms will be facing an economic crisis; Job loss becomes the primary issue. On February 2010 it was recorded that the US economy is shakier than that of Canada’s. Most of the service industries have reported the dropping in their market price value.
Between 2007 and 2009 there was a massive loss of the job, a total of 2.6 million people lost their jobs, the highest in 6 decades. The number is equal to the amount of the post found in the states such as Wisconsin.
A majority of the economist are saying that the next recession 2020 US will also be a part. However, according to the NABE recent survey, Donald Trump scratched out all the looming Credit Crunch in US news and stated that:
US is well prepared for all the situations. I don’t think we are having recession. we are doing tremendously well. Our Consumers are rich.”
Mr. Trump has recently given a massive tax cut, and he believes that people have saved and already have money.
According to Larry Kudlow, the chief economic advisor of President Trump:
Consumers are working at a very high wage. They are even, spending at a high rate. People are also saving money. So I think the second half, the economy is going to be good in 2019. I sure don’t see a recession.
Recession in India 2020 or मंदी
The Global economic decline in 2007 or मंदी started in December, the impact on India was enormous; the GDP growth slowed down to 9% in 2007-2008. After Wall Street collapsed in September 2008, the Indian GDP decreased to 5.8% and remained the same for the quarter.
In 2008, Indian high foreign exchanges reserve, prevented a lot of chaos, even after the foreign investors withdrew $12 billion from the stock market and foreign credit suddenly vanished.
During the Great Recession, according to the survey of Labour Bureau Ministry of Labour Employment: 500,000 people lost their jobs between 2007 to 2009 from eight primary industry, Information, and Technology, BPO, automobiles, gems, and jewelry, transportation, construction, and mining industry.
Source: Govt. of India
Nevertheless, there was a significant decline in the output of Automobiles, commercial vehicles, steel, textile, petrochemicals, constructions, real estates, finance, retail activity, and other sectors. Exports from India fell by 12% in October in Dollar terms.
For India, the Global Economic Crisis is coming, and the increasing trade war will lead to lessening external demand. All this could be heavy on our payment balancing, can damage the foreign financial outflow, and trigger exchange volatility.
According to Prof. Biswajit Dhar of JNU:
Indian exports that shrank down recently, is expected to remain affected as the trade barrier is hardened and their is the ongoing Trade war, all the countries around the world will try to protect their domestic exports.
Keeping trades aside, the oil exports will also be hampered. Given that US oil export from India has increased to 3 fold between November 2018 to May 2019.
The measure took for Indian Recession 2020
In a recent press conference with Indian Finance Minister Nirmala Sitharaman on 23rd Friday 2019, she slew all the safety measures that the Indian Government is taking. Regarding the steps FM Nirmala Sitharaman told
पूरी दुनिया के मुकाबले भारतीय अर्थव्यवस्था बेहतर है। निर्मला ने कहा कि आज अमेरिका और चीन जैसे देशों के मुकाबले भारतीय अर्थव्यवस्था कहीं ज्यादा बेहतर है।
Adding to this, FM Nirmala Sitharaman explained about all the necessary steps; the Indian Government is seeking to overcome the situation.
To boost the Auto sector: the govt has lifted the ban on govt bodies from replacing the old vehicles. The govt is asking to “Go and replace your old vehicles.”
Rs 100 lakh crore is pumped for infrastructure. A task force has been assigned to expedite this investment, who will fund the money and monitoring every activity. Delayed payments will be on priority. Liquidity flow will be smoothened.
The timely refund of GST for the MSME, all the pending refunds have already started and will be completed in 30 days. The future GST refund will be sorted in the next 60 days.
Source: Govt. of India
The papers related Loan closure amount will be given in 15 days of the closure. Banks will improve the One Time loan Settlement (OTS), that will help MSME by implementing the checkbox system.
RBI has directed all the banks to release the benefits of the Repo rates to the customers. The primary target of Government is to diminish the interest rates and auto rates.
For the Banking sector, FM announced that:
“Government is releasing 70,000 crores, with additional lending of Rs 5 lakh by providing upfront capital to PSB” This will help strengthen MSME, retail borrowers, and traders.
Government removes Angel Tax on Startups.
Encouraging investment in Capital Market, it is even decided to withdraw the enhanced surcharge levied by the Finance No. 2 Act 2019. The pre-budget position is restored.
Violation of CSR will no more be treated as a criminal offense and instead will remain as a liability. After 1st October 2019, income tax orders, tax, the summons will be issued through the centralized desktops.
This clearly, showcases that India has already taken all the significant steps to overcome Downturn or मंदी.
Recession in Europe 2020
Europe has more than 75% chances to fall in the upcoming Credit Crunch according to the lead economists. The Stock Markets in Europe extended their losing streak. The oil prices have fallen 3%, and the mounting Stagnation continues to hit the investors confidence.
In the last six months, the top 100 firms in Britain have dropped more than 1%. On the other hand, the stock market in continental Europe has dipped in response to the investors who are thinking to raise funds.
FTSE 100 ended this Thursday, and it dipped by 1.1%, at 7,067 lowest level since February. On the other hand, German Dax fell by 0.7%, and French 40 backed down by 0.3% dragging the European market to six months low. Later, in the coming days, it is evident that Europe will be facing a Huge Stagnation.
No-deal Brexit UK
There is an increased risk of no-deal Brexit in the UK, as it is clearly visible that the no-deal Brexit will push the UK into bankruptcy. According to Boris Johnson of NIESR (National Institute of Economic and Social Research)
There is one in four chances that the country is already in recession, growth has also been stalled for in the recent months, business investments have flatered and pounds has fallen sharply.
The economist believes that the UK economy has diminished in the last three months, making the first negative quarter in the first seven years. As a consequence of factory closure planned for potential disruption around 29 March the Original Brexit deadline.
The European Central Bank has cut down the interest rates further as a negative territory next month. Most of the major Central Banks that includes the Eurozone’s are free of politics have not engaged in outright manipulation.
All, these situations indicated, Europe will face a Great Economic Downturn, majorly affecting Germany, UK, Italy, Portugal.
How long do recessions last?
There is no specific period for the Credit Squeeze, if we check the records than the Last Great Contraction was on December 2007 to June 2009, one year six months, 5.1% decline in the GDP.
Recession 2020 is due from 4.5 years if we take in to account the United States business cycles, the average length of the growth economy is 38.7 months or 3.2 years. On an ordinary Credit Crunch lasts for 17.5 months or 1.5 years while the full business cycle on an average is 4.7 years.
The Longest Financial Crisis or the Contraction occurred in 1929, known to be the Great Economic Contraction in the United States that lasted for 43 months or 3.6 years. While the second slowdown is known as the “Great Recession” that we all experienced in 2007 lasted for 18 months or 1.5 years.
How lousy will recession 2020 be?
The three things to keep in mind which all are true: Most certainly the USA will not undergo Trough right now. Yes, the US may avoid one of the disastrous foreseeable future. But, the chances of the US to fall in this Trough is increasing every week.
Long term interest rates have plunged since the end of July- there is a shift which historically predicts that the lower interest rates are cut down from the Federal Reserve. It showcases an increased risk factor in the economy into outright contraction.
However, a lot of Financial marketers have been saying that there will be no Credit Crunch for the US in 2020. On the contrary, there are plenty of proves which directly indicate about the near Financial crisis.
Here comes the most important one, due to President Trump’s, On-Off execution with China leading to Trade war with this other countries have fed uncertainty with business decision making. On the other hand, the corporate investment is lessening, even though tax cut by Mr. Trump will boost the investment.
According to an economist Tara Sinclair, of George Washington University
Recession 2020 is a self-inflicted wound type, but how deep the cut will depend on many other categories of the economy thereafter on the policy response.
Now the economy in China and the other neighboring Asian Countries are getting weaker, which is giving rise to the Trade war with the United States. While the Europeans who are already in large ongoing debts will surely fall in Credit Crunch. Incase, Britain crashes out of the European Union with no current exit deals until October 31st, Europe will face even more profound challenges.
According to the survey of the Institute of Supply Management (ISM), in the United States, the growth rate has slowed down for a consecutive month, and July has the weakest reading. All these factors indicate us how bad the Recession 2020 would be.
What happens during a recession?
Effects of Recession are a lot; all of them related to the Financial Crisis, in this period, there is always as tremendous negative economic growth. You can see all the Financial similar thing to be falling apart. We listed out some of the significant changes that take place during this period, check it out:
During the Financial Crisis, the firms produce very less, and therefore, they require very fewer employees. Nevertheless, some of the firms even go out of business during this period, causing the workers to lose their jobs.
If we take 2007-2009 trough into account, a lot of people lost their jobs who belonged to banking or finance sector. Simultaneously when the demand for the Cars fell, the workers were laid off.
Saving Ratio Increases
During the Financial Crisis, people become careful and tend to save money as the market falls. If people have a fear of losing their jobs, then usually people don’t want to spend or lose the money they have and instead start saving more money.
If we consider the previous surveys, it is clear that during the Great Economic Contraction, there was a Paradox of Thrift- as people tend to save more and reduce consumption. This makes the Downturn even worse as it reduces the consumption rate. Individually, everyone is doing the right thing by keeping, but as everyone targets on saving, then on a total consumer spending decreases.
Fallen Interest Rates
In Stagnation, interest usually falls. This is all because inflation is lower and the Central Bank tries to stimulate the economy. Lower Interest rates, help the economy from striking the Stagnation.
Lower Interest rates usually decrease the cost of borrowing and encourage investing and consumer spending.
Fallen House Price
Usually, the House Price falls before Stagnation strikes, and this is one of the critical cause of Recession. During this time, unemployment increases, people don’t want to invest in housing as they can’t afford mortgages, so home repressions become common. This leads to an increase in housing availability and decreased demand for it. This is one of the primary reason for the 2009 Recession.
How can different Agency survive in a Recession?
The best and the safest way is to diversify your clients. In this way, your work will not be just entirely dependent on one client from one region. If you have client contraction problem, it is better to plan to grab more clients.
Surviving in Credit Squeeze is what each and every firm wants. To make it easy for all the readers, we have listed out some of the top hacks that you can use.
Build Cash Reserves for your Agency
If you are new to the market, usually, companies under the span for five years should have cash reserves at least for a year. This can a combination of business checking cash plus personal saving. Until your business gets a constant monthly cash flow, it is always better to have a Cash reserved for future use.
This is important for the people in all sector because once a Slump has started,
Clients can slow down your payments, and even can cut-off the cash flow.
In worse condition, one of your more prominent clients may be forced to sell his business.
Either way, cash reserves are significant, if are having a Digital Marketing, or an Advertising Agency, it is recommended to keep reserves for at least a year. Marketing fields are increasing day by day. It is always better to be on the safe side by keeping some reserves.
Controlling the Client Credits and Invoice Clarity
When we come down to transaction a lot of firms work based on net-30 days terms. This means you provide a service and wait for 30 days to receive the payment. However, if it is the Economic crisis, then 30 day period might look a bit difficult for all type of firms.
Clients might ask to defer the payment with 60-days or 90-day payment
Sometimes, clients may even go out of business, leaving you with hard work and cashflow.
The alternate way, here is to check your client’s commercial credit, and eventually prepare your self especially during the economic crisis. You can provide your Client with a Credit Proposal according to your withstanding.
Try to implement, a reliable system for invoice collection, that reduces the overdue payment issues.
Outsource Your Services
During the Trough time, it is best to outsource your services, than hiring new people. It will lower the labor cost that will strengthen the bottom line, they will provide some cash flow, and the agencies can allocate their resources to research and development.
Outsourcing is a viable plan during the Trough period.
If we look at all the points above, we can conclude that all the suitable, reasons are indicating that the Downturn can be a bad one, mostly for the Countries and businesses will be affected by it.
For all the job holders, it is better to have faith in their savings for a year. So even if there is a situation of jobless, then their saving will be the biggest saviors.
Even if the Government of the different countries says that they are good to go and can face the next Slump and there will cause no damage, however, we suggest that it is better to save some Cash Reserve that is suitable for at least a year.
If you have any further query regarding Slowdown, do feel free to write us, through email or comment below. We will surely help you!
If you are a blogger and write articles and have a fear of your content can be copied, then you are afraid of the copyright and copyright infringement. Scammers and tricksters are even present in the Content, developing the field. While some of the issues seem to be legal, but, specific problems go beyond the line.
What is copyright?
It is a legitimate right which exists for each and everyone around the globe. This right allows the original work creator to analyze other people. Who has tried to copy or manipulate their work! This right exists for only a limited period.
Eventually, it rightfully depends upon the Act of Limitation and Exception to Copyright Law. Which also includes some of the fairways of usage. One of the most significant limitations of the Copyright Act is it only protects the original documents. Not the ideas and creativity which are present in the underlying one.
What is copyright infringement?
The works that are protected by copyright law. And later on, using those same works is known as copyright infringement without having any permission. This even includes some of the exclusive rights, such as the right to reproduce, the right to display, or the right to distribute. The original creator may grant this.
The original creator of the work is called as the copyright holder. The copyright holder may be himself or someone under him who is responsible for it. To avoid copyright infringement, the original creators usually take all the legal actions before releasing it in the market.
Below are a few steps to protect your content from copyright and copyright infringement issues:
IN FOOTER KEEP COPYRIGHT ALERT
If you have a blog, it avoids all the copyright issues are advised to add an alert regarding it. And maintain it with time to time. Although people usually don’t understand this and seriously, no one can stop. If the content is meant to be copied, it will be copied anyhow even with the copyrights.
Licensed Content means if a person wants to use your content, then the terms that he has to follow to your materials. And then post an alert which says that “all the rights are reserved.” Which can also be the part of the original copyright notice.
But, instead, if you want to get the creative outputs and want to make your work useful and used by others. The creation of its license is waste.
And the terms and rules and regulations should be mentioned explicitly for the external use of the work.
So, that no misunderstanding will be there in the future and it will not focus entirely on your site. This should be made sufficiently clear for everyone even if the readers who look for information.
TOOLS HELPING IN DETECTING COPIED CONTENT
Nowadays, in the market, there are numerous amount of available devices. Using these tools, you can detect where your content is or who is utilizing it: Google analyzer is the best tool for this and the most reliable one.
(source: Google transparency report)
It is straightforward to use in the below search option you have to give the URL of your work site. Then click the search button that’s it, it gives the whole report of the website that has copied from your site or the original site. In this way, you can track your content and how and where it is used?
COPYRIGHTS FOR THE IMAGES
People sometimes even copy the images from the original created one of the unique website. Somewhere below the picture try to write the copyright disclaimer. While people try to copy if they can find the disclaimer of the copyright issues.
The only solution for those who want to get free images is to check Free stock images. Nonetheless, there are a lot of websites which provide free photos without any copyright issues that too of high definition, you can use those images. You have to sign up for those sites and enjoy getting free and HD images. Some of the best places which provide free images without copyright issue are like Pixabay, Adobe stock, Usplash, etc.
USE GOOGLE ALERTS
If you have some static content and don’t know how to protect it as you don’t even have the RSS feed. That’s when Google alerts come as a savior. Sign Up for Google alerts and start creating signals for every page with various names, quotes, and phrases. Then you can get the RSS feed and email disclaimers when there is a copyright issue or copyright infringement.
FOOTER FOR RSS FEED
There are a lot of plugins that are present for different essential platforms. When it comes to RSS feed, it becomes necessary to add the footer. The blogs can be republished quickly with the conventional ways that are mentioned. To which you should be able to add some of the internal links which direct to your site with some copyright alerts.
Copyright Infringement has become a headache to the writes and daily work by the tricksters. We hope that you found some solutions for the issue if you are facing.
We will update with more such steps which will help you to keep your content safe from the tricksters.
Hope you liked our tips, if you have any query, do write to us, we will help you with the same.