Month: August 2012

According to the Entrepreneur's Organization, more entrepreneurs are seeing their endeavors and investments grow and scale despite a down economy. In fact, the organization recently released a survey that showed optimism throughout its membership.

The survey says that 59 percent of respondents reported a net increase in full-time employees through June 2012. In addition, another 62 percent of business owners expect their overall workforce to grow in the next six months.

Also, nearly 90 percent of respondents said that their access to capital held steady through June 2012 and even 31 percent claimed that it became easier to gain necessary funding.

"We are seeing some very positive signs from the world's entrepreneurial community," said Jason Jacobs, the lead researcher on the Global Entrepreneur Indicator initiative. "Hiring and revenues and profitability are all on the rise, and there seems to be a general optimism about the business climate. Compared to the pessimism we observed in the survey six months ago, the trending seems to be headed in the right direction."

When companies experience fast expansion and continue to scale up in order to maintain business, it may help for them to invest in employee management software. This kind of custom database software can help them maintain necessary employee information for payroll and tax purposes as well as help monitor important company information.

This corporate data can be used to assess which departments may need more manpower and which may be overstaffed leading to lost revenue. Regardless, the faster a company increases its workforce, the more organization it will need to keep track of the changes.

By consulting a FIleMaker developer, companies can effectively customize this software to fit the needs of their own rising corporation. 

When someone posted a complaint on a popular cycling forum about his Road ID tag – a Velcro bracelet that contains necessary identification information in case of a cycling accident – something “remarkable” happened, according to the tag-making company’s CEO, Edward Wimmer, speaking to Inc. Magazine.

Contributors to the forum began to defend the company, praising its customer service practices and showing intense brand loyalty. According to Wimmer’s interview with Inc., he believes much of this stems from their insistence in not using an interactive voice response (IVR) system for customer calls. This coincides with a recent Interactions Corporation survey, which found that 83 percent of consumers will avoid companies that use these IVR systems, faulting bad customer relations experiences.

“It’s not a contact center problem,” explained Interactions Corporation CEO MIke Iacobucci. “It’s a customer experience problem. Customer touchpoints go from the most basic to the most intensive, from Google searches to live calls. If each customer interaction is not consistently satisfying then each negative customer experience will translate into a decline of brand affinity.”

In addition to the 83 percent of consumers who will ditch a brand using IVR software, another 70 percent say that they will also use social media to share their bad experiences with customers, generating negative buzz for the business.

For these intensive customer touchpoint calls, it may help companies to invest in custom database software that can be used to power a customer relationship management system (CRM). The use of CRMs can help businesses enhance their customer touchpoints and provide better feedback and assistance by keeping track of critical client details.

In addition, by providing a CRM software for customer service representatives to use while speaking with clients, businesses can create a pleasant experience and help build the type of brand loyalty that Edward Wimmer and Road ID were able to experience.

The way businesses have used social technologies has developed and changed over the years. At its inception in the late 1960s, the internet was used as a way for major university departments to communicate more effectively with each other in a small and enclosed network. It has since developed into the World Wide Web that exists today, where nearly 1.5 billion individuals use social networks to share with each other, according to a study by major consulting firm McKinsey & Company.

According to their report, 72 percent of companies use social technologies in some way. While many companies use these technologies as a means to interact with customers and market products. The report also states that more potential value lies in developing tools for enhancing communications and sharing knowledge across company departments then with marketing. By using custom database software to create intercompany file sharing and communication lines, these businesses will most likely see a more effective workflow.

"Two-third of this potential value lies in improving collaboration and communication within and across enterprises," says McKinsey & Company's report. "The average interaction worker spends an estimated 28 percent of the workweek managing email and nearly 20 percent looking for internal information or tracking down colleagues who can help with specific tasks."

In addition, the report explains that a "searchable record of knowledge" can reduce the time employees spend looking for documents and information by as much as 35 percent, promoting better time management and organization.

By consulting a FileMaker developer to create an internal documents database or communication software, companies can greatly improve their overall productivity which can have a direct effect on their bottom line. 

Recent research has pointed toward employee engagement as a critical means of ensuring a solid bottom line for companies. But, according to Forbes Magazine, some research has shown that not only does a more engaged workforce contribute to better revenue, it also increases customer satisfaction – something that can be aided with the use of customized customer relationship manager (CRM) software.

The source says that companies that have more engaged employees create happier customers which, in turn, generates a higher profit. In fact, according to a Hay Group study, companies with a highly engaged workforce generated revenues that were two and a half times larger than those with lower levels of engagement.

But, fostering a more engaged workforce takes time, and may not produce immediate results. For businesses that need to quickly improve customer interactions, investing in high-quality CRM software can help employees who have direct contact with clients communicate more effectively in-house and access key data with more efficiency.

Some of the benefits that come from updated CRM software include the ability to maintain more accurate feedback channels with customers and track incoming and outgoing clients – data which reinforces advice from Entrepreneur Magazine on how to increase customer loyalty.

In addition to maintaining and learning from open customer feedback channels with custom database software or updated CRM software, companies can set up and oversee loyalty programs and accounts. This is, of course, more relevant to companies that provide a subscription program.

CRM software built by FileMaker developers can track a customer’s spending history to aid in the setup of these loyalty programs, which provide deals or benefits for the customers who regularly spend a certain amount.

While many companies may find that similar leadership tactics can be used across the board for most of their departments, this may not be the case for those that have or are developing their own in-house creative teams. These unique departments can be an incredible tool for improving a company's quality of work if supported correctly.

According to Inc. Magazine, many companies will keep creative work in-house – rather than outsourcing it – because their pace of work is too quick for the meetings and presentations that are involved when working with third-party advertising and marketing agencies. For companies that work at a fast clip, using creative management software can help creative workers stay organized.

In addition, by keeping creative work in-house, companies are better able to marry advertising and marketing efforts with website data. By doing so, employees will be able to produce more effective website designs and advertisements that increase ROI. In contrast, many third-party agencies may only be able to perform one or the other – either providing analytical services or creative work.

According to Forbes, when leading a creative team, managers should offer direction but allow space for creative thinking. In addition, it's important for managers to reward and encourage the emotional investment a creative team may put into their work. These individuals are often less concerned with monetary awards than producing excellent products, so supporting them through strong leadership and quality creative management software is important. 

According to Inc. Magazine, when it comes to selling a product, it's important that companies tailor their pitches and responses to address exactly what customers want to hear. By speaking to a sales team member who is able to provide some insight into the market and present challenges that can be solved with the product at hand, customers will be more likely to trust and buy the product.

In addition, establishing differentiation points from competitors will allow representatives to further establish their company and product as the best option. But, oftentimes, employees may not know these key statistics without help of customer relationship software that fits the needs of the sales staff.

"Big data needs to be a big deal for sales," said Jim Dickie, managing partner at CSO Insights, whose company recently published a survey on the importance big data for sales teams. "The amount of prospect information out there today is a blessing and a curse for sales reps. Our research shows that there is a need for new tools to help reps find the needle in the haystack. Leading-edge sales teams are already taking advantage with solid returns."

These "new tools" can be acquired by consulting a FileMaker developer who can create custom database software that will conform to the needs of any company.

By being able to accurately and reliably store key customer data as well as a historical record of all calls and customer interaction, companies stand a much better chance at converting leads. This is because the technology will allow sales representatives to gain more insight into what potential clients may need, and learn from the approaches of other sales or marketing executives. 

According to a recent Financial Times article on the International Security Forum's new project with supply chain data, consideration of this aspect of business has become critical to operate a competent organization in today's marketplace. But, while many experts in the United Kingdom may be focused on providing additional supply chain security, the Global Market Development Center (GMDC) based in Boston is concentrating on ways a company can improve its overall supply chain management with the use of better technology.

"With so many economic variables outside people's direct control, the best news from the survey is that there are specific actions that companies in the consumer goods supply chain can take today, like modernizing their forecasting tools, to improve their ability to raise profitability and service levels," says Mark Deuschle, chief marketing officer at GMDC.

According to a survey conducted by the group, 74 percent of managers would prefer a bottom-up supply chain forecast deriving from key customer and point-of-sale data. But, more than half of respondents don't actually have a forecast system in place beyond Excel spreadsheets, which may not allow them to effectively plan and coordinate with their partners. Furthermore, 41 percent of respondents said that at least one-third of their volume comes from advertising and trade promotions that will directly impact baseline forecasts.

It's clear that being able to accurately track and forecast supply chain demands requires technology beyond just a standard spreadsheet. In order to keep up with this burgeoning requirement, managers may want to consult a FileMaker developer to create a custom database software that fits their needs.

By maintaining such key figures as advertising and promotions demands, fill rates and in-stock numbers as well as point-of-sale data with a more dynamic database software, companies will gain much more visibility into their supply chain. 

In today’s online market, maintaining an excellent digital advertising campaign can be crucial. But, if companies aren’t keeping track of critical analytical figures – budgeting, advertising space and search engine optimization (SEO) data – then there’s no way to truly tell how well they’re doing.

For example, according to BIA/Kelsey’s Media Ad View reports, the Dallas area can expect to see a spike in video display advertisement spending. In fact, the analytics say this media spending is projected to nearly triple by 2016.

“Dallas businesses are still spending money on traditional media, but they are allocating an increasingly higher percentage of their advertising budgets to digital media,” said Mark Fratrik, vice president and chief economist of the consultancy.

While Dallas may only be an example, it’s clear that budgets and media buying is just one of many statistics that companies need to keep track. Doing so with custom database software, such as FileMaker, can help ensure their efforts are creating a positive return on investment.

But, Entrepreneur Magazine recommends that companies ignore a few analytical numbers in the burgeoning field of SEO.

According to Entrepreneur, companies may want to ignore where they place in the top 30 of Google search rankings and look closely at top 10 rankings. This is because many individuals hardly ever go past the first page in a Google search.

In addition, rather than tracking the unique views a website sees, a company should focus on the conversion rates from website viewer to customer. This statistic will paint the real picture of how effective a marketing campaign or website is.

Being able to maintain these statistics is crucial in gauging a company’s performance and impact on target audiences. In order to keep an accurate account of analytics, companies may want to invest in custom database software that can hold this necessary data.

With the Supreme Court upholding the Obama Administration’s landmark healthcare legislation known as the Patient Protection and Affordable Care Act, many changes are sure to work their way into the healthcare industry. The most recent began on August 1 with the introduction of a new provision that allows women to access birth control and other reproductive screenings and treatments for free – something that has been a hot topic between political parties.

But, another market sector that is expecting major changes due to the new bill is the nursing homes industry – technically referred to as skilled nursing facilities (SNF) – which, according to the Alliance for Quality Nursing Home Care, will expect to see a $4 billion budget reduction between 2009 and 2014.

“The staggering level of SNF Medicare cuts resulting from budgetary actions and regulatory changes since 2009 has brought one of America’s most important health sectors to the brink of operational viability, and is at a tipping point,” said Alan Rosenbloom, president of the alliance.

As the Affordable Care Act’s productivity adjustment is projected to cut $34 billion from SNFs over 10 years, it becomes clear that these important aspects of the healthcare industry may need to make some large changes in the near future.

While making these changes, facilities may benefit the most from using custom database software to manage crucial information. Keeping a sharp eye on expenses such as payroll, overtime and operational costs can be key in times of change and something that can be fulfilled with custom software.

In addition, consulting a FileMaker developer to create this database software can allow companies to implement a program that can grow and contract with the business, maintaining necessary information as the industry changes and adapts.