UK Budget 2015 – Election Acts as a Speed Camera on the Pace of Austerity

This Budget more than any of the Osborne Budgets that went before it had one eye on the election. Previous Budgets focused on protecting the older generation, and again we saw this today with the confirmation of more pension flexibility for those people with annuities. However the younger so-called ‘jilted generation’ also featured on two key fronts – first of all, with employers national insurance contributions waived for under 21s and an additional waiver for employers hiring young apprentices next year; and secondly with the Help to Buy ISA, through which first time buyers will receive a bonus of up to £3,000 for saving for a deposit.

While this is welcome and will undoubtedly be attractive to many first time buyers, in Northern Ireland it is perhaps less economically significant than in the South East of England, as the issue with the local housing market is that there are too many potential home movers in negative equity or with not enough equity to move.

Download the complete budget here (.PDF 218 KB)

Raising Personal Allowance

As in previous Budgets, the Chancellor has continued his theme of raising the personal allowance. Given that Northern Ireland has lower average incomes than the rest of the UK, an increasing number of individuals locally will be taken out of income tax altogether.

Over the next 24 hours, the media headlines around the Budget are likely to focus on populist measures like the beer duty reduction and the Help to Buy ISA. However, attention will quickly return to the public finances. While these are improving, as the Chancellor highlighted today, the challenges of reducing our debt burden and cutting public expenditure remain.

Indeed, there are an additional £12 billion in welfare spending cuts included in the Budget, which will bring further financial and political challenges for Northern Ireland in particular.

While the pace of austerity appears to have eased relative to the Autumn Statement back in December, people should be under no illusion – the UK faces a second Parliament of fiscal pain. Such a scenario was flagged five years ago by the Institute for Fiscal Studies (IFS). Day-to-day public spending is facing cuts in 2016/17 and 2017/18 that are more than twice what has been experienced on average over the last 5-years.

Effectively, the 2015 General Election has acted as a speed camera for the pace of austerity, and after May the austerity accelerator will have a heavy right foot on it again. It is likely that the most unpalatable medicine will be delivered at the start of the fixed 5-year Parliament.

Download the complete budget here (.PDF 218 KB)

Emergency Budget

Regardless of who wins the next election, a second ‘Emergency Budget’ is expected in June. Public spending growth is not expected to return until 2019-20. We also will face a Spending Review in the autumn. It is noted that in the first so called Parliament of pain, record low interest rates and a weak currency provided much needed tailwinds to the economy. Looking ahead into the second Parliament of pain, the public expenditure cuts for day-to-day spending will be deeper than experienced to date and the sterling / euro exchange rate is now a headwind not a tailwind.

Furthermore, it would be overly optimistic to assume that interest rates will remain on hold for another 5 years as has been the case for the last 6 years. Austerity may be easing and economic growth remains robust. Enjoy that combination while it lasts.

Download the complete budget here (.PDF 218 KB)

www.ulstereconomix.com

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Four Effective Ways To Enhance Your Online Advertising Efforts

These days, many business owners have come to realize that online advertising is an incredibly effective way to build their business. Because so many people around the world have now made online shopping an integral aspect of their life, using the internet to connect with one’s prospective clients can really send your conversion rates through the roof. In recognizing this reality, you may be ready to start investing your company’s resources into the design and ongoing development of a strong online advertising platform. If you’re ready to get started, consider implementing the following four strategies:

1. Offer Absolutely Amazing Gifts And Prizes

One of the best ways to attract attention to your brand and subsequently optimize conversion rates is to run a contest with an absolutely amazing prize. While giving away a promotional product such as a t-shirt or coffee mug can yield results, offering a truly exceptional gift will really turn a lot of heads and create buzz about your brand. In recognizing this reality, consider running a contest with a mind-blowing prize like a free vacation. If you’re looking for a company through which to purchase a vacation and have all the details secured, consider Royal Holiday. With over 30 years experience in the dynamic travel industry, this company can put together an absolutely amazing vacation package that will leave your contest winner thoroughly impressed.

2. Focus On Your Call To Action

One great strategy you should consider implementing when attempting to optimize your online advertising campaign is to focus on your call to action. This is an incredibly important part of your marketing efforts because it informs your prospective customer that you want them to do something. A great call to action will make it clear to the target audience that taking a specific course of action will be important and advantageous in a significant way. An example of a strong, effective call to action would be: “Fill out the contact information form below and start receiving our free e-newsletter today. Once you register, you’ll get free coupons and other wonderful discounts that help you save on all of our wonderful products.”

3. Be More Philanthropic

One great marketing strategy that many business owners fail to take into consideration is the power of being more philanthropic. As many marketing experts know, having your company engage in philanthropic endeavors is a great way to draw attention to your brand. Many if not most people like to see organizations making positive contributions to their local community and/or the world. Additionally, these individuals will oftentimes be more interested in doing business with you once they realize that you are generally interested in making the world a better place. If you’re ready to start being more philanthropic, note that there are numerous activities you can engage in to make it happen. One particularly effective strategy would be to offer a scholarship to a student who possesses financial need. Also consider the value of local can drives and efforts to preserve the integrity of the environment. To make the online world aware that you’re engaging in these philanthropic endeavors, be sure that you’re talking about them via your website and blog.

Conclusion

Business owners who are ready for their brands to become eCommerce magnets should know that the cultivation of a strong online advertising platform is a great way to make it happen. By implementing some or all of the marketing optimization techniques discussed in the subsequent paragraphs, you will likely find that your business starts to expand in a great way.

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Emotional Marketing: Focusing on Human2Human

A simple message can be memorable… you just need to strike the right chord. And the chord is deeply associated with different emotions of an individual. Similarly, your brand should speak to the customers at an emotional level. Many leaders discuss about customer-centric services, but I wonder if they actually walk the walk and execute their plans into actions. In this post we discuss emotional marketing or emotion-centric marketing.

It is the time to focus on H2H (Human2Human) besides B2B and B2C

It is that time of the year when you look ahead and make exhaustive plans for your business. Just to remind you that strategising emotion-centric business plans will do wonders. To make your brand more appealing and memorable, start emphasising on creating more perceived value and personalisation. As rightly said by Mother Teresa ‘If I look at the mass, I will never act, but if I look at the one, I will.

Strike the emotional connection with customers

So what does emotional connection mean? It is all about understanding the heart and mind of your customers. It is more psychological than logical, and more of unconscious than conscious. It has been observed that customers become more engaged in a personal way and expects to be more positively and emotionally treated at every level of their pre and post purchases.

This means that today’s service providers should develop and demonstrate higher level of competency to deal with emotions of the customers.

Emotionally engaged customers are:

  • Three times more likely to repurchase
  • Three times more likely to recommend
  • Less price sensitive
  • Less likely to shop around

A comprehensive guide to focus on customer emotion

Ask a few questions to yourself before you get into the action.

Ask yourself:

  • What customers get from you that they cannot get from anyone else?
  • Do you leave each customer with a feeling of strong support?
  • Do you make them feel empowered with your services?
  • Do you deliver all your promise on time?
  • Do you apologise when things go wrong and fix the issue?
  • How well do you handle negative comments?
  • Do they actually laugh because of your company’s fun-loving nature after they get-off the phone with you?
  • Do they recommend your brand to others?

If you’re good at managing these factors, you’re surely to win your customers heart.

Knowing customer as an individual and not someone among the masses

Knowing your customers exact wants and aspirations and most importantly their expectations from your service helps you to create a strong and positive emotional connect with them. Not only it builds loyalty, but also inspires repeat purchases. A repeat customer is five times more valuable than a new customer.

It is not about sharing your stories only, but also listening to your customer’s stories

Besides sharing your stories, ask your customers to share their ‘good and bad’ experiences with the sales team at a quarterly basis. Invite them to speak to your department head and resolve any queries they might have. In fact, customers should be a part of the everyday and the important activities. After all, many small changes can add up to a big result.

Selling a required mobile application to a customer is not the end of your responsibilities. The follow up effort to know whether the application is functioning properly, served the purpose, anyone in the family or friends require the same application or not is important. This gesture makes your customer realises their value in your business.

Personalised communication

Customers prefer products, services, packaging and communication that are visually and audibly appealing. They want to do business and communicate with those brands that recognise their needs, make them feel good and provide them with an identity. For instance, working with variable data printing can be the ultimate solution. They’re used to personalise and customise every communication element including adverts in magazines, brochures, publications, invitations and much more to add. Right from offers, graphics, texts and images can be modified to best meet the customer’s wants and desires.

Engage their senses

Visual communication is an excellent way to engage your audiences’ attention. And the best way to harness their senses is to appeal to your customer’s imagination. Talk to them either with explainer video or hosting a webinar and help them imagine an experience with your company’s products and services. Remember, customers, buy or do business because of what they’re feeling, and not necessarily because of what they’re thinking.

The right emotions to strike:

  • Surprise and laughter that drives emotional satisfaction and sharing
  • Intrigue and mystery that creates curiosity and drives exploration
  • Urgency and fear that incites a feeling of missing out
  • Desire and aspiration that stokes contemplation.

It is the emotional benefits that actually turns product into brands.

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Quick Response Voice Over

The original QR, quick response code, was initially developed by Denso Wave, a Toyota subsidiary, in 1993, as part of car assembly operations. QR codes are Alpha Numeric, high capacity, quick scan, codes.

The QR code received added applications with the advent of the Smart Phone.

In more recent times an Irish company has re-engineered, and greatly enhanced the code with, non industrial, more consumer friendly applications. The QR code now becomes QRVO, Quick Response Voice Over, an information gateway. QRVO now includes, a consumer friendly voice over introduction, and is linked to analytics and social media.

Smart Phone and Mobile Device users simply scan the code, no URLs, no special password, and are directed to a web site, special offer, video, graphics instructions etc.

QRVO

Clients are assigned a dedicated QRVO which can be deployed as standalone signage, overprinted on conventional material, business cards, outgoing emails. The code remains constant and the content can be changed remotely. The client receives regular traffic updates.

The QRVO Partner channel seeks to engage with those in the ticket distribution area with a view to incorporating QRVO onto the ticket/token .The outcome is an opportunity to utilize the arrangement to promote/advertise local enterprise and events. The QRVO code is overprinted on the ticket/tokens and the content can be regularly updated. The value proposition will be determined by the numbers of tickets issued.

The local business gains, insofar as QRVO provides an additional engagement/ information channel. The analytics reports allows for evaluation, response and impact. Linking to Social Media can also be of benefit.

Car Park providers can gain as it provides a business support platform. This programme reduces some of the associated negativity and presents a value to the end user.

Operation

The value proposition is based on the number of tickets/tokens issued in a given timeframe.This then becomes the cost base for week long promotional modules. The actual code remains intact and the content is changed remotley.

The client determines the Terms and Conditions, and . of course, the content. A traffic analysis report is issued to the client after each module to evaluate traffic and impact.

Discussions are currently underway with Public and Private car park operations where Pilot Schemes are being considered.

qrvo_business

Witten by John Moran | QRVO Business Development info@qrvo.ie 087 25 27 407. As part of ‘Use SBC as a channel initiative, QRVO has a special 10% discount on Standard QRVO orders to SBC members and readers.

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Digital Marketing for Small Business – the Basic Practices

Small businesses are faced with more than a few trials, especially in the first couple of years of their inception. According to Bloomberg, 8 out of 10 businesses fail in the first 18 months of their existence. There are numerous reasons why people lose their business investment, and why small businesses crash and burn so fast, but we are not here to discuss that. We are here to discuss how you can actually keep your business alive. In recent years, more and more businesses focus on digital marketing, and the Web itself keeps evolving to meet their requirements. There are numerous benefits to digital marketing that fit the purpose of SMBs like a glove. Still, many resources would have you believe that there is nothing to it and that anyone can do it, which isn’t entirely true.

Digital Marketing and Your Web Presence

It is only proper that we start from the basics. Your website is the digital equivalent of your office or shop, depending on what kind of a business you are running. It needs to serve the purpose and look good. This is something that you need to keep in mind during the creation process. Make sure that you consider the profiles of people that are most commonly going to visit your website, and their IT proficiency as well. Furthermore, you need to identify the right platform to build your website on, and this will depend on the functionalities that you require. WordPress is a universal choice for general use, Magento is a popular choice for eShop purposes. If you are really planning on putting up something big, then a customer solution might be in order. All in all, make sure that you hire some experienced developers to help you out. You also need to make sure that your website works without a hitch. It is supposed to be a valid presentation of your company, and if the users run into a buggy website, they will start doubting your abilities. It is probably better not to have website at all than to have a bad website.

Blogging

It is a standard procedure to include a blog within your website, but a lot of people are not aware of this. The reasons why you need to include a blog are numerous. First of all, it will help you with building a name for yourself as a niche expert and creating a voice for your company. Secondly, this is a great way to create sharable and engaging content in order to pull in new traffic and keep people on your website. There are also numerous SEO benefits that having a blog pulls in.

SEO

If you want people to be interested in what you have to offer, you have to deal with search engine optimization. There is simply no way around that. The amount of new traffic you will receive is directly related to your optimization, and there are a lot of SEO factors you need to satisfy in order to get results. Still, this is a process, and you shouldn’t rush things. Take it one step at the time.

Multimedia Content

We’ve mentioned blogs and textual content, but what about photos and videos? Well, video content is the most commonly shared type of content in the online environment, so it is crucial that you have at least some of it at hand. Your textual content needs to be backed up with videos and photos in order to increase its sharing potential.

Social Networks

The best places to reach new customers and engage with the old ones are social networks. Depending on the purpose for which you intend to use the social networks, you might want to target different ones. Facebook has great targeting ads, and is one of the most generally used networks. Twitter is generally used for business purposes but can be complicated to use, especially if you are new to it. LinkedIn is a must these days for any respectable company, and it is great for hunting new talents, connecting with competitors, keeping up with industry trends and so on.

Tie all of these together, and you are surely to reach a lot of people. Still, each of these things seems rather straightforward, but these are just the basic overviews of important aspects of digital marketing. There are tons of details you need to work on, and you need to put in a great effort to turn them into a perfectly functioning mechanism. Hope this helps!

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Google Warns: FBI Wants to Hack Computers Worldwide

The search engine giant is boldly opposing any move by the US Justice Department for expanding the powers of the FBI of searching and seizing digital data. Google warns that if the changes are implemented, the US government would be able to hack any facility in the world. The company made a strongly worded submission about the proposed changes, which are being considered by a Washington committee. In its submission, Google has said that ‘highly complex and monumental constitutional geopolitical and legal concerns’ would be raised if the powers of the FBI given in search warrants is increased so the Congress should be allowed to make the decision.

Covert Raids

As per the warning given by the search engine giant, the updated proposals would give the FBI agents the authority to conduct covert raids on servers regardless of their location, which would mean that the US government would have clear and global access to huge amounts of private information. Google has sounded the alarm in particular over the desire of the FBI to search those computers ‘remotely’ that have concealed their location by obscuring their IP addresses or via encryption with the aid of anonymity services. Google said that such government searches could be done in any part of the world.

The US technology giant is that this threat is not simply theoretical because under the proposed amendment and due to the nature of today’s technology, the warrants would allow the US government to conduct searches outside of the US as well. The search giant raised its objections in a public consultation that drew to a close on Tuesday. The Advisory Committee on Criminal rules will consider the objections made by Google and 37 other interested parties. This party may be obscure, but it is powerful and comprises mostly of judges that have control over federal rules that also pertain to the FBI’s actions.

Warrants in a Digital World

When wishing to search a property, federal agents are required to apply for a warrant to a judge. Rule 41 is the existing rule, which states the authorizing judge has to be in the same location as the property that’s the target of the search. According to the argument made by the Justice Department, this is no longer suitable in today’s modern computer age. It wants to widen the scope of the warrants so the FBI would have the authority to search the property, including computers, outside the district of the judge.

It has been argued by the FBI this new power is crucial in those investigations where criminals have hidden the location of their computer networks. The Justice Department has attempted to assuage the anxiety over its proposed changes stating that this new type of warrant would only be sought by the FBI agents when they would have probable cause to search and seize the instrumentalities and fruits of crime. Nevertheless, they haven’t managed to convince the legal groups and civil liberties that claim that the vague language used in the amendment would have huge global implications.

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The Wheels on the Bus go Round and Round: 3 Universities in One Day

If you want to find out what the best and brightest in Dublin universities have to offer, you now have an opportunity to do so. In one day. Across 3 universities. All you need to do is book a ticket and get on the bus (literally!). Once you book, we will take care of the detail and tailor a tour to your needs and the sectors you are interested in.

Inspiration, information, connections and resources 

You will get opportunities to network over breakfast, lunch and over some drinks when the day is over. But more importantly you will receive the inspiration, information, connections and resources to give your company a boost for the future and an opportunity to
engage and find out what the  universities can do for you.

3 universities in one day

Book now or contact ron@smallbusinesscan.com for more information

First come, first served

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The wheels of the bus go round and round…… 3 universities in one day

Great news. If you are fortunate enough to be in:
• Software
• Banking
• Finance
• Biotechnology
• Data analytics
• Sensors
• Cloud computing
• Content analytics
• Material science
• Engineering
• Telecoms / Communications
• Health
• Health & Human Performance
• Materials Manufacturing
• Diagnostics
• Manufacturing competitiveness (Pharma)

And if you want to find out what the best and brightest in Dublin universities have to offer, you now have an opportunity to do so. In one day. Across 3 universities. All you need to do is book a ticket. Once you book, we will be in take care of the detail and tailor a tour to your needs and the sectors you are interested in.

Inspiration, information, connections and resources 

You will get opportunities to network over breakfast, lunch and over some drinks when the day is over. But more importantly you will receive the inspiration, information, connections and resources to give your company a boost for the future and an opportunity to
engage and find out what the  universities can do for you.

3 universities in one day

Book now or contact ron@smallbusinesscan.com for more information

First come, first served

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6 Tricks to Design Your Workstation the Creative Way

The environment in which you work often determines how productive and creative you will be. When you work in a workstation that’s dull and colorless, your productivity usually will be inhibited and your creative juices will be less likely to flow.

6 tricks to design your workstation

Your workstation – whether it is at home or an office with other people – says a lot about who you are and how your personality affects the way you do your job. Each particular workstation configuration tells its own story about the person who works there.

Having a workstation that promotes creativity and success is especially important if you have a job in which creative thinking skills are important, such as a graphic designer or web design professional.

Regardless of your job, you are probably going to be spending a lot of your time – if not most of your work week – at your workstation. So it might as well be an environment that is comfortable and puts you in a good mood so you can be more productive.

Trick Number 1 – You’re Going to Need Some Boxes

Get yourself a few simple storage boxes. You are going to need them to organize your office and clear out the clutter. You can purchase plastic or cardboard boxes at any office supply or home improvement store. Or see if you can get some boxes for free from your local grocery store or other retail business you frequent.

These boxes represent your decision to make positive changes in your workspace. They tell the world – and yourself – that you are finally ready to take action to be more productive.

Trick Number 2 – And Away Goes the Clutter

If you don’t have an effective management system in place for your paperwork and other clutter, it can easily get disorganized and impede your creative thinking. Look around your workspace: Are there piles of papers and reports everywhere? What are they? Do you really need them?

The first step is to clean everything off the surface of your desk, other than your computer and telephone. As you are removing each item, ask yourself this question: “Have I touched this particular report/paperwork/other type of clutter in the past week?” If the answer is “yes”, put it into one pile. If the answer is “no”, put it into another.

Most of the items in your “no” pile can be stored away or thrown out. This is especially true if they are printed duplicates of reports or paperwork you already have stored in your computer or can access online.

The majority of the items in your “yes” pile also can be stored or tossed. Unless a particular report or paperwork or other item is something you absolutely need to have access to today, right now, then it has no business being on your desk. And it’s time for it to go bye-bye!

Trick Number 3 – What’s the Deal with Your Lighting?

Lighting is an area that is often overlooked, but actually can have a profound effect on both the appearance and productivity of your workspace.

Take a look at your lighting right now. Are there two separate sources of light in your room? One should come from an overhead lighting fixture or, even better, from a natural light sources such as a window. The second should come from a task light.

Trick Number 4 – Have a Focal Point

Having a focal point in your workspace directs your attention so that you can more easily keep on task. For many people, this is the laptop or PC at your workstation, but it also can be something like a calendar, a to-do list or something else that keeps you on track.

If your computer is your focal point, improve its visual impact by surrounding it with some grouped artwork or installing a screen saver or background that you find especially inspiring. This can be something like a goal you are working toward.

An area rug can also “anchor” a workspace and make you feel more grounded as you work productively.

Trick Number 5 – Colors Matter

Different colors can have a profound psychological effect on the brain, studies have shown. Colors that are “blaah”, such as oatmeal or khaki, do little to inspire creativity. Strong, vibrant colors can be oppressive and can overwhelm the senses.

Decorate your workspace with a neutral shade and a touch of color to inspire your creative side. Yellow is known to stimulate creativity, mental activity and clarity of thought. Red is aggressive and promotes selling or making deals. Blues and greens are soothing. And orange encourages socialization.

Trick Number 6 – Inspire Yourself

Find something that motivates you in your work and use it to keep you inspired. This can include such things as family photos, an inspirational quote, or even freshly cut flowers.

These six tips can help revamp your workspace so that you have a refreshed attitude and are able to take a bold, new approach to your job.

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Growing Team? How To Start Holding Better Team Meetings

Team meetings create the foundation for project planning, goal-setting and team communication. When the team begins expanding, it can be tough to keep everyone on the same page. To improve the productivity of the team meeting, there are a few important methods to use to get the most out of it and hold better team meetings.

Specify the Purpose

Have a specific topic that will be discussed at the meeting. If there are multiple topics, make sure that they are related to the main topic. When too many random things are discussed, things tend to get off track and nothing is accomplished by the end of the meeting. Prepare an agenda that clearly lists the topic(s) to be discussed.

Establish Roles

People want to know why they need to attend a meeting. Clearly defined roles for each person will help to eliminate confusion and the ability to “pass the buck” to the next person. If everyone knows exactly what their role is and what is expected of them, the meeting will progress faster and the job will get done better.

Use The Time to Express Gratitude

All too often, business owners and leaders can come across as “all-business” during a meeting, often discussing what should be improved upon and changes the team has to adapt to. Employees need a morale boost every so often to assure them of their worth to the business and congratulate them on a job well done. Incorporate this into your meeting by taking a moment to discuss what your team is doing well. A specialist from Klosterman Baking Company says the mood of a team meeting can be instantly brightened when those in attendance are provided refreshments. These don’t need to be anything too special—bagels or pastries for breakfast and sandwiches for afternoon meetings are enough to bolster a team and demonstrate gratitude for the work they do.

Be Prepared

Have you ever had people show up to a meeting and have no idea of why they’re there or what it’s about? Explaining the overall purpose and need for the meeting can waste time that can be better spent on other topics. Send an agenda out and any necessary supporting information (handouts, PowerPoint slides, etc.) at least one day prior to the meeting. This gives everyone a chance to review the material and come ready to jump right in.

Specify Action Items

At the end of the meeting, reiterate all of the “take aways”, or action items, and who is responsible for them. Don’t let people walk out of the meeting wondering about anything. Clearly establish the who, what, when, and where of the tasks that need to be addressed, the person handling it, the action item deadline for completion, and when the next meeting will be to provide a status update on those items.

Having a productive team meeting takes work. But these few rules will help to establish a baseline that can be built upon. Staff will be more productive if they know what to expect and what they need to deliver. Leading the meeting with an organized plan of action will motivate employees and can save the company thousands of dollars in lost man-hours. The better the team meeting, the more satisfied the employees (and your clients) will be.

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