The rise and development of information technology and the Internet have created a great environment for online businesses to thrive. The Internet has a great influence on our lives, it has developed so much, it has become one of the main mediums where we do our purchases, communicate with others. It's a virtual meeting place for the majority of our daily operations.
Along with its development, a change in the business environment happened. Businesses are now racing to offer a seamless service as possible and as convenient as it can be for the customers. One of the methods that allow brands to be more approachable to customers in the ways of how we deal with money transactions. Direct Carrier Billing, as a payment method, has a great potential to speed up the purchasing process and improve customer experience. And it's threatening to revolutionize e-commerce. Let's see how.
What is DCB?
But, before we dive in and explain how Direct Carrier Billing revolutionizes e-commerce, let’s see what DCB is.
Direct Carrier Billing or, shortly, DCB is an online purchasing method that allows customers to pay for the services by charging them on their mobile phone bills. Besides mobile phones, DCB works on almost any tech device, ranging from tablets to smart TVs.
Why will DCB revolutionize e-commerce?
Now when we’ve explained what DCB is, let’s see how it can revolutionize e-commerce.
It’s easy to use.
One of the main reasons why we think Direct Carrier Billing is going to revolutionize e-commerce is the fact it simplifies the payment process. Since DCB isn’t dependent on any banking infrastructure, customers don’t have to disclose all the details and leighty information they’re putting in when they use other payment options. This makes DCB an easy and convenient payment option, and it’s seen as a great tool that can help in customer acquisition.
Using DCB in online purchases means that customers just have to have their smart devices at hand to make a payment. They don’t need to sign up each time, fill in leighty and sensitive information. They don’t even have to have a credit card!
Since there are more people in the world owning a smartphone than credit cards, integrating DCB as a payment option for your business will allow those people to seamlessly make their purchase, but open up space for a greater customer pool.
It increases customers’ trust.
As we said before, DCB doesn’t require customers to put in their sensitive information to make a purchase, making it one of the safest payment methods. Besides that, given that DCB payments are secured with multiple levels of security and don’t pose a risk to the customer, users feel safe and comfortable while purchasing products. Because of all this, consumers have more trust in this type of payment, making it one of the most desirable forms of payment.
It’s able to increase conversions.
Since it’s generally easy to use, using DCB for your business has a great potential to decrease cart abandonment rates. Due to its simplicity, DCB works the best with businesses where customers are more likely to impulse buy products, such as the gaming and gambling industry, for instance.
It offers a possibility of tapping into undeveloped markets.
Surprisingly, there are more smartphone users than credit card owners in the world. And while this might pose a problem for other payment options, DCB allows brands to tap into undeveloped markets with poorly developed banking infrastructure, broadening their customer pool.
Wrapping it up.
With a fast change of technology comes the fast change in how we conduct our purchases. E-commerce businesses need to adapt to these changes fastly and be agile if they want to stay competitive. DCB is one of the trends that it's not new, but its potential is yet to be seen. And we cannot wait for it to happen!
A brand is a unique business concept that allows people to identify a product or company. In other words, it is the way people perceive a particular company or product. Your brand is also how you interact and communicate with customers in the market.
Companies have their unique branding style, but a basic one will include things such as a logo, color, web design, illustration, video, photography, and more. Businesses need to foster a good brand as it significantly contributes to their growth.
Foremost, a strong brand can give your company a competitive edge in the market. If your company wants to launch a new product, having strong brand recognition can make the launching process more manageable and less costly. Furthermore, excellent brand recognition can enhance your credibility with clients, directly connecting to their buying behavior.
Building a brand can be daunting, especially for a company with a deficit of various resources such as time, finances, and knowledge. Even so, building one can be one of the most straightforward processes if you consider the following practical steps.
Define Your Purpose
To begin building a unique brand for your business, you should first define your organization's purpose. Knowing what your company wants to achieve in the long run can jump-start your brand-building process adequately.
By identifying your overall goal, you can create a brand strategy that will guide you to achieve your goals. Your brand strategy is also an effective tool your company can use to communicate to your employees about actions to take.
Know Your Target Audience
Once you define your company's goals and brand strategy, you should identify your target audience and assess their needs. Next, you need to understand your current and potential customers to build a unique brand for your company.
There are several ways to know more about your market. One of the most effective techniques includes interacting with customers via social platforms or physically. For example, Vitalik Buterin, the co-founder of Ethereum, sought feedback from his colleagues on the Ethereum white paper to identify how to improve.
With such inspiration, you should also communicate with your customers to get their honest reviews and feedback about your products. In return, you will be able to work on your weaknesses, allowing you to build a strong brand by satisfying their needs.
Know Your Competitors
Before you make any critical decisions on promoting your brand, it is vital to assess your current and potential competitors within your industry. Learning more about your competitors is an excellent way to build a strong brand allowing you to gain a competitive edge in the market.
To effectively assess your competitors, you must first understand their strengths and weaknesses. Knowing what your competitor is weak at can unveil particular opportunities you can take advantage of to foster a great brand. Furthermore, assessing their capabilities allows you to identify where you can improve to reposition your brand.
Assess Your Current Brand State
Another step you must look into is defining and analyzing your current brand state. For example, do people in the market perceive your brand positively or negatively? If negative, what led to that, and what can you do to change such perspectives? And if positive, what is contributing to that, and are there ways to improve it?
If you want to reposition your brand, you need to approach this process from a realistic standpoint. First, you need to know where you currently lie; that is your brand's current situation.
It is only through this that you will learn how to proceed to the next step. Next, you should identify where to craft new strategies or tweak existing ones to align with the new branding goal. Luckily, there are plenty of ways to attain this.
For instance, you may issue a questionnaire to your employees, customers, and stakeholders addressing questions ranging from your brand's value to position in the market. Their feedback can enable you to know what to work on.
Choose a Look for Your Brand
Once you know what your customers want, how to outstand from your competitors, and understand your current brand situation, you can choose a new look for your brand. If not, you should focus your energy on finding ways to improve parts of it.
If you are starting a new business, you should start by choosing a unique business name. If you have an existing business, you can change its name to reflect your new identity. It is also advisable to develop a catchy slogan that comes in handy in your social media platform bios. You can also use the slogan as a website header which can help draw more attention to your website content.
Once you have a name and a slogan, you should look into visually representing your brand. This may be in terms of color, logo, and fonts.
Colors have a significant meaning, so you should be more careful when choosing them. The study of color psychology reveals that colors can affect the behavior and perception of something. Besides, specific colors evoke various emotions, which can positively or negatively impact your level of sales.
For instance, red can command attention to your brand leading to more sales. Yellow evokes positive emotions such as happiness and optimism, which can also mean affordability. And green signifies a connection to nature, attracting buyers who are more into preserving the environment.
Therefore, it is vital to choose your branding colors carefully as they are a great way to communicate with your buyers.
A logo is probably the first thing that will come to your mind when you think of repositioning your brand in the market. Ideally, you want your company's logo to be unique to help differentiate you from competitors. So, you need to get inspiration from famous brands with unique logos and create one.
Incorporate Your Brand into Your Business
The last step to building a unique brand is incorporating it across your business for cohesion purposes and setting the stage for interaction with customers in the market. If all business processes align with your branding strategy, it will be easier for your company to foster a unique brand.
The above are some of the most straightforward steps to help you build a unique brand for your company. Whether you are building a new one from scratch or trying to reposition an existing one, they are a guarantee to help you attain this.
Business management reporting software is a necessity for any crypto business that is to achieve optimal levels of efficiency in the current day and age. It gives you the platform to streamline your crypto business; ensuring data is collected, managed, and presented in an accurate and timely manner. Continue reading to discover everything you need to know.
A crypto business dashboard reduces workload and enhances efficiency by a considerable degree. It is a collaborative platform, offering full transparency, and you can incorporate other features like an FX calculator. All departments will have the ability to enter data into the system. They can then use the KPI dashboard to measure this data against their KPIs to get a full picture regarding business performance. This enables all departments to keep track of their financials with ease. Nevertheless, various departments will need to work together in certain instances as well.
Without such crypto software, a considerable amount of time would have been spent collating the necessary data and presenting it in the correct manner. However, this is something you no longer need to worry about once you have a dashboard implemented, as the data will easily be accessible. You can collect the data required in a matter of seconds and then you can choose from a variety of visualization options in terms of displaying the data.
Not only does this improve efficiency, but it reduces the margin for error as well. It also means that your employees are going to be free to focus on the core of your crypto business, i.e. what makes you money.
Dashboard Implementation Errors To Avoid
A cryptobusiness performance dashboard is an extremely powerful tool that will provide you with a quick insight into the performance of your crypto business. But, this will only be the case if you implement your dashboard correctly. Read on to discover some of the most common mistakes you need to avoid.
One of the biggest mistakes crypto business owners make is defining too many Key Performance Indicators (KPI) for their KPI dashboard. It can be easy to get carried away and end up defining a huge number of KPIs. However, this will only make your dashboard more difficult to understand, as you will need to extract data from an extensive number of sources. Ultimately, this will make development slower. If your list of KPIs is too long, whittle it down. For instance, if you have four KPIs for four different products, try to consolidate these into one indicator that features ‘Product’ as a dimension.
Another blunder a lot of crypto businesses make is implementing their business dashboard before they have fully contemplated their metrics – the structure and the behavior of them. You need to consider your KPI requirements before choosing reporting software; otherwise, you could end up with a solution that does not support your metrics. Last but not least, don’t make the error of failing to get all business stakeholders involved. You need full transparency and everyone working towards the same goal for your crypto dashboard to be truly effective.
Back in the day, remote work used to be considered a customer care job that attracted below minimum wage. However, the trend is changing thanks to advanced technology, and the Coronavirus pandemic remote work is now becoming a full-time career.
Technology now allows you to get the same job done regardless of your geographical location. With this, you need to figure out how you can adapt to the changing needs of business and technology. This means you must keep up with the need to work remotely. Therefore, it is essential to utilize various tools that make remote work more manageable and efficient. Have a look at these four tools that will enhance efficiency when your team works remotely:
Remote Communication Tools
The chances are that you have used Zoom or Google Meetings before. These tools are excellent for seamless remote communication. However, you should not assume that your team will adapt to any system effortlessly.
First, you should consider teaching your employees the best practices to use these tools to work efficiently. For instance, start by creating a guideline that facilitates communication to ensure that no one is left out. Accordingly, you should train your team how to mute their microphone when not speaking. Whatever you do, the first part is always to ensure smooth integration of the system. You do not want to integrate software that no one knows how to use. This makes remote work even more complex than it should.
Automation and Integration Tools
Automating workflow is always a game-changer, especially in a remote work setting. You will save time and money by automatic tasks using tools such as Zapier.
Automation and integration tools can do virtually everything. For instance, you can use these platforms to streamline production, send emails, generate worksheets, and automate slack messages. This is a great way to help your team make work more manageable. Accordingly, such tools help you keep up with the daily needs of the business. For instance, you can integrate them to monitor progress from different platforms. It is also a great way to ensure that every employee gets the work done according to schedule and time.
Remote Office Tools
With digitized office tools such as LastPass, you may never need to turn to Google Sheet for your passwords and logins. With these tools, all your two-factor authentications are safe and secure. They offer an extra layer of security to ensure that your team does not lose your company information to hackers and cybercriminals.
In short, these are password and login management tools that help you generate, keep, retrieve, and share passwords safely. You may want to turn to TheWindowsClub for all other virtual office tools.
Time Tracking Tools
You always need a time tracking tool, such as Time Doctor, to help your team manage and track progress. This tool allows you to monitor how every employee spends time. Accordingly, you can get reports on how work is progressing and what channels the team is using.
With the business environment reverting to remote work, your focus should be on how to increase business productivity using these top tools. Integrate them into your business and maximize output per unit.
Market research is a key aspect of starting any business. You need to know whether people are interested in your product and if there is a market for it. You also need to know whether other similar products are out there and what makes yours different. After doing this initial market research, you should hopefully have a product that performs well. But you shouldn’t stop there.
The best way to maintain long-term success is to predict future market trends and adapt to them. If you can work out what your customers will want in the next 5 years, you can be the first person to give it to them. Unfortunately, without a time travel device, it’s impossible to know for sure how the consumer’s wants and needs will change. However, you can make a very good estimate and this will drive the decisions about the future of your company. These are some of the best ways to predict long-term market trends in your industry.
Use Big Data
If your business is not already collecting and using data about your customers and your industry as a whole, you are at a huge disadvantage. Knowing which products and services perform well and what the buying habits of your target customers are like can be so valuable when trying to predict trends. Comparing your own data with wider data points about the industry as a whole helps you build a full picture. There are some excellent platforms like Live Earth that can help you do exactly that. By creating simple visualizations of data, you will get a much clearer idea of how markets are moving and what direction they are heading in. You can then use this information to drive your marketing campaigns and the overall direction of your company.
Listen To Influencers
Hopefully, you already know that influencers are excellent for creating successful marketing campaigns. But have you considered how they could help you predict long-term market trends? These are people that live and breathe your industry and many of them are brand ambassadors for your competitors. So, take note of what they are saying because, more often than not, their predictions are spot on. Look at their social media accounts and look in the comment sections too because the insights of their followers can be equally as valuable.
Read Industry Publications
Industry publications are also a great source of information. Again, the people writing for these publications are absorbed in your industry and they keep track of everything that is happening. Their job is to research the industry and write about its future, so you should subscribe to as many publications as possible and take the time to read them. They can also be a good marketing opportunity for you as well, so try to build relationships with them and see if you can get any extra information before your competitors do.
If you have your finger on the pulse and you can predict long-term market trends, your business decision making will be so much more effective.