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The Advantages of Expanding Your Business into International Market

With so much focus on how the web has divided people over the past two decades, it’s hard to keep track of how it has benefited businesses around the world. Business is no longer local, it’s global, and individuals looking to stand among the best entrepreneurs need to scale to get ahead. For instance, a video production company can help you broaden the reach of your business. Could it help you to consider expanding your business into international markets? Possibly.

Extended Market Outreach

skyscrapersThe main benefit of expanding your business globally is pretty obvious: you can enter new markets and increase your reach. Did you know that 96% of your customers live elsewhere? Of course, you should, because that’s a huge expansion of your customer base. Growing overseas allows you to capture some of that 96% and increase your sales. There are about 170 million potential new customers in Europe alone, which will be one of the reasons why mega corporations are also setting up locations in global locations.

Diversification of Activities

As with financing, the more diversified your company’s operations are, the less risk you have to take. If a U.S. site fails, your successful overseas sites will protect you from declining profits, or vice versa. This protects you in the volatile market that drives business today. If you were based in Turkey today, you might be in trouble, but your China site can more than makeup for the losses of the current financial crisis in Turkey. But it’s not just about financial diversification. You can also diversify your products and services. If you do your market research, you might find a market for your jewelry that you just know isn’t popular in the United States. The more you can diversify your small business portfolio, the better, which illustrates why many businesses have gone global. International locations protect your business from losses.

Advantage in Competition

marketingAn international business allows your organization to grow, and the more you spread to the rest of the planet, the more customers you control, but it’s not just about getting the maximum number of customers. You also gain an advantage in your work processes, as you take advantage of innovations and technologies that are inaccessible in the United States. Imagine, for example, that you are a manufacturer – wouldn’t you benefit from the technology that Japan uses in its manufacturing processes? Given that Japan is a world leader in this area, you could argue (and win the argument) that you would.

In the United States, customers will be surprised by its global presence. They will observe a thriving business here and abroad and will be more inclined to request your product or service because a solid reputation fosters consumer confidence.

Investment Opportunities

To expand your business means you have to invest further. But in global market, these investments are great opportunities. When you do business internationally, you gain access to investors abroad who may also be interested in financing your company. Some countries are shareholders and offer incentives to attract U.S. companies to their area; just be careful not to violate U.S. tax laws. Consider each incentive carefully and discuss it with a CPA if necessary.

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Tips to Use Social Media for Customer Service

Social media is an essential marketing tool for modern businesses. However, to benefit from this strategy, you have to do it well; if you don’t manage your social media presence carefully, it can damage your brand and drive potential paying customers far away. With that in mind, here are some social media tips for your business customer service.

Build Genuine Relationships With Customers on Time

Many businesses see social media as just another channel for self-promotion and don’t necessarily respond when customers comment or engage with their posts. Use your Facebook and Twitter accounts to build genuine relationships by engaging in conversations. While not responding can harm your producer, you should also respond in a reasonable amount of time. According to a study by Convince & Convert, 42% of consumers expect a response to any social media review within 60 seconds, and nearly a third expect a response within half an hour.

Use Hashtags Strategically

hashtagUsing a specific hashtag helps customers look for their issues under that hashtag. You can also add more information and curated content to the hashtag. Wix, an internet development site, mentions three types of hashtags to use: Posts, Trending, and Brand Specific. Once it’s essential to follow hashtags and trending content, especially during the vacation season, it can be just as beneficial to create brand-specific hashtags for various campaigns. For example, Wix uses #WixPhotography to market their photo contests.

Focus on Building Customer Advocate Base

When a customer has a bad experience with a company, one of the first things they often do is write a negative review online. Instead of responding to negative reviews, your company’s strategy should be to provide such good customer service to create a base of good, loyal customers who can push for your brand if someone has something wrong to say. Hootsuite describes a customer advocacy base for a few reliable and trustworthy customers and employees who will speak up for your brand. This demographic often goes untapped because most companies overlook the ability of loyal brand advocates.

Be Responsive as Possible

meeting onlineWhen responding to a customer complaint, listen carefully. It is essential to listen to them and let them know you’re listening. Not paying enough attention contributes to an inadequate response, which reflects poorly on your manufacturer. After all, when your brand responds to a user, it’s not just your followers who see it. No response can be considered harmful. Whether it’s an angry opinion or a positive comment, people love to be discovered and acknowledged. A small reply that employs a thank you, a ‘like’ or an emoji can significantly impact an individual scale.

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Tips For Starting Your Own Business

Where do you begin when starting a business? The process of starting a business starts from conceptualization of the idea to implementation. This article is going to compile the various tips, or that will guide you when starting a business.

list the products and services

This will involve writing down a comprehensive list of the goods and services which you intend to offer. You should focus mainly on your area of interest

Listing down your areas of interests and hobbies

This will help you in narrowing down your ideas and plan accordingly

Doing some research to establish if these services are needed

You can do this by checking if tcustomer servicehere is a lot of completion. You can then decide to do something different or better if the competition is stiff. Try to find out if there are some problems which are affecting the customers which you can solve. For instance, you can decide to sell healthy foods such as vegetables instead of fries. Try to find out which kind of business will fit in your area. You should also research on the factors which are affecting the local businesses in that locality. For instance, try to find out if that area allows excessive traffic.

Research on the name of your business

This involves coming up with an appropriate business name. Make sure that the business name used is available. The business name should then be registered with the relevant authorities or with the state. There are some states which will allow you to do the registration process online at a low fee.

Taxes-get legal

This will apply when you are selling some products. Make sure that you have collected the sale taxes on the various products. In some states, you will be required to collect taxes only on the products purchased from those states. The taxes collected should be forwarded on an annual basis to the respective departments.

Buying a domain name

You can use your business name to purchase a domain name. Some of the companies which offer domain names include GoDaddy and 1and1.com. This is dome at the cost of about ten dollars for a year.

Creating a website

This can be done in two ways. You can find different templates both free and paid. You can also domaindecide to create your own website from scratch. A good website will help you in reaching more customers online from different parts of the globe.

Shopping cart

Decide on how you are going to sell your service or products. There are different types of shopping carts. One of the best shopping carts is the Mals-e. It is easy to use since it is intergraded with Paypal.com.