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In the ecommerce world, having an attractive online store is the basic necessity for starting an online business. Choosing an ecommerce development company is one of the easiest ways to create an ecommerce store in less time and at an affordable cost. Picking a platform that not just builds your online store but also helps you in driving sales and profit is also essential to the success of your online business.

Thus making a wise choice for the ecommerce development platform is essential for the future of your online store. It becomes a tough call to pick the best ecommerce platform from the plethora of options available in the market. Complete analysis of vital aspects involved in ecommerce website development should be done at the initial stage. This analysis depends on the requirement of your ecommerce business completely.

Here is a list of tips you should consider before picking an ecommerce platform

Easy to use the platform- Not every ecommerce entrepreneur is a techie, so choosing an ecommerce development company which can provide you support for creating an online store without many technical skills is necessary. To achieve this, the platform should provide an easy dashboard for carrying out various tasks like product upload, order processing etc. Along with this, the platform should be flexible and scalable enough to fulfil all the business requirements and be able to grow along with your business in the long run.

Case studies of existing customers- It is always good to know about the experience of other clients who have built up their business with the ecommerce development company that you are about to finalize. Refer their case studies and analyze their success stories for better understanding. If you see several unhappy clients then you know better know that it won’t be a favorable choice.

A rich feature list- An online store is incomplete without a variety of features that can make the customer experience better. Ensure that the platform you choose allows features like easy search and navigation, product reviews, wish lists, multiple payment options, integration with a shipping partner etc.

Scope to explore the market- An ecommerce development company that gives you the scope to expand your business to various locations is always a better choice as it gives you the option to explore. Hence the platform should also provide various B2B features like multilingual for delivering services to users speaking in their native languages, multi-store for sub-store creation etc. Along with this, it is always necessary to have a strong presence on the internet so that the potential customers can know about you. For this purpose, the platform should provide SEO features for better visibility on Google and bring more traffic to the site.

If you come across an ecommerce development company that can meet your business needs and provide all the mentioned features in the checklist, then you can surely go for the same. A wise choice in selecting a suitable platform can help you in creating a success story for your online business.

Marketing automation has become a vital tool for businesses of every size. It can help you gain and sustain a competitive advantage. Speed up sales results. Plus, enable you to engage more contacts with personalized messages sent at the right time. So you can build good relationships.

Yet not each marketing automation system is the same. In fact, very few have all the essential tools in one package of services. If so, that can cause you to integrate system parts from third parties that can cost you time and money, especially when things go wrong down the road.

That is why it’s vital to first know what a full all-in-one marketing automation system is all about.

Marketing automation is a server-based software that integrates different technologies.

4 Automation Technologies Most Vital for Marketing Campaigns

First, it includes a CRM that allows you to collect, store and use information about your contacts. To be able to segment your contacts by custom fields and tags, behavior – such as opening emails and clicking on links, plus purchases.

Second, it includes an automated messaging system for emails, text, postcards and tasks. This allows you to send each message to contacts based on when they opted in, a date, behavior, purchase and more.

Third, it has eCommerce functionality. It integrates order pages with a form and payment gateway for one-click purchases. Plus it can allow you to integrate with a shopping cart if you prefer. Most of all, it can automate processes based on successful or failed transactions, subscriptions, trial periods, payment plans, coupons and more.

Fourth, it must have a campaign builder that enables you to take each contact on a personalized journey with measurable results. This allows you to create multiple campaigns for opt-in, sales, upsell, downsell and retention.

A marketing automation system such as one by Ontraport can provide additional features. These include marketing tracking to help you see which ads, landing pages and emails are generating the most cost-effective results. Affiliate marketing and membership site to help you boost the number of customers and sales. Landing page and form builder to enable you to design professional looking sites in minutes. And a lead router and scoring system to help you and your sales team follow up leads and convert them into customers.

Three key benefits of a marketing automation system are that you can customize it for your business. You can have multiple marketing campaigns at the same time that operate 24/7. Plus you can automate processes specific to contacts along their journey. But there are also marketing automation mistakes you can make along the way.

Marketing Automation Mistake #1: Sending eMails to Contacts Who Did NOT Opt-in
Marketing automation involves permission based emails. That means you send emails to contacts who give you permission to send them information. You can get permission when each contact opt-in to your system. However, importing a list or manually adding contacts to your marketing automation system is a violation of SPAM rules. If you do this you can compromise the delivery of emails even to those whom give you permission.

Marketing Automation Mistake #2: Not Maintaining a Database of Active Contacts
Even after you get a contact to opt-in, you must keep them active. That means, you must continually send them emails with relevant content to engage with at least once per week. Otherwise, they may forget you and not open the few emails you send. Over time, they can become less engaged, diminishing email delivery of your entire database. A re-engagement campaign is an effective method to get non-engaged contacts to interact with your emails again. You get these contacts to tell you if they’d like to remain on your list or opt-out. So you can maintain a consistent and clean contact database.

Marketing Automation Mistake #3: Focusing on the Wrong Metrics
Marketing automation allows you to measure the results of your campaigns. This includes opt-ins, sales conversion, email open and click link rates, landing page visits, sales, ROI and more.

However, focusing on the wrong metrics can cause you to misinterpret the true results. For example, you may have two campaigns where one has much higher open rates and lower click rates. Yet when you calculate click to open rates you can see an entirely different result. Before starting each campaign, it is vital to know the metric you seek to focus on to determine success.

Marketing Automation Mistake #4: Not Split Testing Campaigns
All campaigns differ by the type and number of contacts, content and more. Split testing campaigns is the key to finding what works right. But the key to split testing is to test just one variable at a time. Such as a headline, price, offer, design or target audience. The campaign that wins is the new control. Then you can test other campaigns against the control.

Marketing Automation Mistake #5: Not Having a Certified Consultant on Your Team
Marketing automation is both an art and a science. It requires a mix of technology know-how with direct response marketing expertise. Plus an objective mindset that is not biased toward the company or product. These are why it is best to have an independent consultant certified in the use of the marketing automation software on your team. To develop the strategy and build a custom automation system for your business. Plus, to train your team on using the system.

This startling figure comes from a recent review of the financial advice offered from the big four banks by the Australian Securities and Investment Commission (ASIC).

Even more startling: 10% of advice was found to leave investors in an even worse financial position.

Through a “vertically integrated business model”, Commonwealth Bank, National Australia Bank, Westpac, ANZ and AMP offer ‘in house’ financial advice, and collectively, control more than half of Australia’s financial planners.

It’s no surprise ASIC’s review found advisers at these banks favoured financial products that connected to their parent company, with 68% of client’s funds invested in ‘in house’ products as oppose to external products that may have been on the firms list.

Why the banks integrated financial advice model is flawed

It’s hard to believe the banks can keep a straight face and say they can abide by the duty for advisers to act absolutely in the best interests of a client.

Under the integrated financial advice model, there are layers of different fees including adviser fees, platform fees and investment management fees adding up to 2.5-3.5%

The typical breakdown of fees is usually as follows: an adviser charge of 0.8% to 1.1%, a platform fee of between 0.4% and 0.8%, and a managed fund fee of between 0.7% and 2.1%. These fees are not only opaque, but are sufficiently high to limit the ability of the client to quickly earn real rates of return.

Layers of fees placed into the business model used by the banks means there is not necessarily an incentive for the financial advice arm to make a profit, because the profits can be made in the upstream parts of the supply chain through the banks promoting their own products.

This business model, however, is flawed, and cannot survive in a world where people are demanding greater accountability for their investments, increased transparency in relation to fees and increased control over their investments.

It is noteworthy that the truly independent financial advisory firms in Australia that offer separately managed accounts have done everything in their power to avoid using managed funds and keep fee’s competitive.

The banks have refused to admit their integrated approach to advice is fatally flawed. When the Australian Financial Review approached the Financial Services Council (FSC), a peak body that represents the ‘for-profit’ wealth managers, for a defence if the layered fee arrangements, a spokesman said no generalisations could be made.

There are fundamental flaws in the advice model, and it will be interesting to see what the upcoming royal commission into banking will do to change some of the contentious issues surround integrated financial advice.

Many financial commentators are calling for a separation of financial advice attached to banks, with obvious bias and failure to meet the best interests of clients becoming more apparent.

Chris Brycki, CEO of Stockspot, says “investors should receive fair and unbiased financial advice from experts who will act in the best interests of their client. What Australians currently get is product pushing from salespeople who are paid by the banks.”

Brycki is calling for structural reform to fix the problems caused by the dominant market power of the banks to ensure that consumers are protected, advisers are better educated and incentives are aligned.

Throughout, history, we have experienced, a variety of economic conditions, and circumstances, including, recession, inflation, and somewhere, in – between! For a few years, we experienced, very – low inflation, largely, caused by a variety of conditions, world – wide, and largely, disrupted – by, the ramifications, and impacts, created and caused, by this horrific pandemic! Currently, we seem to be experiencing, a serious amount of inflation, created, by many factors, including, but, not, limited – to: post – pandemic ramifications; Supply and Demand issues, caused, to a large – degree, by, supply – chain, issues; maintaining, unrealistically – low, prolonged period of near – record – low, interest rates, etc. With, that in mind, this article will attempt to, briefly, examine, consider, review, and discuss, 6 potential dangers, from prolonged periods of inflation, and why, it is important to know, and understand, options and alternatives, to attempt to choose, the best – path – forward!

1. Cost of Living: Some factors, determining, the Cost of Living, include: wages (and wage growth); prices, etc, and how wages, are, or, aren’t able, to keep – up, with the increase in costs, etc! Most realize, we have, in the past – few months, experienced, a huge, jump, in pricing, most – apparent, in the food stores, restaurants, and, nearly, everything, related – to, day – to – day, existence, etc!

2. Federal Reserve: In recent times, the near – historic – low, extended period, of interest rates, has, in addition, to the intended measures (helping businesses, and the economy, in trying – times), has caused a Real Estate, Sellers Market, and, a huge rise, in home prices, in most parts of this country! In addition, it created a surge, in consumer use of credit, because, borrowing, appeared, cheaper! However, most economists forecast, many of these supports, and maintaining, such low rates, will, gradually, be reduced (or minimized), probably, beginning, next year. What impact will that have, and will we see, the historic reaction, which has been, when rates rise, it helps reduce inflation, etc?

3. National economy/ conditions: Largely, because of a world – wide, supply – chain, set of obstacles/ challenged, many industries, have experienced, challenges, in terms of, getting sufficient amounts of needed materials, etc! Go into, nearly, any store, and you will see, more – sparse, shelves, than we have seen, in recent memory! In addition, building supplies, products, food, toys, cars and car parts, etc, are under – stress, because of this!

4. Worldwide economies/ economic conditions: Nearly, every nation, is experiencing, economic issues and challenges! The United Kingdom, because of worldwide, as well as specific national trends/ causes/ conditions, has been largely, impacted! Since, we live, largely, in a global economy, when there is any disruption, in the supply – chain, it affects, everyone!

5. Stock and Bond Markets: Because of several reasons/ factors, the United States Stock Market, has benefited, significantly, and experienced, significant increases, in the price of stocks. In addition to the obvious ones, because, interest rates, have been, so low, many investors, believed, stocks, were, nearly, the only game – in – town! When, if, interest rates, rise, bond rates, will rise, and existing, bond prices, will adjust, and drop!

6. Immediate, intermediate, longer – term ramifications/ impacts: The immediate impact of inflation, is, usually, rising prices, and, wages, which, usually, rise, at a far – lower rate! In the intermediate – period, we begin to see, weakening economic trends, and in the longer – term, depending on how long, it ensues, there are often, several, undesirable ramifications, and impacts!

Don’t take inflation, and its risks, for – granted! The more you know, and understand, the better prepared, you will be!

Although, we hear, a lot of opinions, about, interest rates, and their trends, and impacts, very few people seem to understand, the significance, and importance/ relevance, of these rates, in several areas of our lives! After, many decades of involvement, in political campaigns, leadership, leadership training/ planning, real estate, financial sales and consulting, etc, I strongly believed, one benefits, by understanding, more about these, and how they affect, many things, in our lives! Whether, related to personal, organizational, and/ or, public finance/ spending, home ownership and related costs, credit – related issues, business matters, stock and bond pricing, etc, interest rates, truly, significantly, matter! With, that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, 5 of these areas, and how the cost – of – money, makes a significant difference.

1. Bond prices and interest rates: The price of a bond, generally, is inversely – related to interest rates! When these rates go down, prices, rise, and when they go up, the inverse occurs! Bonds have, what is known, as, a par – value, which is the price, paid, at the end of the term. Markets usually set these at 100, which represents $1,000 per bond, at maturity. However, during the period, the pricing can rise or fall, which impacts, liquidity – related issues!

2. Mortgage rates: For the last few years, we have been witnessing and experiencing, record – low, mortgage interest rates, which have helped the overall, real estate/ housing market, especially, in terms of, pricing increases! In most areas of this country, we are seeing, home prices, at their highest levels, ever, by a significant, dramatic amount! When this rate, is low, a home buyer is able to buy, more – house – for – his – bucks, because, his monthly payments, are so low! Consider, however, what might be the potential ramifications, and impacts, when these rates, will, inevitably, rise?

3. Consumer credit: Low costs of borrowing, help the automobile industry, in terms of consumer financing, etc! Although, not as much as other vehicles, rates on credit card debt, are lower, and there are often, shorter – term, promotions, offering deals! However, since, most of these are variable, and based, on some index, etc, what happens, when there is an increase, in this?

4. Business borrowing: Another area affected, is business cost of borrowing! Presently, they have had access, to relatively, cheap – money, which helps in reducing the costs of borrowing, overall operations, purchasing inventory, etc. But, what happens, when this, ticks – up?

5. Impacts on stock market prices: For some time, because bonds have paid so little, in terms of dividends, etc, many have considered, the stock market, the only game, in – town! In addition, many corporations, have seemed, better – off, than they probably are, and we have witnessed, a higher, ratio of prices to profits, than in the past! How long will this last? How high can it go?

Many factors impact these issues, especially: actual and/ or, perceived inflation; consumer confidence; politics/ government actions/ the Federal Reserve, etc. The more you know, and understand, hopefully, the better – prepared, you will be!