Welcome back to business basics! In case you’ve forgotten, every week we take a look at a basic business concept in order to try to help new business owners better understand it. This week, we are covering Return on Investment, or ROI – a fairly straightforward, but often misunderstood, part of running a business! Though you may think you know all about ROI, you could be using it incorrectly. But first…
What is ROI?
Return on Investment, or ROI, is pretty easy to grasp – heck, the definition is right in the name. It’s whatever return you get after your invest in some part of your business. So if you hire 2 new salespeople, a basic measurement of ROI will be the money they bring in, minus their wages. Continue reading
Infographics have been around forever. Yes, that’s an exaggeration, but it’s not that far off from the truth. If you really think about it, they’ve been around for tens of thousands of years. They’ve become modernized recently and are extremely popular. They work well for a number of reasons, primarily due to their accessible and visual-friendly incorporation of various graphs, charts and illustrated data.
In addition to still serving well as a useful way to present data, infographics remain an integral part of effective content marketing. Infographics have an indisputable tendency to go viral, which is a great way to effectively promote services, a business or a specific set of data. They also have a substantial leg-up on boring, text-heavy approaches trying to get the same points across.
And yet, there are a lot of people out there who hate infographics. Why? Because more often than not they’re been completely misused, and tend to be poorly designed. Don’t let this hate scare you off from making one, though. Here are some areas to keep in mind when it comes to creating great infographics that work in your favor.
As the owner of a small business, you know what it’s like to have a lot on your plate. Some days, it may feel as if you need a small army in place just to keep up with the way you need to market and brand yourself – not to mention making a profit and paying attention to your customers! Well, I’ve got a secret to share with you: you don’t need an army. All you need is a thirst for knowledge. The trick is to stay on top of trends and when things move, move with them!
Working in the marketing industry, I’ve come to understand that it is never about one thing or the other, it is about how all of the pieces of the puzzle come together to form the big picture. Ten years ago, your business might have gotten by with some television commercials and perhaps an advertisement or two in your local newspaper, but times have changed – how can you compete and stay on top today?