The article has been published in collaboration with the Treebo Team
Are you looking for hotels that suit your business travel plan? In this article, we are going to tell you the best features if you are going for business. When traveling for work, it’s essential to be comfortable and have all the facilities you need.
However, there are a lot of facilities available to you in different kinds of hotels, which can be exhausting to search around them, and if you don’t narrow the amenities down it will charge you a hefty amount just for a night.
Searching for hotels like hotels near me, you can some great options where you wonât have to suffer with any such problems. However, you need to know what you should look for while finding a hotel for your business travel. Here are five features that business travelers need in their hotel rooms.
An Example- Hotels highlighting the feature of Wi-Fi through their online booking options.
With most hotels providing free WiFi to their guests, it’s easy to stay connected while on the road. The last thing you want is to be disconnected while on an important business call or checking your email.
Comfortable Beds
After a long day of meetings or sightseeing, having a comfortable bed is essential to relaxing after a long day. Business travelers should look for hotels that have high-quality mattresses and bed linens to ensure a comfortable night’s sleep.
Desk and Workspace
An Example- The hotel Mama Shelter Prague, Czech Republic has a different setting for workspace as shared in the pic
After the introduction of the pandemic, working remotely is essential for many business people when traveling, so having a dedicated desk space is essential. Look for a hotel with a desk and chair that is large enough to comfortably fit your laptop and other work equipment.
Quiet Surroundings
When you’re traveling for business the last thing you want to do is spend all your time in your room working. Look for a hotel that offers a quiet environment so you can get some rest at the end of the day without feeling like you’re holed up in your room. As per the study conducted and published by fair-point.com, 58% of business travelers search for quiet and comfy surroundings in their hotel.
A Gym or Pool
The graph shows the need of a gym by business traveler asper the study done by the source.
Many business travelers don’t travel for fun so they use their time away from their office to exercise. Look for a hotel that has a gym or pool so that you can stay active while you’re away.
Having these key features in your hotel accommodation can make your business trip much more enjoyable and provide you with everything that you need to relax and enjoy your stay.
The features of a newly built property are highly sought after by travelers who wish to book a stay at one of the newest and most luxurious properties in their destination of choice.
These features can include a fitness center with all the latest machines and free weights, an on-site restaurant serving delicious gourmet food, a sleek and spacious lobby, and even an on-site spa where you can treat yourself to a relaxing massage after a long flight or exhausting day spent sightseeing.
Despite the appeal of these properties, many people are still hesitant to book a stay at one of these new properties for fear that they may be less comfortable than a “traditional” hotel.
However, this is not true at all! While traditional hotels may have gotten comfortable with offering little more than a bed in the room and a toilet down the hall, the newly built properties are taking it to the next level by providing their guests with the complete package – quite literally.
When staying at a property that has just been built, you can rest assured that you will be sleeping in luxury and enjoying all the conveniences of modern life right at your fingertips. Furthermore, these features are state-of-the-art, meaning that they will be extremely reliable and efficient throughout your entire stay.
It also offers great discounts, and it provides all the facilities that are promised for a certain hotel. You can even filter down the amenities that you want so that you can get the best deal. To find such great deals, visit Treeboâs website and search for the hotels in the city you want to stay in.
Conclusion
At last, we would like to suggest choosing only those amenities which are needed for you. Choosing unnecessary amenities can chase you a hefty amount. However, if you want to experience a new thing then you should go for it. We hope you have a good stay and we hope this article might have helped you.
FAQs
What are 4 ways to attract customers?
The most common yet appreciable ways to attract customers are opening a travel blog, offering promotions and discounts, advertising about the highlights, and providing excellent customer service.
What do leisure travelers want in hotels?
Leisure travelers mainly look for a comfortable bed and a clean environment, Apart from that they might also be interested in having sports and gaming facilities in the hotel with a good staff that can eventually increase their overall satisfaction rate.
What are the important features of a good hotel?
The important feature of a good hotel is a long list that fully covers the visit of a customer to the hotel. It starts from a simple and hassle-free booking to the checkout of the customer with no bad impression due to hotel staff. It involves features like knowledgeable staff, excellent food and beverages, good customer support, excellent on-site service, and many other similar things.
What do travelers look for in a hotel?
Some of the points that a traveler looks for in a hotel are a good location, free wifi, 24-hour assistance, onsite dining options, business-related facilities, multiple areas, etc.
Every aspiring entrepreneur starts with a great idea, which can solve a burning problem. But many founders begin with launching a product without considering target marketing strategies. The target market represents a group of individuals who have similar needs, perceptions, and interests. If a significant number of users are not ready to pay for the problem they want to solve, this leads to a loss of money. Eventually, founders run out of resources and finally end up failing. So, here are some tips on target market selection.
Target market selection is a part of marketing activities and comprises deep inquiry and analysis up to the corporate level. Target market analysis involves a process to recast and build something innovative to differentiate your business from others.
An entrepreneur must ask himself, â Istarget market segmentation big enough to meet my sales goals yet not so massive I can’t target it?â Research has shown that 42% of startups fail because they didn’t find the right target market for their startup.
So, finding your target market is one of the most important decisions that a business should take before actually starting its business.
I think the mistake a lot of people make is to identify a target audience and then work backwards into creating a product for them. – Ricky Van Veen
To find the target market you need to break it up into addressable market segments, this can help you to achieve your startup targets. The following ideas have helped entrepreneurs to find a target market for their startups.
A target market in general is people or a group of people who have the potential to buy your product or need your product. It is that segment of the market to which a business wants to sell its products. If a business knows what its target market is, it becomes easy for them to market its product.
With the help of this information, the marketing team can create campaigns that are only focused on that segment of the market. Moreover, it helps the production team to better their product according to their target market’s needs.
Types of Target Market
Some of the most common types of the target market that a business focuses on are:
Major Factors to Consider for Market Type
Gender-Based – Example: A cosmetic company would want to target females in their campaigns rather than include men and children.
Age-Based –Example: A toy company will focus to impress the kids with the products instead of impressing adults.
Location-Based – Example: A new local Pizza shop will advertise it in its town or city instead of promoting it all over the country.
Income-Based – Example: A luxury car brand always tries to promote its brand among people with high income whereas an economy car brand will come up with campaigns and offers focused on lower or middle-class people.
So following are target marketing strategies to grow your customer base.
1. Focus on the “Crucial Customers”
Put your efforts into focusing on the most crucial customers that have the highest probability of purchasing. Before launching a product you need to analyze your target market, if you are an entrepreneur who wants to build a business that will not only solve a problem but also be profitable then you will go a long way, you have to interact with your target market.
After choosing a target audience, talk to them, listen to them, and then observe those people to know if they are your potential customers. You are going to solve a problem that they are desperately looking for but you have to observe if they are willing to pay for the solution or not. Only after observing the target market, you should start working on solutions to their problems.
You, as a new company, cannot build trust in people if you provide them with revolutionary solutions. So, come up with a solution that is not too extraordinary for people. However, at the same time, you should be able to translate it into a profitable business.
“You just have to pay attention to what people need and what has not been done.”–Russell Simmons, founder of Def Jam
Before you start your business you have to ask some questions to yourself. These are:
“Whether the business can be scaled or not?”
“What is the size of your target market?”
“How many people can you possibly sell your product or How many people will probably buy your product?” And last but not the least
“At what price you should sell the product?”.
2. Find a segment for the early momentum of business
Focusing on a segment helps in building the early momentum of the business more easily. This involves awareness and word-of-mouth marketing that usually builds faster across like-minded groups, and success stories resonate well across a segment of similar prospects. This also requires complex and wide research on all aspects of the startups.
Market Segmentation
Some of the great ways where you can start your research
Public Forums/Facebook Groups
There are many online platforms are available now where people ask questions, share their problems, and share their ideas too. You can find insight into both your target market and also your competitors which can help to find a solution that people are looking for.
You can join some Facebook Groups where people from your target market are actively involved, observe them for a while, listen to their conversation, understand their pain points, and ask questions. This will help you to understand the problem they are facing and also look for a solution.
Networking/ Events
You can start building your network with the people from your target market and the people who are solving any burning problem for their target customers. This will help you not only to understand how you can find your target market but also you can learn a lot of things that will help you on your startup journey.
You can also attend some live events, especially for startups, where you can meet with new people and also people from your target market. You can directly ask them questions if they are facing any problem or anything they want to make their life better.
Talking to friends & family
This is not necessary that you have to find your target market from outside, there can be some problems your friends and family are facing which you can give them a solution for. There are many startups that started by solving a problem they faced by themselves.
This will help you not only build a profitable business but also you can build trust immediately and it may help you to come up with an idea that is unique and can differentiate your business from others.
3. Take a hard look at the value differentiation
Always take a hard look at the value differentiation that can bring prospects for you. In other words, try to initiate the feature that makes the business different and makes it stand out. Many aspiring entrepreneurs get it wrong, they think that an idea is already working, and if the business is doing well then it can bring a large number of customers for them also and they simply copy the business idea and try to modify the business model. It will be profitable for a short period but you will not be able to build a business in the long run.
If you want to be an entrepreneur and build an empire, then you have to use your creativity and come up with a solution that will differentiate your startup from the other companies and can bring you a large number of prospects.
4. Identify the Demographics
Itâs very important to ask yourself whom should you market to and how you most efficiently reach them. This will include identifying the age, gender, geographic location, occupation, socioeconomic status, and other demographic and psychographic traits of the consumers who would be most interested in purchasing your product or service. The key is to identify a niche target market and go after market share aggressively.
5. Identify prospects that care about the key differentiation the most
When looking across the broader market, some prospects will say, “Yeah, the stuff is cool!!”, but others will jump out of their chair and yell “that’s amazing!! I need that right now.â In this case, always target the second group as they will be the easiest to sell to.
You are building a business not just to solve a problem but to make a profit too. So you have to identify whether the people are ready to pay for the solution or not. Many startups end up wasting their money on marketing and strategies without identifying the target audience first. So if you want to scale your business you have to find the right target customer who will care about your solution.
Now you may have this question in mind:
How do I recognize people that have a high affinity for my offering?
The target group that has a high affinity to the products being offered could be a certain company, in a certain vertical market, in a certain geography or they might be consumers that already own a particular product and also have some hobbies which are somehow related to your business.
This is where entrepreneurs need to get super specific about targeting these groups. Start asking questions like
“What is the smallest business that loves this stuff?”
“Do product businesses love it more than services businesses?”
“Which location (urban or rural) do they love most?”
“Is there a certain type of small business owner that loves it more? Why?”
The segmentation will depend on the entrepreneurâs ability to be able to identify the characteristics of an ideal, easy-to-close prospect. If you can find the right people that have a high affinity in your niche then definitely you will be able to close the sale.
These points would certainly help in bringing profit to the company and increasing your customer base. What strategies are you following to define your target market?
FAQs
What are the 5 steps in starting a target market business?
It helps you to determine and focus on a particular audience or type of product and service. It also helps with less spending on customer acquisitions.
What is the definition of target selection strategy?
It is a strategy applied by companies and startups to start their businesses with products or services for identified markets.
What is a target market example?
For example, a toy company for children, a make-up company for women, and any company that makes winter apparel.
How is the Purpose of a Target Market important for any business?
When companies identify a target market, then they can influence product or service design. Market strategy can also be enhanced.
Todayâs world is all about showing your best social skills and communication skills for marketing yourself. The budding entrepreneurs constantly need to sell themselves and market their business ideas. To bucket up the investors for the business, one needs to attend social gatherings and socialize with people to get them involved in their venture plan. However, in the workplace, these skills can be an essential aspect of staff interaction, planning, and collaboration. In this article, we discuss what social skills are, how to apply them in the workplace and why developing social skills is so important.
However, itâs very important to impress the person with your witty remarks and steal the show with your knowledge. Many people are not comfortable with the words and not everyone can express their thoughts clearly which forfeits the chance of great investment opportunities from our hands. It is necessary to improve communication and social skills. So in this article, we will talk about ways to improve your social skills and effectively communicate in your workplace.
Social skills, also known as interpersonal or soft skills, are used to communicate with others. There are several types of communication skills we use daily including: verbal, nonverbal, written, and visual. Verbal skills involve the spoken language, while nonverbal communication skills include body language, facial expressions, and eye contact. Strong social skills can help you build and maintain successful relationships both professionally and personally and also help you in being a good public speaker.
Methods of Improving Social Skills
To be a better communicator, one has to improve their social skills, improving social skills will help you in every aspect of life. Some of the methods to improve Social Skills in life are:
Instead of shying away, try to start a conversation with a stranger, your acquaintances and family. Ask an open-ended question that keeps the communication going, the need to engage is extremely important here.
Try to broaden your answer, when answering someone’s question. This led to deeper communication and you can practice your conversation skills.
Observe the social skills of the people around you, especially your colleagues. You can learn a lot of things from your surroundings. Observing their way of non-verbal and verbal communication will help you in improving yours.
Main eye contact while conversing with the opposite person.
Just talking is not enough, you need to develop your listening skills as well.
Take the help of books, podcasts and YouTube videos to improve your social skills.
There isnât any rocket science behind alluring the people, it is easy to behave in social gatherings. There are some basic rules which you need to regimen before entering any social event. So, draw your attention here.
Make a Killer First Impression
When we meet someone for the first time, the very first thought that pops into our mind are to make a long-lasting impression that they stay lifelong with us. The points that will help you to make an ebonics first impression for the audience are â
Smile often, will exude positivity. Smiling makes you appear more friendly and gregarious and, others will feel more comfortable in your presence. Donât smile like a fool, just a little, to look friendly and easily approachable. Smile as you mean it.
Make eye contact with the other person while talking and that will define your confidence in the other person. Eye contact displays confidence and is one of the quickest ways to make people gravitate toward you. There is a simple trick to show your strength and social skills that will improve your confidence in the other person. So make eye contact with the person while talking to them with your striving confidence.
Your body language should be open to the public. Rigid body language is the definition of nervousness and lack of confidence. The body language should be relaxed and no need to be prim and proper. Positive body language includes good posture, leaning in slightly when someone is speaking (displays interest), and smiling/eye contact. This will helps in improving communication and social skills.
Be a Good and Patient Listener
You need to develop good listening qualities in lieu to get the attention of others in a social meet-up. Take time to understand the other person’s view and, only after understanding it reciprocate your answer. Some people confuse listening with hearing. They both are different things you need to understand, what is being communicated to show your interest by:
Giving them your full interest and showing that youâre understanding their words.
Take time to ask questions on the topic of the discussion.
Make valuable remarks on the topic and share your valuable opinion with the person.
Give Compliments
Giving compliments to the person while making the introduction will give you the right start. Give genuine compliments where applicable and be honest about them. If you notice something nice about a person donât be afraid to let them know. Phrases such as âThat is a nice shirt by the way. Where did you get it?â or âYou have a very admiring personality makes you much more amiable and breeds pleasant social interactions.
So, these are a few simple tricks to make social gatherings your show. But after reading this topic and observing the experiences you will get to know that confidence is the key element here. This will helps in improving communication and social skills. If you have the right amount of confidence in yourself, then no one can stop you from becoming successful. So, try to embed confidence in your body language and you will see the changes yourself.
Effective Communication
What Are Communication Skills?
Communication skills are the activities that make your performance ultimately a good one. Communication skills are very important in every human being’s life it is used in both, as in your personal life and your professional life.
It is also the abilities of when you give and receive different kinds of information from different sources. When you communicate ideas, feelings, or even any update regarding your work or project. Communication skills involve listening, speaking, observing, and empathizing. Having good communication skills helps to develop your personality and one can also be given the top priorities as a leader. Communication is so important that entire careers and fields are based almost entirely upon communicating, like these 13 communication careers listed here.
Whether it’s written or spoken, reading, or listening, these skills are crucial in any workplace and can make you a better, more effective, and more efficient employee,
Ways to Communicate Effectively in the Workplace
When the employees have good communication skills, superiors can better understand the potential, willingness, talents, and skills of their employees. Some of the ways to communicate effectively are:
Encourage open discussion: In this, a manager acknowledges his\her employee’s, views which is important. They ask their employees for valuable inputs. Encourage managers to clearly show that they have heard employees’ opinions and engage the employees on a personal level. The managers recognize their employees and acknowledged the employee’s inputs.
More face-to-face or phone conversations: A face-to-face conversation will last longer as more people talk together, which makes them stronger and better relationships with employees, managers and the boss. As, in a face-to-face conversation one can perceive each other feelings, facial expressions, and body language. Having, eye contact will also help to get an understanding of the communication and good internal networking might help you in the future.
Be careful when wording emails: When you are writing the mail to your manager or your boss, don’t write like the reader is your best friend. Don’t assume the reader knows who you are and why you are emailing. Don’t use informal language. Don’t forget to proofread for spelling and grammar mistakes. Write in a way that will boost them to open your mail.
Be aware of body language: Your body language can influence the way others respond to you. It can also impact how they perceive you and your intentions. Being highly aware of your body language can influence your productivity and reputation in your workplace.
Make meetings meaningful: While making the meetings one should have a clear agenda, so that everyone in the workplace has a clear idea about when and which meetings have to be scheduled at which time.
Conclusion
Effective communication is integral in your life. Without communication nothing is possible. One can eliminate unnecessary, unwanted problems and can promote better performance with the help of communication. The ability to communicate depends on your social skills, so before communication improving your social skills is extremely important as well.
FAQs
What are 5 essential communication skills?
The top 5 essential communication skills are:
Written Communication
Verbal Communication
Non-Verbal Communication
Active Listening
Contextual Communication
What are the 5 social skills?
The 7 social skills are:
Sharing
Listening
Maintaining Eye Contact
Using Manners
Cooperating
How to start a conversation with someone you don’t know?
To start a conversation with a stranger, you need to:
Automation is the term that seems to fit in almost every work situation these days. In this fast pacing time, it is important for people and businesses to automate as much of their work as possible. This not only saves time and energy but also makes the processes more efficient.
When it comes to customer service, some businesses view it as a necessary evil, while others see it as an opportunity to stand out from the competition. Whether you fall into the former or latter category, there’s no denying that automating your customer service can save your business time and money.
For example- Chatbots are a great way to automate customer service as it provides the customers with instant responses 24/7. In the case of the airline industry, customers can look for all the flight information, find the best option, and book a ticket with the help of chatbots. In this way, customers get to have all the necessary details in an easy conversation.
There are a number of ways to automate your customer service. One of the most popular is to use a chatbot. Chatbots are computer programs that can mimic human conversation. They can be used to answer common questions and help direct customers to the right resources. One can also automate customer service using an interactive voice response system. This allows customers to get the information they need without having to speak to a live agent.
The following are the seven ways to automate your customer service process:
How do customers perceive chatbots?
Automate Customer Service Processes with a Chatbot
A chatbot can help you automate customer service by providing answers to common questions, routing customers to the right support agent, and even handling simple tasks like scheduling appointments or placing orders. You can create a chatbot using a chatbot platform like Chatfuel or Botpress, or you can use a chatbot builder like Manychat to create a chatbot without any coding.
Use an AI-Powered Live Chat Tool
An AI-powered live chat tool can help you automate customer service by providing instant answers to common questions, routing customers to the right support agent, and even handling simple tasks like scheduling appointments or placing orders. Live chat tools that use AI include Zendesk, Drift, Intercom, etc.
Take Advantage of Automation Tools
One can always take advantage of automation tools. For example- Zapier is an automation tool that lets you connect different apps and automate tasks between them. You could use this tool to automatically add new contacts from your CRM to your live chat tool or to send a follow-up email after a customer support conversation automatically.
An e-commerce CRM can help you automate customer service by providing a central place to manage all your customers’ data, contact information, and support conversations. Plus, e-commerce CRM tools can automate tasks like shipping and order tracking, making it easy to keep your customers updated on the status of their orders.
A help desk ticketing system can help you automate customer service by organizing and tracking all your customer support conversations in one place. A help desk ticketing system can also automate tasks like assigning tickets to the right support agent and sending notifications when a ticket is updated. Popular help desk ticketing systems include Zendesk, Freshdesk, Zohodesk, and Help Scout.
Use Social Media Automation Tools
Social media automation tools can help you automate customer service by posting updates, responding to comments and messages, and even monitoring for keywords and hashtags. Automated customer service on social media can help you stay connected with your customers and resolve issues quickly.
Customer service reporting can be time-consuming, but tracking metrics like customer satisfaction and first-contact resolution are important. Automating your customer service reporting can help you save time by always generating reports on a schedule to have the latest data. Reporting tools that can automate customer service reporting include Zendesk Insights and Helpshift Analytics.
Pros of Automating Customer Service Process
73% of customers consider good Customer service Experience is the key factor in Brand Loyalty
The customer service process is extremely important and automating it can be really effective for a whole lot of businesses. The following points show the pros of it:
One of the pros of automating your customer service process is that it helps to improve efficiency and productivity within your organization.
By automating certain tasks, you can free up your staff to focus on important tasks that require more attention.
Another advantage is that it can help improve the quality of your customer service by ensuring that tasks are completed correctly and in a timely manner.
It can also help to reduce the overall cost of your customer service operation by eliminating the need for manual labor.
Finally, automating your customer service process can help improve your customers’ overall satisfaction by providing them with a more efficient and effective customer service experience.
Automated customer service definitely ups the game for many businesses, but it might just not be the perfect thing for others. The following are some of the disadvantages of automating your customer service process:
One of the potential drawbacks of automating your customer service process is that it can lead to a more impersonal experience for your customers. Automation might not be the right solution if your goal is to create a more personal relationship with your customers.
Another potential drawback is that automated systems can sometimes be less reliable than human customer service representatives. If your system goes down, or if there are technical issues, your customers will not be able to get the help they need.
Automated systems can also be more expensive to set up and maintain than traditional customer service solutions. If you are on a tight budget, then automation might not be the right choice for you.
Finally, automated systems can sometimes give customers the impression that they are talking to a machine rather than a real person. This can lead to frustration and even cause some customers to take their business elsewhere.
If you consider automating your customer service process, carefully weigh the pros and cons. Automation can offer many benefits, but it is not right for every business. Make sure to consider all of the potential drawbacks before making a decision.
Conclusion
Automating your customer service can provide a better experience for your customers while freeing up your team to work on more important tasks. However, in some cases, automation might just not be the right thing for some businesses. The above-mentioned are some of the most important points that will guide you to automate your customer service process.
FAQs
Can customer services be automated?
Yes, it can be automated. More businesses are now keener to automate customer services as it improves customer experience and employee satisfaction.
What are automated reporting tools used for?
Automated reporting tools are used by professionals to make and share organizational reports at particular intervals without updating the information each time.
Which are the top software to automate customer service?
The Best tools to automate customer service are:
Zendesk
Freshdesk
HelpScout
Agile CRM
Groove
Zoho Desk
What is a help desk ticketing system?
A help desk ticketing system is software used by customer support teams. It is used to create, maintain, and manage lists of customers’ problems.
What are examples of automated customer service system?
Some examples of automated customer service system are:
Self-service portals
Standardized email replies
Live chat and Chatbots
Virtual Assistant
Ticketing tool to assign tickets to the relevant team
Why are affiliates so popular? Why do so many companies, including big names like HubSpot, SemRush, and Shopify have a dedicated affiliate program? The SaaS market is growing, and the need to find the right audience is rising more than ever before.
Word of mouth or partnership is the most effective way to promote your brand and boost your business growth.
SaaS affiliate programs save marketing costs for these companies and expose them to a large audience. Big brands understand its importance and leverage it effectively. So, today we will give you a detailed overview of SaaS affiliate marketing and how you can use it to boost your revenue.
SaaS affiliate marketing is a partnership agreement between two companies or parties where one promotes the product of another via referral in exchange for a commission.
Say you have a SaaS marketing tool that helps in tracking metrics. You ask a podcaster to talk about your product. This podcaster has an audience of 30000+ b2b professionals. In return, you give him a commission or small fee for every trial sign-up or a portion of earned revenue through their referral. Commission structures can vary depending on the product and market.
Now, there are dedicated affiliate networks as well that promote your product through their vast networks. However, the commission charges are higher than individual affiliate partners.
Benefits of SaaS Affiliate Marketing
End-User Spending on Public Cloud Application Services/ SaaS Globally (2015-2023)
B2B businesses increase conversion rate by 3.63% with the help of affiliate marketing. But what is so special about affiliate marketing that big brands also rely on it? Let us see why companies opt for affiliate marketing.
Affiliate marketing brings in targeted audiences which leads to better conversions. Since you choose the affiliates that promote your brand, you could research their audience beforehand. This way you get warm leads via referrals with better conversion rates.
Affiliate marketing brings in a loyal audience to a blog, podcast, or niche expert. They face the core pain points and eventually become brand loyalists. You need to ensure customer satisfaction to retain them.
Affiliate marketing is cost-effective as you spend a margin of what you earn (depending upon commission structure). Nonetheless, you only pay for the value generated, which also helps to drive growth. It reduces the customer acquisition cost (CAC) significantly.
Affiliate marketing is a personalized form of approaching your audience. Since the affiliates are in touch with the audience, they understand them better. As a result, the brand message passes in a very personalized form to a highly targeted audience.
Affiliate marketing is a low-risk and high-ROI marketing channel for businesses. It not only brings in leads for your business but helps in brand recognition and brand exposure. The only risk can arise when the affiliates aren’t vetted.
Affiliate marketing is scalable to a large extent. You only need to add more affiliates to the network that would amplify the brand. Also, it leverages content marketing which is an evergreen source of marketing and growth.
Now that we know how your brand could make fortunes with affiliate marketing, let us see how you put this into action. How do you start with an affiliate and what steps do you need to take?
How Do I Promote My SaaS Product Through Affiliate Marketing?
Top Traffic Sources for Affiliate Marketers
Affiliate marketing could take some time to set up and generate some results. Big brands generally get affiliates who promote their product for a commission. But if you are a startup, you need to find partnerships and affiliates to do this for your business.
Step 1: Define Commission Structure
Choosing the right commission structure that incentives the affiliates and also don’t burn a hole is crucial. There are four scenarios or commission structures. You could modify or club these together, whichever seems sustainable.
The first is a one-time commission. In this case, you pay the affiliate a small fee for every signup or visitor to your site. Let’s say, a person landed on the landing page via an affiliate link. You would pay a cut to the affiliate partners.
However, SaaS is tricky. You as business owners earn on subscriptions and hence a small percentage of the average deal size as the commission doesn’t seem fair. For example, if you get a paid user who pays $300 for your product, and you pay $30 to an affiliate. However, this $300 is paid every year. If the average LTV of the user is 10 years, you earn $3000. Out of this, the affiliate only gets $30. This seems pretty unfair. So, there are other options as well.
The second is the recurring commission. In this case, you pay the affiliates whenever the user pays for a limited time. So, if you run a SaaS product with a $50/ month subscription. You might give affiliates $5/ month for two years for 10 years of LTV. Or you could pay 5% till the customer stays with your business.
The third is the tiered commission. Under this, you give commission on some set tier levels. So, let’s say you set tiers like this:
50 users- 5% of each sale
100 users- 7% of each sale
500 users- 10% of each sale
1000 users- a base fee + 13% of each sale
This way you reward the affiliates that bring more users. This incentivizes them to get more people to use your product and earn larger commissions.
The fourth is a non-revenue-based commission. Under this system, instead of cash, you offer the affiliates a non-monetary value. For instance, an affiliate can access the productâs premium features for free.
Choose a commission structure that you can pay for in the long run and scale if required.
Step 2: Look For Affiliate Partners
The next step is looking for affiliate partners or businesses that would promote your brand. These could be bloggers, influencers, podcasters, niche experts with social media presence, Affiliate networks, etc.
Based on your requirements and paying capacity choose an option. Start by looking at the audience of the desired affiliate. If it matches your target audience persona, then start by looking into their work. Analyze if their working style and product match. Having clear communication with the affiliate is crucial. If there is miscommunication about the brand or a lack of product knowledge, it would not work well.
For instance, you want a blogger who talks about marketing. You will find the best personal blog that talks about marketing. However, you target B2B companies and their main focus is B2C finance heads. See, how the audience doesn’t align. Hence, vetting the affiliates to align business goals should be the primary focus.
So, look at the number of followers and the kind of content the affiliates create. Also, does the platform that affiliates use have your audience? Check these three basic things: followers, platform, and content while picking affiliate partners.
Step 3: Create Marketing Assets
After choosing the partner and a competitive commission structure, you need to help them with promotions. No, affiliate marketing is not one done game where you get people to promote, and it’s over. You partner with them to promote your products.
Start by creating dedicated marketing assets, brand kits, and resources for the affiliate. Ensure that they understand the product and communicate the product value well. Additionally, you could help them with banners, images, or other ways.
Affiliate marketing is a partnership, where both parties support each other. You don’t hire affiliates to promote you. Instead, you work with them to grow together.
Step 4: Track Performance
Now, this is crucial, tracking the performance and results. For this, you need definite KPIs. Analyze your main goal. Getting more traffic? Or getting more paid customers? Or getting people to contact you for a demo?
Based on these, see how the affiliates performed. You will need affiliate tracking software installed on your site. Also, you could track back using the affiliate link used by affiliate partners. Either way, this software eases the tracking process, and you can pay the commission accordingly.
Step 5: Reward
Let’s say you have a recurring or one-time commission structure. Now, out of 35 affiliate partners, 10 of them bring 80% affiliate traffic. Shouldn’t they be paid more to strengthen the relationship?
It is crucial to reward the top-performing affiliates to ensure good brand relations and sustainable relationships. You could do so by giving bonuses, like access to premium features of your product. Alternatively, you could give them higher commission rates or add an extra base commission.
All these techniques incentivize them to stay loyal to the product and keep referring to it. If the affiliates do not see the programâs benefit, they can decline the promotions. This means losing a big potential market and over 30% of revenue. Â
So, This way you can start your affiliate program. You might need to reach out to potential affiliates initially, but it will generate a lot of profit later.
You could get into various pitfalls when opting for SaaS affiliate marketing, such as paying more than earning, choosing the wrong affiliates, ending up with a poor or wrong brand image, and much more. Here are the top 5 tips to ensure that you extract maximum value.
KPIs
Choose the performance metrics carefully. These are the metrics based on which the commission is paid. Choose whether you will pay for each click, each follower gained, each sale, each newsletter subscription, or something else.
Choosing the key metrics and communicating that to the affiliate is vital. Measure only what matters to you. If you have a freemium + paid model, tracking just clicks or visits would not serve value. You would want more sales. However, in the initial stage, every visit matters too. Pick a metric and then pave your way through it.
Pick the Right Commission Structure and Rates
A poor commission rate (independently or with respect to your competitors) can hamper your affiliate partnership. You don’t want affiliates to leave or worse choose your business rival. Hence, you need to ensure a competitive and sustainable commission rate.
Also, opting for the right commission structure can save money. For instance, if you have a big deal size, pick a one-time commission instead of recurring. This way you don’t end up burning your pocket.
Choose Affiliates Wisely
What if you choose an affiliate with a completely different audience? They might bring customers and earn affiliates. However, the audience will leave due to a lack of product market fit. They won’t derive much value. As a result, you would lose customers and pay affiliates as well.
So, choose affiliates after due diligence. Analyze the kind of audience they engage with and their content. Also, get a background check in case of a poor personal brand. When you pick an affiliate, they become part of the brand. So, you need to be mindful of every affiliate partnership.
Leverage Brand Assets
Don’t miss the opportunity to share brand assets with the affiliates. This equips them with exclusive brand resources and better product understanding.
Communicate and build relations with the affiliate for more natural brand promotion. It’s collective growth for both parties. People don’t buy off from pitches even if they trust the person. They want genuine recommendations. So, provide brand kits, resources, graphics, and other material that enhances the promotion of the affiliate.
Sign an Agreement and Discuss the Terms
Sign a formal agreement with affiliates for a secure and mutual partnership. But what to include in an agreement?
Commission terms: structure and percentages
KPIs tracked
Payment terms
You could get a formal agreement through your legal team but ensure to include these three basic things. Keep healthy communication with the affiliates and discuss all the relevant details.
Also, beware of scams while running such programs. Scams? If you track clicks or visits as primary KPIs, then the affiliate might use bots to show better performance and trick you into getting more commissions.
SaaS Affiliate Marketing Case Study: Moosend
Moosend Affiliate Program
Let us look at the Moosend affiliate program that pays over $2 for each click.
It starts by highlighting the main offer for affiliates which is a 30% recurring commission for a new referral. It clarifies the commission structure and rate in the opening itself.
Apart from this, it combines it with a tier-based structure. Here, you can check the final monthly commission that you can earn. It gives clarity to the affiliate about the commissions.
It has a dedicated marketing resource kit for affiliates. It includes banners, images, logos, social media posts, email swipes, etc.
They have reviews from their affiliates about their earnings and work experience to build credibility.
All this combined, the Moosend affiliate program is enticing and gaining traction. Also, they elaborate on the affiliate process and specific stats on their landing page. You could refer to the landing page to get an idea of how to work on it. In case you go by outreach affiliate, then also having a landing page that makes it easier for them to understand will be valuable.
Is SaaS Affiliate Marketing for You?
SaaS affiliate marketing could save a lot from your marketing budget spend. But is affiliate the right choice for your business?
You just need to ensure three things before you start with an affiliate:
Good Retention Rates: If your retention rate is poor, then you won’t be able to get a lot of value from affiliates. You would pay $30 for bringing in 5 customers, whilst you might only make $300 combined. Out of this, $300 is spent on setup, and other services offered to them. In this case, you would have massive losses. Hence, having a high LTV is crucial.
Profit Margins: Avoid affiliates if you are at the burning stage of your business. It will be difficult to pay the affiliates regularly and hard to manage operating costs.
Ability to Pay Cash for Each Sale: Avoid affiliate marketing if you can not pay a commission for every affiliate sale. If your product monetizes after considerable time and you have a long sales cycle, you would have a hard time paying commission right away.
Conclusion
If you can pay commissions and have good retention rates, affiliate marketing is a viable option for your business. You can opt for the method and best practices mentioned above to leverage it.
FAQs
What is SaaS affiliate marketing?
SaaS affiliate marketing is a partnership agreement between two companies or parties where one promotes the product of another via referral in exchange for a commission.
How can I promote my SaaS product with affiliate marketing?
You can promote your SasS product with affiliate marketing by following the steps below:
Step 1: Define Commission Structure
Step 2: Look For Affiliate Partners
Step 3: Create Marketing Assets
Step 4: Track Performance
Step 5: Reward
What are the best practices for SaaS affiliate marketing?
The best practice for SaaS affiliate marketing include:
Reality TV shows are quite common and are taking their sweet turn to entertain the general public with their content. India has seen its fair share of reality TV shows, be it singing, dancing or survival shows.
For the first time, a business reality show has intrigued the Indian audience. It was able to make a place in the hearts of people. Shark Tank India is the Indian version of the American business reality show Shark Tank.
For those who donât know, Shark Tank is a reality show where budding entrepreneurs showcase their business models to the most successful business people around the country. Here, they try to get the judges to invest in their business idea.
The first season of Shark Tank India was produced by Studio NEXT. It was telecasted on Sony Entertainment Television Channel on December 20, 2021, and was a huge hit. The reality tv show will have its second season very soon. In this article, we will talk about what we can expect in the next season of Shark Tank India and how you can register to be a part of it. So without any further ado, letâs get started.
“It comes down to finding something you love to do and then just trying to be great at it.” -Mark Cuban
Shark Tank India is the Indian version of the American reality television show. Young entrepreneurs that have already started their business comes to the show to share their business models and plans for their startups in front of judges and persuade them to invest.
The American version aired on August 9, 2009. The judges select the business to invest in, identify flaws in the product or services, and then provide advice to better them. The pitchers need to impress the successful entrepreneurs referred to as âSharksâ.
The first season of Shark Tank India gave several entrepreneurs great opportunities as the sharks invested in their businesses. They provided funds and also valuable opinions and advice. Some new-age entrepreneurs got a great start with their products. Thanks to the Sharks.
Shark Tank India 2
The official date of the second season is not yet confirmed. The Promos are is already out. We can expect the show to air in December like it did last year. The program will have the same notion as its previous season but better opportunities.
The sharks will invest in those businesses they find interesting. New offers, investments and deals will be provided to the contestants as per their business model by the Sharks. Aman Gupta, Peyush Bansal, Namita Thapar, Anupam Mittal, Vineeta Singh and Ghazal Alagh are all set to return as the judges of the reality show. As per reports, Amit Jain (CEO and Co-founder of CarDekho) will replace Ashneer Grover this season.
The show received lots of positive feedback, which led to a second season. This innovative concept of the show has attracted audiences in India. Especially when the country is said to be the hub of Startups, itâs inevitable that a show like this will create hype amongst the audience.
Shark Tank is growing in popularity around the globe. Shark Tank Nepal is also set to start very soon in our neighbouring country Nepal.
The American business reality show that has been running for 14 seasons got its India version and it just ended its first season with a bang. One can be a part of the second season and can present their innovative business ideas in front of the sharks. All they have to do is to fill up the Shark Tank Online Application Form.
Step 1- Log on to the official page of Shark Tank via the Sony LIV app/website.
Step 2- Verify your mobile number with OTP.
Step 3- Select your preferred Language.
Step 4- Agree with the Terms and Conditions
Step 5- Read the Instructions carefully, and watch Tutorial Video. Click on Start to proceed.
Provide Accurate Details
Step 6- Fill out the entire form carefully, especially the sections that are marked as mandatory.
Profile Information
About Your Business
Required Investment
Company Information
Legal Information
Television Exposure
Personal Information
Step 7- Declaration and Submit.
Now you have to wait for Shark Team to contact you.
Conclusion
Getting someone to invest in your business is quite a work. It is hard to find who is willing to trust in your business model, provide you with funds, and also good advice for your business. Shark Tank is an opportunity for young entrepreneurs just beginning with their innovative startups.
FAQs
Is Shark Tank India season 2 coming?
Shark Tank India 2 is expected to air in December 2022.
Who is the richest shark in Shark Tank India?
Aman Gupta, the CMO, and Co-founder of boAt is said to be the richest shark in the show.
How many Shark Tank India episodes are telecasted?
There are 36 episodes of Shark Tank India in the first season.
If your product is not unique in terms of features, pricing, speed of delivery, etc. you won’t be able to differentiate your product in the market.
For example, you might have to come up with coconut oil that has more medicinal benefits that cost a little bit less than other similar products. That’s a good USP.
Generates Profit
A good product idea comes with a profit margin as well. Your business won’t sustain if it doesn’t generate profit right?
Has a Demand in the Market
Your product should have a demand in the market. If there is no demand, there is no use in making a product.
Compels Customers to Open their Wallets
A lot of products are launched in the market every other minute. But, do all the products bought by the people?
The answer is NO.
Your customers should be compelled to buy your product.
If your product is easy to use and has good aesthetics, long durability, amazing user experience, solid USP and solves the problem of people then you will surely have excellent sales.
With that understood, here are 11 ways to come up with a unique product idea.
The above graph shows the prime obstacles faced in the path of innovation in percentages as per the data shared by viima.com
1. Take Inspiration From Your Own Life
Before scouring the internet, try to analyze what problems you face on a daily basis. Maybe, the problem that you encounter is also being faced by other people.
Make a list of the problems that you or your family members or friends face and try to analyze if you can solve them.
2. Ask Your Customers
If you have existing customers or identified a target audience you can send them survey forms or conduct telephonic or one on one interviews to understand what problems they are facing.
Ask them what could be the potential solution to their problem.
They might not be able to answer this question but, that’s fine because it is your job to come up with innovative product ideas.
You should also ask if they would pay money to resolve it.
If they are not willing to pay money then this problem is not worth solving.
On the other hand, if the problem is very serious and they are willing to pay the money you can start brainstorming product ideas.
Develop a prototype and give it to your customers and ask them if they liked your idea.
If the majority of the people say yes, you are on the right track.
3. Browse Online Consumer Marketplace
Hop over on popular marketplaces and see which products are rapidly selling.
See, what problem the product is trying to solve.
Then go to the review section and analyze what things people liked and disliked about the product.
You may find a major con in the product which you can solve quickly and make the product much better.
Popular consumer marketplaces which you can check are as follows:
Amazon
Flipkart
Etsy
Oberlo
eBay
Alibaba and AliExpress
Walmart
IndiaMART
Pro Tip: You will find gem product ideas in the 1 to 3-star reviews.
Most of the time people who give low ratings describe what went wrong with the product in great detail.
Read these reviews and you will surely understand what things you need to solve in an existing product or you may even get a new product idea.
But, let me tell you that it is the 14th largest social network in the world and has 431 million monthly active users.
As you will see visual content on Pinterest it would be easy for you to get unique product ideas.
5. Hop Over on Quora and Reddit
Reddit Website
Online forums like Quora and Reddit are great places to get new product ideas.
Since there are real people on these platforms with real problems you will get new perspectives.
Just type in your keyword related to your product or business in the search bar and unlock interesting discussions, questions and even solutions.
6. Analyze Product Trends and Discovery Websites
TrendHunter Website
Product trend and discovery websites like Trend Hunter, TrendWatching and PSFK allow you to get data-driven insights into consumer trends, products, consumer experience and more.
You can find trend reports on pretty much every industry. Since these websites have vast information, don’t waste tons of time on these websites.
On these two platforms, you can see how much each project has raised which allows you to get innovative product ideas that are profitable.
8. Follow Industry Leaders
If you have already decided on the industry and niche you would like to be in you can follow industry leaders or emerging entrepreneurs to discover unique insights and product ideas.
9. Use Google Keyword Planner and Google Trends
Google Trends
Type in your product keyword in the Google Keyword Planner and see how many people are searching for this keyword.
Higher the volume, the higher the trend of the product.
Google Trends will tell you how the trend of the keyword was from the past 30 days or even from the past 18 years.
You can even find in which countries and cities the keyword is trending.
This allows you to understand the demographics of your potential target audience.
You can even find search terms that are trending globally and regionally.
10. Analyze Competitorâs Website
Once you know about your product niche and industry you can visit your competitor’s websites and analyze what products they are selling and what are their upcoming launches.
You can understand their USP and pricing model.
Try to make a list of all of your competitors with their unique characteristics and then analyze what is common in all of them and what you can do differently.
11. You Donât Need a Completely New Idea
It’s not necessary to invent something completely new.
You can make existing products better or combine two different products with different purposes that solve a single problem.
Ray Kroc, founder of McDonaldâs stole the idea of selling burgers from two brothers Dick and Mac McDonald who had started a hamburger stand in California.
The two brothers had invented a cooking operation like an assembly line in a factory which allowed them to make burgers within minutes.
Due to this unique cooking method, people were able to order from the window and have their food in minutes rather than waiting in a big queue.
In 2015, Facebook was in big trouble when they were losing its users to Snapchat due to the popular Snapchat Stories feature.
In August 2016, Instagram replicated the same idea and released Instagram Stories. What a unique name!
As you can see from the above examples, you don’t need to make something completely new but, make sure it has a unique USP that beats all of your competitors.
Conclusion
So, here are all the ways through which you can discover product ideas. This is a very crucial stage in your product design journey.
Always remember that your product should help people solve their problems. It should make the life of your customers easier and happier.
Make sure that your product idea has demand in the market and people are willing to pay money for it.
This is just a start!
From validating the product idea to prototyping, testing, manufacturing, funding and finally selling the product there are so many things that you need to consider while designing a product.
FAQs
How do you come up with innovative product ideas?
There are more than a single way to get innovative product idea. Some of them include learning the latest trend, knowing the need of the hour, enhancing an already existing product into something better, etc.
What are the five important sources of new product ideas?
The idea can be derived from many places. Some of the most common five sources are customers, competitors, trends, changes in industry or market structure and influencers.
Where do companies get ideas for new products?
Some of the common ways through which companies get their ideas for new products are market search, customer feedback, brainstorming, customer demand, etc.
ââIn the world of the SaaS (Software as a Service) industry, apart from the business model, demo videos help in attracting collective masses and also in influencing the audience towards a particular SaaS brand. It provides more value to new users who are visiting the platform for the first time since they require a first-hand guidelines on where to go, exact features, how to get started, and access. The more illustrative demos and tutorials are, the better.
In most simple words, it’s similar in a way, just like representatives campaign themselves before elections, by providing an outline of what could be the upcoming policies and promises. It’s more like a tool throwing shades of demonstrating content along with benefits, features, and uses and may generate adrenaline shots to influence more audiences. Hence, demo videos may contribute towards a steady and gradual rise in sales.
So if you want to create a unique demo video, Take a look at the steps below.
ECG- Evolving, Constant, Growth-Oriented Model. Before deciding the niche for the first video or every consecutive video, one must keep this model in mind.
Evolving
It refers to evolving content (the demo video) that must have the latest volume. The video should track the ongoing trends and public interests zone. If the outline and plot of the video are story-based, it can either focus on presenting an ancient story with the latest touch and trends or it can have its own unique script.
Constant
It is dedicated to all the demo videos, a company launches irrespective of the niche. Each of them must have a few necessary sections demonstrating the guidelines; how the platform can be used; where to head; and other records so that the new users are not perplexed on their first visit.
Apart from the guidelines, the video may end up with a note of communication on how customers can reach, with provided emails or phone numbers for queries. However, this note of communication is not necessary to be present in the constant run.
Growth
This segment can have features of the service or the platform which make it stand out. This is the segment where founders can add their creativity and demonstrate how the platform is the best and make it their signature product, different from the existing ones in the run. This should tell why users should choose their (the company who launched the demo video) product. A positive answer to this âwhyâ will incline towards growth.
The mixture of the above-mentioned can create a unique demo video for SaaS players.
2. Stick To Your Niche
Stick to the kind of services provided on your platform, it’s better to highlight it by zooming in on that region/button. Elaborate on the ease and convenience after pressing the submit or start button, nothing needs to be done after that.
It can also contain how the work is done behind the screen (maybe the calculations and computation), which will strengthen trust and transparency. Also, how the content can be arranged in a neat and accessible manner, how users get engaged etc.
3. Note Down Your Plan
It’s always a better way to note down things and create an outline of what the demo video is going to be. It must have the proper sequence of events and activities with suitable graphics, matching the scenes. Segments of animation are separated from realistic visuals.
4. Use Rich Graphics
Rich Graphic Design used in a Demo Video
Rich graphic design is no less than a blessing to the script of a demo video. Oftentimes it acts as a game-changer factor for the rise in reach and sales. Components of the video may have various graphics ranging from captions, voiceover, animation, shapes, arrows, headers, highlighters, and a lot more.
Graphics should also match the targeted audience. If it’s targeted towards teens then it can have animation and worldwide-known anime characters. A boring script can be illustrated fascinatingly if graphics are used in the right way.
Either it can set a trend (through core creative ways), dig out some old popular trend, a bouncer (by studying the pasts graph or maybe the 90s trend), or stick to the ongoing trends.ââââ
5. Categorize Your Target Audience
If a platform has ample existing demo videos, then the next step could be creating one which has specific information related to a particular age group, industry, or segment of society. This will help to attract collective conscience from a particular domain, convincing new users and existing ones to continue and stay on the platform.
If the product is a bit complex and new to the audience, could be coding and software, then the components of the video must be evocative and should not contain highly technical language and terminologies. This will not only help in increasing the statistical data of engagement among the known minds but also, will act as a mini explainer to a layman. Hence, it may also help to ignite the viewer’s thought process.
Here’s a post-content creation step, which has a significant role. Choosing the application where the video is to be posted or launched. It’s better to launch it on multiple outlets. YouTube is a well-known platform that can help in public relations and outreach. Follow these steps and create an incredible demo video for your SaaS product.
FAQs
How do I create a great SaaS demo?
Create a video keeping in mind your targeted audience, Keep it simple, Address the pain points of your customers, and add customer success stories.
What is a SaaS demo?
A SaaS demo is a demo focused on customers that are new to your product. The demo video demonstrates how to make the best use of the platform while highlighting its features.
How do I create a SaaS product demo?
Focus on the pain point of your customers, show them how your product is better than the competitors, and use rich graphics in the video.
The coronavirus outbreak has led many companies across the globe to downsize their operations and is also making employees work from home. Amidst the pandemic, several people lost their jobs as the companies were struggling to spruce up revenues and some were even completely shut for several days. The Centre for Monitoring Indian Economy conducted a study where they found out that 122 million people were fired and lost their jobs in April 2020. Of this number, 75% of people were daily-wage earners and small traders.
Being fired can be a huge kick in the gut, even though your performance was good or not. Even if you are a person who doesnât get financially affected by losing the job; it can affect your self-esteem and mental well-being. Here in this article, you will find the path that you should follow when you get fired or laid off from work.
As soon as you receive your termination letter or notice, the first good step would be to ask the question: âWhy was I fired?â The only reason why this would be helpful is that learning about your flaws will help you grow.
By knowing about your shortcomings and flaws you will be less likely to repeat the same mistakes in the future and take the risk of getting fired again in a successive job. Also, if the company fired you because of structural changes that have nothing to do with your performance, then it would be a relief for you.
Seek Other Available Opportunities
Often the company has budget cuts due to various reasons. One of the common reasons is the downfall of the economy due to Covid-19 Pandemic. But if the company has decided to downsize the resources for such reasons and it was not because of your performance then you can perhaps inquire with your employer about other available opportunities within the company.
In such cases, your employer might show your keen interest in not leaving the company and might help you get placed at some other department/work. Even then if your employer doesnât give you a positive answer, you should happily accept their decision.
Leave on Good Terms
It is always said that whenever we leave things, we should do it on a happy note. However, being positive at work is a skill set that we must acquire in the early days of our work. It is quite evident that after getting fired, you might not feel good about the company or your superiors.
But, it is important for you to leave the organization on good terms because you can get a positive reference for your future employer from the person who fired you. Before you leave the company, make sure that you thank them for the time you spent at their organization. Make sure to leave with a good impression and a warm heart.
Look if You Meet for Unemployment Assistance
If you are fired from work, then it will likely mean that you are eligible for the benefits. But if you are expelled for your misdemeanors, such as drug testing or any kind of abusive behavior; then, definitely you will be disbarred from Unemployment benefits for a time.
Self-Care and Self-Reflection
Getting fired can be an overwhelming and stressful part of your life and you might start facing a terrific change. But all you should think about at this time is to take care of yourself. Maybe this could be the best time for you to focus on your relationships, focus on your health, and take time for yourself in reflecting on your needs and wants. Before you start on your next path, take some time to deal with the present before jumping back into the workforce. You could also explore new fields of work that you always wished to try but never got the opportunity and time for. Take this opportunity for self-care and self-reflection.
Update Your Resume
Update Your Resume
It is important that your resume is up to date before applying for further opportunities. If you are a person who has been working for a few years, it is time for you to update your resume or make a new one.
List down all the experiences, skills, and pieces of training that you gained in all the years while working and include them in your profile. Also, you can refer to various job descriptions from your previous positions and current job postings that are relevant. If at any point you find it difficult to make a resume, start looking out for samples on the internet that are relevant to your position or industry. You can also read about how to make a good resume on the internet.
Whatever you think will help you in your future job, start mastering those skills at this time. For example, advancing your knowledge about software that you are already working on can help you make a difference when finding opportunities for a job. The competition in the future is going to be cut-throat and to survive in this battle start upgrading yourself at this time.
It is very important for you to have professional body language, the right amount of confidence, and the ability to answer the questions of the interviewers thoughtfully. Interviews in the future are not going to be lenient in any way as the employer wants to hire the best talent possible. You can utilize this time of yours in practicing the interviewers with your family members or friends. Take some time to research the company where you apply so that you can answer the questions with specifics.
Start Applying For New Jobs
After giving yourself time and space, it is important you start finding a new job for yourself. In such unprecedented times, it is difficult to find a job that pays you according to your demands, but if you have the talent and you can contribute more than what the company demands, you will get a job. Reach out to your personal network, start sending check-in messages to former colleagues, and start applying online and certainly you will get calls for interviews.
Best Platforms to Visit for the Job
Portals
Reason
Linkedin
For job search, and updates from the corporate World. You can also connect with people.
Angel.co
For Startup jobs near you or remote.
Indeed
For posting and hiring for any job.
Naukri.com Naukrigulf.com
For job search in India and Gulf.
Glassdoor
For reviews about Companies and Startups.
Monster
For global job opportunities.
SimplyHired
For global employers and job opportunities.
Talk About Your Termination
When you apply for new jobs, certainly, the organizations will ask you about your termination and how you handle it in interviews. Start preparing for similar questions even before attempting the interviews. Prepare the answers to such questions in the most positive light. Be confident, honest, and prepared to talk about your termination.
Be Positive, Stay Calm, and Keep Trying
Generally, people ask how to cope emotionally when getting fired. Such difficult times do not mean that this is the end of your career. Rather, take it as an opportunity to define your career goals, your ambitions, and your desires. Work hard, and be calm, patient, and positive. Following these techniques will certainly help you in dealing with stress when you are fired.
Conclusion
Getting over a job is never easy, however, life won’t stop even if you get so. The most important thing to do after losing your job is to not stop believing. After the Covid 19 outbreak, many individuals lost their job. Follow the steps mentioned above to tackle your situation. Remember, getting fired is not the end of your story, instead, it’s the end of a chapter and marks the beginning of a new one.
FAQs
When you get terminated from a job does it go on your record?
Yes, But it does not mean the employer will show it to any other organization. Generally, Employers are required to keep your record for 1 year from the date of termination.
If you get terminated from a job, can you apply again?
Yes or no, it depends on what reason you have been terminated. Generally, you can re-apply based on the conditions.
What happens when you get fired from a job?
Companies do full and final settlements within a stipulated time.
How to get a job after being fired for poor performance?
Reflect on why you got fired and work hard on that skill and then re-apply somewhere else.
If I get fired, what am I entitled to?
Based on the contract, you will get everything along with your salary.
The psychology of a human being is complicated as well as interesting. When a friend or acquaintance refers you to a product to use, you definitely get a little curious about the said product or service, they make an appearance in your head. Imagine getting rewards by just referring a product or service to your friends or family. Isn’t it amazing?
There are various types of marketing, one of them being referral marketing. Referral marketing doesnât get much attention, but the industry knows its value. You might not share about any product you bought, but when you get some discount for sharing, your inner âyouâ automatically press the share button. Referral marketing is the best way to increase sales. Not only do people bring you more customers, but they become loyal to you too.
Generations Trusting Referral Advertising
Every app, shopping website, and literally every business uses referral programs these days. In this article, we will talk about Referral Marketing so let’s get right into it.
Whenever we get a suggestion from our friend or family referring to a particular product, we are more likely to believe them. However, word-of-mouth is still the best referral channel out there, but it is nearly impossible for a company to track that referral. To solve this problem and encourage and reward their customers for referring their products, companies use referral marketing programs.
As a company, you provide a unique referral code to every customer and ask them to share that code and earn some profit. When people share that code with someone and bring you a new customer, they get reward points or money and you get a lead. As already said, this is not as powerful as word-of-mouth, but it is still a good option as people will share your content to earn points that will be a reward and there is hardly anyone who doesn’t like rewards.
Rewarding Options for Referral Marketing Strategies
There are four ways to provide the reward:
Rewardingboth parties: You can reward both the referrer and your new customer. This way, both the people get the benefit and it is a great way to motivate them to bring in more customers.
Rewardingthereferred: Reward the person who is referred by someone. People who feel guilty to make a profit by referring will love this feature. However, you should analyze the audience first, as not the majority of people feel that way.
Rewardingthereferrer: By rewarding the person who referred someone, you motivate the next person to refer someone else. By this method, you donât have to spend on both parties and the process will still continue.
NoRewards: You can provide the referring code and reward none of them to share it. Although this is an option, people will not appreciate it much, unless you have great content.
Some Amazing Stats of Referral Marketing
In a survey, people were 4 times more likely to buy when referred by a friend
Over 90% of respondents trust referrals from people they knew.
According to Capterra, 88% of B2B decision-makers rely on word-of-mouth for information and advice.
A survey shows every referring customer makes an average of 2.68 invites.
Companies with formalized referral programs experience more revenue growth.
Surprisingly, only 30% of B2B companies have formal referral programs.
Advantages of Referral Marketing
Budget: The first and best advantage of referral marketing is that you donât have to spend too much money. The money needed for referral marketing is too little than any other traditional advertisements. However, it depends on you how much reward you wish to give to your customers for sharing your content with others.
Comfort: People are more comfortable buying any product when it is referred to them by their friends or family. Referral marketing is much more effective than traditional advertising.
FastResults: The impact of referral marketing can be seen very quickly. It doesnât take much time for people to share any content. If you are using referral marketing for an app or e-commerce website, then you donât have to wait too long to see the results.
ContinuousProcess: People donât stop referring until you want them to. A will refer to B and B will refer to C and so on. It is a never-ending process. So, you donât have to worry about the process. However, you should update the process and the system to better them.
LoyalCustomer: The best thing referral marketing do is to target loyal customers. Even if they are not loyal customers, they are still loyal marketers for you. When people get rewards from you, they will prefer your product over others. These were some of the advantages of referral programs.
Boost Your Referral Campaign
Disadvantages of Referral Marketing
Budget: Although you are saved from spending tons of money on advertisement with referral marketing, you still have to spend some money. You will have to give up some profit to the customer in the form of rewards.
The senseofGuilt: Some people donât share their referral code as they think they will be sellouts. Some people donât like making a profit out of someone without doing anything but a click. They will have a problem with their inner âsense of guiltâ.
NotEfficientEnough: Compared to word-of-mouth referring, referral marketing is just a kid. People are more likely to buy when people heard about the product from somebody. Moreover, people are aware that word-of-mouth referrals are mostly free, so everyone would give their honest opinion. Whereas, in referral marketing, most people prefer to earn rewards only.
Some Top Referral Marketing Software
Now, that you know what are the advantages and disadvantages of referral marketing, you might want to know how you can have this program on your own website or app. This is 2022, therefore, there are services available for everything. You can use any of the below tools to integrate the referral program into your website.¡  Â
Referral Factory
ReferralCandy
Friendbuy Â
InviteReferrals
Mention Me
Ambassador
Genius Referrals
Referral SaaSquatch
Referral Rock
Revetize
ReferralMagic
TapMango
Talkable
Conclusion
Referral programs increase your sales. However, you might feel annoyed when someone WhatsApp you a download link again and again, which will make them some bucks. But by seeing something time and again, an idea to check that service out develops in our mind. And thatâs what the ultimate goal of marketing is.
FAQs
What is referral marketing?
Referral marketing is a word-of-mouth strategy created by a business to tempt current customers to recommend the brand to their friends, family, and contacts. It is a tool to expand and increase the customer base. It heavily relies on the internet and social media.
Do Referral programs work?
Referral programs are incredibly successful as people love earning rewards, so they refer the products and services to their acquaintances, and the cycle continues.
Why Referral Marketing is the best?
Referral marketing is cost-effective marketing and its success rate is immense.
Can you make money on referrals?
Of course, you can. You get rewarded for successful referrals.
Pratyusha Srivastava
