Approaching International Markets

Surely, the impact of globalization is ubiquitous and has an effect on every one of us. Especially ambiguous corporations can profit by the boundless benefits of international markets by taking advantage of increased revenues and improved opportunities.

First of all, the volume of sales adopts a whole new dimension of value just by realizing the available options. Moreover, with the current infrastructure, international trade has never been this worthwhile. But international markets are not just about selling your products worldwide; it also includes a way to source the different needs of your business from a variety of offerings. Some countries provide products and services for a cheaper price while maintaining a high level of quality. Additionally, more and more businesses are outsourcing their employees to increase the diversity of their workforce.

Transnational markets are driven by diversity which could be considered as a threat and opportunity at the same time. Without a doubt, a diverse market- portfolio helps to distribute the given assets and provides chances to sell and source a variety of new products. However, adaptation to the counterpart is the key to enter a new market. This is not always as easy as it seems and requires professional support of somebody who knows the local customs, culture, and laws including insightful market research before entering a new market. Fortunately, there are a lot of companies available which are specialized in that subject to improve the approach of a new market in the most efficient way.

Katrium offers a variety of solutions to help your company when seeking for new international market, including such as market research, lead generation, etc on an international level. Please read more about our services here: https://katrium.eu/services/

How to communicate with your customers online

Importance of customer communication for every kind of business cannot be overestimated. In our fast-paced world client won’t be waiting for a long time for your answering. If you don’t have an effective communication system, you will damage your business in a way you even didn’t expect. How could you improve communications with your customers and increase the happiness and satisfaction of your clients?

Last years we can see the raising of such communication channels like social media. According to the survey provided in 2017 respondents think that social media is an effective channel for customer service. There are a lot of paid and free ways to initiate contact with your client online, but so many entrepreneurs just failed to engage potential customers. So let’s find out how to communicate with customers online and level up conversions rate.

1. First impression

It takes seconds to build up an opinion about something. During initial interaction customers make a conclusion if this product could be useful for them or not. People are full of advertising, they don’t want to be sold to. They want to get some useful information, want to be significant and respected by a brand. That’s why the manner of responding to potential clients should be full of empathy and care.

2. Create content

Really useful and relevant content will show your professionalism and build trust in your brand.

  • Engage. Write engaging posts, tell stories about your product, be honest and open to the public.
  • Create a community of customers. People adore playing the role of critics. Ask them how to improve your product – you will not only get insights for your business but also create a supportive community with strong bolds with your product.
  • Collect information about your subscribers. Involve people to leave their contact information by filling registration forms to get access to some exclusive content. or to write a review of your service.
  • Interact people. Provide contests and reward people for participation, create polls and webinars. Every business has significant dates  – write about them and celebrate with customers anniversary of launching a new product, companies birthday and so on.

3. Respond to your customers

  • No matter what kind of comment or message is, you should respond to it. Nasty customers can leave a bad comment and you have to work with negative and show that you are ready to solve problems. When you get a compliment or question don’t leave it without an answer.
  • Don’t overuse scripts, because it is impersonal and customers won’t be satisfied with such conversation.
  • Turn negative to a positive. For example, instead of “we are close at the moment” it is better to say “we are opening at 9am”

4. sELECT RIGHT COMMUNICATION CHANNELS

Use online communication channels that are the most relevant, examples are: Google Hangouts, Social Media, Blogs, LinkedIn Groups, YouTube, Chatbots. More channels – more potential clients you will achieve.

Remember if you don’t communicate with your customer online, your competitor probably does this. It is not necessarily doing this work yourself, because you wouldn’t have time for your primary business. A good idea is to hire a professional virtual assistant, who will be responsible for online communication.

4 Day Workweek: Pros and Cons

One year ago a company from New Zealand came with interesting experiment: Employees were working only 4 days in a week, 32 hours instead of 40 hours a week and they were paid the usual salary. According to the numbers from this study, the employees felt less stressed and their work-life balance improved. In addition, the job performance wasn’t affected by those missing hours, on the contrary it slightly improved. Interesting, isn’t it? Many companies are trying to attract new employees and this is one of the advantages they can offer so let’s look at pros and cons of 4 day workweek.

The fact that you work only 4 days a week doesn’t always mean that you work only 32 hours a week. In some countries the employees can choose between 5 days with 8 hours at work or only 4 days but with 10 hours at work. This system works mostly in the United States but in some European countries the workweek is a bit shorter. For example, in the Netherlands most of the people work only 29 hours a week, in Denmark and Norway the workweek has approx. 33 hours and in Ireland it’s 34 hours. In these countries the 4 day workweek is totally possible.

pros

Now let’s talk about the advantages of 4 day workweek. According to not only the New Zealand experiment but also to some other studies, the productivity during the working hours increase to compensate the missing day. Employees use their time much more effectively by spending less time on inefficient tasks or time wasters like social media. With less stress and higher work-life balance the satisfaction of employees grows, their motivation and creativity increases and they engage better at their work. Also because of the focus on collective goals and the emphasis on efficiency the cooperation in a team needs to be better and it can bring the whole team closer together.

CONS

What about the difficulties of 4 day week? The obvious risk for employers is, that workers won’t be able to fulfill their work tasks in shorter time and it will become very costly for the whole company. It can be also very stressful for employees to manage to fit 5 day work into 4 days. Also there are some industries which require a 24/7 presence and it is simply impossible for them to put 4 day week in practice. Another fact is, that majority of other people have to work 5 days a week and if you don’t have kids or family, the 5th day can be pretty lonely for you. That can also increase your guilt, because everyone else is actually working. Emails are still coming in, tasks are waiting to be done and you have this bad feeling that you are missing out. So you should rather find some activity, otherwise you will feel very lazy and unproductive.

It’s safe to say that 4 day workweek is not for everyone but if you think that it could actually work at your company, test it out for some limited period of time and you will see if you and your team are able to accomplish more by working less.