Investing is one of the most important aspects companies have to deal with on a regular basis. Companies have to figure out when to spend while also looking at what to spend it on that. Now an investment doesn’t necessarily mean money, but can also be the time, or effort put towards a particular thing. However companies are main objective is to make money while turning a consistent profit. But have you ever wonder if the investment your company has made actually turns a profit? There’s a way to do it, it’s called Return on Investment (ROI); which is a performance measure used to evaluate the efficiency of an investment or to compare the efficiency of a number of different investments.
It is crucial for companies to check their Return on Investment wherever they designate any kind of investment. You want to make sure you are turning a profit on your investments ROI can be used to help narrow down where a company is or is not making a return on their investment.
Since 2006, Outdoor Business Network has worked effortlessly to bring their retailers industry leading distributors and we are proud to announce the addition of Green Supply. Green Supply offers wholesale hunting, outdoors and sporting goods products with over 35 thousand products ranging from over 260 manufacturers. The partnership will allow Green Supply products to be distributed through the e-Commerce platform provided by Outdoor Business Network. The OBN team is excited to work with Green Supply and help build the image of the Outdoor industry.
Our President and CEO Curtis Jazwiecki will be hosting Shot Show University seminars addressing retailers and industry leader’s about the importance of online marketing within a company. His talk will focus on why you need to engage your customers and how to do so effectively. The marketing with social media speech is part 1 of a 5 session series focusing on marketing in today’s fast paced business environment. Sessions begin on Monday January 13, in Break Room 2, at 10:40 AM. For more information go to http://www.shotshow.org/education/ and or http://www.shotshow.org/shot-university-speakers#jazwiecki
Session 1: Marketing with Social Media (10:40 – 11:50 AM) Learn the latest tips and tactics to increase the success of your marketing with social media.
Session 2: New Technologies to Drive Foot Traffic to Your Store (1:10 – 2:00 PM)
Seminar will focus on the latest technologies retailers can use to leverage technology to engage customers and bring them into their retail space.
Session 3: Building a Marketing Plan (2:10 – 3:00 PM)
Class will help retailers to understand the key components that go into making a world-class marketing plan.
Session 4: Search Engine Optimization (SEO) (3:10 – 4:00 PM)
Seminar will highlight eight simple steps that can dramatically impact your search engine rankings and insure you are getting the most from your SEO efforts.
Session 5: Determine your Marketing Return on Investment (ROI) (4:10 – 5:00 PM)
Learn how to determine the financial return on your marketing plan with this introductory class.
The better we get at preventing fraud the harder fraudsters try to take our hard earned money. The new term you will start hearing about is “friendly fraud”. The short explanation of this is a customer orders product via the internet. The customer takes delivery. The final step the customer reverses the charges claiming they never received the product when in reality they have. I know you are thinking that is impossible and no one does this let alone gets away with this. Well I am here to tell the have can and will continue to get away with this nonsense if retailers don’t protect themselves and fight the good fight.
So what can you do to cut down on and hopeful stop “friendly fraud”?
First thing is having a clear and concise 30 day return policy and make sure your customers know about it. This makes them more likely to contact you rather than the credit card company when disputing a charge. When having only a couple day return policy consumer fraud tends to be much higher. Plus having a clearly written policy may deter a fraudster as it will give you more of a “we have our act together” type business. Keep in mind fraudsters, like any crook, will pick the easier mark or the path of least resistance.
Second make sure you send a delivery confirmation –email after an item arrives at the customers home or business. This is simple a paper trail that may come in handy down the road should the customer dispute the fact that they received the product.
Third if it is a recurring sale or membership perhaps, makes sure it is very easy for customers to end or opt-out. If they can’t and they call the bank and complain about the charges most times the bank will side with the consumer leaving you with another reversed charge.
These are just a few tips for things you can do to protect yourself. Another resource or service to help prevent chargeback’s is www.chargebacks911.com. For a monthly fee they will manage chargeback’s and have an excellent record of reducing them. As always feel free to call the team here if you have any questions. 1-800-699-0820 ext 2
Outdoor Business Network offers professional branding services that can set your company apart from the competition. We can create an identity for your business that displays your core values while increasing your brand recognition and confirms your credibility in the industry. With sales in the industry rapidly increasing, let OBN create a visual branding package for your company that delivers your message clearly, increases brand loyalty, and motivates the buyer to choose your goods and services. Strong branding is a must as the struggle to win customers grows daily, and OBN can provide you with the modern identity your business needs to win the loyalty of purchasers, both online, and in your brick and mortar store.