How the Endowment Effect can Affect Businesses
Businesses can be affected due to consumer behavior that they might find hard to predict. Many theories, models and research have long tried to predict motivations of consumers for buying goods or services based on consumer preferences
The Executive’s Guide to Marketing Automation
Automation, analytics and big data are among the top of mind concerns for marketers these days. And it makes perfect sense as the volume of data has grown exponentially over the past several years and it becomes impossible to effectively deal with such volumes manually. In this article we present different marketing automation examples and explore how tools help improve the lead scoring process, boost customer retention and scale email marketing campaigns.
Product-Led Growth (PLG): The Ultimate SaaS Business Growth Strategy To Pursue
The competition today, both in the product and services space, is tougher than ever. Superior UX (user experience) and CX (customer experience) are the two key battlefields with the most at stake. Should we still stay with the sales-led business growth model or pursue the newer product-led growth (PLG) paradigm? Let’s deep dive into the matter.
Why Customer Centricity Will Win You More Business
Customer centricity is a buzzword you can hardly escape these days. But, despite so much talk, few companies actually understand how to keep their customer focus sharp and, more importantly, why this area is worth more attention. So let’s dig into the matter and take a look at some great customer centricity examples, illustrating why this practice cannot be ignored in 2020.
A Manager’s Guide to Interpersonal Communication
People are promoted to management positions for a variety of reasons. For many, they rise to the top because of their knowledge, technical skills, and decision-making capabilities. As a manager, your effectiveness also strongly depends on your ability to communicate well with your team members and other stakeholders. Here is a quick guide on Interpersonal Communication for Managers.
What is the Direct to Consumer (DTC) Business Model?
Everyone should be paying more attention to the Direct to To Consumer (DTC) space as it’s booming and according to a study, two-thirds of customers expect to have direct connectivity with brands. There’s no denying that DTC is not only here to stay, but its growth will continue in the foreseeable future. So, how does the DTC business model work?
Multitasking & Context Switching Ruin Your Productivity
Did you know that about 28 billion man-hours are wasted each year because of what we now call context switching or multitasking? If you are finding that lack of focus and constant interruptions are affecting your work, then this post is for you. You’ll learn exactly what context switching and multitasking are and get some tips on how to overcome both of these productivity-breakers.
The Ultimate Guide to Using Metaphors in Presentations and Speeches
Metaphors are one of the often-forgotten tricks among presenters. Along with other figures of speech such as similes, analogies personification, and alliteration, they make your texts more engaging, memorable and eloquent. As well, metaphors serve as a great tool for breaking down complex concepts into more digestible statements.
A Quick Read on Prospect Theory and Loss Aversion
For a consumer, economic decisions are based on certain types of behavior. Prospect Theory or the loss-aversion theory in behavioral economics and behavioral finance, aims to determine people’s decision making and their tendency for loss aversion.
Overcoming Sunk Cost Fallacy: Get Better at Decision-Making
One of the first things you learn at an economics course is that you should never take irrecoverable (sunk) costs into account when you need to decide upon present or future investments. But since humans are not the most rational beings, we often forget that basic rule and let the past “investment” distort our judgments. This cognitive tendency is known as “sunk cost fallacy” and it can massively undermine both your personal and business decision-making.
Circular Economy to Save the Planet
The circular economy is an economic model based on eliminating waste and making the economy more sustainable. The model is a diversion from the linear economy, which focuses merely on the take, make, consume and dispose of method. But can the circular economy model save the planet?
Business Bullet Journal Guide: A Great Strategy to Max Your Productivity
Everyone has personal and professional goals. Everyone has bucket lists. And if our goals and wish lists are important enough, we do things to make them happen, usually in small increments.