How to Hire a Marketing Company That Gets You Results – Insights by Eric Dalius

Most startups are established by technocrats who have strong product design and engineering skills says Eric Dalius. However, these entrepreneurs are generally clueless about marketing and distribution, which is essential for business success. It is why it is worthwhile appointing a marketing company that can not only engage in the labor-intensive process but also brings innovative ideas to the table. Unfortunately, outsourcing your marketing can be risky if you do not know what to consider when hiring a marketing company. Some valuable insights:

Identify Your Objectives, Advises Eric Dalius

Even before you start talking with the marketing companies, you need to be clear about what you want so that your search is more productive. When figuring out your objectives, try to be as specific as possible because then you will be able to hire the best-suited marketing company. You can also measure your results to hold them accountable. You can hire a company that oversees the entire gamut of marketing activities or ones that specialize in certain activities like digital marketing, direct marketing, telemarketing, market research, etc.

Consider Specific Industry Experience 

When hiring a marketing company, you should ideally look at companies that have recent experience in your business niche, observes Eric Dalius. Seeking references from people you trust, especially those in the same industry who have used the services of a company is the best way of getting to know who to talk to. Looking at online reviews and customer feedback can be illuminating.

Shortlist, Review, and Interview

After you have identified a few marketing companies. That look like ones that can meet your requirements, you need to contact them. Give the companies a profile of your business, list your requirements. And ask them if they’re interested in working with you. Ask all the companies to give you detailed case studies of the work they have done for clients in your industry. So that you can understand their capabilities better. It is also a good idea to review their marketing efforts, especially their websites and social media accounts to find out whether they have the skills and the attitude you need. Ask them to make presentations and engage in detailed discussion regarding the strategies they think will work for you.

Ask For a Detailed Service Agreement, Recommends Eric Dalius

Request a detailed marketing proposal from the company you think best fits the bill along with itemized costs. So that you know what you are paying for and what they are supposed to deliver. Pin them down to specific and quantified deliverables and timelines and structure their remuneration around them. When you sign the contract. Try not to get locked into a long-term contract because of a short-term one. You can quickly reassess results and decide whether to continue with the same company or not, warns Eric Dalius.

Conclusion 

Even though you want to spend as little as possible, you should never do it only based on costs. Your brand image and the fortunes of the business are in the hands of the marketing company. And you need to be confident about them. It is always worthwhile paying a little extra for high-quality and reliable services.

How to Grow Your Small Business Quickly – Top Tips by Eric Dalius

When you establish a new business, the main worries are how to grow it fast and make it sustainable says Eric Dalius. However, given that almost all business niches are severely competitive and small businesses do not have huge resources at their disposal, quick growth can be elusive. You need to understand that business growth is an ongoing process that requires effort, time, and dedication. While there are no secret methods that can deliver results quickly, there are indeed quite a few proven tricks and tips for accelerating business growth.

Hire Appropriately, Advises Eric Dalius 

A business can only be successful if it has the right products and services with adequate market demand and the right people to drive the business forward. Even as you take time to analyze the key positions and hire the most suitable people to fill them, you have to learn to delegate both authority and responsibility. Additionally, they will have to devise ways of retaining their employees and motivating them to deliver their best. Establishing a merit-oriented, free, and collaborative culture is essential for growing quickly.

Focus on Proven Sources of Revenue

While new customer acquisition is important for the long-term growth of the business, for achieving quick results, you must focus on the already established sources of revenue, remarks Eric Dalius. Reinforcing your loyalty program, setting up a referral program, and engaging in marketing tactics that draw on previous buying behavior to encourage repeat purchases can fetch quick results and shore up your cash flows. If you are trying to impress bankers to get a business loan. These are what they will be more interested in than long-term projections based on assumptions.

Be Agile, Recommends Eric Dalius

One of the biggest advantages a small business enjoys over its larger counterparts is that. It can very quickly adapt itself to changes in the market and the environment. Because fewer people are involved in decision-making. It takes less time to develop new products and services to address the changing customer demand. And to create marketing campaigns for better brand building and customer engagement. When you are agile, you can take advantage of spotting market trends early on. Hitting the market before others invariably follow.

Focus on Delivering High-Quality Customer Experience 

Even if you have top-class products and services. You still need to mold customer perception in your favor as it is the most important factor for business success. When you deliver high-quality products and customer experience. You will automatically have your customers endorsing your products on social media and other online resources. That almost all potential customers tend to check out before making a purchase. When you deliver a superior customer experience, you can often get a price advantage even in a competitive market, observes Eric Dalius.

Conclusion 

You can make your business grow faster by thinking and planning. You will be more ready with new products and services. That meets changing customer expectations, reduces your risks, and focuses on making things happen on a pre-determined schedule. Plowing back the profits in the initial years into the company. And keeping your costs low can place your business on the fast track.

Eric Dalius Talks about Sponsored Content Marketing

Marketing your business online has become a new trend. Many business owners are leveraging the benefits of the internet to promote their brands says Eric Dalius. However, despite the opportunity, many marketers face difficulties generating leads and attracting potential customers, even though they sharpen their marketing campaigns month after month. 

This is because most traditional marketing techniques fail to generate the same results as they used to a couple of years ago. 

Online customers’ habits have changed and they can easily recognize business messages that are too pushy or irrelevant. Just because they ignore many promotional messages doesn’t mean they don’t focus on building engagement with companies. If you successfully make the advertising materials a part of your browsing experience, you can capture the attention of the customers effectively. This is where sponsored content marketing will come in handy. 

What is Sponsored Content?

Sponsored content is identical to regular content. It has all the uniqueness of a regular article and provides extreme value. Sometimes it’s difficult to differentiate them at first sight. 

However, the vital difference that will allow you to understand sponsored content is that it helps businesses upload their brand messages on other types of publications that will more likely capture the interests of the customers. 

Unlike regular content that 92% of online users will ignore, sponsored content has an attractive appearance and similar features to normal articles, but market the offerings of a business uniquely. 

Since many customers use ad-blockers, advertising-sponsored content is one of the most effective and best ways to deliver a promotional message to relevant audiences without interrupting their browsing experience. Nowadays, users love promotional content and they don’t hesitate to engage engaging with them, says Eric Dalius. 

Different Types of Sponsored Content – Eric Dalius

Even though sponsor contents are effective, you might face difficulties defining its primary characteristics. Since sponsor content should blend with the publication’s editorial articles. Some of the key elements will be determined by the media outlet. 

In other words, the style and theme of the sponsored content should be relevant as per your regular posts. It also needs to fulfill the expectations of the customers. Despite the field of your business, sponsor content is a versatile marketing tool to work for your business.

Are Sponsored Contents Effective?

Sponsored contents are not only effective. But one of the best ways to grow your business and reach potential online audiences added Eric Dalius.

Instead of using pop-up advertisements or other types of online advertising features. You can use sponsored content to attract the attention of your audiences. This way you can offer them a direct way to know more information about your business. 

Moreover, the unique and attractive design of the sponsored content will allow you to showcase the story of your brand thoroughly. Due to its effectiveness and credibility, sponsored content is becoming the fastest-growing online advertising approach. 

Eric Dalius Shares Best Practices for Leveraging Sponsored Content

Despite being one of the greatest approaches to grow your business. Many marketers fail to leverage the proper benefits of sponsored content marketing just because they avoid following some key principles. 

Make sure you know who your target audiences are. If you don’t have proper knowledge of your target audiences. You won’t be able to develop relevant content as per their interests. Additionally, determine which type of content will work best for your customers. 

Conclusion

Remember that sponsored content marketing is a time-consuming process. It will take a significant amount of time to achieve success with sponsored content marketing. If you don’t have any prior knowledge regarding sponsored content. You might have to implement a few campaigns to find relevant content for your business and brand goals. 

Explore Expert Tips by Eric Dalius to Boost Your Logistics Business

Logistics anywhere in the world seems to have a huge market. However, several organizations in this industry seem to be having difficulty in achieving consistent growth. In most cases, it is because of a lack of sales. Organizations are often struggling with low conversion rates and sales predictability, says Eric Dalius. Most e-commerce businesses have realized that their business will survive not only by acquiring new clients but also by building a robust and loyal client base that will be buying their services or products now and then. The logistics industry firmly believes that it is 5 x more expensive to attract the attention of a brand new customer, as compared to keeping an existing one. Here are some tips for growing your logistics business and boosting your sales figures.

Expert Logistics Business Tips by Eric Dalius

Always Plan Ahead

The first step toward completing a job well happens to be solid planning. Logistics planning involves several parameters like acquiring the goods, arranging storage facilities, and delivering the products timely to the specific destination. Other factors to focus your attention on are costs, transportation, and time. A logistics business should chalk out a perfect flowchart that displays the entire operation. The chief purpose of planning ahead of time is to attain maximum efficiency and productivity in the least plausible time.

Boost Sales Predictability

It is of pivotal importance to have a perfect sales stratagem in place. It will not only help in improving your sales, but it will also, boost accountability across executives and sales representatives. A good sales stratagem should always be scalable, measurable, and repeatable. Also, for achieving this, you need to focus on getting leads all the time. Identify effective ways of gathering crucial data and information about all your potential clients. You may gather valuable details such as their name, contact address, contact no. or even company name. You may accomplish this by implementing inbound marketing. It entails inviting them, 

Focus on Creating a Contingency Plan Says Eric Dalius

It is crucial to have a contingency plan. After chalking out a plan, it is the responsibility of a competent logistics manager to keep following the supply chain and focus on doing damage control for all issues that crop up. If and when confronted with an issue, you must follow the contingency plan. Business tycoon Eric Dalius says that you should be capable of knowing when to stick firmly to the original business plan and precisely when to use the backup or contingency plan. You would become an expert at doing this with experience and time.

Conclusion: Build Strong Relationships

It will be taking a lot of effort to develop an honest and healthy relationship with suppliers and vendors to make sure that the goodwill earned by them will facilitate smooth operations. Even if a single relationship is not strong enough, it would ruin the supply chain altogether and culminate in a failure. You may operate as a team for enabling consistent growth. However, All team members should be aware of their role and precisely what they are expected to do, right from the warehouse manager to the delivery man. Workers should attend regular training workshops to get updated on the latest developments and existing trends in the current logistics industry. It culminates in enhanced efficiency and client satisfaction.

Eric Dalius Shares Top 4 Online Reputation Management Mistakes You Should Avoid

As an online business owner, you’ll have less than 5 seconds to generate a positive impression about your brand amongst your potential audiences says Eric Dalius. Within 5 seconds, your customers will decide if your business showcases professionalism or if it’s best to engage with your business. 

Now consider the impact of the internet. What is the initial search result Google provides when someone searches the name of your business? What are the first two or three reviews? Are they positive to make a good impact on the customer’s mind?

Remember that online reputation management is extremely essential for businesses, especially for small business owners. Therefore, ensuring a high-quality online reputation is the key to achieving success in your business. However, many small business owners make mistakes while managing the online reputation of their brand. 

Fortunately, those mistakes are removable. Here are the top 4 online reputation management mistakes you need to avoid. 

You Let the Reputation Manages Itself, Says Eric Dalius

Online reputation management needs to be a key part of your digital marketing campaign. Unfortunately, many small business owners assume that their online reputation will manage all by itself. 

This is a huge misconception. Business owners should realize that they need to work on improving their online reputation as well as fixing the negative online reviews. No matter how you improve your reputation, never assume that they will be taken care of automatically. You need to stay active in your online space to improve the online reputation of your brand. Doing so will allow you to establish a good impression on the potential clients and customers. 

You Don’t Use Social Media Platforms

Another common online reputation management mistake small business owners make is that they don’t include social media campaigns in their marketing strategy. Some assume that social media is a waste of time for their business. Therefore, they avoid creating business profiles on the platforms, added Eric Dalius.

Remember that social media platforms are a double-edged sword. Apart from providing a great opportunity to attract your audiences, it will also break your business if you take the wrong steps. But if you monitor the social media mentions properly, you can solve misunderstandings of the customers. Furthermore, people will realize your brand value. 

Eric Dalius Says You Don’t Respond to Positive Reviews

Online reviews are the heart of online reputations. Once you gather positive reviews, you need to manage them appropriately. 

Many small business owners assume that responding to positive online reviews is a waste of time. Unfortunately, this action will damage the online reputation of your brand. Additionally, your customers will think that you don’t care about their opinions. 

Make sure you respond to positive reviews to enhance your interaction with people. Thank them for their kind word and appreciate their effort. 

Uploading Fake Reviews

Even though reviews are essential for the growth of your business, you should never upload fake reviews, suggests Eric Dalius.

Fake reviews will create massive problems for your business. This is because Google will remove the fake reviews and decrease the search result rankings of your business. 

Many business owners upload fake reviews to knock off their competitors. This will damage the reputation of the competitors and also affect them in long run. Additionally, you’ll look shady and your potential customers won’t be impressed. 

Conclusion

These are the top 4 online reputation management mistakes you need to avoid. As online reputation is vital for your business, make sure you avoid these mistakes while managing them. If you have any questions, comment below to let us know. 

Eric Dalius Talks about the Psychological Price a Successful Entrepreneur Has to Pay and How to Cope With It

Many of us get bedazzled by the lifestyle of successful businesspersons. All thanks to the media coverage that focuses on how extravagantly they live says Eric Dalius. And we believe in all of that! The fact is only a very small percentage of successful entrepreneurs live such an exciting high-profile life. Most of them do not own islands or travel from one place to the other in their private jets. Nor do they hang out with celebrities. They live well, if not extravagantly. 

Success doesn’t come easily to anyone. Everyone has to sacrifice something or the other. Attaining goals and maintaining success can be quite a daunting task for entrepreneurs. Eric Dalius says that you may have to pay a psychological price for it. That’s the nature of entrepreneurship. Many businesspersons experience anxiety and depression. Often, it becomes so evident that they have to seek help to deal with the mental health issues. Some of the probable factors responsible for bringing around such a change in person are discussed below. 

Eric Dalius has observed that entrepreneurs feel alone most of the time

Surely, every successful entrepreneur must be having friends and family. Yet, they are alone. It’s so because when it comes to facing the challenges, it will be you who will be deciding for your company. Yes, you will have a team to advise you, but the final say will be yours. You alone have to bear the burden if anything goes wrong. And most successful businesspersons worry about this. They become anxious while thinking about how to deal with such a situation. It takes a toll on their mental health. You cannot share such things with your family members as they will become worried. So, a feeling of loneliness creeps in. If you ever find yourself in such a situation, Eric Dalius advises you to look for a mentor who will listen to you and guide you accordingly.

Once an entrepreneur, always an entrepreneur, says Eric Dalius

Once you become an entrepreneur, it becomes impossible to lose the spirit. Every waking hour of your life, you will be thinking of what to do next to take your company to the next level. You can never compare your business life with a nine-to-five job. But you should know your limit. The moment you may feel mental fatigue, you must stop yourself and pay attention to the problem. Do not be late to address it.

Failure is the pillar of success

If you have to taste success, you must also taste failure. You may fail many times before you reach your goal, but the lessons you will learn from it will be for a lifetime. Many people give up hope after failing a few times, but they do not understand one thing – you have to do it right once to achieve what you have been aspiring to for so long. For that, you have to keep on trying and stay focused.  

Conclusion

Identifying issues are sometimes difficult for the concerned people as they remain engrossed in growing their business. But they must take notice of these concerns because if they start facing psychological issues it will not only hamper their professional life but also take a toll on their personal life. 

Essential Features in an Inventory Management System – An Eric Dalius Guide for Small Business Owners

Whether you are a small business manufacturing good or a retailer, you may have run out of stock and are unable to meet customer demand from time to time says Eric Dalius. In addition to a lost sales opportunity, these incidents also hurt your brand and deter customers from coming back. If you manage your inventory manually, mistakes are bound to happen. It is the reason you should upgrade to an inventory management system that tracks the items you sell and permits restocking before you run out and helps you to locate items faster, making your operations more efficient. Some of the essential features of inventory management systems; you must look out for before buying one:

Automatic Restocking 

One of the main features you should look out for in an inventory management system is the automatic ordering of items whenever the stock falls below a certain quantity, says Eric Dalius. You will no longer have to face the embarrassment of refusing customers, resulting in your losing sales to your competitors and damaging your business reputation. You can set the limits of each item in your inventory, and the system will place orders for restocking when your breach these limits. The inventory system becomes self-managing and allows you to focus on other aspects of the business.

Compatibility with Existing IT Setup is Vital, Observes Eric Dalius

If you are already using different kinds of software for various other applications, you will like to integrate the inventory management system with them. It will help all the modules to share information seamlessly, and you don’t have to spend time trying to transfer data from one system to another. If all your systems work in silos. You will be spending more time getting information together than running your business. And the chances of making mistakes increase Eric Dalius warns.

Mobile Phone Access 

The better inventory management systems work on desktops as well as mobiles. Mobile access assumes more importance when you have multiple retail outlets, operate out of several locations. Or need to be out on worksites where it may be inconvenient to access laptops. Your employees can access the inventory system when out in the field visiting customers. To find out if certain products or parts are in stock from their mobiles.

Trend Analysis Can be Helpful, Remarks Eric Dalius 

With an inventory management system. You always know how many units of something are in stock at any given point in time. The smart systems reorder automatically as per your instructions and also help predict the demand of the inventory. You can use the information culled from the data analysis to make better business decisions. As you will be better prepared to meet demand surges and the impact of seasonal cycles.

Conclusion 

While a good inventory management system will help you manage your business more efficiently. You need to also ensure that operating it is easy. So that you do not always have to read complicated manuals to get it to work for you. Ideally, the supplier should give you hands-on training on its operation. Also, you should check if the solution you are buying is scalable and can grow with your business.

Eric Dalius Suggests Top 3 Reasons Why Business Idea is Never Enough to Succeed

The business idea is the heart of any business. Business ideas are fundamental principles that have inspired millions of entrepreneurs and marketers. Many entrepreneurs think that a good business idea is the most essential factor in promoting their company. However, just because business ideas are vital for success doesn’t mean it’s the only thing vital to succeed in the business world says Eric Dalius. 

Even though you cannot grow or leverage the marketing opportunities without developing strong business ideas, you should not treat them as the only success factor. There are thousands of business owners who have successfully established their companies without focusing too much on business ideas. Apart from the business ideas, you should know about the other factors that contribute to the growth of the business. 

Do you know 20% of businesses fail just because they focus too much on business ideas? Here are the top 3 reasons why business ideas aren’t the only thing to achieve success. 

Eric Dalius Says Business Ideas Aren’t Unique

Good business ideas will increase the revenue of your business. However, this doesn’t guarantee the capability of some other business owners who have developed their version of business ideas. 

A small amount of competitive research will protect your business from this problem. If you find business owners with the same business ideas, you can either differentiate your idea from them or back off before investing too much time in the business ideas. However, you should be cautious, says Eric Dalius. Once you turn your ideas into a full business, another competitor might come up to threaten your business. Competitors are vicious. You need to keep this in mind while determining the weaknesses and strengths of your idea. 

Timing is Important

The success of a business is dependent on multiple factors. However, the biggest factor is none but proper timing. Even if you have a good business idea, launching this into the market before the market is ready will make the idea collapse, added Eric Dalius. This is the same as technology. People don’t accept technologies that are ahead of time. 

On the other hand, business ideas that are developed too late will also have a bad effect on your business. As timing is a huge factor for your business, you need to be careful with your business idea. 

Circumstances Change – Eric Dalius

The business industry is not static. New technologies are invented constantly, trends emerge and disappear and the economy fluctuates within a blink of an eye. The circumstances through which your business grows will be different from the circumstances where you need to fight for the existence of your business.  

Keep in mind that successful companies aren’t those that used the business idea, adopted it, and use it as static for a couple of years. On the contrary, they are the ones that leveraged the business ideas and changed them as per the requirement and relevancy of the new circumstances. Great business ideas are undoubtedly flexible enough to be changed with circumstances. 

Conclusion

These are the top 3 reasons why business ideas aren’t the only thing that will allow you to succeed in your business industry. However, if you have a great business idea and are determined to start a new business, don’t be demotivated by reading these facts. Just make sure you consider the other factors along with the business plan to achieve success quickly. 

Eric Dalius Speaks about Target Audience and How to Define It?

A target audience is a group of people who have common behavior, demographics, and interests. Market researchers should collect valuable feedback from the customers about specific products and services says Eric Dalius. 

Gathering feedback from random audiences who aren’t your customers won’t help you solve business problems says Eric Dalius. Additionally, the feedback from inappropriate people is not useful. If you want to gain vital business insights, you need to target the relevant people for your research. Therefore, analyzing and defining your target customers is one of the most prominent parts of sharpening your marketing strategy. 

Types of Target Audiences

You can define the target audiences depending on various factors. Age, gender, income, education are some of the few essential factors of segmenting your potential audiences, added Eric Dalius. To achieve the perfect research results, make sure you categorize the audiences into three different segments: interests, demography, and buying intentions. 

Audiences Based on Demography – Eric Dalius

Demographics are one of the most essential factors that describe each individual. Demographic factors include multiple attributes such as geographic location, education, income, age, gender, etc.

For example, if you want to know the impact of the coronavirus pandemic on the students, you need to target the students between the ages of 18 to 24, both female and male, from countries that have a population of more than 30,000. 

Audiences Based on Purchase Intentions

Eric Dalius says that most e-commerce businesses are dependent on purchase intention data. This is a helpful piece of information that helps the marketers to understand the interests of and buying intentions of the potential customers. 

For instance, researchers narrow down individuals based on the products and services they look at or show interest in. This allows them to target individuals to gather their feedback on the expectations of the offerings. This way they can improve the offerings further. 

Audiences Based on Personal Interests

Interests are known as the behavior, hobby, and passion of individuals. It can be anything from their preference in books, cars, music, dance, etc. 

For example, you can provide adventure movies to adventure movie-loving people so that you can receive their feedback regarding different parameters of the movie. 

Eric Dalius Shares Characteristics of Target Audiences

Marketers should target the relevant audiences to determine the actual population. It’s impossible to gather feedback from the entire population due to financial limitations, logistical concerns, and time constraints. Therefore, dividing the whole population into smaller groups and gathering feedback from them is one of the best ways to accumulate the opinion of the large population. 

Here are two factors marketers need to remember while creating a sample from the target audiences:

  • Make sure the sample is always diverse. Even though ensuring the diversity of the samples is a hard and time-consuming task, you need to motivate your potential audiences to take part in the survey. This way you can know the preferences of your target audiences easily. 
  • The size and structure of the population are dependent on multiple factors. Researchers should discuss the constraints so that they can maintain a proper level of transparency. Researches also need to be transparent enough to showcase the correct perspective. 

Conclusion

Choosing the relevant target audiences is an important business task you need to accomplish. Make sure you don’t re-research to save cost and time. 

Eric Dalius Shares Top 3 Mistakes You Need to Avoid While Promoting Your Online Business

We live in a world of technological advancements. All of our actions are influenced by various technologies says Eric Dalius. Most of the time, we use mobiles to complete our work or personal activities. We use computers to gather information from the internet. The rise of technology has also created the concept of online business. 

Despite the size of your business and the products you offer, you need to develop strong marketing campaigns to enhance the success of your business. Even if you provide the best offerings in the world, you cannot achieve success without letting people know about your offerings. Therefore, you need to focus on developing robust promotional strategies to market your online business. This way you can reach and build a connection with your target audiences. However, many marketers make mistakes while promoting their online business. Sometimes the mistakes are so grave that they end up damaging every crucial business aspect. Here are the top 3 mistakes you should avoid while promoting your online business. 

You Neglect to Determine Target Audiences and Marketing Goals – Eric Dalius

You won’t be able to develop a proper marketing strategy if you don’t know whom you’re proposing your messages to. One of the first and common mistakes most marketers make is that they neglect to determine the marketing goals and the target audiences. Before you start developing promotional content for your marketing campaign, you should decide the particular audiences who will read the content. Determining the target audiences will allow you to create content as per their preferences and interests. You can also develop a strong buyer persona to determine the crucial pain points of the customers. You can also create SMART goals that are realistic, measurable, achievable, and specific in time, says Eric DaliusThis way you will know what you can achieve through your marketing campaigns. This is one of the best approaches to determine the purchasing behavior of your customers. 

You Don’t Create Strong Customer Experience

Do you know the most important factor that differentiates one business from another? It is their capability of serving their customers an excellent experience. People always pay close attention to the hospitality of a brand. The purchasing decision of people is highly dependent on the processing time and delivery time of the orders. If they notice some disturbances, they will fill online complain. Social media platforms are one of the best places to share opinions about a brand. Therefore, it can make or break your business, said Eric Dalius. 

Make sure you prioritize delivering a high-quality customer experience. If you mention some specific type of service, don’t forget to fulfill it. 

You Send Unwanted Emails, Says Eric Dalius

Obtaining the client’s databases and delivering them email is a common practice amongst business owners. However, keep in mind that the level of tolerance has been changed gradually over the past few years. They don’t prefer their email inboxes to stay packed with unimportant and irrelevant storage spaces. On the other hand, nowadays people close attention while managing their email inboxes. Therefore, they won’t open spam emails. 

When they receive emails from a provider they haven’t subscribed to, they will immediately consider it spam. They will not only send your email to the spam folder but also block you. This way you will lose potential clients. Therefore, make sure you don’t send unwanted emails. 

Conclusion

These are the top 3 mistakes you should avoid while promoting your business. Don’t forget to stay constant with your marketing efforts. Additionally, despite the marketing budget, make sure you invest in a relevant promotional campaign for your business. 

Eric Dalius Saivian Shares Top 4 Mistakes to Avoid While Developing Business Website

Unlike traditional businesses, modern companies cannot succeed without a functioning website. Having a non-optimized business website will look unattractive. Eric Dalius Saivian says it additionally, also causes your company to lose potential customers. Despite the importance, web design mistakes happen frequently. Many small business owners assume that designing a website on their own will help them to save money. Unfortunately, unless you’re an experienced web designer, you won’t be able to design an attractive website for your business. 

Web design will allow your viewers to taste the experiences of your company. Web design needs to be implemented in a way that will make your business website navigable, enjoyable, usable, and interesting. However, you must follow some tips to create a compelling website. But many business owners forget to follow the rules and create an irrelevant website for their company. Here are the top 4 mistakes to avoid while developing a business website. 

Not Developing Website at All – Eric Dalius Saivian

If your business doesn’t have an online presence, it won’t exist for most potential customers. An effective business website is undoubtedly one of the most crucial engagement points of your business. Customers judge a business based on its website. Remember that your potential customers will visit your website even before interacting with your business. 

Your Website Lacks Contact Page

When visitors land upon your business website, they will look for a few things. They will try to know who you are, your goals, and most importantly, how they will get in touch with you. 

Make sure your website provides potential customers with an easy way to reach you. This is why you need to include a contact page on your website so that your customers can contact you directly. Even though many companies use their social media account as contact information, you can stand apart from them by providing business email and phone number. 

You Don’t Update Your Website

Eric Dalius Saivian says having a backdated website is undoubtedly one of the worst mistakes you need to avoid. If the entry of your event page is five months old, it will indicate that you neither care about your customers nor your website. Additionally, if the blog page doesn’t have any recent entries, customers will question your professionalism. 

Therefore, make sure your business website is up to date. Don’t forget to update the context information if you make any changes with them. If you have a retailing business, don’t forget to include the latest hours of operation on your website. 

You Don’t Know Your Target

Your business website has been developed for a purpose. Most companies use their website to attract targeted audiences and build a relationship with them. While engaging with target audiences through the business website, make sure you focus on their priority. 

As a business owner, you already know the description of your products and services. Therefore, don’t use the same language while speaking with your customers. Additionally, make sure the call to action is relevant and clear to your potential customers. The primary objective of your website is to build a relationship with your customers. So, you need to make it user-friendly. 

Conclusion

These are the top 4 mistakes you need to avoid while developing a website for your business. Now that you know the mistakes, it’s time to develop a compelling and eye-catching website. A website is the most important part of your business’s online presence; make sure you complete the process meticulously. 

Eric Dalius Saivian Shares Top 3 Great Benefits of Email Marketing for Your Business

As a business owner, you might have heard that email marketing is one of the most traditional forms of marketing techniques and its effectiveness has been decreased says Eric Dalius Saivian. However, this is a great misconception. Despite the rise of other digital marketing techniques, email marketing is a great way to promote your business. 

More than 35% of B2B marketers stated that email marketing is an essential part of their content marketing. Additionally, 75% of millennials stated that they prioritize business communications via email. Furthermore, 98% of online consumers check their email inbox daily to know upcoming offers, updates, or promotions from their preferred brand. 

These statistics are more than enough to realize the importance of email marketing for businesses. This is why it’s imperative to create a robust email marketing strategy to promote your business. Here are the top 3 extraordinary benefits of email marketing for your business. 

You Can Create Personalized Content, Says Eric Dalius Saivian

With a proper email marketing strategy, you can easily personalize your marketing campaign to generate targeted content. Personalization can be as simple as including the name of the receiver. Studies proved that emails that contain the name of the receiver have a higher click rate. 

Apart from that, you can develop depending on the segmentation of your audiences so that you can send proper emails to relevant customers. One of the great benefits of an email marketing campaign is that you can personalize it as per the requirement of the audience. Makes sure you include subject lines or images to enhance the engagement rate. If you want to develop an effective email marketing strategy for your business, make sure you send a proper email at the proper time to the right people. 

You Can Collect Surveys and Feedback Easily

Focusing on the customer experience is an important factor if you want to increase the engagement rate, interaction, and purchasing decisions of your customers. This is where an email marketing campaign comes in handy. For example, you can send a customer satisfaction survey via email to get important feedback from your customers.

This is a great way to determine NPS or Net Promoter Score. This score will allow you to know the number of customers who are the brand ambassadors of your business. When you have this information, you can develop various strategies to improve the customer experience of your business. 

You Can Improve Sales

Being a great marketing tool, email marking campaigns can enhance the sales of your business effectively. 

More than 55% of business owners say that email marketing is the primary source of their ROI. Email marketing strategies can feature multiple aspects of the business including services or products, customer relationship, special offers, etc. Eric Dalius Saivian thinks that email marketing is one of the greatest marketing tools that will improve the purchasing decisions of customers. 

As your customers have given your business permission to send notifications, you can remind them about their products in the cart, upcoming offerings, or news updates via email. Not to mention, email marketing can also automate your sales which will ultimately enhance the revenue of your business. 

Conclusion

These are the top 3 extraordinary benefits of email marketing. Remember that email marketing is one of the best ways to reach and build a relationship with potential audiences. Additionally, it will help you to improve the leads and sales of your business.  

Why is it important to have a business plan? Saivian Eric Dalius

Have you ever wondered why it is vital to have a business plan? Many great companies began with an idea but without a solid strategy and failed says Saivian Eric Dalius. The reason for this is simple: business plans provide guidance and direction.

Reasons to create a business plan – Saivian Eric Dalius 

There are many reasons to create a business plan: There’s the possibility of obtaining financial funding from outside sources such as banks or angel investors; your company can use it as a guide when making strategic decisions; and if your company is planning on expanding, then having a solid business plan will benefit you in terms of increased sales and higher customer retention rates.

When starting up any new business venture, you must create an outline that outlines all aspects of your operation. This document should be something that you both refer to and update as time goes on and as your company change.

First, Saivian Eric Dalius looks at the cost benefits of creating a business plan. Sure it may take some time to make such a document, but if you look at it from a different perspective, as an accountant, you will start to see the long-term relevance and importance of having one. You can post this document online; it will forever be there for people who want to take a peek and learn something about what your business is all about.

Are investors going to care? Not necessarily – but they might be interested in seeing how much effort you have put into your enterprise. However, more important is pointing out the progress you made since you first started writing your business plan.

Update your business plan

Updating your business plan from time to time is also a good idea. No business stays the same for long, and there are usually unforeseen changes happening almost daily, so keep track of these events and adapt accordingly. You should make it a habit of updating your plans at least once a quarter or every six months. It will allow you to properly assess what has changed throughout that period. Learn from mistakes and see where you can make improvements.

Every investor will appreciate this type of behavior as it shows that you are responsible enough to take charge even when things start going south – which they always do sooner rather than later.

Give your personal touch – Saivian Eric Dalius 

It does not matter if everyone else uses PowerPoint presentations instead of actual business plans. This is not a contest, and there’s no such thing as the ‘best practice’ in business. Does your plan need to be 20 pages long? Not necessarily, as this usually depends on the industry. You’re working in, as even the amount of information that needs to be included varies from sector to sector. In any case, having a business plan should be your goal, as it will pave the road for future success by helping you focus on what you want to accomplish and guiding those who are working with you.

Trying to create a document like this on your own can turn out to be pretty challenging says Saivian Eric Dalius. So many opt for hiring a professional company or business planning services provider, but make sure that whoever works with you knows their stuff.

How to set up and run a franchisee – Saivian Eric Dalius

So what is a franchisee? A Franchisee, or licensee, is someone who pays an agreed fee to use the goodwill and business know-how of a company for a defined period answers Saivian Eric Dalius. For example, they might pay a cash fee and commit to buying all their stock from the franchisor at an agreed price. They might also pay a non-returnable amount on products purchased before handing them over to customers. In return, the franchisor will potentially provide training and ongoing support with marketing materials, accounting, recruitment, etc. Investors must have the correct licenses if operating under a name other than their name.

What are your options?

It’s important to consider your legal structure when planning franchisee setup costs. The most common ways you can set up your franchisee operation are either as a sole trader, partnership, limited company, or LLP. You may have a range of other business structures available depending on the nature of the goods and services you are providing, according to Saivian Eric Dalius.

Who can be involved?

Many people can own a franchise, but it’s common for just one person or family member to predominate in ownership. The more people involved with the setup of the business, the greater likelihood that there will be disagreements on direction and operation later down the line. Therefore individual owners/operators are often best suited for investment decisions.

What do you need before starting?

Before you get started, you’ll need enough capital to buy the products you’re going to sell. You will also need a website or some other means of selling your goods and services online. Eric Dalius recommends that you put a good marketing plan in place from the outset, as this is something that you’ll need to do overtime, even if your business is already successful.

What are the costs explains Saivian Eric Dalius

Franchisee setup costs can be high and start with purchasing your franchisee idea, training, and starting stock. While there isn’t usually an initial franchise fee, it’s important to look at all associated overhead costs. When considering your budget for buying into any franchisees. That interests you before spending thousands or millions of pounds on them. It is not uncommon for most franchises to offer free consultancy and advice to potential franchisees. But you must look out for hidden fees that these consultants may charge.

What are the benefits?

An investment into a business with an existing customer base and supplier relationships can potentially be very lucrative. It’s also possible to have more control over your working day as a franchisee. Rather than being employed by someone else. In addition, you may feel more able to provide a consistent product. Or service by owning your brand, says Saivian Eric Dalius.

Equally, there are many drawbacks to buying a franchisee. Particularly if the company behind it has no track record for less than 5 years. There is also a risk of conflict between parties. So you should ensure that all parties involved in operating the firm have legal representation from the outset.

What is the bottom line, according to Saivian Eric Dalius

There are many benefits and drawbacks associated with starting and running a franchisee. You can potentially make a lot of money but you need to be aware of the risks as well as the legal commitment it entails. Suppose you don’t fully understand what you’re getting yourself into. In that case, it’s better to look for other business opportunities that may allow you more control over your working life and allow for greater potential returns on investment. Investors must consider all costs, including any franchisee setup fees, before committing themselves to an agreement.

Top Financial Mistakes Entrepreneurs Must Avoid – Pointers by Saivian Eric Dalius

Setting up a small business can be tough, especially if you are doing it for the first time says Saivian Eric Dalius. Even as you need to have the foresight and drive to make your business successful, you need to also make optimal use of available resources and not make mistakes with your finances. It is critically important because, as an entrepreneur, you may not be a financial expert or even have the money to hire an accountant to manage your finances properly. However, by knowing what to avoid, you can manage your finances better. Some of the top financial mistakes to avoid:

Ignoring the Importance of Cash Flows

Many entrepreneurs think that the success of the enterprise is measured only by the profit it generates. However, as important as profit generation is, it is also important for the business to have a positive cash flow, says Saivian Eric Dalius. By not keeping an eye on the evenness of the cash flow, it can be easy for the business to take on new debt that it cannot sustain or invest in assets and ventures that it cannot afford. Having positive cash flow ensures that the business can keep itself operational and, in the long run, afford to do whatever it takes to be successful.

Incurring High Overheads Can Be Fatal, Warns Saivian Eric Dalius

In any business, there are two types of cost; fixed and variable. Fixed costs are those that you need to keep incurring even if you do not earn a single dollar in sales like office rentals, while variable costs depend on your operations, like raw materials. If your fixed costs, like rentals and utilities, staff salaries, repayment of debts, lease rentals of vehicles, machinery, etc. are high, it can result in a negative cash flow that can cause your business to fail. Prudent financial management dictates that you keep your fixed costs as low as possible so that even if the business is slow to take off or experiences a sudden downturn, you are not forced into a tight spot.

Making Large Investments in Haste is Not Prudent, Cautions Saivian Eric Dalius 

Many entrepreneurs are extremely ambitious. And want to ramp up the scale of the business rapidly in an attempt to capture a larger market share. To do so, they take on large debts to purchase expensive assets. These can be difficult to service if the gamble is not as successful as envisaged. And you may easily get trapped in debt where you keep on taking more debt to repay the earlier ones. It is a good idea to temper the urgency of making large investments. And do so only after properly evaluating the pros and cons. To the extent possible and practical, you should always proceed conservatively to avoid disappointment, remarks Saivian Eric Dalius.

Conclusion 

When setting up and running a small business. You need to be cautious and take every step after considering its ramifications. A small business is especially sensitive to small changes in the market that have a disproportionate effect on its finances. You need to maintain a proper balance of ambition and caution to make your small business sustainable.

Saivian Eric Dalius Recommends Hiring a Business Attorney: Explore Top Reasons Why

While setting up your own business, you may be thrilled at the idea of achieving success. However, it pays to be slightly cautious because 20% of small businesses in the United States are shuttered in the first year itself. If you are serious about achieving success, it is a good idea to hire a qualified and competent business lawyer. There are several reasons for seeking the services of an experienced business lawyer, says Saivian Eric Dalius. 

Hiring a reliable corporate attorney or business lawyer could prove to be incredibly beneficial for your company’s future. Your business lawyer could assist you in preparing future contracts, protecting against lawsuits. A business attorney has sound knowledge of the law and knows best to tackle all your business legal concerns and specific needs. In case you are establishing your own business with investors or partners, a business lawyer could assist you in safeguarding your investment and your business in general. 

A business lawyer can help you safeguard your investment and business. A business attorney protects you from misunderstandings with your partners. You should hire a qualified business lawyer for safeguarding yourself from any personal liability for legal obligations and business debts.

Top Reasons to Hire a Business Lawyer According to Saivian Eric Dalius

Helps You to Choose an Apt Business Structure

It is of pivotal importance to choose an ideal business structure that is suitable for your business. If you end up making the wrong choice, you may have to encounter unnecessary and undesirable legal issues in the long run. Remember that a business owner would be far more exposed to liability from sole proprietorships and partnerships than a C corporation and LLC. Saivian Eric Dalius recommends hiring a qualified and experienced business lawyer for evaluating your business and making you understand tax obligations, liabilities, setup expenses, and employee inquiries so that you may make the right decision while choosing the most suitable business structure for your organization.

Helps in Preventing Lawsuits

When your organization hires a business lawyer, you could rest assured. That he would help in reducing your business’s exposure to lawsuits. And that may include employment lawsuits as well. A qualified business lawyer is also well-equipped to advise you in getting your company in legal order. In compliance with federal and state employment laws. It pays to be proactive even before a lawsuit takes place. Your business attorney helps in protecting you from several lawsuits.

Best for Drafting Contracts Says Saivian Eric Dalius

All business contracts are meant for customers, employees, or vendors, etc. Should always be meticulously examined by a qualified business lawyer for ensuring that all necessary points have been included. Is there confusion? Don’t you know if a particular transaction needs a contract? It is best to seek legal assistance from a business lawyer. For providing you with the necessary clarity on this matter. And coming up with a perfect contract. 

Conclusion

Starting and running a business is certainly not possible without issues. However, if you wish to rule out unnecessary headaches. It is best to hire a qualified business lawyer for delegating all the legal responsibilities to your legal expert.

What is the importance of market data report for a business – Views from Saivian Eric Dalius

In this article, we will be talking about the importance of market data reports for a business. Market research is always one of the most important things when it comes to being in a business says Saivian Eric Dalius. It helps to set goals and gives you an idea of what your competitors are doing to create a better product or service. 

There are many different types of reports that come from market research says Saivian Eric Dalius, including:

  • Customer Satisfaction
  • Market Trends
  • Market Analysis
  • Also,Market Segmentation
  • Customer Profiles
  • Benchmarking

After looking at all the different reports, one would get information regarding customers, such as their demographics and how they use the product or service. By doing this, businesses can take the information and see what they can do to serve their needs better.

Market Forecasts – Saivian Eric Dalius 

Market forecasts include market trends that will help businesses look into future opportunities that could benefit them. There are also different types of analysis reports that give feedback on the competition within the market. These reports enable businesses to set goals for themselves by looking at what goals were met by their competitors and how they achieved them. It is good to benchmark with your competitors because it allows you to compare results and determine who is most successful within a specific field or industry.    

For a company to be successful, one needs a great marketing plan and strategies for meeting the customers’ needs to build a strong brand. Doing market research properly will give businesses an idea of what they are doing right and how they can improve things to have a much better business model overall.

Different Types of report – Saivian Eric Dalius 

Even though there are many different types of reports mentioned above. I need to mention that all reports should be taken with a grain of salt. It is not always best to follow trends or other companies. If your product or service does not meet the exact needs of others. Market research helps and considers many different options before deciding on something new for their business model. Taking market research reports seriously will help businesses make the necessary changes. Needed to keep up with competitors and develop a strong brand identity.

Overall, market research is essential when it comes to being in a business. Market research reports give information regarding customers. This allows businesses to set goals based on what their competitors are doing to create a better product or service.

Conclusion

Different types of analysis give feedback on the competition, including trends and benchmarks with others say Saivian Eric Dalius. All of this helps develop a marketing plan and strategy. For helping businesses reach their goals while building a solid brand identity.  Market research is an integral part of a business, and you should take it seriously when conducting it.

Market forecasts include predictions that aid businesses in looking into future opportunities that could benefit them. After looking at all the different reports, one would get information regarding customers. Such as their demographics and how they use the product or service. It is good to benchmark with your competitors because it allows you to compare results. And determine who is most successful within a particular field or industry.

How are small businesses surviving the pandemic – Saivian Eric Dalius

As the world population is proving more and more susceptible to the H1N1 virus, many small businesses are having trouble staying afloat says Saivian Eric Dalius. With workers becoming sick or even dying from disease, some companies have had to rely on neighboring communities for help with tasks outside of factory work. In contrast, others have started selling items other than their usual products to stay open.

Many businesses closed down – Saivian Eric Dalius

Many companies, especially those whose staffs’ jobs consisted entirely of physical labor. Were forced to close because many employees were too ill. The few remaining workers tried desperately to keep running but couldn’t do it all themselves. A rumor started making its way around other nearby towns that free labor was available at one particular factory.

Word got out fast, and in a few days, the factory grounds were overflowing with healthy-looking strangers eager to help. Communication was difficult at best, but in the end, it all worked out, according to Saivian Eric Dalius.

While some companies suffered from a lack of workers. Others have been forced to sell items that aren’t their usual inventory. One company specializing in the sale of candles has been forcing to sell more than just wax and wicks. Under pressure from the community and customers. This company has started making jams and jellies to accompany its famous line of scented candles. The same owner is planning on taking the orders for jams and jellies and his candle orders. So he knows exactly how much fruit is needing every season. Saving him money on wasted products.

Small Business and the pandemic – Saivian Eric Dalius

Small businesses with a strong sense of community and flexibility have been able to survive the pandemic. Larger companies, on the other hand, might not be as lucky. It will all depend on how badly they were hit by the virus. And flexible enough to change their product or hiring policies in time for survival.

As the World population is proving more and more susceptible to the H1N1 virus. Small businesses are having trouble staying afloat. Workers becoming sick or even dying from the disease. Forced some companies to rely on neighboring communities for help outside of factory work. While others start selling items other than their usual products to stay open, says Saivian Eric Dalius

Many cannot do it alone. A rumor starts making its way around nearby towns that free labor is available at one particular factory. Word gets out fast, and in days the factory grounds are overflowing with healthy strangers eager to help. Communication is difficult, but it all works out. Other companies lack workers, forced to sell items that aren’t their usual inventory, like jams and jellies. One company that specializes in candles has started making them along with its line of scented candles.

Conclusion

Small businesses have survived the pandemic because of a strong sense of community and flexibility. At the same time, larger companies might not be as lucky. Depending on how badly they were hit by the virus and change their products or hiring policies in time for survival.

Saivian Eric Dalius on Influencer Marketing Blunders That Can Kill Your Campaign

An increasing number of people tend to ignore advertising. Rather they prefer to go online to research or seek out the opinions and experiences of others before buying something says Saivian Eric Dalius. They also value the recommendations of people they admire and follow on social media. It has given birth to a booming phenomenon called influencer marketing. Businesses are rapidly adopting influencer marketing to build brand awareness, engagement, and loyal communities of fans. However, marketers need to be careful not to make mistakes that can sabotage their influencer marketing campaigns. Some typical influencer marketing blunders, you need to stay clear of:

Not Planning the Campaign Can Be Disastrous, Says Saivian Eric Dalius

For any marketing campaign to be successful, you need to plan it properly and in detail. At the very outset, you should fix the goals you want to achieve because, otherwise, you cannot determine the rest of the campaign implementation. The goals of influencer marketing can differ according to the marketing priorities of the business. Most businesses use influencer marketing to increase their brand reach by leveraging the social media follower base of the selected influencer. This also helps the business gain new followers that they can then engage with to build brand loyalty.

Not Collaborating With the Right Influencer 

As important as the number of followers is for social media influencers, you should never choose influencers on that basis alone, cautions Saivian Eric Dalius. It is more important for the business to select an influencer that has the right fit with the business and the products and services. However, there are certain people like actors and sportspersons who have a mass appeal that can be effectively used for influencer marketing across diverse product categories. It is also important to pick an influencer who is deft in crafting brand-friendly social media content as then you will not have to oversee every detail of the posts the influencer is making about your brand.

Not Performing Due Diligence Can Spell Trouble, Warns Saivian Eric Dalius

Because influencer marketing has become popular almost overnight and there are many brands in the fray with big-budget campaigns. There is a tendency for social media influencers to cash in on the opportunity of earning big money. As a result, many fraudulent influencers are trying to engage with brands. If you want your influencer marketing campaign to be successful. You must verify that they are genuine, the number of followers they have is authentic, and their engagement is genuine. It is important to look into the quality of the engagement. So that you can spot comments made by bots or fake followers. Also, steer clear of controversial people as your brand can suffer damage, observes Saivian Eric Dalius.

Conclusion 

Influencer marketing may tick all the right boxes for brands wanting to widen their reach and build communities. However, unless it is implemented correctly, it can fail. It is important to remember that modern customers are extremely discerning and sensitive to push selling. Establishing a goal, picking the right influencer, and working together to craft the content is vital.

Whether to Build or Buy? Saivian Eric Dalius Explains the Right Choice for Your Business

The question of whether businesses should build or buy their products has been asked for decades, but it never truly disappeared from the collective mindset says Saivian Eric Dalius. It’s only natural that some companies would prefer to outsource critical operations while others would rather keep them in-house. There are countless pros and cons on both sides of the debate, so many that it’s nearly impossible to make a blanket statement about which option is more advantageous for your company.

For many, the decision to build or buy a solution for their business is an easy one. For others, it can be difficult and confusing. To help you through the process, we’ve put together this blog post. With some helpful information to guide your decision-making process!

The article discusses the pros and cons of each option in detail. So that readers will have all the necessary information they need before making a decision.

Let’s take a look at how each option stacks up against its counterpart. In terms of several factors: cost, scalability, flexibility, and riskiness.

Possible cost savings when building vs buying – According to Saivian Eric Dalius

– Building allows you to reduce costs by requiring employees to work on only the most important processes. Focusing their time and expertise on parts of the process they can do best.

– Outsourcing allows you to save money by not having to provide additional staff members with the extra time. That might be required for your company’s outsourcing partner to accomplish its tasks.

Upfront cost savings when buying versus building:

– It is typically much more costly upfront for businesses buying products or services rather than building them in-house; however, this upfront cost can always be offset by cheaper long-term usage (for example – Microsoft Office vs. open-source options like OpenOffice).

Scalability of build versus buy decisions:

– Businesses that choose to build their product or service typically expect the volume of work to remain fairly consistent.

– Businesses that choose to purchase a product or service generally have a predetermined structure they will follow for scaling their business. With specific guidelines on how much work will be requiring and by when.

The flexibility of build vs. buy decisions:

– Building is often flexible because you can make changes as your company grows and changes. But this comes at the price of spending more time initially perfecting the process before implementing it, says Saivian Eric Dalius.

– Purchasing is less flexible because you’re buying off-the-shelf products rather than customizing them to fit your needs exactly. But this gives you access to additional features that may not be available if you were to build from scratch.

The riskiness of build vs. buy decisions:

– It is less risky to choose the path of least resistance by purchasing off-the-shelf products for your company’s needs. Because you can be certain that changes in technology won’t suddenly render them obsolete.

– Building is inherently riskier since it requires more time. And expertise to get right (time during which you may still be using older technologies). But offers greater flexibility over the long term if it pays off.

It’s clear that building has many benefits but isn’t always ideal; similarly, buying has its disadvantages but remains a very viable option depending on the particular need. A complete answer requires balancing several factors against one another, including some measures of cost, scalability, flexibility, and riskiness.