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Business

How to Use Instagram for Retail Businesses

With 1 billion active users per month, Instagram has proven to be a great platform to market your products. In addition, it helps businesses grow their brand and boost sales with their online presence. Whether you sell clothing, accessories, books, or electronics, your products should add value to your customers’ lives.

However, the art of influencing your customers can take your business to the next level! Instagram has made it easier for retail businesses to build trust and maintain a relationship with their customers. In this article, we will explain to you how your business account on Instagram can help you run your business successfully.

Using Instagram for Retail Businesses

We have compiled a list of ways to make use of Instagram to implement your marketing strategies for selling products online:

Create a Business Account

While Instagram allows its users to create an account of two different types, you should go for a business account. If you already have a personal account, then it is best to switch to a business account by visiting your Settings.

Know Your Target Audience

First, you need to map out your target audience’s preferences and interests to see if they align with the products offered by your business. Next, evaluate the needs of your existing followers to figure out trends and patterns of your audience.

Defining your audience on Instagram is a simple and easy process. Visit Insights to understand where your followers are coming from. Plus, it allows you to assess your brand’s performance by reviewing your audience’s engagement on your Instagram posts.

Once you know your audience’s age, location, gender, and even their active hours on Instagram, you can use these metrics to target potential customers for selling your products. You can also conduct a demographic survey, as it will generate responses containing all the information you need to understand your customers on a deeper level. You can include the following questions in your surveys:

  • What do you do for a living?
  • What is your marital status?
  • What is your total household income?
  • What is your qualification?
  • What is your monthly income?
  • How much are you willing to pay for specific products?

To encourage your customers to fill out the survey, you can host a contest or a giveaway in exchange for their responses.

Turn Your Instagram Feed into a Shop

Now that you have a clear idea about your audience, it’s time to transform your existing Instagram feed into a shoppable feature. With Instagram Shopping, you can put your product catalog along with the pricing on your Instagram account.

Additionally, it allows you to add a maximum of 5 tags on each post with your product. So, even if your followers are scrolling through their Instagram news feed and your product post appears on their screens, all they need to do is tap the View Products icon on the bottom left corner of your post. It will display the product’s name, price, and description. Upon tapping the post again, it will direct the viewers to your brand’s Instagram store containing all your products.

If you are facing troubleshooting issues with your internet connection while uploading your product posts on Instagram, reach out to HughesNet servicio al cliente.

Add Stories Regularly

Posting Instagram stories can help you gauge your audience’s attention. You can make use of this feature to share behind the scenes of your products’ photoshoots, screenshots of your customer reviews, video tutorials on how to use your products, and even highlights of how your products are being prepared for delivery.

To make them appear aesthetically appealing, stick to a color scheme for your Instagram stories and posts. Make sure you don’t go overboard with filters, as they can make or break the quality of your photos and videos. Moreover, your content should match your brand’s signature style so that your audience could identify your posts among the rest of the brand profiles on Instagram.

To upload your content on time, get connected to HughesNet internet. It delivers just the right speeds for businesses to update their Instagram accounts and respond to their customers’ queries on time.

Wrapping Up

Instagram works wonders in enhancing a business’s online visibility. If you are running a retail business, you can improve your sales by following our expert advice listed above. With the right planning, you can achieve your business goals in no time!

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Business

The Best Alternative For Paying Employees In Any Business

According to law, every business has to pay their employees properly. Because those payments are what they use for their livelihood. But sometimes, there will be delays in the payments for 15 to 90 days when the business owners don’t receive their payments according to the payroll cycle. In such cases, payroll factoring comes into action.

For businesses having outstanding invoices for more than 30 to 120 days, this technique helps in generating earlier cash flow. In this process, the invoice will be transferred from the main business to the third-party factoring company.

Types of payroll factoring available

There are basically two types of payroll factoring methods depending on the type of funding the business needs.

1.   Money only factoring

In this method, only money will be transferred into their accounts as per the requirement.

2.   Full-Service Factoring

In this type, along with money, there will be the provision of full services like printing the invoices, paying and filing the taxes, Filing quarterly and annual tax returns, and many more.

Advantages of factoring:

  • There will be a possibility of paying the invoices without waiting for the money to come to the business directly.
  • As there is a better cash flow, there are more chances for the business also to survive for more time.
  • This method of payroll factoring is cheaper than any bank loan and is also very easy to obtain. If the size of the customers for that business is more, then they can save a lot of money.
  • There will be an increase in the morale of the people working with the company as their payments are always on time.

Disadvantages of factoring

  • They are not for businesses that don’t have many customers.
  • This is a big business decision as many factoring companies will want a long-term deal with the business owners.
  • If the customers are risky, the factoring companies will charge high fees.
  • If there are scenarios when the clients fail to pay, then the client might have to pay more as an extra payment for the late fees.
  • This can sometimes harm the relationships of the business with their customers because of the unforeseen problems with the payments.

Payment Options available in this factoring

There are many ways people can opt for payment methods in payroll factoring.

  • The business owners can continue paying their clients once the lending company sends the required amount to their accounts.
  • The Business owners will only handle the filing and paying of taxes as well.
  • In some cases, the lending company can issue payments directly to the employees either by paying through physical checks or by depositing a payroll card which will work similarly to a debit card.

Conclusion

Because of this method, businesses can stay even though there is a lack in their finances. There is an option to borrow only the required amount of money, instead of waiting for the clients to pay back. This will be beneficial to any business having either full-time or part-time employees. This is a great way to save their savings in the initial stages when there is some delay in the payments from their customers.

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Business

Beginners guide to algorithmic trading options in Belgium

Algorithmic trading is the automated management of trade orders by computer algorithms. You can use it across all traditional financial instruments, including equities, foreign exchange, futures and options.

The term covers both what is known as algo-trading (the algorithmic execution of pre-programmed trading instructions without human intervention) and trading to access electronically supplied markets.

What is algorithmic trading?

Algorithmic trading is a type of automated trading that uses advanced mathematical models to predict the production of a security over a certain period. In other words, it means using powerful computers and complex algorithms to make quick financial transactions.

An algorithm is defined as precise instructions for completing a task. Many people are familiar with them in regards to tech or science fields.

Algorithmic trading strategies are the same; only they involve buying and selling stocks through computer programs based on data analysis.

The goal is to achieve greater returns than what would be completed by simply buying and holding securities based on traditional means of “active investing”.

The simplest definition for algorithmic trading options is that it just involves using applications that automatically follow algorithms while making decisions about transactions.

Automating trades can help cut costs associated with manually executing them while also increasing the chance of success due to faster reaction times being able to jump on new opportunities before they pass.

Many people have heard about algorithmic trading. It’s been receiving more and more media attention in recent years as it diminishes the effects of human error on the markets and large institutions buying up smaller companies.

Therefore, let’s look at what we can expect from algorithmic trading options in Belgium.

One of the biggest reasons for a massive increase in algorithmic trading options is that it has been given a level playing field for investors regardless of wealth.

The old school method was to have a lot of money, and then you could use this as leverage to make trades pre-computer days. Nowadays, it’s as easy as filling out an online form, providing your bank account information and hitting submit.

It has opened up possibilities for those who may not have been able to take advantage before by increasing competition levels across the board, which benefits everyone involved through increased liquidity and other effects positive towards market health.

Learning the basics

If you want to make money by dealing in options, you should learn its basics.

This is because these types of financial instruments have high-profit rates, and they are traded on simple rules that do not require much knowledge to be understood.

Trading options without limit on assets

As well as the Forex market, the stock market has an option where anyone can invest their money into stocks or commodities through buying or selling using their investment objectives.

It’s just one type of investment that any person can make because it’s easy to access with little capital.

The investor buys shares at a specific price and then sells them back with the same price or even less.

It’s called ‘ Sell ‘. While buying a certain number of shares at a higher price and selling it back for less is known as a call option where you have the right to purchase the stocks.

Strike price

They are contractual agreements between two parties known as the buyer and seller where the price of a sold asset will be executed when predetermined conditions are met.

Through this, they can protect themselves in case of their loss in investing money, allowing them to take precautionary measures or even if they gain it brings less profit for them since the price of the goods has already been determined before buying.

Call option and put option

A call option gives its buyer the prerogative but not the responsibility to purchase an asset (underlying stock) at a preset price (the strike price).

A put option is the opposite: It gives its buyer the advantage but not the commitment to trade an asset at a preset price. The most popular options trades are called a “split-fee trade.”

 This type of trade lets investors who don’t want to commit their money for long periods receive the same benefits as investors who save their money for long periods.

Link to Saxo for more information.

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Business

Check out these steps in starting your small business

Starting a business involves a lot of planning, completing some legal activities. And also making key financial decisions. It may not be easy to start a new business, it can be complicated and overwhelming for first-time entrepreneurs. Yet, some steps are available that will guide you through. As there is no restriction on who can become a great entrepreneur. You don’t need to have lots of money or even business experience.

You need to have a solid plan and useful reference. Starting a business needs understanding since you’ll be dealing with a lot of things. You need to juggle financing sales, legal, and marketing. Also, about liability protection, intellectual property protection, human resources, and many more. Below are some steps that will help you through.

Basic Steps on starting a small business:

  1. Identify a business idea

Looking for a business idea is something you can approach by depending on time-tested approaches. That has worked for other entrepreneurs, whether you’re looking to start a low-investment idea. Or if you prefer to go all-in, the great way is to look for a product to sell. That refers to either existing products, trends, or based on your interests.

  1. Confirm your business idea

Take note that you only need one idea to start. A lot of successful companies established a signature product. And extended into complementary goods from there. Authenticating your small business might be complicated, yet it’s a matter of testing. Below are some examples that aid to identify how to gauge market demand.

  • Set up a store to cater to pre-orders
  • Establish a crowdfunding campaign
  • Make a beta of your service or product to sell

  1. Develop a Business Plan

A business plan is known to be a living document that maps the information of your business. Writing a business plan aids to formalize your idea. It covers the following:

  • What your business will sell?
  • How the company will be designed?
  • What the market looks like?
  • How do you plan to sell your service or product?
  • What funding you’ll need and your financial projections
  • Which documentation, leases, permits needed

  1. Choose the structure of your small business

Selecting the right business is about balancing. Particularly, the financial and legal protection you need with flexibility. Your small business can either be a partnership, sole proprietorship, a corporation, or a limited liability company (LLC).

  1. Get Permits and Licenses

Once you begin your small business, paperwork is a part of the process. Your business is subject is to laws, regulations, and local laws particular to your industry.

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