Increase your Business Profit through Social Media. The primary of objective of businesses is to create wealth, and that is why businesses sell a product or provide a service for a fee.
One sure way to attract clients is by advertising but advertising as we know is expensive and very demanding i.e. you have to pay heavily if you want a prime time slot or you have to pay 3rd parties for the advert itself and then the advert agency for the advert proper. This is a somewhat cumbersome process but businesses have used to this old trend. Now enter the new trend, the world of social media, web 2.0, user generated content, free advertisement, and unique platform to communicate with your clients and potential customers. These are feats you could never attain with the old trend without spending millions of dollars. How to Get Business Profit Through Social Media I will not attempt to define the term social media because all over the net there exist good explanations of it, but I will simply say that Social Media is the people’s media. 1.
Domino's UK Social Media Initiatives Help Increase Profits by 29% According to Domino's UK financial earnings report, the company has increased its pre-tax profit by nearly 29%, which equates to roughly $26 million. The UK pizza retailer attributes social media initiatives and its Foursquare promotion for the gains. In the earnings statement, CEO Chris Moore points to the rise in online orders — which now account for 32.7% of all orders — as proof that their web and social media efforts are paying off. Moore reports that when it comes to the web, "Our main Facebook site now has in excess of 36,000 fans ...
In addition, we have led the way with social media initiatives such as affiliate marketing, our superfans programme and the development of a link up with Foursquare. " Moore concludes that, "all of these web-based activities offer a dual benefit of driving pizza sales online and building customer loyalty. " You may recall that the Foursquare promotion rewards mayors of UK stores with free pizza; other patrons who check-in receive a free side dish. IT Alignment with Business Can Improve Profitability. Want to get more out of your IT group?
Get them aligned to your business. Sounds too easy, right? Improve profitability through information technology. June 13, 2010 Information technology can be an effective way to make your company more productive and profitable -- especially if you're competing with low-wage countries like China and India.
Whether it's integrating your processes, enhancing your marketing abilities with a customer database, better managing receivables or improving supply chain management, the right technology can dramatically improve how you run your business. Although it sometimes requires a significant investment, the long-term advantages usually far outweigh the initial costs. The Impact of IT Investments on Profits. New research finds that investments companies make in information technology increase profitability more than investments in advertising or R&D do.
CEOs often struggle with some critical choices as they allocate their companies’ discretionary dollars among various categories of investments. Should they invest more in IT than in, say, advertising or research and development? And when they do invest in IT, what kinds of projects should they focus on? A recent study we conducted offers some insight on such questions. Although several earlier studies by other researchers had not detected a significant effect of IT investments on profitability, we found that more recent information technologies — those deployed since 1995 — have a significant positive impact on profitability.
What’s more, we found something very surprising: Investment in IT had a greater impact on a company’s profits than comparable spending on either advertising or R&D. Related Research S. Using IT to Increase Profitability and Productivity in the CPI. Back to CAST Meetings and Conferences American Institute of Chemical Engineers 2003 Spring National Meeting March 30 - April 3, 2003 New Orleans, Louisiana A topical conference is being offered in Information Technology (IT) that combines cutting edge developments in IT with applications in the chemical, petroleum, pharmaceutical, food, paper, textile, forest products, and other chemical process industries. Www.aiche.org/conferences/spring/ IT veterans as well as people new to IT in the CPI are invited to participate and to submit for consideration their Proposals to Present on the AIChE Web site at: www.aiche.org/springapp/ Accepted presentations will be published in the conference proceedings.
For additional information, please contact: Dennis Griffith Granherne, Inc. 8444 Winningham Houston, Texas 77055-7532 Work: 281-575-4582 Fax: 281-575-4515 dennis.griffith@granherne.com Home: dennisgriffith@pdq.net. Increase productivity and profitability with mobile technology. The demand for access to business information and applications through mobile technologies such as the Apple iPhone and iPad, devices running Google Android and Windows 7 Mobile or using RIM Blackberry is surging as consumer preferences and behavior spill over into the business workforce.
The massive growth of adoption of these technologies around the world has many business managers wondering how to effectively position their firms to benefit from the trend. The drive for mobility is part of the business technology agenda for most companies today. Obviously, however, in a business rather than personal context, more types and complexity of information are needed, ranging from access to documents and presentations, to status on initiatives and processes, and for specific application needs to perform various business intelligence functions. Mobile technology allows people to use company data and resources without being tied to a single location. Networking / Communication.