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When analyzing this area of management, we are concerned with several elements, such as: designing and controlling the process of production, and redesigning business operations in the production of goods or services.
We ensure all forms of communications and messages are carefully linked together. Integrating all the promotional tools, to allow them to work together.
A business infrastructure is a plan in which creates a road map on how to start and run your company. This method consists of daily operations, processes, and employees. Each component of the business infrastructure should be created and analyzed independently of the others.
We can create plans and steps assisting a company and/or individuals such as: better sale practices, how to sell products and/or services while adding value leading to increased profits.
A strategy developed by businesses to create awareness among the consumers about their product or service. As a result, this motivates them to purchase.
An advertising strategy encompasses two main components: information and persuasion.
Is an activity used by a business to introduce a new or changed product and/or service. This process may be utilized online or anywhere else. We tailor your campaigns to suit your consumer type.
We assist you with your online presence by making sure an individual or business can be found via online search. We look at creating or modifying websites, and social media channels assisting in SEO and SMO.
At Expand My Business, we aim to achieve and accomplish your goals! We are here to enhance your business, increase your sales, and guide you to adapt despite the current climate.
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Terminology & Definitions
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Gross Income is an intermediate earnings figure before deducting expenses. Net Income is the final amount of profit or loss after all costs are reconciled.
Return on Investment (ROI) measures the gain or loss generated on an investment relative to the amount of money invested. ROI is usually expressed as a percentage and is typically used for personal financial decisions, to compare a company's profitability, or to compare the efficiency of an advertising and marketing campaign and other types of business-related investments.
Assets are the items a company owns that can provide future economic benefit. Liabilities are what is owed to other parties. In short, assets bring money in, and liabilities take money out!
The difference between an Investment and an Expense is simple. Investments will start paying back. Expenses, on the other hand drain resources.
In retail, Point of Sale (POS) refers to the combination of hardware and software that make up modern cash registers. In the internet and texting slang, POS means parents over shoulder and functions as a warning not to say anything that could get a young user in trouble with their folks.
Standard Operating Procedure (SOP) is a set of step-by-step instructions compiled by an organization to help workers carry out complex routine operations. SOPs aim to achieve efficiency, quality output, and uniformity of performance while reducing miscommunication and failure to comply with industry regulations.
Cost of Goods Sold (COGS) is the direct costs of producing the goods sold by a company. The cost of goods sold is also referred to as "Cost of Sales." COGS are deducted from revenues (sales) to calculate gross profit and gross margin.
While they measure similar metrics, Gross Margin measures the percentage (or dollar amount) when comparing its cost to its sale price. In contrast, gross profit measures the percentage (or dollar amount) of profit from the product's sale.
Net Profit Margin is the percentage of revenue left after all expenses are deducted from sales. The measurement reveals the amount of profit that a business can extract from its total sales. The net sales part of the equation is gross sales minus all sales deductions, such as sales allowances.
The profit & Loss (P&L) statement is one of the three primary financial statements used to assess a company's performance and financial position. The two others are the balance sheet and the cash flow statement.
A Balance Sheet is a financial statement that reports a company's assets, liabilities, and shareholders' equity at a specific point in time and provides a basis for computing rates of return and evaluating its capital structure.
The Cash Flow Statement is a financial statement that provides aggregate data regarding all cash inflows a company receives from its ongoing operations and external investment sources. It also includes all cash outflows that pay for business activities and investments during a given period.
Rate of Return (ROR) is the net gain or loss on an investment over a specified time period, expressed as a percentage of the investment's initial cost. Gains on investments are defined as income received, and any capital gains realized on the investment sale.
Accrual and Deferral are accounting adjustment entries where there is a time lag in the reporting and realization of income and expense. Accrual occurs before payment or a receipt, and Deferral occurs after a payment or a receipt. These are generally related to revenue and expenditure.
The Administration of a business includes the performance or management of business operations and decision-making and the efficient organization of people and other resources to direct activities towards common goals and objectives.
Business Operations Management is an area of management concerned with designing and controlling the process of production and redesigning business operations in the production of goods or services.
Cost-Effective is a good value, where the benefits and usage are worth at least what is paid for them.
Advertising is making a product and service known to an audience or marketplace. Marketing refers to preparing a product for the marketplace. Marketing is both research and practice, while advertising is straight practice.
An Advertising Campaign is a series of advertisement messages that share a single idea and theme which make up an integrated marketing communication (IMC). Advertising campaigns utilize diverse media channels over a particular time frame and target identified audiences.
Lead Generation is the process of attracting and converting strangers and prospects into someone who has indicated an interest in your company's product or service.
Sales strategies are typically developed by a company's administration and its sales, marketing, and advertising managers.
Customer Relationship Management (CRM) is the combination of practices, strategies, and technologies that companies use to manage and analyze customer interactions and data throughout the customer life cycle to improve customer service relationships and assist in customer retention and driving sales.
Customer Profiling is a snapshot of your current customer base. Your customers are separated into groups sharing similar goals and characteristics and given a score. The outcome is a detailed data analysis of your exact customer type, giving you the upper hand in better understand who will be more likely to purchase your services.
A Sales Lead is a person or business who may eventually become a client. Sales lead also refers to the data that identifies an entity as a potential buyer of a product or service. Businesses gain access to sales leads through advertising, trade shows, direct mailings, third parties, and other marketing efforts.
A Qualified Lead is a prospect or business interested in a firm’s product or service and is being funneled into becoming a customer. This is based on the previous customers' profile type, criteria, and identifying information that has been freely provided.
A Funnel is also known as a sales process or a revenue funnel. It refers to the purchasing process that businesses lead their customers & potential customers to buy products or services.
A Digital Footprint is a trail of data that's gathered when an individual is using the Internet. It includes the websites that are visit, emails sent, and information that has been submitted to online services.
Direct Target Marketing is a method in which firms can market directly to their customers' needs and wants. It focuses on your customers' spending habits, their potential interests.
Copywriting is the act or occupation of writing for advertising or other forms of marketing. The product, called copy, is written content that aims to increase brand awareness and ultimately persuade a person or group to take a particular action.
A flyer is usually a single, unfolded printed sheet used to draw attention to an event, service, product, or idea. A flyer usually contains a straightforward message that's conveyed quickly.
Mailing is a batch of mail sent at one time to multiple addressees by a sender for promotional purposes in the form of letters, catalogs, or monthly statements.
Opt-in Email is a web marketing term for Email that recipients have previously requested by signing up at a website or special ad banner. The distribution model of sending unsolicited email (spam), and allowing the recipient to request removal, often referred to as "opt-out."
Opt-out is the same as someone who has unsubscribed. This means that the recipient has elected to remove themselves from your contact list and no longer wishes to receive correspondence from you.
Spam, also referred to as junk email, is unsolicited messages sent in bulk by email (spamming). Spammers collect email addresses from chat rooms, websites, customer lists, newsgroups, and viruses that harvest users' address books.
Constant Contact is an online marketing company offering email marketing, social media marketing, online survey, event marketing, digital storefronts, and local deals tools, primarily to small businesses, nonprofit organizations, and membership associations.
Web Content refers to the textual, aural, or visual content published on a website. Content relates to any creative element, text, applications, images, archived e-mail messages, data, e-services, audio and video files, and so on. Web content is the key behind traffic generation to websites.
Search Engines are programs that index and then search documents for specified keywords. The engine then provides a list of results that best match what the user is trying to find.
Search Engine Optimization is a methodology of strategies, techniques, and tactics used to increase the number of visitors (traffic) to a website by obtaining a high-ranking placement in the search results page of a search engine (SERP). Examples; Google, Bing, Yahoo, and other search engines.
Search Engine Results Pages (SERP) are the pages displayed by search engines in response to a user's query. The SERP's main component is the listing of returned results by the search engine in response to a keyword query, although the pages may also contain other results such as advertisements.
Social Media Optimization (SMO) is the process of increasing the awareness of a product, brand, or event by using social media outlets and communities to generate viral publicity. SMO is similar to SEO (search engine optimization) in that the goal is to drive traffic to your Web site. Examples; Facebook, Instagram, Twitter, YouTube, and other social media platforms.