Are Payday Loans Really Such A Bad Thing?

Payday loans or cash advance loans serve a specific purpose and as long as they are used for what they where intended to, they can be an excellent financial tool. The main reason why payday loans are considered to be too dangerous is the problem they cause when they are used for other purposes than what they where meant for. When used as a substitute for regular financial loan products, the high interest rates charged make it very easy to get into serious difficulty and ultimately result in the borrower being unable to repay the original loan amount or the interest. This situation normally leads to the borrower going into default and having to then deal with legal fees on top of the loan debt.Very high interest rates
Payday loans do carry higher than normal interest rates and fees. However, when taken against the background of limited or no credit checks and the general risk profile of the borrower, they actually offer a reasonable value for money.The risk that the lender is taking is considerably higher than other lenders that offer loans that require stringent approval criteria and income verifications.Put simply, the lender is entering into an agreement with little or no comfort that the loan will ever be repaid or not. To compensate for loses that he undoubtedly incurs as a result of this practice, the lender needs to charge much higher rates of interest in order to make his business profitable. At the end of the day all lenders are in business to make a profit and if they aren’t they wont be around for very long.What purpose do these loans have? Once again, as long as these loans are entered into with adequate knowledge and are used for what they where meant for, there is no risk of getting caught into a vicious circle of debt. When you look at the facts and ignore all the urban legends that surround these types of loans you will see that they can and do represent fair value for the risk taken.It’s like that old adage about a bad workman blaming his tools. The tool itself is not at fault, it’s almost always the user of the tool trying to blame an inanimate object for their own failure. It’s the easy way to save face. It would be the same as trying to use a mortgage to finance a vehicle purchase over 25 years. The wrong tool for the wrong purpose.The root of all evil?So, to recap, payday loans should only be used for emergency situations. If you have the time and credit rating to qualify for another source of finances, you should. Only if you need some cash for an emergency to cope with some unexpected expense should you apply for a payday loan.When the loan is fully paid off, don’t make a habit of resorting to them every time you need money. Try and get money through other means before resorting to a payday loan. You need to remember what they are meant for and that their costs are high enough to only use them on the odd occasion.The increase in household debt is becoming a serious problem all around the world as we chase the material possessions that we can’t wait to save for, but blaming the increase in debt on the financial market for offering payday loans is as wrong as it is stupid. Now is the time to take responsibility for your financial situation and not blame the financial products for all our errors. All financial loans are there to be used with discretion, and a full understanding of the terms and conditions that are connected to them. Ignorance is not an excuse.

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Digital Marketing – Formulating A Daily Deals Plan

Daily deals can be a powerful way of building your business, and should be included in all digital marketing campaigns, especially local mixes. However, before going forward with a daily deals programme, small and medium businesses (SMBs) should formulate a clearly defined plan.1. Check inventory and capacity: Make sure that your company is ready to handle an onslaught of eager new customers. Negotiate with the deal provider for a ‘cap’ on the number of digital marketing offers that can be redeemed, and ensure a fixed time period for redemptions.2. Pricing of products: Today’s customers are very search-savvy. Do not try the old trick of raising prices just prior to offering a digital marketing discount, as you are sure to be caught out if customers check up on prices. Recently, FTD miffed customers who purchased a digital marketing coupon on Groupon, when buyers noticed that flowers on its main campaign website were priced lower.3. Create a retention plan: If you are getting a high volume of customers through your Internet marketing special offers, create a plan on how to gain repeated business from them once they make their first purchase. You cannot keep eroding your profit margins by continuously offering discounted deals.If a small business wishes to use daily deals as part of their digital marketing programme, they should begin planning for their post-deal customer relationship from the beginning. This means thinking about loyalty programmes, refer-a-friend deals, combination offers and so on. One strategy that is commonly recommended by Internet marketing professionals is an email programme, which encourages new people to enter their contact details in a sign up form, in return for a special offer for their next purchase.Another digital marketing tactic that can be useful is’s ‘Social Select’ deals through which you can reward your best customers with special private deals. These deals are given at the point-of-purchase, and usually provide useful discounts that can be used on the customer’s next visit. Companies should work to harness customer relationships through various loyalty tactics, and get them to come back repeatedly.The bottom line is that while daily deals may work well to drive the right type of audiences to your stores, businesses (SMBs/dealer networks) need to carefully mark out where daily deals fit in with their Internet marketing strategy. Online daily deals can help build lasting customer relationships, so start by planning now.

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Traffic – Your Online Business Needs This to Make Money

Every successful online business needs a steady gush of customers to visit the store front, no different from real life businesses, if they wish to successfully make money.In real life a shop that offers to sell a real one dollar note for fifty cents will sell out in one minute flat. In the Internet world an Internet business doing exactly this same thing may unbelievably flop, just simply because of no traffic.Since traffic is so crucial to make money, how to get traffic?The website is the Internet business’ store front. A feature of Internet business that is different from real life business is this.In real life business a prerequisite to make money is you set up shop in a prime location of your choice. In the Internet world the search engines decide for you the location of your Internet business web store.If it feels that an Internet business store contains what customers are looking for it puts the store in the best spot in the city shopping arcades. If not, they place the Internet business store in the woods, the equivalent of page 2,567,876 on the search page!Search engines look favorably on online business websites that are filled with abundant relevant content and with proper keywords. The best online business websites that make money are those that adhere to this fundamental principle. To rank well is the first requirement to make money online.The keywords need to be placed in the titles and the Internet business website needs to have different customized pages which show up in response to the specific search phrases. In addition, the content should be such which adds value to the reader. It should not be boring and should have images and videos present to make them visually appealing.Free SEO products are abundantly available on the Internet. Online business owners can use them to improve text and web page performance and also for finding the proper keywords. To succeed to make money online business owners can aim for their Internet business store front to be placed in the heart of the best shopping districts in the Internet world.Once an online business has succeeded in attracting traffic to visit the web store, another action is important before an Internet business can succeed to make money.The visitors must come back again and again.Visitors to the Internet business must like what they find in the online business store and ideally also buy something. Visitors must buy then the online business can make money. But as quite a large number of purchases are not done at first sight, it is very important that they must come back again to view.Return visitors is a contributing factor in increasing conversion rate. By conversion one means visitors to an online business who are getting converted to customers by clicking on the various “call to action” links or buttons present on the website. This is how an online business succeeds to make money.So how to get your online business visitors to return for a second look?When a visitor leaves an Internet business web store it is small chance that he will on his own come back for another look, simply because there are so many distracting web stores out there. And even if your Internet business store is right on Page 1 of the search engine, he may not remember what word he keyed in that brought him to your site. More visitors don’t come back means lost opportunities to make money.The best successful online business websites that make money online besides generating web traffic instantaneously also provide the visitors with the contact details as well as provide personalized attention. A successful online business will have a website that builds a relationship with the loyal and profitable customers through email newsletters.If you are still not able to make money like those successful Internet Kings and Queens, chances are, what you have learned so far, are only pieces to a puzzle. Over the years I’ve compiled a library of secret tricks and unconventional methods that many Internet royalty use to conquer the Internet – just one secret tip is enough to send huge loads of checks into your inbox right this instant.Aspiring successful online business owners must aim to acquire a repertoire of traffic harnessing skills, in as short a time frame as is possible.

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Alternative Financing For Home Purchase

Many people have been experiencing difficulties in obtaining loans. It is not a surprise since the whole mortgage industry is on a credit crunch. All lenders are limiting loan approvals and mortgage requirements are getting severe. Because of this, it has made many unqualified borrowers in the industry.If this were to continue, more and more people would have a hard time pursuing home ownership. Almost all people are depending on conventional loans for home buying and their only chance to afford the purchase is being hindered by something out of their control.The good news is people have found other means to mobilize their home buying deals without having to apply for conventional loans. Even people with poor credit can buy a house when engaging to this option. This method is known as Alternative Financing.Alternative financing has had growing popularity in the market. While you may not be aware of this, it has been going on for quite some time. Alternative financing have many faces. If you want to learn more about them, the following will give you an idea on what it is all about:1. Seller Financing- In this financing, sellers take in a portion or the whole amount of financing for the buyer. It is also known as owner carry back. In here, the seller acts as a lender. Buyers will give the payment for financing directly to them. It is also the seller and the buyer who will discuss the terms of financing and it can even be tailor-fitted to the buyer.2. Lease/Rent to own- There are sellers who offer to sell their homes after a specific period of renting. However, the amount of rent or lease may be quite expensive compared to the usual price because a portion of what you are paying will be used as part of the payment in purchasing the house. This is what rent or lease to own financing is all about.3. Assuming of Loans- This is a kind of financing where the buyer can take over the existing loan of the seller. Generally, the buyer would have to pay back the seller for some or whole of their equity and the rest of the purchase price will be taken cared of through other means of financing. This is a faster way to pay up a loan. Moreover, if you have troubles with credit, you may be in luck to purchase a home through non-qualifying assumptions.4. Zero Down payment Loans- As the name implies, in this financing you do not have to worry about shelling out money for down payment. Although not advisable, but if you really are having problems with coming up with a typical 20% down payment, then this should be your option. If you want to avail of this option, you may have to contact your local banks about it.So, if you really want to purchase a new home and you just have a hard time coming up with the money or getting qualified with conventional loans, this is your solution. Alternative financing makes it possible for you. Just do not forget to weigh the advantages and disadvantages of every option, so as not to get into financial troubles in the future.

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Advertising: Art, Science and More

“Advertising is based on one thing: happiness. And do you know what happiness is? Happiness is the smell of a new car. It’s freedom from fear. It’s a billboard on the side of a road that screams with reassurance that whatever you’re doing is OK. You are OK.”The above lines from the Mad Men could be a timeless classic in beautifully expressing the essence of advertising. Advertising is indeed all about happiness, of being assured, of being worth it, of being taken care of, of being valued and of being loved.Love of AdvertisingAsk any advertiser, what do they love about a job where work hours a tiresomely long and the pressure to come up with new ideas consistently, is high? Whether or not they answer you, their answer would invariably come to rest on one thing – the thrill of creating something which could affect the minds of many.Like the gloriously heady concept of ‘Dream within a dream’ in the movie inception, the power to affect the minds of others through your art and witticism, is a great one. It is not hard to miss for most advertisers.Art of Advertising Also, all advertisers are essentially artists who use their art for a purpose. There is no greater happiness than being able to express yourself through your art and getting paid for it, maybe even obscenely (yes but only if your ‘art’ is loved equally well by others, that is).Being allowed to be able to be an artist for a career and not be a starving one at that (in fact quite the opposite) is what draws many talented people to advertising and also keeps many working in this line of work despite everything.Science of AdvertisingAny ad concept or a campaign is well researched before coming into picture. This research could be quite in depth and intricate which is directly proportional to the budget of the ad and the stakes involved.The science of advertising is the complete planning which takes place before an ad comes in front of the audience. There is market research, target audience’s psychology analysis, decisions with regard to place, product, pricing, packaging and people, understanding of the client’s needs and goals plus so much more.It is only by a proper understanding of the science of advertising that the ad creative’s are briefed accordingly to take over the next step.People in AdvertisingThere are several different kinds of people who work in advertising – right from ad visualizers to copywriters to filmmakers to graphic designers to art directors. Each has their own specific role in the advertising ecosystem like an ad director is responsible for how an ad will look like in terms of its visual appeal and a copywriter will be responsible for writing the content for the ad.Advertising also has its set of mangers and client servicing people who may or may not be involved in the creative process. Normally the ad world creative’s are known to be wild and woolly, bratty and sentimental, poised and wild, simple and complicated, normal and crazy and what-have-you, usually all together in one person.The people in ad world are generally quite liberal in values and open minded as compared to people in other industries.Atmosphere at an Ad AgencyMost of the times, an ad agency that you may work at may have quite a chilled out environment. Clothing could be casual on all days (not for the managers and client servicing people though) and more than average make up, revealing clothes, torn clothes etc may all be okay as long as you are producing good work.Drinks may be easily available and most people won’t mind you smoking. There may be some game room or some games handy that you probably will never have the time to play. Every day may seem to be like a high pressure party where you must keep working too hard to stay.Architecture and Interiors of an Ad agencyAn ad agency may have one of the most interesting architecture or creative decors. With over sized human dolls, interesting paintings on the wall, makeshift furniture, crazy curtains, cool office stationary, spray paintings, swear words, collages or other messages on the walls and what think you, things certainly feel quite crazy and creative in an ad agency.One surely cannot comprehend what these creative’s may fancy next and which may form a part of the decor. Things present in an ad agency may spell creativity out loud and make a creative person feel amply at home in their imaginative world.The architecture may be equally interesting with completely round buildings, differently shaped ones or even a fusion of architectural styles.New age advertising With the advent of technology, advertising too has moved up the quarters. No more is the ad must sitting in the print or even in the television commercial. Today we find advertising having taken over the short message service (SMS) and OBBD in the phones, social media networks like Facebook, Twitter and LinkedIn, websites like YouTube and blogs with any content worth their salt. Advertisers make sure that anywhere there is human presence; there must be ads to call them to action.Criticism of Advertising And like all good things, the field of advertising has had its share of criticism too, chiefly among these, is that it is a field which makes money by fooling people.While good advertising never writes lies but the whole profession of advertising works on highlighting the good. Sometimes it might happen that the good gets highlighted so much that it may make the consumer blind to other aspects which could be detrimental to them. In any case, too much of even a good thing is harmful.Hence instead of blaming the sunshine happy field of advertising, it is the consumers who must exercise their own caution while selecting a product and learn to read between the lines.

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Yahoo Small Business – The Many Benefits

When a person starts a small business, there are many preparations to be made to ensure the overall success of the business. Some of these preparations include setting up a webpage, developing a domain, implementing emails for the business, getting internet access that is appropriate to the needs of your business, as well as developing a marketing strategy. If you implement the use of Yahoo Small Business, you can get all of this and more! In this article, you will be introduced to a number of benefits when it comes to using Yahoo Small Business.One of the main benefits of using Yahoo to assist you with your small business needs is the Yahoo Small Business Web Hosting service that is offered. With Yahoo, you can enjoy a multitude of wonderful features. The first being that you can design your website with a great deal of flexibility! You can also implement the use of the many professionally designed templates, or pull a template from a 3rd party.In addition to this, Yahoo Small Business Web Hosting service gives you a lot of web hosting space for your products. Each month, you are permitted to have an unbelievable 200GB of bandwidth in which data can be transferred to your customers. You can also enjoy a large 5GB of web space to effectively design your website.When you sign up for Yahoo Small Business Web Hosting, you can get a free domain name in order to brand your website. If you already have a domain name, that is no problem! Yahoo will allow you to bring your own name with you! In addition to outstanding features that come with your web hosting subscription with Yahoo, you can enjoy the comfort of knowing that there are specially trained professionals available to you every hour of the day of the week if you have questions, concerns, or issues with your service or website.Many small businesses enjoy the Yahoo Small Business Web Hosting service because the subscription runs on a month to month basis, and there are no contracts involved in which you must commit to a certain term of service. Furthermore, the prices are quite competitive. You can have all the benefits of this service for as little as $7.77 for the first 2 months, and then $8.96 per month thereafter! This is an exceptional value!When using Yahoo Small Business, you can enjoy a variety of marketing features. Marketing is a key component to the overall success of your business. One of the most popular methods that many business owners use is advertising in Yahoo! Local. You can display your business logo, describe your business, advertise your products, and more by implementing the use of this effective marketing strategy.Individuals who take advantage of the marketing tools in Yahoo Small Business can submit their website to the Yahoo search engine. Many business owners also submit their website to the Yahoo Directory, and promote their products in Yahoo Shopping. By using these various marketing tools, a business can gain exposure, increase their search engine ranking, and potentially earn an outstanding income. Yahoo Small Business works to make every effort to ensure that each business is successful in their endeavors.Internet access is often very important when it comes to the productivity of the small business. While there are numerous providers of internet service available today, if a business decides to use Yahoo as their one stop business solution, they can enjoy the collaboration of Yahoo and AT&T. This collaboration can provide you with an inexpensive way to ensure high speed internet access with great reliability. For as little as $14.95 a month, one can enjoy exciting features such as enhanced business security, effective and reliable connections, and many tools that allow you to communicate with your clients, customers, and coworkers.Email is an essential part of every small business. When you utilize the email service that is provided by Yahoo Small Business, you can enjoy many features, which include:- Unlimited Space on the Email Server- Your Domain Name on Email Addresses- Free Email Newsletter- Spam Solutions- Name Brand Antivirus SoftwareBy using this Yahoo Business Email service, you can assign personalized email addresses to individuals that conduct work within your small business. If you want to create a professional, high-quality solution to your email needs, Yahoo provides outstanding services that make this possible.As you can see, utilizing Yahoo Small Business can prove to provide many benefits to your small business. You can depend on this service to provide highly technological solutions for your business with outstanding reliability and customer service.Create a yahoo web site for yourself and see the excellent benefits and features that you can have for a great price. The Site Solutions tool alone will amaze you with how easy it is to build a web site. These features are a great beginning on why anyone should choose Yahoo Small Business.

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Getting Degrees Fast With Online Health Courses

Health-related jobs are in high demand today. While there may be many reasons why one will take up a health-related course, one of the most common of them is financial. Jobs in health care industry are lucrative and highly rewarding. There are many ways how to acquire a health degree but the most convenient is taking online health courses.Online courses are helpful in many ways depending on the need of the student. For some, taking courses online can be a complementary education; others would consider taking them because of the need for continuing education; and some may take them to get a degree under the comfort of their home.One of the most lucrative online degrees is Psychotherapy Degree. This advanced course is only available for practicing psychologists, psychiatrists, social workers, and registered nurses with psychiatric experience. Jobs available for psychotherapists include working in hospitals, schools, research labs and other psychology-related fields. Graduates of psychotherapy can also practice privately. There are also specializations in this field. One can be an adult psychotherapist, an adolescent psychotherapist, a child psychotherapist, or even marriage or family counselor.Another excellent online health course is Online Anatomy Courses. As one of the required courses in any form of health courses, Human Anatomy Course is also notoriously difficult if taken together with other courses in a normal medical school setting. But taken alone, this subject is easy and enjoyable. The most important thing before taking an online Human Anatomy Course is making sure that the school is accredited so that time and money spent are not wasted. If one plans to study in a normal medical school in some future, be sure to ask the school first if credits one can get online will be accepted.Craniosacral Therapy Training is another useful and practical online course only for health professionals like doctors, chiropractors, and physical therapists. This course can facilitate doctors and health practitioners understand better the causes of stress and the negative results of stress. Craniosacral Therapy can alleviate numerous health problems such as ear infections, headaches, strokes, etc. Basically, this therapy works by manipulating the muscles and bones in the face, head, vertebral column and the general area around the skull.High demand for nurses today gave birth to Online Nursing Courses. Although one of the most lucrative jobs in the health industry, the United States is still acutely in need of high numbers of nurses. A regular registered nurse can easily make between $70,000-$80,000 annually. Online Nursing Courses can be taken even if one is holding a regular job or raising a family. A degree in Nursing Course can easily land a graduate in many rewarding jobs like hospitals, schools, military, and many other medical settings.With many online courses today, one can forget about traditional school setting. Grab success through Online Health Courses!

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Buying a Car With Bad Credit – How to Get Approved Online For People With Low Credit Scores

When Buying a car, bad credit presents a challenge for many people that have limited local lending sources. Those that are not aware of online finance opportunities through legitimate lending networks, typically buy cars at high interest rates. Frequently, people with bad credit are turned down locally due to the lendng guidelines of local banks, credit unions and dealer lenders that have strict lending guidelines.¬†Online Financing – There are good lenders online that are willing to help people that have bad credit buy a car. This is an easier process than attempting to pursue local car financing with bad credit. Car loans are secure loans and are easier to obtain with bad credit than credit cards and other unsecured lines of credit. The internet opens a door of opportunity for people that may not have these lenders readily available in their local area, or don’t know where to find them.Overcoming Low Credit Scores -Credit scores aren’t everything when it comes to auto finance. Some lenders are very strict with regard to Equifax Beacon Scores, while others look at the overall picture. Good Lenders that help people that have bad credit, consider factors that are outside of a credit report. This includes income, job time and other factors. Even with a credit score as low as 480, it is still possible to obtain financing if one applies and meets certain basic requirements.Avoiding Predatory Lending Practices – There are more secondary lenders than not, that make enormous profits from lending money at very high interest rates. These types of lenders should be avoided, for obvious reasons. Too many times, people with low credit scores fall into the trap of predatory lending practices, further escalating their already suffering financial condition. The best thing for improving credit, is working with a lender that understands your need to rebuild your credit with good financing terms. It does not help you to fall into the trap of high interest rates and fees.Little to No Money Down Auto Financing – Many people that have bad credit believe that in order to obtain auto financing, they must have money down. This is only the case in circumstances where the price of the vehicle is not advantageous to the buyer, or in cases of in-house car financing. Arranging auto financing without a down payment is simply a matter of having the right combination of car, price, loan value and financing terms. It’s really very easy and good lending sources and included dealer networks can help you with this.Avoid Buy Here Pay Here Financing – The most expensive way to purchase a car, truck, van or SUV is by buying at a buy here pay here dealer. Dealerships that finance their own cars charge very high interest rates and always require down payments. In many cases, a customer pays thousands more and sometimes more than twice, the retail price of a vehicle at these “tote the note” dealerships. The only case in which a Buy Here, Pay Here car lot is needed, is when you are in a current bankruptcy. Even so, it may be less expensive to rent a car, than to buy from one of these types of car lots.Getting a Lower Interest Rate – Some car dealerships, in fact most, make a practice of adding points to the approved interest rate of a customer, especially with customers that are buying cars with bad credit. This makes easy profit for the car lot, however results in higher monthly car payments for the consumer. Avoiding dealerships that use this practice is paramount in obtaining a lower interest rate. Regardless of whether or not a customer has prime credit or subprime credit, this practice costs consumers more money than they should have to spend for auto finance.

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Online Finance and Banking Training

Finance and banking are two of the leading forces behind the economy. Both categories are applicable to business, corporate jobs, and personal usage. With money being a driving force in the world people have the option of gaining specialized training in these areas.First, let’s look at the definitions for each field of study to gain a better understanding of where an online class will head as a student progresses through the coursework. Finance is the commercial activity that provides funds and capital. It is the branch of economics that studies the management of money and assets.Banking is the business of keeping money for savings and checking accounts that enable the bank to exchange or issue loans, credit, and more. An individual transacts business with the bank via depositing, withdrawing, or requesting a loan. In essence a bank is a financial institution licensed by the government.Length and pricing will vary depending on the course load, school, and degree desired. Certain schools have a wide range of courses priced at $159 a class. A student can take classes one at a time like above or obtain a degree based on a curriculum given online. A student has the option of finding a school to gain a master’s degree in banking and financial services. Some programs at this level may consist of 12 courses for a total of 48 credit hours. Class structure would have the student taking two, seven-week courses online per semester. The length of this type of program will take an average of two years to complete.Students have the option of completing a degree program online that encompasses finance and banking or gaining a degree in finance and banking separately. Different online schools offer programs starting with an associate’s degree to a doctorate in finance and banking. The right fit will depend on previous schooling and the career goals an individual has.Gaining a Bachelor of Science in Business Administration for Finance can be an option for an individual who has strong career goals in the business field. Learning as a student will give the capability to research, solve, diagnose, and evaluate business troubles in a team environment.Graduating with a Bachelor of Business Administration for banking enables a graduate for a wide range of managerial jobs in business, government, and non-profit organizations. Skills acquired are practical and professional. These skills prepare a student to understand all phases of business, which include decision making and problem solving.With the ability to stay at home, students will have the comfort of being able to obtain a degree in their pajamas. Highly accredited colleges center around four learning environments; Internet, home, small groups, and work. Each one is designed to help further an education and make success possible. Online learning provides a foundation of communication and interaction directly from a student to the professor. Working from inside the home allows the student to determine a personalized course schedule. The instructor will successfully guide students through the coursework utilizing participation with the students enrolled in the class. The practical knowledge gained through an accredited online program prepares students with the skills necessary to become a part of the finance and banking industry.DISCLAIMER: Above is a GENERIC OUTLINE and may or may not depict precise methods, courses and/or focuses related to ANY ONE specific school(s) that may or may not be advertised at 2010 – All rights reserved by

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Do You Need Another Brand?

Multiple brands aren’t always the best approach.When launching new products or services, my client often ask me if they need a separate brand, especially if the offer is “breakthrough” or radically different from what they currently sell.Creating a separate identity may seem like a no-brainer, but it’s not necessarily the right choice.I’ve noticed a trend of sorts recently towards multiple brands, which isn’t always a good thing. From my observation, brand-breeding seems especially prevalent among solopreneurs who seem to feel that every endeavor needs its own brand platform.These independent professionals are trying to segment their brands and their lives, but often don’t succeed at either effort. The smaller the company, the harder it is to juggle multiple brands.Larger firms have similar issues, but it’s much easier to manage sub-brands or even disparate brands when you employ thousands of people and serve markets around the world. Different divisions often have their own brands, staff and identity for operational efficiency and marketing purposes.Regardless of whether you’re sitting behind a desk as a Fortune 500 company or a start-up, my advice on when to create a new brand can help you make the right choice.First, let’s look at the symptoms of split-brand personality disorder…
Multiple email addresses for the same contact, each on different domains.
Several websites, often stacked up in a pile of 3 or 4 URLs on business cards and letterhead
A blinding variety of logos which don’t seem to have any relation to each other
Customers are confused by the variety of product brands and/or company brands.
If you deal with any of these symptoms on a daily basis, or other issues like multiple signs on the door and not knowing what name to use when answering the phone, you may have a brand problem.Multi-Brand Hazards
Sometimes a new offering seems to demand its own brand, but it does carry risks. Stop and think hard before you head down that path. Downstream implications of multiple brands mean your business must deal with issues like:
What website do we send customers to? Is it worth splitting your website traffic between two or more sites, of is it better to have one site with several products or services listed?
What email addresses will our staff use? A consistent address build brand value, while variations dilute the brand.
How do we manage leads? Are responses uniform, or to you need brand-specific messages?
Will you have different sales teams for each brand? If yes, are the competing with each other for business?
Is there a unique P&L for each brand? If so, can you easily allocate revenue and expenses?
How will you manage social media profiles? One for each brand or an umbrella presence for the whole company?
These and many more queries will come up as you work to manage your multi-brand business. Sometimes it’s worth the trouble, and often, it’s not.When Should You Add A Brand?
There are some valid reasons for creating a new brand. It makes business sense to develop a stand-alone identity when certain criteria are met. These include:
A change in geography. If you’re entering a new country, a separate brand may make sense to address cultural differences. Often there’s a benefit to carrying forward an existing brand, but sometime language or imagery are not appropriate in the new market. A classic case in point is the Chevy Nova: “no va” mean “its doesn’t go” in Spanish, no such a good moniker for a car!
A dramatically different market. When your new offer targets a unique customer set, like small businesses rather than your usual enterprise market, branding can be used to differentiate the offers. This can help limit segment migration and fears one group of customer may have that you’re losing focus on their needs.
Differentiation (or discretion) is required. Sometimes a new offer appeals to a group of customers your existing buyers don’t really want to be associated with. Instead of selling both offers under one brand, you may chose to roll out the new offer with a distinct brand to avoid rocking the boat.
You have an exit strategy. Some products are developed with the intent of being sold once they gain traction. This is a lot easier to manage when the offering doesn’t carry the corporate name or that of the marquee product you plan to keep in your portfolio.
Vastly different products. If you’re launching a completely new and different category of product, you may find a separate brand is easier to sell to your existing customers than one that looks too much like what they’re used to. An example might be an organic yogurt firm branching into hosiery. The buyers might be the same, but they could have trouble making the connection between your product lines.
If you’ve got more questions about when or how to introduce a new brand, I’m happy to help. Feel free to leave a comment or give me a call at 678.823.8228.

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