Top 5 Pricing Mistakes

 

Top 10 Pricing Mistakes

In today’s most competitive world, companies are looking for various ways to increase their competitive advantage and improve their overall performance. Most of the companies have already resorted to cost cutting, outsourcing, process re-engineering and adoption of innovative technologies; however, their benefits from these actions are diminishing day by day. They are on the lookout of new strategies, and pricing is the most obvious one. Majority of the companies have already started recognizing this, and so they have started devising pricing strategies. Unfortunately, these strategies aren’t yielding the results they want due to certain errors that they fail to realize. Let’s talk about those errors now.

1) Prices based on costs: When the prices of the products are based on the cost of production, either the price end up being higher than the customers’ perceived value – pushing up the costs of sales – or, being lower than the perceived value – missing the opportunity of maximizing the profit. The bottom line is, the costs are irrelevant when it comes to pricing because they form a lower boundary for the price. The better strategy is to understand the perceived value of your products in the eyes of your customers.

2) Prices based on the marketplace: When you price your products based on the marketplace, you are bowing down to the collective judgment of the crowd about your product. Usually only those companies use marketplace pricing who are laid back about their business, ending up with thin profits. You should rather differentiate your products or services from your competitors.

3) Same profit margin across all product lines: Many financial strategies support uniformity in profit margins across all the product lines. However, this doesn’t work in the real world because each product line has a different set of target audience, and again, these potential customers have different perception about the price of the products. To put it simply, the price of any product line should reflect the target customer’s willingness to pay for that product.

4) Failure to segment customers: Usually customers are segmented into different groups according to your requirements and expectations from the product. The value proposition for products and services is different for different market segments, and hence the pricing strategy should reflect that. But when you fail to segment your customers, you are either overpricing or underpricing your products.

5) Constant prices for long time: Although changing prices on the daily basis doesn’t make business sense, it doesn’t mean that you hold the prices for your products at the same level for years to come ignoring changes in the costs, competitive environment and customer preferences. For better customer service and profit margins, you should update your prices at reasonable period of time and communicate the same to your customers to make sure that the value proposition on both the side matches.

To control the management costs and boost the sales, optimization of pricing strategy is a must. But this task can’t be done offhand. It requires lot of research and proper analysis of the gathered data. You need to tie the pricing strategy with the value perception of the customers. Until and unless this is done, you can’t win customer loyalty, lower cost of sales and enhanced profits.

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How to Impress Your Clients This Holiday Season

How to Impress Your Clients This Holiday Season

Impressing the clients should be top priority for every business. And what better occasion to explore this aspect than the holiday seasons. Holidays are just the right occasion if you need to show the extra care and appreciation toward your clients.
And so there are many ways in which you can accomplish these tasks. Look through these tips below to find the best options which makes your clients coming back to your site to make more and more purchases.

Sending innovative gifts to impress the clients

Who doesn’t like gifts, isn’t it? And if the gift is a surprise from someone unexpected then the joy is doubled. Period. So sending innovative and creative gifts to your customers should be one of your primary agenda during festive seasons. Not only does it create an impression on your customers but it will also make your customers aware that you care for their needs.
But do make sure that the gifts that you send to your clients do not turn them away instead of attracting them. Before sending out gifts, ensure what the needs of your customers are. Plan out things in advance and then venture out on distributing seasonal gifts to your valuable customers.

Sending holiday cards to woo the clients

Attractive holiday cards always do wonders. Beautifully decorated cards catch the eyes of the public. This makes your customers aware of your brand value and they do not think twice to shop from your store.
But before you just send any simple card to your clients, make sure you design it in the right manner that depicts the brand image of your business. With modern designing techniques today, you can incorporate the logo of your business together with a customized message in your card to give a sophisticated touch to it. To make it more artistic and creative, add your team photo of yours to impress them more.

Inviting them to actively take part in the celebrations

Plan a day for hosting a holiday party for your customers to join in and celebrate the festive season. Indulge in the best celebrations that helps to build a great rapport with your clients.
Last but not the least, everything that you do, plan out everything in advance. This is important because you do not want to make a fool of yourselves in front of your customers. Isn’t it? If it is Christmas season, make sure that your gifts and cards reach your customers before Christmas.
If you are planning to send cards and gifts to your clients, you need to have their latest address for the gifts to reach safely. Also, if the clients are far away, plan accordingly so that it does not become a disaster at the last moment. Enhance this opportunity to use it to the fullest so that you can build a trustworthy relationship with your clients.

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Why IT Service Costs Are Mostly Inaccurate

Why IT Service Costs Are Mostly Inaccurate

Every business needs to keep an eagle eye over their business, particularly when they are looking to expand rapidly. Every expense needs to be recorded scrupulously and every penny of the revenue accounted for. However, when it comes to expenses, most of the businesses fail to calculate IT service costs properly. There are several reasons behind the miscalculation. Let’s have a look at some of those.

1) Inaccurately recorded expenses: This is one of the most common mistakes. Let’s take an example of your company to understand this point. Your marketing team needs a laptop costing $1,000. The accounting team records this expense under the marketing department because the laptop is going to be used by them. The same way, accounting department needs a laptop, and again the expense is recorded under the accounting department. Consequently, even though IT hardware expense increased, the IT department isn’t responsible for this. Technically, this is misappropriation of operational costs. These costs belong to IT department because they are assets of IT department.

2) Recording all expenses: You have to record each and every expense, no matter how small it is. Usually every business has one or two major vendors who account for 75% of the expenses. So it’s a common mistake to focus on these vendors while ignoring the small vendors who account for 25% of the expenses. Once you track all the expenses, big and small alike, you will the actual expense of your organization. This will also help you for future budgeting.

3) Recognition of expenses: This problem arises specifically in small businesses who don’t have dedicated IT department. They usually have couple of employees who are proficient in maintaining various IT devices. But as they have different roles, their expense is not considered as IT expense. For example, your small business has no IT department but you have an employee drawing $50,000 a year who looks after printer and server, along with his/her main role as executive assistant to marketing manager. Now this employee spends 10% of his/her productive hours in maintaining IT infrastructure. So ideally, $5,000 of the salary should go under IT department but unfortunately, most of the companies fail to do so. Once you start recognizing the IT expenses correctly, you will get better vision of your business.

There are several benefits of recording your IT expenses correctly. Some of them are as follows:

  • Helps in proper allocation of budget
  • Facilitates accurate accounting of each department
  • Helps top management in making better operational decisions
  • Facilitates proper future planning

Do you have more questions? Do not hesitate to contact us. The online store offers wide range of printers, including HP, Lexmark, Okidata, Brother USA, Canon, Samsung, Ricoh, Sindoh and more. If you have any confusion, just contact us. We are known for offering outstanding customer service.

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Warning: You’re Losing Money By Not Using Paperless Offices

You’re Losing Money By Not Using Paperless Offices

Love it or hate it, but you can’t ignore the fact that paperless office can contribute toward your cost savings significantly. No spending on expensive toner or printer. No spending on print paper. By cutting down all these expenses, you automatically contribute to your bottom line. How about shooting a mail to an undisciplined employee instead of dropping a memo off?  How about using electronic signatures instead of a pen?

Here are the six other ways you can make the switch to a paperless office:

1] Document Management System

Proper document management could your first step toward a paperless office. Store document electronically as well even after you have taken out a print and stored the physical version in a file cabinet. Document management systems such as M-files help documents to be stored electronically. Such system helps employees to work faster and eliminates excess paper shuffling and lost documents.

2] Scan & Email Prints

Every time you fax a document, two copies are produced. One at the recipients’ end and one at your end. You can save on paper by supplementing this process by using scan-to-email or scan-to-fax function in the printer.

3] Prefer Cloud Storage over File Cabinets

In cloud, storage papers are stored safely online. So you don’t need any hard copies of the document. Needless to say, you’ll have zero headache in terms of printing and file documents. Moreover, it’s easier for employees to access files stored in the cloud, irrespective of the place they are working from.

4] Email PDF Invoices & Statements

Invoices and statements also consume loads of paper. Businesses have the habit of sending invoice to the customers to collect payments. This process is inefficient as it wastes papers. And as your business grows, more and more paper gets wasted. So instead of sending invoices, send PDF customers. The PDF consists all the information they need to pay. And more importantly, it reaches the customers more quickly.

5] Digital Contract Systems in lieu of Paper Contracts

Contract signing also consumes excessive amount of paper. So instead of printing all the documents, create a digital version of the same with signature and initials.  The concerned parties can simply tab through the contract and sign wherever required.

6] Meeting Notes on a Laptop or Tablet

Meetings are not complete without printed documents for all attendees. These documents contain the agenda, meeting minutes and notes. In case the attendees have the technology, such documents could be shared with them via a mobile device prior to the meeting. This helps them access it during or after the meeting and more importantly saves paper.
Effectively employ the above tips to save money. Plus, you can accelerate your productivity and keep your environment green by turning your workplace into a paperless office.

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6 Best Email Security Measures for Better Security

6 Best Email Security Measures for Better SecuritySecuring your emails is a given thing in this digital world. Since it’s the most traditional medium to communicate with your employees, it’s important for the businesses to ensure that it’s not compromised or intercepted. If in any case, this thing happens, you may end up paying a hefty price for this mistake/accident. However, the best way to avoid this to formulate specific email security standards for your business.
Here are some email security best practices that you could consider:

1 – Employ Secure SSL Servers for Email Communication
An encryption technology like the Secure Socket Layer (SSL) allows you to communicate with your email server using greater encryption security.  It uses a private key and a public key to encrypt all email data, which only the recipient has access to.  So, even if your email is intercepted, it would be unreadable for the intercepting party without the private key.

2 – Employ Enterprise Grade Spam Filtering
There’s more to spamming than just random ads. You may even become a victim of phishing scheme or accidentally download a malicious software from someone trying to fake his identity. This can happen to you as well.
Employ enterprise grade spam filtering to prevent these emails from entering your inbox. Thus you can do away with this risk completely.

3 – Formulate Internal Policies and Procedures
If policies and procedures are in places then it acts as a shield for your business. Rope in your employees and keep them informed about the processes. Here team work plays an important role.
Here are a few points to follow when setting up email policies and procedures:
•    Can personal and business email accounts be combined?
•    Is there another way to open attachments?
•    What measures should be adopted for opening forwarded emails?
•   Any restrictions while sending and receiving emails from external contacts?
Ensure that all employees are familiar with these policies. Also, they should know to whom to go to if they have any additional questions.

4 – Close and Forward Accounts for Ex-Employees
If any employee leaves the company, ensure to close their accounts. Forwarding means when an employee is shifted to other department or tasks his email account is forwarded to another employee on your team capable of completing or delegating the continued communication.

5 – Avoid Outlook For Mass Emailing
When there are professional sites designed to send mass emails, why use your outlook. Subscribe Constant Contact or Mail Chimp services.  If you are using personal outlook, in all probability, it will be flagged as spam. This puts you at risk of being shut down by your email provider.

6 – Password Protection
Employees with mobile devices accessing company data should be using passwords to secure the information. This adds an extra layer of protection, preventing immediate access to emails, contacts and other data.
These are a few selected methods that help employees, customers and their data safe from security threats. Executing them on immediate basis protects your company from undesirable attacks.

If you have any more tips or best practices to share, go ahead. Use the comment box below for the same.

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How Unorganized Office Spaces Turn off Clients ?

1 How Unorganized Office Spaces Turn off Clients

Love it or hate it, but the fact is that clients dislike disorganized offices. In other words, out of whack offices with little or no filing system in place turn off clients. It simply says: You work in a clumsy environ and your attitude toward work may be equally or a lot clumsier.

So if you want impress your clients in the first instance itself, then besides the office décor and furniture, you need to invest a fair amount of money in spacious files and file cabinets as well. Systematic filing will not only help you and your employee’s access all the files quickly and timely, it also expedites work processes and in turn your delivery time as well.

The other important aspect to consider while maintaining files is the relevancy factor. It’s said that 75% of the papers filed never get referenced back again. So think about it? You can easily dumb all that irrelevant stuff, rather than stock them up in stacks and occupy unnecessary space in the file cabinets, and in all possibility, your mind space as well.

Also, a well planned filing system ensures that you store your documents category-wise. So as and when you need them, you just need to go category-wise to locate the required doc rather than going through all the files. This saves times, which can be better used for other crucial purposes.

Acedepot.com is a premium online supplier of Office Stationery. For unique and efficient file folders and other office stationery and equipment, take a look at our offerings section. It’s overflowing with the best and the latest office equipment and on top of it we are offering huge discounts on selected products. Visit now.

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How to Keep Your Workspace Clean ?

Cleanliness and productivity are interlinked. So if you are spending 40 or more hours at your workstation on a weekly basis, it becomes very important to keep it neat and tidy, if you really want to boost your productivity. However, there’s a gulf between expectation and reality. Because as your productive hours increase at the workstation, loads of useless stuff start crowding your desk as well, such as tea cup, coaster, rough sheets, over used pens, paper and what not. All this clutter is sure to affect your productivity in a big way. More than anything, you won’t feel like working at your workstation anymore.

clean desk

So if you want to keep your workstation clutter free, here are a few tips which will help you do so.

Dispose them 

Dispose off the pile of files and papers you haven’t used for a while. Throw  it in the bin and not at your workstation. Also, do give a thought to the old memos, drafts of old reports, printed e-mails and whatever is on your desk. Do you really need them?

Lose them 

If you are drawers are crowded with knick-knacks, it high time you lose them. Find the ones you have not been using at all. You may think that won’t be able to live without them, but simply get rid of them and you’ll realize that they were not worth the space occupied.

Clean them 

Clean your desk everyday. So you won’t be a witness to the clutter the next day. And more importantly, you will get to start the day on a happy note. If it’s not possible, spend every Friday evening (at least 5 minutes) before you call it day, to tidy you your desk.

Do you have any more tips on how to keep your workstation clean? Share with us in the comment box below.

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How to fight Sitting Disease ?

Sitting Disease? Yes, you heard it right. Sitting disease, though not diagnosable, is deadly. Medical experts refer long periods of physical inactivity and its negative consequences as ‘Sitting Disease.’ According 2010 American Cancer study, women who are inactive and sit over 6 hours everyday are 94% more likely to die than who were physically active and sit less. Men who are inactive and sit over 6 hours are 48% more likely to die than their counterparts who stood more.

 sitting Disease

So sitting disease is real and it has been affecting many office employees specifically. With 50 to 70% of people spending six or more hours in the office sitting, the disease is spreading like a wildfire world over. Also referred to as metabolic syndrome, it’s a condition where by your blood vessels go to sleep after 60-90 minutes of inactivity. This may not sound harmful to you but in reality it is. The disease can lead to weight gain, diabetes, high cholesterol and heart problem.

So how to fight sitting disease? Simply stand, walk, contract/relax your muscles every hour to reactivate your blood vessels and get healthy enzymes moving. These healthy enzymes help restore your metabolism.

A combination of frequent movement and proper ergonomics is how you fight this disease. Acedepot, a leading supplier of office equipments, offers ergonomically-designed chairs for desk and office space. Speak to Acedepot consultants for more information on ergonomics.

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How Office Automation Equipment is helpful For your Business?

Are you looking for the right environment with automated office equipment for better productivity and efficiency? Now need not worry.

automation

With the use of office automation equipment, a firm can store, transfer and manage business informations in a safe and secure manner. By combining different applications, both hardware and software, these tasks can be accomplished with ease and also within less time. Here, we will focus on the three major aspects of data storage, data exchange and data management and how these automation equipment help a firm to make their office jobs look simpler and easier.

  • Data Storage

Important documents, files, office forms and many other records need to be maintained and taken care of. For this, different text handling software applications like the word processor are available that help in editing files, images, worksheets and much more. They take care of all text manipulations by using sophisticated commands for formating, editing and even the printing needs. In addition to such commands, such applications also offer formatted templates that are pre-designed to help you follow your favorite styles for header, footer, page numbers and much more.

Another important thing under data storage is the desktop publishing feature. Combining the efforts of a word processor with latest design and layout features, this has become a blessing for creating newsletters, pamphlets and other important documents with improved graphics, photos, drawings and many more.

In addition to the software applications, different physical office supplies like computer accessories, shredder, multifunction, typewriter, letter folder, calculator, laminators, currency counter, timeclock, safes, hole punches, desk accessoriescopy holders, office machine stands, etc. that store your documents and durable office chairs and desks that save a lot of space are also available. They are helpful as they help in keeping the document and files in a systematic way thereby reducing the search time and storage space in your office and provide a comfortable work space to your employees.

  • Data Exchange

Once the data is manipulated and stored for future transactions, it needs to be interchanged with other party people for effective communication among businesses. There are many electronic transfer tools available that are helpful for an organized data transfer that occurs real time. Automation systems that share, receive and send data across networks with the additional level of security are also available these days.

  • Data Management

Many automated systems that help in tracking of the useful data for taking long term financial decisions by the top management and various other aspects of business are also helpful for a firm. Such automation systems and important information can be accessed by only the authorized personnel within a central location.

Get easy to use and reliable office automation equipment from Acedepot that not only ease office jobs but also provide hassle free working atmosphere. For more information on office automation equipment, call our professionals at Acedepot!

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Why Recycled Products are Beneficial?

In light of worsening global warming, every individual and business has to contribute in some way or the other to preserve healthy and secure environment as much as possible. And due to this very reason, many people and businesses have already switched to recycled products because apart from being cost-effective, they prevent unnecessary wastage of lot of resources.

“Go green” is the new agenda followed by various business ventures. With every firm and individual taking such initiatives, the world is literally going the green way.

Listed below are some benefits of recycled products for a greener and healthier environment: 

recycle

Creating jobs with recycle processes                        

Recycling is the process of manufacturing new products from scrap materials or waste. As it involves a lot of procedures and human efforts, is has significantly increased the job opportunities for many people.  With the start of the “go green” cause, many recycling firms have taken this initiative to employ more and more people for the smooth operations.

Refurbish office machines save huge bucks

If you are planning to buy brand new products, think again. Refurbished office machines like multifunction printers, shredders, cash registers, laminators etc. produce the same standard of work as that of a new machine. Many firms test these products for better quality and durability so that they produce enhanced results. Moreover, these products are available at half the price of a new product. So this means that you get same quality machines at rock bottom prices.

Cost efficient recycled material

All common office supplies like cartridges (refilled), toner (refilled), desk accessories, file folder are made from recycled plastic, paper, wood and other materials thereby reducing your operational costs. Additionally, the pollution is also reduced to a greater extent – making way for a healthy and cleaner environment.

Including Used/Demo/Open Box Office Machines

Used/ demo / open box machines offer excellent services and are available at less costs. Including these classic used machines in the office can make your office area look chic and trendy. For this reason, most firms don’t even mind spending extra bucks for the best recycled office machines that can also stay longer if properly maintained.

Giving away old equipment to get extra cash

Selling used equipment will earn you extra money instead of keeping such stuff at home that are of no use. If you want to donate them, it can also be an option with such products.

So if you are looking for recycled, refurbished/Open box, used product purchase and other branded office machines, visit Acedepot.com! Acedepot has a large collection of elegantly designed and recycled MFPs, fax machines, shredders and many more office equipment of famous brands like Cannon, Brother, Samsung etc. specially designed for your office space. Our recycled products helps you save your money with quality intact.

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