Branding can go a long way when it comes to a customer’s buying habits. This can vary from anything such as impulse purchases, and larger purchases that might be based on brand loyalty. Therefore, no matter what market you’re in, it’s important to know how your brand is performing. There are of course many aspects to a brand, as well as many ways in which to measure how well a brand is performing. In this article, we’ll be looking at three different types of brand metrics. Specifically seeing how these different metrics can provide different types of insights to how your brand is performing.

Firstly, a widely-used metric is net promoter score (NPS). Simply put, this score measures how willing consumers are to recommend your brand. It’s very useful to have an accurate NPS, as word of mouth suggestions can be one of the hardest things to get an accurate picture of. Plus, unbiased recommendations from friends or family can have a much larger effect on a consumer than any type of marketing campaign. It’s quite simple to calculate: Ask a large number of people how likely they are to recommend a brand to friends on a scale of 1-10. Then divide those who said 9 or 10 with the total amount of people asked, and you’re left with your net promoter score.

Knowing how much your brand is being recommended is one thing, knowing how likely each consumer is going to actually buy from you is another. Purchase intent is a metric that allows you to do just this. Recommendations are great and a powerful form of brand loyalty, but purchase intent makes customers put their money where their mouth is. Which means purchase intent scores can often be more reliable than NPS. It’s scored in a very similar manner, with options varying from ‘very unlikely’ to ‘very likely’, instead of a numerical 1-10 response. The amount of ‘very likely’ answers is then divided by the overall number of answers to give you a purchase intent metric.

Finally, you may wish to know other aspects of your brand though, such as how well known it is. Unprompted brand recall can help with this. This measures how often customers refer to your brand when naming brands within your industry/market. If you’re a relatively small brand, you may wish to use prompted brand recall instead, which offers a list of different brands within a market. Then customers circle which ones they’ve heard of.

Do you want to read more about business? Well you’re in luck, we have a whole category on it!

It’s not a big secret that finding success in business is not an easy feat, especially for smaller companies. After all, unlike well-established corporations and large enterprises, a small business can ill-afford to spend more than it needs to. After all, these types of companies generally have to work with limited resources. And any investments made can have a considerable impact on the financial state of the company. As such, it makes sense to plan everything out to the last detail before committing to any decision. To this end, here are just a few top tips that all small business owners should consider.

1. Never be without a contingency plan

In business, it’s not uncommon for eager and inexperienced entrepreneurs to focus too much on the rewards that their business decisions can potentially yield and overlook the negative impact that it could have. And no matter how well-planned a project or investment is, it’s impossible to eliminate the financial risks involved entirely. As such, it’s crucial to have a contingency plan in place. In this way, you will be much more prepared to deal with any problems that may arise and, as a result, lessen the blow of negative repercussions in the process.

1. Make sure the numbers are good

Business success isn’t solely about offering a unique product or providing high-quality services. It’s also about maintaining high-profit margins consistently too. And one way this can be achieved is to ensure that the numbers are good through regular auditing and accounting. Whether you choose to keep the tasks in-house or acquire the services of accountants in Central London, ensuring that the numbers are good is essential for a business to succeed.

1. Take advantage of collaborative opportunities

It’s not uncommon for small businesses to collaborate with each other for joint ventures. After all, it presents a unique opportunity to reap the rewards of a large-scale project without committing a substantial amount of resources in the process. And by doing the same, not only will you increase the chances of getting the desired results, but you’ll also reduce the financial risks involved as well.

1. Explore all avenues before making any commitments

From the equipment and tools that the business requires to any potentially lucrative investments and partnerships, it’s a general rule of thumb to explore all avenues first before making any commitments. And while this may require more time and work on your part, considering all your options will not only help you find better deals and reduce company costs, but it also keeps the risks to a minimum too.

Many of us aspire to run businesses of our own, but very few realise the challenges that it presents. But despite all of the difficulties involved, having a successful small business is not impossible to achieve. And by keeping these top tips in mind, not only will you minimise the financial risks that you take but you’re also far more likely to get the desired outcome too.

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With today’s modern technology, and the dawn of the digital era, people can work remotely from home, a cafe or even on the beach – well near the beach, sand and technology don’t mix well – on their laptops with more ease than ever before. Because of this, coworking spaces and shared office setups are popping up in cities, and even towns, all over the US. A simple internet search for ‘shared office space near me’ will give you a rather impressive number of results.

 

While these shared workspaces may be a new concept for some, they have been around for a while now and their increasing popularity shows that they aren’t going away any time soon. With these kinds of workspaces being more relaxed in nature than a traditional office space, you might wonder how to behave in such a work environment.

 

Let’s take a closer look at a couple of etiquette tips so you can be prepared for getting down to work in a shared office space.

 

Respect The Boundaries

 

In most shared office spaces, there is an option to choose to use either a hot desk or a dedicated desk. A hot desk is simply a desk that you choose when you arrive on a first-come-first-serve basis, while a dedicated desk is one that is dedicated for your exclusive use. It is wise to respect the boundaries and allow others ample room in the communal hot desk spaces and cross the boundaries by venturing to a dedicated desk to borrow a book or a pen.

 

Keep Noise To A Minimum

 

A shared office space doesn’t need to be treated like a library but you should be mindful of keeping noise to a minimum. After all, you and others using the space are trying to concentrate and get important work done. If you can, try to take business phone calls in the communal spaces or reserve a private meeting room if you need to take an extensive or lengthy call. If you must take an important call in a shared work area, use headphones to keep the distraction for fellow coworkers to a minimum. The same goes for those of you who like to listen to music while you work.

 

Clean Up After Yourself

 

As in most workspaces, you need to keep your area clean and tidy so as not to upset and distract others. This is especially true if you are using a hot desk, you should leave it as you found it and always tidy up after yourself. If there is a kitchen facility with tea and coffee making amenities, be sure to wash them your utensils and cups, and return them to their rightful place as well as putting any rubbish into the bin.

 

Be Mindful Of Others

 

Shared office space is, as the name suggests, shared with others, so it is a good idea to be mindful and respectful of your coworking colleagues. If a colleague is wearing headphones and looks very busy, it’s a good idea to let them get on with their work without interruption. Reserve your networking efforts for the communal areas. By being open, honest and respectful of your fellow workmates you are sure to make some great business connections when the opportunity presents itself.

 

Coworking With Common Sense

 

As you can see, most of the etiquette for shared office space is the same as it would be in a traditional office space. By following these tips, tweaking your behaviour with a little common sense and respecting your coworking colleagues, you’ll be well on your way to shared workspace success.

 

 

The work environment can significantly affect the overall mood of workers in an office. For example, while a gloomy and dark colour may look posh and classy, it might cause a dip in the productivity levels of your staff. Aside from the colour of the room, an excessively low temperature can also negatively affect productivity, which may result in missed deadlines or low output.

If you’re planning on increasing your production or improving how your department works, it’s high time for you to revamp the area and make a few adjustments. Below are the best ways you can improve your office:

Opt for a brighter and more energising colour scheme

Green, blue, red, yellow and white are seen to be effective in improving mood and increasing work productivity in offices. If you currently use dull and dark colours on the wall, consider repainting them with any of the five colours enumerated above. Try incorporating different shades of such colours through the furnishings and decor you add to the room.

Adjust the thermostat

Cold temperatures can deflate your staff’s productivity level because instead of focusing on their assigned tasks, they try to find ways to keep warm or end up feeling sluggish. To keep everyone alert and extra productive, you should keep the thermostat set at 65 degrees Fahrenheit.

Install a party wall

If you have a spacious office, you should consider building a party wall to create separate rooms. This will allow you to designate a specific area for your meetings and work space. Once you have a specific design in mind, you can start comparing party wall surveyor cost estimates in your area. By doing so, you can efficiently set the budget needed for the add-on structure.

Try adding indoor plants

Indoor plants are not only used to add colour to a dull-looking room. They also help improve the mood of workers. There’s a long list of indoor plants you can choose from. A few examples include aloe, lemon balm, bamboo palm, snake plants, African violet, English ivy, and spider plants. Be sure to water these plants regularly to keep them evergreen all through the year.

Change the lighting fixtures

Lighting has a huge effect on the overall wellbeing of individuals. If your staff seem irritable while they work, it may be caused by the dim lights installed in the office. Help them work better by using brighter and more energy efficient lights.

You can choose from a wide array of lighting products such as pendant lights and wall mounted lights. If you’re willing to spend a bit more money on your revamp project, try installing a new window to let in more natural light into the room.

While making a few changes to your office may cost you money, it can help you improve the working conditions of your staff and encourage them to produce better output. The office improvement ideas listed above are just a few examples that you can implement in your own office. Use the tips shared above when you start planning your office revamp project.