Credit Risk Management: How a Debt Collection Agency Can Help You?

If you are an entrepreneur, you must already know about the various risks that come along with starting a business. From hiring the right employees to implementing new business ideas, there are so many things to take care of. And then, there are a few other things which ensure the smooth running of a company. Wondering, what are they? Well, one of the most important ones is managing your credit well.

What most entrepreneurs complain is that they finally write off a few accounts after constantly trying to recover them, simply because of two reasons – either the customer(s) is stubborn or he/she couldn’t be tracked down. So thinking, what is the best solution to this problem? Well, hiring debt collection agencies can solve almost all your problems. They are known for efficient credit risk management, and a reputed agency can also customize the plan according to your business type, customer-base, the age of the accounts, etc.

Still not sure about hiring such an agency? Here is how they can help you.

Purposes Solved: The main purposes of managing the credit risk factor are as follows:
Safeguarding cash, accounts receivables and other such assets
Supporting business sales
Profit maximization
Internal risk management system strengthened
So, these purposes are solved if you choose a popular debt collection agency. Wondering, how will you determine if they are worth hiring or not? Simply browse the internet, shortlist a few of them and then compare the following:

Customer reviews
Online ratings
Services provided
Achievements
Experience
Price charge
Time: Secondly, I am sure that as an owner, you have so many tasks to complete – such as working on the business cycle, improvising the products and/or services, analyzing the demand curve, working on employee welfare, improving the customer-base, creating brand awareness and the list continues. So, why devote this precious time to something like calling up old customers and asking them to pay their dues? Trust me, a debt collection agency can do this in a much better way than you.
Friendly Methods Used: When it comes to managing your credit risk and calling up your customers to pay the money, many lawyers or internal team members tend to get excited or furious. And as a result, the company might simply lose on a few clients. Their market reputation can get hampered as well. But, if you hire a business debt collection agency, they will use friendly methods in order to get the accounts back. Aggressive methods or harassing the customers are totally avoided by these agencies.
Effective Collection and Court Evidence: Last but not the least, these firms not only help in effective collections, but they also prepare and collect court evidence, so that it can be taken to the court of law, if required. Yes, you read that right!
So, now that you know it all, then do not delay anymore and get in touch with a business debt collection agency now! Manage your credit risk factor with them and let your business grow in the best possible ways. Thank me later!

LED Lighting – How to Choose and Buy LED Strip Lights

First of all, you must consider what purpose your LED strip lights are going to serve. Are you looking for high luminosity working lights to your shed or workstation? Or are you looking for decorative lighting behind your bathroom mirror? LED strip lights as working light require a cold and bright light, meaning that the colour temperature should be around or above 7000 Kelvin. Cold and bright lights above 7000 Kelvin will effectively illuminate the desired area and the objects within, increasing your ability to see specific details of the objects, which is why it is preferred as working light. Decorative lighting is the exact opposite. Serving a purpose of making areas and objects appear more visible, while creating a sleek ‘designer’s look’ wherever it is installed. If your LED strip lights should serve a decorative purpose, make sure to keep the colour temperature under 5000 Kelvin. With some LED strip lights, you will have the possibility of dimming the brightness – with these, you should be aware of the maximum voltage load, as these vary from product to product.

How long or wide is the area you wish to illuminate? Get some measuring tape and find out to begin with. When purchasing your LED strip lights, be aware that it might not be possible to have your specific length delivered – you may have to round down. Every LED strip light has cutting points, where you can cut and adjust the length. The most common intervals of these cutting points are 2.5cm, 5cm and 10cm. Some products have cutting points per diode, meaning there is a cutting point after every second, third or fourth diode. If you purchase LED strip lights with cutting point intervals of 5cm, but your kitchen cabinet measures 58cm, you would have to round down to 55cm.

Price and quality goes hand in hand, and when you are buying LED strip lights, the cheapest product will be of the poorest quality on several parameters. High-quality LED strip lights can be up to 20 % more energy efficient than strips of poor quality. High quality strips will also have an up to 25 % longer lifespan than strips of poor quality. This means that spending a more money on LED strip lights of high quality will actually save you money in the long run – both in terms of wattage consumption and lifespan. LED strip lights of poor quality will also be more vulnerable in rough environments, where shocks, dust and moisture can easily ruin the entire strip.

3 Reasons Why Email Marketing Still Rules Lead Generation

Email marketing has been around for years and has repeatedly proved its dependency in engaging audience and generating qualified leads. Even with rise of trends of exciting engagement tactics, email marketing has remained answer of reaching out to your target audience. One of the important reason being that it is a highest ROI marketing channel compared to all the available mediums and tactics.

Over the time, the popularity of email marketing increased and resulted into overflowing inboxes with emails sent from hundreds of thousands of companies to sell their products or services. Subsequently, laws that enabled the customers to unsubscribe became important aspect of the email marketing campaigns and restraints were levied on sending mass emails. Still, 90% of the marketers use email as primary channel for generating leads and it shows the highest customer acquisition rate.

Let’s see some of the important reasons why email marketing is still one of the important medium for qualified lead generation.

Precise Segmentation of the Prospects

With hundreds of thousands of companies using email marketing for generating business, people’s inboxes are overflowing and most of them fail to get their attention because of the irrelevant or poorly customized content.

Prospect profiling done for email marketing allows marketers to segment their target audience and derive details for engaging and customized content.

Some of the prospect profiling characteristics include:

Country
Type of company
Employee strength
Industry
Job Title or function and many more.
So if you are trying to engage Chief Technology Officer (CTO) audience, sending generic technology roadmap content is not enough and it just doesn’t engage the prospects. Instead to achieve this objective you need to focus on industry, company size and its needs. Proper segmentation gives you a chance to customize your content and create tailor made communication system for your prospects.

Email marketing gives you the opportunity to leverage this intel about your prospects and engage them for positive discussion which no other marketing channel provides.

Cost Effective

Emails help your businesses grow without any cost for prints, postage or advertising, they are completely free. With phenomenally low cost (mainly includes compensations for the employed resources) it generates multi-fold returns on every penny spent during the campaigns.

Even it does not requires expensive subscriptions of the advanced automation tools or CRM’s as Outlook integration is sufficient to get the tasks done. It makes sure that your email has reached to the right prospects and is sufficient to initiate the positive discussions with your target customers and ultimately acquire the customers.

Higher Visibility

Marketing and communication mediums like social media, PPC or display ads, telemarketing or any other such tactics, offers limited content visibility and vanishes once your budget is exhausted. Country to this, your email always remains in your prospect’s inbox and he/she can go and see it whenever he is free or has need of your services.

Besides, you can send content in various types (media or text) in order to engage your customers with possible redirection to your website or online communication tools where you can provide sufficient resources to convince your prospect that you are the best in the business.

In brief, email is still one of the best communication medium, it enables content customization backed by detailed research, cost optimization and higher visibility. Building and executing the right strategy with personalized content will make your emails more compelling and target customer attraction. It may be old tactic but remains indispensable and is easy to get started for any type of business.