One of the biggest challenges for small businesses is tracking their advertising efforts and figuring out their ROI (Return On Investment).  A small business may have ads out in any number of mediums such as newspaper, television, direct mail, radio and online.  It can be a good strategy to get the word out about your business in different ways but, the problem then lies in figuring out which ads are pulling their weight.  Without this knowledge, a business can very well be pouring their hard earned money down the drain. 

If orders are coming directly through a website, it can be easy enough to see whether or not the website is producing sales.  But what happens when a website visitor calls and orders over the phone?  How can it be determined that the order actually originated from the website?  And can it be known how they got to the site in the first place?  When a call comes into the business can it be determined that the person saw an ad in the newspaper as opposed to them having heard a commercial on the radio?   Having the answers to these questions will allow a business owner to optimize their advertising by focusing on what works and scrapping what doesn’t.  When they are able to do that, they are on their way to maximizing their ROI and getting the most from their advertising dollars.

One way to determine where sales are coming from is by using toll free numbers for different ad campaigns.  When small business owners couple those toll free numbers with a virtual phone system they will have the tools they need to get the most out of their toll free numbers, track their advertising and in turn maximize their ROI.  Here’s how:

• A virtual phone system will have advanced reporting.  Reports can be broken down by very specific rules such as toll free number dialed, monthly or daily figures, which mailbox extensions the caller went to, how much time was spent on each call and more.
• A virtual phone system allows flexibility in how callers can be greeted.  With the use of different toll free numbers for different ads, some businesses may want to also have different main menu greetings associated with those ads.  Or a business may want all toll free numbers pointed to the same greeting so all callers will hear a consistent message.
• A virtual phone system will allow the person answering the phone to hear which toll free number the caller has dialed.  Some businesses may want to know ahead of time which ad the caller is coming from.
• If a business wants callers from different ads to be dispersed to different locations, a virtual phone system will allow them to do that.  Because the system is virtual, calls that come in are forwarded to any local number the business chooses such as a business line, cell phone, or home phone.

Especially in these tough financial times, it is vital for a business to be able to know what their return on investment is for their advertising.  They can’t afford to be spending money on ads that don’t work.  Using toll free numbers on a virtual phone system will allow a business owner to get a complete picture of which advertising is producing and which is not.

To start maximizing your ROI visit Freedom800.com, a leading provider of toll free number virtual phone systems.

As consumers head into the Thanksgiving holiday, many will begin their online shopping.  Gearing up for the holidays by shopping online will be especially popular this year.  It is estimated that this year will surpass any other year in online holiday shopping.  With the credit crunch people will be looking to get the best deals by comparing prices and buying online.

The increased online activity, of course, has not gone unnoticed by online criminals.  By looking at research from 2007, PCTools has forecast that November 24th has the potential to be the peak of malicious online activity for 2008.  This comes in the form of malware, email spam that invites the user to enter in sensitive details, trojan horses, and a new kind of attack, a file that when clicked will install what is known as a rootkit.  A rootkit opens up the users computer to hackers all over the world.  It is important for consumers to be especially wary of any email that comes in regarding President Elect Barrack Obama as they have already been linked to a number of Trojan Horses and rootkit attacks.

Increased online fraud attacks on consumers can easily translate into an increase in fraud perpetrated on online businesses.  The goal of most online fraudsters is take advantage of the information they have stolen from unsuspecting consumers for their own gain.  This information can include pin codes, passwords and login information, financial information, credit card numbers, etc.  The easiest place to turn that information into a profit is to turn around and use it at an online store or banking institution.  At that point, not only has the consumer been taken advantage of but the online business as well.

With the pending spike in online fraud, it is important for businesses to be vigilant in their online fraud protection.  For the sake of the consumers and their business, online merchants need to re-evaluate their fraud protection and make sure it is as tight as possible.  Here are some things to consider:

• Make sure you are using the most up to date methods.  Many thieves have learned how to get around many of the fraud protection tools that have been around for awhile.  Employ the newest fraud protection tools.
• A low cost fraud protection tool does not automatically mean an ineffective fraud protection tool.  If you are a small business look into fraud protection tools within your budget.  There is no use in using tools so expensive that they eliminate any profits.
• Don’t rely heavily on manual review of orders.  It takes up time your employees could be working on other things and eats into your profits.  As well, it is found that up to 50% of orders that are tagged as fraud are actually valid.
• Employ fraud protection tools that deter the criminal from ever placing a fraudulent order in the first place.  By doing so you will save yourself a lot of time, money, and headache trying to sort orders into the fraudulent and valid categories.
• Make your fraud protection tools visible to consumers and criminals.  It will increase confidence in consumers that wish to do business with you online and deter criminals because they can clearly see that you have taken the steps necessary to block their fraudulent activity.
• Use fraud protection tools that are easy and quick to implement.  The holidays are approaching fast and you don’t want to be stuck trying to configure everything you have in place to accomodate new fraud protection tools.

Online fraud is a crime that hurts the entire online community - consumers and businesses.  While consumers can take steps to reduce the chances of their information being stolen, it is ultimately up to the businesses to make sure that the stolen information isn’t in turn used against them to produce fraudulent orders.  As consumers and criminals gear up to increase their online activity, it is time for online businesses to gear up with increased fraud protection.

Download this FREE whitepaper to learn more about decreasing fraud in your online business: Reduce Fraud: Stop Fraudsters Before They Strike or visit ReduceFraud.com.

Some interesting stats on the fight against online fraud.* 

• The average online merchant uses 5 automated fraud detection tools.
• Merchants manually review an average of 25% - 50% of orders.
• The average reject rate of online orders is 4.1%
• It is common to find that 25% - 50% of all rejected orders are actually valid.
• With a goal of .2% in losses due to fraud, most online merchants have losses of up to 1.4% including chargebacks and credit reversals.

Lessons to take away from these stats:

• If your online business is using 5 automated fraud detection tools and then also manually reviewing 50% of all orders, you need to optimize your automated tools.
• When online businesses report their losses due to fraud, most do not take into account that 25% - 50% of orders that they have tagged as fraud are actually valid.  These are lost profits.
• With losses of 1.4% most online businesses are falling way short of a more acceptable rate of .2%.  The 5 automated and then manual review process that the average business is using is not up to snuff.

Take a look at your fraud protection.  If you find that these stats describe your business, you need to take steps to optimize your fraud protection tools.  Keep up with what is happening in fraud protection and make sure you are using the most up to date tools.  Employ fraud protection tools that allow you to reduce your manual review process.  Optimize your tools to make sure that valid orders get processed while fraudulent ones are weeded out.

Download the FREE whitepaper, Reduce Fraud: Stop Fraudsters Before They Strike, and take the first steps in taking back your business.

* Source: CyberSource 2008 ePayment Management Project Guide

With the real estate market in its current state, reducing costs while maintaining productivity is high on broker’s lists.  One of the ways that they are doing that is to go virtual.  It is a decision that makes sense for many.  The technology available today makes it possible for brokers to cut costs and still run a productive and lucrative business by getting rid of their office.

One of the major expenses for brokers is the brick and mortar office space.  With agents being the mobile professionals that they are the office space is often not utilized enough to justify the overhead.  Real estate is a face to face business.  If an agent is sitting around the office, then they are not out doing business.

If a broker no longer has a brick and mortar location, the issue of communications will be one of the first things that needs to be addressed.  Eliminating the physical location also eliminates the central office number where all of the agents could be reached.  As well, voice mails, emails and faxes no longer have a destination where they can be accessible to the agents.

Technological advances, specifically in the telecommunications industry, makes going virtual a reality for brokers.  If a broker would like to get rid of their brick and mortar location, they will need to give their agents the tools they need to keep productive while maintaining a unified professional image.  This means a professional phone number to give to their clients and prospective clients and access to voicemail and faxes while on the go.  And at the same time, a broker needs to be able to keep their finger on the pulse of their business.

The technology that is going to make the virtual office a reality for a broker is a virtual telephone number that uses call capture technology.  By using call capture technology the broker is able to accomplish a number of things:

• Present a unified professional image for the brokerage.  A virtual number will give the broker one telephone number where all of their agents can be reached even though they are not in an office.  Callers will be able to choose from a number of options presented to them by the automated attendant that has been personalized for the brokerage.  They can be forwarded to an agent and/or have access to property listing information.
   
  A call capture system uses call forwarding technology that will track the agent down at their location, and the caller will never know that they have been redirected to another number.  As well, the toll free number that  comes with the call capture system can receive calls as well as faxes which means agents only have to give out one number for both.
• Give agents access to voicemail and faxes while on the road.  Call capture systems will forward voice mails and faxes to an email address or store them online for later retrieval by the agent.  They can also have their voice mails played to them over the phone or even transcribed and sent to an email address.
• Capture all incoming calls.  Call capture virtual telephone systems use toll free numbers.  Just one of the advantages of using a toll free number is that they are able to capture the caller ID of all incoming calls.  Because the call is being paid for by the broker, they have a right to know who is calling - even if the number is blocked or unlisted.  Often times, call capture systems will also include a name and address of the caller.
• Track advertising efforts of their agents.  Using informational extensions on the call capture system agents can create recordings on properties or even offer free reports to prospective clients.  The goal of these recordings is to inform the callers while generating leads for the agent.  These informational recordings are mirrored into other extensions so that the agents can have the same recording in multiple extensions and advertise the different extension numbers in multiple advertisements.
   
  For example, an agent records information about a property that they are representing on Elm Street in extension 100.  That recording is copied into extensions 200, 300, and 400.  The agent then advertises that property on the sign rider, in a homes magazine, online and on a flier.  When the caller dials into the toll free number and presses the extension found in their ad, they are taken to that specific recording while the agent captures their phone number and what extension they called on.  Looking at reports generated by the system, it will be obvious which ad was pulling in the leads and which was not based on how many times an extension was entered.
• Manage leads coming into the brokerage.  Because the broker can maintain administrative control over the call capture system, they are able to see all incoming calls, generate reports, get copied on call notifications and more.  As leads come into the system the broker can be notified.  They can keep note of the leads coming in, make sure those leads are being followed up on, and/or distribute the leads to agents themselves.

For a broker thinking about going virtual there are a number of things to be considered.  At the top of that list will be how to make it possible for their agents to keep up communications with their clients while maintaining a unified professional image for the brokerage and keeping their finger on the pulse of their business.  A call capture system will allow them to do all of those things at the smallest fraction of the cost of the office space they were renting.

To explore using a call capture system for your real estate business, visit RealtyOne800.com.

“Requiring phone numbers, credit cards and identifying details will provide a roadmap to prostitutes and sex traffickers - so we can track them down and lock them up,” said Connecticut Attorney General Richard Blumenthal in a statement issued Thursday.

Source: SFGate.com

In a recent survey by the United States Federation of Small Business (USFSB) and DYMO, they found that many small businesses are making cuts to stay afloat while their businesses feel the crunch of the tight economy.  No surprise there, right?  Here is a breakdown of where small businesses are making those cuts:

• 23% of respondents have cut their staff
• 36% of respondents have decreased their business travel
• 36% of respondents have minimized their marketing efforts
• 29% of respondents have put a freeze on bonuses and raises

While at the same time many small businesses, 45%, are looking for ways to increase productivity.  If you are going to cut staff, it makes sense that you will have to figure out a way to make the staff that you have left more productive to pick up the slack.  Many small businesses are looking to technology to help them become more efficient and productive.

What is important to remember when looking for technologies to help you be more productive, is to not over-buy on tech products that won’t deliver what you need.  There are so many gadgets out there that promise to make your business better, more efficient and more productive.  However, if they don’t fit your needs, it will do absolutely nothing for your business.  Here are 4 places to look when deciding whether utilizing different technologies may be right for your business.

1. Data Storage.  Some small businesses may find that their employees spend too much time searching for reports, forms or other data that they need.  If this is the case, an investment in network hardware and/or software would allow employees to pull any information they need directly from the network.
2. Communications.  Other business owners may find that their mobile employees could work more efficiently if they had Push To Talk technology enabled on their cell phones.  Or that they could benefit from a virtual phone system that would route their calls to them on their cell phones when they are out of the office handling other tasks.
3. Overhead of Real Estate.  Some small businesses may realize that their employees really don’t need to be in an office setting to get their work done.  Sending their employees home to telework or telecommute will require certain technologies to make that happen.  For one they would need a network where employees could have access to data.  Secondly, their communications system would need to be revamped.  Advances in telecommunications make this relatively easy to do.  They could use a hosted or virtual pbx that would allow all the calls that come into the business to be routed to the appropriate employee or department.  As well, these solutions usually still allow employees to transfer calls to other extensions, have voicemail, utilize an auto attendant to direct calls, and many other features that are similar to the standard phone systems that they are used to.
4. Customer Relationship Management.  Many businesses already use software like Salesforce, Act or Goldmine to keep track of clients and leads.  If your business is one that needs to communicate frequently with your customers or keep track of leads that you are working on, CRM software is definitely worth the investment.  This technology will enable you to save time and money by not going over ground that has already been covered, keep better track of leads and money making opportunities, as well as keep in contact with your current clients through automated processes such as email drip campaigns.  All of these things will increase efficiency in your customer relations which in turns increases productivity. 

Technology can allow a small business to increase their productivity by organizing data, by expanding their communications, allowing employees to work from home, and streamlining their customer relations.  However, it is important to take a hard look at your business to figure out what technology is going to really help you instead of just buying the newest tech gadgets to hit the market.

To explore using a virtual PBX to increase productivity in your small business visit Freedom800.com.

As businesses continue to feel the pressures of tough economic times, many are taking a look at teleworking options for their small businesses.  Actually, teleworking has been gaining popularity in the last few years without the current state of the economy.  As an indication that the practice is becoming more mainstream, the number of firms that have formal policies on teleworking in place has grown.

According to a March 2008 report from consulting and systems integration firm CDW Corp., the number of companies with formal telework policies is up to 65% in 2008 versus 40% last year and the number with plans to extend technical support to teleworkers is up from 49% to 76%.  CDW also stated that 36% of private sector organizations now permit teleworking, and 14% of employees are actually engaging in some form of telework.

Companies have stated some of the benefits of teleworking to be:

• Allows employees to be more flexible, increasing productivity.
• Reduces overhead costs.
• Reduces the companies carbon footprint.
• Happier, more productive employees.
• With increasing gas prices, employees are able to save money without the daily commute.

A big part of the equation that has allowed teleworking to take off is technology.  With advances in telecommunications, teleworking is a viable option for businesses looking to cut cost without cutting productivity.  Two of the technologies that enable businesses to employ a telework program are virtual PBX and hosted PBX solutions.  The businesses needs will determine whether the virtual or hosted solution will be the best fit for them.

While the virtual solution routes calls to existing telephones such as an employee’s cell or home land line, the hosted solution will include the telephone that can be placed at the employee’s location.  As well, the hosted solution will take advantage of VoIP, reducing call charges and eliminating the need to install additional phone lines in employee’s homes.  These are just a couple of the differences in the way virtual and hosted PBX solutions work.  If you are considering a telework program for your business, it is always advisable to speak with a consultant to make sure you are getting the right solution for your needs.

For more information on how PBX solutions enable businesses to develop a viable telework program visit Freedom800.com.

Now more than ever consumers in the market to buy or sell a home are looking for help in how to go about doing that.  Many homeowners are on the verge of foreclosure while others may be looking to take advantage of the low housing costs to upgrade or add to their property.  The top priority in these consumer’s minds is to make sure they are making informed decisions that won’t come back to bite them later on.

At the same time, it is becoming increasingly difficult for real estate agents to generate the leads they need in this depressed market.  When you combine the 2 problems - the consumer’s need for information and the agent’s need for leads - you will find a solution that benefits both parties.

 
Just a few short years ago, consumers needed to consult with a real estate agent to get information about houses for sale, pricing, neighborhood and surrounding community features, how to choose the right mortgage, etc.  Today, consumers look on the web.  So as an agent, it would make sense to ensure that you are source for the information they seek and that you can be found where they are looking.  Helping consumers by becoming an information provider is a win-win situation for the consumer and the real estate agent.  Here are just 3 of the benefits of becoming an information provider in this tough economy:

1. Positioning yourself as an information provider is a great way to generate leads.  Agents can generate leads by offering free reports through a toll free call capture system.  This way when consumers call in to receive your reports you are able to capture crucial information needed to start developing that lead into a client.  You will be able to capture their name, address, telephone number and know what they are in the market for based on the report requested.
2. As an information provider, you can begin to build rapport and trust until the consumer is ready to take action.  Many consumers in the information gathering phase will not be ready to act right away.  By putting yourself in front of them early in the decision making process, you can start to build a relationship with them.  Then when they are ready to make their move, you will be top of mind.
3. An informed client is one that already knows what they want.  As real estate agents know, a client that already knows what they want is much easier to work with than one that has no idea what they are looking for.  Keeping them informed and up to date on properties available, options for financing, ideas for how to get their house sold fast, etc, will cut down on the time from contract to close.

The current state of the real estate market is tough on both consumers and agents.  Real estate agents are in a position where they can reach out to consumers and offer a helping hand.  With their knowledge and expertise they can help consumers make informed decisions while helping themselves weather this real estate recession.

Learn more about becoming an information provider using a call capture system at RealtyOne800.com.

Many small businesses are feeling the pressure of the down economy.  It is hard to know what to do and where to cut back when the money isn’t coming in.  The obvious first place to look when trying to find places to cut costs is overhead.  Overhead is a very broad term, basically everything that it takes to run your business.  A couple of the major costs included in overhead are office space and employees.  That is why many small businesses are looking for ways to cut costs in these areas by downsizing.

The problem with downsizing is that you can lose your efficiency and your ability to serve your customers.  When you no longer have enough employees to tend to your customers and other various tasks and responsibilities, the gears of your once well oiled machine of a small business can get stuck.  That’s why many small businesses are switching to virtual telephone solutions.  Virtual telephone solutions allow small business owners to maintain the level of efficiency and customer service that they have always had while reducing their overhead costs.

Virtual telephone solutions are also commonly called virtual PBXs.  This is because the solutions have the same features that small businesses are used to with their standard PBX telephone systems in their brick and mortar offices but, without the high overhead costs of bulky equipment and regular maintenance.  And as an added benefit, the virtual PBX will have additional features that are not available with a standard phone system.

Small businesses are taking advantage of the virtual PBX’s flexible features to reduce their overhead costs in a number of ways:

1. They are using the follow me call forwarding features to increase their flexibility of where and when they take their own calls.
2. They are taking advantage of the virtual PBX call forwarding features and sending their employees to work from home.
3. Studies have shown that people are willing to agree to lower pay if they are allowed to work from home.
4. With employees working from home there is no need for a large office space.
5. Small businesses are able to eliminate the need for a receptionist with the virtual PBX’s automated attendant that will route incoming calls to the appropriate department or employee.

All of these benefits boil down to lower overhead costs for the small business owner.  At the same time, the small business does not have to sacrifice efficiency and quality customer service in order to cut their costs.  Their customers are still being taken care of by the same helpful employees that they are used to.  The business owner now has a phone solution that allows them more flexibility and increased efficiency.  They are free to attend to the things that need to get done and be confident in the fact that if their customers need to reach them, their virtual PBX will forward their calls to wherever they are.

In these hard economic times small businesses are being forced to make some tough decision.  One of the biggest decisions is where they can cut costs without sacrificing the integrity of their business.  Many are turning to a virtual PBX to help them do just that.

To get more information on how a virtual PBX can help you maintain quality customer service and efficiency in the wake of a downsizing, visit Freedom800.com.

If you are in the real estate industry, you don’t need me to tell you that the market is still continuing its downward trend.  And according to Patrick Stone of The Stone Group, real estate professionals should expect at least another year until all markets have corrected.  And even then, there will only be lateral movement for 3-4 years leaving the market flat.

As for the mortgage industry, again we are not yet through the crisis.  In an interview with InmanTV Yves Smith, head of Aurora Advisors and author of the popular blog NakedCapitalism, explains that if you compare this real estate recession to the one back around ‘90-’91, you will see that it lasted 15 quarters, and in that the Case-Schiller Index only dropped 5% while it is already down 19% since 2006 and we are only part way through the mortgage crisis.  Other experts estimate that the Case-Shiller may drop 30% by the time it is all said and done.  Another indicator that this mortgage credit crisis is not over yet is that there are still many weak borrowers out there that are likely to have difficulties over the next couple of years.

As grim as the outlook appears agents, brokers and loan officers are not going down without a fight.  Many are turning to technology and the web to help them through the tough times.  Some of the tools they are employing include:

• Websites to enable consumers that are still buying and selling during the recession to find the information they need about available properties, neighborhoods and communities of interest to the buyers, and services that can be provided by the agents.
• Blogs to keep consumers informed of the market conditions, make informed decisions about their particular situations, and to become a source of helpful and timely information for people in their time of need.
• Call Capture to generate more leads by employing call capture toll free numbers in all of their advertising (ads, websites, sign riders).

As many real estate agents and brokers struggle to keep their businesses afloat during this recession, they are finding that by employing a little creativity and by taking advantage of the technology available to them today, they will be able to generate the leads and close the deals they need to ride out the slide.