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Akoni selected for the Accenture Fintech Innovation Lab

The Akoni team is excited to announce we are one of five Retail Banking fintech startups selected for the Accenture Fintech Innovation Lab in London, amongst the cohort of twenty across categories including CIB, Insuretech and Tech4Tech.    The Lab is a three month accelerator and mentorship programme uniting fintech startups with global financial services institutions, including HSBC, Barclays, RBS, Lloyds Banking Group, Citibank, Santander, Credit Suisse, Goldman Sachs, amongst others.      The programme focuses on meeting the top execs and decision-makers at partner banks as well as legal, pitching and proof of concept mentoring.

Further information on the programme and the other startups selected can be found at https://newsroom.accenture.com/news/fintech-innovation-lab-london-kicks-off-largest-programme-in-its-five-year-history.htm

The Akoni team is ensconced in our new offices, and surrounded by an awesome environment and passionate teams, with the bonus of incredible London views.    We are looking forward to the acceleration of the experience!    Our team is working on several product releases and collaborating with various new partners over the next few months, aiming to deliver value for the UK’s 5.3 million businesses!   We are already thoroughly enjoying the shared experiences with other startups, the awesome Accenture lab team and our mentors and banks.

About Akoni:

Akoni is an innovative fintech startup which aims to improve financial outcomes for businesses while at the same time providing banks with benefits including customer loyalty and increased margin through Basel III LCR reductions.

The Akoni platform is a digital cash treasury manager and uses technology and data science to provide customers a cash portfolio manager, business marketplace which is updated daily, and personalised cash report and dashboard, as well as innovative cashflow projection tools including algorithm-based allocations, automated monitoring and utilising statistical techniques and neural networks for projection outcomes.

Akoni’s chairman and lead investor, Duncan Goldie-Morrison, is a seasoned banking CEO and Chairman. Mr. Goldie-Morrison  was previously CEO of The Americas Credit Agricole CIB, Head of Global Markets and Asia, Bank of America, Chairman of Newedge Group SA and Newedge UK, President Ritchie Capital Management and Director Kleinwort Benson Bank. The business is further supported by the Deputy Chairman, Yann Gindre, previously CEO of Natixis UK and the Americas and financial services veteran.

Founder and CEO, Felicia Meyerowitz Singh, explains: “Scientific tools are changing the way we work in financial services, right down to conventional cash management activities that are traditionally based in Excel.  Akoni plans to be a key leader and driver in delivering these changes. At last, corporates and SME businesses have access to similar cash management facilities to institutions with in-house treasurers and Treasury management systems. We are delighted to be part of the Accenture fintech lab, working with people and organisations of such calibre and looking forward to the programme innovation drive for our business.” 

Banking sector undergoes disruption

The UK banking sector is already facing a range of issues, including ‘banking as a service’, ongoing cost reduction pressures, opportunities and challenges as a result of CMA requirements, open APIs and PSD2, and the Challenger Banks bringing a new approach to services and customer solutions. Businesses are part of this change, with the latest Accenture 2020 SME Banking report showing that 70% of businesses are prepared to pay non-banking customers for financial services.

To date, fintech innovation has been focused primarily on consumer banking for B2C and lending for B2B. Now, for the first time, Akoni brings technology benefits to UK SMEs and businesses for cash treasury management, with further business products planned in future roadmap.

For more information, please contact Felicia@akonihub.com

Akoni helps businesses make the most of their cash. Follow us on Twitter @akonihub or connect with us here.

Happy New Year!

A new year presents new opportunities – for a business and for us as individuals.   Provide the time and reflection relating to your plans for the upcoming months ahead and start with enthusiasm and focus.

Reflecting on the wellbeing of your enterprise as well as yourself and your team – can your strategic thinking also include a healthier work life balance ?  Have a read of our recent blog “10 Quick tips on juggling Parenting and Business” – there are tips for everyone, even if you are not a parent.

Engagement and inspiration, from yourself and within your company, starts with communication.   Sharing your business plan with employees and ensuring they are involved in the planning and ongoing decision-making ensures buy-in for the company goals., where they dedicate most of their time.

Start with renewed energy after the festive break.  Stay focused on your goals, get to know your employees, be passionate and open to the experiences of the year ahead. Enjoy both your professional and personal life and dream big – embrace 2017 with excitement!  Happy New Year!

Akoni helps businesses make the most of their cash. Follow us on Twitter @akonihub or connect with us here.

 

Merry Christmas from Akoni

December is a wonderful and festive time of the year.   The excitement of the season  – meeting up with family and friends and taking time out from our busy schedules.

For our team at Akoni it is also a time to reflect on a busy and exciting year.

It can also be a difficult time of year for those of us who run small businesses. Staff shortages due to annual leave, increased product demand with seasonal customer expectations, and where not managed appropriately, stress remains until Christmas Eve.

Grab this opportunity  to enjoy your festive season with loved ones, sit back and reflect on your year as a business , how far you have come and look forward to the New Year ahead.   This time of the year encourages everyone, whether you celebrate Christmas or simply enjoy the festive season, to absorb the emotion and wonder of the season.   Our entire year is spent moving forward, progressing and actioning a long to-do list.    If we stand still a moment, we hear the cold winter chill beckoning to slow down, reduce our workload, take a deep, relaxing breath, and take care of the important aspect of life.

We would like to say thank you to everyone who has been involved in our journey this year at Akoni.    We have much in store for next year, kicking off in early January. We look forward to 2017 and what it holds for us as a business.

We wish you all a very Merry Christmas and Season’s Greetings, and a great start into the New Year!  We are ready to embrace our exciting year ahead, and eagerly working towards our next phase of inspiration and innovation for businesses.

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Akoni helps businesses make the most of their cash. Follow us on Twitter @akonihub or connect with us here.

 

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10 tips to avoid late payments and improve cashflow

Here at Akoni we are aware that late payments are really stressful for small businesses trying to keep the cash flowing. Late payments hinder a company’s ability to expand, even when sales are high, as they spend their valuable time chasing money owed. SMEs are sometimes nervous to chase payments for fear of jeopardizing their relationships with clients. Here are 10 tips on how to reduce late payments and help ensure a healthy cash flow.

  1. Know your customers

Credit checks are valuable and can save you a lot of time and money in the future. Checks can be made easily and quickly online. You can also use credit checks on long term customers where you suspect they may have issues paying their bill.

  1. Always be clear about your payment terms and conditions

Make sure these terms are clearly printed on your invoice to avoid any ambiguity, easily available on your website and readily available to email out to a client when needed. Check with your trade association for typical terms and conditions used in your industry. Before entering into the contract ask your legal team to review the conditions

  1. Have a payment remind process in place

Once payment has not been received on the date due, call the customer and follow up with a written reminder that payment is due within a reasonable timeframe.   If the customer still does not pay then send out a warning.   Eventually you will need to send out a formal written warning asking for payments within two days before legal proceedings are followed.

  1. Introduce Flexible payment options

Pre-agreed instalments are an excellent way to introduce flexible payment options to your customers.

  1. Make a courtesy call

If they have had a rather large order, call them before payment is due to make sure everything was received and there are no issues. This should prevent any delays in payment and is seen as good customer service.

  1. Incentivise customers with early payment discounts and late payment charges

Supplier invoice payment terms often include an incentive to pay early by offering an early settlement discount if the invoice is paid before its due date. For example a 1% settlement discount if paid within 10 days. The full amount must be paid within 30 days. The late payment of Commercial Debts (interest) Act 1998 allows small businesses with less than 50 employees to claim interest on overdue payments.

  1. Deliver all invoices and statements electronically

This will ensure that the customers receive the invoice in the quickest time. There is a record of when the invoice was sent, received and read by the customer. Electronic delivery also frees up staff to work on chasing late payments instead of printing, writing, stamping and posting the invoice.

  1. Make sure your invoice is going to the correct place

Always ask for a purchasing order number or a name where the invoice can be sent directly to, to avoid it being lost in the mailroom, or work mailbox.

  1. Always get your customer to sign receipts

In the first instance ask for a company stamp on the receipt, then a signature from the customer. This verifies that the customer was in agreement with the order.   Ensure that they have the correct authority to place the order.

  1. Bill quickly after delivery

To avoid any delay in payments, don’t forget to include all important information on the bill, your company payment details and the customer’s full details.

Whether you are a new startup company or a company that has been running for years, its good practice to review your late payment procedures regularly, to get on top of recurrent late payment offenders and avoid new ones. 

It’s important to be better organised as a company- to control cashflow and avoid late payments and bad debts.

Akoni helps businesses make the most of their cash. Follow us on Twitter @akonihub or connect with us here.

 

Heard about Small Business Saturday?

Apples

Small Business Saturday has been taking place on the first Saturday in December since 2013. The campaign provides free training workshops, celebrates small business successes, and encourages consumers to support small businesses in their community by ‘shopping local’. Although it focuses on one day, the aim is to change mindsets so people choose small businesses all year round.

This year’s figures are not yet announced, but on Small Business Saturday in 2015, customers spent £623m with small businesses – an increase of 24% on the previous year. #SmallBizSatUK trended at number one all day, with over 100,000 tweets sent, reaching over 25 million people. And over 75% of local council supported the campaign, for example, by providing free parking.

100 small businesses were highlighted in the 100 days running up to this year’s event on 3 December. They attended receptions at Downing Street and The Treasury Drum with the Chancellor of the Exchequer, and benefited from exposure on social media and in the local press.

One of the featured businesses in 2016 was Haven’t Stopped Dancing Yet! – a pop-up disco for people who love soul, funk and disco music from the 70s and 80s. Founded in 2010, they have performed in South East London and Birmingham, with vinyl DJs, dance line-ups, retro sweets and fancy dress prizes. Ad agency, JWT, called them a “trailblazer” for targeting the under-served 50-something market.

Spice Kitchen in Walsall is a mother-and-son team producing home-ground spices and spice mixes sold online via Etsy and Not On The High Street. They were also finalists in the Guardian Small Business Showcase competition, won a Great Taste Award in 2015 for their garam masala, and received the BBC Producers’ Bursary Award 2015 for up-and-coming food producers. The owners say customers love the products, and the fact that they are a family-run business.

Marvel Plumbing was one of the first businesses to be highlighted in 2016, and organised a fun event on Small Business Saturday to bring other businesses together and expose them to the local community. The company has grown from one man-and-van in 2012 to eight vans and four full-time office staff. They have also been asked to write and deliver part of the gas course for Southgate and Barnet College, so training future gas engineers to meet their high standards.

Small Business Saturday is a non-commercial initiative headed by Director Michelle Ovens MBE. It covers all types of small business, and is free to join. The campaign is supported by high-profile sponsors including American Express, Federation of Small Business, and Vistaprint.

This year, they have even launched a free cookbook containing recipes inspired by small businesses.

Find out more at smallbusinesssaturdayuk.com

Akoni helps businesses make the most of their cash. Follow us on Twitter @akonihub or connect with us here.

What the Autumn statement means for your business

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Chancellor, Philip Hammond, has delivered his first Autumn statement. Most announcements came as no surprise, with core messages about continuity of financial stability and control of public spending.

The statement was considered and concise, which is encouraging at a time of uncertainty. However, business groups interviewed by the Guardian didn’t consider the statement bold enough, and were disappointed that it didn’t tackle business rates or provide support following the Brexit vote.

Here are some of the headlines:

Impact on business

To reinforce Britain’s competitiveness while negotiating Brexit, Hammond confirmed he will stick to the business tax roadmap that was announced in March, with Corporation tax reducing to 17% and a reduction to business rates worth £6.7bn.

Funding

In an effort to boost the long-term economy and reduce the ‘productivity gap’, £23bn is going into a new National Productivity Investment Fund, including:

  • £7.2bn to tackle congestion and transport
  • £7.bn to support house-building (including £3bn Home Builders Fund to unlock finance for over 200,000 homes)
  • £4.7bn towards science and innovation
  • £2bn to accelerate construction on public sector land
  • £1.1bn for local infrastructure
  • Over £1bn for digital infrastructure (to encourage the private sector to roll out more full-fibre broadband and support trials of 5G mobile telecoms. What’s more, full-fibre infrastructure will benefit from 100% business rates relief for five years from April 2017.)
  • £27m development funding for the Cambridge-Oxford growth corridor (as recommended by the National Infrastructure Commission)

To make Britain the ‘go to’ place for science and innovation, these sectors will also benefit from an extra £2bn of funding per year for business research and development.

£400m is being invested into Venture Capital Funds from the British Business Bank, to:

  • Unlock up to £1bn of investment in innovative firms planning to scale up
  • Review to identify barriers to access to long-term finance for growing firms
  • Funding from the Department for International Trade for FinTech specialists

Benefits in kind reformed

Tax will become payable by employees who sacrifice salary to receive ‘benefits in kind’, except:

  • Cycle to work scheme
  • Ultra-low emission cars
  • Pension savings
  • Childcare

HMRC expects to gain approximately £2m through this measure.

Economic forecasts downgraded

As a result of the EU Referendum decision, economic growth is predicted to be 2.4% lower than previously expected. Here are the revised OBR forecasts:

  • 2016: 2.1%
  • 2017: 1.4%
  • 2018: 1.7%

Borrowing increased

Hammond made a distinction between borrowing to cover the deficit and borrowing to invest, and at £122bn, Government borrowing will increase significantly.

New fiscal rules

To protect against bumps during Brexit, Hammond announced three new rules:

  1. Cyclically adjusted borrowing to fall below 2% by the end of this Parliament, and public finances to return to balance as early as possible during the next Parliament
  2. Public sector net debt to fall as a share of GDP by 2020
  3. Welfare spending to be capped

Just About Managing (JAM)

Due to the state of the economy, Hammond avoided this phrase coined by Theresa May, but did announce:

  • Freeze in fuel duty
  • Offset the rising cost of foreign holidays
  • Ban on letting fees being charged to tenants
  • Income tax threshold rising to £12,500
  • Higher rate threshold rising to £50,000
  • Minimum wage rising to £7.50 (in 2017)
  • Possibility of removing the pensions triple-lock (after 2020)

Budget moved to Autumn

To allow time for tax changes to be made in advance of the tax year, the Budget is moving to Autumn. That means no more Autumn Statements – from 2018, there will be a Spring Statement instead. At least that means major changes will only happen once a year.

If legal hurdles are overcome and Article 50 is triggered at the end of March 2017, the final Spring Budget will be a significant measure of the nation’s fiscal position.

Going forward

Although there are many challenges and changes to the economic climate, the Government is committed to boosting business in the UK.

Philip Hammond said: “My priority is to ensure that Britain remains the number one destination for business – creating the investment, the jobs and the prosperity to protect our long-term future.”

Akoni helps businesses make the most of their cash. Follow us on Twitter @akonihub or connect with us here.

10 Quick tips on Juggling Parenting and Business

All of us with families have the constant struggle of balancing our work and family life.   Even when we are passionate about and consumed by our work, it is something we continuously think about and consider how to maximise, to focus on the important aspects of both.   Here at Akoni we have the same dilemma and thought we would note a few  helpful tips in navigating this lifestyle.

1. Family and Business can work – don’t give up on your dream

Focus on the positives – think about how your career or your business is benefiting your family.  As long as you prioritise what you need to achieve and mange your time and to get the balance right, you will feel more confident with yourself and your decisions.  A happy mom or dad means a happy family.

2. Prevent Chaotic Mornings and Evenings

You don’t need to be in your office every morning before sunrise, in fact most entrepreneurs say having morning breakfast with the family helps the children to feel happy.  If they aren’t happy then you may feel frustrated and this will have a knock-on effect throughout your day.

3. Perfection is not expected

Particularly for women, the perfect house you had before children doesn’t need to still be perfect, rather keep on top of you household chores with some of the tips below and allow yourself time to be with your children, the condition of your house can take priority once your children have gone to college and when you will have time to appreciate it more! For all us, don’t worry about perfect time keeping take 5 mins on the way into work to stop and get yourself a latte or a juice, or just walking to work instead of driving or taking public transport can give you a chance to recharge.

4. Consider Hiring help

Hiring help in the home is a great alternative to bringing balance back into the work-life scale we all battle on a daily basis.
A survey recently found that one in three British Households now employs someone to help with chores, spending £26 billion a year on help in the home. Not everyone can afford full-time help – even a bi-monthly cleaner will help you feel a little more in control. You can also devise a system for tackling housework to help you handle this seemingly never ending task. Get your children to pitch in – small children as young as 3 can help with household chores. Share tasks with your partner – you have both had a long day, share the workload at home.

5. Spend Quality time with your children

Making time for your family and children is crucial and allows you to nurture your family dynamic. Create activities that regular fit into your schedule and avoid talking about work or checking emails and messages during these times. Ask older children for their activity suggestions and try to meet their needs. In the end it doesn’t really matter what you do as long as you are enjoying time together.

6. Designate a “no work zone” in your home

Depending on the layout of your home – find a no work zone.  The lounge is usually a good place to relax with a glass of wine or cup of tea after a long day, put your feet up and chat to your partner, play with your children, or watch a movie together.  If you have a strict no work zone within your living room, it will stop the need to bring your laptop or phone with you leading to you not completely relaxing or engaging with your partner or children.

7. Create time boundaries

Be disciplined and set time limits to check emails and make phone calls, things you can do whilst your children are sleeping. Try to avoid multi-tasking, especially when spending time with your children.  A good rapport with co-workers is great and beneficial, however you can have this without numerous email exchanges, extended lunches and casual internet surfing. Focus on your tasks at work and use breaks and lunchtimes for chats with co-workers, thus enabling you to have more time with your family once you are at home.

8. Don’t overlook the benefits of childcare

There is no way you will be able to do your job properly if you are worried about your child’s wellbeing whilst you are at work. Find childcare that both you and your child will be happy with.  Obtain recommendations from friends and families or online forums, write a list of important criteria and schedule time to meet carers or visit nurseries.

9. Be fully engaged

Your priorities and time management rely on you to be fully engaged. If you look at your email whilst you are having breakfast with your children, this will create a half-heartedness engagement with both your children and your work.  Ideally aim for your complete presence in all situations. Rather use the time you have specifically set aside to check emails, speak to colleagues and spend time with your children, helping you to be more focused and more productive.

10. Know when to unplug and how to relax

Limit your screen time to first thing in the morning or intervals during the day which you have decided are the best for your daily tasks. Again rather have time allocated to checking emails and working so that you know you can be 100% focused on these tasks and know that after that is done you allow your self to action anything that requires immediate attention. Do the activities which relax you – sports, running, having a long bath, spending quality time with your partner. If you don’t unplug, you will find your daily tasks will then overlap important family time and you will not be fully engaged in either.

It is important that we all feel we are spending the most possible time with our family. We hope the above pointers helps you to balance out your business and family over this festive season. Enjoy the seasonal break!   If you have any time off,  focus on presence and if you don’t, remember that your children and partner will appreciate any time you are able to give them.  Aim  to fully recharge during quieter moments, reflecting on moments of priority and importance, in order to start afresh in the new year. 

Akoni helps businesses make the most of their cash. Follow us on Twitter @akonihub or connect with us here.

 

Great British Brilliance: From 15 to 67 Medals in 20 Years

Historic. Epic. Astonishing. Dazzling. Awe-inspiring. Extraordinary. Mesmerising. Heroic.

Words seem so inadequate when trying to describe what most of us are feeling about Britain’s performance at Rio2016.

The spirit of the Brazilian Olympics started like a slow burning flame. It was most likely sparked here back home on Day 2, when 21-year-old Adam Peaty, won gold for the 100m breaststroke. Then on the same day, Jazmin Carlin, won a silver medal in the 400m freestyle. The days that followed fanned that Olympic spirit flame until it became wilder and swept more and more of us along with it. There was something for everyone – action, drama, thrillers and lovestories – all unfolding live by the second, and it was addictive.

On the second last day of the Games, when we were already gasping at the dreamy results, we were in for more treats:

First, Liam Heath won Gold in the men’s kayak 200m sprint.

… Shortly after that, Vicky Holland was awarded a Bronze medal after her gruelling race in the women’s triathlon,

… then boxing flyweight, 33 year old Nicola Adams, won Gold – becoming the first British boxer to retain an Olympic title in 92 years.

… Next came Bianca Walkden, with a Bronze medal, beating Morocco’s Wiam Dislam.

… Then came one of the highlights for millions around the globe: possibly the greatest TeamGB athlete of his time, Mo Farah ran to clinch his incredible “Double Double”. Witnessing this sporting icon trip and then get back up to take the men’s 5,000m gold medal, was enough to bring many to tears. Indeed, Mo Farah made Olympic history by winning the 5,000m and 10,000m in both the London and Rio games.

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Mo Farah wins the 5,000m and 10,000m Mens track events, achieving his “Double Double” gold

But there was more to come. Team GB women’s 4 x 400m relay, won a bronze medal – Ceilidh Doyle, Anyika Onuorh, Emily Diamond and Christine Ohuruogo bringing it home in style.

Super heavyweight boxer Joe Joyce’s silver medal brought the total medal count for Great Britain to an outstanding 67, second in the world to the USA – even beating China, and smashing a 108-year-old national record for most medals won.

Compare that to the 15 medals won in 1996 – which included a solitary gold medal won by Sir Steve Redgrave and Sir Matthew Pinsent, who won the men’s coxless pair in the Atlanta Games.

… That’s a mere 20 years gap between 15 and 67 medals.

Have a look at the detailed TeamGB Rio Olympic 2016 medal table here.

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Great Britain’s medal takings at the Olympic Games Rio 2016 – BBC

For any nation competing, success at the Olympics demands a focussed plan and sufficient funding to implement this plan. Funding is essential to nurture athletes from a young age, through specialist training programmes, by providing subsidies, research, facilities, equipment and expert trainers.

In Britain, the establishment of the National Lottery was pivotal to this plan to succeed, and it started funding the World Class Performance Programme – which was implemented in 1997, after the 1996 Atlanta Olympics result. The British have increased spending on Olympic sports from £5m a year before the 1996 Atlanta Games – when the UK came 36th in the medals tables, to £350m (€410m) by Rio 2016, where it came second.

Regarding focus: The Olympics is a competition where you need to be the best in the world to even qualify. Being a Jack of all Trades and a Master of none is simply not an option here.

After the 1996 Olympics, it was decided to concentrate funding and focus only on sports that we performed in. This decisive move, that caused much controversy worked. By focussing on what British teams had an advantage at already, they already had a foot on the road to a medal. The Brits also concentrated on sports are not hugely popular or widely played – this gave them more of a chance of a medal with less competition – pretty clever “niche market” strategy.

In 2006, the year after London won the right to host the 2012 Games, UK Sport became responsible for all performance funding, which is reflected in figures that have risen from just under £60m for Sydney to the current total for Rio.In essence, every citizen has donated £ 1 per year to the training of this team.

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After an heroic battle, British champ Andy Murray beat Juan Martin del Porto to win gold in the Men’s Singles tennis event

Rio Olympics – the connections that will keep giving:

On the day of the opening ceremony of the Rio Olympics, UK trade minister Lord Price said in his speech at British House in Rio that the Olympic Games reminded us all that we are equals united by sport, and that this extended to other areas. He wanted Brazilian investors to know that the UK was “open for business”. He had lead the first trade mission to Argentina in May, before the brexit result was announced, and had said at the time that the growing economies of Latin America offered huge opportunity for British business.

UK suppliers won contracts in excess of £ 150m for the Rio Games, confirming that small firms are keen to trade with South America. FSB national chairman, Mike Cherry has said that the number of small businesses exporting to the continent have increased by 50% over the past five years.

Latin American countries have expressed an interest in striking free trade deals with the UK in the wake of Britain leaving the EU, and Brazil’s foreign minister, José Serra, said last month he would look to open negotiations via Mercosur, the five-member trading bloc.

With our team’s commendable behavior and performance throughout the Games, the cultural diversity in the team and diverse talents represented, Britain has really made it clear to the rest of the planet that this small Great island is Ready to do Great Business with the world.

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Team Great Britain – Thank You from every one of us, united as a nation, claiming our place on the podium at the Greatest Show on Earth

Akoni helps businesses make the most of their cash. Follow us on Twitter @akonihub or connect with us here.

 

 

 

 

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Email Marketing Basics for your Business

One could not have failed to have noticed that the festive season is upon us once more, bringing with it the annual year end frenzied product push. Our team at Akoni thought it particularly relevant to highlight ways in which your business can optimise your email marketing to maximise sales from existing subscribers or prospective client bases.

Email marketing is the most powerful tool of a marketer – it is easy to measure ROI and is a tool that enables business to reach the customer directly. It is often mistakenly assumed in marketing that a measurement of deliverability is simply the proportion of emails that were ‘accepted’. If an email does not bounce back or is not rejected, it does not necessarily mean that it has been delivered.

Delivery rate is a calculation of mail sent minus the volume that bounced. However, this is quite misleading as it doesn’t take into account the emails that are simply filtered into spam files or are ignored. Overall, deliverability is making sure you are doing what you can to put yourself in the best position to be actually seen by your subscribers, says Tom Corbett of Experian.

70 per cent of mail sent globally being considered spam by Internet Service Providers (ISPs), which have developed settings which the customer can adjust to suit their unique inbox preferences. These filters massively reduce the volume coming to an inbox. However, the interpretation of spam differs according to personal preference. As a result, what is becoming increasingly important is personalisation in email communication – making your email wanted is the key to a successful email campaign.

Know Your Client

Up to date research into customer behaviour and market analysis will show you where and how you should target your audiences effectively. This will help hone your campaign and make sure it appeals to the right group. This is the most important step in any marketing campaign by far, as everything starts here.

Make Customers Feel Special

Creating a feeling of belonging to an exclusive club or a select group is an extremely effective marketing tool. People are naturally competitive, and want to be made to feel special, the chosen ones – more superior. By making sure that your clients are given VIP passes, or exclusive prices or a top-class service reserved for a few, you are immediately tapping into a very powerful psychological tool by stroking their ego’s, catching their attention and creating a bond.

A Clear, Simple Message – Repeated

Know what your company does, what they stand for and why the customer needs your product. Get your branding right. Keeping to the basic core with simple, direct messages.Repeating the lines that are part of your branding core, that won’t change and are easily associated with your brand will create a sense of familiarity and a sense of trust for your customers. They will think of your brand when they hear similar words, or catch phrases. Own your taglines.

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Always focus on the customer. Personalised campaigns are becoming more and more essential.

Well Presented

Employ a designer or use the templates provided in tools available. Design is essential as we are all far more likely to read visuals than words. Make sure that you tap into this, as getting simple elements like the colour tone wrong can have expensive consequences. Watch spelling and grammar.

Regular Emails

Keeping in touch with customers on a regular basis is important. It reinforces the notion that your company is reliable and trustworthy. Keep postings or mail drops to the same time on the same day. Be aware that too many emails a week can lead to engagement fatigue – making your company an enemy as opposed to friend.

Strong Call to Action

It’s all very well having a clear email selling you something, but people need instructions. The Call to Action is the moment a potential target takes the bait – the conversion of effort to profit. Tell people what you want them to do, very short, sharp and clear, containing a verb – three words maximum. “BUY NOW” or “ENTER HERE”

Sense of Urgency

The sense that this offer is only available for a short period of time certainly makes it more valuable. Some emails have an actual clock feature that counts down the time till the offer expires. It puts incredible pressure on the customer, which is effective.

Choosing the Right Business Tools

There are many examples of excellent products out there which offer top class  email marketing software (MailChimp,  ConstantContact, Campaignmaster) through to all-in-one CRM and Sales package tools such as Hubspot, Salesforce and Pipedrive . It’s imperative to find a solution that fits your brand’s unique needs and requirements. When you are starting out, here are some key items to take note of and factor in before settling on a CRM system:

  • Does it offer support? What are the hours that support is offered in?
  • Is there training offered as part of the package? If not, how much extra will this cost?
  • Does it integrate easily with your current systems?
  • Find out how pricing scales, the longer you use it, and the more features you engage – especially regarding database size. Are there add-on features available or do you have to upgrade for more features or additional contacts? Are there hidden fees? Limits of messages sent a month? Charges to add users?
  • Find out if the software is designed for use by both sales and marketing. How it will better align sales and marketing teams? Ask for examples of how each team can use it. Get your marketing and sales teams to sample different tools before deciding on one.
  • Does the platform manage full customer life cycles, or only leads and prospects? You want to be able to engage and nurture contacts throughout the entire life cycle. After all, the best customer you can get is the one you already have.
  • Ask about email deliverability, specifically the vendor’s inbox and deliverability rate.
  • Is data available to track and assess progress?
  • Ensure the software offers mobile optimised landing pages and forms, as well as responsive email templates. Do you have additional mobile technology needs? It is essential that the software can meet your mobile requirements.

There is no replacement for personal engagement with clients. People want to see that they are valued and can trust your service if they engage it. That is what marketing comes down to – convincing the your client base that your product is better than the next. Try and humanise your email communication as much as possible – making your email wanted is the key to a successful mail programme.

Akoni helps businesses make the most of their cash. Follow us on Twitter @akonihub or connect with us here.

 

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Brexit, the US Election and British Business

After a seemingly endless trail to these fraught US elections – which have featured more turbulence, twists and turns than a series of Game of Thrones – businessman Donald Trump has become the 45th President of the United States. Indeed, 2016 will go down in history as one of the most volatile financial years ever. With the uncertainty of Brexit dangling over their heads like the Sword of Damocles, hundreds of Britain-based SME’s are now facing the impact of “Trumponomics” on top of Brexit uncertainties.

As expected, the dollar immediately plummeted after Trump’s victory, and may be unstable for a while. The US economy may take time to settle before changes start to kick in. The main European markets ultimately ended the day up – as such the expected meltdown did not occur. Experts are saying that radical change is unlikely to happen immediately – which is good news for stock markets. How the US economy reacts over the next few years will be interesting to watch, however.

Trump’s victory speech certainly soothed some fraught nerves, and towards the end of the day many markets were calmer. The President Elect spoke of healing and uniting the nation, he offered his thanks to Hillary Clinton for her service and hard work over the years, and talked about global relations.

While a Trump presidency is likely to add to global economic uncertainty, analysts believe the impact on the UK economy will – at least in the short term – be limited. Capital Economics has left its forecasts for UK growth unchanged 1.5pc in 2017 and 2.5pc in 2018 following the US election result. Outside the EU, the USA is the UK’s biggest export market, with a fifth of UK goods and services sent to the world’s biggest economy, equivalent to 6pc of UK gross domestic product (GDP). But Jonathan Loynes, an economist at Capital Economics, argues that there are several reasons why a Trump presidency would not be as painful for the UK, as it might be for other European countries. He sights factors such as the plunge in the value of the pound following Brexit – ultimately helping the UK to regain it’s competitiveness; a weaker dollar against low yielding currencies could help the pound to “find a floor”, easing concerns about runaway inflation. He also added that the political consequences for the UK, due to our good relationship with the US, plus the bonus that the UK has already had its “revolution” against the establishment, as positive factors. Brexit inspired the Trump vote, while mainstream politicians in the euro-zone – especially France, Italy and Germany – will be looking on with considerable unease while populist parties take encouragement from the events that have unfolded in the US and teh UK.

Britain’s main stock index, the FTSE 100, recovered from it’s early-morning slump, gaining 0,7 percent, while Germany’s DAX was up 0.5 percent and France’s CAC-40 gained 0.5 percent. This pattern has echoed the reaction to the Brexit vote – only it happened much faster: complacency, surprise and panic followed by swift recovery. Maybe Trump will prove to be less controversial than he has promised? Let’s hope so.

Practically speaking, there is a bit of breathing space before all these policy changes would come into being. In a Brexit scenario, the process of leaving the EU will take two years before it is phased in. The US president is sworn into office in January 2017, after which policies that President Trump has mentioned in his campaign will need to be passed by the Senate – and his revolutionary policies may or may not be approved by the extremely conservative administration in place.

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Extraordinary times call for caution and sensible business practice.

In terms of practical advice for businesses, it is crucial that they use this period to renegotiate, reassess and re-strategise to manage all foreign exchange risks. Many companies buying US dollars have already shortened the length of their forward contracts significantly, dropping these from an average of 90 working days per contract to less than 70 days, in anticipation of financial upheaval. Some 75 per cent of the earnings of the UK’s largest 100 companies come from overseas with many reporting their results in dollars. If we are faced with a situation where the pound becomes weaker, the knock-on effect may be felt down entire supply chains.

It is also on businesses to make sure that these supply chains are performing super-efficiently and cost effectively. It is a good idea to try and renegotiate future deals with one’s current suppliers, or in some cases, seek new suppliers who can offer the best possible deals.

It seems that UK business owners are relentlessly carrying on with business as usual. Given the difficult economic conditions in the recent past and the unpredictability of the future, business owners here have come to believe that with a combination of new technology available (i.e. access to effective ways to market their products online and many business tools) together with their own hard work, an innovative approach and good business management, there is every chance  of succeeding in this economic climate. After all, small businesses are essential to the economy of the UK, and the government knows it. Trump is all about business, hence the world is all about business as never before.

One part of Britain that will have their eye firmly on developments in the USA is Wales. For 70 years the US has been Wales’s top investor, accounting for 40% of the foreign money invested in it, and therefore the ramifications of the Trump administration’s economic policy are of massive interest there. Around 275 US companies are employing 48,000 people operating in the region – a significant chunk of the economy. Welsh exports to the USA are around £2.7bn while imports from the US to Wales are valued at £0.6bn.

Theresa May’s diplomatic message to the President Elect was that Britain and the USA have had an enduring and special relationship based on the values of freedom, democracy and enterprise in the past. The USA has been a close ally of the UK, with British foreign policy being closely coordinated with the US.  This special alliance has been strengthened by close cooperation through the World Wars, the Korean conflict, the Persian Gulf War, in Operation Iraqi Freedom, and in Afghanistan, and through trade agreements such as NATO. The two countries are in constant contact on foreign policy issues and global problems.

After Trump’s election result was confirmed, the UK government has made it clear that it is open to beginning a new trade relationship with the US. Keeping an eye on the business ball but adopting an optimistic outlook, wouldn’t it be excellent if trade relations with the US were favourably negotiated for Britain – offering new and favourable markets as an alternative, or an addition, to existing European markets after Brexit kicks in?

As long as businesses are prepared for the inevitable ups and downs ahead by having various risk mitigation plans, including buffers and insurance strategies for padding, there is a great chance that the effects of these upheavals can be minimised – even optimised.

Akoni helps businesses make the most of their cash. Follow us on Twitter @akonihub or connect with us here.

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