Category: Business

The ability to reach a global audience through a proactive online marketing campaign can never be ignored. Companies providing industrial test equipment have the ability to appeal to a specific market segment and niche, one where potential customers use unique online search terms, all in the aims of finding very specific products. This is why it is so important that companies adopt several online marketing strategies, ones that put their industrial test equipment offering but a few keystrokes away from potential customers. In essence, only an online marketing strategy can help level the playing field amongst all companies, regardless of their size. Online marketing is an inexpensive marketing platform that is quickly gaining a reputation for delivering superior results, especially when compared to outbound strategies. What is the difference between inbound and outbound marketing?

The Importance of Online Marketing

Inbound marketing is online marketing. It has become so commonplace for today’s businesses that most are moving away from outbound strategies and towards lower cost inbound marketing strategies. The difference is rather easy to understand; outbound marketing relates to conventional marketing strategies like TV, radio, print and billboard advertising, while inbound marketing relies upon organic online search results, online marketing campaigns and strong search engine optimization strategies. So for companies looking to sell industrial test equipment, what are some of the advantage of online marketing?

• Accurate Search Terms: Let’s assume an industrial test equipment manufacturer was trying to market a new line of power oscillators and RF power amplifiers. The search terms in both instances would match the company’s product offering. Both of these search terms are very specific and likely only searched by potential customers. These specific keywords become the focus of the company’s online marketing strategies. The company may decide to structure its website’s and blog’s content around these keywords. It may also decide to use several “pay-per-click” (PPC) and banner advertising campaigns, all with the aim of increasing the company’s likelihood of being found through online searches.

• Lower Costs of Customer Acquisition & Retention: All online marketing strategies focus on increasing a company’s PageRank in search results. A higher PageRank for a given search term means a company’s website is more likely to be viewed, which in turn leads to higher sales closing rates. Comparing outbound marketing to inbound marketing is rather simple. One is expensive, while the other is inexpensive. One is difficult to manage, requires a substantial capital investment and is incredibly costly when making changes, while the other is easy to change, simpler to manage and far more accurate in its analysis of results. Simply put, online marketing is an essential aspect of success for any enterprise looking to increase their market share because it dramatically lowers a company’s costs of customer acquisition and retention.

Online marketing increases marketing return on investment as it’s far more accurate in its assessment of success or failure when measuring individual marketing strategies. The results from outbound marketing strategies are simply too costly to determine. In addition, changes are often seen as permanent, whereas companies adopting online marketing can make relatively simple changes.

Companies listed in the top five on the NYSE is based on its success, longevity, and global influence in today’s economy.

How Companies Get Listed on the NYSE

There are certain minimum criteria that must be met for a domestic company to list on the NYSE, that relates to its value on the market, total assets and distribution of shares. An initial fee and annual fee along with an amount based on a sliding scale of the number of common shares issued must also be paid. The annual fee is a minimum payment of $35,000 and a maximum of $500,000.

What Are The Top Five Companies On The NYSE?

The following companies are listed as the top five on the stock market because they meet all of the domestic listing requirements of the NYSE.

1)Nexen, Inc.- Nexen, Inc. focuses on producing affordable, clean and secure energy by using innovative technology to discover and develop oil and gas resources on a global scale, including the the Gulf of Mexico, Western Canada, offshore West Africa, and the UK North Sea. They understand the importance of making as little impact on the environment as possible with their extraction techniques while maximizing the production of shale gas, conventional oil & gas, and oil sands when achieving their objectives.

2)Bank of America Corp.- As the fifth-largest company in the United States based on total cash flow, Bank of America located in Charlotte, North Carolina is a domestic international financial and banking services corporation headquartered Since its acquisition of Merrill Lynchin 2008, Bank of America is the world’s largest corporation for wealth management and a huge player in the investment banking market, and was listed third biggest company worldwide by Forbes in 2010. With 16,200 ATMs and 5,600 branches, the banking company roughly covers about 80 percent of the U.S. and serves approximately 57 million small businesses and consumers.

3)Freeport-Mcmoran Copper & Gold, Inc.- The company mines stable reserves of copper, gold and molybdenum from diverse, geographical locations, and is the world’s largest public trading copper company.

4)Citigroup, Inc.- Formed from one of the largest mergers in history, Citigroup, Inc. re-inventing itself in 2012 with blue lettering; it is a multinational, public domestic financial services network that operates in 140 countries with approximately 16,000 offices and currently employs approximately 260,000 staff worldwide from its headquarters in Manhattan, New York City, New York, USA. It provides financial analysis, global wealth management,credit cards, investment, corporate and consumer banking, net income of private equity. Citigroup, Inc. celebrates its 200 year anniversary in business this year. Based on its 2011 asset report, Citigroup, Inc. has a total asset of almost $2 trillion USD.

5) Hewlett-Packard Company- Hewlett-Packard is a domestic company internationally renowned for its information technology and printing devices, and is headquartered in Palo Alto, California, USA. It provides solutions, products, technologies, and software, for the average consumers and for government, health and education sectors of all sizes.

The third part logistics (3PL) industry in the country has grown by over 47 percent since 1998. This growth is lead primarily by the 72,000 transport and trucking providers who bring in more than $14 billion annually. The number of warehousing and storage providers has also increased by 50 percent over the last 15 years. Small businesses can benefit from a 3PL. The providers offer expertise and assets that will help to optimize everyday operations, reduce costs and increase revenue.

Inventory Management

Inventory management can become a logistical problem for small businesses. The cost of warehousing, materials handling, stocking and picking can grow very quickly. A poorly managed inventory or warehouse will reduce revenues significantly. A 3PL provider will handle all aspects of inventory management in an efficient way. A small business does not need to invest in material handling or warehousing assets or employees. The inventory management capabilities of an experienced 3PL will accommodate increasing stock levels as the small business grows over time.

Efficient Shipping Solutions

Shipping is something that few small businesses can manage without outside assistance. Carrier-level delivery companies must maintain large fleets of trucks and have thousands of employees. One way to optimize shipping within a small business is to use a 3PL that provides freight forwarding. Freight forwarding services are logistic specialists who arrange for the movement of packages between manufacturers and warehouses, customers or other vendors. The 3PL will work with carriers to reduce costs, meet shipping deadlines and improve deliverability for items that require special handling.

Planning and Consulting

Some 3PL providers provide planning and consulting services for businesses. This can help a small business to structure operations in a more efficient way. The provider will supply a business with the tools and information necessary to acquire the technology needed to remain competitive or to establish productive workflows. This will save money and will place a company in a position where expansion or future diversification is possible without having to restructure every department. A 3PL provider could also recommend reductions in staff levels or outsourcing of different services in order to streamline operations.

Global Access

The Internet gives every small business the ability to reach customers in nearly any part of the world. An increasing number of companies are starting to sell to foreign markets. Managing foreign shipments is not always easy and often requires special knowledge. A 3PL provider using freight forwarding will have the expertise to allow a company to send shipments to other countries seamlessly. This opens up new markets while also optimizing the shipping or distribution process.

Customer Service

Small businesses can use 3PL providers for support services that are normally only found in larger corporations. Some 3PL providers can handle customer service and returns. This includes receiving items that are returned to a warehouse and then shipping out new items. Certain providers even offer customer contact centers that can handle basic calls and escalate more serious or technical issues. This removes the need for a small business to construct a customer service infrastructure. A 3PL will also provide more complete and professional service.

Business executives agree that cash flow is one of the biggest challenges that any company faces. Ask any banker, and they will agree that cash is king. Even though many of these tight-fisted financial institutions were bailed out by the tax payers as insolvent and too big too fail, they have proven they are unwilling to part with much of that “found cash” to help other businesses in financial trouble. Business management teams continue to be creative in order to survive.

The Need for Factoring

With most traditional lending sources unwilling or unable to lend money, business professionals have been forced to consider alternative cash flow solutions, turning in increasing numbers to factoring houses that advance money in exchange for invoices. As often happens in the business world, where there is a demand, there is always someone willing to meet that need.

In addition to banking problems, the traditional loan sources for small businesses in particular, have been negatively impacted by a sour global economy since 2009. In the face of high unemployment rates and plunging individual investment portfolios, it is no surprise that many investment sources for small businesses have dried up. On top of that, many small business executives find it almost impossible to tap into home equity like they could in the past to access some quick cash. Just in time for many business owners, the factoring houses swooped in to save the day as a lone solution to a growing problem.

Benefits of Factoring

Compared to working with banks, business executives admit that there are many advantages to using a factoring company. Here are some of the benefits of using factoring houses for cash advances.

1. The money is usually advanced very quickly on an as needed basis.
2. The credit of the business does not have to be perfect to obtain an advance. Usually the credit worthiness of the company owing the invoices is of much more concern for factoring companies, since these companies often take over the collection process.
3. Co-signors are required for a cash advance.
4. Advances makes cash available for companies to take advantage of discounts offered by suppliers.

Future Considerations

An interesting question arises as banks continue to clutch their cash reserves, only willing to loan to a few select companies they deem creditworthy. Considering the ease of getting a cash advance from a factoring company, how forgiving will corporate executives be in the future? Most people agree that companies in need of money will take it wherever they can get it. There will be a choice at some point in the future. Of course, interest rates will always rule analytical decisions, but until economic recovery takes hold, factoring companies are the answer for many businesses.