Category: Business Advice

2017’s Year in Search defines new consumer behaviours

If you want to know what Internet users cared most about in the last year, you need only look to the search giant Google for insight. Google’s trend data provides a window into users’ interests, needs, and wants. More than just a list of the “most searched” or “top searches”, Google’s search data can reveal to savvy businesses the emerging behaviour of its buyers (and potential buyers). Harnessing the power of these trends can help businesses connect with buyers in a more meaningful way in 2018.

So, what did Google learn about consumer behaviour in 2017? Predominantly, that a new super-empowered consumer took shape. Consumers are more curious, demanding and more impatient than they have ever been.

People are turning to the Internet for direct answers to the specific questions they have. This is seen in the types questions being directed to Google looking for relevant, useful information and answers. Not only are searchers interested in the cultural happenings that shape their lives and the world (such as asking “what is the Paris Climate Agreement” and learning more about Bitcoin), but also they are searching for answers to their questions with an ever-increasing amount of specificity. Google’s data highlights, for example, people didn’t just search “how to make slime.” They searched “how to make fluffy slime,” “how to make butter slime,” and “how to make slime without Borax.”

Access to mobile data and the prevalence of “always-on” mobile devices continues to be the ultimate game changer for empowering consumers today. People expect to be able to find exactly what they’re looking for, wherever and whenever they’re looking for it. This was seen in the increasing number of “near me” searches conducted. Across the country, people turned to search on their location-enabled devices to find stores, restaurants, and events near them at the exact moments in time they were wanted (referred to as a “micro-moment). With unfettered access to information at our fingertips at all times, users are now accustomed to turning to our devices for advice, across a much wider range of topics. And that makes no decision too small. Now, anything users are considering buying—no matter the category or price— is likely to be, researched on mobile first. In other words, consumers are becoming research-obsessed, even about the small stuff.      

There exists also the immediacy of need that is served well by mobile searching. When a consumer searches at the exact moment they need something, they are prepared to make an on-the-spot decision and expect immediate information, which leads to the expectation of getting the required product or service straight away as well. Increasing volumes of search for terms that include “open now” and “same-day shipping” show us that people are becoming unwilling to wait even a few days for their needs to be met.

2017 search behaviour also showed how willing today’s Internet users are prepared to take swift action when crisis strikes. No longer are people content to simply follow mainstream news coverage, rather they are itching to take action and help out their fellow citizens. Internet users turn to search to find ways to lend a hand in the moment. The data shows people are eager for information on how they can make an immediate difference when disaster strikes.

So, what does all of this mean for business in 2018? Business should expect the continued evolution of a super-empowered consumer with ever-rising expectations. Internet users will ask more detailed questions, want more personally relevant answers, and they’ll want it all faster than ever before.

Contact us today to learn how CQA can help connect you with today’s B2B consumer!

Speed is the key to converting online sales leads

Previously, over on our LinkedIn page, we have discussed with our followers why we promise that the vendors in our network will respond to our users’ request for quote within 24 (business) hours.  Put simply, the immediateness of follow-up is essential not only in terms of providing a superior user experience, it is absolutely necessary in terms of successful conversion.  As a business centred on meeting the needs of our users in a more efficient manner, we are committed to securing successful outcomes for all who use CQA‘s services – both end users and vendors, alike.  As such, our key promise of a 24 hour response time is not a arbitrary metric.  

Studies show that the average company takes 44 hours to respond to a lead generated online, with 55% of companies not responding at all.  When you consider that the same study shows that the best time to respond to these same leads is within the first 5 minutes of its receipt, it is indeed shocking that businesses are so lax in their approach to online leads.  Is it then any wonder that businesses today find it harder to market and acquire new customers?  Their own processes are letting them down. By the time the average business gets around to responding to a potential customer actively asking for their help, that customer has already taken their business elsewhere.

International sales expert, Grant Cardone advises “The faster [a business] can respond, the better chance of converting… The first company that follows up gets 50 percent of the business.”  And the key to increasing your speed in following up with leads?  “Utilise every communication tool you have available. Don’t just rely on phone calls. Email. Text. Send smoke signals and carrier pigeons if you have to.  In fact, Cardone advises, “if you have the data to text a client within the first five minutes of contact, your chances of conversion go up almost 300 times.”

The evidence is clear:  everyone’s needs in the buying cycle are met far more effectively and efficiently when the business that receives an online sales lead is swift to follow-up.  

ATO extends $20,000 instant asset write-off

ATO extends asset write-off

Great news from the ATO!

Get your $20,000 instant asset write-off.

On 9 May 2017, the Australian Government announced an extension to the 2015-16 Budget measure  that provides an instant asset write-off provision for small business.  Businesses can immediately deduct the business portion of most assets if they cost less than $20,000.  The write-off threshold of $20,000 has been extended to 30 June 2018. The write-off provision is also now available to more business.

Small business is eligible to use simplified depreciation rules and claim the immediate deduction for the business portion of each asset (new or second hand) costing less than $20,000 if:

  • the business has a turnover less than $10 million (this has increased from $2 million), and
  • the asset was first used or installed ready for use in the 2016-17 income year.

This deduction can be used for each new or second-hand asset that costs less than $20,000, in the year the asset was first used or installed ready for use.  Assets that cost $20,000 or more can’t be immediately deducted. (They will continue to be deducted over time.)

According to Smart Company, small business minister Michael McCormack called for the measure to be extended for at least another 12 months, saying the policy has “been excellent for small business”.  Having witnessed firsthand the benefit the write-off can bring to business, McCormack says many small businesses that are using the tax write-off to improve their businesses are investing in income-producing assets from new utes for tradies to upgraded computers, printer and copiers, and business phone systems for offices, as well as shopfront fit-out assets – air conditioners, signs, furniture and fittings.  McCormack went onto reflect on the importance of the government encouraging business expansion and the creation of new jobs, despite a challenging budget environment.

Indeed, the evidence shows that the small business instant asset write-off measure has been embraced by small business.  Since its introduction, there was found to be an 126% increase in the number of small businesses making claims under the write-off scheme in its first six months of operation between July and December 2015, according to Treasury data released in December 2015.

 

What does this mean for your business?

If you have been thinking about purchasing assets under $20,000, this may be the perfect opportunity to purchase them and take advantage of this incentive. Tax incentives are great news for small businesses!   As always, getting advice from an accountant and tax advisor can help you determine if this is buying smart for your business.

Complete one of our short request-for-quotation forms today to be connected with our reputable vendors who are committed to promptly providing your business with a competitive price quote and answering any questions you may.  By comparing quotes from multiple vendors, you’ll know that you’re not only getting the best deal, but you’re able to make the choice that best suits your requirements.  Corporate Quotes Australia helps you buy smart! From stationary to capital equipment and professional services, our vendors can supply virtually everything you need to run your business.