MoneyDigest - Personal Finance, Lifestyle, Money Saving Tips

Increase Your Sales Through Social Influence

As the technology advances, the presence of social media became inevitable. With this in mind, the marketing department must up their game by creating and showcasing a credible online persona for the company and its products or services. A great online persona will attract more people to the website, boost the brand’s loyal consumers, and increase the number of new consumers.

The efficiency of this social influence is due to the Bandwagon Effect. Bandwagon Effect is a phenomenon that occurs when people do something predominantly because others are doing it. Social media allows the consumers to talk about a brand and its competitors. Using this tool to your advantage can help boost your sales.

In fact, Engage Selling‘s C. Francis once said that sales of US$30,000-250,000 were once made due to finding opportunities in LinkedIn or Twitter.

HOW TO BOOST YOUR SOCIAL INFLUENCE?

1. INTEGRATE TESTIMONIALS

Integrate honest testimonials by using the company’s website, Facebook, Twitter, Blog, or other social media accounts. This is a way to show the clients’ great experiences – making the company be as relatable as possible. People are more likely to be patronizing a product if they heard about it from an existing satisfied client.

2. ENABLE CLIENT’S REVIEWS AND RATINGS

Truth be told, whenever I am about to watch the latest movie or eat from a new cafe, I would search for the previous reviews and ratings first. This is because I want to get my money’s worth by choosing the best and the most affordable products or services out there. Adding this feature to your website will allow direct feedback to increase your credibility. This is what e-commerce websites such as Amazon or eBay strive for.

3. FEATURE YOUR AWARDS

If your company won an award or has been featured in an article or two, post them up for everybody to see. Through this, it will show a new consumer that your brand has shines from the rest because your product or services are outstanding.

4. PUT SOCIAL MEDIA WIDGETS OR PLUGINS

Adding social media widgets or plugins that enable the consumer to share your content is important as it optimizes the traffic that will only come back to your company’s website. One example of it is “ShareThis” (get the code here– for free). It is important that your valued clients see the number of likes, shares, or followers. A hint of trust to the brand increases, as they will see their friends patronizing the same product or service.

Image Credits: mkhmarketing via Flickr

To sum it up, a sure-fire way to increase your brand’s desirability, profits, and consumer interaction is to boost your social media influence.

Sources: 1, 2, 3, & 4

Common Career Mishaps Young Employees Make

On your first full-time job after graduation, you are bound to make minor to costly mishaps. Keep in mind that it is okay to make these mistakes especially at the beginning of your career. It helps you to learn and as you bounce back, you will be tougher than you ever were before.

On that note, here are the Common Career Mishaps Young Employees (In Their 20s) Make…

1. WAITING GAME

First on the list is the irrational belief that you will magically land your dream position without any ounce of effort. No matter how skilled you are, you need to search for the job yourself. Some people maybe lucky as companies personally look for them after they graduated, however what if you are not one of them? Worry not. By working hard, you can achieve your goals and so much more.

And, once you are accepted for the job, do not forget to dress for the part. There is no right or wrong way to dress except if the company provides the uniforms. Nevertheless, the best thing for you to do is to wear conservative or non-revealing clothes in the first few days then adjust from there.

2. NEGLECTING THE IMPORTANCE OF NETWORKING

Resources and connections play a huge part especially in the business, marketing, and advertising world. Being able to keep in touch with your fellow graduates will help a lot. As young professionals, it will benefit you to attend networking events to increase your knowledge about the working environment. Also, having access to job opportunities at a young age is indispensable.

3. FAILING TO NEGOTIATE

Being fresh to the “working scene”, you may be prone to underrate your worth. This is why it is important to evaluate your skills, education, and experiences. Find out the average salary per year through PayScale.com. It provides salary information for a particular position from its global online database. For example, the average pay for a Sales Representative at Pharmaceuticals is S$46,006/year.

And, if you already got the job yet you feel underpaid and overworked, ask for a pay raise. If you do not ask then you would not get it. Realize that your bargaining strength is all in your head. You can do it!

4. LEAVING A JOB TOO SOON

There is nothing inappropriate with leaving a job unless you have not taken everything into consideration. When faced with a difficult situation at work, young employees often think that quitting will solve it.

You may be away from your annoying colleague but you are faced with unemployment and debt. Is it really worth it to quit? In this situation, it is best to weigh-in the benefits and consequences of your future actions first.

5. LETTING YOUR INFLATED EGO AFFECT YOUR CAREER

Your huge ego can translate in your Resume/C.V., your interview, and your actions. Instead of only boasting your strengths, find the skills that can help the company to improve and put it in your Resume/C.V.

Lastly, do not overestimate your abilities because you are merely starting a journey. Ask politely if you do not know how to solve an issue. This simple gesture can save the company hundreds of dollars.

Image Credits: Sara Ashley via Flickr

Sources: 1 & 2

The Wondrous Modern Uses of Gold

Gold is probably the most vaunted precious metal most people are familiar with. Indeed, grannies love to don this prized jewellery around their necks while grandpas revel in displaying their wealth with their 18K golden Rolexes.

But this is not all. Gold has far more phenomenal uses than you can ever imagine. And this is part of the reason why the price of gold has not fallen beyond S$1,450 per ounce for the past 5 years.

Image credit: luxpresso.com

Most electronic devices

While 78% of the gold consumed every year is used for jewellery, the most significant industrial use of gold is manifested in electronics. Gold is a highly efficient conductor of electricity, only second to silver and copper. From pocket electronic gadgets to large electronic appliances, gold shows up in almost all of them, albeit in minute amounts. If you own a mobile phone, a calculator, a computer, a global positioning system unit and a television set, you are definitely a proud owner of gold. But the reason for the hefty price of iPhone 6 Gold does not lie in the gold content, for most of the mobile phones merely contain around 50 cents worth of gold.

Image credit: blog.badonlinedates.com

Medical uses

Want a vibrant golden smile? Dentists are still using gold alloys for tooth fillings, crowns, and bridges because gold is durable, non-allergenic and corrosion-free like silver and platinum. Many surgical instruments and life-support devices are also manufactured with tiny amounts of gold. Gold is a component in drugs to treat medical conditions such as the joint disorder arthritis by reducing swelling, bone damage and relieving joint pain and stiffness. For the diagnosis of diseases, gold is also injected into the body in its radioactive form.

Image credit: goldresource.net

Aerospace

Have you ever thought of what space vehicles are made of? Many parts are actually fitted with gold-coated polyester film to reflect infrared radiation and stabilize the temperature of the spacecraft or risk overheating. As gold is malleable, it also acts as a lubricant between the mechanical parts of the spacecraft in orbit.

Before committing to any investment, it is always prudent to find out the uses of the particular financial product. It allows you to project its future returns more accurately based on economically sound fundamentals instead of sheer speculation. It is also critical to know the relationships between gold price, U.S. dollar and interest rates. The appreciating dollar and prospects for higher U.S. interest rates have curbed gold’s gleaming appeal as a protection of wealth and led to its price decline. Finally, given that the biggest consumer markets are none other than India and China, their economic growth would inevitably impact the gold price significantly.

4 Highest Paying Jobs In The Field Of Psychology

One of the most popular degrees, aside from Business Administration, is Psychology. There are various career paths to choose from including the fields of Forensic Psychology, Sport Psychology, Counseling, Clinical Psychology, School Psychology, and so on. Also, you can choose to work with children, youth, or elderly. All you have to do is search for what you are truly passionate about.

Now, if you desire to earn big in this area, here is the data from 2011-2014 to show the 4 Highest Paying Jobs In The Field Of Psychology…

4. FORENSIC PSYCHOLOGIST

Minimum Requirement: Master’s degree in Forensic Psychology. But, doctorate degree in forensic psychology, clinical psychology, and counseling can get you a better salary.

Forensic Psychologists carry out duties that are related with the law such as examining abuse, providing expert testimony, preparing witnesses of the court, training officers of the law, and profiling criminals.

3. ENGINEERING PSYCHOLOGIST

Minimum Requirement: Master’s degree. But, doctorate degree in Engineering Psychology will find you greater employment opportunities and better salary.

Due to the 21st century technology, there is a rapid growth in the demand for Engineering Psychologists. Engineering Psychologists focus on upgrading the technology, machines, and workplace environment to increase productivity and minimize danger. This in return will enhance the behavior of the employees and the people around.

Image Credits: Frits Ahlefeldt-Laurvig via Flickr

2. INDUSTRIAL/ORGANIZATIONAL PSYCHOLOGIST

Minimum Requirement: Bachelor’s degree in Industrial/Organizational Psychology. But, masters and doctorate degree will find you greater employment opportunities and better salary.

Industrial/Organizational Psychologists usually work in the corporate setting to help improve the performance and efficacy of the workplace. They are involved in examining workplace culture, employee training, human resources, and marketing strategies.

1. PSYCHIATRIST

Minimum Requirement: About eight years of post-undergraduate study with training.

Child Psychiatrists must be trained to treat children and teenagers who have mental disorders. While, General Psychiatrists do not specialize in a specific discipline. There are different kinds of Psychiatrists but one thing is for sure they are usually on the top of the list when it comes to salary.

Image Credits: Hartwig HKD via Flickr

Sources: 1, 2, & 3

Exciting Ways To Spend Your S$20 In Singapore

Is it possible to have a fun-filled afternoon with just S$20? The answer is YES! From water amusement to taking the leap of faith, here are the Exciting Ways To Spend Your S$20 In Singapore…

1. DISCOVER A HERITAGE

Travel to Chinatown (for about S$4) and discover the Buddha Tooth Relic Temple and Museum then, spend the remainder of your money by eating at the Yummy Viet Restaurant.

Discover a rich heritage to gain a strong understanding of the Buddhist ways at the Buddha Tooth Relic Temple And Museum (BTRTM). BTRTM has more than 300,000 visitors every month. The admission is free but you have to pay follow the rules before entering the Temple. The rules include wearing decent attire and not bringing pets or non-vegetarian food inside.

After the BTRTM trip, indulge your taste buds in healthy yet tasty Vietnamese food at the Yummy Viet Restaurant. Yummy Viet’s prices are affordable and reasonable. For example, the Chicken Rice Noodle costs S$7.50, the Beef Balls Noodle S$8.90, and the Deep Fried Chicken with Fried Rice costs S$7.90.

2. TAKE THE LEAP OF FAITH

If you happen to be in Sentosa, you can try the “ParaJump” attraction including the Jungle Ride for S$19. ParaJump replicates a free-fall parachute jump through its safety harness and experienced staff. I have to admit…I am fearful of heights but after trying this, I felt a surge of fulfillment and happiness. Beyond the fear, the experience was thrilling.

Image Credits: instagram.com/agoncilloanna

3. HOG ALL THE BOOKS FOR S$20

Take all the books you can and pay only S$20! To participate in this BIG BOX SALE by Marshall Cavendish, you must fill up a carton with as many books you want. Categories include cookbooks, travel books, children books, entrepreneurship books, fiction books, and history books. Visit here to know more.

4. WATER AMUSEMENT

One of Singapore’s largest water theme parks called “Wild Wild Wet“ offers exhilarating rides at inexpensive prices. From Monday to Friday, adults get to pay S$20 for the admission while children and senior citizens get to pay S$14 only. Toddlers are free to swim all year round!

The rides include braving the rapids with Ular-Lah, making your way to wacky curves and crazy turns at The Waterworks, and so much more. The best thing is that on May 26, you get to enjoy 50% off the entry tickets.

Search the site