By Chuck Thomas / in Blog, VALCORT DNA / May 15, 2017
Paying attention is important. In many ways. Identity security, for instance.
Identify theft affects a staggering 7 percent of the population annually, according to the U.S. Bureau of Justice Statistics, and totals more than $25 billion annually in financial losses to the U.S. economy. Due to its emotional impact and resulting behavior changes, identity fraud can have an influence upon the overall health and economy. Many victims report a general loss of trust, and a lack of confidence in a “system” that had been unable to help them recover after the crime. Their future decisions, including decisions on what to buy, from whom, and how much, are influenced by being a victim of identity theft.
Most of us have left ourselves vulnerable in many ways, but the biggest problem is, we are not aware of the extent of the problem or how to protect ourselves.
The need for vigilance can apply to many disciplines, including corporate expenditures on sales and marketing. Even here we can find similar vulnerabilities caused by not paying attention to potential loss and waste. The intents are not nefarious, but millions of dollars are wasted because we’re not taking time to determine if our marketing is making a difference.
Avoid the drain on your revenues. #28 of Valcort’s 35 Keys to Business Growth reads:
Understand the impact of your advertising, marketing and sales efforts on your company’s revenues, profit, and customer loyalty.
The best way to do this is to relentlessly track results, and then make the changes necessary to improve performance. We’ve gathered some tips, with thanks to the Young Entrepreneur Council: Check them out.
Read more of Valcort’s 35 Keys to Business Growth