Month: February 2020

We all want to be in control of our finances, but it’s easy for spending to get out of hand if you don’t keep track. Monitoring your expenditures is essential to managing and controlling your money, as it can help you identify areas where you’re either overspending or underspending. With careful tracking and budgeting, you can plan financially and ensure that you have enough funds available when needed. In this post, we’ll look at why monitoring your spending is vital for keeping your finances on the right track.

Avoid Overspending

Many businesses and shops use marketing tactics to make you believe that you need something more than what you do. It’s easy to fall into the trap of buying things on impulse or out of boredom. Spend management helps you be disciplined and think twice before making purchases. With procurement, it is essential to monitor the spending of each department within an organization so that there can be clear transparency in where money is being spent and how it should be allocated.

Better Budgeting

By keeping track of all your expenses, you can better adjust your budget to account for everything you need. You can also use spending tracking to set and maintain realistic goals for yourself – such as saving a certain amount of money each month or sticking to only making necessary purchases. This will help you stay on top of your finances and create a more secure financial future.

The ability to track your spending also allows you to identify and focus on areas where you may be overspending or underspending. By understanding your financial habits, you can better adjust your budget to account for all of the necessities in life, like food, housing, and transportation.

Accountability

With a plan or monitoring system, it’s easier to remember your financial goals and end up overspending. Monitoring your expenses gives you the accountability you need to stay on track with your budget. It also allows you to set limits for yourself so that you don’t make impulse purchases that could strain your finances.

Additionally, tracking your spending can help you identify areas where you underspend. This allows you to make changes or adjustments for your money to stretch further and allow for more financial freedom.

Monitor Your Financial Progress

By monitoring your spending, you can identify patterns in how you use money and get a clear picture of your overall financial health. This will provide valuable insight into how well you manage your finances and where you may need adjustments or changes. With this information, it becomes easier to set realistic goals and be proactive about achieving them.

Data about your finances is also useful if you ever need to apply for a loan, credit card, or other financial product. Financial institutions often require detailed spending data before they approve applications.

Improved Financial Security

Financial security is the ultimate goal for many people. Monitoring spending is essential for ensuring that you are on the right track to achieving a secure financial future. Keeping an eye on where your money is going will be easier to identify any areas where you may need to cut back to save more. This can help put you in a better position when it comes time for retirement or any other significant investments you wish to make.

Monitoring your spending is vital to stay on top of your finances and create a secure financial future. Spend management can help you better adjust your budget and identify areas where you may need to be spending more or less. It also provides valuable insight into your financial progress and allows you to set realistic goals for yourself. With these tools, you can ensure that your finances remain secure.

James Ewen

James is the head of marketing at Tamoco

Have you ever tried cooking in the dark? Most of you would be shaking your heads — of course not! It is careless and totally unnecessary! Over 60% of organizations don’t give a thought to marketing analytics when they are planning marketing strategies! Just like cooking in the dark, planning an expensive marketing strategy and ignoring valuable marketing data is reckless. In this compact yet comprehensive article, we will help you figure out how you can use marketing analytics to your advantage. 

 Here’s and make your business boom!

What is Marketing Analytics

As hard as it sounds, analytics is pretty simple – you measure, manage, and analyze the marketing strategies you have put into play. Doing this not only improves the effectiveness of the techniques but also lets you visualize the trends and customer insights. You can see how your marketing efforts are generating revenue for you. You can monitor all the marketing campaigns — this will help you manage your financial resources in a better way! 

You need to research and understand the market trends to see why some of your campaigns are doing great while others are badly failing. When you analyze a few examples, you will clearly start to see the bigger marketing picture. There are various marketing tools available online that are effective when it comes to putting data analytics to use. 

Let’s take a look at a few examples to brush up on your marketing education!

• Event-Based Tools

Commonly known as click analysis, these kinds of tools focus on the things that matter the most when it comes to your business. For instance, if you own a marketing education website that provides research papers to a student preparing for his MBA exams, the number of downloads for particular essays will be a point to monitor. For example, if a student visits a website when shopping essay actual topics before exams, he will most often search through the list of authors available before hiring a writer.

The number of clicks on each writer’s profile will tell you how beneficial the student essays are for your website. Similarly, if you have an e-commerce website, the cart of your online shopping mall will be a point to focus on. These tools allow you to track the user’s actions while they are scrolling through your site. There are various event-based tools that you can use, such as MixPanel, Heap Analytics, Oribi, and KissMetrics.

• Customer Surveys

Want to know what your customers are thinking without doing a lot of research? Customer surveys are your best friend. You can ask them different questions by going through the examples of your marketing campaigns and gain an idea of how the strategies are faring with the customers. For example, if you publish books and essays, a customer survey will help. You can ask the students what books they read, what exams they are preparing for, how their campus life is, and whether they prefer paper or e-books.

 It will give you an idea of what kind of books a typical student reads on campus so that you can update your inventory accordingly. At the end of the surveys and exams, you can offer them a campus discount or a freebie as a bonus! 

• Testing Tools

With the help of testing tools, you can test multiple message variants and features and see how people respond to them. Testing allows you to collect real-time analytical data — you can’t keep on working using assumed data all the time! You can use features such as in-app notifications, push notifications, etc., to connect with your users. From Optimizely to VWO, you can find a multitude of such testing tools online and see which one fits your needs perfectly. 

• Visual Behavior Tools

Need a feature that lets you monitor how much time a customer spends on your website and see what he is looking at? In come the visual behavior tools! With the help of cursor movement, the tools let you figure out what the user looked at the most. You can use this data to rearrange your user interface and bring a positive change to your website. You can use Hotjar and Crazyegg to create a visual analysis paper and a lot more. 

Final Word

To make sure all your hard work is paying off, you need to brush up on your marketing education. Hopefully, this article on how to learn marketing analytics has provided you with a crash course in giving your business a much-needed nudge in the right direction. 

Here’s to your successful business!

James Ewen

James is the head of marketing at Tamoco

NFT is a digital cast of any unique object. It can be a photo, a gif, a game artifact, a tweet, a fragment of text or audio. They are traded on special marketplaces. To find a reliable platform for trading NFTs, consider reading a BYDFI review. What to do to build NFT marketplace that will be successful? Learn more about this. 

The value of NFT is in its uniqueness. You can also create NFT for an object from the physical world – a picture, a car, or a house. But an NFT for a car is an obscure category because it does not prove ownership of the physical object. So “tangible” NFTs are rarely used.

If you buy an NFT on a tweet or a game artifact, you will only have such virtual ownership. Each token is tied to a unique record on the blockchain, a chain of blocks in which information is stored. These blocks are scattered all over the world and have multiple owners. The difference between an NFT and an ordinary token is precisely its uniqueness: an ordinary token is duplicated on the blockchain an infinite number of times.

The value of an NFT depends on the context and the identity of the author. The NFT version of “Black Square” will cause a stir among collectors, while the work of a hopeful enthusiast will only interest their friends. Anyone can put their tweets up for an NFT auction, but they’re unlikely to get $3 million for them, like Twitter founder Jack Dorsey. 

How most modern NFT marketplaces work 

Transactions require a cryptocurrency wallet, an app that allows you to use cryptocurrency. The most common is MetaMask which is supported by almost all NFT marketplaces. 

NFT marketplaces work in an auction format. This means that the seller puts the token up for sale, and potential buyers leave bids for how much they are willing to buy it. The highest bidder wins.

On most projects, there is no way to promote your work. This means that if a user just puts up an NFT for sale, there is no guarantee that anyone will buy it. Beginning sellers have to take care of the advertising themselves. You, as a potential creator of a new project, can take note of this, and offer your users a brand-new opportunity to promote their content on the platform. 

All platforms roughly differ in the audience, blockchain, and additional options. Let’s look at the differences in more detail so you can begin to have an idea of which direction to take. 

Audience

There are sites that focus on gamers – they go there for game items and avatars with game characters. Others are designed for sports fans – for example, you can become the owner of a video clip from a match. There are projects for artists and collectors, where digital works of art are created and offered for sale, or something unique is sought for a collection. There are also universal sites where you can find digital paintings by famous artists, videos with singing schoolgirls, or gifs with unicorns.

Commission 

Sellers, buyers, or both can pay it, depending on the terms of the site. This amount is fixed in the rules and does not change often.

Additional options

These can be a low commission, free NFT creation, and promotion, the ability to upload multiple NFT objects to the platform at once and pay commission for one object, or receiving bonuses for activity on the site.

Experts rank NFT marketplaces not only by the number of users but also by the volume of transactions, the number of famous artists exhibiting their works, the convenience of the interface, and the type of content exhibited – photographs, digital art, computer games items.

The most interesting projects and their features

OpenSea

Audience. Universal NFT marketplace, designed for a wide audience. Here you can sell and buy digital art, photos, music tracks, game items, and even domain names. It accounted for 84% of all NFT transactions.

Magic Eden

Audience. Gamers and authors of works based on computer games. Here you can buy a painting drawn with artificial intelligence or game art – an NFT object based on computer games. The auction lasts only 24 hours: if it is not extended, it automatically closes. Anyone can register.

SuperRare

One of the few sites where there is an opportunity to promote, as in social networks – that is, to increase their position in the extradition through the “likes” from other users. The most popular paintings are displayed on the main page in the gallery “Best Artists,” “Best Collectors” and “Largest Collections. Works from such selections are easier to raise interest in the auction.

Foundation

The creator of the NFT marketplace is Kayvon Tegranian and the company is registered in 2020 in San Francisco. There are over 90,000 works on display at Foundation today. It’s worth going here for those who understand digital art. Every newly registered artist gets to tell their story on the NFT marketplace home page – a good “advance” for an aspiring author. Artists can sell any format of NFT here – static picture, video, 3D, VR, and even physical works.

What direction should a novice project take?

From the point of view of sales and promotion, there is no difference for the user which NFT marketplace to buy or exhibit the work. Therefore, if you are looking to make money with your own NFT marketplace, your main goal is to get millions of visits. Next, to be successful, you need to add value to your product.

There are several hundred NFT marketplaces, and new ones pop up every week. Many of them rise quickly to the top. To become successful in this marketplace, it’s important to highlight key benefits right away. 

For users, there may be several dangers that they meet newcomers to the NFT marketplace. They are associated with technical and human factors. It is important to try to avoid them. Take care to minimize the potential damage to your user. This will help you to distinguish yourself from other projects. 

• Risk for the vendor: the cost of “gas” is too high. During peak hours, the cost of creating a token can simply outweigh the price you can get for NFT.
• Risk for the buyer: deception by the seller. If you want to get the original on physical media along with the token, you’re taking a big risk. There are no legal regulations that oblige the owner of, for example, a painting to hand over the original to you after you purchase the token. Most modern platforms have no liability for this.

James Ewen

James is the head of marketing at Tamoco