TEC

4 relationship marketing strategies

Building relationships with customers is a way to increase customer lifetime value, improve customer retention, and reduce marketing costs. Just a 5% increase in customer retention can improve the profitability of a business up to 75%. Through relationship marketing, businesses are able to establish strong bonds with their customers, leading to customers who are more willing […]

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TEC

Does paying the price lead to winning the war for talent?

Download the full report  As companies look towards improving their profit pictures, many CEOs are considering the adoption of leading talent. Talent reduces the cost of business processes, improves customer satisfaction, and perhaps most importantly — drive innovation. But procuring the right talent isn’t always easy. CEOs in 2018 are considering: Higher wages Higher wages […]

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Using social media to improve customer engagement

Facebook, Instagram, and — of course — LinkedIn. From connecting with colleagues to finding old friends, social media provides a valuable and ubiquitous role in our daily lives. But it isn’t just about personal communication; it’s also about connecting with consumers. 88% of businesses are now using social media for marketing. LinkedIn, Yelp, Facebook, and even Instagram […]

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TEC case study

Creating a company culture: Lessons form Consolid8

Consolid8 is an accounting firm that was originally built on the experience Managing Director Tanya Titman developed providing management accounting solutions. From that basis, Tanya realised there was a significant need for greater financial literacy among business owners, a focus she believes is a great differentiator for the business. There’s also been a focus on […]

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TEC

Marketing technologies to support your sales strategy

Marketing strategies are growing in complexity every day. From social media advertising, mobile advertising, and content marketing to paid advertising and email marketing — how are today’s organisations keeping up? It’s all about the technology. Through automation, data collection, scheduling, tracking, and big data analysis, companies are able to leverage new advertising strategies without a […]

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TEC

Australian SME Outlook: Confidence Index Highlights Q3 2017

   Download the full report  According to the Confidence Index report, CEOs are exceptionally confident in the domestic economy and expect to see an increase in both sales and profitability in the year to come. This optimism is likely to have a direct impact on the market and will drive the strategy for many Australian businesses […]

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TEC

The guide to marketing metrics that really matter

It’s easy for a business to become overwhelmed with the sheer amount of marketing data that it has collected. But marketing data isn’t just “data”, it is critical to improving and directing a marketing strategy. Just as logistics and shipping analysis is necessary for fine-tuning business operations, marketing data is necessary for identifying potential opportunities and points […]

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Inbound marketing: A new way of marketing

63 percent of businesses now report that generating traffic and leads is one of their top marketing challenges. A few decades ago, it was commonplace for consumers to rely on advertising that was sent to them — television and radio advertisements, physical mailers, and even billboards. In the early days of the Internet, marketers sought to replicate the […]

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TEC

Innovation and diversification: Lessons from REDARC

Anthony Kittel has taken REDARC Electronics from operating out of a tin shed to a multi-million dollar company with its own purpose-built advanced manufacturing facility. Purchasing the business and taking over as CEO and Managing Director in 1997 after its founder, Bob Mackie, sadly passed away, Anthony’s business journey is one of innovation, fast-paced growth […]

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How to receive feedback when in a senior position

As CEOs or managers, you can benefit from constructive feedback. Everyone has areas in which they need to improve, and listening to others can impart valuable information, even if it’s only regarding how others perceive them. Top leaders — those performing in the 83rd percentile — ask for feedback the most frequently. Upward feedback incorporates feedback from employees in managerial […]

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tec

Tips to better manage your email inbox

4.1 hours — that’s the amount of time the average person spends checking their work email every day. It’s easy to see why: email has essentially replaced many other methods of business communication. Rather than having face-to-face meetings or getting on the phone, we are now funnelling everything straight into our inboxes in an easily digested format. Email is essential, especially […]

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4 types of stress: Do you know what is causing yours?

Globalisation, managing a business in a VUCA environment, and an increased feeling of isolation have made being a CEO more difficult than ever. In fact, two-thirds of CEOs are currently struggling with stress and exhaustion. But they don’t have to be. CEOs need to work harder to rise above it, identify the cause of their stress, […]

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Staying relevant in a disrupted industry: Lessons from Eckersley Group

Businesses need to move with the times, something that Tom Eckersley quickly realised when he took over his father’s company, Eckersley Group, with his brother in 1991. Providing a broad range of printed materials to businesses across Australia, the introduction of the digital age has meant Tom’s had to update his product and service offering […]

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4 tips to running effective meetings

From stand-up scrums to sit-down sessions, meetings take up a large portion of time for any organisation. When managed effectively, a meeting is an opportunity to optimise business operations. But when managed poorly, meetings become disruptive and distracting. It’s estimated that $37 billion a year is wasted on meetings that are unnecessary — and meetings themselves can offer […]

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tec

Making decisions with disagreements

When it comes to business strategies and problem-solving, not everyone shares the same perspective. Before a decision can be made, it’s not uncommon for a disagreement to occur. As a leader, it’s your role to manage these disagreements without letting them disrupt the flow of your organisation. Sometimes, it’s not always important, or even possible, […]

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TEC

The art of defining a market for business: Lessons from Norwest Recruitment

60% of Australian small businesses will fail within the first three years. When polled, 44% of failed Australian businesses suffered from ‘poor strategic management’ and 40% ‘fell victim to inadequate cash flow.’ Many of these businesses failed not because of a lack of opportunity but because they were not able to properly define their market and execute related strategies. […]

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TEC

3 important considerations fuelling CEO decision-making today

At a recent TEC conference, over 300 members were asked about the biggest decision they’ve made in the last 90 days and the biggest one they will make in the coming 90 days. From the pool of answers, there were three topics that stood out most prominently. Download the e-book to receive actionable tips to […]

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The task of delegating tasks

Only 28% of businesses offer any training regarding delegation — even though half of them are concerned that delegation is not being handled effectively. For CEOs and managers, delegation skills are not optional. In fact, these are the only way to progress. The process of delegation is the process of prioritisation — letting go of tasks that you can allow […]

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CEO’s greatest barrier to innovation is time

TEC’s Confidence Index Report revealed that 35% of CEOs consider time as the major barrier to innovation. Time is a precious resource — it cannot be purchased, bartered, or sold. And this is especially problematic given that 52% of CEOs have cited new products or services as the centrepiece of their growth plans. To develop these […]

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tec

CEOs struggle to find the right skills and talent

With confidence in economic growth and stability rising, many CEOs are looking towards expansion. A problem arising, however, is a difficulty in finding talent. 63% of the CEOs polled in the Confidence Index Report (CIR) cited talent as a major issue impacting growth. Both political issues and the changing employment markets are creating challenges. As […]

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the executive connection

CEO confidence on Australia’s SME growth

TEC’s Confidence Index Report (CIR) paints an optimistic future for Australia’s businesses, even if there may be some challenges ahead. The CIR outlines not only some of the positive aspects of the Australian marketplace but also some of the most pressing issues CEOs must address if they are to succeed. With a well-developed strategy, business […]

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tec

How to unlock data in your business

Big data is currently a global industry worth an estimated $130.1 billion — and it’s expected to grow to more than $203 billion by 2020. Businesses in all industries have begun capturing and analysing large volumes of data to produce superior business outcomes, but not all businesses are using this data as effectively as they could. Businesses […]

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the executive connection

How to build a foundation for exponential business growth

Growth is a balancing act. Grow too quickly, and you run the risk of over-extending your organisation. Grow too slowly, and you may be eclipsed by the competition. Growth is critical for an organisation to survive, yet two-thirds of the fastest-growing companies will fail. This is because growth operates as an accelerator: all the positives and negatives of a business […]

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tec

How to manage your star employees

Employees are what drives a business — and that’s why businesses are always competing for the best talent. Industry professionals have estimated that up to 90% of an enterprise’s value is driven by its intellectual capital, but you don’t need to rely upon such abstract estimates. It’s already known that the average employee costs six to nine months of […]

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Most popular TEC articles so far in 2017

TEC’s blog is comprised of an extensive list of resources suited to the eyes of SME CEOs and executives. If you missed one of our weekly posts, below is a list of our top blog articles thus far in 2017.   1. The guide to organisational structures (flat vs hierarchical)  An organisation’s structure forms the very […]

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