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Social media etiquette

There is no denying that social media is fast becoming the most powerful way for businesses to communicate with their existing and potential customers.

Although it has become a new approach to communication, businesses should always remember to treat their customers as if they were dealing with them face-to-face.

Here are some important rules to remember when using social media for business:
Fill out details
Fill out the profile information completely, providing the name of the business, a way to make contact and some information on what services and products the business offers. This will assure the customer that the businesses profile is legitimate.

It is important to have an appropriate profile picture such as the company logo so that clients are able to easily identify with the brand. It is not a good idea to have the same profile for both business and personal use. Creating separate accounts will keep clients separated from friends and ensure that the business maintains a professional image.

Use manners
It may seem simple, however treating clients with respect online can go a long way. Things as simple as saying ‘please’ and ‘thank you’ can give a positive image of the business. It doesn’t matter that the interactions are occurring behind a screen, clients should be treated exactly how they would in person.

Offer something of value
Use the social media platforms to engage with customers and offer them something of value. Clients will become quickly bored with images and posts only about the business. Don’t just restrict content to only focus on the business, interact with clients about current events or topics that are relevant to the business, or find interesting quotes and images to share. Facebook and Instagram are also key platforms for offering competitions or giveaways. Clients will be eager to be active on the profile if they are getting something out of it as well.

Don’t over-share
Although businesses are keen to be active on social media to ensure that they are reaching their target market, this can be just as bad as not posting at all. No-one likes the friend who barrages their page with multiple posts a day and the same goes for businesses. Keeping posts to one or two a day will keep the business active on their clients feed; however will not annoy them enough so that they click ‘unfollow.’

It is a good idea for businesses to implement a content plan and map out when, and what, they will post to each social media platform. Also, think about the best time to post for the target audience. For example, if the business targets professionals it would be ideal to post in the morning and afternoon when they are commuting to work as they are likely on their own personal social media pages.

Reread what is written
Consider composing tweets or posts in a word document before posting them. This allows time to edit the text for grammar and spelling mistakes. Also, remember that the Internet never forgets and one post in the heat of the moment can go viral, damaging the reputation of a business and losing a lot of clients.

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Understanding various kinds of super fees

February 16, 2018

No matter the kind of superfund you opt for, you will be subject to super fees. Understanding how these fees work and the difference they can make to your next egg is vital.

When it comes to superfund fees, there are two factors you need to get your head around; the kinds of fees you are being charged and the rate of fees you pay. Opting for a superfund based on these two factors can see you retire with hundreds of thousands more money.

You should be aware of the various types of fees you are being charged. If you would like to find out the fees you are being charged, you should do two things. Firstly, Google your fund’s product disclosure statement and scroll through to the fees section. You should see a list of different types of fees, with an explanation of what they are, how they are applied, and how often they will be incurred. Secondly, you should log in to your superfund account and take note of all the fees being charged to you. Investigate how closely these correspond and correlate with the product disclosure statement.

If you feel there are discrepancies, do not hesitate to contact your superfund or financial advisor and ask for clarification. It is worthwhile doing your research and comparing the fees you are being charged against other super funds and what they charge. Being complacent and not paying attention to your super is extremely irresponsible; the dividends you will receive later in life for being diligent now outweighs the burden of taking time to be informed today.

Some of the common super fees across the board include:

Another major factor contributing to how much you accumulate in your super account throughout your working life is the rate of fees you pay. Plain and simple, some funds offer much lower fees than other, creating a difference of hundreds of thousands of dollars when it comes time to retire.

Generally, funds are categorised into three groups; low super fees, medium super fees and high super fees. Ultimately, you want to be in a fund that charges low super fees. In saying this, it’s not only about super fees, as some funds have medium-high super fees but also perform better based on investment strategy, meaning you will get more back from your investments.