AusTech

Business and Technology Articles Contributed by UWA Students

Month: May 2018

Competitor analysis from UWA student startups

students-in-library.jpgIn the business environment, your competitor is your best teacher. By using results of competitor analysis, a business entity not only can understand its strengths and weaknesses but also identify prospects for strengthening their market position against competitors. Competitor research is usually carried out by professionals in a digital marketing agency or an in-house marketing team, who use different tools and tricks to monitor competitors, gather insights, and use them to fine-tune your digital marketing plan. Some of the top tips recommended by experts are:

1. Know your competition
Identifying the competitor(s) is probably the most elementary part of the research activity, which many people tend to take lightly. It doesn’t matter what the scale of your business is or what kind of market you are operating in; every company will face competition in some way or the other. Knowing your competition will tell you a lot about your position vis-a-vis industry preferences. To do so, you need to find out who else is focusing on the same target market and how they are resolving the problems of that market.

2. The content strategy
To improve your online presence, the most important thing to focus on is your content strategy. Your strategy should be open to changes after conducting a two-step exercise – one, knowing your competitor’s best content and then two, your industry’s best content strategy. This assessment will help you identify areas where you have to do better than the competition and how you have to update your content according to industry preferences. Imagine if your content is all about text, blogs and graphs but your industry trends have inclined towards videos and webinars. You would undoubtedly want to change your content marketing plans before you lose online visitors.

3. SEO strategy
Two websites with almost similar content can yield completely different results because of different structures of their SEO. The SEO strategy analysis begins by observing the use of keywords in different sections of the website, like page title, URL architecture, links, etc. Other than the location of the keywords, one also needs to pay heed to the choice of keywords and how relevant are they to the target traffic.

4. The social media
How a company presents itself on social media is at the heart of its digital marketing plans. Social media accounts let companies interact with online users, share content and gain insights into consumer behaviour. In competition research, a company tries to determine how their competitors are integrating digital platforms with marketing plans. The key to winning the upper hand over the competition is by understanding how efficiently they are using their resources to achieve their goals

5. Using the insights
While conducting competition research, it is essential to take note of even seemingly insignificant details. These details will help you connect the dots for the bigger picture when the analysis process is complete, and the results are analyzed. Remember, every competitor will have something or the other lesson that you can use to improve your operations. At the end of the research process, one needs to go through observations carefully and strengthen weak links in their performance.

Business ventures for the entrepreneurial student

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Australia is a popular choice for international students – with almost half a million choosing to pursue their studies here every year. Yet, despite that, there’s no getting away from the fact that coming here is an expensive business for those overseas students. In order to obtain a student visa, for example, people need to show they have access to $19,830 a year for living costs, while the average tuition fees for international undergraduates is just under $30,000 a year.

With that in mind, it’s little wonder that international students look for ways to earn some money to fund their time here. Typically, that has meant taking on a role in retail, admin, behind a bar or cleaning. While there’s nothing wrong with this – and these continue to provide perfectly good avenues of employment – they’re far from the only ways for international students to earn their corn while in Australia. This group – containing some of the brightest minds from across the planet – can also think more creatively and tap into their talents to make a few dollars on the side of their studies.

Money making ideas for international students

So, what can entrepreneurial students look to do on the side?

Writing/proofreading: Student are used to writing. A lot. That means they are not daunted by putting complicated concepts into words – and tend to have a flair for expressing themselves. Experienced undergraduates and postgraduates can, therefore, use their experience in this to good effect. Whether it’s helping people to write a CV, offering to help write website copy for businesses or taking on freelance writing assignments, their way with words can be lucrative.

Tutor: International students arrive on these shores with a varied background. Many speak other languages, for example, and can easily put their knowledge of their native tongue to use in helping to teach Australians. Even those who only speak English might have a skill – maybe playing a musical instrument – that they can use to tutor others.

Investing: With very few Australian banks offering savings accounts with an interest rate above 3%, having your money locked up in a bank isn’t especially lucrative. Students with a good idea of how the financial markets work can make their money work harder for them with smart investing. Clearly, they need to know what they are doing and understand the risks involved but students with a strong economic knowledge can, thanks to share trading software, invest smartly in an easy and effective way.

Build websites: Modern day students have the benefit of being digital natives. That means many of the things about the fast-paced smartphone-driven world in which we live that are daunting for businesses really aren’t for students. Many small and medium sized companies need help in designing, building, maintaining and improving their websites and cannot afford for a professional to do this for them. Entrepreneurial students with an eye for coding, knowledge of SEO, a keen eye for copywriting or any development expertise can put this to great use.

Clearly, students’ main focus needs to be their studies. But, by thinking about their strengths – both academic and non-academic – they can be creative with their time and earn themselves a sum of money that will ease the financial burden they face during their time here in Australia.

How card readers are changing the corporate landscape

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If you want to add a card reader in your business, there are tons of great options to be had. But the reality is, do you need more than one or not? It all comes down to a variety of features and factors that you need to consider. It all comes to a unique set of ideas and all of them do add up to quite a lot of great results. And while there will always be some issues and problems to deal with, adding good solutions in your business can pay off quite a lot.

The need for a card reader

The magnetic card readers are pretty much inexpensive right now. And the best part is that you can get more than one if you need to. But as you can imagine, sometimes the challenge comes from adding everything and making it run properly, while also interconnecting with one another. That’s where the major problem comes into play, so you really have to adapt to the situation.

Is it a good idea to have more than a single card reader? As you can imagine, each business has its own needs. If you have a small business and you do need a card reader, chances are you don’t need more than one. But on the other hand there are companies that need multiple units like this. So you really have to study your company’s requirements.

After all, you’re getting this for your business, so you really want to deliver great results this way. While it can be a bit tricky at times, it can also be quite rewarding to have multiple card readers.

Installing multiple card readers can be tricky

The issue usually comes from just having multiple units to deal with. That can be quite challenging on its own, so you really have to adapt to the situation as you try to identify the right option. But in the end, you will notice that many companies will choose to use more than just a card reader. The RS232 magnetic card reader in particular is a very good option, but there are a host of other ones that you should check out, just because they are so amazing and good in their own right. It’s a great opportunity to have and one that does bring in front some unique options to explore. So yes, you really have to think about that if possible.

In the end, you will notice that we put a lot of hard work and commitment into each project. So you can indeed rely on our team to bring the efficiency and help you always wanted. It’s a great opportunity to be had, and one that can do wonders for you in no time. This is why you can opt for multiple card readers if you want to instead of a single one. But it’s better if you spread them within your entire business, as that makes a lot more sense.

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