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Article URL: https://www.sirum.org/about#careers
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If you run or are starting an e-commerce business, you might have heard the term “minimum order quantity,” or MOQ, floating around. If you have heard of it, chances are you feel conflicted. There’s advice for and against this method. This makes it difficult to decide whether it’s the right choice for you, especially if …
The post How to Make Money by Requiring a Minimum Order Quantity (MOQ) first appeared on Online Web Store Site.
Have you ever felt like someone was watching you online? Those shoes you just searched for on Amazon suddenly show up in ads on Facebook. Maybe you start seeing ads on YouTube for a resort you were researching for an upcoming vacation.
The truth is, you are being watched. In fact, marketers have used cookies to track the actions of internet users for years—but that may soon change. Google announced they are ending the use of third-party cookies. As a result, most businesses will have to rely on first-party data for things like ad targeting.
What does that mean for your marketing strategy? It might not be as bad as you think.
Here’s what you need to know about first-party data and how to use it to create targeted paid ads. (Spoiler alert: It might actually be better for your PPC strategy in the long run!)
Before we dig into what this change means for your paid ads, let’s talk about the different types of data companies use in marketing.
First-party data is information companies collect from their own sources about their customers. For example, the data from your website tracking tool, your email subscribers, or surveying your audience.
Second-party data is when two or more organizations come together to mutually share their data. Third-party data is collected by one source, often aggregated, and then sold to a third party who has no connection with the original source.
To summarize:
Third-party data, the type Google is phasing out, refers to data collected from (as you might have guessed) a third-party, meaning a site or entity without a direct relationship with the original source.
Third-party data is collected, aggregated, and sold to other parties. The problem is the brands buying the data have little idea where it came from.
There are other issues, too. For example, you can buy third-party data, but so can your competitors. That makes it hard to be competitive.
This chart helps illustrate the difference between the different types of data.

The main reason third-party data is being phased out is due to major security and privacy issues.
David Temkin, Director of Product Management, Ads Privacy, and Trust at Google, shared,
People shouldn’t have to accept being tracked across the web in order to get the benefits of relevant advertising. And advertisers don’t need to track individual consumers across the web to get the performance benefits of digital advertising.
Advances in aggregation, anonymization, on-device processing and other privacy-preserving technologies offer a clear path to replacing individual identifiers.
Google isn’t the only one phasing out cookies. Firefox stopped using cookies in 2013, and Microsoft made “Do Not Track” their default setting the same year.
In addition to privacy issues, cookies aren’t as accurate as some might think. For example, they can’t always track users across devices.
If you shop on your phone for a pair of shoes but buy them on your laptop, you might still see ads for those shoes on your mobile device—which is terrible for ad spend, as brands waste money targeting users that have already converted.
As Google phases out third-party cookies, many brands will begin using first-party data to better personalize ads. What does this mean for your paid marketing strategy?
Don’t worry; you won’t have to rebuild your marketing strategy from scratch. However, there are a few changes you’ll want to pay attention to:
Day-to-day, the switch away from third-party data is unlikely to impact the marketing world in a massive way. Most brands will begin to rely on first-party data more; however, Google is also creating what they call a “privacy sandbox” to allow brands to target users without invading their privacy.
Brands that want to succeed shouldn’t rely entirely on Google’s new data plan because there are a ton of advantages to using this type of data?
Why should you consider moving to first-party data rather than relying solely on Google’s privacy sandbox?
For starters, most brands are increasing their reliance on first-party data, which likely means they are seeing positive results. According to Google, 87 percent of APAC brands consider it critical to their marketing efforts.

Let’s look at a few other benefits to consider.
First-party data is information you collect about your customers. This makes it more accurate because you know who it is about and where it came from.
Third-party data is sold and sometimes resold, which means brands have no access to the source data and, sometimes, very little idea about where the data is actually from.
Some people are really concerned about the end of third-party data, but I’m not. Why? Because first-party data isn’t just more accurate; it’s also much more efficient at driving consumers to take action.
According to a study by Boston Consulting Group, marketers that use first-party data see a lift in marketing efficiency, generating nearly double the revenue from a single ad or placement.
Standing out online sometimes feels impossible. With millions of companies, billions of internet users, and more content being churned out every day, brands that want to stand out face a ton of noise.
With third-party data, you and your competitors can buy the exact same data, which makes it pretty hard to be competitive. However, your competitors don’t have access to the data you collect, making it easier to test new initiatives or uncover opportunities about your own traffic and customers.
According to Forrester, 89 percent of digital companies invest in marketing personalization. It’s easy to see why when 80 percent of customers report they are more likely to purchase from brands that offer a personalized experience.
Using third-party data for personalization was never a perfect match. You might not know when a customer converts from another device or if the data you’re using is skewed. With first-party data, you can dive into personalization, secure in the knowledge that your data is accurate.
Imagine asking five people to create a puzzle piece. You give them all the same parameters for height, length, and shape. Even with the same directions, each of those pieces isn’t quite going to fit together.
The same thing happens with third-party data. Each platform might gather it just a little bit differently, which can make it almost impossible to pull all that data together. With first-party data, however, you gather the data. This means you can ensure it is standardized and works well with all your tools and systems.
Third-party data is purchased from another vendor, which means you are shelling out cash for data that is less efficient, less accurate, and harder to use. First-party data, on the other hand, is information from your own audience.
Which means you don’t have to buy it. You will have to pay a bit to collect and store the data, but it’s likely much cheaper than purchasing the data from another source.
We’ve covered what first-party data is, why Google is ditching third-party data, and a few of the advantages of using it. How do you actually put first-party data to use? Here’s what you need to know to use this data for ad personalization.
Before you start collecting data, take the time to figure out how you will use the data to further your marketing goals. How you plan to use the data will impact what type of data you want to collect and how you gather it.
You might use it to:
For example, if the data will be used to send more personalized email marketing campaigns, you could gather the data through an email survey.
Unlike third-party data, you can’t just buy first-party data; you’ll have to gather it yourself. Luckily, there’s no shortage of ways to gather it.
For example, you can collect first-party data from:
Before making a plan to gather data, think about how you plan the data to personalize your marketing. For example, retargeting ads, personalized product recommendations, or account-based marketing.
One of the major issues with third-party data is some web users don’t even realize they’re being tracked. As first-party data becomes more popular (and as privacy laws limit the data we collect about our audiences), it’s important to be transparent about the data you gather.
Ensure your audience clearly understands what data you collect, what you do with it, and how it’s stored. Being transparent about the data you collect and how you use it isn’t just the right thing to do, it’s required by law in some places, like the EU’s GDPR.
With third-party data, you get what you get. There is no way to change the type of data you collect or adjust how you gather it.
With first-party data, you can test to figure out the best way to collect data by adjusting how you gather it or test and tweak how you use the data by A/B testing ads to see what your audience responds to.
Third-party cookies are coming to an end. What does that mean for marketers? It means it’s time to start leveraging first-party data for personalization. The good news is, it is more accurate and cheaper, and it can even improve marketing efficiency.
The first step to using first-party data is to find a way to collect it through polls, customer surveys, or website tracking tools. Then make a plan for how to use it. If you need help getting it set up, we can help.
Are you planning to use first-party data for ad personalization? What are your marketing goals?
If you run or are starting an e-commerce business, you might have heard the term “minimum order quantity,” or MOQ, floating around. If you have heard of it, chances are you feel conflicted.
There’s advice for and against this method. This makes it difficult to decide whether it’s the right choice for you, especially if you don’t understand how it works and how it can make you money.
In this post, you’ll learn what an MOQ is, how to set one that won’t make your customers run for the hills, and how to use the strategy to increase your profits and reduce your expenses.
Before we jump into the good stuff (like how to make money with an MOQ), let’s dive into the minimum order quantity definition.
An MOQ refers to the minimum amount someone can order from a business.
For example, imagine you’re a wholesaler on Alibaba. You create an MOQ of 100 units, which means your customers need to purchase 100 units or more to do business with you.
You can also make your MOQ a dollar amount. For example, your customers need to spend a minimum of $500.
Why would you want to use an MOQ? Simply put, it protects your business and profit margins. If someone wants to order only five items from you, it’s sometimes uneconomical to start the production process. If you do, you’ll end up losing money.
With an MOQ in place, it ensures you’re covering production costs and making a profit.
Do MOQs only work for manufacturers or wholesalers? No. You can apply MOQ strategies in direct to customer circumstances as well. For example, you can set a minimum spend to qualify for free shipping or product.

Calculating your MOQ is tricky.
It’s a key part of maintaining inventory control, but it differs wildly from business to business. There’s no fixed formula to calculate your MOQ, so you’ll need to customize it to your business.
How do you do this?
Follow the steps below to create your unique MOQ formula.
Forecasting demand is at the core of your MOQ formula.
You need to consider your different products, seasonality, competition, and any other factors that will affect how many units you’ll sell.
The data can help you plan out your next purchasing order from suppliers and your production turnaround to make sure you can match demand.
Other things to take into account include:
Example: You sell phone cases and determine you’ll move 10,000 units each quarter. However, your sales are seasonal. During Q4, you sell 15,000 due to the Christmas demand, and your sales drop to 5,000 units in Q2. On average, your phone cases take one week to produce and ship.
Next, you want to work out your break-even point.
This is the minimum number of products you would need to sell to recover your costs and start making a profit.
It’s the sweet spot where your revenue from sales exceeds your costs.
Example: If you sold five phone cases, how much revenue would that bring in compared to what you spent on production, salaries, and other expenses? You determine you need to sell 100 cases to break even.
Your holding or inventory costs is the price it costs to store your products before shipping to a customer.
It will cost you more money to hold your inventory over extended periods. The quicker you can move items, the lower your holding expenses and the higher your profit margin.
However, not all goods carry the same holding cost.
Some might require refrigeration, which will increase your electricity bill, while other items like phone cases can sit on a shelf for months at room temperature.
Example: You determine it costs you $2,000 per month to store 500 phone cases.
With all the data collecting out of the way, it’s time for your final calculation.
Let’s say your phone case customers currently purchase on average 200 units.
You need to sell 100 units to start making a profit.
You can make your minimum order quantity 200 units. It will cover your break-even point of 100, and you could drop your MOQ to 150 if you need to and still make a profit.
As a manufacturer and seller, there are many benefits to switching to an MOQ business model to boost your bottom line.
The main benefits of MOQ include:
Okay, let’s get to the good stuff! We’ve gone over the MOQ definition, the benefits, and how to create an MOQ formula for your business.
Now we’re going to discuss how you can start making more money by requiring an MOQ from your customers.
I know it can seem daunting to set one. What if you scare your customers away and no one opts in? If that thought is swimming around in your head, here are my top tips for implementing an MOQ and increasing (not decreasing) your profits.
MOQ isn’t only about improving your profit margin. It helps you find a small number of customers who are happy to spend more money with you.
No matter what type of business you’re running, it’s often easier to have a small number of high-paying clients than dozens of low-paying clients. Small or once-off customers mean it will take you much longer to reach your desired income goals while taking up more time and energy along the way.
MOQs help you weed out all the bargain hunters who want the lowest possible price and make room in your garden for repeat clients who are happy to spend larger amounts with your business.
Say hello, recurring revenue, and goodbye to an unstable income flow.
Why should you care about generating recurring revenue?
Want to incentivize your MOQs? Encourage your customers to spend a minimum amount by offering a discount.
You can:

Your MOQ will only work if the price is right.
You need your price per order to be enough to cover your expenses and make a profit, but it still needs to attract customers. If your minimum order amount is too high, you won’t get any orders, and you’ll sit with inventory for longer, driving up your costs.
After you’ve figured out your MOQ formula, do your market research. See what your competitors are offering and confirm a high enough demand before you start spending money on things you can’t recover, like warehousing.
What happens if your stock isn’t moving? Maybe there is a lull in the season, or you’ve tried a new product variation, and not enough people are biting.
One of the best ways to recoup your money and free up your inventory is with flash sales.
An excellent example of how well flash sales can work is Black Friday. Activewear giant GymShark frequently uses this strategy during the biggest sales day of the year and has broken in-house sales records by generating $400,000 in 60-minutes.
A well-executed sale can do more than move excess inventory or help you break even on poor-selling items. When done right, it can also increase customer loyalty and customer acquisition, which will boost your profits in the long run.

An essential part of any business is automation. It helps you do more with the same number of hours in the day and focus on the actions that move the needle forward.
When using an MOQ strategy, your success relies on having a good inventory management system in place. With a few clicks of your mouse, you can set reorder points for specific items, streamlining your inventory management process.
Other advantages include:
How to Calculate Your MOQ
Predict the number of sales you’ll make. To calculate this figure consider the products you’re selling, seasonality, competition, shipping time, and any other factors that may affect your sales figures.
Determine the number of products you have to sell to make a profit.
Figure out how much it costs to store your products before sending them to customers.
Figure out how many units you have to sell to turn a profit, how many you predict you’ll sell, and determine your MOQ accordingly.
What’s one of the most off-putting things about starting a business? Capital.
Not all of us have access to a lump sum of money to invest in an idea, and the thought of going into debt for a business that isn’t seeing results yet is terrifying.
With a minimum order quality strategy in place, you can reduce your upfront capital amount, cost per unit, and expenses like storage costs. The MOQ that works for your business is unique, and finding it requires research, planning, and understanding demand in the market.
However, once you have it, an MOQ can help you scale, avoid unnecessary expenses, and run a profitable business.
Capital isn’t the only thing you need to start a successful business; you only need a great digital marketing strategy in place. If you need help with that aspect, reach out to our agency!
Do you think minimum order quantity is a good business strategy? Why or why not?
There is a time and place for traditional business lenders, otherwise known as banks. However, they are not always the right option. Sometimes is takes too long to get funding from a bank. Maybe you do not qualify for a loan from a bank. This can be the case even if you are perfectly capable of repaying your debt. If business borrowing from a bank isn’t going to work for you, your next option is alternative lenders.
Alternative lenders are a totally legitimate option. They are exactly what their name implies, an alternative to traditional banks. However, just like banks, they have both pros and cons. You need to know and understand each when looking for financing alternatives for small businesses.
First, with alternative lenders, you typically get your funds much faster. So, if you need fast cash, this could be the way to go.
Also, the application process is usually faster and easier. Often you can apply online in a matter of minutes. Repayment terms are usually more flexible as well.
Find out why so many companies use our proven methods to get business loans.
Even better, these lenders will often take more into account that just credit score when it comes to approval. If there is a minimum credit score requirement, it is usually much lower than what traditional lenders require.
As a result, they have other eligibility requirements. These may include minimum revenue over a certain period of time, a minimum amount of time in business, minimum average balance in a business bank account, or all three. Other requirements may apply as well.
One of the biggest drawbacks of alternative lenders is that their interest rates are almost always higher, though rates vary based on perceived risk.
Also, the industry is a breeding ground for scammers. It’s important to know how to recognize predatory lending practices to avoid being taken advantage of if you are looking for an alternative lender.
Despite the risk of running into a predatory lender when it comes to alternative loans for businesses, there are some good companies out there. To give you a start, here are some alternative business financing options that we know and trust.
Fundbox makes it easier to get approval for financing. The minimum credit score is 500. Comparatively, this is much lower than with other lenders. Here are some things you need to know about Fundbox. First, they consider business merit as opposed to personal credit. For application purposes, they will do a soft pull on your personal credit. This will not affect your credit score. When you make your first draw, they will do a one time hard pull that could affect your score. Keep that in mind.
Kiva is an online lender that is a little different. For example, the interest rate is 0%. That means even though you have to pay it back, it is absolutely free money. They don’t even check your credit. Still, there is one catch. You have to get at least 5 family members or friends to give to the cause as well. In addition, you have to pitch in a $25 loan to another business on the platform.
Accion is a nonprofit lending network dedicated to helping small businesses. They offer small business loans, some grant opportunities, and other resources designed to help both startups and established small businesses grow and thrive.
Globally they have been working their magic for 55 years across 4 continents. Tens of millions of entrepreneurs have been helped by them. They came to the United States in 1991.
They lend to small business owners in general, from all backgrounds and most industries. However, they specialize in underserved populations like minorities.
They do not rely as heavily on credit as traditional lenders. Yet, they do require a minimum personal credit score of 575. The one exception is the Community Advantage program which requires a minimum of 525.
Other restrictions may apply based on a number of factors.
Streetshares offers a variety of financing and investment products with fast application processes and funds deposited almost immediately. Lending products never have a prepay penalty, and the credit check is a soft one. There is never any impact on your credit score for applying.
They lend to various types of businesses and business owners. Still, their early mission was to help veteran business owners, and they remain true to that mission today.
Find out why so many companies use our proven methods to get business loans.
This is alternative business financing rather than a specific alternative lender. The Credit Line Hybrid is a unique and powerful product that can serve your business needs in many ways. It allows you to fund your business without putting up collateral, and you only pay back what you use.
Your personal credit score needs to be at least 680. In addition, you can’t have any liens, judgments, bankruptcies or late payments. Furthermore, in the past 6 months you should have less than 4 credit inquiries, and you should have less than a 45% balance on all business and personal credit cards. It’s also preferred that you have established business credit as well as personal credit.
If you do not meet all of the requirements, it’s okay. You can take on a credit partner that meets each of these requirements. Many business owners work with a friend or relative to fund their business. If a relative or a friend meets all of these requirements, they can partner with you to allow you to tap into their credit to access funding.
As alternative funding sources go, this is one of the most flexible. There are many benefits to using a credit line hybrid. First, it is unsecured, meaning you do not have to have any collateral to put up. Next, the funding is “no-doc.” This means you do not have to provide any bank statements or financials.
Not only that, but typically approval is up to 5x that of the highest credit limit on the personal credit report. Additionally, often you can get interest rates as low as 0% for the first few months. This allows you to put more money back into your business.
The process is fast, especially with a qualified expert to walk you through it. Also, approval for multiple credit cards creates competition. This makes it easier, and even likely if you handle the credit responsibly, that you can get interest rates lowered and limits raised every few months.
Find out why so many companies use our proven methods to get business loans.
You can’t be too careful when looking for alternative financing methods for your business. The safest way to ensure you don’t fall prey to a scammer is to work with a business credit expert. They will not only have relationships with credible lenders, but they will also be able to help you find those with products and requirements that best fit your needs. CreditSuite has business credit experts ready to help. They have the skills and expertise necessary to help you navigate the business funding world. They can guide you toward products and lenders that will work best for your needs, and help you improve your fundability in the process. With strong fundability, you can access all types of business financing, alternative or not.
The post Alternative Lenders: Pros and Cons appeared first on Credit Suite.
Fount | Head of Business Development | Charleston, SC (Remote within US possible) | Full-time Contractor | 100K to 150K | Equity
Overview
Fount, a software development collective, is looking for a new Head of Business Development. The duties primarily consist of prospecting and closing new clients for our small, but growing team of senior engineers.
Responsibilities:
– Source new clients seeking experienced software development. Negotiate with, close and retain clients.
– Evaluate all inbound prospects.
– Maintain direct communication with our development team to understand projects that are of interest. Keep current on our team’s availability and skills.
– Administer contracts and all payments.
Experience that could make you a great fit:
– You’re immersed in the startup and growth-stage tech scene. – You regularly see opportunities where our team could accelerate a company’s roadmap where they are on a short timeline, lack the right resources, or are unable to hire full-time employees.
– You’ve worked in venture capital and know a lot of funded companies that need help with growth.
– You’re familiar with the digital agency world or have a strong network of agencies that occasionally need more reliable and senior-level talent for projects.
Example, an agency handles visual design/creative for clients, but needs app development for a project.
– Your network includes midsize and large brands that don’t have the in-house tech talent available for one-off projects.
How we operate:
Email, Slack, Meet/Hangouts
The team is based in Charleston, SC but operates remotely with team happy hours every quarter.
We’re mostly asynchronous and always respectful of each other’s time. Bi-weekly, 30-minute all-hands meetings via Google Meet.
Compensation:
Commission only – Fixed percentage of the revenue from all paid contracts – with no cap. You’ll be the only business developer, but have the opportunity to grow the software development (and design) team, as well as your business development team. Further, our collective model has a transparent equity model. You’ll be on an ownership path.
Process:
Email jd {at } fountstudio.com with your background or a link to it. We’ll set up a short call/hangout to see if you could be a fit.
Dive | SDET 2 | India | Remote | Full Time | https://www.letsdive.io/
Dive is a fun space for remote teams where team members can socialize. You can see who’s online, call a group, play games, watch movies together, or bond on common interest areas. You can talk, screen share, and do video chat with a click.
We are growing rapidly and are looking for a SDET to join our early stage engineering team. We are seeking someone who has experience building automation test frameworks and executing extensive test strategies across both Frontend and Backend components of web applications. You’ll be responsible for placing guardrails for the dev team to build quality software products and to makesure the platform is reliable, scalable and of high-quality for thousands of people using dive during their everyday lives.
We’re a relatively small team of about 4 people – meaning your work will have a lot of impact. We truly encourage being yourself at work and it shows in the creative code we write 🙂
Our Customers love us. Our users are from 32+ countries and teams from Facebook, Google, Gitlab, Uber, Airtable etc. who absolutely love using Dive.
We use: AWS, Kubernetes, Docker, gRPC, Django, Go, Node.js, Cassandra, MariaDB, Redis, React, Redux, Javascript
If you are interested in joining our small and passionate team drop me an e-mail to om[at]letsdive[dot]io – come chat about what we’re doing, or if you have questions!
More Info: https://www.notion.so/letsdive/SDET-2-544a5597a41a489ba983f5…
At Paper.li, we highly value the power of content in all forms and the importance of building an outstanding personal brand. That’s why we launched The Personal Branding Playbook, where we share a proven method …
The post Grow Your Brand: Here’s How to Distribute and Share Your Content appeared first on Paper.li blog.
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At Paper.li, we highly value the power of content in all forms and the importance of building an outstanding personal brand. That’s why we launched The Personal Branding Playbook, where we share a proven method … The post Grow Your Brand: Here’s How to Distribute and Share Your Content appeared first on Paper.li blog.
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