It's a BIG deal

Today, millions of Americans are still experiencing the pain of the recession. In fact, I'm sure we've all been affected by the recession. Either directly or indirectly, whether it’s a friend or family member that has been layed off, you’re facing a foreclosure, or trying your best to avoid bankruptcy. Case in point, a dear friend of mine shared with me a more recent conversation she had with a Washington Mutual (Chase) Collections Manager. I was sitting in my office when I received the text message. What I read had me sitting in stunned disbelief.

So what did the text message say and how is it relevant to the conferencing business? The Conferencing business is a big deal. Many of our customers have included conference calling services in their business plans as a means to communicate to their own customers, sell their own product and services, and to compete on a global level. To these customers, conferencing is a big deal and we at ConferenceSuite are honored to have been included in the most important part of their business.

Unfortunately, things happen...and the best laid plans don't always go as..well, planned. In this case, we sometimes have to send a customer to collections. For most, it's an embarrassing time. Nevertheless, they are still our customer. We did not choose them. They chose us and more often than not they passed positive feedback about our business along to others. That said; here at ConferenceSuite we operate under the idea that word of mouth is not viral, relationships are.

So what did the text message say you ask?

"You don't rate customer service, if you want customer service pay your mortgage on time!". Those were the exact words of a Washington Mutual (Chase) Collections Manager after being told that one of her collection representatives were being unjustifiably rude. Good old, what have you done for me lately customer service. The Collection Manager went on to say, "I don’t believe that my number one collector was rude to you". Mind you, Chase did not call my friend to collect on a debt. To avoid foreclosure, my friend called Chase to pay on her mortgage.

Being downsized is a big deal and foreclosing on the American dream is an even bigger deal. So I ask..What message is your collections department sending your customer? Yes..customer. Does your business offer unconditional customer service or is your customer service conditioned only for paying customers?

This is a call to all businesses. Your customers want to be loyal so now is the time to ensure loyalty with your customers. These are challenging times for us all and there hasn’t been a better time to show our customers what we’re really made of, what matters? Get back to the basics of customer service. Listen, understand, and satisfy or peeve a customer and through word of mouth (and the internet) literally thousands of potential customers can be won or lost. How your customers perceive your business today, during these troubled times may very well define your company tomorrow. Don't Chase your customers on the way out.

Businesses worldwide confidently rely on ConferenceSuite to deliver the best audio, web and video conferencing services at the best rates. For more information, visit http://www.conferencesuite.com

Manage Your Conference Call Usage Through A Flexible Billing System

More businesses than ever are discovering the advantages of using video and phone conferencing. Not only is the technology easy to integrate into your company's daily operations, but it's far less costly than in-person meetings. Unfortunately, many providers continue to resist the pressure to offer a flexible billing system. While phone conferencing is cost-effective and easy-to-use, managers and business owners need the flexibility to manage their usage on their schedule, not the provider's.

Today, we'll explore the types of invoicing that many conference call providers offer their customers. We'll compare the rigid billing systems of yesteryear (which many providers oddly insist on using) with more flexible options.

Real-Time Billing Reports

Ideally, you should be able to log into your conferencing account online in order to get up-to-the-minute details regarding your usage. Your provider should also let you customize your billing reports to track your usage for any given period of time. Years ago, it was expensive to install this level of visibility. But, that's no longer the case.

For some reason, a lot of conferencing providers still refuse to offer this flexibility with their invoicing system. Some will let you log into your account, but only provide usage details from the past billing period. Others don't provide online access to your account, but instead send invoices to you by email.

It's more important than ever to have transparency in your company's monthly expenses. That way, you can reduce your costs more effectively without limiting the tools your business needs.

Paying On Your Schedule

For some managers, paying for their conference calls on a monthly billing schedule is fine. If their usage is minimal, the bill might have little to no impact on their business's cash flow. However, being able to pay your invoice on a schedule that you choose offers more control of your company's expenses. Also, keep in mind that a monthly billing cycle may only show your conference calls for a period that ended several weeks in the past. That makes it difficult to actively manage your usage.

Your provider should give you the ability to invoice yourself according to any schedule that meets your business's needs. What's more, that invoice should be up-to-date.

The Flexibility Of Customized Invoicing

Being able to customize your invoice offers a greater level of tracking and analysis. For example, you might want your bill sorted by the names of various departments, your billing ID, call dates, or other parameters. Or, you might want the call participants who have the highest number of minutes for a given period listed at the top. The problem is that many providers don't give their customers this level of customization. In effect, every customer is forced to use the same billing template. That lack of flexibility may seem insignificant, but it can make managing your usage more difficult.

Your conferencing service should give you the billing flexibility you need in order to effectively manage your business's cash flow. If your current provider doesn't do this, it may be time to consider your options.

Businesses worldwide confidently rely on ConferenceSuite to deliver the best audio, web and video conferencing services at the best rates. For more information, visit http://www.conferencesuite.com

Avoiding Hidden Fees When Choosing A Call Conferencing Provider

Conference calls continue to replace face-to-face meetings as businesses frantically seek ways to reduce their monthly expenses. The costs associated with travel arrangements, transportation, and hotels can turn an in-person meeting for 20 people into a financial and logistical nightmare. By contrast, a conference call practically eliminates those costs and can be organized quickly.

Unfortunately, shopping for a reliable provider is fraught with potential pitfalls; hidden fees lurk under the surface. Today, we'll explain how to choose a conference call provider while avoiding an assortment of unnecessary fees.

Monthly Fees And Lower Rates

Sometimes, monthly fees are appropriate. If your company intends to use a certain number of minutes each month, a plan that charges a flat rate might offer significant savings. Often, such plans will either provide unlimited usage or low per-minute rates. On the other hand, if you don't expect to organize many conference calls or only need the service occasionally, paying a monthly fee may be more expensive than necessary.

Review your conferencing needs and work with a provider who can support those needs as they grow. Start small. In time, you may discover that conference calls fit seamlessly with your business and wish to upgrade to a more robust plan.

Setup And Processing Fees

Some conferencing services charge a setup fee while others don't. The setup fee alone should not preclude your using a given provider, especially if they offer unique features that are valuable to your company. That said, the setup fee is not always necessary and you can often ask the provider to waive it.

Processing fees are more problematic, partly because they're usually arbitrary. Making matters worse, a lot of conferencing services hide them; customers only become aware of the fees once they've begun using the service. For example, you might be charged a minimum usage fee if you fail to use the number of minutes allotted to you. You may be charged a fee for using a toll-free account despite being led to believe you could do so free of charge. Some fees are even hidden as taxes.

Ask your conferencing provider about setup and processing fees prior to opening your account. A reliable service will be happy to clarify.

Contractual Pitfalls

There is rarely a justifiable need to sign a long-term contract in order to use a call conferencing service. Yet, some of the largest names in the industry require their customers to sign 12-month contracts that lock them in. Most of the time, these agreements come with an early termination penalty; cancel before the contract expires and you can expect a hefty cancellation charge.

If you're absolutely certain that your company will be using a specific conferencing provider for years, a long-term contract may not seem as ominous. However, there are few - if any - benefits to signing one.

Streamlining Your Business With The Right Conferencing Provider

Conference calls can be a fantastic way to reduce your company's monthly costs. The key to finding a dependable provider is to be aware of the various fees that may be unnecessary. Ask upfront. Don't be afraid to negotiate. And if a service requires that you sign a long-term contract, consider looking for a solution elsewhere. With the right provider, the added convenience and lower cost of call conferencing can streamline your business and improve your ability to compete.

Businesses worldwide confidently rely on ConferenceSuite to deliver the best audio, web and video conferencing services at the best rates. For more information, visit http://www.conferencesuite.com

5 Smart Business Choices For Thriving In A Down Economy

A recession is always challenging for businesses, no matter how small or large. And especially today as the credit markets remain tight and consumer confidence continues to plummet, companies have begun to panic. But, savvy business owners can not only weather the economic storm, but emerge as dominant forces within their market. All it takes is few shrewd choices and plenty of diligence. Here are 5 smart decisions that can help you navigate the rough waters of the current recession.

#1 - Plan Your Week In Advance

Too often, small business owners fall into the trap of reacting to circumstances. That can destroy your productivity. Set aside time at the end of each week in order to plan the following week. Consider the actions you'll need to take and the resources required to take them. That can include meeting with vendors, planning your advertising efforts, and catering to your customers' needs. By planning your week in advance, you can avoid reacting to emergencies which will help preserve your budget.

#2 - Be More Responsive To Customers

As a small business owner, one of the advantages that you enjoy is your ability to respond quickly to your customers' needs. In a recession, that flexibility and responsiveness becomes critical to your success. Take advantage of it by developing a "response plan" for your business. For example, check your email every 2 hours throughout the day and respond to questions from prospects and customers. Follow that "response plan" diligently.

Remember, finding new customers is always more expensive than selling to existing customers. Be more responsive and you'll reduce the attrition rate.

#3 - Cut Your Costs

Even companies that pride themselves on running lean operations develop bloat over time. There are always opportunities to reduce your expenses. Ask your vendors and suppliers for discounts. Consider eliminating employee perks that are unnecessary. Replace in-person meetings with conference calls (we'll explain this in more detail below). This is the perfect time to review your monthly costs. Every dollar you save can be reallocated to efforts that can help your business grow; for example, advertising.

#4 - Maintain (Or Increase) Your Advertising

Whenever rough economic times cause turmoil in the business landscape, the first budget to be slashed is advertising and marketing. That decision can be disastrous. By reducing your advertising efforts, you risk losing market share to your competitors. That's not to say that you should indiscriminately flood your market with advertising. Instead, consider the impact of each media buy; allocate your resources toward those which yield the most productive results.

#5 - Replace Face-To-Face Meetings With Conference Calls

Every face-to-face meeting that you organize with your clients, vendors, or your staff carries an enormous cost to your business. Hard costs include transportation, hotels, and food expenses. Soft costs include lost employee productivity and diversion from existing projects. Phone and web conference calls all but eliminate many of these expenses. Not only are conference calls more cost-effective than face-to-face meetings, but they're also far more convenient. They can be organized on short notice for a fraction of the cost of meeting in person.

Growing Your Business In A Recession

It has never been more important to uncover opportunities in your business to save money and use your resources more effectively. That includes planning, being responsive to customers, and maintaining your advertising efforts, even as your competitors are pulling their own efforts back. Also, be aware of opportunities to reduce your expenses; using conference calls as a replacement for face-to-face meetings is a perfect place to start.

The key to remember is that a recession, while financially distressing, can set the stage for positioning your company to take advantage of the coming economic recovery.

Businesses worldwide confidently rely on ConferenceSuite to deliver the best audio, web and video conferencing services at the best rates. For more information, visit http://www.conferencesuite.com

Conference Calls Versus Face-To-Face Meetings: Which Solution Is Best?

When business is good, it's easy to forget that there are limits to our financial resources. Sales move along at a healthy clip, revenue expands, and budgets seem boundless. In that environment, a lot of business owners and managers overlook the costs related to organizing face-to-face meetings. When business slows and budgets shrink, those costs can become crushing. An alternative is necessary.

Today, we're going to explore the advantages of conference calls. We'll explain why they make sense, not only during the current economic crisis, but even when business is thriving. To drive the point home, we'll also calculate the true cost of a hypothetical face-to-face meeting.

Reasons To Meet In Person

To be sure, there are benefits to meeting in person; mostly, it's a matter of nuance. For example, it's easier to look across a table and see boredom in someone's eyes. Are they fidgeting or slouching in their chair while you're speaking? Also, physical contact like a handshake or pat on the shoulder can carry weight. Meeting in person isn't without value. The question is whether doing so makes sense given your limited budget.

The True Cost Of Face-To-Face Meetings

Managers and business owners often underestimate the cost of organizing an in-person meeting. When you factor in travel expenses, food allowances, hotels, transportation, and the cost of each employee's downtime, the price tag can soar. Below, we'll describe the true cost of a hypothetical meeting. We'll assume that 10 employees are participating, each earns an annual salary of $60,000, and the meeting is an all-day event.

Travel expenses per employee: $300
Hotel room for one night: $200
Transportation (rental car): $50
Meals and refreshments: $100
Salary (adjusted for one day): $240

Total cost for each employee: $890
Total cost of a face-to-face meeting for 10 employees: $8,900
Annual cost of organizing a monthly face-to-face meeting: $106,800

We haven't factored in the cost of each employee's downtime. Keep in mind that requiring your staff to travel in order to meet in person pulls them away from other projects. Measuring the cost of doing so is extremely difficult.

It's clear that face-to-face meetings are expensive. In fact, given your budget, they may be cost-prohibitive. That's one of the reasons why web and phone conferencing offer a better solution.

Advantages Of Web And Phone Conferencing

The two biggest advantages of organizing a virtual meeting are price and convenience. From the example above, you can see how in-person meetings can quickly decimate your budget. A web conference or phone conference carries a fraction of the cost. And while a face-to-face meeting can take weeks to plan, a virtual meeting can be organized within hours.

Another benefit of phone and web conferencing is increased productivity. Even though there's an implicit expectation that employees will work while in transit, that's rarely the case. For example, a Harris poll that was taken for Delta Air Lines found that only 5% of traveling employees work while they're on the plane.

So, which solution makes the most business sense for your company: virtual conferencing or face-to-face meetings? Recently, we've seen several of the largest companies in the U.S. shed thousands of employees in order to cut costs. Every budget is finite. The further you can stretch yours, the more competitive you'll be in your market. That's why you should consider replacing face-to-face meetings with phone and web conferencing solutions.

Businesses worldwide confidently rely on ConferenceSuite to deliver the best audio, web and video conferencing services at the best rates. For more information, visit http://www.conferencesuite.com/

ConferenceSuite's Top 3 Ways To Stay In Business In A Recession

With the economy continuing to roil, we've officially entered the second year of a deepening recession. Newspaper headlines are filled with sobering tales of perishing companies battered by lagging consumer confidence and tightening credit markets. How will your business survive?

Here are our top 3 strategies for surviving and thriving during the recession.

#1 - Make An Extraordinary Offer To Attract New Customers

In November of 2008, Frank Mancari, owner of an Oak Lawn, Illinois car dealership, was desperate. With gas prices soaring, he needed a way to move his fleet of large Chrysler Pacificas. Mancari devised a crazy plan to get people to visit his lot: if they bought a Pacifica, they'd receive a 2008 PT Cruiser for $1.

He's not alone. In Escondido, California, Michael Crews Development offered $400,000, 2,000-square foot homes for free when customers purchased a home in San Pasqual Valley for $1.6 million.

Thriving in a recession often means doing the unthinkable to generate business. For example, we're giving new customers spending $400/month or more in conferencing up to $250 in cash bonuses when they sign up for our services before February 27, 2009. Other companies are reining in their marketing budgets. That's the wrong approach in an economy where customers have less reason to make a purchase right now. Everyone is trying to win the sale – and only those companies that stand out will succeed.

#2 - Help Your Existing Customers Weather The Soft Economy

Business owners are concerned about the immediate future. Their access to capital has been severely limited during the past year and they need to conserve cash flow. Rather than watching your existing customers struggle, find a way to provide them a little economic relief.

Last year, a conferencing provider contacted their customers and gave them a nice surprise: the provider would waive account and usage fees during the last two months of the year. Compared to the recent federal bailouts, that offer may seem insignificant. But, it created enormous goodwill and launched a buzz that spread virally.

#3 - Plan Productive Conference Calls

Everyone is trying to save money during the recession, but one of their most valuable resources is slipping through their fingers: time. Most meetings and conference calls waste enormous amounts of time because they're not well planned. Every minute spent in a meeting is a minute that cannot be billed; it's a minute that is taken away from interacting with customers.
Conference calls are a great way to maximize productivity, but they must be structured.

Tips For Maximizing Your Conference Call Productivity

Patrick Lencioni, author of "Death By Meeting," suggests that meetings should be interactive rather than passive, and must be structured around tactical and strategic objectives. Along those lines, here are a few tips for improving the productivity of your conference calls:

Create an itemized agenda. It should clearly detail when you need certain people to participate. That way, they can connect to the call when they're needed rather than wasting time.

Limit your invitation list. The more participants who are on your conference call, the greater the likelihood for delays. Plus, by not inviting people who don't need to attend, you effectively free up their time for other projects.

Limit the length of your conference call. People get bored and their attention wanes. If you need 2 hours of time to cover your agenda, split it between 2 60-minute calls.
Create the meeting rules and stick to them. You must manage your conference calls according to the rules you establish beforehand. That's the only way to maintain productivity.

The current recession creates an economic challenge for all of us. Now is the time to review your marketing efforts to new and existing customers. You should also do everything you can to retain your most valuable asset: your employees. When the economy starts to gain steam again, you'll be able to hit the ground running.

Businesses worldwide confidently rely on ConferenceSuite to deliver the best audio, web and video conferencing services at the best rates. For more information, visit http://www.conferencesuite.com