Skip to content

Archive

Array

Accounting professionals have a lot of career options open to them, making it a versatile, practical discipline within the business world. In general, accountants provide all types of organizations with analysis of performance and a record of activities. They give companies the information they need to make informed and ethical decisions.

There are two main certifications within the accounting profession: certified public accountant (CPA) and certified management accountant (CMA). Several differences exist between these two types of certifications, and depending on your career goals and interests, one may appeal to you over the other. We’ve put together a guide to understanding CPA vs. CMA to help you decide which track is right for you.

CPA vs. CMA Job Descriptions

Certified public accountants work in many different types of industries and offer income tax information for both public and private clients. Many also perform business record-keeping tasks, auditing, and consultant work. In addition, CPAs prepare and analyze financial reports to ensure that companies comply with all federal and state laws. They may oversee budgets and perform financial management tasks. CPAs in a consulting role recommend fiscally advantageous methods that businesses can use to save money and be more efficient.

Certified management accountants, on the other hand, work specifically with a company to advise it on financial matters that affect it as a whole. This is in contrast to CPAs, who work at a more basic level to perform specific accounting tasks. Though CPAs can work for the public, CMAs solely work for private organizations. They serve as in-house consultants in all financial affairs. These professionals also perform control functions and inform decision-makers about the financial situation of the organization. CMAs are sometimes part of executive teams that participate in strategic planning.

Requirements and Certification

To become a CPA, you’ll need to earn a bachelor’s degree in accounting. You will also need to pass the four-part CPA exam, which is administered by the American Institute of Certified Public Accountants (AICPA).

The educational requirements for CMAs are broader. Although you must still hold a bachelor’s degree, you can choose to study disciplines outside of accounting, such as economics or finance. In terms of certification, you will need a GRE or GMAT score in or above the 50th percentile and two years of management accounting experience. This experience must be gained before applying for certification.

Salary and Career Outlook

According to PayScale, the average salary for a CPA is approximately $65,000 per year. CMAs, on the other hand, have an average annual salary of about $50,000.

The employment outlook for accountants of all types is strong. In fact, the Bureau of Labor Statistics projects that the number of jobs for the profession will increase 10% through 2026.

It Starts With Education

Both CPAs and CMAs require a bachelor’s degree in accounting or a related field. The online bachelor’s in accounting program from Concordia University, St. Paul can help you get the credentials you need and prepare for certification. Through the program, you’ll explore a strategic approach to problem solving, as well as industry trends, rules, and regulations. As you learn from faculty who have real-world experience in the accounting field, you will have the flexibility to study when it’s most convenient. In addition, our online program allows you to transfer in up to 90 credits.

Array

You may not go where you want to in your career with a general business degree. As professionals saturate the market with these degrees in search of their dream job, hiring managers are busy looking for their dream candidate to fill gaps in their workforce. And, they are looking for candidates who have a business specialization for a more complex understanding of the job, responsibilities and industry trends. Today’s student is looking to stand out in the candidate pool by narrowing their degree focus and targeting their education to position them for greater success in the job market and overall career satisfaction.

Marketing is a growing business field that is drawing the attention of professionals interested in the consumer side of business. Marketers coordinate marketing programs for firms, including identifying prospective consumers, determining product demand, defining pricing structure and strategies for products to maximize profits, oversee product development and production, and more

According to the Bureau of Labor Statistics (BLS), the majority of marketing professionals work in an agency setting while a smaller percentage work in management of private companies and enterprises. Marketing professionals are sought across all industries, leading to strong growth numbers. According to the BLS, job growth through 2020 is an estimated 14 percent, which is about as fast as the national average. However, specialized credentials can give you an edge in a crowded candidate pool.

Concordia University, St. Paul offers two unique business tracks for the professional who has an interest in consumer behavior and promotional tactics. Our online business degree programs in marketing could be the credential you need to land the job of your dreams. Take a look at our two marketing business tracks to see if this is the degree for you.

Bachelor of Arts in Marketing

Our bachelor’s degree in marketing is designed for the adult learner looking for entry into a fast-paced and competitive field. Curriculum takes a comprehensive approach to business education by bridging traditional business building blocks with advanced marketing concepts.

The 40-credit hour program is offered fully online. Courses include the following:

  • Innovation and Complex Systems
  • Marketing Innovation
  • Integrated Marketing Communications
  • Marketing Research
  • Interactive and Mobile Marketing
  • International Marketing
  • Applied Business Ethics
  • Applied Accounting and Finance
  • Marketing Strategy
  • Business Plan

Master of Business Administration with a Marketing Analytics concentration

A Master of Business Administration (MBA) is an attractive credential for employers looking to hire a candidate who demonstrates a heightened sense of leadership, possesses strong communication skills and displays an understanding of progressive business competencies. However, many employers are looking for a more specialized credential beyond the MBA that speaks to the job at hand. At Concordia, you can tailor your MBA for a more focused academic experience and targeted career path. Among our concentrations is the marketing analytics track, which explores curriculum designed to help you balance consumer behavior, business ethics, research and decision making to established streamlined marketing tactics for optimal profits. The concepts studied through this concentration are applicable to a diverse range of industries for greater career opportunities.

MBA students are eligible for our Mentor and MAP (managerial application portfolio) program, which pairs you with a faculty member who guides and supports you throughout your program and prepares you for life after graduation.

The 42-credit hour MBA in Marketing Analytics is offered fully online and was voted a Top 10 MBA in 2013 by Twin Cities Business. Courses include the following:

  • Organizational Leadership and Development
  • Integrated Marketing Communication
  • Managerial Research Methods
  • Global Economics
  • Applied Business Ethics
  • Strategic Human Resource Management
  • Managerial Finance and Accounting
  • Legal and Regulatory Health Care Environment
  • Customer Analysis
  • Analytics for Business Intelligence
  • Marketing Decision Models
  • Marketing Strategy Monetized
  • Managerial Application Portfolio

Concordia University, St. Paul is committed to offering unique and quality degree programs that prepare you for today’s workforce and meet the challenges of today’s economy. As professionals look for more specialized education credentials for greater leverage in the job market, targeted business degrees offer a track to career success. Consider enrolling in our online bachelor’s program in business and continuing your education with our MBA to build a solid foundation in marketing principles and the framework for future innovation.

Array

Project management is vital for business leaders in any industry, but guiding a project from conception to execution isn’t always straightforward. That’s where strong project management skills come in.

Businesses of all types and in all industries have one thing in common: They set goals to manage growth and success. In order to hit key milestones, stakeholders look for business leaders who can carefully plan, organize, and execute projects while being mindful of available resources. That’s what makes project management such an important skill set for business professionals looking to advance in their careers.

What Is Project Management?

Project management is directing the tasks that result in the efficient achievement of goals set by business organization. It takes various resources — including time, people, and money — into consideration in order to reach or exceed customer expectations. Effective project management strategies usually include the following elements, identified by Six Sigma:

  • Project planning
  • Communication with clients
  • Coordination of team members
  • Evaluation and monitoring of progress
  • Paperwork and accounting
  • Problem identification and elimination

While projects could derail for many reasons, successfully navigating the project management process can help ensure that your team meets its objective, on time and within budget.

Project Management Skills

The following are five of the core project management skills that business leaders need. 

  • Resource allocation: One of the most important skills associated with project management is resource allocation. Effective project managers are able to identify the right people for each task and delegate work fairly. Business leaders may need to coach or guide team members to ensure that they have the right context and training for their assigned work. There are also more pragmatic aspects to resource allocation, such as creating schedules and sending out status emails at key points in the project.
  • Risk management: Project managers must be able to plan for setbacks; this is an important element of risk management. Being as prepared as possible can ensure that when roadblocks arise, they can be dealt with efficiently. Minimizing disruption and implementing an action plan can save a project from derailing. Working closely with team members and keeping them informed is also critical.
  • Negotiation: Communication is an invaluable interpersonal skill in the business world. For project managers, being able to negotiate “the use of resources, budgets, schedules, scope creep, and a variety of other compromises” is a useful communication strategy, according to project management company LiquidPlanner. Finding ways to collaborate with other teams and stakeholders can help projects succeed.
  • Time management: Of course, being able to manage time effectively and prioritize the various tasks involved in a project is essential. Managers should be able to estimate the amount of time a task will take, then ensure that the team member responsible stays on target. “[Project managers] need to be able to see that every member of the team contributes to each ongoing project and foresee the end results,” Forbes says. Time management helps maximize productivity and minimize waste.
  • Personal organization: To coordinate the work of others, project managers should have strong personal organization skills. Finding the tools and strategies that work best for you can involve some trial and error: Using a digital calendar and task management system rather than a paper planner or calendar could be a good start. Overall, staying organized is the best way to keep track of commitments, both to the team and to the business as a whole.

Develop Project Management Skills with an Online MBA

Earning a Master of Business Administration (MBA) can help you gain the project management skills you need for continued career success. Concordia University, St. Paul’s online MBA program balances advanced business coursework with hands-on projects, providing you with relevant industry competencies they can apply directly in the workplace.


You can download our free guide “Climbing the Corporate Ladder: Your Guide to the MBA and Beyond” for an in-depth look at the value of the MBA.

Array

Brand ambassador programs are a powerful advertising tool used to promote businesses via word-of-mouth marketing strategies. The most successful brand ambassador programs can both increase brand awareness and enhance marketing efforts. In practical usage, the term “brand ambassador” can have two meanings, according to Ignite Social Media: “It could mean fans who are just really passionate about a brand or product and share their love on their own accord, or it could mean a branded, deliberate program by a company to find, embrace, and engage their biggest fans.” For our purposes, we’re referring to the latter.

Brand ambassador programs are a smart way for companies to utilize existing customers to boost existing marketing campaigns. Aside from standards like social media, email, and content marketing, working directly with consumers is one of the most effective ways to spread the word. As The Muse puts it, “one of the best ways to get the word out about your company is by getting in touch with your target audience and leveraging them to market your brand.” In fact, 84% of consumers trust online reviews as much as personal recommendations. So whether they know the reviewer personally or not, your customers value what brand ambassadors have to say.

Best Brand Ambassador Programs

With the widespread use of social media among consumers of all ages, brands can access some of the benefits of brand ambassadorship without launching a formal program. However, in order to make the most of the opportunities out there, incorporating elements of some of the best brand ambassador programs can have a significant positive impact on marketing efforts. Here are some of the top brand ambassador programs to give you an idea of where to start.

1. Yelp

The Yelp Elite Squad recognizes individuals “who are active in the Yelp community and role models on and off the site,” according to Yelp Support. Membership is based on a variety of variables, such as well-written reviews and useful tips. Members of the Elite Squad have a badge on their account profile to designate them as members. The yearly program requires members to re-nominate themselves to ensure a high-quality ambassador pool is maintained.

2. Lululemon

This athletic clothing company has focused its grassroots brand ambassador program on targeting “local influencers, elite athletes and outstanding yoga instructors who create community, provide feedback on product and partner with Lululemon on social impact programs,” according to Fashionista. In order to increase brand loyalty, the program supports ambassador philanthropic projects and initiatives.

3. Red Bull

Red Bull took a novel approach to its student ambassador program. Associating the brand with events that imply a lifestyle of excitement rather than just a drink — think music festivals, athletic events and more — allowed Red Bull to build a brand that became a lifestyle. Ambassadors are able to directly reach the target audience of college students because that’s who they are themselves. As a result, Red Bull can become a part of students’ daily routines. To find the right ambassadors, Red Bull looks for individuals who reflect the brand’s identity of excitement and energy.

4. Coca-Cola

Through its employee ambassador culture, global soft drink brand Coca-Cola is able to harness the marketing power of its own workers. Coca-Cola actively supports and appreciates employees, building a company culture that lends itself to ambassadorship from within. Coca-Cola also uses the personal social media power of employees to promote the brand.

5. Maker’s Mark

One of the most effective brand ambassador programs in terms of customer retention is Kentucky-based bourbon brand Maker’s Mark. As an ambassador, you must share your preference for Maker’s Mark with friends, family, and acquaintances in exchange for a variety of perks,” such as personalized brass plates and bourbon barrels. The program heavily focuses on cultivating a sense of “exclusivity and prestige,” with top-notch benefits like holiday gifts and event invitations. Because each bourbon barrel takes six to seven years to be ready, this program creates a years-long connection between brand and customer, which is no easy task.

Become an Expert in Business or Marketing

With a business or marketing degree program, you can explore topics that are relevant to growing brand recognition. Concordia University, St. Paul offers online bachelor’s degree programs in both business and marketing. Through coursework in relevant topics, the programs provide you with the skills you need to become an expert in your industry and advance your career.

Array

When considering going back to school to earn a degree, one of the concerns students most often express isn’t if they are able to handle the coursework. It’s how they will fit their education into an already busy schedule. With work commitments, family, and other demands, it’s easy for students to think that they don’t have the time to get a degree.

However, you can plan and prioritize your way to success, especially if you consider online learning. The flexibility of online degree programs combine all the value of traditional education with the added benefits that are only possible in an online format. Use these tips and tricks for balancing work and college to meet your educational goals.

1. Stay on schedule.

The first and possibly most important step you should take when you go back to school is to create a schedule that accommodates both work and studying. There are only so many hours in the day, and mapping them out is a great way to keep yourself organized and accountable. Set aside a specific time each day to do coursework or study, making sure that you keep your work hours in mind. Whether you study on your commute or in the evening before bed, figure out a plan that works for you and stick with it.

2. Separate work and school.

Another way to keep your life balanced is by creating a boundary between work and school. This means that you don’t study when you should be working, or let work interfere with your online classes, in the name of multitasking. Although this can seem daunting, it can help to think of school as a part-time job. Your school and work schedules should be kept separate, just as two jobs would be.

3. Get a support system.

Make sure your friends and family know that your schedule is about to change. When the people in your life understand that you’re going back to school, they can be great sources of help and support. Whether your spouse steps in to do some household chores or your friends text you and ask how classes are going, their encouragement will help you achieve your goals.

4. Study something you enjoy.

If you are interested in the field of study you pursue, there’s a better chance that you’ll actually enjoy learning about it. This means that you’ll devote more time to your degree program and also be more motivated to succeed.

5. Use your resources.

Most schools offer a wide variety of resources for online students. From instructors and student success coaches to online library access, additional support is always available. Whether you are struggling with a particular topic or just confused about an assignment, don’t hesitate to reach out for help if you need it. The interactive nature of online education means that you have access to resources when you need them, from email to live chats.

6. Stay healthy.

When you have a packed schedule, it’s easy to put health on the back burner. However, while skipping a few hours of sleep a night may seem like an easy way to fit more in your day, in the long run, it can lead to illness and burnout. Practice healthy eating habits, get enough rest, and make time to exercise a few times a week — doing so is vital to your physical, mental, and emotional well-being.

7. Relax.

Taking time to relax may not seem like a priority, but allowing some “me” time each week is important. Whether that means a weekly dinner date with your friends or staying in to watch movies, relaxation is important to give your mind a break.

8. Keep your goals in mind.

As you work to balance work and your degree, remember why you’re doing so. Everyone has their own reasons for going back to school, from increased earning potential to career advancement. Whatever your personal reason is, keep it in mind so that your goals are always in sight.

Concordia University, St. Paul is ready to help you meet your goals through continued education. Our online programs are designed for working adults. We use a variety of online tools to enhance our courses and make them more effective for nontraditional students. Learn more about our online programs and discover what the Concordia advantage can mean for your career.

Array

Marketing is a viable profession that helps businesses strengthen their relationships with consumers. A traditional business degree program provides only a basic foundation of the skills a marketing professional needs, but additional courses can supply the knowledge needed for a successful career in the field.

10 Interesting Courses for Marketing Students

These courses will help you expand your knowledge of key marketing subjects so that you can advance further in a marketing career.

Innovation and Systems Thinking: Innovation is the new rule for business. This course examines how you can maximize opportunities through the organization of innovation. You will explore how innovation affects business decisions, including the allocation of resources, and the dynamics and culture of organizational structure.

Marketing Principles: With the right skills, you can successfully integrate marketing and business strategies to gain an innovative advantage in the digital world. Through this course, you will explore various marketing perspectives and trends. The knowledge you gain can help you promote growth for a business.

Marketing Information and Analysis: Having the right data and being able to analyze it to grow a business is an essential part of marketing. This course explores core management concepts and strategies that can help increase workplace efficiency and improve consumer experiences.

Applied Accounting and Finance: Budgets can foil your best marketing plan. This course provides a basic overview of financial information for non-finance majors so you can better serve your company in a marketing capacity. You will explore budgeting, time value of money, and ethical and global considerations.

Integrated Promotional Strategy: This is a comprehensive course that explores marketing, advertising, sales promotion, and PR skills, as well as their strengths and weaknesses. You will explore how to strategically plan and develop campaigns using targets, timing, and messages.

New Media Literacy and Social Media: With social media becoming more popular, developing the skills that allow you to gain exposure in the new media landscape is crucial. This course explores mobile, digital, and social media and how to create strategies and assess their effectiveness.

Legal Environment of Business: When you are in charge of making business decisions, you need to understand the legal aspects. This course teaches you the various regulations that affect businesses, such as constitutional law and product liability.

Business Fundamentals and Entrepreneurship: Being an entrepreneur takes discipline and strong decision-making and problem-solving skills. Through this course, you will find out what it takes to be an effective entrepreneur as you develop a business plan and make day-to-day decisions in its dynamic environment.

Business Strategy Plan: This capstone course allows you to create your own business plan for maximized outcomes using the knowledge and skills gained throughout your degree program.

Become a Marketing Professional

A marketing degree program can help you achieve your professional goals and enter the field of marketing. Through Concordia University, St. Paul’s online Bachelor of Science in Marketing program, you can transition or advance your career while learning essential business skills. As you explore innovative marketing principles, you will become prepared to apply your knowledge to answer marketing and business challenges. Designed for busy adult students, the program’s convenient online format allows you to study at a time and place that’s right for you.

Array

As an online student at Concordia University, St. Paul, you have several tools and perks available to you. Here’s what you should know before you start your first day of classes:

1. Get Acquainted with CSP Connect

Take a moment to bookmark CSP Connect on your browser. CSP Connect allows you to access a variety of student resources that you’ll be using throughout your time with CSP: Blackboard, online library and tutoring services, email, financial aid, and course registration.

2. Access Your Courses with Blackboard

Blackboard is your portal to classes. You can access it directly or through CSP Connect by clicking the chalkboard icon. Typically, during the week before classes begin, your assignments, syllabi, and discussion boards will be posted here. You will need to know how to log into Blackboard before the start of classes.

3. Find Sources and Get Expert Help at the Library

Our library allows you to find the sources you need for assignments online. You can search for what you need or browse guides, databases, and journals. Need help finding the right peer-reviewed study or literature review for a paper? You can speak directly with a CSP librarian by using the chat feature. If no one is available, you can send an email to reference@csp.edu.

4. Utilize Free Tutoring Services

The Writing Center at CSP offers online and email sessions for assignment help, specific questions, and general writing skills. You can seek tutoring here at any stage of the writing process, from brainstorming and outlining to revising, editing, or polishing a nearly finished draft. You’ll also have free access to tutoring services at Brainfuse. Brainfuse allows you to receive live, on-demand help from certified tutors in a variety of subjects.

5. Get the Textbooks You Need

The online bookstore allows you to access course materials, see what textbooks are required for your classes, and compare prices. Aside from textbooks, you can purchase apparel, gifts, and much more.

You can access the bookstore at csp.bncollege.com.

  • Click on the “Textbooks” drop-down and select “Find Textbooks.”
  • You can find course materials by selecting Term, Department, Course, and Section.
    • Select the correct department. For example, history would be HIS.
    • Next, choose the course and section that you have enrolled in. Please refer to your registration information if you are unsure.
  • Finally, choose the yellow button at the bottom for “Find Materials.” This will bring you to the page where you can see what books are required for your class. You can select the format you would like to receive your textbooks, including rent and buy.

6. Enjoy Free Perks

As a CSP student, you receive plenty of benefits if you live near or are visiting the St. Paul, Minneapolis area. You can obtain a free campus parking permit, free admission with your CSP ID to most home athletic games for the Concordia Golden Bears, and free tickets with your CSP ID to most fine and performing arts events.

7. Join a Club or Organization

As an online student, you can still get involved in a club or organization. You can explore your passions, meet new friends, and build your leadership and professional skills. If a specific club or organization doesn’t already exist, Student Senate offers the opportunity for any student to propose and have funded new clubs and organizations.

Currently, there are dozens of clubs and organizations available to all CSP students.

  • Cultural clubs like Global Student Club and Saudi Club
  • Academic clubs like Business Club, Psychology Club, and American Institute of Graphic Arts (AIGA) Association Student Group for Design
  • Service organizations like Concordia’s Sisterhood of Empowerment (CSE)
  • Sports and health organizations like Fellowship of Christian Athletes (FCA) and Zumba Club
  • University organizations like Student Alumni Council (SAC), Student Athletic Advisory Committee (SAAC), and Student Senate

8. Take Advantage of Career Development Services

CSP’s Office of Career Development has career advisors who can work with you on career exploration, graduate school prep, internship assistance, interview and job fair prep, job search strategies, LinkedIn/social media, major exploration, networking, resume/cover letter/CV, and self-assessment.

Appointments are available in-person or over the phone Monday through Friday, from 8:00 a.m to 4:30 p.m. Central Time.

9. Get Advice from the Blog

Our blog includes several resources for current and potential college students. Posts span basic advice for studying and earning your degree. You’ll also find program-specific information that can help you understand certain topics within business, education, technology, and other subjects. There are plenty of fun, informational pieces that you can enjoy and share with friends and family.

Here are some examples that you can check out:

10. Get to Know Your Academic Advisor

One of the most helpful resources at Concordia St. Paul is your academic advisor. Some students say that the support and assistance they receive from academic advisors help made completing their degree possible.

You will be paired with an academic advisor who will help you with degree planning and getting you registered for the courses you need, but that’s just the beginning. Your academic advisor is there for you with anything else you may need. Need help with time management and study techniques? Need school resources to help you with classes? Or are you just looking for someone to talk to? Your academic advisor is there to help, or they can find someone else to assist you.

Learn More About What CSP Offers

Along with these resources, Concordia St. Paul strives to provide its online students with an excellent education. We give you the tools you need to succeed throughout your online program. You can learn more by visiting our Online Experience page.

Array

There has been rapid change in the United States health care system in recent years. Organizations have encountered emerging trends related to payment models, regulation, technological advancements, and workforce transformation. In addition, population models are shifting fast: “To be sure, both payer and provider executives will continue to plan for the projected 80 million Medicare beneficiaries in 2030. Still, seniors will soon be outnumbered by millennials as the patients demanding care from the U.S. health care system,” Managed Healthcare Executive explains.

With the uncertain future of the Affordable Care Act, health care management professionals must find a balance between delivering the highest-quality patient care and meeting business needs. The following are some of the top health care trends of the past few years.

1. Technological Advances

One of the most well-publicized trends in health care is the advent of new technologies that make health a more personalized experience. “Consumers are much more digitally attuned than ever before, and they want the delivery of their healthcare to be convenient and easy,” Managed Healthcare Executive notes. One of the ways this is accomplished is through telehealth services.

Younger patients, in particular, are utilizing telehealth, which includes patient portals and live video chats with health care professionals. In fact, 40% of millennials support the use of telehealth, according to Business Insider. Telehealth services are ideal for consumers who live in rural areas, as well as those who prefer not to take time out of their day for office visits.

Wearable health monitoring is another new innovation in health care. “With help from automation, patients can even be prompted to check their weight, pulse, or oxygen levels, and enter results into mobile patient portals,” Forbes says. They can also share health information with their doctors in real time. This can be lifesaving, especially for elderly patients.

2. Network Security

Though technology is, of course, improving health care delivery and services, it does introduce some serious concerns when it comes to security. When a data breach occurs, important and private consumer information can lead to medical identity theft. In fact, there were 87,765 cases of medical and insurance identity theft in 2018 alone, and the average victim spends $13,500 to fix the issue. If an organization doesn’t have adequate security measures in place, it can face lost revenue through lawsuits and loss of reputation.

3. Patients as Consumers

Patients are also participating in their own health care in a new way. With high deductibles that continue to increase, they are looking for tools to provide price and quality information so that they can determine if they’re getting the best value for their money. This consumer approach to health care means that providers are feeling pressure to give patients ways to comparison shop and understand the cost of their medical care. Consumers are expecting price transparency, and in order for health care providers to succeed, they will have to meet this expectation.

4. Enhanced Communication Through AI

Because of preventable medical errors, more than 250,000 patients in the U.S. die every year, according to a study conducted by Johns Hopkins. It’s not just because of miscommunication among medical staff members, but also because of miscommunication between patients and their doctors.

Along with telehealth, as mentioned above, doctors are seeking ways to improve communication through the use of artificial intelligence. While patients can schedule appointments and talk to their doctors from the comfort of their home, physicians are enhancing their ability to interact with other doctors to improve the quality of health care.

Make an Impact on the Future of Health Care

With health care trends like these affecting the modern health care system, now is an exciting time to be a health care management professional. They are at the forefront of innovation, leading the changes that continue to transform how patients access health care services.

If you are interested in the business of health care, consider Concordia University, St. Paul’s online MBA in Health Care Management program. With coursework that focuses on both core business topics and the latest trends in the health care industry, this program gives you the confidence to impact the future of health care and become a leader in the field.

Array

Many business professionals begin their career in sales positions, and with good reason: Sales is a key component for a profitable company. In fact, “The caliber of the salesperson, in a B2B environment, is the most important factor influencing prospects’ decisions to buy,” according to Yahoo Small Business. Whether you are just beginning your business career or seeking advancement, an arsenal of effective sales techniques can help you on the path to success.

Sales Tips for Success: Getting Started

The following are some general sales strategies ideal for those new to the field.

  • Be yourself. Try to be as authentic and genuine as possible to let your personality guide your approach to sales interactions. Your interactions with clients should feel natural, and most decision-makers can sense a false sales persona. Convey to clients that you care about their needs and their business, rather than focusing on just the end result. Being too calculated can turn potential clients off.
  • Do your research. The sales world can be tough, with steep competition and a fast pace. That’s why it is important for you to thoroughly research both your competitors and your target clients. While sales techniques and strategies can remain consistent across many industries, it’s vital to get to know your industry. Inc. recommends making sure “you make note of something that you are doing that your competition is not. This is oftentimes the biggest selling point, so you don’t want to ignore it.” The more research you do, the better able you are to create personalized pitches that increase your chance of success.
  • Have a plan. Always identify the type of sales interaction you will have and plan accordingly. Will your pitch take place over the phone, in person, or through video chat? You should also plan your discussion topics so that you can structure the conversation as much as possible. Your plan should vary based on each client’s needs, business type, and other factors. Think of it as optimization: You want to create specialized plans that are designed with a specific target in mind.
  • Set goals. You should also set goals on a regular basis, both individually and with your supervisor and team. As with any goal, revisiting your sales goals consistently and adjusting based on progress are key. This process can be as complex or straightforward as you want to make it — a good starting point is to identify an annual sales target, for example.

Other Effective Sales Techniques

These more advanced sales tips are all about closing the sale. Experienced sales professionals can use these sales techniques to boost their outcomes.

  • Find the problem or need. Your goal should always be to help the client identify the problem your product or service can solve. Your client may not be aware that there is a problem, but it’s your job to point it out if that’s the case. Help clients understand the need and how your team can help them fulfill it.
  • Summarize three main points. Too much information at once can overwhelm potential clients, and your time with them is often limited. That’s why summarizing the product value into around three points is helpful. This strategy helps you persuade the client in a straightforward way. Yesware suggests identifying three pain points, listing out three positive outcomes, or mentioning three top customers.
  • Learn how to apply pressure. There is finesse to applying pressure in order to close a sale. Too much pressure can turn clients off, while not enough pressure might keep them from signing on the dotted line. Researching potential clients can help you gauge how to do this, based on their personality and level of interest.
  • Have an action plan. End each client discussion by setting up the next meeting in concrete terms, rather than leaving the next step up in the air. Identify the next steps while the client is in the room (or on the phone). New Breed Marketing suggests asking everyone to open their calendars and schedule a next meeting on the spot when possible.
  • Follow up. Stay in contact with a potential client between conversations, even if you’ve scheduled your next meeting. This allows you to keep lines of communication open and keeps the client focused on your product. In your follow-up conversations, mention specific points that were discussed in a previous meeting. This conveys to clients that you were listening and are aware of their needs.
  • Prepare for objections and field them. Clients will always have objections or reasons not to move forward. Work with your team to brainstorm examples in advance and prepare your answers. “Preparing the sales presentation to address and overcome potential objections can speed up any deal,” Inc. explains. This helps to reduce resistance.
  • Practice your pitch. Ensure that your pitch is well-prepared through consistent practice. Leading up to your client meeting, get your team together to field potential questions and tighten up your approach.
  • Create a sense of urgency. Employing a “now or never” or “limited time offer” mindset is an effective way to incentivize your client to commit. Whether you place a deadline on the deal or offer them a discount, take steps to foster urgency and help clients understand that they are getting a great deal.

Become a Strong Business Leader

With a strong background in business, you can learn advanced sales techniques to help companies increase their revenue. Concordia University, St. Paul’s online business and marketing programs teach you core topics that will help you advance your career while becoming an expert in your chosen industry, whether it’s sales, finance, accounting, or marketing. With our programs’ convenient online format, you will have the flexibility to study when it best fits your schedule.

Array

It is no secret that the weeks preceding Christmas are typically the peak selling season for retailers in the United States. As people purchase gifts, decorations, and food for celebrations, sales increase dramatically and retailers roll out discounts to draw in more buyers. In many cases, the Christmas shopping season can begin as early as October. Perhaps this is why some estimates suggest that a quarter of all personal shopping spending takes place during the holiday shopping season. The National Retail Federation reported that, “Holiday retail sales during 2018 grew a lower-than-expected 2.9 percent over the same period in 2017 to $707.5 billion.” While the government shutdown greatly impacted 2018 holiday sales, NRF still measured a 0.7 percent increase in the three-month holiday season. The federation also noted that holiday shopping moved up to October, with its retail sales up 5.7 percent. The last three months of the year are now the season of spending, and Black Friday has become a shopping tradition almost as popular as Thanksgiving itself.

During the season, retailers have added additional shopping holidays to the roster alongside Black Friday, both to increase sales and generate interest. However, in recent years many stores have pledged not to open on Thanksgiving Day, which would force workers to spend the holiday away from their families. A more recent holiday addition is Cyber Monday, the name of which was coined in 2005, “because people were making purchases from their computers at work, where the Internet connections were faster and their kids couldn’t get a sneak peek at their gifts,” according to Reader’s Digest. Cyber Monday falls on the Monday directly following Black Friday, and once the term was used, Cyber Monday sales skyrocketed. That Monday in 2005, online sales reached almost a half-billion dollars, a 26 percent increase from the previous year. 

These sales show no sign of slowing down. CNBC reported that in 2018, “Cyber Monday sales surged to new highs, with a record $7.9 billion spent online that day, an increase of 19.3 percent from a year ago.” Cyber Monday gives retailers the opportunity to market to consumers for a longer period of time, while benefiting from the shopping frenzy surrounding Black Friday weekend. More and more consumers are shopping online, choosing convenience over the crush of other shoppers. They can be sure the item they want is in stock and find one from another retailer if not.

Black Friday and Beyond: Strategies for Success

The post-Thanksgiving holiday shopping weekend is not as self-contained as it used to be. Increased sales happen before and after the day, so marketers are expanding their efforts to attract customers beyond those who shop on Friday. They no longer wait until the last minute to advertise or end discounts as soon as the stores close on Black Friday. The key is “offering Black Friday deals a week early, and extending Cyber Monday through the beginning of December,” according to Business News Daily. They extend business hours, opening as early as midnight and remaining open overnight through the next business day. Corporations such as BigCommerce even offer how-to guides to prepare for the onslaught of customers, including tips such as checking website speed, physical store setup, and brand promotion. How else do retailers draw in shoppers to boost their holiday sales?

Discounts

Because consumers are accustomed to getting deep discounts on goods, marketers often heavily promote Black Friday deals early and often. They use all of the channels available to them so that buyers can plan their shopping trip with their stores in mind. This could be through emails, catalogs, online streaming services, commercials, and even in-store advertising before the holidays begin. Business News Daily suggests that retailers “encourage existing customers to make holiday purchases by engaging them with exclusive online offers, in-store events and personalized discounts and promotions.” Expectations are high for deals, and retailers must rise to the occasion if they want to see good sales numbers.

Digital and Social Selling

CNBC reported that, in 2018, “Online sales on Black Friday jumped 23.6 percent from a year ago.” As more and more people take their shopping out of stores and onto the Web, marketers increase digital spend to meet consumers where they are. This is only becoming more important as time goes on and more people choose to shop from home on Black Friday weekend. On social media platforms such as Facebook and Twitter, dedicated “buy” buttons allow users to shop directly from their timeline. Savvy marketers take advantage of this by posting about their products as often as possible. Social media is a vital part of both Black Friday and Cyber Monday strategy.

Leveraging Loyalty

It is common knowledge in sales that acquiring new customers requires more time and money than getting repeat revenue from loyal buyers. That is why marketers roll out personalized discounts and exclusive offers to existing customers to encourage holiday business. They also heavily promote existing loyalty programs to highlight their commitment to great customer service. A great way to establish loyalty is what BigCommerce calls personalization: “Sending tailored, personalized marketing messages to the right people at the right time will increase your odds of conversions and sales.” 

Mobile Optimization

“Transactions on mobile devices were up 55.6 percent Cyber Monday from last year to reach $2.2 billion in sales,” according to CNBC. With the rising popularity of mobile technology, customers are researching deals early and, in some cases, making purchases before the Thanksgiving holiday. They can buy from anywhere, so it is in retailers’ best interests to have a high-quality mobile presence. If companies have mobile apps, they make use of push notifications to alert customers to sales and special offers. CNBC says that “Walmart, as one example, has added store maps to its app ahead of the holidays, letting customers pinpoint exactly where an item is and plot out their trips before they arrive.” 

Pickup Options

It may seem old fashioned, but retailers offer in-store pickup for items ordered online. The logic behind this is simple: Foot traffic encourages sales. Once customers are in a retail space, they are more likely to make additional purchases in person. Shoppers get free shipping while retailers increase the likelihood of additional sales. Offering layaway months in advance can encourage more shopping before the holidays.

Added Value

Another way retailers draw business is by offering additional perks for shoppers who purchase their goods. Going beyond the product itself and thinking about the needs of the consumer are key. Good examples include free gift wrapping and extended warranties. This is especially useful for smaller businesses that cannot necessarily compete with large chains like Target and Walmart.

Learn to Think Like a Marketer at Concordia University, St. Paul

If you are interested in the marketing strategies behind Black Friday and other retail sales, Concordia University, St. Paul’s online marketing degree program may be right for you. The Bachelor of Science in Marketing provides comprehensive, relevant marketing education that can lead to successful careers in the business world.