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How Do You Collect Feedback From Your Customers?

by Shamsul May 26, 2023

How Do You Collect Feedback From Your Customers?

Collecting customer feedback is one way to demonstrate that they matter to you. Indeed, by paying attention to their positive and negative comments, you prove your openness to criticism. It means a desire to improve your products, services, and customer experience. In short, you are getting to know your customer’s buying journey better.

 

How Do You Collect Feedback?


Whether or not you’re comfortable with technology, there are different ways to gather customer feedback. However, these methods do not apply at any point in the customer journey.
This is why using a combination of methods is recommended to obtain an accurate idea of the customer journey.

 

Feedback On paper


Technophobic customers will be able to fill out a short questionnaire on paper. This method is simple but also one of the most cost-effective. However, the compilation and analysis of responses take longer compared to an electronic version. It is best to use this feedback method only during the start-up period of your business, with a modest number of customers.

 

Feedback By Interactive Terminals


Installing an interactive kiosk can help measure the customer experience if you have a store. Simple to use, press a button or an option on the screen to give your opinion. By requiring little customer effort, you make it easier to collect feedback. In addition, if the terminal is placed in a strategic location, you increase the number of customer reviews. On the other hand, since this method collects opinions given on the spot, it offers little room for reflection.

 

Feedback On Telephone


Contacting a customer directly by phone is one of the surefire ways to get the most insightful answers about their product or service. Indeed, this feedback method makes it possible to adapt to the customer’s reactions, for example, by asking him for more details on certain answers. However, the telephone survey is an art to master since it must be used at times during which your customers will be able to answer you. Due to this time limit, it is best to contact regular customers only. Otherwise, this method needs to maintain its effectiveness.

 

Feedback By Chat


Why not install a chat application if your customers regularly place orders on your website? If they need help with your service or product, they can contact you through this app instead of email. This way, your customers get a response faster. And, on your side, you have a better idea of their customer journey and the main obstacles they encounter. This feedback method will help you optimize your website.

 

Feedback Trough Email


With a newsletter or a database, you can use it to send an email to all your subscribers. You can ask them to complete an online questionnaire or rate your business on a particular site through this email. The larger your database, the greater your chances of collecting feedback. For a more personalized request, you can also use email to reach out to your most recent customers and ask them for a testimonial. In addition to serving as feedback, it will be displayed on your website or other promotional material.

 

By Online Questionnaire


It is preferable to use the online questionnaire to obtain an informed opinion on your services and products. If you look to become more familiar with computer programming, various sites allow you to create one, such as SurveyMonkey, easily. However, remember that a short questionnaire is more effective than a lengthy questionnaire. Indeed, if it takes more than twenty minutes to fill it out, your customers will be discouraged and may give up along the way. Limit yourself to five questions, but only go up to ten questions.

 

By Customer Review Site


Depending on the sector of activity of your company, you will benefit from being visible on a customer review platform. Many people will actually rely on sites such as Tripadvisor to choose, for example, their next restaurant outing. Through these platforms, you increase your online visibility. If you have an unfavorable opinion, it is essential to be reactive and resolve dissatisfaction as quickly as possible.

 

Feedback From Social Networks


Facebook, Twitter, Instagram, and LinkedIn Social networks are everywhere. Your business does not have to be on all social networks, but it should at least join the one that brings together a large number of your customers. By joining a social network, you offer a space where your customers can express their satisfaction or dissatisfaction. In addition, if you are familiar with the features of your social network (e.g., the survey option), you can use it to ask your customers for an informed opinion. It is an inexhaustible source of feedback.

 

Standby Feedback


Customer review sites and social media aren’t the only places to find feedback about your business. Blogs and forums are also places where your customers speak well (or poorly) about you. To avoid scanning the entire web, it is best to use monitoring tools, such as Google Alerts. After inserting the right keywords, you will be alerted as soon as a mention of your company is available online.

 

What to Do With the Collected Data?


The worst error you can make with your feedback is forgetting about it. To use their full potential, you need to analyze them. Group your data by categories, for example, everything related to customer service. Then, synthesize this data and share this summary with your colleagues. By discussing your business problems as a team, you will come up with new solutions.

With these collection methods, you will get accurate feedback on the customer journey. However, getting feedback before your product or service is available can be helpful. In an effort to improve teamwork, the online solution has new features that allow commenting on onboard cards and mentioning another member in the comment.

 
 

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What is Micromarketing? Definition, Uses, and Examples

by Shamsul December 6, 2022

What is Micromarketing? Definition, Examples, and Uses

Micromarketing is a wonderful approach to target a particular group of people by advertising the trends. In a nice market, micromarketing is very important in order to advertise products or services to a specific group or people or customers. In simple words, it is a type of marketing but at a micro level. A company or business should define its target audience in order to take maximum advantage of micromarketing techniques. They can easily define their audience on the basis of different factors such as age, geography, gender, and profession. As a result, a company can easily target a particular audience or group. When compared to other marketing techniques, micromarketing could be expensive because it requires particular resources and customization.

 

What is Micromarketing?

As we mentioned above, micromarketing is basically a promotional strategy to target a specific niche with a specific service or product. Businesses or companies that operate in a highly competitive environment should take advantage of micromarketing. The main purpose of a company to use micromarketing is to enhance its sales, brand awareness, profitability, and customer base.

The overall success (or long term success) of a company or business is based on its marketing campaign. If its marketing campaign is effective, it will become its long-term success. Understanding your target audience, no matter what you offer or sell, is vital. This is also necessary to run a successful marketing campaign. Radio, TV, and newspaper-based marketing campaigns have become outdated. It’s an era of social media and digital marketing. These modern marketing methods are more powerful and useful than TV and radio. They help to get the attention of the customers in a great way. These days, companies and businesses are using customized marketing techniques to target different customer segments instead of targeting the mass audience.

In the 1990s, micromarketing was very common. With the continuous advancement of technology, things have become changed now. Now, it is easy to target a particular group in a niche market taking advantage of technology. Whether you are a small or big business, you can take maximum advantage of micromarketing. Small businesses can target their customers by running smaller campaigns that are cost-effective. But, large companies can divide their customer base in order to target each customer segment differently using micromarketing.

 

How does it work?

Micromarketing can be conducted in different ways. For example, if a brand decides to offer promotions or coupons to its loyal consumers, then it is called micromarketing. Tailoring your services or products according to the customers’ needs is also a form of micromarketing. In a nutshell, micromarketing can be done with various approaches. But, the lack of economy scale and customization are two major pitfalls of micromarketing. It requires so many resources to personalize various advertisements or marketing campaigns. This is the reason that it is so expensive. That’s why only large firms afford this strategy.

It is necessary to remember the difference between macromarketing and micromarketing. In macromarketing, a company specifically targets a large customer base or audience by advertising products or services.

 

Examples of Micromarketing

Uber and P&G (Procter & Gamble) are two companies that have utilized micromarketing campaigns. When Procter & Gamble launched its “Pantene Relaxed & Natural Shampoo”, it ran a special campaign to get the attention of African American ladies. When Uber tried to expand its business, it used social media platforms in order to collect data of the cities they were thinking to venture into. They identified the transportation issues of the regions that they wanted to capture. On the basis of collected data, they ran tailored or customized promotional campaigns to target the audience.

 

Important Considerations

Micromarketers collect data from social media sites and other digital platforms in order to make the right promotional strategy or campaign. The captured data is based on favored websites, geographies, and demographics. They analyze the customer spending power and their preferences. This is necessary to understand their demands. By designing a customized marketing campaign for a particular segment of customers, micromarketing is very helpful as it entices customers to take the big decision. In a nutshell, micromarketing can do wonders for businesses.

 
 

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SWOT Analysis of Target
BusinessManagementMarketingSWOT & PESTLE 

Target SWOT Analysis | SWOT Analysis of Target

by Shamsul January 4, 2021

 

Target SWOT Analysis | SWOT Analysis of Target

 

Target (history & facts)  by George Dayton in 1902. The Target Corporation is reputed merchandise that is very popular due to its discounted offerings, loyalty offerings, and luxury everyday essential items. The success of this company is due to its effective supply chain network, innovative strategies, and advanced technologies. These ingredients of success result in the exponential growth of Target. Their online presence and customer-centric approaches are also contributed to its success. If you want to learn about this company’s success then you have to read Target SWOT analysis. Let’s discuss the strengths, weaknesses, opportunities, and threats of Target Corporation.

 

Company Name:  Target Corporation

Founder:  George Dayton (corporation), John Geisse (store)

Year founded:  June 24, 1902; (corporation), January 5, 1962; (store)

Headquarter:   Minneapolis, Minnesota, United States

CEO:   Brian C. Cornell

Industry:  Retail

Type: Public

Area Served: USA

Number of locations (2020): 1880 stores

Employees (2019): 359,900

Annual Revenue (2019): US$ 75.36 billion

Profit | Net income (FY2019): US$2.937 billion

Products: Health and beauty products; clothing and its accessories; bedding; electronics; shoes; food; jewelry; lawn and garden; furniture; pet supplies; toys/games small appliances.

Brands: Target, SuperTarget, Target Greatland, TargetExpress, CityTarget,

 

 

SWOT Analysis of Target | Target SWOT Analysis

Strengths of Target (Internal Strategic Factors):

 

  • Huge Variety of Products:

Target is a one-stop-shop because it offers a huge range of products such as apparel, accessories, home décor, pharmacy, grocery, and so on. You can buy these products from their online channels. This kind of wide variety of products makes it a highly powerful brand.

  • Strong Brand Status:

The best thing about Target is that they offer the latest, fashionable, and high-quality products at reasonable prices. These things attract the customer and that’s why they have a strong brand position and customer base. Mostly lower and middle-class people love to shop from Target due to its discounted rates.

  • Best Shopping Experience:

The stores of Target are highly versatile and you will feel relax while shopping. They have a better and well-clean floor as compare to Walmart. This type of environment really attracts customers.

  • Branded Apparels:

Target provides a better shopping experience for customers with designer and branded clothes. Their clothes and other apparel items are highly durable and outstanding. They offer these designer clothes at a discounted price.

  • Joint Venture with Starbucks:

The partnership between Starbucks and Target proved beneficial for both companies. Both companies earn more profits due to this partnership.

  • Philanthropy:

Target spends 5 percent of its profit on charity such as kids’ education, food drives, and many more. This kind of philanthropy makes it a patriot brand in the eyes of customers.

  • Successful Distribution System:

Target currently has 40 distribution stores. They also collaborate with local delivery services. So, we can say that they have a successful distribution system.

  • Strong Presence in the US Market:

In the US, they have a robust presence. With 1855 stores in America, they are leading the chart that’s why they have a strong presence in the US.

  • Useful Inventory Management:

They have useful inventory management that works to reduce the danger of spoilage, decline sales, and many other risks. They also work to build the growth of the company. It is a major strength of Target.

  • Online Services:

Recently, they launched a remarkable app ‘’Cartwheel’’ for online shoppers. With this app, customers can check the new products, place their orders, and also check the prices of products. It is a useful addition to the company’s growth and strengthens its market presence.

 

Target SWOT Analysis | SWOT Analysis of Target

Weaknesses of Target (Internal Strategic Factors):

 

  • Costly:

According to Business Insider, Target charges more than 15 percent for groceries. It is a huge amount because Walmart offers the same products at discounted prices. This thing can cause a huge loss in its profits and also disturbs its fan-following.

  • Weak Data Security:

Nearly 70 million consumer’s data was stolen including their debit and credit card information in 2014. This thing eroded the trust of customers and Target faces many lawsuits and a decline in its profits.

  • Limited Global Presence:

Target has no strong global presence and they are limited only to the US. They opened 133 stores in Canada but due to lack of strategies and inexperience, they had to shut down their operation in Canada. This weakness is the biggest failure of the company.

 

SWOT Analysis of Target | Target SWOT Analysis

Opportunities for Target (External Strategic Factors):

 

  • Partnership with CVS:

CVS Health had attained the company’s pharmacy and clinic section for 1.9 billion dollars in 2015. Now, this section is totally managed by CVS. Now, customers can easily access different health-related products from the stores of Target. Target should make this type of partnership in order to increase its position and revenue.

  • Small-format Outlets:

They are running their small-format stores successfully in colleges and universities. However, these stores are very small in terms of their size but very profitable for the company. In fact, It’s a big opportunity for Target to open this kind of small-format stores in different college campuses and high schools.

  • REDcard Program:

They recently launched the REDcard program which is basically a reward program for customers. Target should expand this program in order to attract customers so that they can make purchases to win rewards. This kind of thing can be beneficial for the company.

  • Delivery Service:

They also started a grocery delivery service to offer same-day delivery. The process is similar to Amazon and Walmart’s delivery service. In this way, they can expand their reach and increase market share.

  • Diversify Brands:

It is really important for Target to diversify its brand portfolio by acquiring a private label brand. In this way, they can earn more profits and carry the biggest margin. This opportunity can diversify its reach and market presence.

 

Target SWOT Analysis | SWOT Analysis of Target

Threats of Target (External Strategic Factors):

 

  • Fierce Domestic Competition:

There are several big companies like Walmart, Home Depot, and many more are giving tough time to Target. They offer the same variety and products at much better rates. They can be the biggest threat to the company’s profitability and also impact its market share.

  • Changing Needs of Customers:

Due to having a wide range of products, it is really difficult to understand the changing needs of customers. As many people love to make purchases from online channels but some people love to shop things by going to the store, so it can be difficult to know the customer preference.

  • Failure to Distinguish:

It is really hard to differentiate between products from different sources. Many counterfeits offer the same product at a lower price that can badly impact the image and growth of Target.

  • Economic Recession:

If the American economy faces any turbulence it also impacts the company’s profit because they heavily depend on the US market. This major threat is not good for Target Corporation.

  • Weak Barrier to Entry:

To be very honest, it is really easy to enter this business. Target should aware of counterfeits and fake companies that offer almost the same but replica products.

 

Target SWOT Analysis | SWOT Analysis of Target

Conclusion:

No doubt, Target is one of the most successful retailers in the US. They have a strong customer base due to their affordable and best quality offerings. It is really important for Target to expand its global presence and address its problems so that it can diversify its market share. They have potential because they are doing well in the US.

 

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Marketing Strategy of Highly Effective People
BusinessManagementMarketing

Marketing Strategy of Highly Effective People

by Shamsul October 7, 2019

7 Habits of Highly Effective People

Marketing strategy is the basic fundamental for any business success. Marketing is a diversified domain that can seize opportunities created at regular intervals. For a company, evolution is as important as anything else. Marketing is a continuous process that helps the business deliver. Target-oriented enterprises always focus on marketing strategies. The performance, productivity, and profit can be elevated with the help of a strategy.  For a business, change is always good. But consider the business model, these changes are expensive to get. For long term growth and profit, change is inevitable. From any business prospect, failing to change will result in loss and disaster.

In most cases, enterprises may not be willing to invest in change. But these changes are mandatory for the sustainability of any business. Changes can reflect on various aspects. The same is the case with a marketing strategy. First of all, the marketing strategy must portray a true picture of an enterprise. Secondly, a marketing strategy must indicate loyalty towards the customers.

7 Habits of Highly Effective People:

For effective marketing, you must define the business framework. This framework can highlight the value of developing and executing strategy.  Stephen R.Covey, the author of the best seller discussed the values of change in his book called ‘7 habits of highly effective people’. In this book, the writer emphasized the narrative of building habits with which desired results can be achieved.

Rather than anything else, the prime focus of an enterprise should be on the requirements of the customers. Always prefer to go with a flexible approach. Customer’s expectation has its own weightage in marketing strategy. That is the reason why it is said: “say what they want to hear”.

Marketing strategy always begins with determination. There are many factors that can influence any marketing strategy. The three most important factors are:

  1. Knowledge
  2. Skill
  3. Desire

 

According to Steve R.Covey, a sales funnel can be categorized into three major stages.

 

1- Dependence Stage:

This stage is said to be the initial one at which customers are dependent upon others. During the dependence stage, prospective customers tend to look at other resources. Marketing strategies can be applied in order to understand the customer’s needs. Marketing tools can help understand the requirements. Later on, marketers can share the details about the information that needs to be noted.

Independent Stage:

The independent stage is a critical stage. At this stage, customers can have direct access to the content available online. With the internet, customers can fetch all the details including a comparison of the data. From the marketer’s point of view, the content uploaded over the internet must have all the answers to the questions raised by the customers.

Interdependence Stage:

As the name suggests, this is the stage at which both customers and the marketers are interdependent upon each other. Companies can identify the problems of the customers and provide solutions accordingly. Maintain the loyalty of the customers towards the company at this stage as well.

According to the world’s best author Stephen covey, marketing strategy is a domain that can collectively be summarized as the habits of a marketing expert. In order to increase the market share and brand name, these habits have an influential role to play.  Other than that, the three foremost factors that can expedite the whole process of marketing in an effective way are desire, knowledge, and skills.

Before discussing 7 habits of highly effective people, we will break down these practices in three different stages mentioned earlier.

7 Habits of Highly Effective People

Dependence and Independence Stage

 

Habit 1: Be Proactive

Internal marketing can be quite fruitful in terms of results. But before proceeding to the next steps, it is important to consider a few things. Let us have a brief overview of the prerequisites required for the first stage.

Develop a Customer’s Profile

For incoming traffic onto a platform, it is equally necessary to have appropriate content. The content should not only be attractive but at the same time, it should have all the required details as well. Failing to provide the required content will have a negative impact on the marketing strategy. Developing customers profile help a lot in shaping up the content. Once you have a complete customer’s profile, it will help gain momentum.

Team up Leaders

Teaming up the leaders is one of the important aspects of a marketing strategy. It may be one of the biggest challenges that the CEO may have to face. But it is equally important to achieve the milestone in inbound marketing. Investments are to be made in innovative technologies, content, and resources.

Compatibility Between Sales and Marketing Domains

Marketing and sales teams should be on the same page. For result-oriented inbound marketing, both the teams should have compatibility and communication. The best possible way to achieve success is to make sure that there is a service level agreement.

 

Habit 2: Begin with the End in Mind

Target-oriented marketing is always successful in terms of milestones. Marketing strategies are to be defined considering the current market position. In most of the cases, marketing strategies are hard to define. A marketing strategy should be in line with business goals. The ultimate target should be the implementation of a marketing strategy for the achievement of end results.

For a marketing strategy to be successful, it is vital to consider the company objectives. Marketing goals should be specific, measurable, aspirational, realistic, and time-bound. All these factors can help the company attain the performance benchmarks. Use these benchmarks to measure the goals described in a marketing strategic plan.

The marketing strategy should be in the right direction. Once your objectives are established, marketers can focus on content, offers, and discounts. Other than that, the identified problems should try to resolve consistently so as to keep the company on the right track.

 

Habit 3: Put First Things First

The content should have all the major points in it. There must be comprehensive details available in each section of the content. Addressing each point separately will help gather the attention of prospective customers. According to the sales funnel, the content should also have a guided approach.

Converting random traffic into permanent visitors is a marketing strategy success. The objectives like customer satisfaction, campaign ROI and the lead routing process should be on to the top priority. For lead management, there are various tools available. The lead systems sales can help the company get short terms results with revenues.

Market Strategy

Interdependence Stage:

Habit 4: Think Win/Win

A positive approach can have a deeper impact on any business. According to the marketing strategy model, enterprises must present the content that is informative. Prospective customers must get all the details collectively from the content available. Moreover, the customer’s feedback is also imperative in marketing strategies. You can engage customers by uploading forms on online platforms. The provided data will help to identify the customer’s preferences. The data can also be strategically used to update the content.

The quality of inbound marketing is that it is equally beneficial for the customers and the company. Enterprises must have to invest in brand share and success.

 

Habit 5: Seek First To Understand, Then To Be Understood

For an enterprise, the content can act as a communication channel between a client and the customers. Marketing strategy suggests that you need to update the contents in an attractive manner. Customers must find content fruitful in every sense. Detailed content can lead to a higher conversion rate.

Uploading the content is not enough. As an enterprise, it is integral to get customers’ responses. To get a detailed view of the customers, the number of visitors and the keywords may not be enough. You can easily observe the customer’s perceptions through social media. The online social media is now a platform that is accessible to everyone. Customer regularly uses these forums for discussions. The discussions can be notified considering the services and the offers given by the enterprise.

An online survey is a marketing tool that is extensively in use. Enterprises can float various surveys on multiple online links. These surveys can help the enterprise understand the potential thinking and approach of the clients.

 

Habit 6: Synergize

Communication is the key to success. Synergy is a modern concept that allows the organization to grow at a faster pace. The whole approach of synergy revolves around resource-based thinking. Work together for the same target makes it easier to achieve. For enterprises, synergy is the habit that can lead to collaboration and co-creation. Sales and marketing domains can gain high ROI, productivity and growth with synergy. You can increase the revenue to an optimum level with the synergizing approach.

 

Habit 7: Sharpen the Saw

For a business enterprise, the most noteworthy consideration is a product and its resources. In marketing strategy, sharpen the saw refers to the investment that should be made in products and the resources. For a company, the product is the physical representation and the resource is the backbone that brings ideas into reality.

Every single strategy designed by the organization should have a supportive and contribution role. Every enterprise must have a defined mission statement. All the procedures and approaches should revolve around the mission statement. Certainly, the benefit of keeping the mission statement in mind is that it motivates everyone to be on the right path.

The marketing strategy should always be dependent on marketing trends. Enterprises must have to follow the news circulating in the market. This approach will help the company develop expertise on a regular basis.

Stronger bonding between the employees, customers and the marketer is of core importance. Developing a meaningful relationship is always helpful for organizational growth and development.

 

 

In Summary

The wiselancer platform is the largest platform that can help large and smaller enterprises in developing marketing strategies. Thus, for a high success rate, flawless marketing, and its implementation are inevitable. By keeping above mentioned 7 habits, any enterprise and form a solid growth foundation with the latest promotional tools. For any kind of professional help, we always welcome clients looking for diversified marketing experiences.

 

October 7, 2019 6 comments
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