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How Positive Online Reviews Can Build Trust For Your Business.

Building Consumer Trust Is Important In Business!

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No matter how good you think your brand, products, and services are, it is what the customers think that is the most important thing. These days a lot of people will make a purchase based solely on the number of positive reviews that a company or product has.

Online reviews provide social proof. Persuasive copywriting will certainly help to make create sales or encourage people to opt into your email list but social proof usually makes the real difference. In this article, we will explain how positive online reviews can build trust for your business and how you can get more of them.



Online Reviews Sell

If you are comparing two similar products on an ecommerce website and one product has no reviews and the other has hundreds of positive reviews which product are you more likely to purchase? Of course, you will go for the product that has the reviews. Your customers think like this too, after all, your customers are thinking about themselves, they are not thinking about your well-being, and we understand this.

  • Social proof – online reviews provide the proof that potential customers are looking for that what you are offering is a good investment
  • They are not the first – very few people want to be the first to purchase a product. Online reviews make them feel comfortable as others have bought before them
  • More reviews equal more sales – the more positive reviews that you have the more likely you are to make a lot of sales

You will get more attention with Positive Online Reviews

It is in your interest to increase the visibility of your brand wherever you can. If your website has a lot of positive reviews then it is far more likely to rank higher in search engines such as Bing and Google.



Online Reviews build Trust

If potential customers are seeing a continuous stream of online reviews on your website then there is a much greater probability that they will trust your brand and what you offer. Of course, if all of your reviews are poor then this will have the opposite effect. People are skeptical of businesses that have all 5-star reviews as well.

A search engine will treat every online review as new content. The algorithms for search engines look for this, and if you have a website where there are always new reviews added then higher rankings should follow. Visitors will view your website as more as an authority when you rank high in the search engines.

In 2017 there was a survey conducted by Bright Local asking people what the minimum online rating was for them to consider doing business with a company. The results were very interesting:

  • 1 out of 5-star rating – in 2017 only 4% of those surveyed said they would do business. In 2015 this was 13%
  • 2 out of 5-star rating – in 2017 8% said they would do business which is a drop from 14% in 2015
  • 3 out of 5-star rating – in 2017 39% felt comfortable doing business which is a drop from 45% in 2015
  • 4 out of 5-star rating – this was again 39% in 2017 and was an increase over the 2015 figure of 20%
  • 5 out of 5-star rating – this was 9% in 2017 and was at 8% for the two previous years

What does this tell you? Well in general people do not expect a business to be perfect. The sweet spot from this survey is between 3 and 4 stars. So getting the odd bad review is not going to destroy your overall credibility.



You get Essential Feedback from Online Reviews

No business, product or service is perfect. Your customers should be encouraged to provide you with totally honest feedback both good and bad. When you have reviews like this then people will trust your brand more. Honest reviews help you to:

  • Identify what you are really doing well
  • Identify what you are not doing so well
  • Highlight problems with products and services which you can fix
  • Show that you are a trustworthy business that responds to the views of your customers

How to get more Online Reviews for your Business

The best way to get more online reviews for your business is to ask for them. Some people will leave a review as a matter of course but most people require a little gentle persuasion. When you are asking for reviews you need to consider the following:

Meditation & Mindfulness: 6 Minutes To Calm

Asking at the Right time

Timing is very important when you are asking your customers for a review. If you leave it too late then the likelihood of you receiving a review will go way down. People that purchased something from you weeks ago, or even days ago, will be the least responsive.

You need to hit your customers with a review request when their excitement of what you have provided is at its peak. So ask for a review:

  • Immediately after the customer has purchased your product or service
  • As soon as the customer has used your product or service
  • Straight after the customer has benefited from using your product or service

The last one of these timings can be difficult to gauge. Some people will use products and services immediately while others will take a day or two. You need to test this to see what works best. Take a look at how your competitors handle this too.



Ask for a Review in the correct way

You need to use the right approach when asking a customer for a review. If you get this wrong then you will reduce your chances significantly. A good approach is to just ask the customer outright to provide a review if they liked what you provided. Make your request personal and don’t use templates.

There are a number of ways that you can contact customers to request a review:

  • Send an email
  • Call them on the phone
  • Send a text message
  • Use a push notification
  • Ask them in person (if you operate a restaurant for example)

If you have a lot of customers then look at ways that you can automate the process of asking for reviews. There are tools available to help you with this.

Give your Customers a choice

Although it is good to have reviews on your website it is likely that you will benefit from having positive reviews on a number of other websites too. You can set up a specific page for reviews where your customer can choose where to leave them. Here are some suggestions for external website reviews:

  • Google My Business
  • Facebook Reviews
  • Yelp and other business directories
  • Amazon

If you are in the travel or hotel business then you can ask customers to write you a review on Trip Advisor for example. Restaurant owners can ask for Zomato reviews. Find out which review websites are the most relevant for your business.

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My name is John, I am the owner of Digital Global JV™. You will find many opinions on Digital Global JV™ Blog, however, Digital Global JV™ may not share or endorse those opinions from other bloggers, however, We respect all blogger opinions.

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Top 5 Google Apps That Every Blogger Should Use In 2020

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Top 5 Google Apps That Every Blogger Should Use In 2020
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If you are a busy blogger then you need all of the help you can get. Google has some great apps that you can use to improve your efficiency by achieving more in less time. Using Google apps can really give you an edge with your blogging, so here we will take a look at the top 5 Google apps that every blogger should use in 2020.

Some Google apps have been around for many years and really stood the test of time. Google has now put these apps together in a package they call G Suite. Google is aiming G Suite at business users and provides them with some excellent tools for a small monthly fee. As a blogger, you can still use these apps for free.

With G Suite you get the following benefits over the free apps:

  • 30 GB of storage space with Google Drive rather than 15 GB
  • Tech support 24/7
  • A business email account that has a guaranteed uptime of 99.9%

In our opinion, the free versions of the apps will meet the needs of most bloggers. You can decide if you want to upgrade.



1. Google Docs

A lot of bloggers use a word processor app such as Microsoft Word to compose their blog posts prior to publishing them. This is a good practice as it is easier to edit posts. There is no need for you to purchase Microsoft Word as a word processor. You can use Google Docs for free to increase your productivity.

If you are used to using Microsoft Word then the transition to Google Docs will be painless. It has a similar interface and a lot of similar features. One advantage that Google Docs has over installed word processors is collaboration.

These days more and more bloggers are collaborating over posts. It is really easy to create a Google doc and share it immediately with another blogger anywhere in the world. This is a lot better than using email and attaching documents.

A lot of bloggers give away free resources from their blog. If you want to give something away like a worksheet, checklist or any other kind of document then you need to consider your audience. They will not all have access to Microsoft Word. A free Google Sheet is the ideal answer here.

You can use Google Docs for planning other content too, such as material for an online course or emails you plan to send to your subscribers. It is really easy to use Google Docs for brain dumps and general planning. So the advantages of using Google Docs as a blogger are:

  • It’s free unlike Microsoft Word
  • You can use it for composing your blog posts
  • It is easy to collaborate with other bloggers
  • You can use it to provide free resources
  • It is great for brain dumps and general planning

 2. Google Sheets

If you want to be a successful blogger then it is essential that you organize everything well. A spreadsheet can be very useful here as it provides you with a lot of flexibility. Most people are familiar with Microsoft Excel and it is certainly a very good spreadsheet application, but you can organize everything and more with free Google Sheets.

There are several advantages to using Google Sheets over Microsoft Excel:

  • Google Sheets are free
  • You can organize your social posts such as Tweets in a Google Sheet and then integrate with Google Calendar (more on this below) so that they go out on time
  • Bloggers tend to perform a lot of research and you can store results in a Google Sheet. You can automate research from Twitter straight into a Google Sheet
  • You need to know how your social campaigns are doing so keep a record of those key metrics in a Google Sheet
  • It is easy to create graphs of your social numbers in Google Sheets

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3. Google Calendar

A successful blogger will always plan ahead. They will create a blog posting schedule and have an editorial calendar. You do not want to leave any important tasks to chance so using Google Calendar is a great way to plan and stay organized.

When you use Google Calendar you can do much more than just schedule tasks. You can add more information to the task, and even attach important documents so that you have everything at your fingertips.

Here are some of the great ways you can use Google Calendar:

  • Create your blogging schedule so you know what you need to do and by when
  • Schedule appointments – never forget that important interview or collaboration discussion with another blogger
  • Add an attachment to the calendar event
  • Get notifications on your device 10 minutes before an event is due
  • Integrate Google Calendar with a number of other third-party applications

4. Cloud storage using Google Drive

As a blogger, you will have important documents, images, and other media that you need to store safely. Yes, you can store them on your hard drive or a removable media device, but these can go wrong and you can end up losing vital information.

Cloud storage is the perfect answer here. You can store your vital files with confidence and easily retrieve them when you need them. With the free version of Google Drive, you get 15 GB of space which will probably be enough for most bloggers. If you need more space then it is easy to upgrade.

Google Drive integrates seamlessly with other Google apps including:

  • Google Docs
  • Google Sheets
  • Google Slides
  • Google Forms
  • Google Photos
  • Gmail – you can save attachments to Google Drive


5. Google Forms

As a blogger, you want to keep in touch with your audience and understand what problems they have and what they are looking for. One of the best ways that you can do this is to ask them to participate in a short survey.

Creating a survey with Google Forms is very easy and convenient. It is all drag and drop. You can use the drop-down menu to create different types of questions such as choosing from a list, multiple choice or short and long answers.

With Google Forms, you can monitor responses in real time. If you prefer to use a Google Sheet for the analysis then it is easy to integrate the raw data from your surveys. Each Google Form has a unique URL and you can easily send this to your audience for their participation.

So the main benefits of using Google Forms are:

  • Very easy to create an online survey or quiz
  • Real-time analysis of responses
  • Integration with Google Sheets
  • No messing around integrating forms into your blog

Conclusion

Use these five Google Apps to become a more efficient blogger. They are all easy to use and will help you to stay organized and save a lot of time and money. All of the apps are very high quality as you would expect from Google.

You can learn more about G Suite here. We recommend that you start off with the free version of the apps and then you can decide whether you need the features of the G Suite subscription.

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Difference Between Startup Costs and COGS.

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Difference Between Startup Costs and COGS.
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Business today is cutthroat; half of all businesses fail in their first five years

If you are a business owner, you need every advantage you can get. That includes taking all possible tax deductions to reduce your taxable income. 

To get a better understanding of your taxes and what exactly you can deduct, you need to understand the difference between two items: costs and expenses.

In everyday conversation, many may toss around these two terms as though they are interchangeable. For tax purposes, they are not

Read further to find out why. 

The Fundamental Difference Between Costs and Expenses

  • Business expenses—money you spend to help your business run—are usually tax-deductible. They reduce your adjusted gross income (AGI) and thus your tax liability, which is the total amount of tax debt owed to the IRS. Rent and payments to employees and contractors are among the many things that can be deducted as expenses on a business’s tax bill. 
  • There are various types of costs. For example, this may include the costs of goods sold, costs of assets, costs of improvements and costs of starting a business. In some cases, costs are used to determine depreciation and amortization expenses, and in others, they may be deductible in the current year as business expenses.

Expenses

A business expense must be “both ordinary and necessary” in order to be deductible. 

“Ordinary” means it is an expense commonly acceptable in your type of business. 

“Necessary” means it is appropriate or helpful to the business, but it doesn’t have to be indispensable. 

Keep in mind business expenses that may be directly deducted are not the same as expenses used to figure the cost of goods sold or capital expenses (money used to purchase business-related equipment). 

Costs

While some costs may be expended on your business tax return, others must be capitalized.

You cannot expense a capitalized cost immediately—you must do so over time through depreciation or amortization.

To sum up the difference between costs and expenses, business expenses may always be deducted in the current year. 

Some costs may be deducted in the current year, but others must be capitalized. Let’s take a look at what costs must be capitalized and what may be deducted in full.


Costs of Goods Sold

Costs of Goods Sold

“Cost of goods sold” (COGS) refers to all the costs that go into producing a product. This may include the cost of:

  • Labor to create the product
  • Raw materials
  • Parts to make the product
  • Inventory bought for resale
  • Storage
  • Freight
  • Shipping
  • Factory overhead

The cost of goods sold may be deducted from your gross receipts (the total amount of money received) to figure your gross profit for the year. 

If you include something under the cost of goods sold, you cannot deduct it again as a business expense. 

Unless you have a small business, you must capitalize the direct costs and some of the indirect costs for certain production and resale activities. 

Small business taxpayers get special dispensation. According to the IRS, a small business taxpayer “(a) has average annual gross receipts of $25 million or less for the 3 prior tax years and (b) is not a tax shelter.” For more information, see Publication 334, Tax Guide for Small Businesses


Business Assets and Improvements Costs

Business Assets and Improvements Costs

“Cost of an asset” refers to the actual cost of buying an asset, say a new printer or new manufacturing equipment. 

Cost of an asset includes the amount it cost to purchase it, ship it, set it up, and train people on how it works. 

This is its “cost basis,” which is used to set up a depreciation schedule for tax purposes. 

Under the new tax law that went into effect on January 2018, businesses may elect to expense the cost of an asset that qualifies under Section 179 and deduct it in the year it is placed in service. The maximum deduction for 2018 is $1 million. 

Property that may be deducted includes:

  • equipment
  • machines
  • computers, computer software
  • personal property of a type used in business 
  • security systems

For property that does not qualify under Section 179, you cannot deduct business asset costs— you must capitalize them. They are part of your business investment and are recorded on a business’s balance sheet. 

As they depreciate, the depreciation is subtracted to determine an asset’s book value. 



Costs of Starting a Business

If you are starting a business, you will have a particular need to understand the difference between costs and expenses. Business start-up costs, as part of the investment in your business, generally must be capitalized and amortized over several years rather than deducted immediately as expenses. 

However, some start-up costs may be deducted in your first year of business.

You may deduct up to $5,000 in start-up costs in your first year in business if your start-up costs don’t exceed $50,000. Additional start-up costs may be amortized over 15 years. 

If it doesn’t make a profit in your first year, you may not want to take this $5,000 deduction. Speak with your tax expert about how to reduce your taxes in future years when you are more profitable by not taking the $5,000 in your first year. For example, you may want to amortize all start-up costs over 15 years.

Keep in mind that “organizational costs” are not the same as “start-up costs.” You can take another $5,000 deduction for your small business taxes for organizational costs such as those involved in forming a corporation.


Structure Your Business to Maximize Your Tax Benefits

Structure Your Business to Maximize Your Tax Benefits

Talk with your tax expert about how your business can reduce taxable income and take advantage of every tax benefit. Here are a few ideas:

  • Temper offering higher salaries to your employees by offering more benefits. Higher salaries mean higher employment costs for your business. Instead, offer tax-exempt benefits such as educational help, transportation, and meals.
  • Consider putting an accountable plan into place for reimbursing employee expenses such as travel and meals. Accountable plans are those that meet IRS requirements, where the business deducts the expenses but does not report the reimbursements as income to employees. Under the new tax law, employees cannot deduct unreimbursed business expenses, so they will be expecting you to somehow reimburse them if you do not already.
  • Talk with your tax expert about what is right for your circumstances. For example, it makes no sense to take a deduction if your business made no money for the year in question. You may want to amortize or choose another option that will give you a tax advantage.

Taxes are complicated, and many businesses are still not up to speed on the tax law changes that went into effect in 2018. 

Knowing the difference between costs and expenses is just a start

If you have not recently sat down with an experienced tax expert to discuss your business, now is the time to make an appointment.

Nathan Wade is a licensed attorney for the State of Hawaii and the U.S. District Court of Hawaii. He holds a law degree with a focus in business and has extensive experience in entrepreneurship and international business. He is also a Managing Editor for WealthFit, a financial education blog dedicated to curating advice on investing, entrepreneurship and money.

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How E-Commerce Can Impact Your Business

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How E-Commerce Can Impact Your Business
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eCommerce can affect your business plan

What do you usually think about when someone mentions the word e-commerce? In my case, the image that springs to mind is a consumer buying a product or service online. To a certain extent, e-commerce is about online shopping (link to https://www.digitalglobal.com/how-online-shopping-will-be-trending-in-2020/), but its implications also go far beyond that.

Today, we’ll be taking a look at the ways e-commerce has reshaped business models all across the globe.

E-Commerce in Today’s Competitive Modern World

Today, our long-accepted economic practices are constantly being challenged by e-commerce and a never-ending parade of virtual companies, resulting in an extremely competitive business environment you’ve never seen before. While there are countless opportunities and newer markets for you to tap into because of globalization and the Internet, lying in wait will still be a hoard of fierce competitors looking to take your place in the market.

In an era where digital has taken reign over most industries, those who refuse to jump on the e-commerce train usually end up getting run over or left behind. Of course, this doesn’t mean you should immediately work with the first web design company you come across. You require a perfectly thought-out strategy that allows you to snatch that lead away from your competitors. Your plan should help you accomplish these three important goals: boost revenue, expand your company, and take your business to new heights.



E-Commerce: Disrupting the Very Core of Conventional Businesses

It looks like e-commerce isn’t going anywhere. It’s a threat that cannot be contained—an epidemic affecting all businesses, from little start-ups to majestic enterprises. Your company may have been an industry leader in the last five years but that doesn’t mean this will be the case in the next five. That’s the level of threat posed by e-commerce for traditional businesses who refuse to embrace the ever-shifting commercial landscape.

Adopting the new and improved ways of e-commerce into your business entails more than just updating IT infrastructure. You have to remodel the very core of your business—from management plans to employee function, every aspect should follow an e-commerce-first approach.

Which business do you think will win out in the end: conventional organizations or modern-age e-commerce companies? Who, in the end, will be able to retain their market shares and successfully expand to new markets?

We need to keep in mind that old principles for running businesses are no longer relevant in today’s world. Running a business based on obsolete practices is a complete waste of time and money, and it’s not going to get you anywhere in this incredibly competitive industry.

Here are the remarkable ways in which e-commerce-based businesses have routed traditional ones.

Forget vertical integration.

  • Once considered one of the best practices for running a business for many years, vertical integration has now become irrelevant in today’s ever-changing commercial landscape. Businesses in the past used to think that the best way to get something done was to do it themselves. Growing companies then started making every aspect of their operations an in-house job, from retail, research and development, and, in some cases, even legal matters. It was this kind of mentality that resulted in huge overhead costs, inflexibility, and inefficiency for many businesses. The advent of e-commerce has allowed today’s businesses to outsource tasks that are not part of their core practice, effectively reducing overhead costs, eliminating unnecessary expenses, minimizing capital expenditure, and helping businesses focus on their core service or product.

Limitless outreach.

  • A little more than a decade ago, businesses would have found it nearly impossible to tap into other consumer markets. Today, doing that would be all in a day’s work for any digital marketing professional. Now you can reach out to consumers in the farthest ends of the world if you so desire. E-commerce has made it possible for you to connect with every single one of your target customers. You’re no longer limited to selling products and services to the local market. This recent development has also leveled the playing field for small businesses, allowing them to target their share of large audiences spanning the globe.

More affordable initial business set-up.

  • Back then, setting up a business would require you to have huge capital. This no longer is the case because of e-commerce. Today, anyone who has the desire to start their own business would be able to do so with only minimal investments. Since you’re able to sell online, there’s no need to carry a sizeable inventory. You can simply add to your inventory depending on customer demand. More importantly, e-commerce has become responsible for the great decrease in the overhead costs of managing a business.

More meaningful collaborations.

  • If we were to go by the conventional ways of running a business, a small business owner specializing in a certain niche, like yourself, would only have access limited to specific markets. Even if you wanted to, it would be impossible to aim for higher profits because the bigger markets simply weren’t open to you. These days, small businesses are given the opportunity to sign up on market platforms, paying only a tiny fee so that they can sell their products. Through these platforms, their market reach significantly broadens, resulting in a win-win situation for both parties and fulfilling collaboration.
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So long, middlemen!

  • E-commerce has made it possible for businesses to sell directly to their customers without needing any middlemen. Small businesses owners usually had to rely on brokers or vendors to distribute their products to locations beyond their vicinity. Today, you simply have to work with a company that can design the ideal online shop for your business. Your online store is what connects you directly to your target audiences, putting an end to middlemen involvement.

There’s no need to close your business.

  • These days, if your business isn’t open 24 hours a day, 7 days a week, you won’t be able to compete well enough. It’s a good thing that this, again, has been made possible with the emergence of e-commerce. There will be no state of dormancy for your business whatsoever, and sales will be happening at any time. Old-school business owners were wired to close shop by the day’s end. This limited their customers to make a purchase only within a specific time. This isn’t how today’s shoppers want to go about their shopping. To make it as a business in this modern world, you have to take full advantage of the way e-commerce offers your customers the convenience of shopping from your store at any time they wish, even if it happens to be in the wee hours of the morning.

You don’t have to own a big company.

  • These days, it barely makes a difference if you run a large company with a ton of employees or a small online shop managed by you and your friend-slash-business partner. As I mentioned prior, the commercial landscape has now become a more level playing field because of e-commerce. Small, traditional businesses used to suffer a lot from being understaffed. These stores couldn’t even begin to compete with their more massive counterparts. Now, it seems that the roles have switched and the larger, clunkier corporations have become more difficult to manage compared to their smaller equivalents in the digital world.

Business advertising is taken to a whole new level.

  • There’s been a sweeping change in the way modern consumers make their purchases. It’s only right that these changes resulted in the variation of advertising tactics as well. Even consumers who are fond of shopping the traditional way don’t limit themselves to products sold in brick-and-mortar stores; they look up items on the Internet, read online reviews, and compare prices between digital and physical stores before making the decision to buy. Considering that your target audiences are going to approach buying from both conventional and modern angles, you as a business owner would need to adapt and evolve. Even if it goes against your very principle to divert from something that has brought your store success, sometimes it is necessary. Remember that the things that bring you success today may no longer be the same things responsible for your success tomorrow.

Business advertising is taken to a whole new level.

Digital marketing allows you to constantly meet the demands of the tech-savvy audiences of today. You gain a huge advantage from being able to utilize the following tactics: paid ads, email marketing, social media management, and search engine optimization (link to https://www.digitalglobal.com/5-reasons-why-content-marketing-will-improve-seo/) to push your business to a level you have never seen or experienced before.

E-commerce has made a huge impact on the way modern businesses operate. No matter what kind of business you’re running, you can’t escape its sweeping grasp. When most of today’s consumers go shopping, the first thing they do is fire up an online search. They have information at the tip of their fingertips, making them well-informed and savvy buyers.

As a business operating in today’s dynamic landscape, you need to do your part in adapting and evolving. Stability can be your greatest downfall in the race to outpace your competitors. Why? Because it’s highly likely that most of them will be open to change. Change is the very nature of the commercial environment and you, as the head of your company, need to find ways to keep evolving, introducing new facilities, and making use of current technologies to woo customers who are getting more and more informed by the day.

It’s going to be a wild ride ahead, but are you ready to take that e-commerce leap to skyrocket your business’ growth? You’re more than welcome to share your thoughts and insights in the comments section.

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