Learn what to do if you forgot your Facebook password and how to use TeamPassword to make sure you never forget a password again.

Learn what to do if you forgot your Facebook password and how to use TeamPassword to make sure ...

What To Do If You Forgot Your Old Facebook Login

What To Do If You Forgot Your Old Facebook Login | TeamPassword

Like any company, marketing agencies require project management to ensure teams execute tasks and objectives to meet deadlines. Marketing project management requires a solid grasp of marketing tools, processes, planning, trends, and people/resource management.
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This article explores seven tips for marketing project management and how managers can ensure campaigns operate smoothly to reach their end goals.
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Marketing projects often require teams to share credentials for tools, software, and applications. Protect your project's assets with a <a href="https://app.teampassword.com/dashboard#signup/testimonial">secure password management solution</a> from TeamPassword. <a href="https://app.teampassword.com/dashboard#signup/testimonial">Sign up for a 14-day free trial</a> today.
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<h2>What is Marketing Project Management?</h2>
Marketing project management is the role of planning, delegating, and managing tasks and objectives for marketing campaigns. A marketing project manager will usually set and monitor KPIs to ensure teams meet goals and requirements for each project.
At an agency, marketing project managers act as the company representative when meeting with clients to relay goals and expectations with team members.
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<h3>Core Marketing Project Management Responsibilities</h3>
<ul>
<li style="font-weight: 400;" aria-level="1">Project scope: Outlining the tasks and KPIs to meet a project's objectives and end goal.</li>
<li style="font-weight: 400;" aria-level="1">Resources: Selecting the people, tools, equipment, and other elements required to complete the project.&nbsp;</li>
<li style="font-weight: 400;" aria-level="1">Timelines: Planning the project's timeline and delegating tasks to meet the project's final goal.</li>
<li style="font-weight: 400;" aria-level="1">Budgeting: Planning and monitoring the project's budget&mdash;including managing the team's hours.</li>
</ul>
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<h2>7 Tips for Marketing Project Management</h2>
<h3>1 - Use a Project Management Tool</h3>
Using a project management tool might seem like a no-brainer, but many companies still rely on spreadsheets to plan and execute tasks.&nbsp;
While spreadsheets are cheap and somewhat effective, a dedicated project management tool can significantly increase efficiency with features to automate mundane tasks and communication.
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Here are five popular project management tools for marketing agencies:
<ol>
<li style="font-weight: 400;" aria-level="1">Asana: One of the most popular project management tools for startups and agencies. It's a comprehensive project management tool with fantastic features to streamline campaigns and communication among teams. You also have tons of integrations relevant to marketing, including email software, Adobe Cloud, Zapier, and cloud storage, to name a few.</li>
<li style="font-weight: 400;" aria-level="1">Monday.com: Monday.com is a simple yet powerful project management tool with many of the same features and integrations as Asana. You also benefit from integrations like Typeform, Hootsuite, and Facebook Ads, which are beneficial to marketing projects.</li>
<li style="font-weight: 400;" aria-level="1">Basecamp: An affordable yet comprehensive project management tool for agencies, with an emphasis on remote teams. You can also automate check-in messages so team members can report back daily with progress or flag issues. You can also invite clients to projects so they can check-in without the usual back and forth emails.</li>
<li style="font-weight: 400;" aria-level="1">Notion: A unique yet simple UI that feels more like navigating through a website than a traditional project management tool. With Notion, you can even create Wikis which marketing agencies can use to outline the client's brand guidelines, project scope, roles &amp; responsibilities, and other project information. Notion is also the most affordable project management tool on this list!</li>
<li style="font-weight: 400;" aria-level="1">Scoro: A minimalist UI with powerful budgeting and billing tracking features to keep everything in one project management tool. You can also quickly generate reports to provide feedback to clients and agency management. Scoro has loads of integrations, including email software, Google Analytics, Hootsuite, Facebook ads, LinkedIn Lead Gen Forms, and more marketing-related tools.</li>
</ol>
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<h3>2 - Securing Tools With a Password Manager</h3>
Marketing project managers must also ensure that projects operate safely and teams follow safe <a href="https://teampassword.com/blog/password-best-practices-what-makes-a-password-strong">password management practices</a>. Marketers often have to share credentials for marketing tools, social media platforms, and creative tools.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
A <a href="https://app.teampassword.com/dashboard#signup/testimonial">password manager</a> makes <a href="https://teampassword.com/blog/how-to-safely-share-passwords-with-coworkers">sharing credentials</a> with internal teams, contractors, and clients easy, so project managers have complete control over digital assets and who has access.
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TeamPassword's features to making password sharing secure and efficient:
<ul>
<li style="font-weight: 400;" aria-level="1">Access anywhere and on any device using TeamPassword's browser extensions (Chrome, Firefox, Safari) or mobile app (iOS &amp; Android).&nbsp;</li>
<li style="font-weight: 400;" aria-level="1">Create groups to share access with team members. Separate teams, so you only share access to those who need it. Minimizing who has access can reduce security risks and the potential for unauthorized sharing and access.</li>
<li style="font-weight: 400;" aria-level="1">Create separate groups with access to the same credentials to external teams like clients and freelancers.</li>
<li style="font-weight: 400;" aria-level="1">Monitor TeamPassword actions using our activity tracker or create email notifications for instant alerts to sensitive data and accounts.</li>
<li style="font-weight: 400;" aria-level="1">Use TeamPassword's built-in password generator to create robust, unique credentials for every account.</li>
<li style="font-weight: 400;" aria-level="1">Set up <a href="https://teampassword.com/blog/password-manager-with-2fa">two-factor authentication</a> to prevent criminals from breaching your TeamPassword account, even if attackers steal your credentials!</li>
</ul>
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<h3>3 - Plan Marketing Projects With Team Members</h3>
Project managers must include team members during the planning phase of a new project or campaign. If your project involves multiple departments, it's good to get input from each one for realistic budgets and timelines.
If you're part of a big agency, you may also want to meet with other project managers to manage teams and resources effectively to avoid overlaps&mdash;which could cause unnecessary delays!
Getting planning input from team members helps give them ownership of the project and their role. Making coworkers feel valued in this way can increase productivity while setting a standard for effective communication early.
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<h3>4 - Don't Forget Standard Project Lifecycle Phases</h3>
Marketing project management is no different from any other project management. Managers should follow the five phases of project management to ensure a well-planned, executed, and successful campaign.
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<ol>
<li style="font-weight: 400;" aria-level="1">Initiation: Start by planning the project's goals, list team members and stakeholders, and identify budgets and constraints.</li>
<li style="font-weight: 400;" aria-level="1">Planning: The planning phase outlines the project's roadmap. The project manager must define the scope, create a project plan and timeline, set budgets, and define roles and responsibilities.</li>
<li style="font-weight: 400;" aria-level="1">Execution: Allocate and manage project resources, tasks, and budgets.&nbsp;</li>
<li style="font-weight: 400;" aria-level="1">Monitoring and controlling (runs simultaneously with execution): Project managers must communicate with team members to ensure everything goes to plan and make adjustments when issues arise. Monitoring KPIs is critical to ensure teams meet the plan's milestones and objectives.</li>
<li style="font-weight: 400;" aria-level="1">Closing &amp; reviewing: Project managers close the project and terminate any freelancer contracts. They must also create reports for clients and management to review. Teams might meet to discuss ways to improve future projects.</li>
</ol>
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Agencies should use these five phases of project management to create templates and standard operating procedures to ensure the company maintains a high level of consistency.
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<h3>5 - Define Clear Goals</h3>
Defining clear marketing goals during the initiation phase is crucial for planning and executing a project management strategy. You should always have one primary goal with multiple objectives and KPIs on the road to achieving that goal.
Goals should be detailed and explicit so that teams have a clear target. Avoid vague goals and objectives like "increase email subscribers" or "increase traffic"&mdash;increase to what? You can increase your subscribers or traffic by one with vague goals like these, and you've technically reached your goal!
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A better goal would be to increase monthly revenue to $100,000 within 12 months. Project managers can then identify relevant objectives to reach that goal. For example, to reach $100,000 in 12 months, the agency must:
<ul>
<li style="font-weight: 400;" aria-level="1">Increase email subscribers to X, with an open rate of X, and click rate of X</li>
<li style="font-weight: 400;" aria-level="1">Spend X on paid ads</li>
<li style="font-weight: 400;" aria-level="1">Grow social media following to X</li>
<li style="font-weight: 400;" aria-level="1">Increase website traffic by X%</li>
</ul>
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A project manager will identify monthly benchmarks and KPIs for the marketing project to meet its end goal within each of these targets.
Returning to project management best practices, managers must apply either a SMART or CLEAR goal strategy.
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SMART&mdash;Allows managers to clearly defined achievable goals that reduce and manage risk effectively.
<ul>
<li style="font-weight: 400;" aria-level="1">Specific</li>
<li style="font-weight: 400;" aria-level="1">Measurable</li>
<li style="font-weight: 400;" aria-level="1">Attainable</li>
<li style="font-weight: 400;" aria-level="1">Realistic</li>
<li style="font-weight: 400;" aria-level="1">Timely</li>
</ul>
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CLEAR&mdash;Designed to be dynamic, fast, and flexible. Managers set clear goals with the flexibility to adapt the project plan when problems or opportunities present themselves.&nbsp;
<ul>
<li style="font-weight: 400;" aria-level="1">Collaborative</li>
<li style="font-weight: 400;" aria-level="1">Limited</li>
<li style="font-weight: 400;" aria-level="1">Emotional</li>
<li style="font-weight: 400;" aria-level="1">Appreciable</li>
<li style="font-weight: 400;" aria-level="1">Refinable</li>
</ul>
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<h3>6 - Build Strong Communication Channels</h3>
Communication is vital for ensuring teams follow the plan and objectives to meet the project's goals. Marketing is unique in that a piece of content could go viral, ultimately impacting the project's scope and objectives.
Strong communication channels allow teams to stay connected and make adjustments to complement each other towards a common goal.
Effective communication doesn't only mean that teams talk to one another; project managers must communicate tasks, workflows, guidelines, documentation for tools, standard operating procedures, and more to ensure everyone is on the same page.
The project management tools we mentioned above are designed to foster strong communication for the project and among peers.
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<h3>7 - Be Open to Change &amp; New Ideas</h3>
There's nothing more damaging than an autocratic project manager who's not open to change or new ideas. Marketing often has to react to market changes and trends.
Adapting to these conditions (while maintaining the project and brand's integrity) could help marketing projects reach objectives faster while exceeding expectations.
Marketing project managers should also be open to listening to team members about new ideas or perspectives. After all, these people are experts in their respective fields.
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<h2>Secure Your Marketing Agency's Assets With TeamPassword</h2>
Executing marketing projects often requires teams to share credentials. Secure your marketing agency's (and client's) digital assets with <a href="https://app.teampassword.com/dashboard#signup/testimonial">TeamPassword's secure password manager</a>.&nbsp;
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Use a single TeamPassword account for all of your company and client assets. <a href="https://app.teampassword.com/dashboard#signup/testimonial">Sign up for a 14-day free trial</a> to test TeamPassword for your next marketing project.

This article explores seven tips for marketing project management and how managers can ensure campaigns operate smoothly. | Teampassword

This article explores seven tips for marketing project management and how managers can ensure campaigns operate smoothly to ...

7 tips for marketing project management

This article explores seven tips for marketing project management and how managers can ensure campaigns operate smoothly to reach their end goals.

This article looks at five marketing roles for your business and recommendations for building a marketing team based on your business needs.

This article looks at five marketing roles for your business and recommendations for building a marketing team based ...

The first 5 marketing roles for your small business

First 5 Marketing roles for your small business: what roles do you need to hire

Adobe is at the heart of most businesses, especially creative agencies running on apps like Photoshop, Illustrator, Dreamweaver, and Premiere Pro, to name a few.&nbsp;
The problem with Adobe is that it's expensive, especially if you're a cash-strapped startup and you have to purchase multiple subscriptions. When added to the other tools and expenses, subscription fees devour cash flow.
Small businesses get around purchasing multiple subscriptions by sharing Adobe cloud credentials with teammates to save costs. Agencies might also have to provide freelancers and contractors temporary access to Adobe services they don't have.
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If you are sharing Adobe Cloud account credentials, using a password manager can mitigate the risk of unauthorized sharing and access. TeamPassword is an affordable password management solution for teams to share company credentials securely and efficiently. <a href="https://app.teampassword.com/dashboard#signup/testimonial">Sign up for a 14-day free trial</a> today!
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<h2>Important Disclaimer</h2>
It's important to note that sharing Adobe credentials is against the company's terms of use, so there is no feature within the Adobe suite to share a single account with coworkers.
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Adobe's terms of terms state under section 6.2 (C):
You must not misuse the Services or Software. For example, you must not: enable or allow others to use the Services or Software using your account information;
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However, we understand there are circumstances where you need to share an Adobe account, so this article demonstrates how to do this securely.
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<h2>Adobe Services That Agencies Use Regularly</h2>
Adobe has a massive suite of creative tools and software, but most agencies often use five core products.&nbsp;
Instead of purchasing each separately, it's cheaper to subscribe to the All Apps Business package and share access with teammates. You'll need to calculate how many packages you need for internal teams and possibly an extra one for freelancers to use.
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<h3>Adobe Acrobat</h3>
Adobe Acrobat allows agencies to create, edit, share and sign PDF documents. Adobe Acrobat is essential for sending client proposals, reports and requesting e-signatures for service agreements.
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<h3>Photoshop</h3>
Photoshop is one of Adobe's most popular products because it allows creatives to work with many pixel-based designs, including images, webpages, logos, proposals, and more.
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<h3>Illustrator</h3>
Illustrator is arguably one of the most popular and widely-used vector-based design programs. Creatives use Illustrator to design logos and other graphics.
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<h3>Premiere Pro</h3>
Premiere Pro is an advanced video editing suite agencies often use to create professional video content. Agencies sometimes use Premiere Pro with After Effects to enhance VFX and motion graphics.
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<h3>XD</h3>
Adobe XD is a popular UI/UX design software agencies often use to design websites, applications, and other digital products.&nbsp;&nbsp;
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<h3>The Challenges of Sharing an Adobe Account</h3>
<h3>Two Device Limit</h3>
Adobe allows you to sign in to Creative Cloud on two devices. So, effectively you can share a single Adobe account with two teammates.&nbsp;
If you sign into a third device, Adobe will forward you to a webpage displaying your three devices and prompt you to sign out of one.
It might be easier to manage the two-device limit if you're working with remote teams spread across different time zones since employees work at different times.
But, if you're working in the same office, using the same Adobe credentials might require some communication to prevent overlap.
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<h3>Sharing Adobe Credentials Safely</h3>
Adobe Cloud accounts often contain sensitive client and company data. You must protect this information by ensuring that you <a href="https://teampassword.com/blog/how-to-safely-share-passwords-with-coworkers">share passwords safely with coworkers</a>!
Sharing Adobe credentials (or any passwords for that matter) via email, spreadsheets, messaging apps, or digital notepads can expose your company to cybersecurity vulnerabilities.
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<h2>How to Share an Adobe Account Safely</h2>
While we can't help with Adobe's two-device limit, we can provide a solution for sharing credentials safely, including with freelancers.
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A <a href="https://app.teampassword.com/dashboard#signup/testimonial">password manager</a> is the best way to share passwords safely with coworkers. TeamPassword offers a <a href="https://app.teampassword.com/dashboard#signup/testimonial">14-day free trial</a> for you to try-before-you-buy!
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Once you have signed up for a TeamPassword account, you can follow these step-by-step instructions:
<ol>
<li style="font-weight: 400;" aria-level="1">Invite your teams to TeamPassword, so everyone has a separate login.</li>
<li style="font-weight: 400;" aria-level="1">Add the Adobe Creative Cloud account(s) you want to share to TeamPassword.</li>
<li style="font-weight: 400;" aria-level="1">Create groups for each Adobe account to share credentials. You can put all the Adobe accounts into one group, but this might cause confusion.</li>
<li style="font-weight: 400;" aria-level="1">If you have two employees per Adobe account, you can pair teammates to share access to a single set of credentials.&nbsp;</li>
<li style="font-weight: 400;" aria-level="1">Team members can log into Adobe Cloud using one of TeamPassword's browser extensions.</li>
</ol>
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You can also create a separate TeamPassword account and group to <a href="https://teampassword.com/blog/should-i-share-data-with-freelancers">share passwords with freelancers</a>.
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<h2>What is TeamPassword &amp; How Does it Work?</h2>
Companies can use TeamPassword to store and share all of your company's passwords. Team members can also use the <a href="https://app.teampassword.com/dashboard#signup/testimonial">password manager</a> to save individual credentials for email, Slack, cloud services, and other personal logins.
Keeping all of your company's passwords in one secure password manager allows you to mitigate password attacks and other <a href="https://teampassword.com/blog/what-is-a-security-audit-and-does-my-business-need-one">security vulnerabilities</a>.
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<h3>Built for Teams Startups, Small Businesses, &amp; Agencies</h3>
Most enterprise <a href="https://teampassword.com/blog/what-is-password-vaulting">password vaults</a> are simply too expensive, with many features small businesses don't need.&nbsp;
We designed TeamPassword because we recognized that many startups, <a href="https://teampassword.com/blog/how-to-manage-your-small-business-passwords">small businesses, and marketing agencies often share passwords</a> among coworkers using unsecure methods.
Rather than provide you with services you don't need, TeamPassword focuses on simple, secure, and efficient credential sharing. Our minimalist UI means you can onboard new team members in minutes, maximizing your team's productivity.
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Here's how TeamPassword increases security and productivity with a robust password management solution for small businesses, startups, and agencies.
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<h3>Sharing Access via Groups</h3>
Create groups to share access with coworkers in TeamPassword. You can set these groups up however you like, by department, project, client, etc. You can also create separate groups for different teams with access to the same credentials&mdash;like employees, clients, and contractors.
If someone or an entire group no longer needs access, you can remove them with a single click!
Employees can also use TeamPassword for their other company passwords that they don't need to share. When you create new credentials, TeamPassword gives you two Share with options:
<ul>
<li style="font-weight: 400;" aria-level="1">Only Me (Private)</li>
<li style="font-weight: 400;" aria-level="1">Choose one of your groups</li>
</ul>
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<h3>Login From Any Device</h3>
Instead of manually entering a username and password, team members use TeamPassword's browser extensions (Firefox, Chrome, Safari) or mobile app (iOS &amp; Android).
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<h3>Stronger Passwords</h3>
Reusing credentials and weak passwords are two password mistakes small businesses often make. TeamPassword's built-in <a href="https://teampassword.com/password-generator">password generator</a> lets you create strong, unique credentials for every account&mdash;mitigating several security vulnerabilities!&nbsp;
Generate passwords from 12-32 characters using letters (uppercase &amp; lowercase), numbers, and symbols. You can also use our password generator to create <a href="https://teampassword.com/blog/best-types-of-usernames-username-ideas-to-make-your-logins-more-secure">unique usernames</a>, enhancing your credential security!
When you reset passwords, TeamPassword automatically updates the credentials for all users so employees can keep working without disruptions.
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<h3>Two-Factor Authentication</h3>
TeamPassword's two-factor authentication (2FA) requires a six-digital Google Authenticator code before a team member can log in. Each employee can also generate security codes so they're never locked out of their TeamPassword account.
If someone manages to steal an employee's TeamPassword credentials, 2FA prevents attackers from a full breach.
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<h3>Activity Log &amp; Email Notifications</h3>
TeamPassword keeps track of every user's action with a date and time log. You can also set up email notifications for instant alerts to sensitive TeamPassword actions, groups, or credentials.
The activity log is also helpful for investigating data breaches, unauthorized access, and sharing.
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<h2>Why You Should Use a Password Manager to Share Credentials</h2>
Most data breaches happen as a result of password attacks and poor credential management policies. Using a password manager reduces the risk of exposing passwords to attackers while giving companies control over sharing and access.
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Here are 5 most common password attacks that a password manager can help prevent:
<ol>
<li style="font-weight: 400;" aria-level="1">Phishing is a social engineering attack and one of the most common methods criminals use to steal employee credentials. Hackers use spoofed communication to trick employees into sharing their credentials or sensitive information.</li>
<li style="font-weight: 400;" aria-level="1">Hackers use automated bots on login pages during a brute force attack to try username and password combinations until one works. Most applications use Google reCAPTCHA and 2FA to minimize these attacks, but using random usernames and passwords significantly reduces the likelihood of a brute force attack.</li>
<li style="font-weight: 400;" aria-level="1">If your company reuses passwords, you're exposing yourself to a credential stuffing attack where hackers use stolen credentials to log into other applications and services using the same username and password combination.</li>
<li style="font-weight: 400;" aria-level="1">A dictionary attack is why you should not rely on team members to create passwords! Most people use familiar password phrases like pets, children, street names, etc. Criminals can research this information through employee bios and social media accounts, building a "dictionary" of information on victims. They add these terms to algorithms that effectively use a more focused brute force attack.</li>
<li style="font-weight: 400;" aria-level="1">A man-in-the-middle-attack (MitM) is where hackers intercept data (including passwords) as it's sent from one system to another. Common MitM attack methods include unencrypted WiFi networks or HTTP websites.</li>
</ol>
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By using <a href="https://app.teampassword.com/dashboard#signup/testimonial">TeamPassword's password manager</a>, companies can significantly reduce the risk of these common attacks.
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<h2>Try TeamPassword for Free</h2>
Ready to test TeamPassword with your team? <a href="https://app.teampassword.com/dashboard#signup/testimonial">Sign up for a 14-day free trial</a> to experience the security and efficiency of working with TeamPassword!

Adobe Cloud often contain sensitive client and company data. Experience security and efficiency by using TeamPassword's password manager.

Adobe Cloud accounts often contain sensitive client and company data. By using TeamPassword's password manager, companies can significantly ...

Sharing Adobe Cloud credentials with teammates

Adobe Cloud accounts often contain sensitive client and company data. By using TeamPassword's password manager, companies can significantly reduce the risk of common attacks.

Marketing KPIs (key performance indicators) are critical for companies to measure campaign successes, what's working, and what's not.
As you will see in this article, it's essential to calculate several of these metrics because when used together they give each other context.
Does your marketing team <a href="https://teampassword.com/blog/secure-password-sharing">share passwords</a> for social media platforms, marketing tools, software, and other applications? Sharing passwords via email, spreadsheets, messaging apps, and other unsecure methods could put your company, clients, and end-users at risk!
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Switch to TeamPassword, the affordable and robust password management solution for small businesses and startups. <a href="https://app.teampassword.com/dashboard#signup/testimonial">Sign up for a 14-day free trial</a> to try TeamPassword.
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<h2>1 - Customer Acquisition Cost (CAC)</h2>
Customer acquisition cost (CAC) measures what you spend to convert a single lead into a paying customer&mdash;sometimes compared alongside customer lifetime value (LTV).&nbsp;
CAC is one of the most important marketing metrics for startups because it tells you how much you need to spend to grow your customer base. Investors often consider CAC to determine a startup's burn rate and how that will affect cash flow.
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<h3>Customer Acquisition Cost Calculation</h3>
Customer Acquisition Cost = Sales and Marketing Expenses / Number of New Customers
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You can calculate your CAC on a few levels:
<ul>
<li style="font-weight: 400;" aria-level="1">Campaign level&mdash;individual marketing campaigns</li>
<li style="font-weight: 400;" aria-level="1">Medium level&mdash;social media, paid ads, email marketing, content marketing, custom-defined, etc.</li>
<li style="font-weight: 400;" aria-level="1">Total marketing budget</li>
</ul>
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
<h3>Campaign Level CAC</h3>
Your CAC at the campaign level will help you determine how much you spent to acquire customers for a specific campaign. For example, an eCommerce store's Summer Sale that included paid ads, social media, and email marketing.
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
<h3>Medium Level CAC</h3>
Medium level CAC calculates how much you spend to acquire a new customer per medium. This calculation will help you determine where to focus your marketing efforts, like social media, paid ads, or email marketing, for example.
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
<h3>Total Marketing Budget</h3>
Calculating your customer acquisition cost for your entire marketing budget will determine how much you're spending on marketing vs. the cost to acquire new customers.
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
<h2>2 - Customer Lifetime Value (LTV)</h2>
Customer lifetime value (LTV) measures the total average revenue each customer will generate. Companies often measure LTV with CAC to understand the cost to acquire a new customer vs. the total value of that customer.
&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
<h3>Customer Lifetime Value Calculation</h3>
Calculating your LTV requires two steps. First, you need to calculate your lifetime value, then your LTV.
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
Step one&mdash;calculating lifetime value:
Lifetime value = Average value of sales x number of transactions x retention period
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
Step two&mdash;calculating LTV:
Customer lifetime value = lifetime value x profit margin
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
If your CAC is higher than your LTV, then effectively, you don't have a viable business model because you will never generate any profit.
Having said that, many startups operate at a CAC higher than their LTV early on to build a customer base. The idea is that once you acquire a certain number of customers, they'll invite other users, which will drive organic growth, and reduce your overall CAC over time.
Without a massive budget, this strategy is extremely risky and could bankrupt the company. It's better to manage your marketing budget with a CAC as low as possible while maximizing your LTV.
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
<h3>How to Increase the LTV?</h3>
<ul>
<li style="font-weight: 400;" aria-level="1">Communication builds rapport with customers and increases the likelihood that they'll spend more money.</li>
<li style="font-weight: 400;" aria-level="1">Find ways to re-engage existing customers to get them to spend more.</li>
<li style="font-weight: 400;" aria-level="1">Develop strategies to build brand loyalty so that customers are more likely to exceed your average LTV.</li>
</ul>
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
<h2>3 - Cost Per Acquisition (CPA)</h2>
Cost per acquisition (CPA) is often confused with customer acquisition cost. Where CAC measures the cost to acquire a customer, CPA measures for any acquisition that is not yet a customer&mdash;for example, leads, trial users, sign-ups, etc.
&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
<h3>Cost Per Acquisition Calculation</h3>
The CPA formula is the same as the CAC calculation.
Cost Per Acquisition = Sales and Marketing Expenses / Number of New Acquisitions
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
<h2>4 - Return on Investment (ROI)</h2>
Return on investment (ROI) measures the gross profit you generate from your marketing investment.
ROI is usually represented as a percentage that indicates the difference (margin) between revenue and expenses. The higher the percentage, the more profitable your return on investment.
When calculating returns specifically for marketing campaigns, companies sometimes refer to ROI as ROMI (Return on Marketing Investment).
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
<h3>Return on Investment Calculation</h3>
Return on investment = (sales growth - cost of investment) / cost of investment
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
Spreadsheet tip: If you're adding this formula to a spreadsheet, make sure you set the cell to percentage.
&nbsp; &nbsp;&nbsp;
<h2>5 - Traffic-to-Lead Ratio</h2>
Traffic-to-lead ratio is the number of leads you acquire related to the source&mdash;organic, paid ads, email marketing, social media, etc.&nbsp;
&nbsp; &nbsp; &nbsp;&nbsp;
<h3>Traffic-to-Lead Ratio Calculation</h3>
Traffic-to-Lead Ratio = Visitors / Leads
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
The lower your traffic-to-lead ratio, the more valuable the traffic source.
For example, you get 100 leads from Instagram and 50 leads from Pinterest during a month. You would assume Instagram is where you need focus, right?
But what if, to get those leads, you had to drive 10,000 visitors from Instagram and 1,000 from Pinterest?
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
Each traffic-to-lead ratio would look like this:
<ul>
<li style="font-weight: 400;" aria-level="1">Instagram: 100:1&mdash;one lead for every 100 visitors&nbsp;</li>
<li style="font-weight: 400;" aria-level="1">Pinterest: 20:1&mdash;one lead for every 20 visitors</li>
</ul>
Pinterest traffic is more valuable in this scenario because you have to drive fewer visitors per lead.
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
Traffic-to-lead ratio can help understand several things about the leads you generate:
<ul>
<li style="font-weight: 400;" aria-level="1">Determine the impact of layout or content changes</li>
<li style="font-weight: 400;" aria-level="1">Learn which are your best traffic sources</li>
<li style="font-weight: 400;" aria-level="1">If you have an affiliate marketing campaign, you can tell which affiliate drives the most valuable traffic</li>
</ul>
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
<h2>6 - Return on Ad Spend (ROAS)</h2>
Return on Ad Spend (ROAS) measures the revenue you generate for every dollar you spend, usually expressed as a ratio.
In most cases, you want your return to be higher than your spending. However, you might also consider your customer lifetime value. If you have a high LTV, then you can afford to lose a little on your ROAS because you know you'll see a return over time.
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
<h3>Return on Ad Spend Calculation</h3>
Return on Ad Spend = Revenue generated from ads / Money spent on ads
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
How do you protect your leads and customers? Does your team <a href="https://teampassword.com/blog/how-to-safely-share-passwords-with-coworkers">share passwords</a> for email marketing software and lead generation tools? Protect your customers' data with an effective password management solution from TeamPassword. <a href="https://app.teampassword.com/dashboard#signup/testimonial">Sign up for a 14-day free trial</a>.&nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
<h2>7 - Conversion Rate</h2>
Conversion rate is the number of customers who complete a specific action usually expressed as a percentage&mdash;like a sale, email signup, survey completion, etc. The higher your conversion rate, the better your content, sales funnel, and overall marketing efforts.
Conversion Rate Optimization (CRO) is the practice of looking for ways to improve conversions by testing changes to the marketing strategy&mdash;also referred to as growth hacking.
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
<h3>Conversion Rate Calculation</h3>
Conversion Rate = (Number of conversions / total visitors) x 100
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
<h2>8 - Follower Growth</h2>
Follower growth expresses the gains or losses in social media followers. This metric can help social media managers and brands understand if their messaging and content resonates with their target market.
Follower growth is an essential social media metric because the higher your follower count, the greater your organic reach and the less you need to spend on ads&mdash;depending on the platform's algorithm restrictions, of course!
&nbsp; &nbsp; &nbsp;
<h3>Follower Growth Calculation</h3>
Social media managers generally measure follower growth monthly, quarterly, and annually expressed as a percentage.
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
Follower Growth = (Number of new followers / total followers) x 100
&nbsp; &nbsp; &nbsp; &nbsp;
Note: if you lose followers, you must express the number of new followers as a negative to get your net loss as a percentage.
&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
<h2>9 - Organic Traffic</h2>
Organic traffic measures the number of visitors who find your website through search engine results. Organic traffic is significant because it costs the least to acquire.
You can create a blog post that costs a few hundred dollars to rank your website high in search engines, delivering "free" traffic for months, years, or even decades!
Brands are always looking to increase organic traffic through search engine optimization and blog content.
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
<h2>10 - Email Marketing: Open Rate &amp; Click-Through rate</h2>
There are two metrics email marketers measure (expressed as percentages):
<ul>
<li style="font-weight: 400;" aria-level="1">Open rate: how many people open your emails</li>
<li style="font-weight: 400;" aria-level="1">Click-through rate (CTR): how many people click email links</li>
</ul>
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
Open rate allows you to gauge the success of your email subject line and whether it resonates enough for people to open your email. This metric can also help to determine whether your emails are going to inboxes or straight to spam!
CTR tells you how successful your email content and CTAs were at getting people to click your links. If you have multiple links in an email, you can measure a separate CTR for each one to determine which content hyperlink was most effective.
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
<h3>Open Rate &amp; Click-Through rate Calculation</h3>
Open Rate = (Total emails opened / total emails delivered) x 100&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
Click-Through Rate = (Total link clicks / total emails delivered) x 100
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
<h2>Does Your Marketing Team Share Passwords?</h2>
Many marketing tools and social media platforms only allow a single login. In some cases, you pay per user, so teams share credentials to save monthly subscription costs.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
<a href="https://app.teampassword.com/dashboard#signup/testimonial">TeamPassword is a password management solution</a> for companies to share credentials with internal and external team members safely. Instead of <a href="https://teampassword.com/blog/secure-password-sharing">sharing passwords</a>, you share access to your company's digital assets via TeamPassword.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
Team members can use one of our browser extensions (Safari, Firefox, Chrome) or mobile app (iOS, Android) to log into accounts&mdash;meaning they never have to save or remember passwords because TeamPassword does it all for you!
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
<a href="https://app.teampassword.com/dashboard#signup/testimonial">Sign up for a 14-day free trial</a> to improve your company's password security and mitigate the potential for leaks and attacks.

Marketing KPIs are critical for companies to measure successes. This article will explain top ten marketing KPIs essential for your team.

Marketing KPIs are critical for companies to measure successes. This article will explain the top ten marketing KPIs ...

Top 10 marketing KPIs for your team

Marketing KPIs are critical for companies to measure successes. This article will explain the top ten marketing KPIs essential for your team.

Top ten marketing KPIs for your team

Marketing is one of the biggest challenges for small businesses and startups. You have to manage limited resources while trying to grow and engage your customer base.
One of the biggest marketing questions small businesses face is how will I run my marketing?
Do you hire:
<ul>
<li style="font-weight: 400;" aria-level="1">An in-house marketing team or individual?</li>
<li style="font-weight: 400;" aria-level="1">A marketing contractor?</li>
<li style="font-weight: 400;" aria-level="1">A marketing agency?</li>
</ul>
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
There's no one-size-fits-all approach to answering this marketing dilemma, but there are some pros and cons to weigh. This article will explore hiring a marketing contractor vs. in-house marketing vs. marketing agency and why you might consider one over another.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
No matter your choice, you'll need to share company or client passwords to give marketing teams access to social media, email marketing software, and other marketing tools.&nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
TeamPassword is an affordable password manager for small businesses and startups to share credentials securely with team members&mdash;including contractors, agencies, and clients. <a href="https://app.teampassword.com/dashboard#signup/testimonial">Sign up for a 14-day free trial</a> today!
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
<h2>In-House Marketing</h2>
Small business owners and startup founders are often wary of hiring people full-time. If you hit hard times, it's easier to cut back on outsourced marketing than finding money to meet payroll&mdash;employees come with lots of risk and responsibility!
But an in-house marketing team or individual also brings consistency, reliability, control and makes decisions in the company's best interests rather than their own.
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
<h3>Pros of In-House Marketing</h3>
<ul>
<li style="font-weight: 400;" aria-level="1">Speed and flexibility: An in-house marketing team can act faster with a higher degree of consistency than an agency or contractor. Full-time employees are also more likely to go that extra mile to ensure the company succeeds. This flexibility allows you to react quickly to market changes; critical in today's competitive landscape.</li>
<li style="font-weight: 400;" aria-level="1">Long-term consistency: Consistency is key to building a marketing strategy with long-term goals&mdash;something you'll struggle to achieve with a contractor or agency. Contractors and agency staff come and go, which means you also have to consider the cost of communicating and reiterating your company's mission. An employee will generally stick around for five to ten years, which means you can have one person committed to meeting KPIs for your company's long-term success.</li>
<li style="font-weight: 400;" aria-level="1">Security: We're living in an age where cybersecurity poses a massive risk to all companies globally. Contractors and agencies expose companies to <a href="https://teampassword.com/blog/what-is-a-security-audit-and-does-my-business-need-one">security risks</a>. In contrast, owners have far more control over full-time employees so that they can minimize these risks.</li>
</ul>
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
Manage your password vulnerabilities with a secure password management solution from TeamPassword. <a href="https://app.teampassword.com/dashboard#signup/testimonial">Sign up for a 14-day free trial</a> to minimize your company's cybersecurity risks.
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
<h3>Cons of In-House Marketing</h3>
<ul>
<li style="font-weight: 400;" aria-level="1">Responsibility: Full-time employees come with a lot of responsibility! Aside from salary and benefits, you have to consider where they work, tools and equipment, training, what happens during leave (vacation, sick, parental, etc.), company culture, and other factors many business owners don't consider when hiring.</li>
<li style="font-weight: 400;" aria-level="1">You need a team: Marketing is a multifaceted industry with social media, copywriting, content creation, email, paid ads, keyword research, and even PR in small businesses. All of these disciplines are full-time jobs alone! Even for a small company, this is a lot of work for one person, so you'll likely have to outsource some work early on.</li>
<li style="font-weight: 400;" aria-level="1">Slow to scale: Hiring full-time staff is a slow process, which can take months when you include the interview process and onboarding. These delays could impact how quickly your business can scale, especially during growth spikes.</li>
</ul>
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
<h2>Marketing Agency</h2>
There is a lot of value in hiring a marketing agency, but there are also several downsides you need to consider.
While you don't have the responsibility of a full-time team member, marketing agencies often lock you into fixed-term contracts that aren't easy to terminate early if you're unhappy with the service.
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
<h3>Pros of a Marketing Agency</h3>
<ul>
<li style="font-weight: 400;" aria-level="1">Multifaceted talent: Marketing agencies come with diverse talent, strategies, and ideas. This multifaceted expertise can provide significant value for your company's marketing efforts. Marketing agencies are also in tune with trends, customer behavior, and other market-related conditions.</li>
<li style="font-weight: 400;" aria-level="1">Team management: One of the challenges with full-time employees and contractors is that they require a degree of oversight. Marketing agencies manage their staff, so you never have to worry about employee leave, tools and equipment, training, etc. Your marketing campaigns continue 12 months a year without managing teams or people&mdash;freeing you to focus on other aspects of your business.</li>
<li style="font-weight: 400;" aria-level="1">Scalable &amp; adaptable: Another significant benefit to hiring a marketing agency is that they can quickly scale and adapt as your company grows. Depending on your contract, you can also cut back during slow periods to reduce costs and manage cash flow.</li>
</ul>
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
<h3>Cons of In-House Marketing</h3>
<ul>
<li style="font-weight: 400;" aria-level="1">Can lack consistency: With so many people working on your account, your campaigns' messaging, timing, and branding can lack consistency, especially in the first few months as you build an agency-company relationship. You also have no control over who works on your account or when the agency swaps staff&mdash;which could lead to inconsistencies or delays.</li>
<li style="font-weight: 400;" aria-level="1">Billable hours: Marketing agencies generally charge by the hour, allocating your campaigns a set amount of time per week. While agencies are usually pretty efficient, this time allocation limits your ability to make fast changes or push that little extra when required.</li>
<li style="font-weight: 400;" aria-level="1">Lack flexibility: Marketing often requires you to act fast to changes or opportunities as they present themselves, which can be challenging when working with an agency. You can't ask agency employees to work overtime to take advantage of opportunities or challenges. Additionally, changing a campaign usually requires you to go through a chain of communication at the marketing agency to get authorization or sign off on additional costs.</li>
<li style="font-weight: 400;" aria-level="1">High-security risk: While it's great to have a team of people working on your campaigns, marketing agencies significantly increase your security risk. You'll have little or no control over who has access to your company's digital assets or <a href="https://teampassword.com/blog/solving-common-agency-problems-with-a-password-manager">how marketing agencies share passwords</a>.&nbsp;</li>
</ul>
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
One way to mitigate this security risk is to use TeamPassword. Allocate a separate login for each person from the agency working on your account, and share your passwords through <a href="https://app.teampassword.com/dashboard#signup/testimonial">TeamPassword's password manager</a>. Sharing credentials with agencies this way gives you more control and reduces your password vulnerabilities.
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
<h2>Marketing Contractor</h2>
A marketing contractor provides a good balance between agency and full-time employee. You get the intimacy of an employee-employer relationship without the responsibility of a full-time team member.
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
<h3>Pros of a Marketing Contractor</h3>
<ul>
<li style="font-weight: 400;" aria-level="1">Experienced specialist: Marketing contractors come with a wealth of specialist experience. You can also hire different contractors to fulfill specific tasks and roles, so you get high-value expertise for all your marketing efforts.</li>
<li style="font-weight: 400;" aria-level="1">Flexible contracts: Marketing contractors generally have flexible (often verbal) agreements that you can terminate without notice. You also don't have to worry about benefits, salaries, taxes, etc.</li>
</ul>
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
<h3>Cons of a Marketing Contractor</h3>
<ul>
<li style="font-weight: 400;" aria-level="1">Lack of skills: Most marketing contractors are specialists, which is great for specific tasks, but it could be a problem if you don't have the resources for multiple freelancers!</li>
<li style="font-weight: 400;" aria-level="1">Availability: Marketing contractors often have several clients, and unlike agencies, they don't have the staffing to manage their calendar, meaning they're only available during specific days or times.</li>
</ul>
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
<h2>Cost Considerations for Types of Marketing</h2>
One thing we haven't mentioned in any of the pros and cons of marketing contractor vs. in-house marketing vs. marketing agency is cost. Cost is difficult to quantify because there are ways to save or overspend with all three options.&nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
<ul>
<li style="font-weight: 400;" aria-level="1">What resources do you already have to complement in-house marketing (i.e., graphic designer, copywriter, content creators, developers)? If you already have a small team, adding a full-time marketing director might be more valuable and cost-effective than a contractor or agency.</li>
<li style="font-weight: 400;" aria-level="1">A marketing agency with a diverse team will give you the highest value with minimal cost if you only have a small budget. They'll also have add-ons and extras to help you scale.&nbsp;</li>
<li style="font-weight: 400;" aria-level="1">A US-based marketing contractor can be cost-effective if you only need them a few hours a week. But they usually charge more per hour than a full-time employee or agency. If you need a lot of marketing work, a marketing contractor might work out the most expensive option.</li>
</ul>
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
<h2>Password Security for Internal &amp; External Teams</h2>
Most small businesses and startups hire a mix of in-house and outsourced team members. One of the challenges in this mixed environment is <a href="https://teampassword.com/blog/how-to-safely-share-passwords-with-coworkers">sharing passwords with coworkers</a>.
Many small businesses use unsecure methods like email, chat, spreadsheets, or digital notes to share credentials. These unsecured sharing methods expose companies (including clients, employees, and users) to attacks.
We designed <a href="https://app.teampassword.com/dashboard#signup/testimonial">TeamPassword</a> to solve this password management problem for small businesses.
With affordable plans, easy onboarding, multiple ways to log in, and robust security, TeamPassword is the <a href="https://app.teampassword.com/dashboard#signup/testimonial">best password manager</a> for small businesses managing internal and external teams.
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
Here is a quick overview of our password manager:
<ul>
<li style="font-weight: 400;" aria-level="1">Accessible everywhere: use our browser extensions (Firefox, Chrome, Safari) or mobile app (iOS, Android) to log into accounts.</li>
<li style="font-weight: 400;" aria-level="1">Groups &amp; sharing: create groups to share credentials with various teams. Only provide access to those who need it and easily revoke access with a single click!</li>
<li style="font-weight: 400;" aria-level="1">Robust passwords: a built-in <a href="https://teampassword.com/password-generator">password generator</a> lets you create unique, secure passwords for every account.</li>
<li style="font-weight: 400;" aria-level="1">Two-factor authentication (2FA): each team member can set up 2FA using Google Authenticator to add an extra layer of security for their TeamPassword account.</li>
<li style="font-weight: 400;" aria-level="1">Activity Logging &amp; Notifications: TeamPassword tracks every team member's activity, so you can keep track of movements and identify suspicious activity. You can also set up email notifications for instant alerts to your most sensitive data and accounts.</li>
</ul>
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
<a href="https://app.teampassword.com/dashboard#signup/testimonial">Sign up for a 14-day free trial</a> and secure your company's assets with TeamPassword&mdash;no obligation and no credit card required!

With affordable plans, easy onboarding and robust security, TeamPassword is the best password manager for small businesses.

With affordable plans, easy onboarding, multiple ways to log in, and robust security, TeamPassword is the best password ...

Marketing Contractor vs. In-house marketing vs. Marketing Agency

With affordable plans, easy onboarding, multiple ways to log in, and robust security, TeamPassword is the best password manager for small businesses managing internal and external teams.

Marketing Contractor vs. Internal Marketing Team vs. Marketing Agency

The events of 2020 have accelerated the change in how companies hire workers. 59 million people were freelancing in the United States in 2020&mdash;up from 53 million in 2014 and 57 million in 2019! (Source: Statista)
Sites like Upwork, Fiverr, Freelancer, <a href="https://www.toptal.com/" rel="follow noopener" target="_blank">Toptal</a>, and others make it easy for companies to hire great talent with escrow payments and dispute resolution to mitigate risks for both parties.
This gig economy is fantastic for small businesses, solopreneurs, and agencies to supplement their workforce to complete jobs and tasks. But, when should small businesses switch from hiring freelancers to full-time employees?
This article will explore the difference between hiring freelancers vs. full-time employees, the pros and cons, and which is better for your business.
Unfortunately, there's no magic formula to decide whether freelancers or full-time staff are better for your business. You'll need to consider several factors, including your industry, legislation for handling data, labor compliance, feasibility, and security, to name a few.
These are by no means rules for you to make decisions. Instead, use this article as a guide when considering who to hire and when.
Whether your business hires full-time staff, freelancers, or contractors, you'll need a secure way to share passwords.&nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
TeamPassword is a safe and affordable password management solution for small businesses. <a href="https://app.teampassword.com/dashboard#signup/testimonial">Sign up for a 14-day free trial</a> to explore TeamPassword's security features for your team.
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
<h2>Freelancer Definition</h2>
Businesses must know how the IRS defines a freelancer because this distinction can affect the freelancer's independence.&nbsp;
If an employer controls certain behavioral and financial aspects of the agreement, the IRS classifies the freelancer as an employee, and the employer may be liable to pay benefits and taxes.
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
<h3>Behavioral Control</h3>
The IRS divides behavioral factors into four categories:
<ul>
<li style="font-weight: 400;" aria-level="1">Type of instructions given: Where, when, and how the freelancer must work, tools or equipment, subcontracting, where to purchase supplies, who must complete the work.</li>
<li style="font-weight: 400;" aria-level="1">Degree of instruction: It is important to determine how much control the employer has over the type of instruction. To avoid grey areas, it's best to minimize instructions or control over how a freelancer completes tasks.</li>
<li style="font-weight: 400;" aria-level="1">Evaluation systems: "If an evaluation system measures the details of how the work is performed, then these factors would point to an employee." - cite: IRS Official Website</li>
<li style="font-weight: 400;" aria-level="1">Training: If you provide freelancers with training on how to complete the job a certain way, the IRS may classify this as an employer-employee relationship.&nbsp;</li>
</ul>
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
<h3>Financial Control</h3>
The IRS divides financial factors into four categories:
<ul>
<li style="font-weight: 400;" aria-level="1">Significant investment: Applies to tools and equipment the worker needs to complete their job.&nbsp;</li>
<li style="font-weight: 400;" aria-level="1">Unreimbursed expenses: Freelancers don't typically have expenses reimbursed.&nbsp;</li>
<li style="font-weight: 400;" aria-level="1">Opportunity for profit or loss: The possibility of a loss indicates the worker is a freelancer.</li>
<li style="font-weight: 400;" aria-level="1">Services available to the market: Freelancers are free to advertise their services and work for other employers. The IRS might consider any restrictions as an employer-employee relationship.</li>
<li style="font-weight: 400;" aria-level="1">Method of payment: Even when employers pay freelancers an hourly rate, there is no guarantee of a regular wage.</li>
</ul>
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
<h3>Type of Relationship</h3>
<ul>
<li style="font-weight: 400;" aria-level="1">Written contracts: Even if a written agreement states that the worker is a freelancer, the IRS will investigate financial and behavioral control to make their determination.</li>
<li style="font-weight: 400;" aria-level="1">Employee benefits: The IRS considers insurance, pension plans, paid vacation, sick days, and disability insurance as employee benefits that don't extend to freelancers.&nbsp;</li>
<li style="font-weight: 400;" aria-level="1">Permanency of the relationship: An indefinite working relationship might classify a worker as an employee. Specifying the contract's termination (whether it's a date, completion of a task, or project) eliminates any grey areas in this regard.</li>
<li style="font-weight: 400;" aria-level="1">Services provided as key activity of the business: "If a worker provides services that are a key aspect of the business, it is more likely that the business will have the right to direct and control his or her activities." cite: IRS Official Website</li>
</ul>
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
<h2>Six Key Differences Between Freelancers and Full-Time Employees</h2>
Here is a quick snapshot of six key differences between freelancers and full-time employees and how they affect your HR and payroll.&nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
Note that the employee includes full-time and part-time workers.
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
Tax responsibility:
<ul>
<li style="font-weight: 400;" aria-level="1">Freelancer: Pays their own self-employment tax</li>
<li style="font-weight: 400;" aria-level="1">Employee: Company withholds and pays taxes, including social security, and Medicare tax</li>
</ul>
Benefit responsibility:
<ul>
<li style="font-weight: 400;" aria-level="1">Freelancer: Pays for their own benefits</li>
<li style="font-weight: 400;" aria-level="1">Employee: Company provides benefits as part of the employee's remuneration package</li>
</ul>
Unemployment and workers compensation:
<ul>
<li style="font-weight: 400;" aria-level="1">Freelancer: Not eligible</li>
<li style="font-weight: 400;" aria-level="1">Employee: Eligible&mdash;with conditions</li>
</ul>
Work hours:
<ul>
<li style="font-weight: 400;" aria-level="1">Freelancer: Flexible work hours&mdash;but usually with objectives and deadlines</li>
<li style="font-weight: 400;" aria-level="1">Employee: Hours set by the employer</li>
</ul>
Rates/Salary:
<ul>
<li style="font-weight: 400;" aria-level="1">Freelancer: Sets their rates, and these may vary for different tasks and services</li>
<li style="font-weight: 400;" aria-level="1">Employee: Set by the employer/negotiated at the start of contract</li>
</ul>
Place of work:
<ul>
<li style="font-weight: 400;" aria-level="1">Freelancer: Remote</li>
<li style="font-weight: 400;" aria-level="1">Employee: Company offices/remote (sometimes with restrictions)</li>
</ul>
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
<h2>When to Hire Freelancers vs. Full-Time Employees</h2>
Many business owners struggle to decide when it's necessary to hire freelancers or full-time employees. There are several factors you must consider to determine what's suitable for your business and available resources.
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
<h3>Security/Legal Considerations</h3>
If your business handles or stores client or user data, there may be legal requirements for who is allowed access to that information. You'll also want to consider the security risks of having a freelancer or full-time employee handling sensitive data and intellectual property.
If you have tasks or projects requiring someone to work intimately with sensitive company information, you should hire a full-time employee <a href="https://www.teampassword.com/blog/keeping-data-secure-when-working-with-freelancers">over a freelancer.</a>
You'll have greater control with a full-time worker, including where they work, the networks they connect to, and other security protocols. You can also supply them with secure company devices to log into systems securely.
We recommend you complete a <a href="https://teampassword.com/blog/what-is-a-security-audit-and-does-my-business-need-one">security audit</a> to learn more about your company's vulnerabilities and who you want to hire to handle sensitive company data.
Make sure you always use a password manager for freelancers and full-time team members to limit access to applications and data.
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
TeamPassword lets you create groups for sharing credentials to your company's digital assets&mdash;preventing unauthorized sharing and access! <a href="https://app.teampassword.com/dashboard#signup/testimonial">Sign up for a free trial</a> to test TeamPassword's credential sharing and access control functionality. 
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
<h3>Worker's Availability</h3>
One of the challenges with hiring freelancers is that they often work with several clients, creating scheduling conflicts and limiting their availability. They may only be available to deliver work on certain days or timeframes.
If you're struggling to meet deadlines for specific tasks because of freelancer availability, it might be time to fill that position with a full-time employee.
You'll need to complete a cost analysis of the value of those tasks, the cost for delays, and how you can increase capacity (and revenue) with a full-time staff member in that role.
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
<h3>Client Interaction</h3>
You should avoid hiring freelancers for roles where they must interact with your clients or users. Freelancers don't have a vested interest in your business, nor do they share your company culture and values. You also have to worry about a freelancer stealing your business!
If you're a small company, hiring an account manager can help facilitate communication between your clients and freelancers. If a freelancer does have to be on a call (to answer technical or specialized questions), make sure a full-time employee is present to lead the conversation and only call on the freelancer when necessary.
If you need someone specialized to communicate with clients and users regularly, it would be better to hire a full-time employee. This person will help maintain consistency while promoting the company's best interests.&nbsp;
You might not see the gains immediately, but over time that consistency will prove invaluable. As a specialist, this person will have a positive impact on growing your business.
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
<h3>Feasibility</h3>
You need to constantly measure the feasibility of hiring a freelancer vs. a full-time employee.
First, calculate the cost of a full-time employee for each service you provide. For example, a creative agency might need a marketer, copywriter, UX designer, developer, account manager, and social media manager.&nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
Your full-time costs per role should include:
<ul>
<li style="font-weight: 400;" aria-level="1">Salary</li>
<li style="font-weight: 400;" aria-level="1">Benefits</li>
<li style="font-weight: 400;" aria-level="1">Overtime</li>
<li style="font-weight: 400;" aria-level="1">Leave</li>
<li style="font-weight: 400;" aria-level="1">Equipment</li>
<li style="font-weight: 400;" aria-level="1">Payroll/HR</li>
<li style="font-weight: 400;" aria-level="1">And other costs associated with hiring a full-time employee</li>
<li style="font-weight: 400;" aria-level="1">Office/remote work costs</li>
</ul>
Every six months to a year, you can calculate how much you spend on freelancers to complete a specific role vs. the cost of a full-time employee. If you're consistently spending more on freelancers, then it's time to consider a full-time team member.
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
<h2>Password Security for Small Businesses</h2>
Whether you work with freelancers or full-time staff, every small business must have a <a href="https://app.teampassword.com/dashboard#signup/testimonial">secure password management solution</a>.
TeamPassword offers an affordable password manager designed to scale as your business grows.&nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;
<h3>Safe and Easy Sharing</h3>
You can create groups to share passwords with different teams, individuals, or freelancers. Instead of using raw credentials, team members use TeamPassword's browser extensions (Safari, Chrome, Firefox) or mobile app (iOS, Android) to log in.
When someone no longer needs access, remove them from a group with a single click&mdash;no need to change passwords every time!
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
<h3>Built-In Password Generator</h3>
If you need to change a password, you can use TeamPassword's built-in <a href="https://www.teampassword.com/password-generator">password generator</a> to instantly create a new one. The new credentials will automatically update for all team members so that work can continue uninterrupted!
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
<h3>Activity Logging and Email Notifications</h3>
TeamPassword's activity log lets you track logins, sharing, new team members, <a href="https://teampassword.com/blog/how-often-should-you-change-your-password-the-importance-of-password-safety">password changes</a>, and more. You can also set up email notifications for instant alerts for any of TeamPassword's actions.
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
<h3>Get Started for Free!</h3>
<a href="https://app.teampassword.com/dashboard#signup/testimonial">Sign up for a 14-day free trial</a> to test TeamPassword with your business. Add shared credentials, invite your team, and start sharing passwords securely with TeamPassword!

This article explores the difference between hiring freelancers vs. full-time employees and which is better for your business. | teampassword.

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So you think hackers have stolen your password? You're not the only one. 
Perhaps you've noticed strange activity on your email account or frequent pop-ups on your computer. Perhaps it's just a hunch. 
But how can you know&nbsp;for sure?
There are many warning signs that you've been the victim of a data hack:
<ul>
<li>Your device is slower than normal.</li>
<li>You use more data than normal.</li>
<li>Videos take longer to load.</li>
<li>You received an email notification about a password change you didn't make.</li>
<li>An online account no longer accepts your password.</li>
</ul>
However, hackers can steal your passwords and identity&nbsp;without you ever knowing. That's why it's so difficult to tell if you're the victim of a hack.
This guide will help you work out if hackers have stolen your information and tell you how to stop it from happening again.&nbsp;
Prevent hackers from stealing your data by incorporating TeamPassword into your tech stack. This password manager for teams comes with a range of security features like two-step verification and password encryption.&nbsp;<a href="https://app.teampassword.com/dashboard#signup/testimonial" target="_blank" rel="noopener">Sign up for a free trial</a>&nbsp;today.&nbsp;

<h2>Have I Been Hacked? How Do I Know?</h2>
There are various ways to tell whether hackers have access to your information:
<ul>
<li>Look for unusual activity on your account. This activity includes logins to your social media accounts from unfamiliar locations or mass messages sent from your email account.&nbsp;</li>
<li>Look for security emails from account providers that warn about failed login attempts or password changes you didn't make.&nbsp;&nbsp;</li>
<li>Look for changes in performance on the devices, apps, and websites you use. For example, see if videos take longer to buffer than normal.&nbsp;</li>
<li>Look at your browser's password manager (if you use one) and check that nobody has changed these credentials.&nbsp;</li>
</ul>
All the above can be a guessing game. You might have a feeling that you're the victim of a hack but don't know for sure. 
Checking a stolen password list like "Have I Been Pwned" clears up some of the confusion. This tool searches across multiple data breaches &mdash; when hackers take stolen passwords and usernames and post them online &mdash; to see if cybercriminals have compromised your personal information. 
Here's how to use this stolen password list:
<ol>
<li>Enter your email address on the main page.&nbsp;</li>
<li>Click "pwned."</li>
<li>The website will search thousands of databases to see if hackers have stolen your personal information.</li>
<li>If you receive the "Oh no &ndash; Pwned!" message, it means hackers have posted sensitive information associated with your email address (passwords, addresses, phone numbers, etc.) somewhere online.</li>
<li>If you receive the "Good news &ndash; no pwnage found!" message, it means the website could not find your information on the internet.&nbsp;</li>
</ol>
Note: Just because the website can't find your data on the internet, it doesn't mean hackers haven't compromised your personal information.
Read more:&nbsp;<a href="https://teampassword.com/blog/password-manager-for-small-businesses" target="_blank" rel="noopener">Password Manager for Small Businesses</a>

<h2>Which Passwords Did Hackers Steal?</h2>
Establish which passwords hackers stole in a data breach so you can take quick action. Websites like "Have I Been Pwned"&nbsp;won't&nbsp;tell you which passwords are at risk. You'll only learn whether hackers have compromised the data associated with a particular email address. 
Note: Sometimes, hackers might have access to your email address and other personal information but not your password. It's hard to know for sure.&nbsp;
If hackers have access to your data, it's a good idea to change&nbsp;all passwords&nbsp;associated with the compromised email address. If you use your email address for several online accounts, change the passwords for these services. Updating these passwords might take you a while, and remembering the new passwords leads to additional problems. (Keep reading to find a solution.)
Here are some other tips:
<ul>
<li>When choosing new passwords, use combinations of lowercase letters, uppercase letters, numbers, and symbols. Passwords that use all these elements are stronger than those that don't.</li>
<li>Don't write your passwords down because this increases the risk of identity theft.&nbsp;&nbsp;</li>
<li>Don't tell anyone your new passwords.</li>
</ul>
Read more:&nbsp;<a href="https://teampassword.com/blog/the-most-secure-way-to-share-passwords" target="_blank" rel="noopener">The Most Secure Way to Share Passwords</a>.

<h2>How Common Is a Data Hack?</h2>
More common than you think. Hackers were responsible for more than 4,000 attacks every day in 2020, and the total number of compromised records exceeded 37 billion. That's a 141% increase from 2019. Much of this compromised data appears on the dark web, where cybercriminals use it to facilitate illegal activities such as identity theft and money laundering.&nbsp;
If you have been the subject of a data hack, you are not alone. However, it's important to act quickly to prevent hackers from accessing your personal or financial accounts.&nbsp;
There are other types of cybercrime to consider. Cybercriminals use techniques like phishing, where they impersonate people online and trick victims into handing over their personal information. Phishing now accounts for more than 80% of all cybersecurity incidents, and criminals steal $17,700 every minute in these attacks.&nbsp;

<h2>What Kind of Information Do Hackers Steal?</h2>
Hackers steal all kinds of personal and financial information:
<ul>
<li>Names</li>
<li>Email addresses</li>
<li>Usernames</li>
<li>Passwords</li>
<li>Addresses</li>
<li>Phone numbers</li>
<li>Bank account details</li>
<li>Credit card numbers</li>
<li>Social Security numbers</li>
<li>Insurance information&nbsp;</li>
<li>IRS information</li>
<li>Photos</li>
<li>Private message</li>
<li>SMS messages</li>
</ul>
Nothing is off-limits for hackers, and these criminals go to great lengths to steal your data. Once they have access to the information above, hackers can transfer money from your bank accounts, use your identity to apply for financing, and damage your credit file.&nbsp;
Read more:&nbsp;<a href="https://teampassword.com/blog/the-scariest-data-breaches-of-all-time" target="_blank" rel="noopener">The Scariest Data Breaches of All Time</a>.
TeamPassword is the best password manager for teams. Features include two-step verification, password encryption, easy password sharing, and more.&nbsp;<a href="https://app.teampassword.com/dashboard#signup/testimonial" target="_blank" rel="noopener">Get a free trial now</a>&nbsp;and learn how TeamPassword keeps you safe online.&nbsp;

<h2>Have I Been Hacked? How to Stay Safe.</h2>
There are several ways to improve online security and prevent hackers from accessing your personal information:
<ul>
<li>Use the latest security software and apps when using devices and browsing the internet.</li>
<li>Carry out regular risk assessments where you evaluate your security software.</li>
<li>Back up personal data to a reputable cloud service instead of keeping it on your device.&nbsp;</li>
<li>Don't share personal information with other people.</li>
<li>Create a security management strategy for your organization and share it with all team members.&nbsp;</li>
</ul>
Using a password manager is another way to stay safe online. The best ones encrypt your online passwords so hackers can't access these credentials, and you can keep passwords in a secure cloud-based vault and not have to remember them. There are various password managers online, including free ones available through most internet browsers, but not all tools are the same.&nbsp;
If you work alongside a team, consider TeamPassword. It's the&nbsp;<a href="https://www.teampassword.com/" target="_blank" rel="noopener">password manager for teams</a>&nbsp;that require world-class security and performance. This all-in-one password solution helps teams like yours store, manage, and share passwords in the safest way possible.&nbsp;

<h2>How Can TeamPassword Help?</h2>
TeamPassword prevents hackers from stealing your organization's most sensitive data with an incredible range of password management features. Enterprises of all sizes use TeamPassword to manage passwords, including tech startups, digital marketing agencies, creative agencies, and software and development teams.
Here are some&nbsp;<a href="https://teampassword.com/features" target="_blank" rel="noopener">TeamPassword features</a>&nbsp;that prevent situations involving a stolen password:
<ul>
<li>Random password generation that creates unique passwords for websites.</li>
<li>Two-step password verification.</li>
<li>Activity and logging tools so you can discover who has access to password management features.</li>
<li>Secure encryption technology.</li>
<li>Email notifications about password management actions.</li>
<li>Passwords stored securely in one place. </li>
</ul>
<h2>Final Word</h2>
If you're looking for the answer to the question, "Have I been hacked?" it's difficult to know for sure. Preventing hackers from compromising your data in the first place provides a better resolution. TeamPassword lets you store and manage passwords in a secure environment and minimize the effects of a stolen password so you can avoid hackers stealing your data and continue to collaborate on team projects.&nbsp;
With features like password encryption, two-step authentication, and random password generation, TeamPassword is the best password management solution for teams that want to improve online security.&nbsp;<a href="https://app.teampassword.com/dashboard#signup/testimonial" target="_blank" rel="noopener">Sign up for a free trial</a>&nbsp;now.

Have I been hacked? Here's how to check if you have and learn how to stop hackers from stealing your data. | TeamPassword Blog

Have I been hacked? Here's how to check if you have and learn how to stop hackers from ...

Have I Been Hacked? How to Know for Sure.

Password encryption is essential to store user credentials stored in a database securely. Without password encryption, anyone accessing a user database on a company's servers (including hackers) could easily view any stored passwords.
Even a strong 32-character password created using a <a href="https://teampassword.com/password-generator">secure password generator</a> is useless without password-encryption! If someone can read your password on a server, they can use it simply by copy/pasting it&mdash;no matter how long or complicated the password might be!
Encryption scrambles your password before saving it on the server. So, if someone hacks the server, instead of finding password123, they find a random series of letters and numbers.
In this article, we're going to explore the world of password encryption, why <a href="https://teampassword.com/blog/tips-and-tricks-to-create-a-strong-password">strong passwords matter</a>, and how you can practice better password management!
<a href="https://app.teampassword.com/dashboard#signup/testimonial">TeamPassword</a> is the password management solution for small businesses! Create, store, and share login credentials safely with employees, contractors, and clients. <a href="https://app.teampassword.com/dashboard#signup/testimonial">Sign up for a 14-day free trial</a> today!
&rlm;&rlm;&lrm; &lrm;[Table of Contents]
<ul>
<li><a href="#understandingpasswordencryption" rel="follow">Understanding Password Encryption</a></li>
<li><a href="#howdoespasswordencryptionwork" rel="follow">How Does Password Encryption Work?</a></li>
<li><a href="#5commonpasswordencryptionmethods" rel="follow">5 Common Password Encryption Methods</a></li>
<li><a href="#whystrongpasswordsmatter" rel="follow">Why Strong Passwords Matter</a></li>
</ul>
<h2 id="understandingpasswordencryption">Understanding Password Encryption</h2>
To explain password encryption effectively, we must first grasp the language. Several terms might be unfamiliar, so here is a quick intro to password encryption terminology.
<ul>
<li style="font-weight: 400;" aria-level="1">Key: Used to lock and unlock passwords using a random string of bits. You get private and public keys that crypt and decrypt data differently, but we won't get too deep in the weeds with keys!</li>
<li style="font-weight: 400;" aria-level="1">Bits: A logical state with one of two possible values, including 1/0, true/false, yes/no, or on/off as typical examples.</li>
<li style="font-weight: 400;" aria-level="1">Block (block cipher): A deterministic algorithm operating on fixed-length groups of bits, called blocks.</li>
<li style="font-weight: 400;" aria-level="1">Hash function: The algorithm that uses the key to create password encryption and decryption. A hash function is essentially a piece of code that runs every time someone saves a password or logs into an application.&nbsp;</li>
<li style="font-weight: 400;" aria-level="1">Hash: A random series of numbers and letters representing your password. The hash function uses your hash instead of the raw password for authentication.</li>
<li style="font-weight: 400;" aria-level="1">Salt: Additional letters and numbers appended to the hash</li>
</ul>
&rlm;&rlm;&lrm; &lrm;
<h2 id="howdoespasswordencryptionwork">How Does Password Encryption Work?</h2>
When you save a new password, a hash function creates a hash version and saves that on the server.&nbsp;
Every time you log in using your password, the hash function recreates the hash to see if it matches what's stored. If the hashes match, the algorithm passes the authentication and logs you in.&nbsp;
For example:
<ul>
<li style="font-weight: 400;" aria-level="1">Original password: Pa$$w0rd123</li>
<li style="font-weight: 400;" aria-level="1">Hashed password: 6AF1CE202340​FE71BDB914AD5357​E33A6982A63B</li>
</ul>
While this might seem secure, simple hashed passwords aren't hack-proof.
The hash function only creates a unique hash for each password, not each user. So, if multiple users have the password, Pa$$w0rd123, the hash will be exactly the same.
To overcome this encryption vulnerability, engineers salt passwords so each hash is unique, even if the passwords are identical.
<h3>How Salt Works</h3>
A salt appends a unique value of 8 bytes (16 characters) to the password before the hash function creates a hash. This way, even identical passwords are unique before the hash function.
For example:
<ul>
<li style="font-weight: 400;" aria-level="1">Two identical passwords: Pa$$w0rd123</li>
<li style="font-weight: 400;" aria-level="1">Salt value one: E1F53135E559C253</li>
<li style="font-weight: 400;" aria-level="1">Salt value two: 84B03D034B409D4E</li>
<li style="font-weight: 400;" aria-level="1">Password one before hash: Pa$$w0rd123E1F53135E559C253</li>
<li style="font-weight: 400;" aria-level="1">Password two before hash: Pa$$w0rd12384B03D034B409D4E</li>
<li style="font-weight: 400;" aria-level="1">Password one hashed value (SHA256): 72AE25495A7981​C40622D49F9A52E4F15​65C90F048F59027BD9​C8C8900D5C3D8</li>
<li style="font-weight: 400;" aria-level="1">Password two hashed value (SHA256): B4B6603ABC670​967E99C7E7F1389E40​CD16E78AD38EB1468E​C2AA1E62B8BED3A</li>
</ul>
&rlm;&rlm;&lrm; &lrm;
<h2 id="5commonpasswordencryptionmethods">5 Common Password Encryption Methods</h2>
<h3>1. Data Encryption Standard (DES)</h3>
While applications no longer use Data Encryption Standard (DES), it's important to mention this password encryption method because of its history and influence on more secure modern standards.
IBM developed DES as a 56-bit encryption technology in the early 1970s. The NSA adopted and improved DES before it was approved worldwide as the encryption standard.
However, since the late 70s, hackers have been able to break DES encrypted passwords. In 1999, ethical hackers managed to break a DES key in under 24 hours.&nbsp;
To make DES more secure, engineers created Triple DES and later Advanced Encryption Standard (AES), which we still use today.
<h3>2. Triple DES</h3>
Triple DES uses three 56-bit keys (blocks) to create 168-bit encryption (some security experts argue that Triple DES is only 112 bits strong). Although Triple-DES is slowly being phased out, many financial institutions still use it to encrypt ATM PINs.
<h3>3. Advanced Encryption Standard (AES)</h3>
AES is the new encryption standard&mdash;trusted by the United States Government and many other prominent organizations globally. At 128 bits, AES is sufficiently secure, but most organizations prefer heavy-duty 256-bit encryption.
At <a href="https://teampassword.com/security">TeamPassword</a>, we use 256-bit encryption to store passwords, ensuring the highest levels of security for our clients. We're also a <a href="https://teampassword.com/security">secure hosting provider</a> holding multiple security accreditations.
Hackers can only break an AES encrypted password through a brute-force attack&mdash;trying password combinations to find the right one.
To counter brute-force attacks, applications will lock an account after a certain number of attempts or use tools like Google's reCAPTURE.
<h3>4. Blowfish</h3>
American cryptographer, Bruce Schneier, designed Blowfish in 1993 as an antidote to the weak DES encryption. Blowfish uses a 64-bit block and variable key length of 32 to 448 bits.
Although Blowfish is more robust than its DES predecessor, the 64-bit block is still vulnerable to attacks, most commonly birthday attacks&mdash;a cryptographic attack that exploits the mathematics behind the algorithm.
To solve Blowfish vulnerabilities, engineers created Twofish in 1998 (128-bit blocks with 256-bit keys) and Threefish in 2008 (256, 516, 1024-bit blocks with 256, 516, 1024-bit keys).
<h3>5. Rivest-Shamir-Adleman (RSA)</h3>
RSA is one of the oldest and widely used to transfer data securely. The encryption works with two keys, two large prime numbers, and an additional auxiliary value.
Due to the complicated encrypting and decrypting process, there is no known method for breaking RSA encryption.&nbsp;
Although widely used for transferring data, RSA is slow and not suitable for password encryption.
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<h2 id="whystrongpasswordsmatter">Why Strong Passwords Matter</h2>
Password encryption can only prevent criminals from viewing saved credentials stored on a server&mdash;but cannot prevent hackers from guessing weak/commonly used passwords. If you <a href="https://teampassword.com/blog/colonial-pipeline-ransomware-attack-dont-reuse-passwords">reuse the same password for multiple accounts</a>, this also puts you at risk!
Encryption is most effective when users create robust, unique passwords for every account. For example, a random 32-character password with letters, numbers, and special characters hashed and salted is near impossible to guess or decode, even using a computer!
In another scenario, let's assume you have a strong 32-character password, but you use it for every account. If hackers manage to steal that password, they have access to every account using the same credentials! Your strong password is effectively useless.
<h3>Improving Your Password Management</h3>
Now that you understand password encryption and the associated vulnerabilities, you can see why strong passwords are essential.
Effective password management is crucial to protect yourself against cyberattacks or in the highly likely event of a data breach where hackers steal your credentials.
Criminals are after the low-hanging fruit&mdash;people who use weak passwords!
5 tips for creating stronger passwords:
<ol>
<li style="font-weight: 400;" aria-level="1">Create strong passwords for every account. The easiest way to do this is using a password generator. <a href="https://teampassword.com/password-generator">TeamPassword has a free password generator</a> anyone can use to create passwords from 12-32 characters using uppercase, lowercase, numbers, and special characters. We recommend creating passwords as long as the application will allow.</li>
<li style="font-weight: 400;" aria-level="1">Never create passwords shorter than eight characters, with 12 being our recommended minimum.&nbsp;</li>
<li style="font-weight: 400;" aria-level="1">Never reuse the same password for multiple accounts.</li>
<li style="font-weight: 400;" aria-level="1">Never create passwords with your name, family member's names, or pet's names. With social media, this information is freely available. Criminals can add those names to algorithms for brute-force attacks.</li>
<li style="font-weight: 400;" aria-level="1">Don't store passwords in digital notepads or spreadsheets. We recommend using a <a href="https://app.teampassword.com/dashboard#signup/testimonial">password manager like TeamPassword</a> to create and store your credentials.</li>
</ol>
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<h2>Why You Need a Password Manager like TeamPassword</h2>
We have so many accounts these days; it's almost impossible to create unique, memorable, secure passwords for each one. A password manager solves this problem.
Instead of remembering the credentials for every account, you only need to memorize the one to log into your password manager.&nbsp;
TeamPassword keeps all of your credentials safely stored and encrypted, so you never have to memorize a password again. Instead of entering your credentials, you use one of TeamPassword's browser extensions (Chrome, Firefox, and Safari) to log into accounts.
<h3>Built for Teams</h3>
TeamPassword's best feature is its ability to share credentials with team members securely. Instead of sharing passwords, you provide access through TeamPassword.&nbsp;
Employees <a href="https://app.teampassword.com/dashboard#signup/testimonial">use TeamPassword</a> to log in, meaning you never share raw passwords&mdash;no more worrying about unauthorized access or sharing.
You can create groups in TeamPassword to share access with employees, clients, contractors, and freelancers. When someone no longer needs access, remove them from the group with a single click. No need to change passwords every time someone leaves a project!
<h3>Built-In Password Generator</h3>
TeamPassword features a built-in secure password manager so you can create robust passwords for every account. TeamPassword also ensures you never reuse the same credentials so that you won't fall victim to credential stuffing attacks!
With a built-in password generator, you can change passwords regularly, and TeamPassword will update the new credentials for all users!
<h3>Monitor Login Activity</h3>
TeamPassword's activity log keeps track of every action across all of your accounts&mdash;logins, password changes, new team members, sharing access, and more.
You can also set up email notifications for all TeamPassword actions so that you can react fast to any suspicious activity.
<h3>Get Your Free TeamPassword Trial</h3>
Password encryption is not enough to protect your business from password vulnerabilities! You need a robust password manager like TeamPassword to create, store, and share credentials securely.
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<a href="https://app.teampassword.com/dashboard#signup/testimonial">Sign up for a 14-day free trial</a> and let TeamPassword secure your company's digital assets.

Password encryption is the number one component of password security. TeamPassword encrypts passwords with state-of-the-art technology to keep passwords safe.

Password encryption is the number one component of password security. TeamPassword encrypts passwords with state-of-the-art technology to keep ...

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