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10/26/10--09:16: How To Start Your Small Business the Right Way (chan 1625027)

As a small business owner, you have already taken the steps you need toward financial independence and personal growth. Many people dream of being your position, of being their own boss and living outside of someone else’s cubicle. However, you are probably fully aware that owning your own business is not all stars and rainbows, it’s back breaking work at times.

You don’t want to be statistic. You don’t want to be just another small business that never took off. Here are a few ways to avoid letting your small business sputter out.



Make Your Deadlines


Generally everything tied to your small business comes back to you as a person. It is so important to keep your word when it comes to delivering promises to clients or investors. Even if something goes wrong and you can’t make a deadline, you need the initiative and integrity to admit to it, and solve the problem.



Aggregate Communication


As a new small business owner, you need to be in constant communication with your employees. The tasks they are assigned need to be completed according to your guidelines and if they aren’t, it comes right back to you, your image, and your business. By having tools like social media networks to set up conference communication, you can encourage your employees to work together and discuss ways to improve efficiency.

Set up a private Facebook group, Twitter account, whatever, to encourage fast and easy communication. By having access to your employees (and giving them access to you), you will save time and energy, as well as avoid expensive travels costs.



Use Marketing Tools


You may have set up a small business that seems like a phenomenal idea. Who wouldn’t want your product? However, you can’t just expect your business to take off without grinding away at making it exist in the bigger picture.

You constantly need to be marketing your business, but how do you do that without being immediately labeled as a spammer? Use social media. Use it genuinely. Ask your followers or friends genuine questions about what they would want from your product. Ask people who have your product, why they are satisfied with it and how you can improve it?

Genuine communication is the number one marketing strategy in the world of social media. There is no better way to spread viral communication than social media, and it doesn’t work if you are labeled as just another advertisement.

Distributed by Viestly






10/27/10--08:45: Why Does My Business Need A Website? (chan 1625027)

All businesses need an online presence. The facts are as simple as that. Consumers are increasingly turning to the Internet to find resources about services and products. They can shop for the best prices, brands, and reviews.

Over 200 million people in the U.S. use the Internet. About 70% of these people use the Internet to shop online. If you are selling a product or a service, especially as a small business, it is a death sentence if you do not have a business website.

You have the opportunity to have access to 140 million American online shoppers. This is one of the best (and probably the only way these days) ways to fight your way into the national market as a small business.



What is a good website?

As an entrepreneur and small business owner, your biggest struggle will be establishing credibility and differentiating yourself from your competitors. Having an effective business website is one of the most powerful tools you can use to set yourself apart as a trustworthy and valuable business.

Use your website to share valuable information like your mission statement, company history, customer testimonials, and plans for the future. Your website should be the primary place for your customers to visit to learn more about you. By also having a presence in the social media world, you also give yourself greater opportunity to spread word-of-mouth communication between consumers. You can’t have a social media presence without having a professional website to send people to.

Your website and social media efforts can reduce your business and marketing costs. You give people across the nation access to your products even if you are a small standalone store, inaccessible to those who cannot travel to you.



How to use your website


Because your website is a source of information, it gives you the ability to answer customer questions and continuously improve your product or service. Have a blog or forum on your website where you customers can submit inquiries and you can answer them in blog form.

Having a website with as much effective and useful information possible will reduce the amount of time it takes to educate your target market about your product or service. Use your website as your number one sales person.

Distributed by Viestly






10/28/10--08:20: The Most Important Things To Know About Networking (chan 1625027)

I recently attended a seminar put on by ESPN and a few hiring managers. The team of people was invited by the University of Florida to talk to students about potential career opportunities with ESPN and ESPN affiliates.

One of the main questions that came up during the seminar was about networking. A student asked “what advice do you have for networking, what can we avoid, and what can we do to maintain good contacts with people in your type of industry?”

This question immediately had the ESPN representatives chuckling, and the Production Manager stood up and said that the idea of networking is plagued by several misnomers. Networking is not simply just collecting business cards for future referencing, but it is about building genuine relationships.



Networking for business

This idea really had me thinking because I consistently write about how social media marketing and scrupulous business practices have a tendency to revolve around the development of relationships. So I tuned in a little closer.



“Networking is about building long term relationships, not pestering a mentor, a client, or a potential partner all the time…if you are communicating with someone more than once a quarter, it may be too much," she said.



I find this idea extremely interesting because due to today’s technology, it is so easy to communicate with people anytime, anywhere. So keeping in touch once per quarter seems like I would be easily forgettable.

It comes down to this: it’s not about how much you communicate with an individual; it’s about how you do it. What kinds of questions do you ask them? How much do you know about their field of interest before you ask your questions? Be honest, genuine, and professional. Networking is about building relationships, yes - but professional relationships.



What not to do


Don’t pitch too early. Whether you are looking for a new position or trying to sell a new product, the exchange of business cards is not permission to launch into an over practiced sales pitch. You lose the trust (and quite frankly the interest) of whomever you’re speaking to.

Don’t assume closeness. Relationships take time to build and nurture. Think about the relationships you have with your friends, although you may have felt an immediate connection, it took time to build trust and understanding. Trying to latch on to a connection too soon can send them running.

Distributed by Viestly






10/29/10--09:24: When To Use Facebook As A Small Business (chan 1625027)

Vitrue, a company that specializes in social media marketing and expertise for brands and companies, recently published a study that explored the depths of Facebook and its benefits.

The white paper, called “Managing Your Facebook Community: Findings on Conversation Volume by Day of Week, Hour and Minute,” analyzes Facebook posts from August 10, 2007 to October 10, 2010. The study used over 1,500 selected streams and observed over 1.6 million posts and 7.56 million comments. These data were used to show when Facebook posts and comments were happening.

This insight will give any small business owner the know how of when to engage with their consumers.

Here are some of the most applicable findings:


• The three biggest spikes of user activity occur on weekdays at 11 a.m., 3 p.m., and 8 p.m.
• The biggest spike of user activity 3 p.m. on weekdays
• Wednesday at 3 p.m. is the consistently the busiest period of user activity
• Sunday is the slowest day of the week for user activity
• Morning posts are 39.7% more effective for user interaction

What can you learn from this?

Essentially, posting comments and updating your business’s Facebook page in the morning is going to be more effective than posting at any other time. Vitrue also notes that publishing at the top of the hour (:00 to :15) sees more interaction and engagement than posts at any other time.

This makes perfect sense if you take into consideration who is looking at your Facebook posts. People in a working environment will most likely browse through Facebook quickly before some important obligation at the top of the hour.

So, as a small business, use your Facebook wisely. Post new information in the morning, on the busiest days (Wednesday is a huge day), at the top of the hour. Social media marketing is a great way to gain traffic and customers. If you use it the right way, social media can transform your revenue stream.

Distributed by Viestly






11/01/10--08:37: How To Make Your Small Business Look BIG (chan 1625027)

Right now is the best time to start a small business. There is so much room for growth and opportunity these days, even though the economy is down and everyone’s cutting budgets. As a small business, you want to grow your customer base. The best way to do it is to make your customers think you’re a much bigger player than you really are.

You can make your business seem like a big deal with a small budget. There are tools you can use to help market your business and position yourself in a consumer’s mind as a trustworthy brand name. Take advantage of these tools while the demand for personal advertising is high. They will help with your level of productivity, your budgets, and your brand equity.



Mobile advertising


If you can, find a simple company that provides service-based software so you can start a mobile advertising campaign. Some great resources I’ve found and have seen recommended are Fanminder and Socialight. These sites give the small business owner the ability to grab a hold of mobile marketing. Having access to mobile marketing (within your budget of course) will make your small business look like a big company.



Social Media Marketing


Social media marketing is the number one way to market your product or service and cut down on marketing costs. Also, larger companies use companies to involve their consumer base. By having contests (NASA’s Tweet-ups, Pepsi’s refresh campaign), larger companies are able to make themselves look important, and in demand. Have contests and offer prizes, there’s no better way to involve consumers than to offer them incentive to pay attention to you.



Online Survey Software


There are several free and cost-friendly online survey websites and resources. Sites like QuestionPro allow you to create dozens of surveys and question-type. This will give you an affordable way to measure customer loyalty and the effectiveness of your campaigns.

Distributed by Viestly






11/02/10--08:12: The Trick To Making A Sale - Engage With Your Customer (chan 1625027)

Selling is a process, not an event. The ability to make sales takes the building of relationships and establishing credibility in the minds of your consumers. If you don’t take the time to let your customer feel a certain comfort zone with you, you will undoubtedly lose the sale.

The art of engaging a customer takes practice, time, and effort. Many experts say it can take anywhere from seven to 12 contacts with a customer before he or she is ready to buy. Each of these contacts should give the consumer a genuine reason why your product will make his or her life better.

Here are 4 tips from Joanna L. Krotz, a writer for Microsoft Business.



1. First, define your prospects.

Selling professional services requires a different scenario. "It's a more complex sale. You need to have a comprehensive conversation and touch one customer many times," says New York sales trainer Wendy Weiss. She advises skipping e-mail and going straight to human-to-human contact.

Your goal is to contact as many prospects as possible. If you have a list of 200 or so, leave your information, move on and circle back. But if your industry is limited to a half-dozen or so big fish, keep making contact until you establish a relationship. Doing your homework is a must. Research your industry and prepare your list or database of high-level targets before you start.



2. Then calculate the costs.

For online marketing, that means actual conversion rates, not click-throughs to your Web site. For offline sales, it means analyzing the numbers so you know exactly how much you must invest — upfront — before you bank one check or ring up one sale.

No question, this takes sustained effort. But think it through. If you send out 100,000 e-mails and get 10 sales in return versus mailing 10,000 postcards that generate 1,000 sales — the higher postage and print costs probably provide the better the ROI. Or, set up a one-two punch that combines two channels. Just because a channel is cheap to use doesn't make it cost-effective. Many marketers like to send early e-mail notices or offers to "warm up" prospects.



3. Know that effective messages match the medium.

Before choosing any channel, create a consistent sales message. This should be your product's point of difference, which must be clearly communicated in any and all contacts. What's your sales story? What's your response to every customer objection? Why should anyone buy your product? Even commodity products, such as janitorial services or fast food, must have a story that makes them stand out, whether it's an emphasis on experience, reliability, convenient locations or better service. Then adjust the message so it's appropriate for the channels you choose.

Distributed by Viestly






11/03/10--08:30: 3 Ways To Start A Customer Loyalty Campaign (chan 1625027)

There are several factors that separate successful businesses from those that break even. One of these aspects seems to stand out the most. The most successful businesses have customers that keep coming back, they have a strong customer base. Their lifeblood is customer loyalty.

While short-term sales may show profits, they are unpredictable and require a lot of initial work with no follow up. Long-term sales created by customer loyalty campaigns can actually show more profit in the end, and it is a more consistent and steady flow of income for the business owner.

Entrepreneur.com published a great post on how to retain customers by developing a customer loyalty program for your business.

Follow these tips to build a successful program for your business:



1. Don't Abandon Service for Savings Alone

Discounts and savings are on the minds of most consumers, yet don't overlook other major customer-pleasing enhancements, such as quick or better service or improved customer handling. New research from Genesys and analysts at Datamonitor/Ovum shows nearly two-thirds of consumers have ended a relationship with a company due to customer service alone, and the majority of them take their business to a competitor. Your best customers want personalized service and support that's accessible instantly--often by phone. This is where your small business can excel over larger competitors whose customers may feel lost in a maze of automated self-service.



2. Make Communication a Two-Way Street


With the cost efficiency of e-mail, it's no wonder it's the workhorse for the vast majority of loyalty campaigns. Printed mailings and statements are also used by many marketers to remind customers of benefits and rewards. And corporate websites are becoming increasingly important components in loyalty campaigns. For many types of businesses, it's smart to build interactivity into your company's site with customer generated content, online customer service, or live chat with a representative. You can also create a site specifically to enhance customer relationships and build loyalty.



3. Avoid Loyalty Turnoffs


Too much spam and junk e-mail top the list of what consumers don't like about loyalty and rewards program membership. While most member communication is monthly according to the CMO Council report, 20 percent of loyalty marketers interact with members on a daily, weekly or biweekly basis. How often do you communicate with your best customers? Daily or even weekly e-mails may be too frequent for many members, particularly if the offers or other communications are perceived as not relevant to their business or personal needs.

Distributed by Viestly






11/04/10--08:27: Why Google is Your Best Friend (chan 1625027)

Google has monopolized the advertising industry. It’s true. If you want to find a product, service, image, or essentially any information you would ever want to know that’s not in front of you, what do you do? You “Google” it.

Google is not just a search engine anymore, it’s a full service advertising agency – a billboard for companies, if you will. Google (as used in the first paragraph) is now an action verb in the English language. It is a solution to your small business problems.

So how can you make Google your best friend? There are very specific techniques you can use to harness the power of search engines, and use them to help your small business grow and prosper.



Keywords

Good content is the most important aspect of making your site visible on Google. In order to optimize your website for the search engine’s algorithms, you need to have specific words within your website’s content that attract the search engine’s attention.

Your content should always follow these rules:


• Keep it simple, no fancy formatting
• Try to cover the least amount of topics per page (if you need more topics, use more pages)
• Use the strongest keywords you can (words or phrases that directly related to your product or service)
• Don’t repeat keywords unnecessarily (avoid getting marked as spam)

Backlinks

Another very important aspect for search engine optimization techniques are the links on other pages and sites that reach back to your website. The more you have, the higher your page rank is. The higher your page rank is, the higher you appear on Google. The higher you appear on Google, the more credible and reliable you appear to the millions of people using Google to find a product or service like yours.

Post links on other websites (genuinely and with permission), link certain keywords and phrases on your blog posts back to your website. Having backlinks will not only improve your search engine rankings, but it will also drive people who are visiting other channels back to your website.

Distributed by Viestly






11/04/10--22:57: 3 Steps to Starting A Successful Online Business (chan 1625027)

There are so many opportunities out there for aspiring entrepreneurs. Even in today’s economy, when everyone is tightening their belts and struggling through budgeting options, there are ways to prosper. It’s not a fast track however, any small business owner can tell you that.

Follow this advice from Small Business How To and be on your way to starting a profitable online business. Grow and turn difficult times into profitable times:



1. Businesses can be just as successful during economic downturns as economic upturns.

The economy isn’t like history. History is linear, which means it travels in a line. It might repeat itself in some way, but the players involved are always different. The economy is circular. It goes up, or down, but it always travels in a circle. With every economic downturn, there will always be an upturn eventually because the economy changes. The secret to surviving an economic downturn is to market more. The more you market, the more you put your products and services in front of consumers. The more targeted your prospects, and the more they are exposed to your products, the more likely they are to buy.



2. With the Internet, it’s very cheap to get started in business.

You don’t need a whole lot to start a business online: a computer and an Internet connection. If you decide to build a website, you’ll need a content management system and a marketing strategy. Since there are so many ways to promote your business for free, you don’t need a marketing budget, just a little time to promote. Tools like social media marketing can help you get your name out there and start building a customer base.



3. You don’t need to be an MBA to get started.

Someone once said that all you have to do is read three books on a topic to become an expert. Now I’m not sure how true that is, but reading about online business is a great way to get started. There are tons of articles, free ebooks, and other resources available on the Internet. The secret here to finding the best information though is to narrow your search. Be very specific when searching so you find the right information.

Distributed by Viestly






11/08/10--08:19: What is the Difference Between Business Success and Failure? (chan 1625027)

There really is no secret formula to follow to achieve business success. Success can come from a combination of many things like hard work, good networking, and even luck. However, the more we study small businesses that do succeed, the more we realize that the successful ones have a lot in common.

Small Business Trends published a blog post based on the new study released by the Kauffman Foundation called The Making of a Successful Entrepreneur. It has great insights into what successful entrepreneurs and small business owners have in common. It can show you what most affects the success or failure of a startup business.



Survey Results


Here are a few key points from the survey as according to Small Business Trends:

The survey polled 549 founders of successful businesses in high-growth industries, including aerospace, defense, computing, electronics and health care. Here’s what they said:

Their most important success factors: previous work experience, learning from their successes and failures, a strong management team and good fortune;


• 98 percent said prior work experience was an “important” success factor; 58 percent said it was “extremely important;”
• 40 percent said learning from failure was extremely important;
• 82 percent said the management team was important; 35 percent said it was extremely important;
• 73 percent said luck was an important factor;
• Professional networks were key to success for 73 percent of entrepreneurs surveyed, while 62 percent said personal networks were important;
• 68 percent said availability of financing/capital was important, but only 11 percent had received venture capital, and just 9 percent had obtained private/angel financing.

What about the most common barriers to entrepreneurial success? The one most respondents cited (a whopping 98 percent of them) was the failure to take risk. Others included:


• Not putting in the time and effort required (93 percent)
• Difficulty raising capital (91 percent)
• Lack of business management skills (89 percent)
• Lack of knowledge about how to start a business (84 percent)
• Lack of industry and market knowledge (83 percent)
• Family or financial pressures to hold a traditional job (73 percent)

Distributed by Viestly






11/09/10--07:47: How is Social Media Changing Customer Relationship Management? (chan 1625027)

Social customer relationship management is the evolution and progression of customer relationship management. It is a strategy that uses social media to engage with customers, with increased sales being a side effect from these interactions.



How Has CRM Changed?

Traditional CRM is a combination of sales, marketing and advertising, and support based business tools that work as one-way communication with the goal of completing a transaction with the customer, and keep that customer coming back to buy more.

The difference between traditional CRM and social CRM is the fact that the customer has the ability to communicate his or her wants and needs to the company. As Jacob Morgan of Social Media Examiner wrote in his review of Social CRM:



“Instead of marketing or pushing messages to customers, brands now talk and collaborate with customers to solve business problems, empower customers to shape their own experiences and build customer relationships, which will hopefully turn into customer advocates.”





Why Does This Work?

Using social media to genuinely engage with customers and solve business problems works because the average customer is changing. More and more people actually want to see brands on social media sites, providing product and service information.

60% of Americans already regularly interact with companies on social media sites (Cone Business in Social Media Study, 2008).

Consumers are using social media to discuss products and services, empowering themselves with information that used to come from the one-way communication provided by marketing and advertising services.

Social media is also all encompassing in a sense because you have an almost unlimited reach when it comes to your potential customer base. With 500 million members on Facebook alone, exposure is your greatest tool as a business.

So use social media marketing to your advantage, but instead of simply just providing information on your product or service, talk to your customers. See who they are and what they like and what they need from you. Collaborating with your customer base to improve products and services will not only gain you customer loyalty, it will increase your visibility, credibility, and brand equity all together.

Distributed by Viestly






11/10/10--09:10: Why You Should Use Web Analytics (chan 1625027)

Web analytics are tools you can use to enhance your online business. Using web analytics can save you time and money in terms of tracking your consumer behavior and preferences. If you have an online business, the most important aspect of keeping up with trends is paying attention to consumer activities on your website.



Why Use Web Analytics


Web analytics are an aggregation of statistics and information based on visits to your website. Web Analytics allows a user to monitor the length of time a visitor browsed through the user’s site, who the viewer is, in addition to the keywords the visitor used to access the site, and what source they came from.

If you use web analytics, you have the power to enhance your search engine optimization techniques. By understanding the keywords people are using to search for your product or service, you can revamp your web content and make it more accessible. You can even use these tools to write ads that better target your audience.

With the power to see how many times visitors visit your site and which pages are more popular than others on your site, you gain great insight and feedback about what your visitors want. This will undoubtedly help you formulate a sales plan that caters almost exactly to what your customers want.



Using Web Analytics for Marketing


You can now derive your online marketing strategy from something more tangible than conventional market research. With Web Analytics, you can monitor viewers’ unconscious preferences as well as their deliberate choices. Also, with a solid picture of what your visitors’ like and dislike, you can adjust your marketing plan already in place to retain returning customers and build a loyal client base.

Google Analytics is a great tool to achieve all of the results Web Analytics can give you. Using these tools will open a door for your online business that will save time, money, and painstaking efforts.

Distributed by Viestly






11/11/10--09:00: 6 Qualities You Need to Succeed in Business (chan 1625027)

Those of you interested in venturing out into the business world on your own will be faced with many challenges. You may be wondering if you’ll even make it. It’s a huge risk but truth be told, it’s absolutely worth it. Owning your own small business can be one of the most rewarding things you’ll ever do.

So what does it take to be a successful entrepreneur? Passion is great, but there are several other qualities you need as a person, before you can succeed in business.



A Knack For Solving Problems


Most entrepreneurs start their businesses by finding a need or a problem in the market, and satisfying it. By solving consumer problems, you contribute the community – which is the most profitable venture out there.



Sheer Independence


You have to be able to do things on your own. Entrepreneurs thrive when faced with intense responsibility and workload. They can manage their own time, and love being their own boss.



Hunger for Hard Work


The beginning stages for entrepreneurs include long hours, little pay, stress, and frustration. They focus on accomplishing tasks and getting work done before anything else.



Confidence


All entrepreneurs exude a level of self-confidence that earn them respect and recognition. Having confidence in yourself and your abilities will take you farther in life than any other quality. You will never out-perform your self-belief.



Discipline


This is a no brainer. Distractions are not an option. Successful entrepreneurs know to resist temptation when it comes to unimportant things. You need to be able to focus on the most essential tasks, and save the less important things for later when you have time.



Openness to Change


The economy is changing, the market is changing, consumers are changing, and companies are changing right along with them. Any successful entrepreneur understands the critical need to “go with the flow,” and have the ability to change as their business grows.

Distributed by Viestly






11/12/10--07:50: How To Get Your Employees to Use Social Media (chan 1625027)

Most small businesses have limited resources. So when it comes to cutting budgets, it’s important to do it wisely. One great way to cut marketing costs while still being effective in getting your business’s name out there is to encourage your own employees to amp up their social media efforts.

These techniques could either be a blog, a Facebook page, and/or a Twitter account. Having employees use their own personal accounts to advocate to their peers and other consumers about your business is a fantastic way to generate viral marketing while saving you as the business owner, some major expenses.

Bloomberg Businessweek posted 5 tips to get your employees on the social media bandwagon:



1. Hold training/information sessions.

Explain to employees why social media engagement is important. Give examples of the value it brings to the company in terms of return on investment. Explain search engine optimization (SEO), brand awareness, and the leads that can be generated.


2. Seed topic ideas. Hold brainstorming sessions.

Circulate questions about topics to facilitate new suggestions. Share links to recent industry news. Encourage employees to develop ideas for content, based on personal interests and professional experience. It shouldn't always be about the company. Online content can be used as a way to provide leadership on industry issues, as well to communicate company culture and personality.



3. Identify Champions.

Assign a group of individuals to a social media task force. Their job may be to assist in getting other employees to contribute, setting objectives/metrics, defining SEO keywords, and developing a schedule and ideas for content.



4. Leverage existing opportunities.

Content is everywhere; employees should think critically about what they already have available to them, including training presentations, customer stories, meeting notes, research, and statistics.



5. Help employees feel invested.

For small businesses that are struggling to spark employee interest, making contributions part of their job objectives and even tying them to bonuses can help. A photo and name attached to individual contributions will give employees visibility—and the exposure will motivate them to contribute more frequently and with greater quality.

Distributed by Viestly






11/15/10--08:56: How to Avoid Costly Business Mistakes (chan 1625027)

Everyone who starts their own business has made mistakes. There is absolutely no better way to learn. The more mistakes you make, the more you improve as a business owner and more importantly, as a person. Many small business owners make similar mistakes, so here are some ways to avoid making bad decisions that can cost you an unnecessary amount of time and money.

These tips are based off of Steve Pavlina’s “10 Stupid Mistake Made by the Newly Self-Employed.”



1. Sell to the right people


Try to sell to people who would actually use your product. While it may be exciting and you might want to push your product or service on anyone and everyone you talk to, avoid annoying friends, relatives, and new acquaintances. Don’t sell to people who simply do not need what you’re offering.



2. Don’t spend too much money


This is common sense really. Until you have steady cash flow, don’t spend your startup cash unless it’s an absolute dire necessity. “Your business should put cash into your pocket, so before you ‘invest’ money into it, be clear on how you’re going to pull that cash back out again,” Pavlin says.



3. Don’t spend to little money


I’m not contradicting myself when I say don’t spend too little money either. There is a balance between cautious, conscious spending, and frugality to the point where it interferes with your level of efficiency. Get your money’s worth when it comes to long-term purchases, like your business website.



4. Be real


Please avoid putting on a fake front. Number one, people can see right through it. Number two, it will earn you a poor reputation almost immediately. If you are running your business by yourself, don’t refer to yourself as “we.” When people ask about your business and product, you need to be honest. You should be charging prices that honestly reflect their value.

Distributed by Viestly






11/16/10--09:32: Why You Shouldn't Use Free Promotions (chan 1625027)

If you are a small business owner dabbling with your advertising and marketing strategy, you may be tempted to offer free products as promotions. While this can be a great idea to achieve short-term results, it can actually hurt your business in the long run.



Free can be dangerous


Offering something for free can train consumers to think that your offer does not have much value. In time, consumers might actually come to expect things for free. For example, remember the days when we were all happy to get a free standard cell phone after signing that dreaded two-year contract? These days, we have come to expect a free cell phone with every new contract.

Online businesses are starting to offer free shipping, which can cut seriously into their profits. Hotels offer free Internet service, etc. These things are going to become extremely difficult to charge consumers for because they have come to expect these commodities as “free.” These perks aren’t even free anyway, we pay for these commodities via other buried charges.



Free can be copied


If you are offering some sort of accessory, or supplementary product for free, your competitors are fully capable of offering it too—especially if you are successful. If you are gaining a lot of traffic and attention through your free promotions, your competitors won’t be far behind. What you think starts out as a transient tactical marketing strategy can actually bury you in the industry.

You don’t want to get caught in an industry albatross where you keep cutting prices to undermine your competitor and both of you end up losing an intense amount of money.

Offering products for free every once in a while (everything is okay in moderation), is fine. Whether it’s a free consultation or a free sample, it can be at your advantage to offer something for free as a kind gesture even.

However, offering anything for free requires a significant amount of discretion.

As Steve McKee from Bloomberg Businessweek said in his post:


“It's when you offer something for nothing as an enticement to buy that the danger sets in. If you try to fool your prospects by making your pitch about what's "free," you'll also be fooling yourself.”

Distributed by Viestly






11/17/10--08:50: 3 Things You MUST Do Before Creating A Marketing Strategy (chan 1625027)

There are several different marketing strategies you can use. However, for the sake of your small business budget, there are 3 very important strategies that help with organic traffic gain as well as giving your pocket expenses a break.



Step 1: Optimize Your Website


You need a base where people can search for your product, find you, and remain interested enough to order from your website. You truly will not be able to succeed in today’s market if you don’t have a website as your platform for transactions. Your website should in essence, run itself. With quality content, enough information, and the encouragement of feedback and conversation, you have the ability to invite people to learn more about your product or service – and buy it. Your site should have:


• Strong and well researched keywords
• Quality content that actually answers questions
• The use of meta tags and descriptions
• E-commerce capability

Step 2: Build Your Customer Base

Once you have your (quality) website up and running, it’s important to keep those customers coming back to you. One of the most basic marketing strategies you can employ is a subscribers list, or membership option. You can build a base of customers through an email list as one example, if your site has:


• A sign-up option
• A blog
• Newsletters and promotions to send to subscribers

Step 3: Maintenance

Once you have your quality website up and running, and a strong customer base with which you consistently interact, you need to be maintaining your website with fresh content. One great way to do this is to write blogs (daily!) and have them on your website and really anywhere else you can distribute them.

This helps with your exposure, search engine rankings, traffic, and credibility. The reason it helps with credibility is that it shows the initiative you have to answer customer questions and constantly provide fresh information. It shows that you are not all about the transaction, but more about the relationship you have with your customers.

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11/18/10--05:23: How To Trademark Your Business's Name (chan 1625027)

You have thought long and hard about your company name. Now that you’ve finally come up with one that suits you and your business, you should get it trademarked so that other businesses won’t register under the same name. Getting your small business name trademarked is a pretty simple process.

Many small businesses can even file an application online through the U.S. Patent and Trademark Office’s Web site. The whole process can take up to two hours, but you won’t even need help from a lawyer. You should receive a response to your application within about six months after filing.



Searching for trademarks


Before you begin the application process, try out the web site’s Trademark Electronic Search System database to see if the name you chose has been taken by any other company. Protection is granted to the first entity to use a trademark in the geographic region where it operates (it doesn’t matter if the mark is registered or not). If your mark uses a design element, you will need to use a design code to search for it. The web site has a Design Search Code Manual to help you with this process.



Fees and other information


Registering for an online trademark can cost between $275 and $325. You will need to provide very specific information such as:


• The categories of goods and services you’re using the trademark for
• Whether or not you have a design element included
• The date of the trademark’s first use in commerce

For online businesses, avoid registering your name with your web extension (.com or .net) unless you additionally register the domain name by itself. The reason for this is that it makes it very easy for other companies to register the same name simply with a different extension.



Types of Trademarks


There are two possible trademark formats:


1. Standard character format; or
2. Stylized or design format.

The standard character format should be used to register words, letters, numbers or any combination of these elements. This format does not make any claim to any particular font style, size, or color, and does not include a design element. If you register for a mark in the standard character format, you will get broad rights for use in any form of presentation of your trademark.

The stylized or design format, on the other hand, is appropriate if you wish to register a mark with a design element and/or words and letters that have a particular stylized appearance that you wish to protect.

The two types of mark formats cannot be mixed in one mark; do not submit a representation of a mark that attempts to combine a standard character format and a stylized or design format.

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11/19/10--05:46: How To Use Social Media For MORE Than Just Sales Leads (chan 1625027)

Social media can give a small business owner control of their branding. With the power to distribute your information on your terms, to the people you target, however often you want, at almost no cost, it’s like having a miniature marketing department right at the tips of your fingers.

Social media can give you as a small business owner much more than just sales leads. You can use the power of social media for various purposes like researching your target market, enhancing your level of customer service, and ultimately defining your brand identity.



The power of research


If you post a question on your Facebook status, chances are, someone is going to answer it. Now, imagine having a Facebook page for your business, say you own a coffee shop, and posting a question like “Do lines in coffee shops drive you crazy? What do you think a coffee shop can do to cut down lines and speed up service? Any ideas?” Just looking at the feedback you get can help you better understand what your consumer base wants, and can give you an idea of what direction you need to take your business in.



Customer service


In addition to learning about the opinions and thoughts of your customers, you can use the power of social media to better serve your customers. Assuming you already have a solid product and effective infrastructure in place, you probably already have some sort of customer service method. However, Facebook can just get you that much closer to your customer.

For example, a customer has ordered one of your custom tee-shirts that you sell, but something came up during the shipment and it’s now on back order. You can just mosey on over to their Facebook page and leave a message saying “your order is on back order and we’ll let you know as soon as we get it, we apologize for the inconvenience.” It's more intimate than a cookie-cutter email, and your customer now sees that you truly care about their satisfaction. Also, unlike emails, they have the option to message you back – the ultimate intimate feedback you need to improve your services.

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11/22/10--09:17: Top 4 Small Business and Entrepreneur Mistakes (chan 1625027)

Although there are plenty of stories out there that describe the overnight success stories of several entrepreneurs and small businesses, the likelihood of that is just minute. You need to be able to make the correct choices a long the way – and the way is long.

David Bakke, wrote a great post for Money Crashers about small business mistakes and the reasons why entrepreneurs fail. Listen to the mistakes that I found most helpful from his posts. Read them, study them, and avoid them. If you feel you are weak in any of these areas, fix it immediately because it could cost you your dream of being a successful small business owner.



1. Lack of Focus


I’ve seen a lot of aspiring entrepreneurs fail simply because they were “all over the place” with what they actually wanted to do. They tried so many different businesses in their first few years that they never got anything off the ground. A lot of this needs to be weeded out in your “pre-launch” process. That goes for both internet businesses and brick and mortar businesses. If you know you want to sell things on the Internet, do your research first as to exactly what you want to sell and how you want to sell it. Launching a website and then constantly changing the focus from selling cupcakes to selling screwdrivers to selling women’s lingerie is a sure way to be “finished” before you’ve even started.



2. Veering Away From Your Passion or Talent


You should really stick with what you are good at or what you love to do. Can you be successful being involved in something that you are not great at or feel strongly about? Absolutely, 100%. But, how dedicated are you going to be to that concept in the beginning? How likely are you going to still feel motivated after doing it for six months? How much easier would it be if you had chosen something you are great at or passionate about?



3. Impatience


You’ve got to make sure you do your due diligence and do the proper amount of research before starting. This goes back to my first point on focus. I’ve seen people dive in head first to areas that they knew little to nothing about, and the huge mistakes they made in the beginning were just too costly to overcome. Any successful entrepreneur will tell you that mistakes are going to be made along the way, especially in the beginning. Take these mistakes and learn from them. But, you need to be prepared enough so that you can avoid the huge, expensive mistakes that sometimes can sink your idea before it even has a chance to take off.



4. Too Hesitant


As mentioned in the prior section, before you start a new business, even if it is a passion of yours, there needs to be a certain amount of research that goes into it before taking the plunge. You won’t just wake up one day and boom, decide to start a business. This just wouldn’t be smart. There is always going to be a certain amount of risk and uncertainty in any new business that you forge. If you are not willing to assume that risk or simply don’t have the stomach for it, you’ll never succeed. 

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11/23/10--09:06: How To Hire The Right People (chan 1625027)

As a smaller business owner, you have a clear understanding of how difficult it is to find effective employees. As cautious as you try to be, you always end up with at least one employee that isn’t motivated, doesn’t work to full capacity, or simply doesn’t get it.

In addition, it costs you personally to commit to an employee’s salary and benefits. It’s frankly a waste of money to invest in an employee that doesn’t work to full capacity and it sends a poor message to your customers. The first problems to address are who to hire, when and where to find suitable candidates.



Hiring the right person


The most important aspect of hiring the right person depends on your product. You need a staff that can get the product or service to the market. Generally, high-level executives (like a vice president of marketing or sales) aren’t hired until the company has seen growth.

Also, only hire someone if you absolutely need the help. If you can outsource that position to a free-lancer for example, it would be extremely beneficial to you. If you can intelligently delegate work to the right people, you’re already on your way to having an efficient staff.

Focus on hiring flexible candidates that can function and thrive in a small environment. The best candidate only needs a few instructions and can apply their skills to various areas. Small businesses need these kinds of candidates because there aren’t necessarily set positions and everyone needs to take on a certain amount of work in different areas.

According to an article in the Wall Street Journal guide to small business:


"An entrepreneur’s best bet for finding employees usually is networking. Ask for referrals from your friends, industry colleagues and advisers, such as your accountant, attorney, board members and organization members. If one of your advisers or colleagues recommends somebody, they’ve done some of your employee screening work already. Start-ups typically find their first 10 or 15 employees this way.”



Use any resources you can to find the right candidates. Having employees and staff members that add value to your business is crucial for you success as a business owner

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11/24/10--08:47: How To Attract The Media To Your Business (chan 1625027)

How can you make a name for your business? Sure you may have a great product, but your business will never be able to take off if no one knows about it. If you want your business to make headlines and gain the attention of people across the country – you need to bite the bait of media outlets.

If you want the attention of journalists, you need to be very careful. Journalists can be very picky about who and what they publish so use this advice to attract their attention and give them every reason possible to put your business’s name in headlines.



1. What Makes You, You?

The first thing you need to make obvious is what sets you apart from other businesses. Take a pen and paper and write down three attributes that come to your mind that make you unique. What are your selling points? Why should people buy from you and not someone else?



2. Perfect Your Pitch


Your pitch should be concise and to the point. It should be built based upon the three selling points you decided on earlier. Your pitch should stay under 30 seconds (generally 2 sentences). That’s about all you’ll be allowed to gain a journalist’s attention.



3. Be Adaptable


No matter what media outlet you choose to target, they all have different audiences. If you conduct a proper amount of research, you can tailor your pitch and your idea to fit what that audience wants to hear.



4. Have Enough Information

There’s nothing more peevish to a journalist than being forced to dig for more information after taking on your idea, especially with tight deadlines. Be sure to have additional information available in advance. If a journalist does choose to feature your story, have screenshots, videos, or images readily available.



5. Keep Your Submissions Focused

Take a great effort to personalize your submission to the editor you send it to, don’t spam to dozens of editors, choose significant contacts and spend time tailoring your material to those specific people.

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11/29/10--08:26: 3 Ways To Make A Great First Impression (chan 1625027)

As an entrepreneur, it is imperative to retain a good reputation. Making mistakes during a meeting is avoidable. There are techniques you can use to make sure you make a proper first impression every time. It’s as simple as doing an adequate amount of research on the person and the company with whom you are meeting.

Here are a few tips to follow to prepare for any meeting, and make a great first impression:



1. Research who you are meeting


Use the company website to look up any information you can find about the person you are meeting with. Think about basic things you would need to carry on a friendly conversation. Where did the person grow up? How did they start their career? What are their personal interests? What you are looking for is ways to relate to the person. People like people who are like them. It’s very simple, if you can remember someone’s name and some basic facts about them, you already stand out in their mind.



2. Research the company


When you are looking at a company website, avoid scanning. People can always tell when you have simply skimmed through a website and didn’t spend much time there, or focus on the right parts. Know who their featured clients are, read testimonials and comments, read the blogs that the site features. You should know exactly what the company does and why it is different from their competitors. This will not only help your knowledge about their company but will give you conversation topics should you need them.



3. Have a purpose


Make sure you walk into the meeting with clear and indisputable objectives. Have questions that you want answered at the top of your mind. Directness can go a long way in entrepreneurship. You are not using the meeting to flaunt all of the research you’ve done prior, but to accomplish the objectives you had in mind when you scheduled the meeting in the first place.

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11/30/10--05:56: How To Attract Customers With LinkedIn (chan 1625027)

As social media marketing grows into a tool that is almost mandatory for businesses to use, certain social media sites are getting weeded out and deemed unhelpful. Many people believe that LinkedIn is not that efficient in attracting customers or clients. This isn’t the case; in fact LinkedIn can be a great tool to attract customers as long as you use it the right way.

With over 80 million influential professionals from over 200 countries on LinkedIn, your potential reach is outstanding. Use LinkedIn properly to find anyone from experienced professionals to small business owners to aspiring entrepreneurs.

According to Kristina Jaramillo, a LinkedIn expert who wrote a brief on Focus.com, there are a few reasons why you are not connecting with the amount of people you want on LinkedIn:



Reason #1 - You are waiting for prospects to come to you


Clients who are willing to pay for your products and services will not just fall into your lap. As an entrepreneur you have to make it part of your job to go out and find them. You have to be the one to take charge and find your prospects.

Here are a few ways to easily engage with others on LinkedIn:


• Update your status message daily.
• Start a vigorous discussion in various groups that you belong to. This will enable you to prove your expertise in your given area.
• Answer questions on the Q & A Boards. This will show your experience and help you become a thought leader

Reason #2 -You fail to take advantage of LinkedIn groups


LinkedIn allows you to join up to 50 groups - where you can network, join conversations and show prospects that you have the answers to their problems. Yet, most small business owners and Internet marketers do not actively seek groups that they should belong to.

If they do join groups they make these two mistakes:


1. They become a member of a group - but they sit there like a lump on the log. How can you expect prospects to come to you if you do not take the time to make yourself heard?
2. They join groups where there are like members. Let me put it to you this way, do you want to be a member of a group that is full of your competition or do you want to belong to a group that is full of people who could turn out to be your prospects. It sounds pretty obvious to me that you would want to be where your prospects are. But many entrepreneurs fail to think outside the box and strictly join groups based on their field of expertise.

Another way, to take advantage of LinkedIn groups is to create your own group. This is the absolute best way to create your own community of followers. You are the one who is in charge of the type of content that is posted. You can make sure what you have to say is heard and you have the power to control your own group. From my experience, many group members religiously check out what is being discussed in the groups they find the most useful. Why can't your group be one of them?

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12/01/10--09:05: What's Trending with Social Media? (chan 1625027)

Social Media is starting to become old news to all businesses, big and small. Now, people are starting to pay attention to how social media is changing to adapt to the demands of all businesses (big and small).

Smartbrief, a media company that prides itself on disseminating important information to professionals, conducted a survey about how social media is changing and evolving. This survey gives fantastic insight into some of the trends, behaviors, and challenges of many social media marketers.

Here are some of their findings:


• 66.5% of companies surveyed have started a social media presence in the past 18 months.
• The top 5 social media channels that companies are generally focusing their efforts on are Facebook, Twitter, LinkedIn, YouTube, and Blogs
• 49.1% of businesses find Facebook to be the most important site, with Twitter close behind at 40%
• The point at which businesses begin gaining confidence with their social media presence is after approximately 2 years of activity.
• 28% of businesses say they have fully integrated social media into their business model after about 2 or 3 years of activity.
• Almost 50% of business have a fully developed social media marketing strategy after about 3 years of social media usage.
• 94% of surveyed business said their number one goal with social media was to “increase awareness of and interaction with our brand.”
• 33.3% of respondents said that the number one obstacle with social media usage was “I am not the decision maker”. This could be because many people in charge of the social media usage of companies are not in executive positions.

What does this all mean?

Social media is certainly growing. Businesses are starting to learn that having a social media presence is mandatory for their success. About one third of the companies surveyed have been using social media for at least two years. This is clear evidence that measurable results from social media efforts take time. Those who have been around longer have a stronger level of confidence and more measurable results than the 66.5% of people who started their social media presence within the past 18 months.

So does this mean you will have to pitter around on Facebook for a full two years before you see results? No. If you use social media the right way, it can work to your advantage almost immediately. Almost all of the survey respondents said their goal was to increase awareness and interaction with their brand. That’s great, but we still see that many companies are not doing much to promote 2-way communication. As long as you are genuinely interacting with your customer base, you will see results.

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12/02/10--08:18: How To Keep Your Customers Happy and Talking About You (chan 1625027)

With the growth of social media and the increasing importance of positive word of mouth marketing, it is more difficult than ever to shape your advertising campaign to ensure a positive image. Customers are inevitably going to talk to other customers. If a customer has had a poor experience, it will reflect poorly on you and there is not much you can do about it after the fact.



How to avoid poor reviews


The most important thing to remember is the critical need to please your customers. You need them to keep coming back after all, why not encourage them to come back with their friends? There are many ways to maintain quality customer service using social media, where the conversation about your brand is happening anyway. Make sure to have accounts on various social media channels that encourage customer feedback like on Facebook, Twitter, LinkedIn, and blogs.


How to use social media for customer service


With the blog posts, you can write something creative such as an answer to a customer question or response to a customer concern once a week. The advantage to this is that not only are you answering a question that other customers may have, but it is now published to your website which shows two things: one-that you’re genuinely concerned in the happiness of your customer and two-that you are willing and able to solve the concerns of your customers should they arise.

Facebook and Twitter are great to answer quick customer questions and respond to customer complaints. However, social media is regularly updated and one status update will be forgotten two weeks from now. The reason why blogs are great is because they’re a little more permanent and generally have a longer shelf life.

The more questions you answer and problems you solve, the better it reflects on you and your company. Negative word of mouth marketing will inevitably happen, it is so hard to avoid. However, if you take care of the customer first, your chances of having poor reviews firing across the Internet decrease dramatically.

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12/06/10--09:15: 5 Rules To Follow When Picking Keywords (chan 1625027)

Do you have a business website? Are you frustrated that you have a fantastic business website with every bell and whistle you can think of and yet no one seems to notice it? Many small business owners feel the same way. Thankfully, there’s something you can do to change that.

If you want your small business website to appear higher up on Google so that people will see it and have access to it when searching for your product, you need to have a selection of very deliberate keywords throughout your website. This will give you higher search engine rankings and ultimately – higher traffic.

Here are some guidelines to follow when choosing keywords to include in your website content.



1. Keep it relevant

Every keyword you choose should have relevance to the product or service you provide. The more relevant keywords you have, the higher search engines will rank your site.



2. Conduct research

When choosing keywords, you need to make sure that you are choosing keywords that people are actually searching for. Use Google AdWords to find out if the keywords you are using are actually in demand. This will ensure that you are selling to a market that needs your product.



3. Beware of your competition

When you are researching the possible keywords you should use, you will be able to see how competitive they are. Try specifying and refining your keywords, use phrases instead of just one word, to set yourself apart from your competition.



4. Keyword stuffing

Try to avoid stuffing your content with repetitive keywords. Also, it is important that you have enough keywords on your page to make it count. There is a particular balance that you need to pay attention to. If you have too many keywords, you will be labeled as a spammer. If you don’t have enough, your page will not be considered relevant when people are searching for those keywords.



5. Quality content

Even if you select the best keywords, and insert them perfectly into your content, your efforts will continue to suffer unless you have quality content. Quality content means content that is relevant to your business, targeted towards your target market, and well written.

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12/07/10--04:57: 3 Low Budget Marketing Tricks (chan 1625027)

Most new small businesses don’t have the budget necessary to launch a huge advertising campaign or employ an elaborate marketing strategy. However, there are a few things you can do as a small business owner to successfully market your product in a competitive market.

Try these methods and see if they don’t generate customer traffic and increase your revenue stream. The most important thing is to get your name out there and get people to start buying. Once you have a customer base you can work on retaining it, but you need to build your customer base from the ground up first.



Coupons

It sounds fairly simple but truthfully it works. When you give customers and incentive to buy your product over your competitors, generally they commit. It’s truly not that expensive to print coupons. You can get 500 to 1000 coupons for anywhere form $40 to $80 depending on the size and content you want. The focus here is not on the image or presentation of the coupon, but the offer.



Contests

Contests are a great way to generate traffic, especially if you’re hosting a contest on your website or your social media site. For example, if you hold a "tag yourself" contest on Facebook, you’re bound to get some attention. Have a contest where the first person to take a picture with your product and tag themselves wins some sort of free promotion. You may even get good media coverage out of it.



Exclusive offers


By making people feel special, or making them feel like they got some sort of deal over others, they have even more reason to go with your company over your competitors. By offering some sort of exclusive purchase or sneak-preview of merchandise to customers that have already bought from you, you are enhancing your customer loyalty. This works especially well in referral programs. Having your existing customers market for you can be one of the most effective marketing strategies you use, and you don’t even have to pay them for it! Offering some sort of reward is incentive enough.

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12/08/10--08:00: Why Marketing is a Long Term Investment (chan 1625027)

Marketing is about distributing information and sending deliberate messages to your audience. There are several different channels of marketing including advertising, customer service, public relations, and having a quality product in the first place.



Why Marketing is Not Sales


Selling is where you measure your profits. When you are behind on revenue, you increase selling efforts. Improve on selling skills, try targeting new audiences, or offer a more valuable product or different incentives to buy.

Marketing is not sales because marketing is difficult to track. You cannot measure your return on investment when it comes to marketing. It’s all about branding, getting your business’s name out and ingrained in your audience. Marketing is when your customers hear your company’s name, they have an image of your business that you deliberately created.



Why Marketing is Important


Marketing is an extremely important aspect of growing your business. Even though the marketing you do today will pay off in a measure of months or years, it is important to market simply because it will make your business last much longer than if you were to focus your efforts on ramping up your sales efforts.

Also, if you choose to begin marketing your company and your product, try to spread out your efforts among various channels. It is hard for a large audience to hear (and most importantly – remember) who you are if it is limited to just one channel. If you are advertising on the radio, you need to pump up your social media marketing efforts equally. A lot of people on social media networks don’t listen to the radio. You need to be aware of your potential audience reach.



Making it a Long Term Investment


If you create a marketing plan, it should expand over a long period of time, from months to years. You need to stay committed, consistent, and persistent. Don’t get frustrated if you don’t see immediate results because it’s not about the return on sales (that’s SALES), it’s about creating and identity for your company in your consumers’ minds.

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12/09/10--08:21: How To Increase The Mood To Buy This Holiday Season (chan 1625027)

This holiday season, people are already in the mood to spend. There are a few things you can do as a small business owner to increase the incentive to spend. These things can include boosting the holiday mood and creating a pleasurable experience for people who choose your product over your competitors.

It used to be that holiday shoppers spent freely and went shopping with open wallets expecting to spend. Now, people are struggling to come up with the money to purchase gifts for others the way they used to. This makes it more difficult for you, the small business owner, to provide incentive and reason for people to go the extra mile and buy that gift they’re hesitating over.



Use some holiday touches


If you put a little extra effort into your storefront, it can make that much of a difference. Bake cookies and have them available, include some hot chocolate. It’s not an expensive investment and it warms the customers up into the holiday (and spending) spirit. For people who are shopping with their significant others, have seating areas available where they can rest while their shopping partners root around the store to find the perfect gift.



Have a reason to buy


It is the holiday season, which means that people will begin refraining from shopping for themselves, and shopping for others. The most significant part of this spending change is the fact that people put more thought into gifts for others than they would a purchase for themselves. As a small business owner you need to provide low prices or very unique products. People simply won't settle for something this time of year, purchases need to be special.

Pam Danziger, the president of Unity Marketing, a consulting firm specializing in high-end retail, was interviewed for an article at Allbusiness.com. Her advice is well sought after as the author of Shopping: Why We Love It and How Retailers Can Create the Ultimate Customer Experience. According to Danziger:


“You have to recognize that it’s less about the products you sell and more about how you sell them. It’s about making your store a destination, based on the way you make customers feel and the services you provide.”

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12/10/10--09:19: Why Social Media is Changing the B2B Marketing Strategy (chan 1625027)

Social media is exploding in the business market. More and more business owners are starting to recognize that they need to put some effort social media marketing. In many cases, that’s where the understanding ends. Because social media is so new, it is difficult to measure exactly what to do, how to do it, and why it works.

Tony Zambito, Founder and Principal of Goal Centric, wrote a fantastic brief on Focus.com detailing what social media is used for, how to use it, and why it’s effective. Read the key points below and learn why social media marketing could be the next best thing for your small business:



Listening Post

Social media represents the new “listening post” to buyers. Buyers have always by nature gravitated towards a listening post. From the old western frontier saloon to the modern day conferences buyers have listened. Social media has created a widespread availability for buyers to listen in on what is new, what others are saying, and for good sound advice without having to reveal who they are.



Online Education


We are hearing much these days about content marketing, content curation, content creation, and the likes. A read on this from a buyer’s perspective and how it is changing the buying experience is that buyers expect to be educated. In reality, B2B businesses are learning to become a new breed of online educators. Buyers, when confronted with problems, issues, and initiatives, are impulsively online seeking to educate themselves about what confronts them. If this “thirst for knowledge” cannot be filled, on they move until a source is discovered that can. Social media can represent such a source for education.



Peer Review


Social Media Publishers, in an alternative form of the traditional means, represent a new mode of peer review for professionals in B2B domains. This is much different than peer-to-peer networking per se’ for it alludes to establishing a form of reputation, credibility, and subject matter expertise. Peer review within Social Media Publishers is transforming the buyer experience by creating a “collegiality” atmosphere to the overall buying experience.



Brand Advocacy 


Social media represents a new fountain of advocacy for a particular brand. An all-encompassing advocacy of a brand and the experience they represent. The key difference is that buyers will contribute to brand advocacy organically versus being asked to through whatever promoted means designed to “compel” them to do so. While B2C promoted advocacy can catch on, B2B buyers are astute in differentiating organic advocacy from promoted advocacy.

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12/13/10--09:15: What To Do If You Are Underperforming (chan 1625027)

Do you feel like no matter what you do you can never measure up to par? It can be frustrating to feel like all the work you do ends up going unnoticed or written off. The first step to curing underperformance is admitting it. If your work simply doesn’t cut it, you need to take the necessary actions to change.

If you are a small business owner and you just can’t seem to see results from your efforts, or if you are an employee at a larger enterprise and you seem to be written off no matter what you do, there is an answer. Amy Gallo wrote a great blog post on Harvard Business Review about what to do if you are underperforming:



Ask for help

"If you're screwing up, you should be open with your boss," urges Jean-François Manzoni, Professor of Leadership and Organizational Development at IMD International and co-author of The Set-Up-to-Fail Syndrome: How Good Managers Cause Great People to Fail. Many bosses respond better to "I need help" than they do the various rationalizations and explanations that often accompany poor performance. Be concrete about what you ask for. "Others will be more open to helping you if you show them how they can help, and you show them you are taking responsibility for what's in your control," says Manzoni.

Involving others — peers, mentors, even direct reports — can also be helpful. Ask for feedback about how you are performing and advice on how you can improve. These discussions serve two purposes. One, they help you gain useful insight into your own behavior. Two, they also let people know you are working on the issue. If they know that, they are more likely to give you the benefit of the doubt in assessing your future performance.



Decide what to focus on


J. Richard Hackman, the Edgar Pierce Professor of Social and Organizational Psychology at Harvard University and author of Leading Teams: Setting the Stage for Great Performances, recommends using a three-part checklist to assess the underlying causes:


1. Effort. Am I putting enough time and energy into the work?
2. Strategy. Am I working smartly rather than relying on routine?
3. Talent. Do I have the skills, knowledge, and capabilities to do my job well?

"Just asking one's self those three simple questions often will surface some concrete things one can do to improve," says Hackman. Use the answers to decide where to focus your efforts.



Principles to Remember


Do:


• Recognize what is in your control to change and what isn't
• Sincerely ask for advice and feedback
• Include others in your improvement efforts so they can see and appreciate your progress

Don't:


• Be defensive about your underperformance and try to blame it on outside events or other people
• Assume that just because you are improving, others recognize it
• Stay at a job where you've become permanently labeled an underperformer

If you are a small business owner and you have employees that are underperforming, it is important to be understanding and offer help when you can. If you are underperforming, follow the above principles and restore your reputation. It is important to assert the effort it takes to improve for your company and for yourself.

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12/14/10--00:28: How To Avoid Wasting Time On Social Media (chan 1625027)



Although I have been adamantly advocating the use of social media for small businesses, many people are still hesitant to jump right into it because of the fear of being overwhelmed. This truthfully happens all too often. You could very well become bombarded with status updates, tweets, Facebook posts, or even spreading yourself too thin across different social media networks.


Travis Hodges, a freelance social media consultant, gives us wary social media users some advice on how to avoid wasting our valuable time and marketing efforts. It is important to use social media marketing to your advantage. There are many components of social media that can become a distraction to your objectives, so pay attention.



Do not follow too many blogs


Try sticking to blogs that directly relate to your industry. Also, weed out blogs that aren’t as informative as others. You should follow blogs that you can learn from on a consistent basis. In addition, pay attention to how much time you’re spending reading each blog, you should be able to get a wide variety of information, not sinking into one particular blog for an absurd amount of time.



Do not read every single tweet, post, or status update


Social media is completely overloaded with unnecessary content. If you follow tweets or updates that can be valuable or informative to you, that’s fine, but try to avoid those that don’t quite make your favorites list or group.



Do not follow or friend too many people


You don’t necessarily have to be friends with everyone you possibly can. This is just poor networking and is inefficient. If you friend every person possible, you will undoubtedly be labeled as a spammer eventually. Again, follow and friend people that you can learn from, or converse with, all for the better of the community, your company, and yourself.



Do not spread yourself too thin over social media networks


For small businesses, the most recommended social media networks for you to join include: Facebook, Twitter, LinkedIn, YouTube, and blogs. These are the most widely used and the most effective if you are using social media for your marketing strategy.

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12/15/10--08:44: 4 BIG Small Business Changes for 2011 (chan 1625027)

As the year 2010 comes to a close, many small business owners are enjoying the holidays and looking forward to the future. There will be several changes and enhancements in the world of small business next year; many of these changes have already started to take place.



Mobile Applications


For the past couple years, it was important for business owners to build an effective website and then create a mobile app to supplement the website and make access more readily available to consumers. Next year, it will become imperative for a small business owner to design your website keeping mobile in mind. Your site should be simple, clean, and easy to read from a mobile device.



Social Media


It’s already becoming mandatory for small businesses to have a social media presence, so what could be changing for next year? Social media marketing may very well shift from connecting with consumers to selling to consumers. Now that social media users are becoming desensitized to seeing businesses’ presence on social media, it will come time for consumers to do business on social media. Workers with skills in social media will have a busy year next year.



SEO

Search engine optimization will get even more complicated next year, content will still be incredibly important of course, but search engines are getting smarter too. You won’t be able to rely on stuffing your content with keywords. Search engines will begin to differentiate the value of keywords by using methods such as ranking the amount certain keywords are mentioned on social media sites. Next year, it will be about how you use your keywords, not how much you use them.



Traditional Marketing


There are rumors floating around the Internet saying that traditional marketing, like direct mail, telemarketing, radio advertising, and the like are fizzling out. Now, marketing must be a form of entertainment. Marketing is revolutionizing into a form of customer acquisition in which businesses aspire to gain relationships with customers, rather than sales.

It is important to keep up with trends. Some trends may stay as trends, and some may die out. Social media looks like it’s here to stay so it’s important to develop a social media strategy for your business and your website.

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12/16/10--09:10: Retail Sales Increase - What It Means for Small Business Owners (chan 1625027)

According to the Wall Street Journal, November saw a significant increase in sales that gave the economy a real boost. Merchants reported better-than-expected sales, giving the average small business owner some hope for the future.

The Commerce Department said Tuesday that retail sales increased by 0.8% in November, outperforming the 0.5% increase economists had predicted. The increase in sales rose to the highest level since November 2007 – right before the recession began, according to the article.



Holiday Shopping is Critical for Business Owners


As a small business owner you understand the importance of boosting your sales during the holidays. As Thanksgiving rolls around every year your head is probably buzzing with sale and discount opportunities. According to the article, Jim Baird, and investment strategist for Plante Moran Financial Advisors, confirmed that consumers were boosting spending in the middle of the holiday shopping season – the most critical time for business owners.

It’s difficult as a business owner not to depend so much on holiday shopping. However, we have hope for the future.



“Compared to a year ago, the results are very encouraging,” Baird said.





Survey Results


According to the article, Tuesday's retail-sales report showed auto and parts sales fell by 0.8% in November, after surging 5.6% during October. But excluding autos, retail sales in November rose 1.2%, topping expectations for a gain of 0.7% as general-merchandise store sales climbed by 1.3% and clothing-store sales surged 2.7%. Non-store retailers, which include mail order and Internet sales, jumped 2.1% in November.



How to Maximize the Sales Increase for Your Business


As a small business owner, you should see these numbers and get excited about the possibilities of the future. However, you need to make sure you have the right tools to maximize on the sales increases. Do you have a business website? If not, you absolutely need one. It is so critical these days to make sure that you are available to consumers from any channel they might use. Have a business website that is compatible with e-commerce; it can be the most powerful investment you have.

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12/17/10--08:07: Marketing Tips for the Holiday Season (chan 1625027)

This holiday season is critical for small business owners. It is important to capitalize on marketing opportunities this holiday season as more and more consumers are changing up their methods of finding the perfect gifts for their loved ones.

According to a recent survey conducted by BDO USA, retailers are vamping up their social media marketing efforts – specifically on Facebook. The survey reports that 92% of CMOs are focusing their social networking efforts on Facebook. This number is a huge jump from the reported efforts from 2009 (76%).

The survey also reported that Twitter’s popularity grew from 50% in 2009 to 61% this year. Other findings from the survey show:


• YouTube at 20%
• LinkedIn at 15%
• MySpace at 8%

Why the big jump?

Well for starters, Facebook has a whopping 500 million users – and it’s free. Small business marketing on Facebook and other social media sites are truly gaining traction. However, only 15% of retail CMOs say social media marketing accounts for 20% to 29% of their marketing efforts.

Clearly the low budget costs are helping to up the social media marketing strategy. By being able to market to a broad audience for free, companies have more room and flexibility to market on larger broadcast media channels, such as radio, print, online, and on TV.



What this means for you


If you are a small business owner looking for ways to market your product for the holidays, it is clearly a benefit to you to invest some time and effort on Facebook. If you set up some special promotions for the holiday season, people will undoubtedly respond.

Here’s an example: have a snowman or some sort of holiday decoration in your store or readily available to consumers. Then, have a contest where the first person to take a picture and tag themselves and your store on Facebook can win some sort of prize from your store, like a free gift or gift certificate. This will prompt people to be in your store more often, and will generate word of mouth all over various social networking channels.

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12/20/10--07:03: How Social Media Can Reach International Customers (chan 1625027)

Social media marketing has been rocking the United States as a mandatory medium of information for small businesses. As a small business owner, you should already have a pretty clear understanding of how powerful social media can be to your networking and marketing efforts.

According to a blog post in Entrepreneur.com written by Mikal Belicove, social media is now a huge factor in the global marketing front. According to Belicove, 70 percent of Facebook’s 500 million users are from outside the United States. Here are a few key facts from Belicove’s post:



Social Networking Picks Up Steam on a Global Level

“In the U.S., of the 92 percent of Americans who say they go online, 46 percent claim to participate in social networking tasks, while 36 percent say they do not. Only 18 percent of those surveyed in the U.S. claim they never go online.

"The nations that come closest to matching the United States in terms of social networking are Poland and Britain with 43 percent and South Korea with 40 percent usage.

“And at least one third of the survey-takers in France (36 percent), Spain (34 percent), Russia (33 percent) and Brazil (33 percent) engage in social networking. Germans and Argentineans follow, with 31 percent. It is at this point where social networking slips dramatically into the 20-percentile range, with figures showing Turkey at 26 percent; Japan and Jordan with 24 percent and China and Mexico rounding out with 23 percent.

“Not surprisingly, the use of social networking is a rarity in many less-developed nations. That is because many of these nations don't go online in the first place, rather than a lack of interest in social networking. But in those countries where the Internet is used, participants also use social networking.

For example, in Indonesia and Pakistan -- where 91 and 94 percent of the population has no access to the Internet, respectively -- 6 percent of Indonesians and 3 percent of Pakistanis claim to be involved in social networking.”



Social Networking Usage Define by Age

“Again not surprisingly, Pew's global poll found that social networking is dominated by the young. In more than half of the countries responding, social networking was most prevalent among those under 30. Only in Britain (58 percent), Poland (57 percent) and the U.S. (55 percent) are the majority of social networkers in the 30 to 49 year-old bracket.”

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12/21/10--07:09: How To Build Your Brand Identity in 2011 (chan 1625027)

Picture this, you’re starting up your own business, just barely getting it off the ground, and you want to take the next step. You want people to know the name of your company, or you want people to be able to choose your company over competitors for a reason. If this sounds like you, there is only one answer. You need to start working on building your brand identity.

I spoke with a very successful retired marketer yesterday, and had an extensive conversation of how marketing is going to change in the future. Robert Silberberg, a former marketer from New York, has a pretty clear understanding of how things are going to change in the future.



“Everything is going to be online, obviously. Traditional marketing is dead,” Silberberg said.





Social Media is Vital


You can absolutely use social media to build your brand identity. However, the game has changed. Because consumers who avidly use social media are becoming more and more desensitized to the existence of social media marketing, people will eventually start ignoring marketing efforts online. So what can you do with social media to avoid being labeled as just another marketing ploy?

The answer is: (dun dun DUN!) interact with people on social media. Use Facebook, Twitter, LinkedIn, and blogging to your advantage. However, instead of bombarding your followers and fans with links, images, and offers, actually open up a two-way communication channel with customers.

If you want your company to be seen as a resource for people who are looking for your product, you need to encourage conversation online. Post a question every week that actually encourages people to respond. Use your status to encourage feedback and opinions. If you can use people’s opinions to find opportunities for improvement, you are well on your way to mastering the power of social media.



Have an Effective Website


One of the most vital things you need to have a successful marketing strategy is an effective website. You need a content management system that allows you to continuously update your content in order to keep up with changing demands. Your website should allow for comments and feedback from browsers. Your website also needs quality content that gives your customers a plethora of reasons to transform from browsers to buyers.

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12/22/10--07:38: Why Are Web Analytics So Important? (chan 1625027)

Do you have a business website? If so, answer these questions for me: How many visitors have you had today on your website? Where do they come from (geographically)? Did they find you through a search engine or a referral site? When did you experience the most traffic for today?



E-commerce


These are the types of questions web analytics can answer. It is so important to have this information under your belt if you are a small business owner with a functioning website. This is especially important if your website is e-commerce capable. How else will you figure out if people are coming to your website, browsing, but then once they hit the order page, they scatter?



Traffic


It is also very important to understand the level of traffic that visits your website. If you have an extremely high level of traffic, but low sales returns, you can tell that there is something happening within your website to turn people away. Good news is people are seeing your website fairly often – which means you have great visibility.



Social Media


It’s fantastic if your company has a social media presence on Facebook or Twitter. However, if most people use their Facebook without giving people an incentive to go to the company website, where do the sales happen? If you advertise on Facebook, web analytics can give you the power to see if people are clicking on your ads and coming to your website.

Using web analytics can give you power over your competition. However, if you install a web analytics program and you don’t know how to use it, it will become just another wasted commodity. If you take the time to study the statistics provided for you from web analytics, you will be able to make your website much more effective.

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12/23/10--08:38: How To Earn Revenue By Giving Advice (chan 1625027)

According to an article on Mashable.com, there are ways you can make money by giving advice. It’s true. You can potentially generate significant revenue simply by sharing expertise and valuable information with peers and clients.

According to Mashable.com, there are a few ways to follow through with this idea. Here are the three that I found most helpful and potentially lucrative.



Newsletters

You may already have an e-mail newsletter, and it’s probably a great tool for customer retention. There’s a lot of value in being able to reach out to customers with news about your products or services, offer discounts and provide value-added content that keeps people interested. But have you considered offering a more premium, paid newsletter? Whatever your business, you likely have expertise that people will be willing to pay for. Restaurants could offer a monthly newsletter with recipes using seasonal foods, for example, or a gym could offer a weekly newsletter with exercises and tips on staying healthy.



Consulting

The lessons and skills you’ve acquired over the course of building a successful business have immense value to your peers. People will pay for that knowledge if you offer it via a consulting service. While many startups are bootstrapped using funds raised by consulting gigs, it’s unlikely that as a busy small business owner you’ll have the time to put hours into consulting. Still, by setting aside a few hours each week or taking on a couple of consulting clients, you can build a healthy secondary revenue stream and potentially be introduced to unique investment opportunities.



E-Books

E-books are old school and they take a little more upfront investment, but they’re potentially very lucrative. 37signals pulled in $350,000 by selling downloads of its first business advice e-book, Getting Real. People could be willing to pay for your expertise, as well. A mechanic, for example, could sell a series of e-books on do-it-yourself auto and motorcycle repair. If you’re a pet groomer, what about an e-mail about caring for dogs? Think about what you know and about how it could be expanded into a 40- or 50-page book.

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12/24/10--09:13: How To Succeed In Your Part-Time Business (chan 1625027)

Many part-time business owners can feel the stress of balancing a career and heading up their own venture. However, it can be done. According to an article in Entrepreneur.com, the Entrepreneur staff conducted an interview with Arnold Sanow, the co-author of You Can Start Your Own Business, about how to make your part-time business a success.

Follow these tips to make your life a little easier:



1. Get your family involved.

Whether it's answering the phone, stuffing envelopes or putting together orders, giving family members the chance to help out is a great way to get more accomplished in less time -- while also making them feel like they're part of your business.



2. Be ready to give up personal time.

You won't have much time for TV, reading or hobbies you used to enjoy. Be sure the sacrifice is worth it, or both your job and your business will suffer.



3. Focus on the task in front of you.

When you're at work, focus on work. Don't let thoughts of your business distract you.



4. Make the most of every minute.

Use lunch hours or early morning to make phone calls. Use commuting time on the train to catch up on paperwork.



5. Take advantage of time-zone differences and technology.

If you do business with people in other states or countries, make time differences work to your advantage by calling early in the morning or after work. Use faxes and e-mail to communicate with clients at any time.



6. Don't overstep your boundaries.

Making calls on company time or using your employer's supplies or equipment for your own business purposes is a big no-no.



7. Be honest.

Only you can assess your situation, but in many cases it's best to be upfront with your boss about your sideline business. As long as it doesn't interfere with your job, many bosses won't mind. You'll also gain by being honest rather than making them feel you have something to hide.

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12/27/10--07:16: How To Remodel Your Business Website (chan 1625027)

If you have a small business website, you need to continuously update your content in order to keep customer attention and quite frankly – give them a reason to buy from you. If your content is starting to look at little stale, it could be time to revamp your website.

An article in Small Business Trends explains a few ways to amp up your content for 2011:



1. Highlight your strengths.

You’ve probably heard it a lot over the past year – marketing is storytelling. Each sentence on your site should be part of a larger effort to tell your brand’s story and lure readers in. To capture people’s attention, your content has to be telling a story that displays your product/company’s strength and tying it back into how it will solve a problem they’ve expressed.



2. Know your competition’s weaknesses.

Part of knowing where your product succeeds means also knowing where your competitor’s product fails. Maybe you deliver superior customer service, maybe it’s a price point issue, or maybe they’re nowhere to be found on social media whereas you’re dominating and ever-so-accessible. Whatever their specific weakness is, make sure you account for it when highlighting your strengths. Don’t do this in a way that speaks badly about your competition, but in a way that highlights something that you do really well.



3. Tighten your calls to action.

One of the most important things you can do for your website is to use your analytics to find your high-traffic/low-conversion pages. You know that a large number of potential customers are landing on these pages, but for some reason, they’re abandoning before they can convert. Why? Often it’s due to too many distractions on the page, or maybe your calls to action aren’t as compelling as they should be



4. Reassess keywords.

Two years ago you used keyword research to help you determine how users were searching for your products and which terms you needed to rank for. You then developed content based on those terms. But have you checked back in to see if you’re still on the right path? By tidying up your keywords you ensure you’re attracting the right people and optimizing your search traffic.

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12/28/10--08:26: What You’re Doing Wrong With Social Media Marketing (chan 1625027)

In an earlier post I had discussed that it’s important not to spread your marketing strategy too thin. You can’t dabble in a little social media, use some PPC periodically, write one blog post stuffed with keywords, among seven other different inadequate marketing ploys.

It is important to use a few different marketing channels but even more critically – it’s important to put the right amount of effort into each channel to ensure yourself some results.

There are very common mistakes that people make with each marketing channel that can prove deadly. These mistakes are the reason you’re not seeing results from your efforts. I’m going to discuss some of the problems you might be having with social media specifically, and give you a solution.



Social Media Marketing

• Mistake: Wasting time because you don’t know how to do it right.
• Solution: Doing it right.

If you set up a social media account, ad a bunch of people you think might be interested, bombard them all with links and advertisements, then immediately run to your sales returns and study them furiously – you’re doing it wrong. Social media is about generating relationships, customer loyalty, and word of mouth marketing.

It’s important to have a stock of customers (even if it’s small in the beginning), that LOVE you. If you have a number of customers that enjoy what you’ve done for them, they will talk about it. If you have a positive network of people talking about you on social media networks, the word will spread quickly and your company will gain credibility.

Once your company gains credibility, you have an advantage when it comes to a new customers purchase decision over your competitors.

The point is: social media is not a quick sale income generator. It takes a long period of time (often two years or more) to see returns. It is a good investment because it is a cost-effective way to brand your company.

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12/29/10--09:16: Small Business Marketing Basics (chan 1625027)

If you have started up a new small business, and need to build your company name, it is important to understand the fundamentals of marketing. Marketing requires an integrated method of multiple activities that is much more than just advertising your product.

The U.S. Small Business Administration gives a great detailed explanation of the basics of marketing and why it works.

According to the SBA, marketing has two main principles:


1. All company policies and activities should be directed toward satisfying customer needs.
2. Profitable sales volume is more important than maximum sales volume.

The SBA also says that there are very specific ways to use these principles such as using market research to determine the needs of their customers, analyzing competitive advantages, selecting specific markets to target, and figuring out how to satisfy customer needs.



Market Research


It is important to conduct market research by using simple questionnaires to give you an idea of current customer preferences, dissatisfaction, or possible new product ideas. You can also use market research to find trends in the market that can encourage or shut down certain sales ideas.



Target Marketing


Most small businesses don’t have unlimited resources to devote to marketing; however, the SBA wants you to know that you can still see excellent returns while sticking to your budget if you focus on target marketing. By concentrating your efforts on one or a few key market segments, you’ll reap the most from small investments. There are two methods used to segment a market:


1. Geographical segmentation: Specializing in serving the needs of customers in a particular geographical area.
2. Customer segmentation: Identifying those people most likely to buy the product or service and targeting those groups.

Figuring out Customer Needs


It is important to know how to satisfy your customers. You need to develop a highly specialized product or service, or have some sort of high-quality service. You need to stand out among your competitors.

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12/30/10--07:11: Give Yourself a Chance to Succeed in the Business World (chan 1625027)

There is no secret formula to succeeding in business. I can’t say follow these steps and you will reach the elusive world of financial freedom. However, there are certain aspects that most successful small business owners all have in common. If you work on these aspects, you’ll certainly have a better chance at success.



1. Positive Attitude


Always have a positive attitude, no matter what. I don’t need to site any statistics about various studies that show how a positive attitude reaped better results than a negative one. It’s common sense. Your attitude affects everything you do, the people around you, and how effective you are as a leader.



2. Use Effective Marketing


You need to market to a small niche of people. Your marketing efforts should be spread out among a few different channels, and you also need to be aware that the results of marketing take time to surface. Marketing is a long-term investment. It is about building the reputation of your company name – not sales returns.



3. Always be professional

Have a professional online presence, have a website that is e-commerce capable with quality content that keeps browsers interested. Be professional when you engage with social media. Choose your words, images, and actions with discretion and care as everything you do will reflect on your business.



4. Have a call to action

Have a blog subscription available to your clients with RSS feed compatibility. Or have visitors to your site fill out their name and email addresses to receive email newsletters. While it is important to attract traffic to your website, it is even more critical to have those visitors coming back again, and eventually, refer you to others.

If you follow these tips, you will be able to see a difference. These tips may seem like common sense but it really is amazing how many people don’t spend time on marketing, or are unprofessional and turn customers off, or have everything great but don’t convert enough customers. Keep these tips in mind and you will see yourself focused, energized, and motivated to see your business flourish.

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12/31/10--03:21: How Small Businesses Can Use Marketing Effectively (chan 1625027)

Marketing for small businesses can be difficult. It is important to remember that you are a small business, with a small budget and you need to make wise decisions. Larger businesses have a little more wiggle room when it comes budgets and resources. You as a small business owner need to know how to allocate your resources as efficiently as possible.

Business know-how gives us some advice on how to market wisely as a small business. Follow these tips from a post on Business know-how and learn how marketing can help you greatly if done well:



1. Offer a Cheaper Version

Some prospective customers are not willing to pay the asking price for your product or service. Others are more interested in paying a low price than in getting the best quality. You can avoid losing sales to many of these customers by offering a smaller or stripped down version of your product or service at a lower price.



2. Offer a Premium Version

Not all customers are looking for a cheap price. Many are willing to pay a higher price to get a premium product or service. You can boost your average size sale and your total revenue by offering a more comprehensive product or service ...or by combining several products or services in a special premium package offer for a higher price.



3. Try Some Unusual Marketing Methods

Look for some unconventional marketing methods your competitors are overlooking. You may discover some highly profitable ways to generate sales and avoid competition. For example, print your best small ad on a postcard and mail it to prospects in your targeted market. A small ad on a postcard can drive a high volume of traffic to your website or generate a flood of sales leads for a very small cost.



4. Set up Joint Promotions with Other Small Businesses

Contact some non-competing small businesses serving customers in your market. Offer to publicize their products or services to your customers in exchange for their publicizing your services to their customers. This usually produces a large number of sales for a very low cost.



5. Take Advantage of Your Customers

Your customers already know and trust you. It's easier to get more business from them than to get any business from somebody who never bought from you. Take advantage of this by creating some special deals just for your existing customers and announce new products and services to them before you announce them to the general market.

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01/03/11--03:42: How To Build and Maintain a Golden Reputation (chan 1625027)

Customer referrals can be one of the most powerful ways to build your company’s reputation. We all know how quickly one dissatisfied customer can contribute to a damaged reputation.

It is crucial to remember how much your brand name and credibility directly relates to your revenue flow. Companies who don’t have returning satisfied customers will suffer in comparison to companies who have a loyal customer base.

Here are a few ways to build and maintain your reputation in order to build a loyal customer base.



Never bad-mouth your competition


Of course it is beneficial to talk about your strong points with your clients, in your advertisements, or on your website, but always avoid degrading your competition. It can even be beneficial to you to compliment your competition. Say things like “they’re great companies, and I’m sure you will be happy with any of us, but I think you will be happiest with my company.”

If a client mentions a company you don’t necessarily respect, you can back out of bad-mouthing that company by saying something like “that company isn’t really a competitor of ours, but the others are pretty good competitors. I just think you would be happiest with our services.”



Be positive at all times


Even if you do lose a sale to a competitor, be able to own up to it and move on. It is understandable if losing a client to a different company angers you – but you need to be able to get over it and look towards the future. One poor reaction to the loss of a client can go a very long way. You should never take short cuts if you feel like you’re going to lose a client. It is very important to always be accommodating for difficult clients, regardless or not if you make the sale.

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01/04/11--07:07: How to Create a Marketing Plan (chan 1625027)

There are several ways to create a marketing plan. Once your small business is up and running, you need something concrete and on paper to refer to when reviewing your marketing efforts throughout the year. Many small businesses can get away with having just a half-dozen sheets. As long as you’re paying attention to the correct information, your marketing plan will work.



Your Marketing Plan


Have a three-ring binder with your marketing plan (on paper) in it. Leave room for monthly reports on sales and costs. Constantly updating your marketing plan is extremely important because it allows you to track your progress and adapt for the future. Many marketing plans fail because people have a tendency to stubbornly stick to a plan and attempt to carry it out even if it isn’t working.

Your plan should cover one year of marketing. Give yourself a couple months in advance to write your marketing plan, even if you only start with an outline. When writing your marketing plan, try to get feedback from as many people as possible. It is important to discuss marketing potential with the finance people in your company, the supply people, etc.



How your Marketing Plan Works with your Business plan


Your business plan is much more in depth and discusses the inner workings and ultimate goals of your entire business. Your documents must coincide. If your marketing plan starts deviating from the ultimate structure of your business plan, you need to change your business plan. It is important that the two work parallel to each other because your business plan is the backbone of your company’s functionality.

Your marketing plan should include research of your target markets, a competitive analysis, budgeting, your timeline of execution, and any other details that pertain to your marketing efforts. You should know in advance exactly what channels you intend to use, whether it be social media marketing, email marketing, or direct marketing – or all of them for that matter.

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01/05/11--08:58: Can YOU be a Successful Entrepreneur? (chan 1625027)

Starting a small business is not easy. According to the U.S. Small Business Administration, over 50% of small businesses fail in the first year and 95% fail within the first five years. Not to start off this post with straight negativity or anything, but you need to be realistic.

There is no guarantee of success when you’re starting your own business. There is no formula, no secret recipe, no checklist that will ensure your success if you follow such and such steps.

However, there is hope. If you can see yourself fitting into all of the following categories, you may very well have the potential to succeed as a small business owner:



A self-starter:


Someone who is capable of stepping up to the plate, initiating and developing projects, organizing and balancing time and responsibilities, and being detail oriented.



A chameleon:


Someone who can get along with various different personalities, a diplomat who is capable of developing a relationship with any kind of person whether they are a dissatisfied customer, a sporadic vendor, an irate banker, or an unreliable consultant.



A decision maker:


Someone who can perform under pressure, someone who can make a quick, independent decision with a pressing deadline. If your website is down, you can make the calls to have it fixed and up and running while also coddling the dissatisfied client who couldn’t place an order online.



A planner


Someone who understands the importance of organization, an organizer who knows what is demanded of him or her five minutes from now or five days from now, who can organize finances, inventory, schedules, marketing strategies, and dodge any major mishaps.



A pusher


Someone who can take the emotional trials of running a small business, a person who does not take no for an answer and is not intimidated by responsibility or work overload.

As an entrepreneur, you can’t underestimate the difficulty of starting a new business and succeeding. It is important to be patient, work hard, stay organized, be open-minded, and keep pushing forward.

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01/06/11--06:08: How a Blog can Increase Sales for Your Online Business (chan 1625027)

If you have a small business, you probably already understand how crucial it is to have an online presence. Studies have shown how the world of commerce, marketing, and social interaction are all transitioning online, so there’s no reason not to be accessible on the Internet.

Once your online business is set up, you need something to continuously drive traffic to your site. Incorporating a blog into your business website can be one of the best investments you make. While it takes a lot of work and time for the results to show from blogging, the results are definitely worth it.



Why your blog will work

A blog is a low-cost (often free) form of marketing that can produce significant results such as long term relationships with customers and an increase in traffic. When you set up a blog, you can easily (and continuously) update content and publish it for your customers and viewers to see.

By having control over the content, you can update and inform your customers about new products, services, and promotions. Blogs are great because they can spread quickly across the Internet. So long as they have quality information that is worth the reading, you can gain and retain the attention of fleeting Internet browsers.

Blogs are also a great advantage to have when trying to optimize your website for search engines. Blogs are screened much quicker than entire websites by search engines and as long as you have some sort of call to action in your blog posts, it can drive people to your website with established interest.

Blogs also help with establishing customer loyalty. They can be very interactive. For example, a customer can pose a question or request, and you can recognize that in a blog post. This makes that customer feel important and recognized – adding to your credibility and building on your relationship with customers. You can even use blog posts to give your employees some empowerment, have them write posts once in a while so your entire company can be heard.

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01/07/11--07:32: How To Build Customer Loyalty (chan 1625027)

There’s plenty of advice out there about how to build customer loyalty but it all basically comes down to one basic fact. The customer is the most important part of your business. As long as you do what it takes to satisfy your customer and keep him or her returning to your business, you have done your job.

I was recently asked the tricky question: “do you believe the customer is always right?” It took me a while to muster up a good answer. Truthfully I believe it’s a sign of a good company if they believe in putting the customer first. The customer should always come before anything, including you as a small business owner.

Here are a few tips according to smallbusiness.com about how to build customer loyalty:



1. Be true to yourself.

You must have a good sense of what your business is about and how you fit into your market or industry before you can articulate that to others. Your selling point should reflect your passion. If you're a restaurant owner interested in gourmet food, for instance, concentrate more on providing superior quality than speedy service or discount dinners.



2. Know your niche

Understand why you are successful today, what makes you different, and what brings repeat customers back over and over again. Is it exceptional quality, consummate convenience or great bargains? Even if you try to provide a little bit of all of that, you can't be the best at everything. Focus on the thing that makes you successful -- and make it better all the time.



3. Deliver what you promise.

Guarantee your products and services. Respect time constraints and budgets. After the sale, stay connected by inquiring about the success of the delivery and/or implementation. If something goes wrong, react quickly and compensate customers for any inconvenience. Solve problems before they are brought to your attention. Remember, most customers aren't likely to complain to you – they'll just complain to everyone they know.

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01/10/11--09:20: What Google’s Search Change Could Mean for Your Business (chan 1625027)

Google has made some changes that could seriously effect your business website’s search engine optimization. You’ll want to pay close attention here because if you’re like the rest of the small business owners out there – you’ve already put a serious amount of time and effort into optimizing your website for search engines.



What are these changes?

Google has been putting in some effort to make changes to their page-ranking algorithm. After the embarrassing incident with the shady eyewear company DecorMyEyes, Google responded rapidly by developing an initial algorithmic solution, implementing it, and the solution is now live.

Now that the new algorithm has been implemented, it may have altered the way search engine optimization experts adjust websites to raise their search engine rankings. One way of doing so would be to create an algorithm that detected merchants who “provide poor user experience,” and rank that site lower than others.
One theory according to Katherine Noyes for Entrepreneur.com, is that customer reviews and feedback are becoming a part of Google’s page ranking formula.



What does this mean for you?

As a small business owner with an online presence, it is important to watch the links that are attributed to your website. One of the number one negative contributors to a website’s search engine ranking is link acquisition from known link brokers and sellers.

So, what you can do is: stick to the basics. If you stay on track with your current seo efforts, you should be fine so long as you avoid any unscrupulous tactics like spamming or any black hat techniques.

It is more important than ever to be genuine online. If you are fake and using less than honorable tactics to raise your page ranking, Google will figure you out.

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01/11/11--09:23: How Your Business can Profit from a Blog (chan 1625027)

Your small business needs some personality. You need a way to connect with your customers and offer them more than just a product - offer an experience they will remember and refer to others. It is important to develop something unique that makes your small business the one to buy from.

Michael Cage, an avid blogger about entrepreneurship wrote a really great post on his site Entrepreneurs Life, about how blogging can return profits for your business. Although it may seem like a lot of work to keep up a blog, it can be one of the best business decisions you make as a small business owner.

Here is some of Michael’s great advice on blogging for your business:



1. When local retailer’s blog it gives your shop personality.

There’s a business principle that people like doing business with other people, not nameless, faceless corporations. Your blog is your local business’s “name and face,” and gives your customers and clients a way to interact with your business on a personal level. And the more personal they feel their relationship with you is, the more often they’ll chose you over “x retailer” down the road … no matter how cheap or fast or whatever that competitor may be.



2. Introduce new offers, specials and sales on your retail blog.

Instead of waiting until someone is in your doors to tell them about your new new product or service, tell them on your blog and bring them into your business.

For example, you can write a blog post that’s a version of, “The most common question I get asked is _______. So we searched far and wide for (the solution), and narrowed it down to (what you’re selling). Here’s why it’s great. And here’s what you’ll love about it. Come check it out.”

You’ll excite your loyal customers and clients who already know you provide quality products and services. And you’ll make prospects want to work with you because you’ve shown you have their best interest at heart. This is much more effective than the “here’s what we have, take it or leave it” approach most businesses take.



3. Blogging increases referrals and word of mouth marketing.

A viral blog post spreads. Which means word of your business spreads, too. All it takes is one great idea and one rant about it on your blog to increase awareness of your local business. Plus, you can actively encourage referals by making stars of your customers on your blog. For example, highlight a customer who achieved amazing results with something you offer.

When you make a big deal out of someone, they’ll want to make a big deal out of you by referring.

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01/12/11--08:35: What to Focus on When Using Social Media Marketing (chan 1625027)

The world of social media is vast and growing. Facebook with 500 million users leads the revolution that is disrupting advertising professionals, marketing experts, and small business owners alike. However, if you can embrace the power of social media and use it to your advantage, you might be able to see your small business jump ahead of the race.

If you use social media the correct way, that is to build and strengthen relationships, you can build brand awareness, loyalty, and generate word-of-mouth marketing. What better way to sell your product than to have your customers sell them for you?

Susan Gunelius of Entrepreneur.com gives some insight on how you can use social media to build your brand.



Branded online destinations


According to Gunelius, you should use the most effective social media channel as your “core destination.” For example, if you want to use Twitter over Facebook because you think it’ll reach more people in your target audience, have your ads and other promotions direct customers back to your Twitter page for the real information you’re trying to portray.



“Of course, for small-business owners without the manpower to effectively manage too many destinations, you should consider testing each of these to determine which social media service you're most likely to stick with over the long haul,” Gunelius says.





Locate your target audience and bring them back with you


You need to figure out who your target audience is, where they spend their time, what their trends and preferences are. You may be thinking – Geez that sounds like a ton of work – and to be perfectly honest, it is. If you want your marketing strategy to work, you need to put the appropriate amount of effort into the research portion of it.

According to Gunelius “One of the most important aspects to accomplishing this with your branded online destinations is to continually publish meaningful content that adds value to the reader's experience.”

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01/13/11--09:01: Why You Should Start a Business Right Now (chan 1625027)

Entrepreneurship can be terrifying. Venturing off on your own can be a scary step and it’s important to be confident in what you’re doing. If you’re tired of working for someone else, the suffocating limits, and lack of moneymaking opportunities, you should seriously consider the world of entrepreneurship.

Rosalind Resnick, author of “The Vest Pocket Consultant’s Secrets of Small Business Success,” wrote a great article featured in the Small Business section of The Wall Street Journal. The article is truly inspirational and has hard facts about why entrepreneurship could be the best route for you.



Liberation at its finest


Entrepreneurship can be the key to liberating yourself from that dreaded cubicle. As a small business owner, you’re free to “unplug and work anywhere there’s WiFi reception,” Resnick says. You have the luxury of working where you please–which can increase your efficiency and ability to focus on the crucial tasks at hand.



Give yourself a raise


If you own your own business, you call the shots and you take on all the risk. There’s no limit to your salary and a raise can be dictated based on your own actions and the opportunities you create for yourself.



“While getting a business off the ground is never easy, every dollar that you put in and every hour that you work is an investment that returns profit back to you,” Resnick says.



If you still feel uneasy about the idea of taking on the world with your hands in your empty pockets, think of it this way: a “real” job may only last about four years, and you’re not getting paid enough. If you own your own business, you’re absolutely entitled to reap the benefits of your work. Answering to someone else can only stifle your true capabilities.



Write offs!

If you’re the kind of person that responds better to hard numbers rather than abstract ideals, here’s some information you might want to pay attention to. Recent changes in the tax laws make business expense deductions pretty sweet. “Under expanded bonus depreciation rules, qualified investments in fixed assets, purchased between Sept. 9, 2010, and Dec. 31, 2011, can be fully written off for federal tax purposes,” according to Michael J. Goldberg of New York’s Ganer, Grossbach & Ganer LP.

All in all, starting a business isn’t about the benefits, or the adventure, it’s about you. You can use your small business as a test to show your true potential. Take some risks and see what you can do.

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01/14/11--08:43: How Social Media Marketing Can Neutralize Your Marketing Costs (chan 1625027)

Launching a new venture is a difficult process. Once you have completed everything you possible think you can and launch your new business, don’t be disheartened to see a totally anticlimactic response from your audience. You just need a little marketing.

Marketing is extremely important to the shelf life of your business. However, the idea of delegating a significant portion of your budget to marketing might seem a bit overwhelming. Thankfully, there is an answer to your problems.



Social Media Marketing


I have written extensively about the important of establishing a presence in the social media world, but now I will focus on how social media marketing can cut your costs and give you a chance to build your name without spending too much (if you do it right) – just a little peace of mind for the new business owners out there.

If you conduct yourself properly and implement a smart marketing strategy with social media, you may be able to bring down your traditional marketing spending to almost nothing.



Social Media Code of Conduct


However, because social media marketing is free, people have a tendency to think it’s easy to gain an audience. Thinking this way could end up costing you a lot of time and effort. So before you jump right in without any idea of the acceptable how-to’s, pay attention to the culture of social media.

David Meerman Scott, author of “The New Rules of Marketing and PR,” says:



“Think of social media as a cocktail party…you don’t go into the cocktail party and go into the middle room and scream at the top of your lungs and say, ‘Buy my products!’ What works is you have some meaningful conversation first. And that’s just how social media works.”



So, if you are interested in adding social media into your marketing strategy (because it’s FREE!), be sure to use free sites like Facebook and Twitter, focus most of your marketing efforts on participating in genuine conversation about your industry, and gain the loyalty of consumers based on your experience, knowledge, and ability to solve their problems.

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01/17/11--04:34: Why SEO is Still Just as Important as Social Media (chan 1625027)

Even if you have a social media marketing strategy for your online business (or business website), it’s important to continue organic search engine optimization methods. In order for your business website to become a worthwhile investment, it should be able to do all the work for you. Your website should be designed to be accessible to customers, and to convert customers.

According to certain SEO experts, Google still makes up about 75% of the search market. This means that using the power of Google is important for your business website’s exposure.

Small Business Trends is a great resource for budding businesses. Here are a few words of wisdom from Small Business Trends on how to use the power of search engine optimization to your advantage.



SEO Basics


Why is organic traffic still the most valuable? The first thing you ought to know about marketing online is that not all traffic to your Website is created equal. According to Aaron Wall, who is, of course, in the SEO marketing game, the difference between paid traffic and organic traffic is simple. It comes down to a question of value.

Search engines are still important, even in a Facebook world. Google may not be as important as it used to be, but that’s not to say you can leave Search Engine Optimization out when marketing your online business. In fact, the key concerns web developer Jon-Mikel Bailey often shares with clients about building their Web presence and the traffic that should follow are about equally divided.



Techniques

Do you believe in paid search? Organic traffic, that is visitors who arrive at your site due merely to the relevant search terms and generally the ease with which your site can be crawled and indexed via search engines like Google, may still be the best traffic in online marketing. But if you doubt the value of paid traffic, usually through pay per click ads and the like, a simple experiment could change your mind.

Blogging: Still the best search marketing strategy. Creating a blog has long been considered one of the simplest and best ways to engage in simple search marketing for your online business. Creating a blog for your brand or adding a blog to your Website will improve your Search Engine Optimization.

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01/18/11--09:05: How To Hire Great People and Make them Greater (chan 1625027)

Who should you hire? Such a complicated question – a person you hire could mean anything from your new small business propelling forward in a new direction or your new small business chugging straight toward a dead end.

If you are a small business owner, the people on your team are so incredibly important to the success of your business. It is crucial (and also highly difficult) to hire people that will add value and substance to your business.

So how do you do it?



Share your vision


I recently attended a lecture on entrepreneurship given by William J. Rossi, a program director and professor at the University of Florida. His lecture explored the attributes and mindsets of entrepreneurs. The most important attribute Rossi discussed was the ability an entrepreneur has to share his vision with his employees, and make them feel like a part of something bigger.

The greatest entrepreneurs have a vision. They visualize and imagine a direction they will travel in that will eventually better the quality of life for consumers. So what does this have to do with hiring the right people into your business?

A truly successful entrepreneur understands the importance of motivating others. People in managerial positions give their employees deadlines, expectations, revision requirements, etc. Entrepreneurs however, trust people to do the job themselves, but it’s more than that – entrepreneurs give their employees a reason to do a good job, they are part of the vision.



“A leader focuses on motivation and inspiration. He energizes people to overcome bureaucratic, resource and political barriers because they believe in an agenda and want to accomplish it,” Rossi says.





Hiring the right person


So to tie it all together, when you hire someone who you believe to be qualified for the position, you have to take it a step further. You have to invite your employees to contribute to the overall direction, ask their opinions, take their advice, and allow them to participate in the bigger picture. This could apply to anyone, whether they work in marketing, finance, sales, manufacturing – everyone should be passionate about the “vision” you have created.

By giving people an overall sense of purpose, they are more likely to excel at individual tasks. When someone feels like they are a part of something bigger than themselves, they will undoubtedly do everything in their power to succeed.

Be a leader, not a manager.

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01/19/11--09:06: How To Hone Your Marketing Skills (chan 1625027)

If you feel like your business's marketing strategy is lacking and your business is not getting the attention it needs, it is important to review the skills you need to market your products and services effectively.

Marketing takes a certain amount of skill and tact. You have to know what works and what doesn’t before you create your marketing strategy. Here are a few characteristic skills you need to hone before your marketing efforts see any results.



Marketing and sales must work together


While it is important to distinguish the fact that marketing and sales are two very different avenues for a business owner to explore, they also need to coincide with a common goal. Your marketing team should respect the values and experiences of your sales team.

Sales people work with customers much more often. A successful sales person knows more about the target audience and loyal consumer than any well-researched marketer out there because sales people witness customer feedback firsthand. While your marketing strategy should still focus on gaining customer loyalty and increasing your brand equity, consulting with the sales people in your company can provide a unique perspective, and give a voice to the consumer.



Understanding social media marketing


It is also extremely important to have a clear understanding of the power of social media marketing. A social media marketing strategy should be implemented over the span of one to two years. Any results before that time will be minimal. While you may be a little apprehensive at the idea of putting forth effort for a year or two without expecting results, be aware that social media marketing can increase your brand’s reputation, your search engine rankings, and if done properly – your revenue stream.

If you choose to implement a social media marketing strategy, choose a few main channels such as Facebook, Twitter, and a blog. Use these channels to connect with your audience and gather as much information and feedback as you can. If your audience is convinced that your brand is there to help better the quality of their lives, you will have a leg up on your competition who, by the way, is probably already on Facebook.

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01/20/11--05:36: How To Make Your Website More Valuable to Customers (chan 1625027)

If you have recently started up your own business, you need a website. With the amount of consumers that are embracing the world of e-commerce, you really can’t afford to be inaccessible online. Even if you don’t have an e-commerce option on your website, it should still be there for information and interaction with consumers.

There are several different factors that go into building a website for your business. You need a simple design that’s easy to navigate, quality content that can convert browsers into buyers, and an option for customers to provide feedback and opinions.



Web Accessibility


One of the most important factors of building your website is optimizing it for search engines. In order for people to find your website, or even know it exists, it must be available for consumers after they conduct a search to find the product or service you offer.

There are several different components that add to your search engine rankings (how high you appear on search results). Quality content and copy is of the utmost importance. Conducting thorough keyword research and creating unique title tags for your web pages can sincerely make a difference in your visibility online.



Social Media

Recently, search engines are using social media as another way to rank websites. If there is a lot of positive feedback regarding your website, product, or service, you will be ranked higher on search engiines.

Using social media as a source to drive traffic to your website is another reason why you should have valuable content within your web pages. If your audience takes the bait and ends up at your website, they should be satisfied with the valuable information that you offer.

It is important to provide information and instigate 2-way communication with your audience, whether that be through Facebook, Twitter, or your own blog. Nick James of Webcredible.co.uk says:


“Obviously, if you're providing a useful resource for users, whether through a blog, regularly updated articles, or just the core pages of your website itself, then you'll inevitably develop a base of regularly returning readers. If you're actually selling something through your website then this increases the opportunities for successful conversions.”

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01/21/11--08:19: How To Build A Brand That Stands Out Online (chan 1625027)

Starting your own business can be difficult. What’s even more difficult is getting the attention of your consumers after you've established your business. Developing a brand reputation is tricky business. Thankfully, there are some answers.

Building your brand is so much more than having a solid business website and a Facebook page. Many new business owners tend to focus on the aesthetic appeal of their business's presentation. If it’s online however, you should be focusing more on interacting with your customers than your appearance.



It’s a 2-way street


I was told the other day that advertisers are starting to omit the word “advertising” from their strategies. It’s now “strategic communication,” the point being – it is now a way to communicate the benefits of your business to your consumers AND to encourage communication from your consumers themselves.

In order for people to consider your company worth associating with, they need to be able to trust you. Customer skepticism and competitive clutter is worse than ever before, so you should be giving your consumers every reason possible to trust you.

As for social media, it’s not enough to simply have a Facebook page with your business information on it. It’s more about the social media experience for consumers who visit your page.

Ed Roach, founder of The Brand Experts, a brand management consultancy in Ontario says:


"Social media has one very important perspective to share with brand management—the conversation. Like branding, social media is all about the conversation and building effective relationships. They are perfectly suited to one another."





The online market

Having your business available online is extremely crucial. However, you need to be tactful and smart because the online marketplace is extremely crowded and heavily cluttered with junk. It’s important to be persistent when marketing your brand online.

"Marketers struggle with differentiation because they give up too soon," says Derrick Daye, managing partner of The Blake Project. "They think that this can't be differentiated, it can't be unique."

You have to be creative with your marketing strategy. Figure out what makes your company different, and zero in on those attributes.

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01/24/11--09:32: What's Your Entrepreneurial Personality? (chan 1625027)

Do you think your personality has what it takes to become a successful entrepreneur? According to Entrepreneur.com, your personality has a lot to say about who you become, the potential you have, and how successful you will be.

It has been shown in various studies that certain personality traits can outshine shortcomings in education, skill, and experience. It also makes logical sense that if a person chooses a business venture that coincides with their personality, he or she will experience a greater amount of success.

Entrepreneur.com explores four general personality types of people who typically start, own, and run the majority of successful businesses. Read Entrepreneur.com’s summation of entrepreneurial personalities and see if you have what it takes:



1. The Trailblazer:

You are very competitive, ambitious and goal- oriented--so much so that you tend to be aggressive and sometimes take a steamroller approach. Independent, persistent and decisive, you aren't happy unless you're in charge. Trailblazers are logical, analytical, practical and realistic--you tend to base decisions on facts rather than feelings. You are a calculated risk taker.

Good industries for you could include the medical, technology, finance, legal and consulting fields. Being a strong strategic thinker, you focus easily on marketing strategy and operations. Your challenge is likely to be working with people--you are usually a better leader than manager and need to surround yourself with others who can manage the people side of the business.



2. The Go-Getter:

You have a higher-than-average level of both dominance and sociability and are very driven and independent. You are competitive, but your drive to succeed is sometimes tempered by your interest in and concern for others. Go-Getters are typically good leaders and good managers, excelling at motivating themselves and those around them.

You can do well in retail, but may prefer being the outside rainmaker. You work well in ambitious and unfamiliar environments. This means you can invest in, buy or start a business that's totally new to you and still make a success of it. You don't need to be an expert in the field to start the business--you are a good collaborator and can learn as you go.



3. The Manager:

You are dominant and independent. You are also very goal-oriented and can be quite analytical, focusing more on processes and outcomes than on people. You have a tendency to look at people as vehicles for helping you accomplish your goals. You can deal well with customers, especially repeat customers, so you'll probably be great at growing a business.

You like doing things on your own, are a great behind-the-scenes leader and love working with systems, concepts, ideas and technologies. You excel at competitive selling because you enjoy overcoming rejection and achieving goals despite obstacles. Managers enjoy working by themselves, and managing others can be a challenge, so you need to hire employees who are better than you at listening and working well with others.



4. The Motivator:

You have a high level of sociability, an above-average level of dominance, and are both driven and independent. This gives you the ability to work well under pressure and in autonomous situations. It also means that you will be a great consensus builder, a good collaborator and a driver of change. Just like the name suggests, you are the consummate motivator who does well working by, with and through others.

Motivators excel at leadership or sales. You can be convincing and avoid most confrontation by creating a strong emotional argument. Motivators do well in the toughest of customer service roles, as you are able to see both sides of the argument. You do well in business with partners, or in a business that involves others. Motivators are good at nurturing relationships and often do best in a business that involves keeping clients for the long term. You thrive in a team environment.

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01/25/11--09:20: How To Be the Right Kind of Business Owner (chan 1625027)

Owning your own small business entails a lot of responsibility. Truthfully it can be a very lonely path. You have to have all the right things going for you, the right personality, the right skill set, the right exposure to the right industries. It’s all very complicated.

But! It can be simple. You just have to understand that your role as a business owner is completely different from that of an employee. You have to think bigger than just deadlines or driving traffic to your business website.



How to think big


Before you choose to start your small business, you have to use the kinds of skills and habits in your every day life, even if you’re still working under someone else. Chris Brogan puts it in better words than I can:



“I took on challenges that other project managers didn’t find interesting. I took on messy projects that had a high possibility of failure. And sometimes I failed. But because I stepped up, I was noticed, and I got more and more power.”



That’s just it, stepping up. Having been a competitive athlete my whole life, I’ve heard it all. I’ve heard just about every motivational quote out there. The one that sticks with me most because I can apply to my daily routine is:

“Success comes from taking on tasks no one else wants, and completing them well.”



How to seek opportunity


In order to be successful in your business venture, you have to see the opportunities when others don’t. You find dollar signs hidden within your customer’s complaints. Your main priority should be solving your customer’s problems, or making yourself more accessible to customers and their needs.

Your business should represent who you are as a person. If you decide to own your own business, you need to market yourself and your brand as a resource to customers with specific problems. If you find a way to better the quality of life for you customers, you have found the perfect opportunity.

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01/26/11--08:40: How To Make People Buy From Your Website (chan 1625027)

Picture this: You’ve finally set up a website for you small business, you’ve hired the best designer in town…and nothing’s changed. If this sounds like you, you’re pretty much stuck until you gain control over your content.

As a business owner with an online presence, having the authority and access to your web content is crucial to your website’s success. If you want a professional site that successfully represents your company, brings more customers to your business, and increases your revenue stream, there are a few techniques you need to use.



Use a Content Management System


It’s your website. Essentially, it’s another branch of your business. Because it’s not quite as straight forward as your brick-and-mortar location, you might not realize exactly how much work goes into making your website an effective location of commerce.

If you have a content management system, you can easily update content to keep up with the ever-changing consumer demand. You also have control over the keywords, meta-tags, and meta-descriptions that drive traffic from search engines to your site. This is important because keywords are always changing and your website needs to change with them.



Eliminate Clutter


Definitely avoid using industry-specific jargon. People are interested in buying your product to solve a specific problem. If you clutter up your content with too much information that is beyond the level of even the most basic customer, they can quickly be put off by it. In the simple words of Jen Udan from ChooseWhat.com:



“If they don’t understand what you’re selling, they won’t buy.”





Keep Your Website Simple


While flashing lights and fun graphics are always cool, they might actually render your site ineffective. People are looking for answers to their questions when they reach your website. If at anytime they feel confused, it doesn’t take much for customers to leave your website and visit a competitor’s.

Make sure everything on your website is clear. Your homepage should have basic information about your product and its benefits. In addition, every page should have a clear call to action. This call to action needs to be identified by you, the business owner. What do you want your browsers to do after reading your information, call you? Subscribe to you? Order from you? These questions need to be answered before writing any content because it should provide the framework in which you write any and all of your information.

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01/27/11--05:36: How To Expand Your Business (chan 1625027)

Do you want to make money? Let’s say you have already established your small business but now you’re trying to expand your customer base and grow your business. In addition to an increase in your marketing efforts, there are many ways you can grow your business.

The Small Business Administration has a post on their website giving us aspiring small business owners a few ways to grow our businesses. The method you choose can very well depend on what type of business you have, how much capital is available, and the time and resources it may take to follow through.

Here are some ideas for growing your business from the SBA:



Open another location.

This is often the first way business owners approach growth. If you feel confident that your current business location is under control, consider expanding by opening a new location.



License your product.

This can be an effective, low-cost growth medium, particularly if you have a service product or branded product. Licensing also minimizes your risk and is low cost in comparison to the price of starting your own company to produce and sell your brand or product. To find a licensing partner, start by researching companies that provide products or services similar to yours.



Form an alliance.

Aligning yourself with a similar type of business can be a powerful way to expand quickly.



Diversify.

Diversifying is an excellent strategy for growth, because it allows you to have multiple streams of income that can often fill seasonal voids and, of course, increase sales and profit margins. Here are a few of the most common ways to diversify:


• Sell complementary products or services
• Teach adult education or other types of classes
• Import or export yours or others' products
• Become a paid speaker or columnist

Target other markets.

Your current market is serving you well. Are there others? Probably. Use your imagination to determine what other markets could use your product.



Merge with or acquire another business.

Two is always bigger than one. Investigate companies that are similar to yours, or that have offerings that are complementary to yours, and consider the benefits of combining forces or acquiring the company.



Expand to the Internet.

Very often, customers discover a business through an online search engine. Develop your business website and optimize it to increase your exposure to your customers.

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01/28/11--07:40: How To Find Customers on Facebook (chan 1625027)

By now you should know how crucial it is to set up a Facebook page for your business. You may have already done so. I’ve also stressed how important it is to participate in conversations with people interested in your product and people in your industry.

Now, you may be wondering – how do I find people to talk to? – great question. There are several things you can do to find consumers to connect with and increase your consumer base in your social media network.



How to find customers


Marketing and advertising used to be about providing information for consumers so they can choose which brand to go with. Nowadays, it’s more important that a brand or company seeks out its own consumer base and provide them with solutions.

In order to find your own customer base, you can start with the Facebook directory. Go straight Facebook’s login page; at the very bottom there is a small horizontal menu on the right side. Click on “Pages” to see a Facebook directory of every page in existence on Facebook. Here, you can search alphabetically for any other company or brand related to your product.

You can also search for people and groups you may be interested in connecting with. Once you start conversing with people and contributing valuable posts on other walls related to your product, you should be able to see an increase in interest on your own page.



Be prepared to receive new customers


Before you seek out people to talk to, it’s crucial to have a well-designed Facebook page. Make sure that when people click the link to your business’s Facebook page that they don’t land on your wall. This can be a quick turn off to new customers because they have to search for the information they need. Instead, have your info page come up first (you can change this preference in your settings). This way, you can give your customers a brief overview of what you’re all about before they dive into the conversation or seek out promotions and special offers.

Be consistent about posting fresh and valuable information. You will lose customers if you just leave your Facebook page unattended. Spend a few minutes a day to continuously update your content and drive more customers to your website.

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01/31/11--10:00: Start-Up Mistakes To Avoid (chan 1625027)

It’s the start of a new year and maybe you have decided to start your own business. Or perhaps you’re already through the start-up phase and you’d like to see your business grow. New business owners often make the same mistakes, you should know which ones to avoid and which ones you might already be making.



Don’t set your prices too low

When you first get started it can be difficult to set a price for your product. You might not be one hundred percent confident in your price range and it’s important to be very careful in price territory especially if you are in services. If you are just beginning, setting your prices too low can be disastrous because you might not know exactly how long projects can take or what kind of unexpected expenses might come up. So learn to be proactive and think of all contingencies before setting your price.



Be careful with details

You have to be meticulous about your records. Organization can be the key to the success of your business. If you are a service-based business, jumping right into the project without a signed contract or at least an outline agreed by both parties can be detrimental to the end result. Be aware that you can get burned and you need to cover all of your bases before offering your services to anyone.



Update your business model

Your business model should be an ever-evolving idea. Every day you should experience things that give you an idea of how to better your business model. Customers like proactive companies that are continuing to try and get better. It will increase your brand equity and consumer opinion if you ask for feedback and update your business model. If you are too stubborn to quickly abandon something that clearly isn’t working, you’re setting yourself up for business failure.

If you ever get discourage because you knew you made a big mistake and it set your business back significantly, remember this: “failure is compost,” there’s no better way to grow your business than on the foundation of mistakes you learned from and improved upon.

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02/01/11--08:55: How To Get People to Bookmark Your Website (chan 1625027)

Do you want people to bookmark your website? By that I mean do you want your website to be a site your customers visit everyday, just to see if anything new has been added? Read on if you are interested in improving your business’s website to have more loyal customers and gain new ones.



Constantly communicate


Entrepreneur.com agrees with me in that blogging everyday should be a no-brainer. If you feel that your homepage should stay the way it is for a while and you have nothing additional you need to add, you absolutely should be blogging everyday. Posting something new and fresh each day will give people incentive to visit your website at frequent intervals. However, you won’t get returning browsers unless you offer something new and exciting with each post. The content you create with blogging and updates should be dynamic, unique, entertaining, valuable, and easy to understand.

Try highlighting a customer every week. Interview them, get some feedback, and then write a post on how your product is continuing to help them. Or talk about how your product got started, what mistakes you’ve made and how you’ve fixed them. There are so many different angles you can take to keep driving customers to your website.



Create a community


If you have dabbled in social media marketing, you understand how important it is to the success of any online location to build a community. Communities have a certain language, people within a community provide information to each other and engage in conversations about certain products and brands. If you encourage a sense of community around your website, you will increase your customer loyalty and provide a sense of belonging to new customers who are considering your product.

Encourage discussion and devote time to ask for feedback and provide answers to those who ask questions. Source people who give you feedback as often as possible. You can even provide an opportunity for customers to submit ideas or designs for your next event or campaign. If you make your customers feel like they are a part of your brand, your customer base will stay strong and continue to grow.

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02/02/11--09:17: 3 Steps to Take BEFORE Setting Up Your Business Website (chan 1625027)

If you are starting a business online, you should be using as many resources as possible. Entrepreneur.com is a great resource for aspiring small business owners and new entrepreneurs. Allen Moon, the founder of On Deck Marketing (an internet marketing agency that specializes in product marketing strategies, e-commerce and online marketing), wrote a great post specifying each step you can take to set up and run a business online.

I decided to use a few of the steps to help you prepare before you set up your online business. These three steps from Moon’s original post are the most fundamental things you can do before you’re ready to set up your online business.



Step 1: Find a need and fill it

Most people who are just starting out make the mistake of looking for a product first, and a market second. To boost your chances of success, start with a market. The trick is to find a group of people who are searching for a solution to a problem, but not finding many results.



Step 2: Write copy that sells


There's a proven sales copy formula that takes visitors through the selling process from the moment they arrive to the moment they make a purchase:


1. Arouse interest with a compelling headline.
2. Describe the problem your product solves.
3. Establish your credibility as a solver of this problem.
4. Add testimonials from people who have used your product.
5. Talk about the product and how it benefits the user.
6. Make an offer.
7. Make a strong guarantee.
8. Create urgency.
9. Ask for the sale.

Step 3: Design and build your website


Once you've got your market and product, and you've nailed down your selling process, now you're ready for your small-business web design. Remember to keep it simple. You have fewer than five seconds to grab someone's attention--otherwise they're gone, never to be seen again. Some important tips to keep in mind:


• Choose one or two plain fonts on a white background.
• Make your navigation clear and simple, and the same on every page.
• Only use graphics, audio or video if they enhance your message.
• Include an opt-in offer so you can collect e-mail addresses.
• Make it easy to buy--no more than two clicks between potential customer and checkout.
• Your website is your online storefront, so make it customer-friendly.

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02/03/11--09:03: How Your Online Business Can Have Great Customer Service (chan 1625027)

Having good customer service is absolutely critical for the success of your online business. You may have a great product and a strong customer base, but being able to solve customers’ problems as they come up can be the key to your success. Many businesses rely on computerized systems to deal with inquiries and the like, but this can actually prevent you from providing effective customer service.



Relationships


It is preached to the point of overkill, but customer service is really just a waste of time if you aren’t personally dealing with the customer. Developing a personal relationship with customers is important because of the amount of purchase hesitancy that is involved with online businesses.

If a customer ever has an issue, and inquiry, or a complaint, you as the business owner should invest some time into solving their problem. When people see individuals higher up on the ladder investing time in their consumer base, it sends a really strong message – that of a company that actually cares about the product they’re providing people.

Many consumers distrust online businesses because of the amount of scams out there. It’s easy for a business to set up shop online, make a transaction, and virtually disappear if that buying customer ever has any issues with the product.



Make Customer Service Unnecessary


While developing relationships out of your customer inquiries may sound like a lot of work, there are ways you can minimize the amount of customer coddling you’ll actually need to do. If your website is functional, simple, and informative, customers will be able to answer their questions themselves.

Your website should be well designed with easy-to-understand descriptions of the product, price, size, shopping carts, and anything else a customer might need to know during a purchase, like return policy or warranty information.

Your reputation is at stake when it comes to customer service. Consumers are quick to judge and often judge harshly. By demonstrating the willingness and ability to provide customers the answer they need, your brand reputation will be enhanced and consumers will affectionately recommend your brand to their peers.

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02/04/11--07:49: Verizon's iPhone 4 Advertising Strategy (chan 1625027)



There has been an incredible amount of buzz around cyberspace about Verizon’s launch of the iPhone 4. Many customers logged on and snagged their new phone at 3 a.m. on February 3rd. However, their cries of joy were soon snuffed out by the amount of outrage and frustration circulating on Twitter and Facebook of those customers who were confronted by Verizon’s website overload and inability to secure their new iPhone 4.

Verizon’s iPhone 4 available to existing Verizon customers for preorder, was sold out in less than a day.



Verizon’s Advertising

The first commercial launched by Verizon depicted a series of ticking clocks and countdowns in an effort to tease (and tease it did!) anxious Verizon customers anticipating their new toy.



Verizon has also been unleashing a series of new advertisements to promote the iPhone 4’s launch (I think this was totally unnecessary because the 6-month rumor did enough advertising for it anyway). The new advertisements are very competitor-oriented in that they completely slam AT&T’s network problems.

One 30-second commercial blatantly slams AT&T’s call-dropping issue. This is a clever strategy for Verizon to take up considering everyone already knows what features the iPhone has. How else can you promote it other than a ‘my network is better than your network, nanny-nanny-boo-boo’ strategy?

People have been furiously updating Twitter statuses and blogs with reviews of Verizon’s iPhone 4, now that the embargo on reviews has been lifted. The basic consensus is this: Verizon’s iPhone 4 is better for voice, worse for data.

Although the voice calls were reported to be very crisp, clear, and consistent, the data speeds have many (still) waiting customers a little antsy.

Walter S. Mossberg, a blogger for All Things Digital, says:


“AT&T’s network averaged 46% faster at download speeds and 24% faster at upload speeds. This speed difference was noticeable while doing tasks like downloading large numbers of emails, or waiting for complicated Web pages to load. AT&T’s speeds varied more while Verizon’s were more consistent, but overall, AT&T was more satisfying at cellular data.”



The Verizon iPhone 4 cannot do voice calls and data simultaneously and also only works in limited foreign countries, for voice calls only, and at very high roaming rates.

With the craze only increasing, I think it’s safe to say that Verizon’s marketing strategy was pretty spot on.

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02/07/11--07:43: How To Effectively Nurture Leads (chan 1625027)

If you are a business owner that uses emails to follow up on leads, it is important to understand how to effectively create engaging emails that encourage consumers to respond, rather than stop reading, as most consumers do.

You may be finding that consumers don’t even bother to unsubscribe, they just simply delete your emails before opening them. Brian Carroll, a blogger that focuses on B2B lead generation and sales leads, gives us some tips on how to properly nurture leads through email:



Tip 1. Stage in the buying process:

Be sure to provide different kinds of information to your prospect based on what point they are in the buying process. If you have a complex sale, the best way I know how to do this is to combine a human touch to build relationships with your lead nurturing message. If they are an early stage lead and they are just starting to get familiar with the business issues you solve, don’t send them the same copy that you would send someone who is on the verge of making a decision.



Tip 2. Industry vertical:

Industry information will more than likely tell you what pains your prospects are experiencing, while company size will give you a hint as to the resources they have available to tackle these challenges. Be sure to add this information to your marketing data often so that you can easily define your target segments based on these indicators.



Tip 3. Message style:

This is the hardest to get right. Each audience responds differently to style. That’s why you should test, test, test. Try different subject lines (this is my favorite relevancy booster - I find using the less marketing hype the better). Try different message copy and calls to action. The response to your A/B tests will help you understand which style is most relevant and effective with your audience. Try different mediums (don't rely on email only nurturing).

While these tips should prove very helpful in your lead nurturing efforts, email shouldn’t be the only channel you chose when trying to convert leads into sales. Try following up with leads through social media marketing. Discussing your product through social media networks with customers can not only give them a better idea of why your product can help alleviate their pains, but can illustrate why your company is the better choice among your competitors.

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02/08/11--07:23: Why Your Small Business Needs A Website - NOW (chan 1625027)

There has been a tidal wave of blog posts throughout cyberspace discussing the idea that a business does not necessarily need to have its own website if it is able to effectively establish relationships via social media. While social media can be very effective in marketing your product, I am here to tell you why a business website is an absolute must.



E-Commerce


Your website is just about equivalent to your brick-and-mortar location in real life. It is a location where people end up (hopefully – if you’ve optimized your website correctly) after seeking out your product or service, receive viable information, and make the decision of whether or not to commit and purchase.

Your website should have your brand personality written all over it. It should be professional, and reflect what your business is all about. Facebook and Twitter can be very limiting in this aspect. Also, customers are used to shopping online from an actual website. Do you really expect people to find out all the information necessary to make a purchase from you on Facebook? You should use Facebook to guide people to where the magic happens – your business website.

You need to have a website that users can trust and give people incentive to give you their email accounts so you can follow up with promotions and personal offers. Social media is so open and public that people should very well be hesitating to make high-involvement purchase decisions after reading a few wall posts on Facebook.



You don’t own your social media site


It’s important to understand that while you have many options to customize your Facebook and Twitter profiles, they are still third-party sites. If people are discussing your brand or product, it seems a little silly to refer people to your Facebook profile rather than your business website, it’s less professional.

This isn’t to say you should disregard the potential social media has to generate your leads. You absolutely should establish relationships and participate in conversations through social media, but ultimately, you should be driving those leads and conversations toward your business website, that’s where the transactions should ultimately take place. Your business website is your property and it represents your brand, use it wisely.

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02/09/11--07:54: How To Turn Browsers into Buyers (chan 1625027)

Once you have set up your business website with e-commerce capability, you need to be able measure some returns. Why is it that browsers mill about your website and then bail as soon as they need to make a decision? What can you do to get them to subscribe to you, purchase from you, and give you their information?

There are several things you can do to convert more customers. WSI Marketing has some great tips on their website on how to increase your credibility and provide a positive online experience for your customers, which will undoubtedly increase your conversion rate and your online business’s ROI.



Improve your business credibility


Is your website professional? According to WSI Marketing, “consumers can be skittish, especially online. The slightest sign of impropriety can send them back to their search engine results to find another site, which may have a more professional and trustworthy appearance, even if it means paying a little more for the same product or service.”

You can make very simple improvements to your website to increase your credibility in the minds of your consumers. Some of these improvements include:


• Consistently display contact information like telephone numbers for your business.
• Post genuine testimonials and case studies of customers that are happy with your product.
• Have an organized and easy to navigate website design, nothing too flashy or distracting from your main objective.
• Have complete product information.
• Double check all of your links and make sure they are working.

Have control of your website


If your web hosting service requires a fee every time you want to make a change, it can detract from the effectiveness of your website. It’s extremely important to have a content management system that allows you to have total control over your website content. You need to be continuously updating your content as you discover issues that your customers are having.

If you notice that you are getting a solid amount of website traffic but people simply aren’t buying, you need to have access to your content in order to make improvements to solve that problem. Also, if customers are asking the same questions (such as what is your warranty policy?), you should have the answer readily available on your website.

The key is to be adaptive. Be aware of what your customers want to know and need to know before making a purchase. Continuously updating the content on your site is the best way to convert browsers into buyers.

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02/10/11--08:38: Top 3 Small Business Ideas for 2011 (chan 1625027)

If you are an aspiring entrepreneur, 2011 is the best time to start a business. If you’re tired of working in a managerial environment and you’re ready to take on a market, you should start exploring some ideas. Before taking off into a new venture, you need to be aware of what kind of opportunities are excelling in the market this year.

The Noobpreneur Business Blog posted 10 great ideas for budding entrepreneurs everywhere to consider. Read on to see the ones I thought were the most opportunistic for 2011.



1. Online business and make money online

Online businesses will always thrive so long as our society continues to depend on technology the way it does today. People search for products, brands, prices, reviews, and just about everything they need online. Your online business can be very lucrative because it is more cost-effective (if executed properly) than a brick-and-mortar location. If you set up your small business website, make sure you maintain control over the content so you can adapt to the changing environment and evolving consumer preferences.



2. Personalized products and/or services

There is a growing need for expressing individuality in today’s market. Customization is always a great way to please your consumer base. Offering a product your consumers can design themselves is almost a guarantee of customer satisfaction and word-of-mouth marketing. The opportunities are limitless here. You can offer t-shirts, greeting cards, school supplies, really anything that someone can personalize – you can take advantage of.



3. Small business with a cause

I recently learned of a non-profit organization that offers a free online game similar to Facebook’s Farmville. This game allows the user to build villages and actually purchase provisions for the village. By making donations and purchasing provisions through the game, the game hosts purchase real life provisions and provide them to a needy village in Uganda. Once the village is self-sustaining, they can move on to another village. They then take pictures of the provisions being provided to the village in Uganda, and post them so the gamers can see them and be involved in the whole process.

Offering an abstract incentive to buying your product can go a very long way towards your business success. If you embed a social cause into your products and services, you will have happy customers.

There are so many opportunities for you to take advantage of. Setting up your business is the easy part – it’s finding an idea that’s difficult. All you have to do is pay attention to a problem in the market and figure out a way to solve it.

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02/11/11--08:10: How To Balance Your Business and Your Marriage (chan 1625027)

In lieu of Valentine's Day next week i decided to cover a topic a little closer to our hearts. How do we business-oriented people balance our relationships and our professions? This sort of advice can apply to any career-oriented person, not just the newly budding entrepreneur or over-achieving small business owner.

Entrepreneur.com recently posted an article that discusses the ultimate business question: how do you balance your business and your personal life? Any mentor will tell you that owning your own business can often strain even the best marriages. The article shows how three couples manage to balance romance and business.



Couple #1

Travel often comes with the territory when you own your own business. Entrepreneurs Peter and Susan Fuller (married for 18 years) have firsthand experience. They each own a separate business in Indianapolis and Peter is forced to travel frequently – one of the number one strains of any relationship, especially if there are children involved.

Peter felt he was doing his best to stay connected but once he slowed his business travel to once every six weeks, and supplemented the time apart with Skype video calls, the couple was able to regain their passion.



Their advice:

in any relationship it’s important to have similar goals, like having the freedom to create their own paths in life.



Couple #2

Another struggle couples often go through when business is involved is the failure of a venture. Dediako Rogers watched helplessly as his real-estate business plummeted in 2008 after the housing-market collapse. He and his wife, Rachel were newlyweds and were constantly cutting expenses in every way they could, including downsizing their home and sharing one vehicle.

The couple was able to get back on their feet after Rachel received her law degree and started a law firm serving Gen-Y entrepreneurs and business owners.



Their advice:

Being married to another entrepreneur is helpful because you understand each other’s drive to run their own business. Be supportive of each others’ pursuits and encourage each other to start new businesses and try new things.



Couple #3

One of the most unlikely strains comes from being married to your business partner. It can make it difficult to keep business from becoming involved in every part of your life. Jessica Rovello and Kenny Rosenblatt met while working at a tech company and launched an online gaming business in 2001 together. They married in 2004.

The two experienced difficulties when they caught themselves bringing their work home.



Their advice:

Respect each other’s passion for your professions. It’s important to balance work topics with fun topics as well.

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02/14/11--06:48: Why You Should Own Your Own Business Today (chan 1625027)

Besides the fact that many people are reporting an improvement in the economy, there are so many reasons why you should set up your own business. There are plenty of problems in the market, if you could set up a business focusing on solving that problem, you’re good to go.

Allbusiness.com wrote a great article on the top 10 things small businesses can be thankful for, so I’m going to give you 5 of these blessings as reasons you should go into business right away.



You are your own boss.

The best part of running a small company has always been that you're in business for yourself, not someone else. So go ahead, take Friday off -- the boss won't mind. You are a part of a team that shares a vision. You focus on innovation, motivation, achieving the same goal as your peers – rather than an administrative environment where everyone is focused on meeting deadlines and climbing their way up the ladder.



Small is the new large.

Revolutionary changes in technology -- including the increasing consumerization of business tech, the rise of cloud computing, and Software as a Service (SaaS) are dramatically cutting the cost of equipping a business and building a computing infrastructure. Best of all, these trends seem tailor-made for the needs of small businesses -- especially startups -- not saddled with the legacy systems that can hinder many older, larger companies.



The economy really is getting better.

No doubt about it, things are still tough for many people, but there are more and more positive signs out there, boding well for companies large and small. The major stock market indexes have shown surprising strength, credit card issuers report that delinquencies have slowed, and U.S. retail sales currently stand at their highest level in more than two years. That's all good news for small businesses, especially consumer-facing firms. Even as most prices small businesses pay remain low, some small businesses are reporting that they've been able to increase profits by raising prices.



The Internet and social media.

From Facebook to Twitter to eBay to email marketing, the Internet's impact on small business is impossible to overstate. The Internet has made it possible for even the smallest companies to sell their products and services around the world, to work with suppliers and employees in remote locations, and to inexpensively market to millions (or billions) of people at once. On the Web nobody knows you're a small business -- in many ways you're competing on a level playing field with the Fortune 500. And that's not all. The Web also makes it easy to get the information you need to make your business successful -- not to mention network with your peers for advice and support.



Great employees.

Small business owners have the privilege of leading some of the most dedicated, resourceful, productive workers in the world. And unlike large multinational corporations, small businesses often get the opportunity to work directly in cooperative teams with their employees, free of much of the bureaucracy and red tape that hobble bigger organizations.

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02/18/11--08:57: How to Execute a Successful Social Media Marketing Campaign (chan 1625027)

Having a small business can be very rewarding but it can also be stressful. If you are having trouble getting the amount of traffic your small business needs, it is time to invest in a small business website. Having a website is becoming a mandatory facet of success for any business. Once your business website is set up, you should begin a social media marketing campaign.

We've all heard the buzz about how important it is to invest time into social media. With these tips, you can learn exactly how to execute a campaign that will create enough word-of-mouth marketing that people will notice your business website and make the commitment to buy from you, not your competitors.



Learn to listen


Social media really is all about the social experience. If you want to gain more customers, you need to establish relationships online. It's no different than establishing a relationship in person. You wouldn't just walk up to someone and say "here's my business card, buy my product." You would take the time to get to know that person's interests before offering to help with a particular problem. This is why it is important to listen to your target audience rather than bombard your audience with links and offers.



Provide value


If you spend all of your time on Facebook posting links and advertisements, people will ignore you. There is enough advertising clutter throughout every day of our lives, we don't need it when we log into a social network as well. People will only be interested in what you have to offer if it is valuable to them. As a small business owner it's a given that you know a lot about your product and your industry. Share some of that information. If you give people a reason to listen to what you have to say, you've made it half way. After you get an audience's attention, the selling is easy.

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02/21/11--07:55: 3 Important Lessons to Learn Before Writing Your Business Plan (chan 1625027)

You can’t start anything and expect it to succeed if you don’t have a plan. After developing, nurturing and convincing yourself and all of your confidantes that your new venture proposal is an absolutely fantastic idea, you need to write a business plan.

There are many different views on how long this process can take, some say a few weeks and some say six months. It truly all depends on the kinds of resources you have available like time, money to conduct an effective amount of research, and the people you need to work with in order to create the best business plan ever.

Here are a few tips based on some advice from Tim Berry, founder of Palo Alto Software, about a few factors that make an effective business plan.



It must match the business purpose


Your small business should have an ultimate end goal in mind, whether the plan is to exit to get investment, create a self-sustaining charity, or whatever your goal for your business may be. Your business plan should be framed by your business purpose – where your business is going and what you want to leave behind.

Lesson 1: Your business plan must outline your company objective.



It must be realistic


Your business plan really won’t get you anywhere if your projections are off the charts. You may have a fantastic business plan with pretty charts and flawless formatting, but if you are presenting an idea for a product that simply cannot be produced, it’s not going to catch on.

Lesson 2: Step back and assess the feasibility of your plan.



It must be specific


According to Tim Berry, “every business plan ought to include tasks, deadlines, dates, forecasts, budgets, and metrics. It’s measurable.” This idea is so true and it’s amazing how many business plans leave out the crucial information. You can make your company sound great but if you don’t have the numbers backing up your projections, you might as well start over.

Lesson 3: Outline your business’s every detail

You have to give yourself the ability to track your results and see if you are in line with your projections and goals. You will most likely encounter set backs and a few failures here and there but if you have a solid business plan and structure in place, it won’t be difficult to reassess your business situation and get back in line.

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02/23/11--06:16: What to do in a Cash Flow Crisis (chan 1625027)

In the event your small business starts experiencing a lull in cash flow, you need to act fast. Even if you’re still profitable on paper, that doesn’t necessarily mean you have enough in the bank to pay the bills. Problems can arise especially if your company is successful, but your customers start slowing down their payments.

David Worrell of Allbusiness.com has a specialty in finance and managing small businesses. He wrote a great article on a few tips that can help you survive a cash flow crisis. Below are a few pieces of advice from David that may help to save your company from going under.



Know the numbers.

“In good times and bad, keep an eye on key cash flow numbers. I'm not talking just about a cash flow statement each month, but also about key ratios or metrics in your business. If you start this habit in good times, you'll have forewarning when cash turns against you,” David says.

His advice is extremely useful in this circumstance because new business owners have their focus spread out. It’s important to keep a finger on the pulse of your cash flow because you will be able to better sense an incoming crisis and have more opportunities to prevent it from happening.



Cut your own pay. Now.

“Besides taking pressure off of cash, this will motivate you to fix the problem. If you hide behind a salary – and keep building debt, or laying off staff to pay yourself – the problem will grow worse until it is out of control. Cutting your own pay also demonstrates leadership to your team,” David says.

This fact is extremely important to running and entrepreneurial business. As a leader, you need to demonstrate how important it is to work together with your team members. If that means your employees are paid and you’re not in times of crisis, so be it. They will be more motivated to stick with you and have a deeper connection with the business. Employees that feel as though they are a part of the company – rather than just employed by it, can help take a company to a much higher level.

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02/25/11--08:48: Why Do People Unsubscribe or Unlike? (chan 1625027)

If you own a small business, have a business website, and practice an effective amount of social media marketing, you should be well on your way to building a strong and loyal customer base.

Some small business owners however, start to experience a mass unsubscribing or unliking movement by their leads. As if all of their leads got together and decided to stick it to them by either completely ignoring the lead nurturing efforts, or unsubscribing all together.



Why does this happen?

There are a few reasons why people may ignore your updates, emails, and offers. However, the first and most important step you need to take in solving this problem is to be honest with yourself and see if you are doing anything to drive your leads away.



Email marketing mistakes


According to Entrepreneur.com, “the trigger that prompts 54% of consumers to unsubscribe is when the offending company bombards a subscriber’s email with too many marketing messages.”

So, are you bombarding your subscribers? If you are constantly sending emails without any valuable content in them, there is no doubt that they will eventually unsubscribe or ignore you completely.

You can fix this problem by asking for feedback about what kind of information they would like to receive on a regular basis, and by offering some deals and some incentive for your leads to actually open and read the emails you send them. Again, it’s about quality not quantity.



Social media marketing mistakes


The majority of Facebook users have “liked” a business page or two during their membership. Unfortunately, almost half of those who have liked a business page rarely if ever visit it.



“Not surprisingly, excessive posting accounts for 44% of the decision to ‘unlike,’ while 43% of Facebook users indicate their account is too crowded with brands” according to Entrepreneur.com.



The basic remedy for this problem is caring about your customers. People want a brand that cares about what they like, what they don’t like, what they want to know, and what they don’t want t o know. As long as you interact with people who “like” your business page on Facebook, they will interact with you and trust your brand.

You just need to make sure you are limiting your posts and providing engaging conversations and offers.

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02/28/11--08:31: How To Raise Startup Funds (chan 1625027)

Budding entrepreneurs are often faced with the ultimate barrier – having money to make money. While most mentors encourage entrepreneurs to use family, friends, savings accounts, and credit cards for startup capital, there are other alternatives to raising funds.

Here are a few options you have as alternatives to maxing out your credit cards or bumming funds from family and friends:



Do not pull out from your employer


If you are one of those budding entrepreneurs who finds opportunity inspired by a lack in your day job, you may have heard that it’s important to pull out from your employer in order to focus on your business plan. However, if you’re struggling to find capital to start up your business, your most prudent option is probably to keep your day job. You may have to work long nights as it usually takes just as much focus and work to finalize your business plan as it would to work 9-5 day job.

Just make sure your new venture isn’t getting in the way of your day job because scattering your efforts can lead you to mediocre performance in all areas rather than excellent performance in one main focus.



Pay your employees first


If you have already pulled out from your employer and have a fledgling company already up and going, it might be your best option to use the income from your acquired clients to finance your business expansion, rather than to seek external financing. Bootstrapping is an effective way to use your cash flow, at least temporarily. In order to put your company profits back into the business rather than your bank account, you’ll need to cut your expenses and really focus on acquiring leads.

There are many ways to cut expenses, like working from home rather than an office or even exercising deferred compensation with your suppliers.

As you are starting your own business, raising capital can be your number one priority as a business owner. Make sure you’re doing everything possible to cut expenses. You can easily cut your marketing budget by using social media marketing as your main channel for lead generation and brand awareness.

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03/02/11--09:14: How To Make Money From Social Gaming (chan 1625027)

If you are considering venturing out and starting your own business, you may be looking for some great ideas; one up and coming trend that is booming in the online commerce industry is social gaming. While Farmville on Facebook set the trend, many new social games are close behind.



Why social gaming can make you money


Social gaming is a huge trend. It is especially profitable because the target market that is now participating in social games is the younger Gen-Y group. This group has grown up with e-commerce and is much more comfortable with online transactions and are more often than not Internet consumers.

It is important to note that even though the middle aged generation may have more purchasing power and may be an easier market to target, the middle aged generation expresses much more hesitance when it comes to making monetary transactions online – which is why it is so important to hone in on those already making purchases via the Internet.

Social gaming is successful because the market enjoys playing virtual games, period. When a game gives an incentive to advance further and reap more rewards through a game (by way of paying a small fee of real money), it gives the gamer that much more of an incentive to spend money online.



How to make it work


If you choose to develop a social game, always make sure that your incentives for gamers to make purchases are valuable. Buying virtual goods can be a huge revenue source for you, so you should design your game around these virtual goods while also providing an exceptional customer experience.

For example, I mentioned in an earlier post about a company that allows users to build villages by buying virtual goods. The company uses the revenue made from users buying these goods to actually supply and build villages in need in Uganda. Once these goods have been purchased and delivered, the company will post and tag photos of these deliveries to keep the users involved. The users feel as if their purchases have value and rewards – a great way to give users an incentive to continue purchasing.

You will never make money online if you don’t give people a reason to buy. By involving your consumers in the bigger picture and making them feel like they are a part of something much more important than a simple online transaction, your business model will excel.

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03/04/11--07:37: How Social Media can Increase Productivity within Your Business (chan 1625027)

Many small business owners are already taking advantage of the power of social media in their marketing efforts, but many are unaware of the tools social media has to increase internal communications and productivity within your company.

As an entrepreneur, one of your main priorities is maintaining proactive communication among your employees. In order to lead an entrepreneurial venture, everyone needs to have a sense of alignment with each other rather than a hierarchical system. This can only happen with an effective amount of communication.



Using Social Media in the Office


Many companies use Twitter, Facebook, LinkedIn, and other social media channels to promote internal networking and encourage collaboration among different departments. This encourages stakeholders to participate and express their opinions. It gives everyone in your company a voice and an ability to be a part of the big picture – which is the key to having a great team and a successful company.

Instant visibility is one of the most useful aspects of social media. Posting something on a group wall is effective in that everyone can see it right away. Using file sharing techniques such as Google Docs or other programs is also useful that way various people can view, edit, and share important documents rather than waiting for documents to get passed around the office for approval – and you save paper!

Also, because many companies are using social media marketing, it can be beneficial for everyone in the company to have access and sharing ability on channels such as Facebook. That way, if any conversations come up about the company or the products the company offers, everyone can see it right away and take that information into account when making future product or marketing decisions.



Higher profits


Because everyone would be involved, have a voice, and have the visibility necessary – it can lead to an increase in collaboration and productivity. These are great assets to promote in a business setting because collaboration and efficiency can be your keys to increased revenue and profit.

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03/07/11--02:35: How To Cut Your Marketing Budget and Increase Sales (chan 1625027)

As prices all around us begin to rise, we start to get a little uneasy about budgets, pricing, and expenditures. Even though everyone is saying the economy is on the rise and us small business owners are on the upward trend, it’s always smart to cut your budget where you can afford.

Michale Kraus, a blogger, retail consultant, and marketing expert, wrote a great post for allbusiness.com that discusses a few ways you can cut your budget as a small business owner. Using these methods can not only save you money, but will be able to drive traffic to your business, convert leads into sales, and help your business grow in general.

Here are a few tips from Kraus:



Social Media

I continue to push the social media for two reasons:


1. It’s free
2. A whole generation of consumers live on social media

The evidence is mounting that social media does create awareness and can drive sales. And with 500 million Facebook users, not to mention millions of Twitter users,the growth of group buying sites like Groupon and Living Social, there are a lot of reasons to jump into the fray.



Email

Reaching out to your existing customers is key. After all, they already shop with you, so why not tap into this important market and give them a reason to visit? You can offer a deal, or perhaps your messaging is about a new line you brought in. Whatever you do, make sure you’re not spamming your best customers with too many emails, since you risk alienating them -- and that’s something you cannot afford to do in this fragile economy.



Bounce Backs

There’s no better way to communicate with a customer and get them back into your store sooner than with a bounce back offer. Hand them a simple printed postcard or other piece when they’re at the cash wrap. Then tell them about the offer (usually it’s good for a discount then next time they visit). The beauty is that you specify the offer and the time period they can get the deal. So push it out four weeks to drive traffic back into your store. Double down and use social media to remind everyone about the card they’re holding and when it’s valid.

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03/09/11--08:02: How To Stand Out and Increase Sales Online (chan 1625027)

Having a business website can be a huge cost advantage and very profitable. However, there are some downsides to it. For example, having a brick and mortar location in a high-traffic area can get you some great sales, but how do you get people to notice you on the web?

As a small business, you need to devote most of your time towards marketing your website to consumers that need your products or services. You just don’t get the natural traffic that larger brand names have and because of that – you have to work a little harder.



Stand out

It’s difficult to stand out on the web, but in order to appear higher up on a Google search (clearly a priority since most people never search past the second or third page of search results), work on your search engine optimization (SEO). SEO is the process of weaving popular search keywords into your copy so Google is more likely to rank your website above others when people are searching for something that relates to your brand, product, or service.

You can also use social media to your advantage by working a Twitter page or a Facebook page. Once you find people talking about issues that relate to what you’re selling, you can jump into the conversation and provide a solution. For example if you run a daycare business, listen to people speaking about the trials of having young children, join the conversation and offer a solution.



Encourage sales

If your site is easy to navigate, provides fresh (continuously updated) content, and unobtrusively directs people towards purchasing your product, you’re well on your way to having a profitable web presence. Your site must look professional, organized, and trustworthy. For example, if you can’t take quality pictures of your product, ask your supplier to send you some images you are allowed to use on your website.

There are so many little things you can do to engage your customers and encourage people to buy from your website and not your competitors. Take the time to review what you have, and invest the time to improve your business website and current market position.

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03/11/11--08:08: How To Perfect Your Sales Pitch On Your Business Website (chan 1625027)

There are several things you can do to improve your sales technique. While there are many resources online you can use to teach yourself how to perfect your sales pitch, I have compiled a few tips you can use on your business website to get more sales.



Be a good listener


While we all know that the most important part of a sales conversation is listening to your customers wants and needs, this can be difficult on a business website because it’s mostly one-way communication. However, if you have a forum, blog, or Facebook page, you need to act on it. Once you get your customers to tell you what they want, it can open doors to stronger relationships and a better sales pitch.



Find out why


Your landing page should give your overall information, but it should also guide your customers to the pages they really need. Figure out why your customers need your products. Send them to different pages on your website based on their particular needs.



Be a consultant, not a salesman

Only once you’ve found out enough about your customers wants and needs can you truly develop the perfect sales pitch. Because you are tailoring your sale to what your customer needs as exactly as you can, you become more of a consultant (a partner), rather than a salesman only interested in finalizing a transaction. This way, your customer feels more at ease and has a more pleasant experience when purchasing from your company.



Be proud of your product


Your sales pitch should demonstrate not only your knowledge of your product, but your love for your product. Customers are more likely to buy from someone who is personally testifying to the value of a product. If you have a high-involvement product, you should never feel the need to apologize for the price because you believe the price is worth the benefit your customer will receive from purchasing.

Having a business website can be a huge advantage. However, you can always increase the amount of sales you make if you improve the way you interact with your customers and explain your product.

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03/14/11--08:41: How Important Are Your Business Website's Interior Pages? (chan 1625027)

The other pages on your business website are just as important as your homepage. In fact, they may require even more attention than your homepage because they are more detailed and specific, rather than giving your customers a generalization of your product and company.

It is important to spend a lot of time and effort on your other pages because according to Entrepreneur.com, almost four out of every 10 visitors to a website enter the site from somewhere other than the homepage. This could be the blog, the about page, or even the sales page. That’s why it’s so important to make sure every page has an adequate amount of information – and it sells.

Review your web analytics and see what pages people are landing on when they first visit your business website. If it’s not your homepage, you have some work to do.



What to have on your interior web pages


According to Entrepreneur.com, there is a short list of absolute necessities to include on your interior pages. These are:


• Company logo and tagline
• Consistent navigation (including search)
• Call to action both above and below the fold (on the page before you scroll down and after)
• Clear, concise, compelling, and grammatically correct copy
• Consistent design and color scheme to establish brand presence, and
• Advertisements to promote featured products, services and special offers

Each page on your business website should clearly state what you offer and why it is beneficial to the consumer. It should guide the visitor to your product sales page with effective calls to action. Pay attention to small details, as they will help you in the long run.

Your business website and its accessibility is critical to your company’s online success. If each page doesn’t have the care and precision you’ve dedicated to your homepage, then you’ve wasted your time. Your business website is there to give a professional, valuable, and rewarding experience to your customers.

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03/16/11--08:47: 3 Simple Ways to Increase Cash Flow (chan 1625027)

Are you the type of person that has a tendency to procrastinate because you secretly love the thrill of getting things done on time? If so, you have probably experienced the stress and urgency of trying to establish some cash flow in your small business.



Cash flow


Cash flow is truly the lifeblood of your small business. Without it, your business will drown even if your income statements say you’re making a profit. Cash flow is defined as the relationship between revenue and expenses over a given period of time. Investorwords.com actually calls it “a measure of a company’s financial health.” Revenue is the money flowing into your business through sales of services or products, and expenses can be just about anything you spend money on to run your business.

Your primary objective as a small business owner is to make enough revenue (consistently) so that the revenue made is greater than expenses paid. This way, you begin to build up an overflow of money coming into your business. You need this overflow so you can have the ability to do anything from taking advantage of new opportunities to covering unexpected emergencies.

In order to avoid a cash flow crisis, use the tips below to build up your cash overflow and enjoy your growing business.



Cash overflow

1. Always receive payment upon delivery


Many small businesses allow customers to enjoy first and pay later. The fact is, if you want to see your cash flow remain consistent and steady, you can’t afford to do this. Credit is for banks and large corporations, not your small business. If it’s realistic, always ask for a one-time payment in advance of your services. If your product or service is delivered over a period of time, request payment in advance of each delivery. You should offer some sort of discount for paying more up front rather than over a period of time.



2. Pay every bill on time


Nothing but common sense here, you’ll save money by avoiding late payment charges and you can often take advantage of payment discounts for early payments.



3. Have a product that makes you money more than once


By creating something that you can sell multiple copies of (like an e-book) can be extremely beneficial and cost effective. Having a business website where you can sell your products is also extremely beneficial and can save you a lot of time, money, and effort by reducing many costs.

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03/18/11--06:56: How To Make Your Website More Social Media Friendly (chan 1625027)

Using social media is becoming one of the most popular strategies to retain customers that visit your business website. By directing your viewers to your Facebook page or Twitter account, you have opened the door of opportunity to continue communication with customers who have left your website without purchasing.

Your business website needs a way to direct people to your social media channels, to encourage communication between your customers and your brand. By including links to your social media pages on your website, you make it easier for you customer to learn everything they can about your product, and read why other customers are happy with what you have to offer.



Have social media buttons on your home page


In order to guide people to your Facebook page or Twitter account, have social media buttons on your homepage in plain view. Many online shoppers actually prefer spending time among Social Media Publishers  rather than business websites because social media is comfortable, familiar, and eliminates the customer’s wariness of salespeople.

Rich Brooks, of Social Media Examiner says;


“Many companies now see the long-term benefits of gaining a follower, fan or subscriber on a Social Media Publisher, even weighed against the short-term risk of sending them away from the website.”



The buttons should open up your social media sites in a new window. Because you’re sending your potential customers to a site other than your own website, having them open in a new window gives the customer easier access and incentive to return to your business website.



Why social media works


Having a social media presence so readily available to your consumers is a huge advantage because your consumer base is interested in what goes on behind the scenes in your company. By posting photos, videos, product tests, special offers, and anything else you can think of that’s fresh and new, you give your company a more personal touch.

Having a personal touch is the best way to have a leg up on your competitors. Your Social Media Publishers will really show the true personality behind your brand.

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03/21/11--09:18: Why You Need to Connect Your Blog and Your Website (chan 1625027)

One creative way to drive more traffic to your website and encourage interaction with your customers is by integrating your blog into your business website. Rather than solely using a blog or website respectively, using both together can improve the interactivity with your customers.

Interactivity is becoming increasingly important for consumers and their purchase decisions. A business website gives the consumer general information and a professional business presence. A blog allows consumers to see updated and fresh information, testimonials from recent purchasers, and even comments and conversations posted by existing customers.



Search Engine Optimization


Blogs are also great for increasing your search engine optimization, or your visibility online. By posting fresh content on a daily basis you increase your search engine ranking and the ability for people to see you online. Blogs can also drive traffic to your website by providing useful information while also using links and a call to action to direct your readers to your company site.



Personal Touch


Having a blog on a site like Wordpress or Blogger will give your company a personality that many other companies don’t have. Publishing more personal content rather than pushing sales pitches gives you an advantage over your competitors. Because consumers are seeking more intimate relationships with the online companies they purchase from, a blog can be a great way to establish communication, relationships, and credibility with your consumers.



How To Integrate Your Blog and Website


There are several ways you can integrate your blogging platform and your business website. If you choose to use an existing platform like Wordpress or Blogger, make sure to include links on every post you publish that directs your readers back to your website. Also, have links to your blog on the homepage of your business website. This encourages people to learn more about you, your company, your product, and your consumers.

If you wish to have a more seamless integration, consider investing in a content management system that includes a blogging platform. This means that your blog will be an actual page of your website and you wouldn’t need to send your customers away from your website in order to connect with them.

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03/23/11--08:21: Why You Need to Have Videos on Your Website (chan 1625027)

Adding videos to your blog and your business website can be a great way to share new information with your consumers. It’s a quick and easy way to make your business website more personal, valuable, and interesting to your consumers.

If you have a high-involvement product that requires educating your consumer, it can work against you to have a lot of copy in your website trying to explain it. Consumers don’t want to put forth a lot of effort once they reach your website. You have less than a few seconds to grab their attention, and an even shorter amount of time to convince them you have a solid product.



Use videos


Using videos is not only a fun, easy, and quick way to explain your product, but it is a great way to increase your social media marketing activity. The amount of users on video sharing sites like YouTube and Vimeo give you a great opportunity to reach broader audiences.

Once you post a video on your website, people have the ability to share it with others. Because videos by nature are just easier to understand than large blocks of copy, information is more likely to get passed on.



What kinds of videos you should post


There are so many things you can use a well-constructed video for. You can have a page on your website filled with videos like:


• How-To’s and tutorials
• Testimonials
• News and press
• Product information
  
• Product demonstrations
• Customer video responses
  

Using videos for this kind of information gives your customers a little more value. Watching someone in their own consumer market talk about your product will do a lot more for your credibility than just reading about it on your website and seeing a picture.



How it Helps Social Media Marketing


Once you post a few videos, you’ll start to see how much easier it is to share information verbally rather than through written words. Set up a YouTube channel and have people subscribe to it. By embracing the myriad of ways you can use social media, you will be able to build up a larger consumer base and your consumers will be more interested in interacting with your company.

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03/25/11--08:58: Does Social Bookmarking Really Work? (chan 1625027)

Social bookmarking is the process of storing, organizing, searching, and managing bookmarks of web pages that you want to remember or share with your social network. Effective social bookmarking sites include StumbleUpon, Reddit, and Delicious.



Why Social Bookmarking?

You absolutely need to use social bookmarking sites when you publish new content, whether that’s new web pages, blog posts, or news and press articles. Social bookmarking works because it will drive large amount of traffic to your website.

Social bookmarking communities view bookmarks either chronologically, by tags, or by search engines. When you bookmark a page on your website and share it with an online community, it classifies that page as useful within the particular category you specified. The bookmark is then disseminated and shared among a viral community.

Social bookmarking is the third most effective medium of searching and finding useful information, preceded only by Google searches and directly visiting websites. It is a powerful marketing tool you should use to promote the information on your website and drive an amount of traffic almost equitable to what you get from Google searches.



How to use social bookmarking effectively


Rich Brooks of Social Media Examiner wrote in a recent blog post:



“It’s always best when someone else bookmarks your content, so it might makes sense to have a small ‘bookmarking club’ with friends where you promote each other’s work. This ‘seeding’ will often encourage others to bookmark your content."



His advice is very useful in that bookmarking your own content will work in terms of search rankings, but it may end up looking like just promotional efforts in the eyes of your consumers.

When you publish new content (i.e. new web pages or blog posts), make sure you bold your keywords, add related links back to your website, and use tags to categorize your information to make searches more effective. Then, bookmark your site on a few different social bookmarking channels like StumbleUpon, Reddit, and Delicious.

In a day or two, review your web analytics and see exactly where your traffic came from. You’ll be surprised to see how quickly social bookmarking can work for you.

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03/28/11--07:11: Why You Need QR Codes for Your Business Website (chan 1625027)

As a small business owner, you need to be able to adjust as rapidly as the changing market. More and more people are becoming absorbed in their smartphones, so much so that an entire segment of marketing and advertising has developed to specifically target this audience.



What are QR Codes?

A great way to tap in to that huge market is to use QR codes (or quick response codes). QR codes are fuzzy little black and white blocks that contain a bar code. The code can be scanned by smartphones with cameras. The codes then redirect people to a website, play some sort of animation, or do all sorts of neat tricks.



How can I use a QR Code?

There are several places you can put a QR code to drive traffic to your website. First however, you need to figure out what you want out of your QR code. Do you want more traffic on your website? Do you want people to visit your store? Do you want people to call in? These questions need to be answered before developing a QR code.

Once you’ve formulated the idea for your QR code, it’s time for execution. It’s extremely important to remember that QR codes are new, exciting, and fun. If you send people just to your homepage with a QR code, they’re likely to lose interest right away. Consider sending them to a special landing page or a mobile version of your website. It’s just more interesting for first time customers that have already shown interest by scanning your QR code.

Once you’ve decided what you’re going to do with a QR code, you need to choose the medium in which your codes will be distributed. You can choose to stick them on your packaging, direct mail, business cards, print ads, but one of the most interesting ways to drive traffic to your business website is to add QR codes to your social media pages. Using QR codes can really help with your social media marketing because many people just can’t resist scanning the barcodes with their phones to see what’s in store.

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04/20/11--11:36: The True Impact of Social Media (chan 1625027)

Are your social media efforts paying off? Only if you know what to measure.

The proof that social media marketing works is not measured in ROI or sales but rather in retention and what happens as a result of your social media marketing efforts. The frequent questions executives and business owners ask are: “How much money will I make?” and “How many new sales will I have? While logical, these questions are not necessarily the right questions. With social media, it is not how much you make but how much of a difference your social media efforts make to attract new customers.

Even though social media has great potential, many organizations do not properly integrate social media in their marketing and communication efforts. The underlining point is that social media is not a one-way communication channel, but instead a medium for listening, analyzing, and driving those conversations. The companies that realize the full potential of social media are not only experimenting with multiple channels, but also creating metrics to measure impact and using new tools to understand how to enter into a new conversation with their customers.

How does an organization gain not only an understanding of their audience’s social network but know when and how to reach out to a customer or prospect?


• Listen
• Segment
• Engage
• Gain Expertise and Validation

Range of Social Relationships

Jen Roberts offers her scientific break-down from a customer perspective of their interest in being ‘friends’ with your organization as follows:


• Don’t talk to me. Ever. I’m still recovering from our last encounter.
• I don’t want to be your friend but I do need answers. Where can I find them?
• I like you and I’ve clicked a button.
• I like you and love discounts. Let’s talk.
• I love you and I want to co-create.

Benefits of Social Media

One of the benefits of social media is that it can help reinforce existing ties and that is one way of looking at consumer relationship; the strength of that tie between the consumer and your brand. Analyzing and filtering for consumer insights or preferences is a critical piece for surfacing consumer intentions that can provide a unique perspective on the degree to which a consumer wants to be engaged.


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04/22/11--15:23: 1970- 2011: Keypunch Cards to Zero Latency (chan 1625027)

Northern WI  4/22/2011  (VestaDigital)  --  When I started trading commodities in 1979 from the Chicago trading floors we had data key punch girls who would walk around the different hexagon pits and collect 4 x 6 inch cards. They would then run upstairs to the data entry office and spend hours deciphering the traders scribbling on the cards. In the morning there would be a pre-opening session called 'out-trades" where clerks would attempt to settle trades which did not match because of key punch errors or the inability to read the chicken scratch writing.

Flash forward to 2011 and you have zero latency Profit and Loss to your smart phone immediately upon making your trade deducting or adding money to your account and calculating the margin. The progress has been rapid, but most of the large steps have been taken in the last 5 years as internet speeds have solved the last mile and costs have dropped. There have also been many software developments to achieve zero latency and useful tools to track trading positions and move money around. The input errors we saw from the 70's are virtually eliminated at entry and the "out-trade" errors are a thing of the past making execution seamless.

The next steps for Financial Services will revolve around Social Media and its effect on investors, traders and CEO's and how they communicate. This is already taking place as platforms develop and dominating networks like Twitter introduce $Dollar signs and #Hash keys which become universal symbols across the networks. 

Nearly every company will have a FaceBook page or a Twitter account before long. I will monitor the useful software as I write for Vesta Digital and hope you will follow along as we watch the way we invest and communicate over the next few years...the days of  and key punch cards are gone!!!!

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04/28/11--01:57: Social Media Marketing: How Many CEOs Will Miss The Boat? (chan 1625027)

SmallCap stocks have yet to utilize Social Media Tools; it may be too early in the cycle for a distracted CEO to understand how these platforms work, and many view growing Social Media sites like FaceBook and Twitter as a trend. LargeCap Companies are hiring full departments to man these platforms; in fact, it has been one of the few bright spots in a weak employment cycle. I guess the logical question is why? Why would a CEO pass on an inexpensive new marketing tool?

Clearly someone is wrong here and I believe the LargeCap CEO, in most cases, has better resources and will make better decisions identifying tools that help his/her company sell products or services. Throughout history other important marketing tools were bypassed by smaller companies, and once a few “old line” CEO's get fired because they refuse to adapt and viewed as - missing the Social Media boat - you will see this New Media Marketing tool part of everyday operations. Managers in general pay attention to the reasons their predecessors were fired.

Most don’t realize the vast difference between a Fortune 500 company and how they operate versus a SmallCap company.  SmallCap Stocks are classified by their market capitalization of 1 Billion or less and most market watchers categorize stocks in 5 categories 1) MegaCap, 2) LargeCap, 3) MidCap, 4) SmallCap and 5) MicroCap. There are roughly 15,000 publicly traded companies in the US Markets and 70% of these are in category 4 or 5. This means that only 30% of companies have Market Caps above 1 Billion dollars.

If I were to advise an investor about what to look for in a smaller stock investment, it would be to examine the companies Social Media strategy in 2011 and how it's working ......this will tell you much more about the management of the company than you know.

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05/01/11--22:08: Bin Laden Dead: 3 Things to Know as Social Media Swings into Gear (chan 1625027)



Northern WI  5/2/2011  (VestaDigital.com)  --  As soon as New Media got hold of Osama Bin Ladens death (about 30 seconds after President Obama speech) the Social Media wires go into full speed mode.  The backstory revolded around 1.) The Operation itself and the details 2.) The cheering crowds outside the White House and Ground Zero  3.) White House security and how they kept details quiet for 6 weeks.  Below is a 60 Minutes Video on Delta Force.

.


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05/03/11--03:20: New Media Valuations: TweetDeck Price Tag $50 Million (chan 1625027)

Tomahawk, WI  5/3/2011 (Vesta Digital) -- Twitter has made an offer to acquire TweetDeck, a popular third-party software application for using Internet social networking services, for up to $50 million, according to a person with knowledge of the matter. The cash and stock deal could close in less than ten days, the source said, and would represent one of five-year-old Twitter's largest acquisitions to date.

The deal would give Twitter an application that has won praise among sophisticated users for its slick interface and enhanced capabilities, while closing out a potential threat to Twitter's fast-growing service. TweetDeck had been in acquisition discussions with UberMedia, a Pasadena Web company founded by entrepreneur Bill Gross, in a deal that was valued at less than what Twitter offered. UberMedia has been amassing a collection of Twitter applications which some commentators have speculated could ultimately be used to create a rival social network to Twitter.

The exclusivity terms of UberMedia's offer for TweetDeck expired in mid-April, allowing TweetDeck to respond to the Twitter offer, according to the source. A Twitter spokesman said the company does not comment on rumors. TweetDeck and UberMedia did not immediately reply to requests for comment. The deal comes a little over a month after Twitter co-founder Jack Dorsey returned to the company as executive chairman to oversee product development.

Twitter, which allows people to send 140-character text messages, or Tweets, to groups of so-called followers, is one of the Web's most popular social networking services, along with Facebook and Zynga. The service has become a popular communications tool for celebrities, politicians and businesses, and has played a role in several geopolitical events, such as recent uprisings in the Middle East.

In December Twitter was valued at $3.7 billion in a $200 million funding round led by venture capital firm Kleiner Perkins Caufield & Byers. Subsequent auctions of Twitter shares on the secondary markets have suggested investors were valuing the shares at more than $7 billion. Twitter's offer for TweetDeck is between $40 million and $50 million, according to the source, depending on how Twitter's shares are valued.

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