Loading

Grow Smart Business


teaserInfographic
Close
For more information and charts about Small Business Mobile:
Powerpoint Download the PowerPoint
and See Key Highlights from the Web.com Small Business Mobile Survey
homepreneur

Search Articles

Most liked posts



Recent Articles

Popular Tags

accounting and taxes blogging blogs Branding Business Development business travel Capital Access Compliance Customer Service ecommerce Email marketing entrepreneur entrepreneurship Facebook Generational Marketing GrowSmartBiz Conference Grow Smart Business lead generation LinkedIn Marketing michael dougherty mobile marketing networking online marketing Raising Capital Resources retail sales sales process SBSI Search Marketing seo small business small business accounting small business hiring small business loans small business marketing small business resources small business technology Small Business Trends social media Technology Twitter Web Design Workforce

Categories

Business Development Articles

« Older Entries

Your 3-Step Plan for a Business Website That Drives Sales

January 29th, 2013 ::

By Maria Valdez Haubrich

Is your small business website driving the leads, customer engagement and sales you want? If it’s falling short of your goals, how can you help your business website perform better? Here are three steps to take.

  1. Focus on your target customers. If your website isn’t attracting enough customers, maybe it’s too vague and general. No business, or website, can succeed by trying to be all things to all people. Instead of casting a wide net, narrow your focus. Try developing a couple of “personas” that represent your target customer. Be as specific as you can. If your target customer is a busy mom, is she a working mom or a stay-at-home mom? How old are her children? What products is she looking for? Get as specific as you can; this will help you focus on the keywords that will drive that exact customer to your site. By pinpointing the specific groups you’re hoping to reach, you can develop a website that reaches out to those people.
  2. Focus on your customers’ pain points. A website is first and foremost a marketing tool, but sometimes small business owners forget this. Just like your other marketing materials, your small business website should show prospects that your business understands their pain points and is trying to solve them. Going back to the busy mom customer we mentioned above, if she is a working mom with an infant at home, one pain point might be the need to keep stocked up on diapers in order to avoid midnight runs to the convenience store. Your website and keywords should focus on solutions such as diaper delivery, diapers shipped to your home, auto-reorder of diapers and similar options.
  3. Focus on a call to action. Sometimes your business website is working well at attracting customers, but when they’re on your site, they just click around for a bit and leave. If customers aren’t taking action on your site, it’s probably because you’re not showing them a clear call to action. Every page on your site should drive customers to take a specific step, whether that’s “Buy now,” “Shop,” “Call us,” “Click to get a quote,” or “Chat with our operators.” If your product or service is one that doesn’t require a lot of thought, your call to action could be simple, such as “Buy now.” If it’s a product such as business equipment that requires a lot of hand-holding before a decision is made, there will be more steps involved, but you still need a call to action for each of those steps: “Click for more information,” “Request a quote,” etc. This is not the time to be subtle. Use action-oriented words that are very specific as to what you want customers to do. Emphasize them with color, hyperlinks and graphics.

Last, but not least, be sure that you test all the changes you make to your site by monitoring your analytics to see what users are doing. By making these changes, you’ll find your small business website driving a lot more business.

Image by Flickr user FutUndBeidl (Creative Commons)

 

 

 

Tags: , , , ,
Posted in Business Development, Marketing, Sales Process, sales process, Small Business, small business, Technology, Web Design | No Comments »

Affluent Men Are From Mars, Affluent Women Are From Venus

January 23rd, 2013 ::

By Rieva Lesonsky

Both affluent men and affluent women have optimistic outlooks about their personal financial situations in 2013, a new report from Shullman Research found. However, there are significant differences in the optimism levels of men and women that could affect how you market to these wealthy consumers.

The Shullman Luxury and Affluence Monthly Pulse conducted in December found that 48 percent of U.S. adults with a household income of over $250,000 believe the U.S. economy is doing better today than it was a year ago. About one-third (34 percent) thought the economy was doing the same as 12 months ago.

However, when you dig down into the men’s vs. the women’s responses, some key differences emerge:

  • Some 45 percent of men are very optimistic or optimistic about the economy, compared to just 35 percent of women.
  • About 42 percent of female respondents say that the economy is essentially the same today as it was 12 months ago, compared to just 26 percent of male respondents.
  • While men and women generally felt positive about their current financial situations, with 78 percent of men and 73 percent of women describing themselves as financially stable, men were more positive about the future. Nearly three-fourths (74 percent) of men believe they will definitely or most likely be better off financially one year from now than they are today, compared to 64 percent of women.
  • Overall, 90 percent of those surveyed reporting that as long as the economy keeps improving, they will spend either more than they did in 2012, or the same amount. However, men were more likely to spend more; 43 percent of men said they will spend a lot more or slightly more than they did last year. Just 36 percent of women said the same.

Shullman Research Center founder Bob Shullman says women tend to take a more cautious approach to their finances than do men. What do these numbers mean to your business?

If you’re targeting upscale women, your marketing message will need to work harder to reach them and overcome that inclination to be conservative in their spending. Use marketing messaging that will calm their financial concerns, such as emphasizing the value of your product or service, how it will benefit them or their families, and how it’s a smart investment.

If you’re targeting upscale men, marketing messages that focus more on “fun” and rewarding oneself may be more effective. Affluent men are more willing to boost their spending and feeling more confident, so tap into their pent-up desires to spend a little more by playing up the desirable features of your product or service.

Image by Flickr user ToGa Wanderings (Creative Commons)

Tags: , ,
Posted in Business Development, Marketing, Sales Process, sales process, Small Business, small business | No Comments »

What Marketing Strategies Are You Spending on in 2013?

January 22nd, 2013 ::

By Maria Valdez Haubrich

How does your small business’s marketing budget for 2013 compare to that of your competitors? A new survey by StrongMail has some insights. Overall, businesses are bullish on marketing for 2013, with a total of 89 percent saying they will either increase or maintain their level of marketing spending in the coming year. (Some 45 percent will increase their marketing budgets and 44 percent will keep them the same.)

Email marketing, social media and mobile marketing will be the main focus of investment this year. More than half (55.5 percent) of marketing executives report plans to spend more on email marketing campaigns in 2013; 51.8 percent say they will spend more on social media; 42.8 percent say they will increase spending on mobile marketing; and 39.8 percent will boost spending on search marketing.

Two-thirds of the companies in the survey report they will spend more on mobile marketing programs such as mobile apps (39 percent) and SMS alerts (21 percent). Overall, mobile marketing spending will increase by 11 percent compared to 2012.

When it comes to social media, where are marketers putting most of their efforts? Facebook dominates, with 60 percent of businesses saying Facebook is the most valuable social media channel for them. Twitter and YouTube ranked second and third, respectively. Google and Pinterest were somewhere in the middle, cited by 31 percent of marketers, while Yelp, Instagram and LinkedIn brought up the rear.

Email is a strong area of growth for marketers, who plan to use it for a variety of purposes this year. While at one point some experts were predicting that social media would make email obsolete, marketers are figuring out email’s value in growing their social media presence and customer engagement. That’s reflected in the 46 percent who say they will spend more on emails to drive growth to their social media channels, such as Facebook or Twitter. In addition, 38.8 percent will spend more on promotional emails, and 34.7 percent will spend more on email newsletters.

Where aren’t marketers spending? Direct mail, trade show participation and traditional advertising will take the biggest hits. Some 37.4 percent report they plan to cut spending on direct mail, 33.6 percent will cut back on trade show spending and 23 percent will decrease spending on advertising in 2013.

You can view a PDF of the full survey results here.

Image by Flickr user Jay Freshuk (Creative Commons)

Tags: , , , , , ,
Posted in Business Development, Email Marketing, Marketing, Sales Process, sales process, Search Marketing, Small Business, small business, Social Media, social media, Web Design | No Comments »

100 Trends to Watch for 2013

January 17th, 2013 ::

By Karen Axelton

As you prepare your small business for greater success in the coming year, be sure to take a look through trendspotting company JWT’s list of 100 Things to Watch for 2013. While you’ll want to peruse the whole list at leisure, here are a few that stood out to us as of interest to business owners:

  1. Allergen-free foods: JWT cites a 2011 study showing that as many as 1 in 12 American children may have a food allergy. That’s twice as high as previously believed. In 2013, JWT predicts that “allergen-free” will become as ubiquitous as gluten-free, with more food manufacturers, restaurants and retailers devoting themselves to allergy-free meals and snacks.
  2. Ambushed by Amazon: Is Amazon today’s Wal-Mart or Barnes & Noble? Like those mass merchants before it, the ecommerce giant is threatening to run all types of independent retailers out of town. With same-day delivery currently being tested in some cities, its Amazon Flow app that shows shoppers in your store how much the same product costs on Amazon, and everything from luxury jewelry to food for sale, Amazon is a major “disruptor” that retailers and etailers will have to take into account. Latest news? It’s reportedly considering opening brick-and-mortar stores
  3. Appcessories: Accessories are taking on high-tech functionality, turning into “appcessories.” Whether it’s smart eyeglasses, wristwatches or wristbands that integrate with tech toys, or even gloves and socks with RFID tags or embedded microphones, companies are creating dozens of ways for consumers to integrate technology into their clothing and accessories.
  4. Coaching brands: Companies now have the ability to gather unheard-of reams of data about their customers. In 2013, they’ll increasingly use that data to “coach” their customers on how to do things better, provide personalized recommendations for products and services, and otherwise provide customized assistance to help clients improve their lives.
  5. Hyper-personalized customer service: In a closely related trend, businesses in some industries are using information about customers to provide extremely personalized service. For example, restaurants can log details about customer preferences and then provide “the usual” cocktail or a gluten-free menu without the person even having to ask. As technology enables bigger companies to provide the kind of personal touch that used to belong to small companies, your firm will have to find new ways to keep pace.
  6. Dads in the aisles: With women working outside the home and the number of stay-at-home dads multiplying, more marketers that used to focus
on moms will need to include dad as well. Whether you sell cleaning supplies, household products and décor, children’s clothing or food, you will need to market to men and take into account how they like to shop, buy and spend.

Read the full report for 94 more thought-provoking trends.

Image by Flickr user Steve Bowbrick (Creative Commons)

 

 

 

 

Tags: , , , , ,
Posted in Business Development, Customer Service, Innovation, Small Business, small business, Technology | No Comments »

Are You Leaving Money in Customers’ Online Shopping Carts?

January 16th, 2013 ::

By Rieva Lesonsky

The holiday shopping season resulted in as much as $43.4 billion in sales for online retailers. But a study performed by The Adcom Group for Virtual Hold Technology (VHT) suggests that number could have been much higher if consumers hadn’t struggled with a variety of obstacles to completing the online sale.

The study found that more than three-fourths of online shoppers ran into shopping roadblocks when they had a problem completing the purchase, but couldn’t find help online. A similar number reported that this frustration led them to give up entirely and abandon their online shopping cart.

What specific issues were causing problems?

  • Problems correctly reading and using the captcha – 80.3 percent
  • Trouble using promo codes, gift card redemption, or with other discount – 46 percent
  • Product was back-ordered – 32.5 percent
  • Had questions about product features and had difficulty finding answers  - 31 percent
  • The site timed out (or appeared to) – 30.5 percent
  • Had problems logging onto the site, setting up your account or remembering your password – 29.3 percent
  • Had questions about shipping and had difficulty finding answers – 24.7 percent
  • Had problems entering  credit card data or with credit card acceptance -22.6 percent
  • Had questions about product availability and had difficulty finding answers – 20.1 percent
  • Had problems re-setting your password – 18.9 percent
  • Had questions about the return policy and had difficulty finding answers – 15.9 percent

Here’s the really scary part: When faced with these problems, more than 37 percent of customers just give up, and 25.5 percent head to a competitor.

How could online retailers help combat the problem of abandoned shopping carts? Rapidly resolving the problems that get in the way of buying was the number-one answer. Customers overwhelmingly said they would buy more from a site that offered the ability to click or tap to get immediate customer service assistance. In fact, more than three-fourths said they would prefer a site that offered this convenience to a competing site that didn’t.

Providing better customer service would not only drive customers to complete purchases, but also inspire new business. Over half of survey respondents said they would become promoters of brands that offered the ability to click or tap for customer service, and that they would refer others to the brand, website or mobile app.

Of course, many of the issues mentioned above could be solved with a robust set of FAQs that’s easy to find on your site. Make sure FAQs about issues such as shipping, return policies and more are clearly visible on every page of your site navigation.

You can download the full results of the study at www.virtualhold.com/onlineshopping.

Image by Flickr user zion fiction (Creative Commons)

 

 

Tags: , , , ,
Posted in Business Development, Customer Service, Marketing, Sales Process, sales process, Small Business, small business, Technology, Web Design | No Comments »

Web.com Small Business Toolkit: Lettuce (Order Management Tool)

January 10th, 2013 ::

Lettuce

Keeping track of orders is a necessary evil of small business management that becomes even harder if you don’t have a good system in place. Finding a good order management system for a small business, however, can also prove to be a challenge. The creators of Lettuce also had that issue, so they developed an app to track your order and automate the entire process. Since the app is mobile you can capture orders anywhere and focus less on paperwork and more on the sale. Then use the analytics tools Lettuce provides to gain valuable insight into your business’s bestselling (and worst-selling) products.

Tags: , , , ,
Posted in Accounting and Taxes, Business Development, Compliance, Resources, Sales Process, sales process, Small Business, small business, Technology | No Comments »

10 Ways to Stay Competitive in 2013

January 9th, 2013 ::

By Rieva Lesonsky

Is your small business doing all it can be to stay competitive in 2013 and beyond? The latest Citibank Small Business Pulse survey spotlighted 10 actions the most successful small business owners take to keep their companies competitive. Are you doing them?

1: Do your research and get educated. Some 88 percent of small businesses surveyed say they regularly work to stay up to date and knowledgeable about their industry and changes in the market.

2: Work hard and do what needs to get done. Successful small business owners are dedicated—so much so that more than half (53 percent) say they didn’t take a vacation last summer.

3: Update or upgrade technology. Nearly 70 percent of respondents say they recently updated or upgraded their computer systems, and 51 percent have made a major change to their business technology.

4: Know your clients. More than two-thirds (67 percent) say they are spending more “face time” with customers to keep their businesses ahead of the pack. Such client relationships also help entrepreneurs stay on top of industry and market trends.

5: Keep a close eye on cash and budgets. Many small businesses say they are keeping cash in reserves and spending cautiously. No wonder: Some 58 percent admit that cash flow issues have been a major challenge in the past few years. However, 73 percent feel they are doing a good job of managing their cash effectively.

6: Be involved. Small business owners are taking part in their business and local communities: 51 percent have built a network of suppliers and partner companies, and 47 percent say they have become more active in the community and local organizations.

7. Be prepared. If another economic downturn occurred, 80 percent of survey respondents say they could handle it. They’ve learned from the recent recession, in which many of them took steps such as running leaner, cutting operating costs and renegotiating contracts.

8: Plan ahead. Some 27 percent of small business owners say they can predict their cash situation four to six months ahead, which enables them to plan for the future.

9: Stick with your aspirations. Despite the challenges of entrepreneurship, nearly two-thirds (63 percent) of business owners polled say they are living their dream; three-fourths say they would do it all over again.

10: Market, market, market. More than half (53 percent) of small business owners say they’ve upped social media and online advertising in the last year, while 54 percent improved their websites and search engine presence.

Image by Flickr user Generationbass (Creative Commons)

Tags: , , , , ,
Posted in Accounting and Taxes, Business Development, Compliance, Entrepreneurs, Marketing, Networking, sales process, Search Marketing, Small Business, small business, Social Media, social media, Technology, Web Design | No Comments »

Should Ecommerce Retailers Open Brick-and-Mortar Stores?

January 7th, 2013 ::

By Rieva Lesonsky

It used to be that if you had a brick-and-mortar retail store, you eventually added ecommerce capabilities. But now that so many retail businesses are starting out as online-only, a new trend is taking place. The New York Times recently reported that a growing number of online-only retailers are opening brick-and-mortar stores to capture more business and enhance their brands. Should you consider this move?

Obviously, this approach isn’t right for every company. Here are some questions to ask if you’re considering whether a brick-and-mortar store is right for you:

  • Is your product tactile or unique? Clothing and apparel stores are naturals for this type of brand extension, as shoppers want to touch, feel and try on the merchandise.
  • Can you find a small space? Most ecommerce sites that open brick-and-mortar stores aren’t going big, but are considering the retail space as a brand extension or showroom. Others are creating pop-up stores that open temporarily for special occasions such as the holiday shopping season.
  • Can you make it special? A real-world store needs to offer an “experience” to resonate with shoppers, so think about what you can offer in your physical store that you can’t do online.
  • Do you have an avid customer base? If most of your shoppers come from one part of the country, such as New York City, it might make sense to open a shop there.
  • Are my sales strong enough to support a retail store? A track record of online sales success will give you an edge in getting a lease and financing for opening a store.

While most of the companies mentioned in the Times article are big chains with deep pockets (such as Gap’s Piperlime division and eBay), there are others that started with entrepreneurial roots, such as eyeglasses retailer Warby Parker and apparel company Bonobos. The Times notes that companies that starting out as an online-only retailer gives you a different perspective on brick-and-mortar sales. For instance, at the Bonobos stores, customers make appointments to come in so the shop can operate with very limited staff. Stores operate as “showrooms” with clothes in all styles, but limited sizes and colors. Customers try items on for size, then clerks order the product online for them and have it delivered the next day.

Increasingly, consumers are expecting online and offline retail to blend together in a seamless experience, and that’s what this new breed of brick-and-mortar stores is doing.

Image by Flickr user jheffreyswidTM Design (Creative Commons)

 

 

 

Tags: , , ,
Posted in Business Development, Customer Service, Marketing, Sales Process, sales process, Small Business, small business | No Comments »

How to Spot Trends in Your Business and Turn Them Into Profits

January 4th, 2013 ::

By Rieva Lesonsky

The New Year is here–the time of year when “best of” and “hot trend” lists proliferate. As you look back over all those lists of what was hot in 2012, take a moment to think about what was hot in your own business last year—and what it might mean for next year.

Here are four key questions to ask yourself:

  1. What did your customers buy more of and less of in 2012? Use your sales records and other data to see what products and services were hot sellers last year and which ones were less so. See what trends you can spot. Are customers buying more do-it-yourself items, or are they upscaling to costlier ones? Try to project into the future and how these changes might affect your business going forward.
  2. Who were your best customers in 2012? Was that a change from prior years? Maybe most of your customers used to be college students and now your customer base is skewing younger. Or your customers used to be midsized businesses and now you’ve got a few Fortune 500 clients. What do these trends mean for the future? How can you better serve the new market? What new products, services or sales channels would appeal to them?
  3. How were most of your sales made in 2012? If you typically sell most of your products in-store, did that hold true in 2012 or did you find more customers buying online? Did wholesale accounts grow while retail sales declined? Did customers who previously bought your service on a month-to-month basis sign up for annual subscriptions? Again, consider what this trend might mean in the coming year. How can you sell more through the sales channels that are growing? Should you pull back on the less profitable channels or eliminate them altogether?
  4. Who were your best salespeople in 2012? What did they do that your other salespeople didn’t? Assess your star performers’ actions and habits, and develop best practices you can use to train the rest of your sales team. Consider whether sales quotas need to be reset or whether some poor performers need to be let go (there are plenty of hungry salespeople out there right now). Finally, reassess how you distribute client and customer lists. Can you set your top salespeople loose on the prospects, sales channels and products you’ve identified as growth areas?

Image by Flickr user Images_of_Money (Creative Commons)

 

Tags: , , , ,
Posted in Business Development, Customer Service, Marketing, Sales Process, Sales Teams, Small Business, small business | 1 Comment »

The 7 Deadly Sins of Social Media Marketing

January 3rd, 2013 ::

The inspiration for this post came from a blog post on Social Media Today that categorized 3 social media sins companies routinely make that waste time and money. The more I thought about it, the more I realized there are many more ways that companies waste money.

Here are 7 sins that are deadly, if only to your business’s bank account:

Sin #1: Not measuring results

Unless you take the time to look at the results of your social media marketing efforts, you won’t know what’s working and what’s not. If you continue to do something that is not engaging people and attracting new customers, well, you’re just throwing money right out the window.

Sin #2: Measuring the wrong metrics

Know what to measure. Likes and retweets are meaningless unless you are pulling people onto your website, capturing their contact information and converting them into customers.

Sin #3: Diving in blind

Not having a plan in place is bad enough, but not doing any research before starting is worse. You need to understand all of your target markets, where they are online, what their needs are, and how to properly use social media to reach them before you do anything on social media.

Sin #4: Zero integration

Cross-promoting content and messaging between online and offline is not hard to do, but a lot of companies don’t bother. Put that Yelp sticker to work by offering a discount on each reviewer’s next purchase. Got a PowerPoint presentation that has received great in-person feedback? Share it online.

Sin #5: No calls-to-action

If you want people to do something, just tell them, whether it’s downloading a free ebook, getting a sneak peek of an upcoming product or receiving a complimentary consultation.

Sin #6: Ignoring community management

The person who oversees your online community – your blog and social media networks – should be one person who is organized and social, not whoever has time at any given moment.

Sin #7: Focusing on one social media network

Don’t put all of your eggs in one basket, especially when it comes to marketing. If you focus solely on one social network, like Facebook, over others that are open networks and make it easier to reach your audience, you’ll be missing out on valuable opportunities to expand your reach.

Image by Flickr user shawncampbell (Creative Commons)

Tags: , , ,
Posted in Business Development, Marketing, Sales Process, Small Business, small business, Social Media, social media | 4 Comments »

« Older Entries