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The Online Marketing Habits of Highly Successful Small Businesses

December 10th, 2012 ::

By Rieva Lesonsky

How can your small business reach the elite group of high-achieving small companies? Online marketing is the key, suggests a new Forrester research study commissioned by Act-On Software. In the face of continuing economic uncertainty, the study, “Driving Revenue in a Volatile Economy, found that the top-performing small businesses are those that truly embrace online marketing.

The study identified these lessons small businesses can take  from top performers and large companies:

  1. Don’t automatically cut your marketing budget in a down economy. Top performers were less likely than bottom performers to cut their marketing budgets (33 percent vs. 56 percent). On the contrary, top performers prove that maintaining or increasing marketing spending does pay off in terms of revenues.
  2. Take lead generation seriously. The top-performing small businesses carefully manage sales leads, vetting, qualifying and nurturing them before handing them off to sales to close. They were also willing to spend more to get new leads, while bottom performers spent their time and money trying to squeeze new sales from existing customers.
  3. Adopt digital marketing techniques. All small businesses in the study focused primarily on traditional marketing techniques, such as print advertising, tradeshows, events and seminars. However, top performing businesses were more likely to have adopted digital marketing tactics and technology tools to help scale their marketing efforts.
  4. Get serious about social marketing. While larger businesses are realizing that “social media” is not just an abstract tool for generating buzz, small businesses are lagging behind in developing a social media strategy and making social media part of the sales pipeline.
  5. Increase collaboration between sales and marketing. By working together, these teams can drive leads more effectively and close more sales.
  6. Invest in marketing automation. Companies that automated marketing functions had better results. For example, 61 percent of top performers used CRM vs. just 46 percent of bottom performers. And only 5 percent of bottom performers used marketing automation, compared to 28 percent of top performers.
  7. Measure results. Nearly half of the bottom performing businesses did not measure any aspect of their marketing. In contrast, top performers measured everything.

Visit Act-On’s website for a free ebook, 7 Marketing Habits of Today’s Highly Successful SMBs.

Image by Flickr user ganesha.isis (Creative Commons)

Web.com Small Business Toolkit: FOHBuzz SnapShot (Reputation Management)

December 5th, 2012 ::

FOHBuzz SnapShot

Finding it hard to keep up with what’s being said about your business on social media? FOHBuzz Snapshot is a crowdsourced social media shopping report for restaurants of any size that can give owners a real-time snapshot report and social score of patrons’ satisfaction. FOHBuzz scours the social Web for the latest mentions about your restaurant brand and then emails you a detailed report within hours that you can then share with others. If you have more than one location, FOHBuzz makes it easy to compare what is being said about each location, too. Benchmarking reports are also available so you can compare your buzz against that of your competitors.

What Influences Customers to Click, Read and Buy? The Answers Might Surprise You

December 5th, 2012 ::

By Rieva Lesonsky

Do you use content marketing for your small business? Do you rely on the content on your business website to promote your expertise, attract customers who are searching for your type of product or service, or inform your audience? If so, you’ll be interested in Behavior Shift: Getting Content in Front of Consumers, a new nRelate study by Harris Interactive that explores how consumers find and use content online. The results might surprise you—and change how you design your website.

First, consumers are actively engaged in a search for content, spending an average of seven-plus hours per week looking for content. (Younger consumers spent more time.) A whopping 92 percent of adults read online content.

As you might expect, search is the number-one way consumers look for content—but what you might not expect is that “related links” at the bottom of articles were the second-most popular way consumers find content. Used by three-fourths (76 percent) of online content consumers, these related links were more important than social media or recommendations from friends in finding content.

While we’re hearing a lot about the importance of images in online content and social media today, some 62 percent of respondents say they’re more likely to click on a related link to a traditional article, as opposed to images or videos. However, 39 percent say they’re more likely to click on an article if it has an associated image.

The biggest determinant in what consumers click on after reading one article is quality. How do users define quality content?

  • 60 percent say it’s from a source already known in the offline world
  • 24 percent say it includes images
  • 23 percent say it Includes author image and byline
  • 11 percent say it includes embedded video

Purchasing decisions are most influenced by trust, and despite the prevalence of social media, nearly half (44 percent) of consumers say the information they trust most is content from a brand or company’s website. Content found via search engine was trusted by 31 percent, expert content by 28 percent, mainstream news sites by 20 percent and social media content from friends by just 10 percent.

While these results shouldn’t cause you to abandon or decrease your social media efforts, they do show that consumers are still influenced by traditional sources of expertise—articles, experts, and brands—far more than by social media.

Image by Flickr user Iwan Gabovitch (Creative Commons)

Web.com Small Business Toolkit: WorkSimple (Employee Management)

November 22nd, 2012 ::

WorkSimple

Are your employees hooked on social media? Do you catch them constantly updating their Facebook or Twitter status? Here’s a way to keep them engaged in their jobs and turn their love of social media to your advantage. WorkSimple is a social performance platform based on actual work and social goals throughout the work day. With WorkSimple employees can see what others are working on and how their role in the company affects the greater good and their fellow staff members. The platform encourages more feedback on work goals and an opportunity for support and coaching from other members of the team—and makes everyone accountable.

Message to Marketers: Don’t Ignore Gen X

November 21st, 2012 ::

By Rieva Lesonsky

There’s a lot of hullabaloo about marketing to Millennials these days, but in all the frenzy, you might be forgetting about a very important demographic: Generation X. Aged 35 to 44, this often-ignored generation is important for marketers to target—but it’s important to target them correctly.

New research from SymphonyIRI’s Q3 2012 MarketPulse study found that while Gen Xers might at first glance seem similar to Baby Boomers, they actually have a lot in common with Millennials. Dubbed “cheap but cheerful” in the study, Generation X generally has a positive outlook on the economy, but are still more frugal than either Baby Boomers or seniors. They’re more likely than either group to buy products on sale, seek out the lowest price, buy products based on loyalty rewards, and avoid making unplanned impulse buys.

One reason for this frugality is that Gen-Xers had already gone through their own version of the recession pre-2008. Many of them first entered the job market after the 1987 stock market crash. Just like today’s Millennials, many of them struggled to find jobs out of college and had to move back with their parents. They also lived through the dotcom bust of the early 2000s. This “bleak” heritage has shaped their outlook on spending, just as the Great Depression left its mark on seniors and the Great Recession is shaping today’s Millennials.

Despite their past, Gen-Xers are more financially optimistic than the average shopper, SymphonyIRI found. Nearly one-quarter (24 percent) say their financial situation has improved in the last 12 months, and more than one-third (37 percent) believe their finances will improve during the next 12 months.

That doesn’t mean they’re free spenders; on the contrary, Gen X is cost-conscious. Before going shopping, 69 percent of Gen X consumers make a shopping list, 49 percent look at sales circulars and 48 percent use coupons.

One important difference between Gen X and the Boomers is that Gen X is much more tech-savvy. In fact, this generation is pretty much on par with Millennials in their use of technology for shopping. More than half of them download coupons from manufacturer, retailer or couponing websites; 35 percent go to daily deal sites; and 31 percent look for coupons on social media.

No matter what demographic you’re targeting, SymphonyIRI’s study found some good news: in general, U.S. consumers in all demographic groups have shown an increasingly positive financial outlook during the third quarter of the year.

Image by Flickr user takomabibelot (Creative Commons)

Web.com Small Business Toolkit: MarketMeSuite (Social Media Management Tool)

November 20th, 2012 ::

MarketMeSuite

If you don’t have the resources (like a huge staff) to keep a close eye on your social media activity and you aren’t sure whether or not your posts, pins and tweets are getting noticed, it’s time to invest in a social media management tool like MarketMeSuite. This Web-based platform can help you monitor your social media presence, find targeted leads and build engagement just like the big guys do. MarketMeSuite lets you see all your engagements from one dashboard, so you know what’s working and what isn’t. The software is scalable so it can grow with your business.

 

Web.com Partners With American Express to Support Small Business Saturday

November 14th, 2012 ::

By Rieva Lesonsky

Web.com has joined forces with American Express to promote this year’s Small Business Saturday, November 24, 2012. Now in its third year, Small Business Saturday is a day dedicated to strengthening local communities by supporting local, independently owned small businesses.

“Web.com is committed to helping small businesses grow and succeed online,” said David Brown, chairman and CEO of Web.com. “The fact that we’re already helping small businesses get in front of their local customers by giving them visibility in their communities aligns very nicely with the purpose of Small Business Saturday.”

American Express launched the Small Business Saturday initiative in 2010. Last year, millions of consumers shopped at small businesses on Small Business Saturday; more than 230 public and private organizations, 75 corporations and elected officials in all 50 states and Washington DC declared their support for the event; and more than 500,000 small business owners leveraged an online tool or promotional materials for Small Business Saturday.

To ensure your business attracts lots of customers this year on November, 24, American Express is providing a wide range of tools small business owners can use. Visit ShopSmall.com to access:

  • Free online advertising for qualifying small business owners
  • Social media tools to help your spread the word about Small Business Saturday
  • Personalized point-of-purchase materials you can use to show customers you’re participating in the program
  • A searchable map where consumers can find small businesses near them that accept the American Express card

If you’re on Twitter, you can promote Small Business Saturday with the hashtag #SmallBizSat .

November 24th marks the third annual Small Business Saturday, a day to support the local businesses that create jobs, boost the economy and preserve neighborhoods around the country. Small Business Saturday was created in 2010 in response to small business owners’ most pressing need: more customers. American Express is the founding partner of Small Business Saturday.

Image by Flickr user coolinsights (Creative Commons)

 

Retailers Plan to Spend More, Make More This Holiday Season

November 9th, 2012 ::

By Rieva Lesonsky

U.S. retailers have high hopes for the upcoming holiday shopping season, and are spending accordingly on their marketing programs to make sure they grab their share. According to a new survey from Retail Systems Research and Bronto Software, more than 20 percent of U.S. retailers say they plan to significantly increase their spending on mobile, social or email marketing channels this year. An additional 22 percent will slightly increase their marketing budgets.

Overall, retailers are very optimistic about the coming holiday, with 68 percent projecting their sales to increase compared to last year. Of those, almost one-fourth believe that their sales will increase by over 50 percent.

Email, mobile and social media marketing channels are all top concerns for retailers this year, with a full 20 percent of respondents planning to allocate more than half of this year’s holiday marketing budget to one or more of these channels. However, out of the three, email is by far the most important for retailers, with a whopping 87 percent using it and more than 50 percent saying they will send more marketing emails this year than they did in 2011.

To prepare for this massive email marketing push, retailers have been spending money on:

  • Subscriber acquisition (46 percent)
  • Automated/triggered messages (43 percent)
  • Personalization (36 percent)
  • Segmentation (21 percent)

Other areas where retailers have invested in the past year to improve their service and operations include:

  • New email service provider (50 percent)
  • Mobile applications (49 percent)
  • New ecommerce platform (46 percent)
  • Mobile website optimization (43 percent)

“While email is a more established channel and has inherent technologic advantages for communicating with consumers, marketers are getting ready to use mobile and social to break out of the pack,” said Joe Colopy, CEO of Bronto Software, in announcing the results.

Free shipping is the main promotional tool that retailers will use this holiday season; all of the companies surveyed say they will offer some form of free shipping. How will ecommerce retailers lure customers back to abandoned shopping carts? Some 43 percent say they will use an email message offering free shipping, and 35 percent will use percentage-off or dollar-off emails.

Although this survey focused on large retailers, knowing what tactics the “big guys” are planning for the holidays can help you determine your own business’s marketing strategy. How will you beat the giants this holiday shopping season?

Image by Flickr user ccarlstead (Creative Commons)

 

Web.com Small Business Toolkit: I’m Voting App (Voting App)

November 6th, 2012 ::

I’m Voting App

The outcome of today’s presidential election will be important for small businesses. Since we live in a social media-obsessed world these days, you can make your intention to vote known and voice your opinion on Facebook. The I’m Voting app from Facebook and CNN allows users to both make a commitment to vote, and to choose the candidates and issues that matter most to them – the economy, healthcare, immigration, foreign policy and more. You can see what other fans are thinking and follow along all day for updates.

Web.com Small Business Toolkit: Pinalerts (Pinterest Tool)

November 5th, 2012 ::

Pinalerts

If you’re just getting started using social media site Pinterest for your business, you may find it difficult to check on how your bulletin board is doing, what kind of reaction and interaction you’re getting, and how your competitors are doing. Sign up for Pinalerts and you’ll be notified with real-time alerts when someone pins content from your website. You can also enter in your competitor’s URL and get information on their Pinterest activities. It’s a great way to get some new ideas on what works and what doesn’t on this relatively new social media outlet.