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Web.com Review: Small Business Resource: Acteva: Event Registration Tool

August 10th, 2012 ::

Acteva

If you are setting up an event or seminar for your business, you want registering attendees and accepting payments to go smoothly. Acteva is an online service that can do it all for you–and if the event is free, you might not even have to pay for anything. Simply set up the event details (such as time and date) online, then download your email contact list, and Acteva’s management team takes care of the rest. Acteva handles the nitty-gritty payment and confirmation details, so you can tend to more important things (like preparing for the event). You can also connect Acteva to your social media platforms to garner more exposure for your event.

Hands Off My Stapler Contest: Small Business Contest: Small Business Resource

August 8th, 2012 ::

Hands Off My Stapler Contest

Every office has a stapler thief. The problems are catching the thief and figuring out a way to keep your stapler where it belongs—on your desk. Win prizes for your business, including desks, shredders, staplers and more, in the OFM and Swingline Hands Off My Stapler Contest. All you have to do is share how you (or your employees) keep your staplers from being poached by  coworkers. To enter, email a photo in jpeg format to stapler@ofminc.com with a short explanation of how you make sure your stapler stays at your desk. All entries must be submitted by 11:59 p.m. on September 30, 2012, to be eligible.

MasterCard Business Network: Online Finance Tool: Small Business Resource

August 6th, 2012 ::

MasterCard Business Network

MasterCard has recently launched a new online tool for small businesses called the MasterCard Business Network. Based on feedback from small business owners, MasterCard is helping small businesses by giving them the payment power of big business. The goal of the network is to offer tools and pricing that were previously only available to large companies, and to give smaller businesses leverage so they can purchase at better prices than they would normally get by themselves. Participants receive access to exclusive discounts on more than 650,000 products from national distributors; help with travel and dining booking and management; and the capability to create, save and print basic expense reports for free.

Retailers: Time to Take Tech to the Next Level

August 1st, 2012 ::

By Rieva Lesonsky

The future of retail is online, mobile and social, reports a recent Motorola Solutions survey reported by Marketing Charts. U.S. retailers polled predict that within the next five years, nearly half (42 percent) of retail sales will come from online, mobile and social commerce sites. To keep customers visiting their stores in the face of this trend, 75 percent of retailers say developing a “more engaging in-store customer experience” will be essential, and more than 40 percent plan to provide personalized product details to customers’ smartphones based on their prior browsing or purchasing behavior.

Better customer service is the core goal for retailers in the survey, with 51 percent saying they will invest in new technology to improve their customer service.

But there’s a big difference between what retailers want to do and what they can currently do. Although the retailers polled want to customize their in-store experience to each shopper, three-fourths of them admitted they currently have no way to know when a specific customer visits their store, 85 percent don’t know how to customize a store visit, and 89 percent can’t link shoppers’ online actions to their in-store behavior.

Among the technology retailers plan to deploy in the next five years is mobile or portable POS technology manned by clerks. Currently only 9 percent of retailers offer this, but 18 percent plan to add it. And 12 percent plan to offer customers the ability to self-checkout on their own mobile device (just 4 percent currently do).

So far, about one-third of retailers offer consumers the ability to buy on a mobile device in-store and have a product shipped to them. More than half (59 percent) say they will offer this within five years.

There are some ways you can improve customer service without any technology. Two in five retailers surveyed said not being able to find something they came to buy is a top complaint among customers. Simply helping customers find products or order them if you don’t have them in stock is one easy way to improve satisfaction.

Marketing Charts also noted that most customers prefer to be recognized in-store in person, not via technology. Simply greeting customers as they come in or browse, or setting up a frequent or preferred shopper program where you can greet customers by name as they check out, can improve customers’ experience in your store.

Last, but not least, integrate your in-store and ecommerce experience. Allow customers to buy online and return at your store; buy online and have it shipped to your store for pickup; or order in-store and have it shipped to them.

How are you keeping customers happy?

Image by Flickr user cogdogblog (Creative Commons)

 

Protecting Your Business From a Customer’s Bankruptcy

July 31st, 2012 ::

By Maria Valdez Haubrich

The economy is improving—or is it? In today’s roller-coaster economic environment, the risk that a key customer of your small business might declare bankruptcy is ever-present. How can you protect your business from a key supplier or customer’s misfortune?

Some steps to protect yourself should be taken before you ever take on a new client. If you haven’t already done so, make the following two steps part of your processes for every new customer:

  1. Credit check: Each new customer should complete a credit application and you should verify their information with a major credit agency. If your customers are other businesses, you should request, and contact, references from several other businesses they’ve done business with. Find out whether the company has any history of late payments or other problems.
  2. Contract: It’s easy to get so excited about a new customer that you proceed without having a firm contract in place. That’s a big mistake, because without a contract you severely limit your chances of ever getting repaid if the company does declare bankruptcy. For added protection, put a clause in your contract that specifies what will happen if the customer declares bankruptcy or is unable to pay.

Once you are satisfied that the customer meets your credit standards and you have a contract in place, your work isn’t done. Keep abreast of your company’s financial data and accounts receivable so you notice when customers suddenly start to pay more slowly. If you use accounting software such as QuickBooks, it’s easy to track payment histories and see patterns.

If you notice a customer suddenly paying later and later, get on top of the situation. You may need to instigate a discussion to see what the problem is. Perhaps it’s something as simple as a new office manager or accountant who is getting up to speed on the company’s systems, but you need to find out.

If a customer stops paying entirely or if a check bounces, act quickly. Contact the customer and find out what’s going on. If there is a problem with the customer’s finances, it’s important that you not fill any further orders or provide services until they get current on their missed payments. You will also want to put future products or services on a payment-upfront basis. What you want to avoid is a situation where you keep delivering for a customer who can’t pay, thus running up a bigger and bigger unpaid bill.

If worse comes to worst and your customer declares bankruptcy, you’ll receive a notice in the mail. The first step, again, is contacting the customer personally. You may be able to resolve the matter without getting an attorney involved. If you have shipped product that hasn’t been paid for, see if you can get it returned. The United States Bankruptcy Code gives you 20 days after the business has filed for bankruptcy to do this.

What if you can’t get your money back? Then you will need to enlist an attorney. Good record-keeping will help in your cause. Gather all the documents you can about your relationship with the customer, including how much money they owe you, contracts with the company, invoices and any other records that prove what the company owes you.

If you use the preceding steps, however, hopefully it won’t come to that. When it comes to protecting your business from the fallout from customer bankruptcy, an ounce of prevention is worth a pound of cure.

Image by Flickr user steakpinball (Creative Commons)

 

MindBloom: Personal Assistant App: Small Business Resource

July 27th, 2012 ::

MindBloom

If your business is not quite big enough to hire the personal assistant you need, the MindBloom app can at least help you get a bit more organized. Let MindBloom prioritize what is really important, whether it be business meetings, travel, errands or even free time. Download the app for your iPhone and/or iPad, and you’ll receive customizable prompts to nudge you to stay on schedule. You can personalize your prompts with your images and music, and even send inspirational nudges to employees and colleagues.

 

Does Retailing Have a Future?

July 26th, 2012 ::

By Maria Valdez Haubrich

Are retail stores becoming obsolete? In a new report by Capgemini Global, more than half of respondents around the world say that by 2020, retail locations will be nothing more than “showrooms” for choosing products and ordering them online.

GigaOm took a look at how bigger companies are fighting showrooming by blending the online and offline shopping experience. Walmart, Macy’s, Sears and others are adding features such as pickup locations for products ordered online, payment booths, drive-through customer service centers and other services that cater to however customers want to shop.

How can a small retailer compete in this world of the future? One way is by understanding the six different types of digital shoppers The Capgemini report identified:

  1. Social Digital Shoppers (25 percent): Mostly under age 35, they are heavy social media users and like sharing opinions and experiences online. They are also heavy mobile users and willing to pay with mobile devices.
  2. Digital Shopaholics (18 percent): These early adopters are the most active in using digital shopping and devices such as smartphone apps and in-store technology.
  3. Occasional Online Shoppers (16 percent): The majority of these shoppers are over 45. They rarely shop online, but when they do, they go online mostly to select and compare items and to track deliveries.
  4. Rational Online Shoppers (15 percent): The second most active online shopper group, they prefer shopping online but don’t care about social media or mobile apps.
  5. Value Seekers (13 percent): These price-sensitive shoppers are mostly women. They don’t care much about new technology; the main reason they shop online is to find the best prices on products they already plan to buy.
  6. Techno-Shy Shoppers (13 percent): This group isn’t confident in using digital channels or devices and don’t think they’re important in any phase of the shopping process.

As you can see, nearly every type of shopper is going online to some degree, so if your brick-and-mortar store doesn’t yet have an ecommerce strategy, you need to develop one. If your ecommerce site doesn’t have a mobile strategy, you need to develop one. And even if you do have a mobile strategy, you need to keep refining it…or get left behind in the future of retail.

Image by Flickr user L. Marie (Creative Commons)

Timewerks: Billable Time App: Small Business Resource

July 25th, 2012 ::

Timewerks

If you or your employees bill by the hour (or minute), there’s no time to waste: Download the handy app from Timewerks. Available for your iPhone or iPod touch, Timewerks lets ffreelancers, consultants, contractors or salespeople keep track of their time quickly and easily. The app lets you track multiple clients; add timesheet hours and capture notes for each project task; and invoice for billable items, materials and expenses. The app has a built in stopwatch and the timer keeps running even if the application is closed. Bonus: No network connection is needed.

 

Who’s Doing What on Social Media?

July 25th, 2012 ::

By Rieva Lesonsky

What’s the state of social media today? Growing strong, according to a study from Nielsen, State of the Media: The Social Media Report. Here are some of the findings:

It’s popular. Nearly 80 percent of active Internet users in the U.S. use social networks and blogs. What’s more, social networking and blog sites dominate Americans’ Internet use, accounting for nearly one-fourth of time spent online. Americans spend twice as much time on social media as they do on the next most popular Internet pursuit, online games.

It’s growing. Most growth in social media is taking place in the older age groups; social media use among the 55-plus set more than doubled year-over-year. But that doesn’t mean the younger demographics are tired of social media—not by a long shot. Both the 18-to-34-year-old category and the 35-to-54 category saw more than 60 percent growth in social media use year-over-year.

It’s mobile. Almost 40 percent of social media users report viewing social media content on a mobile phone, and social networking apps are the third most popular type of app for U.S. smartphone owners.

It’s global. Social media’s popularity isn’t confined to the U.S. Nielsen surveyed 10 major global markets and found more than 75 percent of active Internet users in those nations use social networks and blog sites.

Social users like video. Online video is popular with both men and women. Women are more likely to watch online videos via social network or blog sites. However, men are more likely to watch online videos overall. Men watch more videos and watch them for longer time periods than do women.

Social users like shopping. U.S. social networkers are 12 percent more likely than average Internet users to shop online; 70 percent of them do so. More than half (53 percent) of active social media users report following a brand on social media, compared to just 32 percent who follow a celebrity.

Image by Flickr user ivanpw (Creative Commons)

How to Protect Yourself and Your Business From Fraud

July 24th, 2012 ::

By Karen Axelton

Is your small business at risk of identity theft or credit card fraud from improper use of business and personal credit cards? A recent report from Javelin Strategy & Research, 2012 Identity Fraud for Small Business Owners, reported by Fox Business, has some alarming news. Here’s some of what Javelin found, and what it means to your business’s security.

First, small business owners are more likely to be affected by fraud (8.8 percent) than are non-business owners (4.7 percent). What are some of the reasons?

Failure to separate business and personal accounts. More than 50 percent of entrepreneur surveyed admitted they use personal credit cards or bank accounts for business transactions and expenses. In fact, 38 percent don’t even have separate business accounts—they use their personal accounts for everything.

Failure to review charges and expenses. Just 38 percent of small business owners in the survey say they review their business transactions, such as credit card and bank statements, every month.

Failure to take security precautions. Just 5 percent of small business owners regularly do background checks on job candidates.

What are some steps you can take to prevent being a victim of fraud?

Always separate business and personal accounts. Mingling your accounts not only puts you at risk of identity theft, but could also lead to problems with the IRS if you or your business are ever audited. Always set up a separate business bank account and business credit cards.
Conduct background checks. You should do checks on all potential hires, but it’s especially for anyone who will have access to your business’s bank accounts, will be handling finances or will be using company credit cards or expense accounts.

Monitor expenses. No matter how busy you are, take time to review your business’s charges and expenses personally every month. This way, you’ll be able to notice any suspicious or unusual activity before it gets out of hand.

Image by Flickr user Vectorportal (Creative Commons)