A few weeks ago, a new clothing store opened across the street from my house. The first time I went in, I balked at their high prices and never went back -- until they threw a huge neighborhood party, that is. Conscious that my section of town has been suffering from the down economy, the shop started throwing parties every Thursday night with free refreshments, food and live music for anyone who wants to come. The next thing I knew, I decided their vintage belts weren't as expensive as I had originally thought and left with a full stomach and a new purchase.
Nice gestures like these are great for consumers, but also serve as a great marketing and customer-relations strategy, says this Wall Street Journal article. Donating services to charity groups, churches, schools and other nonprofits can "increase local visibility, deepen local business ties and create opportunity for new business," says Christine Banning, vice president of marketing and communications at SCORE, a Washington-based group that provides free counseling to small businesses.
Tuesday, December 15, 2009
Using a Blog to Bring in Business
So you finally did it: You started a blog on your company Web site, and you're trying to update it daily, weekly or monthly. Congrats! You've taken the first step. If you're going to spend the time and energy to blog, though, you better make sure it's paying off. To avoid the most common mistakes that first-time company bloggers make, check out this Newsday article. If you want your blog to succeed, the article states, don't be:
1. Inconsistent. Update your blog regularly. You have to keep providing useful information to your audience to keep them interested. 2. Too elusive. People need to see more than just your company logo when they visit your blog. Give them a name and face, along with contact info. 3. Overly self-promotional. It's OK to brag a little in posts, but don't just tout your company. Instead point your audience to helpful links, studies and other relevant information. 4. Focused only on business. Don't be afraid to get personal in your posts. Show your human side. This will help you create conversations and relationships. 5. Reclusive. Ask for and encourage feedback from your audience. Post content that will spark conversation and debate.
The article also makes an important note about readers, friends, followers, ect: It's not how many you have; it's about how much community you build around your brand.
1. Inconsistent. Update your blog regularly. You have to keep providing useful information to your audience to keep them interested. 2. Too elusive. People need to see more than just your company logo when they visit your blog. Give them a name and face, along with contact info. 3. Overly self-promotional. It's OK to brag a little in posts, but don't just tout your company. Instead point your audience to helpful links, studies and other relevant information. 4. Focused only on business. Don't be afraid to get personal in your posts. Show your human side. This will help you create conversations and relationships. 5. Reclusive. Ask for and encourage feedback from your audience. Post content that will spark conversation and debate.
The article also makes an important note about readers, friends, followers, ect: It's not how many you have; it's about how much community you build around your brand.
Beef Up Your Blog Content
If you've set up a blog for your small business but are having trouble coming up with new, relevant ideas for posts, you're not alone.
"Generating ideas for fresh, original, high-quality content is difficult, especially for those new to blogging," according to this article on OpenForum.com.
To help you brainstorm for ideas, OpenForum suggests five different types of posts to consider writing for your business' blog, including:
Advice or tips: Share your expertise, whether it is with your peers or your customers.
Behind-the-scenes: Help strengthen the relationship with your customers or clients by letting them see a side of your business they normally don't. If you're not up to writing a full entry, take some pictures and post them as a peek into a day in the life of one of your employees—or you.
Interviews or profiles: Talk to one of your employees, an expert in your field, or one of your most loyal customers for a different perspective on issues relating to your business.
"Generating ideas for fresh, original, high-quality content is difficult, especially for those new to blogging," according to this article on OpenForum.com.
To help you brainstorm for ideas, OpenForum suggests five different types of posts to consider writing for your business' blog, including:
Advice or tips: Share your expertise, whether it is with your peers or your customers.
Behind-the-scenes: Help strengthen the relationship with your customers or clients by letting them see a side of your business they normally don't. If you're not up to writing a full entry, take some pictures and post them as a peek into a day in the life of one of your employees—or you.
Interviews or profiles: Talk to one of your employees, an expert in your field, or one of your most loyal customers for a different perspective on issues relating to your business.
Twitter Helps Business Owners Out of Jams
Forget the old 1-800 number. Twitter is becoming the tool of choice for some small business owners who find themselves in a customer-service or public-relations jam, according to this Wall Street Journal article.
The social media and micro-blogging service—where users send "tweets" to followers who have signed up to receive the messages—proved to be a lifeline for Innovative Beverage Group Holdings, Inc., after its Web site crashed due to a surge in online traffic. "Twitter gave us an up-to-the-minute ability to take what would normally be a crisis situation and make it just another event," said Peter Bianchi, who notified customers via Twitter that the company was working to resolve the problem. Twitter also came in handy when a Bartlesville, Okla.-based business, United Linen & Uniform Services, was hit by an ice storm. Instead of e-mailing customers about the status of their orders, the business notified them through tweets.
But Twitter can only help you communicate with customers if you use (and update) it regularly, author Shel Isreal, of Twitterville: How Businesses Can Thrive in the New Global Neighborhoods, told the WSJ. Using Twitter only in a crisis will give you no credibility, he noted. The key is using it to "build trust with people who are relevant to your business."
The social media and micro-blogging service—where users send "tweets" to followers who have signed up to receive the messages—proved to be a lifeline for Innovative Beverage Group Holdings, Inc., after its Web site crashed due to a surge in online traffic. "Twitter gave us an up-to-the-minute ability to take what would normally be a crisis situation and make it just another event," said Peter Bianchi, who notified customers via Twitter that the company was working to resolve the problem. Twitter also came in handy when a Bartlesville, Okla.-based business, United Linen & Uniform Services, was hit by an ice storm. Instead of e-mailing customers about the status of their orders, the business notified them through tweets.
But Twitter can only help you communicate with customers if you use (and update) it regularly, author Shel Isreal, of Twitterville: How Businesses Can Thrive in the New Global Neighborhoods, told the WSJ. Using Twitter only in a crisis will give you no credibility, he noted. The key is using it to "build trust with people who are relevant to your business."
Why Small Business Needs Social Networks
You've probably heard this statement before: Small business owners need to use online social networks. But maybe you've never heard statistics that tell you why. This study by Wetpaint and the Altimeter Group spells it out pretty clearly: The study shows that small business owners who have engaged in social media have boosted their sales significantly.
In fact, the study indicates that businesses that utilize online communities like Facebook and LinkedIn have increased their revenues by 18 percent in the past 12 months. It also finds that social media efforts tends to build on themselves.
What does that mean to you? The more you put your name out there through social networking, the farther your brand will reach.
In fact, the study indicates that businesses that utilize online communities like Facebook and LinkedIn have increased their revenues by 18 percent in the past 12 months. It also finds that social media efforts tends to build on themselves.
What does that mean to you? The more you put your name out there through social networking, the farther your brand will reach.
Capitalizing on the 'Buy Local' Trend
I'm planning a big trip for February, but I haven't pinpointed where I want to go yet. All I know is it will definitely be somewhere in the U.S. Why would I spend my money overseas when my own country could use the boost? OK, so that's not exactly the best example of buying local, but you get the point.
Consumers are wanting to boost their own economies, and they can offer no greater impact than in their own communities. Want to encourage shoppers to look no further than down the street? Then read this Wall Street Journal article, which offers strategies for showcasing your local roots.
Consumers are wanting to boost their own economies, and they can offer no greater impact than in their own communities. Want to encourage shoppers to look no further than down the street? Then read this Wall Street Journal article, which offers strategies for showcasing your local roots.
Small Business Optimism on the Rise
I know what you're thinking: Not another post about the economy. But I couldn't help myself when I saw this Yahoo! news report that small business owners are feeling optimistic about economic growth in the next three to six months. On top of that, these small business owners are making plans for aggressive growth in the next few months. Still, there's room for entrepreneurial optimism to grow. Here's what the Tennessean's Jeff Cornwall suggests will ease the burden on America's small businesses:
Cut tax rates. Entrepreneurs need to see that their risk-taking can lead to the opportunity for income and wealth down the road.
Decrease regulation. The Small Business Administration estimates that when compared with large businesses, small operations must spend four and a half times more per employee to comply with environmental regulations and 67 percent more to comply with tax regulations. It's time to cut some of the red tape.
Stop trying to steer the economy. Markets have proven to be pretty good at picking economic winners. Rather than trying to use tax policy and other forms of government incentives to support one industry over another, now is the time to let markets work.
Cut tax rates. Entrepreneurs need to see that their risk-taking can lead to the opportunity for income and wealth down the road.
Decrease regulation. The Small Business Administration estimates that when compared with large businesses, small operations must spend four and a half times more per employee to comply with environmental regulations and 67 percent more to comply with tax regulations. It's time to cut some of the red tape.
Stop trying to steer the economy. Markets have proven to be pretty good at picking economic winners. Rather than trying to use tax policy and other forms of government incentives to support one industry over another, now is the time to let markets work.
Small Businesses Make the Best Out of Bad Times
Needing an extra dose of inspiration? If you feel like the recession will never end for your business, and the policymakers in Washington D.C. have forgotten all about you in their plans for economic recovery, check out this Fortune Small Business article posted to CNNMoney.com. The year ahead may not be the best for small business, but one thing is certain: Many small business owners out there are making the best out of the situation. From discovering how to run their businesses more frugally to picking up clients and customers left behind by corporate America, entrepreneurs are finding creative ways to survive—and even thrive—in these difficult times, as this article illustrates.
Fighting the Recession Together
Whoever said that people didn’t care about people was dead wrong. They obviously haven’t met this group of generous small business owners. In this article on CNNmoney.com, meet five businesses that are helping the jobless get back on their feet and prepare for interviews by giving away free services. Among these services include free haircuts, dry cleaning and shoes.
It hasn’t been bad for business either, especially with all of the press coverage these companies are getting for their extraordinary acts.
It hasn’t been bad for business either, especially with all of the press coverage these companies are getting for their extraordinary acts.
Small Business Gift-Giving Shifts From Employees to Customers
American Express OPEN just released its Small Business Holiday Monitor, an annual survey of small business owners that details their spending plans for the holidays. According to the survey, roughly the same percentage of small business owners (47 percent) plan to spend the same amount of money ($455) on customer gifts this year, compared to last year. That's the good news.
The bad news is that many of them plan to fund these customer gifts by cutting back on employee bonuses and gifts. The survey found that fewer small business owners (35 percent) are giving employee gifts this year (vs. 46 percent in 2008), fewer to give year-end bonuses (31 percent vs. 44 percent in 2008) and fewer will give raises (16 percent vs. 30 percent in 2008).
If you're sacrificing employee bonuses and gifts for showing appreciation to your customers, just remember to thank your employees for all of their hard work in some other way, be it an extra day off over the holidays or some other gesture of gratitude.
The bad news is that many of them plan to fund these customer gifts by cutting back on employee bonuses and gifts. The survey found that fewer small business owners (35 percent) are giving employee gifts this year (vs. 46 percent in 2008), fewer to give year-end bonuses (31 percent vs. 44 percent in 2008) and fewer will give raises (16 percent vs. 30 percent in 2008).
If you're sacrificing employee bonuses and gifts for showing appreciation to your customers, just remember to thank your employees for all of their hard work in some other way, be it an extra day off over the holidays or some other gesture of gratitude.
When Firing A Client Pays Off
With the economy still not improving as much as we'd all like, you wouldn't thinks any businesses would be shedding customers--no matter how much of a headache they can be. But these days, small business owners are cutting ties with customers who make late payments, expect special treatment or ask for discounts, says this Wall Street Journal article.I know what you're asking yourself: What's the up side of losing business? According to Kishau Rogers, owner of Websmith Group LLC in Richmond, Va., dropping high maintenance or late-paying clients boosted her business in the end. According to the article, "By eliminating 5% of her clientele this year, [Rogers] is saving 20% more of her time while the Web-site development firm's 2009 revenue is on track to rise 10%."
Bartering for Business
“I’ll trade you!” It’s a phrase we all know well. It’s certainly a staple in every elementary lunchroom across the country. But who knew that small business owners could use this concept to trade one set of goods for another in order to grow their business?
The brains behind the Barter Business Unlimited's Annual Business and Holiday Barter Show, that’s who. This year’s annual event attracted business owners from all over who traded warehouse space for fine jewelry, advertising for clocks, and other products and services.
The brains behind the Barter Business Unlimited's Annual Business and Holiday Barter Show, that’s who. This year’s annual event attracted business owners from all over who traded warehouse space for fine jewelry, advertising for clocks, and other products and services.
Britain economy remains in recession
LONDON -- Britain's statistics office says the domestic economy shrank 0.4 percent in the third quarter of the year - dashing hopes that the country may have exited recession.
Friday's update from the Office for National Statistics shows that gross domestic product - which measures the total amount of goods and services produced by a country - was dragged lower in the July to September quarter despite recent gains in Britain's dominant services sector.
The British economy has not recorded growth since the beginning of April 2008 - it officially entered recession at the turn of the year after two quarters of negative growth.
Economists had expected the report to be a close call between growth and contraction.
Friday's update from the Office for National Statistics shows that gross domestic product - which measures the total amount of goods and services produced by a country - was dragged lower in the July to September quarter despite recent gains in Britain's dominant services sector.
The British economy has not recorded growth since the beginning of April 2008 - it officially entered recession at the turn of the year after two quarters of negative growth.
Economists had expected the report to be a close call between growth and contraction.
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