Posts Tagged ‘Branding’


What Is the Ice Bucket Challenge for Small Business Owners?

Doing_the_ALS_Ice_Bucket_Challenge_(14927191426)Have you taken the “Ice Bucket Challenge”? It challenges friends to put a bucket of ice over their head or donate $100 to the ALS Association. The rules state that within 24 hours of being challenged, participants need to video record themselves by accepting the challenge followed by pouring a bucket of ice over their head. The participant then challenges others on that video. As a result of this viral phenomenon, the ALS Association has received $31.5 million in donations during the past month. 

What would the small business version of the Ice Bucket Challenge? Consider these for yourself:

“The Cash Flow” Challenge: You only have $1000 in the bank on Monday to keep running your business until Friday. Help to beat this challenge: Learn how to read a cash flow statement every month so there are no surprises.  If cash is low, isolate the expenses that need to absolutely be paid or it will drive you out of business. Be direct to vendors and employees about when they can expect to be paid.

“The Customer Satisfaction” Challenge: Your top customer is dissatisfied and is threatening to leave your business. Help to beat this challenge: Listen fully to what the customer has to say. Ask them what the best solution to the problem is. Follow through to a resolution and report back to them on the results.

“The Key Employee Left” Challenge: A key employee just quit and now you have to replace them in 24 hours. Where do you look to replace them? Help to beat this challenge: Always ensure that your employees are cross trained so if one leaves, another can do that job for at least a short time.

“The New Version of Your Product Doesn’t Work” Challenge: You announced a new product, but the latest test show it does not work. You have thousands on backorder. Help to beat this challenge: Isolate what is wrong with the product and what can it be fixed in a reasonable amount of time. Take any other functionality out and notify backorder customers when a product can be shipped.

“The 16 Hours of Work Needs to Get Done in 24 Hours” Challenge: You have a huge pile of work to get done today that will take a lot longer than you have. Help to beat this challenge: First decide what not to do. How will it really affect the business if the work was done tomorrow instead of today? What two things must get done today that are critical to the company?

What would your small business challenge be?


Mondays with Mike: 7 Tips For Making Your Employees Marketing Superstars

?????????????????????????????????????????????????????????????????????????????????????????Wouldn’t it be wonderful if you had a team of enthusiastic marketing superstars who promoted your brand everywhere they went?  Here’s a secret:  You can make it happen!  Consider the fact that every one of your employees interacts with dozens and dozens of people everyday, and you’re missing your opportunity if you don’t enlist them in your mission to promote your brand.  Here are some sure-fire strategies for making your employees part of your marketing strategy:

  1. Speak their language.  Every single member of your staff is motivated in a slightly different way.  Take the time to figure out what’s important to your employees, and you’ll be able to tell your story in a way that matters to them.  If you can sell your staff on your vision, they’ll sell it to your customers.
  2. Create the right climate.  Make sure that your staff understands that you’re not just in business for the bottom line.  Show the ways in which you enrich your community, whether it’s by providing necessary services or through your investment in community programs.  If your staff feels good about the work they’re doing, they’ll share their enthusiasm.
  3. Provide awesome wearables.  The key to this tip is making the wardrobe genuinely cool – something that your staff will actually choose to wear.  Your tagline or logo on a t-shirt becomes a walking billboard.  If you make sure your staff actually likes their company togs, then you’ll be sure that they won’t end up in the trunk of the car, where – let’s face it – they’re not doing you any good.
  4. Use social media.  Whether your run a caption contest or share pics of your staff wearing your logo in interesting locales, make sure you leverage the powerful tool provided by the various social media apps.  Folks love that fifteen minutes of fame – so why not use it?  Turning your brand into one that people have fun sharing increases your visibility and strengthens brand loyalty.
  5. Provide Halloween costumes.  Create a character that suits your company climate and offer your staff the chance to celebrate without having to stress over what to wear.  Whether you create a superhero – think something like Uber Geek if you’re an IT company or Grammar Nazi if you’re a PR firm – you’re injecting a little fun into your corporate image.
  6. Use every opportunity to advertise, no matter how small.  One of my favorite, often overlooked examples of an underused means of getting your company’s name out there is to make sure that your company wi-fi and your employees’ mobile hotspots are all branded with your company’s name.  The next time your sales rep is working and sipping a latte at Starbucks, everyone who logs on to the free wi-fi will see your company’s name.  Never miss a chance to make in impression.
  7. Don’t forget the hardware.  Don’t send your staff out with laptops that advertise for Apple; slap your awesome logo on everything that sits still long enough.  Your staff can make countless impressions just by toting gear that advertises for you.

Be open, and be creative!  Brands are built one impression at a time, and you have more opportunities than you realize.


Mondays with Mike: 7 Crazy Ideas To Turn Your Customers Into Raving Fans

The far reach of social media has fundamentally altered the way in which we interact with one another.  Things happen lightning fast, and it’s commonplace to get moment-to-moment updates on what your friends are doing.  While you may believe that it is – in fact – possible to OD on never-ending selfies, the prevalence of digital photos and tweets that reach millions of followers is a huge opportunity for savvy entrepreneurs who are able to enlist their customers in building their brands.  Here’s how to convert your customers to your biggest fans:

  1. Have your clients do some of the work.  If you can find a way to let customers make doing business with you a unique and personalized experience, they’re far more likely to tell their friends about you.  The best recent example of this principle are the number of business popping up that provide detailed art instruction for a group of people to gather at a bar or restaurant and paint their own picture.  You see Facebook posts of smiling faces and proud amateur artists.  They’re selling the experience to their friends.
  2. Play hard to get.  The American Express Black Card is the best example bar none.  It’s obscenely expensive, but people fall all over themselves, coveting an invitation to open one, and only a few customers ever receive that invitation.  Creating a sense of exclusivity makes your product that much more desirable.
  3. Deny your own existence.  One of the reasons there was so much buzz about the Amex Black Card when it was created was because Amex refused to confirm the card’s existence.  They relied on the excitement of gossip and speculation to generate interest.
  4. ????????????????Encourage tattoos.  I know this tactic may sound extreme, but when folks start permanently applying your logo to their bodies, you’ve officially arrived.  Associating your brand with a lifestyle and developing a great logo is a good start.  Think no one would ever ink a logo?  Look around you at the beer labels, band logos, and Harley Davidson tattoos that are out there.  It’s possible.
  5. Go underground.  Throw exclusive parties for your very best customers – parties that they must be invited to attend.  Offering special perks for invitation only rewards clubs makes customers crave that favored status.
  6. Put your customers through boot camp.  The idea here is to have a series of steps that customers have to go through in order to achieve a special status.  Give them special status and reward them with exclusive offers that are available only to the elite customers who’ve been dedicated enough to reach your upper echelon.  Give customers a shirt or a car magnet that boasts about their status, and you’re generating interest everywhere your customer goes. 
  7. Create an annual event.  Start a tradition that anchors your company as a valuable member of your community.  Whether you sponsor a fall festival or a public Easter Egg hunt, giving your community something to look forward to creates lasting, positive associations for your company.

So the real secret of all of these techniques is what happens afterwards.  By creating loyal, dedicated fans of your brand, you’re inevitably creating brand ambassadors who will Tweet, Instagram, and Facebook about your company, spreading the word with every like, share, or comment.  That’s why these raving fans are so valuable – they become your cheerleaders and enthusiastically help build your brand.  


How to Lower Your Bounce Rate on Your Small Business Website

???????You have a beautifully designed website. Check. Targeted keywords on the website. Check. You have a way to capture email addresses on your website. Check. So why aren’t you getting more customers from your small business website? You might have a decent flow of people visiting your site, but if they’re not converting to sales, it’s time to look at the reasons why. Start by examining your bounce rate.

What the Heck is a Bounce Rate?

Just like a shiny rubber ball, your bounce rate happens when people land on your site and then quickly bounce away. You can find your bounce rate by looking at your Google Analytics once e month. The technical definition for bounce rate: the percent of people who leave your site after visiting just one page. The higher the bounce rate, the more people are leaving rather than looking around. The average bounce rate is 50%. Here’s an illustration:

  1. Someone searches for something they’re looking for online.
  2. Your site shows up in those search results. They click your link.
  3. They land on your home page, don’t see what they expected, then leave.

So the question is: why are they not finding what they want? Why do they leave before even exploring your site? Typically there are a few reasons for this.

1. Your Design is Unappealing

While you wouldn’t expect a visitor to your site to hold bad design against you, first impressions really do matter. And if your website hasn’t been updated for 5 years, or is cluttered with ads or popups, there’s not much you can do to convince people to stay, even if your products are amazing.

Fortunately, there’s an easy fix for this: get a new design! Website design has come way down in pricing, and there are even templates and platforms you can customize and manage yourself.

2. Poor Keywords

Let’s say the name of your company is Red Ball Marketing. You don’t actually sell red balls, but people still land on your site looking to buy red balls. You’re probably not willing to change your company name, but you can put more effort into appearing in search results for better keywords. You should know your top 6 keywords. If you haven’t really put much thought into your keywords, you’ll get a mix of traffic of people looking for lots of things, but not really what you sell.

Figure out the top keywords your audience is searching for and make sure you use them throughout your site, especially in your blog titles and static pages. For your marketing company, that would be terms like:

  • Content marketing
  • Marketing firm
  • Marketing for small business

If you continue to work to build your presence online with those keywords, as well as blogging, you should start to move up those search results and attract people who are looking for what you’re selling.

3. You Lack Calls to Action

Now that search engines have led leads to your website, it’s your job to make them drink the koolaid. If your home page lacks any call to action, how will visitors know what you want them to do? Consider your call to action your instructions for visitors to your site. Do you want them to:

  • Buy from you?
  • Get a free quote?
  • Subscribe to your newsletter?
  • Download a free ebook?

Then let them know! Make your call to action bold, colored differently from surrounding text, and simple to follow.

Your website holds the potential to convert visitors into customers. But you’ve got to ensure you’re targeting the right people with your content and keywords, and that your site is an inviting place to shop. Then you can lower that bounce rate and increase sales!


Be Like Google: How to Build a Valuable Brand

Your company’s brand is what people say when you are not around. Customers buy from brands that they know, like and trust. If built right, your brand can be one of the most valuable assets your company owns.

Google-LogoThis past year, Google finally topped Apple for the title of the world’s most valuable brand. According to Millward Brown’s BrandZ study, Apple’s brand value diminished 20 percent to an estimated $148 billion while Google’s brand value increased 40 percent since last year to reach $159 billion. Rounding out the top five on the list of the most valuable brands are two more technology firms: IBM at $170 billion and Microsoft at $90 billion. The fifth spot is claimed by fast food giant, McDonald’s. Where is Coca-Cola? Number 6.

Including the top four most valuable brands, a total of 18 technology companies made the list accounting for $827 billion in brand value. Facebook’s brand value increased 68% to reach number 21, while Twitter and LinkedIn make their debut to the list coming in at 71 and 78 respectively.

According to financeonline.com, there are several explanations for Apple’s fall. Here is what happened and what small business owners can learn from the world’s top brands:

  1. Perfectionism can slow your company down. Apple and Google could not be more different with how they choose to roll out their products. Apple exemplifies perfection and secrecy, while Google is known for releasing beta versions of their products and embracing feedback from the crowd. Overall, Google seems to take more risk (like Google Glass and a self-driving car) and is less afraid of failure. Lesson: You will make mistakes, so fail faster. Done is better than perfect.
  2. Build your brand image carefully. Even today, the Apple brand is impossible to separate from its cofounder, Steve Jobs. Can the company keep its winning brand without its visionary leader? Pundits continue to ask questions like how much of Apple’s breakthrough products was the result of one man’s genius? Alternately, Google is seen as a team of incredibly talented people on a mission to develop the world’s most innovative ideas. Lesson: A brand image can grow more easily and sustainably if it is not be tied to one person.
  3. If you’re going to set the bar high, make sure you can reach it. For a decade, Apple redefined product categories with iTunes, the iPod, iPhone, and iPad. This is what consumers have come to expect with every new product. Its failure to launch an innovative new product to match the genius of the past has contributed to its fall. Lesson: Don’t get caught in the Innovator’s Dilemma. http://en.wikipedia.org/wiki/The_Innovator%27s_Dilemma

Set the bar high for others, but be able to consistently reach it yourself.

How have you made your brand valuable?


How to Define & Refine Your Elevator Pitch

Stocksy_txpb08fd375357000_Small_170332First impressions really do matter. Think back to the last time you attended a networking mixer. Did you have a quick and smooth response to the question, “What do you do?” Or did you stutter and stumble over your words, finding it difficult to explain your business? If it was the latter, it’s time to define or refine your elevator pitch.

First, What Is an Elevator Pitch?

Consider it your verbal commercial; it’s how you explain what your business does and how it can benefit the person you’re talking to. Typically you can get it all out in 30 to 60 seconds. Any longer, and you will bore your audience.

What’s Wrong With Your Current Pitch

Think about the response you get with your current elevator pitch. Do people look confounded when you try to explain what your business does? Do they look around the room, bored and ready to escape? These are clues that can help you understand what needs to be fixed with your current spiel.

Your audience doesn’t care what you think is great about your company. They care about how it can help them. So if your current pitch is focused on the features of your business and not the benefits to your audience, you’re not succeeding in connecting with your audience the way you need to.

Perfecting Your Pitch

Now that you know what’s wrong with your old pitch, toss it aside and start brainstorming on your new one. Essentially, your elevator pitch should have these three components;

  1. The problem you solve for people
  2. How you solve it
  3. What makes you unique

Now, that doesn’t mean you have to be boring in addressing each point. Some of the most successful elevator pitches begin with a thought-provoking question, like:

Could you stand to make more money?

Tip: make the question an automatic yes to get your audience in a receptive frame of mind. Make it an obvious question to answer; who would answer no to the question above?

Next, look at where your audience is coming from. If you’re at a small business networking meeting, probably every small business owner is there to find potential customers.  Knowing this, you can move on to that pain point:

I’m Melinda Emerson, the “SmallBizLady,” and I help small businesses like yours bring in more money.

Now you’ve really got their attention. You’ve latched on to a problem they have, and now you’ve told them you can fix it. Now they want to know how.

I do that by looking at what’s not working in your business, helping you fix it, and guiding you to find new customers.

Now, I could have said that I offer marketing consultation services, product development, and marketing analysis, but I didn’t want my audience’s eyes to glaze over. They want the big picture: I can help them make money. How I do it is a conversation we can have one-on-one if they’re interested.

If you’re speaking to a crowd, you can also tell people how to find you. Typically mentioning your website is sufficient.

Don’t be afraid to have several versions of your elevator speech, especially if you meet with different groups. Tailor it to fit your audience.

How to Find Out if It’s Working

The best way to measure the success of your elevator speech is to gauge reactions. If people are engaged when you speak, you’re doing a good job. If they come up afterward to ask questions, even better. You want your elevator speech to be a teaser that makes people want to exchange business cards and learn more about what you do.

Armed with your new elevator speech, you’ll be ready to knock ‘em dead at your next networking event!


Nextiva Tuesday Tip: Selling to Millennials? You Need a Loyalty Program

Stocksy_txp65da3129op6000_Small_134151If your small business doesn’t have a loyalty program—but does have Millennial customers as part of your target market—you may want to reconsider and add some type of rewards program to your marketing mix. The 2014 Loyalty Report from Bond Brand Loyalty reports that U.S. Millennials (defined as aged 20 to 34) are more likely than other age groups to participate in loyalty programs. What’s more, they’re more likely than other age groups to change their shopping behaviors based on a loyalty program, the study says.

A whopping 60 percent of Millennials would switch brands and two-thirds would change where they buy in order to get more loyalty rewards. In addition, 67 percent contend they wouldn’t be loyal to a company without a good loyalty program.

Consumers overall are enrolled in an average of 10.4 loyalty programs, and are active in about seven of those. While loyalty programs are widespread, consumers are getting slightly more unwilling to share personal information with them. Some 32 percent say they worry about divulging personal information, compared to 29 percent last year.

What works to get customers to spill their data? Offering discounts based on prior purchasing behavior, inviting customers to special events, customizing offers for them and inviting them to online communities for loyalty program members are all effective ways to get users to share their personal data. In addition, users say that when a company’s loyalty program makes them feel valued and important, they’re more likely to share personal information with that business.

However, there are some important differences in what works for Millennials as opposed to other age groups. Millennials are more likely to want to interact with your business on a mobile device. They’re also more likely to care about non-monetary rewards, such as getting recognized by their peers or being able to share their experiences with others.

Craft your loyalty rewards program to appeal to your desired customer base, whether that’s seniors who want plain old punch cards or mobile-loving Millennials who want to track everything on their smartphones. Your efforts will pay off in greater loyalty and higher sales. 


Nextiva Tuesday Tip: How to Hold an Online Focus Group

Stocksy_txp14c2a2052O6000_Small_64388 (1)Holding a focus group is a great way to learn what your target customers want from your business. Until recently, however, focus groups required physically getting representatives of your target market into a location; rewarding them with money, free gifts, food or some combination of all three; and organizing and recording the focus group session. This could be an expensive, stressful hassle for small business owners.

Now there’s a better way: You can simply go online to host a virtual “focus group” using survey tools and social media. While it may not be as in-depth as a real-world focus group, because you’ll be able to incorporate more people’s opinions, you will actually get a better feel for what your target customers think.

Here are some tips for making online focus groups work.

  1. Be specific. Online focus groups work best when they cast a wide net over a narrow subject, so it’s important to narrow down exactly what you want to find out. For example, if you sell women’s clothing online and you’re considering opening a physical store, you could ask whether customers would drive to a physical store, what local area would be preferred and what days and hours they would be likely to shop.
  2. Keep it simple. Customers get bored and tired if your online survey goes on too long. You can break your survey down and ask one or two quick questions a day right on social media. For example, use polling apps to set up a poll with radio button options on Facebook, or tweet out a question for users to answer. Even if you are conducting a longer survey, it’s best if you ensure it can be answered in just a few minutes.
  3. Provide room for expression. Radio buttons are an easy way to conduct online surveys, but make sure you leave a blank form at the end of the survey where users can add detailed comments or opinions. This can provide valuable insights into what customers want (or don’t want) from your business.
  4. Pay ‘em back. You may not need to order in pizza for customers of your virtual focus group, but you should reward them for their time if they take a survey longer than one or two questions. A good way to motivate users without going broke is to enter all survey respondents in a drawing to win a free product or other prize from your business. You could also offer a discount such as a code good for $5 off their next purchase.
  5. Use technology. Survey tools such as SurveyMonkey, Create Survey and QuestionPro let you create surveys in a variety of formats, then use analytics tools to dig into the results.
  6. Follow up. Ask survey respondents to share their contact information with you if they are comfortable having you follow up with more questions. This enables you to probe deeper into customers’ interests, wants and concerns, just as you would in a real-life focus group. 

Selling Your Customers What They Need — Not What They Want

Posted on by Carol Roth

Stocksy_txp0272139ak36000_Small_169040The Rolling Stones said it best, “You can't always get what you want.  But if you try…you might find you get what you need.”  Regardless of what kind of business you own, you may find yourself in the unwelcome disconnect between providing what your customer needs to be successful versus what they think that they want.  So, how do you guide them toward the right path without losing the sale?

Outright Refusal is Not an Option

Even though you may want to do it (and sometimes, I really want to do it), the quickest way to walk away without the sale is to flatly tell prospective customers that their visions are two levels short of insanity and then, proceed to explain what they really need.  Even if you’re a rocket scientist in your field, you need to recognize and respect that they not only believe that they know what they need, they also have some important information about their objectives.  Their vision on how to accomplish their goals may take them in the wrong direction, but there may be significant value in what they have to say.  Your job is to guide them in the right direction without rolling over their dreams (or at least doing so without their clear knowledge).

Unless you decide that you do not want the customer, your first response should affirm that you understand their objectives.  Then, tell them how you can meet or exceed expectations while saving time, money or effort, even if it’s with a different product, service or strategy.

Identify Specific Issues

Once you understand the customer’s desired outcome, you can begin pointing out the issues that may prevent clients from meeting their goals.  In many cases, they may be asking for more than they need.  For example, if they want three manuals for a new software system, you can explain how a single well-designed manual can meet or exceed the requirements at a fraction of the cost.  How many people do you know who will insist on paying too much for a project?

There will also be times when customer visions simply will not meet their expressed goals.  In other cases, the entire goal may be unrealistic or even severely misdirected.  A customer who comes to your candy store in August asking you to ship a gift of chocolate-covered cherries to a close friend in Arizona might better maintain that friendship if you suggest a less perishable confection.  But logic alone might not be enough to sway that customer.  If you can tell a story about how people react when they open the box, smell the heavenly aroma and then, realize that the melted chocolaty mess is not safe to eat, you can really drive the point home.

When Offering Alternatives, Focus on the Benefits

As early as the beginning of the 20th century, “The customer is always right” has been the motto that great businesses live by, but that doesn’t mean that you should take it literally.  Customers need to feel that you respect their goals and visions.  But a great way to open their minds to change is to focus on what’s in it for them.  In other words, when you propose changes, lead with the benefits. 

You can’t always convince customers to buy your goods or services just because you know best.  Customers want to hear, “You can double sales and long-term brand loyalty with just a ten percent increase in the quality of the base materials that you use to build your product.”  When you present the advantages up-front, they will listen more closely to solutions that they may have never considered.  With the right incentive, they may choose to pay slightly more to improve their product quality, rather than just modernize the packaging, as they originally requested.

By Remaining True to Your Principles, You Instill Customer Confidence and Boost the Success of Your Business

Here’s a story that illustrates how sticking with your convictions can make a major difference to your customers — and to your own business.  Five years ago, a new customer came to a full service print shop seeking a new supply of the black and white leaflets that he periodically distributed in neighborhoods to sell his lawn services.  The printer advised that people are less likely to toss well-designed color brochures, which convey a more professional image.  The customer recognized the value of this advice and even used the printer’s in-house designer to upgrade the look of his advertising.  He spent more on his new brochures, but that increase was more than offset by the significant increase of new business those brochures generated over the response rate generated by his leaflets during the same period in the prior year. From that point on, he became a loyal customer, turning to the printer for all of his marketing material needs.  And to this day, he continues to send many new customers to the printer. 

Your customers may need convincing, but they rely on your knowledge and experience to get the greatest value from your goods and services, even if you sell them something vastly different from what they initially wanted.  The printer addressed his customer’s wants by focusing on what he really needed.  When you take this approach with your customers, you will not have to rely on a hard sell approach to develop a loyal customer base.




 
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