Reasons for Entry Level Jobs in Sales

1. Universal Skillset

Regardless of where you wind up, selling is universal. Even think about the interview process. Where else can you get a job that pays you to prepare for your next job? Even if that is in a completely different industry. Sales is essentially the art of targeted communication – clear and concise, etc.

These are skills that you can take to any event at any level. Communication is quite literally the most universal skill. And command over communication is one of the most universally priceable skills. While salesmanship is largely rooted in a deep understanding of the product, the product of the sale is rarely the product. The product of the sale is the subject of the sale. The human you are selling to.

If sales are the communication then the words are the topic and the person is the page, read and rewritten. Selling is a skill set that can have any of your future efforts or endeavors sublimated upon it and it will continue to serve you. Like marketing it is a set of skills that function regardless of medium. That makes it a great place to start.

2. Low Barrier of Entry

Sales are often seen as fast-moving, high-stress positions. While there are elements of this that are true, it would be more apt to deem that sales are a metric-driven position that come into focus based on their achievement. This means that it comes down to one simple thing: can you do the job?

If you can, you’re in. Forget the degree. Forget the experience. This gives people who took a path that offered them little money or are not fortunate to have come from the abundant opportunity to work and create abundance for themselves.

It should be noted, however, that this makes the application process far more rigorous as many applicants apply for these roles. Starting in a lower-tier cold-calling position can open this up. Additionally, the interview process is additionally very rigorous and serves as a very, very critical point. Meaning that it can make or break the applicant’s good or bad application.

3. High Ceiling

Sales offer one thing that a lot of jobs do not: a near-limitless ceiling. Sales positions are skill sets like any other, however, in a more juvenile metaphor they are a technique of coloring, not a particular medium of coloring. This means you can throw off the skin of an insurance salesman, and move to software, and eventually, high-grade medical equipment. Sales positions offer ample height in their cash ceiling. And offer work in multiple industries across the marketplace.

Sales also serve as the bedfellow of business operations. That means that if you ever wanted to truly remove your ceiling altogether you can take those skills there. And if you do in fact prove more apt at selling than you are at management or business strategy there is always a slot for you to return to… and likely beat out a sales rep hopeful that did not jump into the field earlier.

4. Teaching Motivation and Self-Starting

Sales teams are ultimately their own island. To keep the poor metaphors rolling. Sales would have you as an island in an archipelago. An island, – but not really. What sales positions do relay to the individual is a staunch appreciation for driving their own schedule and meeting their own metrics.

This confers responsibility and internal motivation. Additionally, learning skills of how to take rejection in stride and keep rolling along. These are elements of individual character that like sales training, can be carried through life. Incidentally making the approach to proper sales an approach to best living a healthy life.

5. No Loss From Experience

Sales skills are universal. There is a low barrier to entry. They can be taken to any industry. The skills can help you with elements of selling yourself in life. They have an insanely high monetary ceiling. They can impart deep life lessons. Many companies are hiring for these positions right now – even in the worst of economic times.

There is not any recognizable loss from the experience of entry level sales jobs- save if you were to spend that time learning one of the other three metrics of economics – either advertisement or production. Both are diametric to sales, with even advertisements sharing much crossover. Regardless, sales stand as one of the three pillars that drive any economy and are necessary for any individual looking to make themselves a fully realized person and an unadulterated master of business.

The post Five Reasons Your First, Entry Level Job Should Be in Sales appeared first on SmallBizTechnology.

Staying Motivated

This could go for any top performer in any field. It’s an underpinning of success and necessary for any objective completion. Action completes tasks and motivation is the ability to rev up the engine.

Motivation on a goal-oriented mindset allows for the top salesperson to focus-in on the task’s achievement and level up their game accordingly. Served as “the desire to act in service of a goal,” being motivated translates into often relentless action (given the degree of motivation) towards the ascertainment of a given outcome. Being able to stay in this state is what allows for greater completion and thus more tasks being completed over time.

Being Goal-Oriented

If motivation is the hypothetical ability to drive forward, being goal oriented would seat itself as the destination to where you are heading. Motivation is the drive, but that in and of itself will not complete the puzzle. The capability to move does not mean productivity.

The top salespeople set lofty metrics, often both in terms of results and of expectations. Think I will make thirty calls in the next hour, or I will close three deals this week. Regardless of the particular metric in which they work the top sales individual focuses in on mapping a high objective and then working relentlessly toward it.

It is often better to fail at greatness than achieve at middling mediocrity.

Stay Focused

Top sales performers need to hone in on their objective, then be willing to work toward it. If both of these are achievable then the premiere salesperson will need to stay on track until the objective is met.

Focus is the ability to tailor your course to your goal and then shrug off distraction and detraction until the objective is achieved. It can help to take time to break down the bigger goals into readily available and achievable milestones. The point is to find whatever beats you as a salesperson require to stay involved.

Time Management

Another top habit of sales performers is time management, as everything you do in life will require time to complete. Everything. Making your bed, brushing your teeth, and reaching your goal. Feeling existential yet? Not to worry. While each task that is undertaken will require a specified amount of time this also means that the salesperson can allot the time needed to accomplish the task. Likewise, remaining time conscious allows the top salesperson to keep the objective in mind and be mentally available toward its completion.

Surround Yourself with Better Salespeople

Networking is huge. Via the top salesperson’s network, there are mentors, competitors, and potential clients that can all add benefit and status to the aspiring salesperson. Regardless of what the developing individual needs to up their sales acumen, it can be found in the network.

Sales mentors can offer advice. Competitors can push the salesman to dominate the market. Clients offer the saleswoman a chance at honing the craft and potentially closing the sale. Networking is huge for salesmen of all levels. Learning to properly network can be what even land you the deal in the first place.

Reading and Listening

The top salespeople are always concerned with how much information they know. Specifically, in what ways they know can help present them with the information or opportunity to lock in a deal. Listening and reading help the top salespeople know what to do, in potentially pivotal situations before they ever occur.

Many sales professionals have either spoken or written at length about their process, perspective, and nuances that have appeared to them over their tenure in sales. The shrewd sales-minded individual recognizes this and pulls from that pool of knowledge.

Remain Consistent

Often starting something off is deemed the hardest part. This typically holds true for sales. Yet, there is the discipline required to keep production high even after sales numbers begin to take off. The top salespeople are able to maintain a high level of action, motivation, and performance throughout their careers through focus and dedication. Keeping an eye on the level of production is a tip many salespeople advise. This is especially imperative as the sales novice starts down the road to becoming a veteran.

Knowing the Product

One of the top habits of sales performers is also the best advice. What the salesperson is selling can vary greatly, and while there are many philosophical outtakes to help a general sell-all mentality there is no makeup for knowing the thing that is being sold. The top salespeople on any given product need to have a thorough enough grasp on the thing and system in which they are selling to answer whatever questions a potential buyer may address.

Understanding the common thoughts, typical questions, and their frequency as well as the common woes of the individual on the opposite end of the sale allows for great closing rates among the top sales professionals. This also can offer insight into what areas of the product they should understand most thoroughly.

Persistence

In essence, persistence combines motivation, focus, consistency, and passion. There is no remedy for persistence. Passion is persistence’s best bedfellow. Passion and persistence make sales.

Persistence will often close whatever deal the top salesperson is facing largely off the point that no is not an operable answer until it is the only answer. Not conceding until necessary is an often unbecoming aspect of the typical salesman, but absolutely critical to a goal-oriented, top sales focus.

Mentality

Finally, the last top habit of sales performers is perspective. The lens through which you see the circumstances inform how you may address the world. By tailoring sales to produce agency, the top salesperson can put him or herself in a place where they are ready to look on to the next sale. Whether previously met with triumph or defeat, a strong mind creates the top salesperson’s most versatile weapon.

The post 10 Habits of Top Sales Performers appeared first on SmallBizTechnology.

Breaking down the fundamentals of sales we can see where low energy and motivation can adversely affect parts of the sales process and construct significant countermeasures.

Motivation

Motivation itself may be at the core of the issue. There are numerous schools of thought on this. Motivation is the core of pushing the sale. Motivation does not exist. It is just a label for our behaviors. Regardless, the concept of motivation is one of action toward a goal. But, motivating a sales team can be difficult.

This is something low morale can adversely affect to a staggering extent. Here are several ways how to motivate a sales team.

Create Deeper Value

Whether it is from a higher purpose, a sense of community within their team, or even a vision for a better position and brighter future, motivation to action comes from a deep place. By finding value agents and servicing them toward the team’s individual needs you can harness a much more powerful response.

It is unlikely that many of the people on the sales team aspired to be in this place as children and even less likely to aspire to remain here into their final days. Truly motivating a sales team stems from a deeper sense of purpose and calling. Think about what the team needs. What are the team’s individual callings?

Make People Feel Good

Make people feel wanted, valued, and respected. Heck, make people feel special. It does not matter so much what the nuance of the term is so long as you can tailor what you do to make each individual feel good. That feeling of reward from doing a job well is all that many individuals need to propel themselves forward.

It could be as simple as allowing performing salespeople to have greater involvement in decision-making. They are important and their opinion matters. It may take the form of a flexible work schedule. They are important and their time matters. Compensate them fairly and offer them growth opportunities and autonomy in their providential future. They are important and the work they are doing matters.

Create the Right Environment

This involves building the right sales team. However, once you have collected that sales team with all the proper moving parts and people you need to begin fostering your environment. This will in part be a piece of company culture. That means the demeanor will be tilted in the direction of whatever job you are aiming to accomplish. One could presume that a professional football team will have a different mentality than a bakery. Maybe not, I don’t know.

Regardless then it is your job to take that group and define where you need to be within the space of that industry. This depends largely on the skills and demeanor of the people you have hired. Cultivate the environment that works best for them.

Concise, Clear, Consistent/Confident/Complete

It seems there are believably endless amounts of “3 C’s of ______.” Well here is another. Technically three others, because ironically “experts” are unclear on what the final C actually is. No matter, I can break down all five of them and how a lack of motivation can impact each along the sales line.

Concise, Clear, Consistent, Confident, and Complete. These are the three (five) C’s of communication. They exist to streamline conversation and messaging so that they can be held in high regard throughout the duration of the sales opportunity. Sales mean communication.

Concise

This is keeping the conversation inbounds. It does not necessarily mean that the conversation itself needs to stay “on point.” However, it does mean that only things that help the conversation need to be said. Concise, means letting the prospect speak. Then using your mind to return their problem to the solution that what you are selling can solve.

A lack of motivation in this area could result in the salespeople not listening and understanding the prospective client or failing to keep their pitches highly efficient.

Clear

Clarity is the baseline of understanding. If the client cannot understand you then you will have difficulty selling to them. You must be understood as a salesperson. Being concise will help with this. Conciseness should keep it simple. Simplicity acts as a favor to clarity. Clarity is paramount to being understood by another. It could be favorably argued that sales and communication as a whole are most fully reliant on this one, singular aspect. You must be understood.

The lack of motivation could affect this by instilling apathy in the salesperson to be understood. If the salesperson is not understood and does not aspire to be understood, the result will likely be flubbed sales. Even with potential eager clients sales will fall short.

Consistent

Get the idea across. Increase familiarity and conversational rhythm with having intermittent “touchstones.” Fair enough? Being consistent establishes confidence within the prospect which is what this driving part of sales is all about. Confidence and reliance within the client’s eyes.

Again, no motivation here will take form in the conversation going off the track. The salesperson will likely not keep it to a point. From there the lack of flow will likely stunt the sale for anyone unsure of their desire to purchase the product or service.

Confident

This element serves the same function as “consistency.” It serves to create confidence in the potential customer. While you are trying to sell the customer on the product. The savvy salesperson is trying to sell the individual on their own confidence throughout the conversation. High-end selling is the transfer of emotion from the salesperson to the client.

Belief in oneself commonly lacks with loss of motivation and in regard to confidence. The lack of motivation here is one of the most apparent as this is one of the exposing elements of the idea of “selling” someone on something. That energy and verve is once again paramount and a lack of motivation heavily affects that.

Completeness

Pull it all together. Completeness is the “trial-ready” version of your pitch and style. Likewise, this involves taking the other person’s perspective and fear’s into account. From there it asks how to tailor your messaging to best work off of that. Completeness additionally asks that you make no assumptions within that and are understanding and open to the parts of the conversation that may change the course of the plan. From there be able to review and fully break down the natural elements at play during the process.

No motivation here will likely take the form of disorganization and scattered thinking. Like “confidence” there will be the feeling of a missing element. Which is why these two are so often exchanged. They provide the unspoken backing of the other areas of good communication.

The post Low Morale? How to Motivate Your Sales Team appeared first on SmallBizTechnology.

How Abandoned Carts Undermine Potential Revenue

Abandoned carts are precisely what they sound like.

They’re the digital equivalent of filling your cart with items at a store, changing your mind about buying your cart’s contents, and walking out without making a purchase.

It’s worth pointing out that, in this case, it’s even worse. It’s much easier to add items to a digital cart, close out a window, and never look back.

It should come as no surprise that abandoned carts are a common issue for online retailers. This is easiest to explain via a retailer’s “abandonment rate.”

Customer Cart Abandonment Rate in Simple Terms

Your abandonment rate reflects the number of carts visitors generate on your site. The abandonment rate compares that to the number of purchases they complete.

For instance, consider if 100 people visit your Etsy site on a given day and create a shopping cart. If 36 of those people complete their purchases, your abandonment rate is 100 – 36 = 64%.

That number may sound high, but Baymard Institute begs to differ. The research organization reports that the average documented abandonment rate for online shopping carts as of August 2022 was 69.99%.

Steering Clear of Making Hasty Assumptions

The good news is that this number doesn’t represent potential customers who have definitively decided not to patronize your brand. On the contrary, there are many reasons for people to abandon carts while online shopping.

Statista lists things like slow delivery, excessive extra costs (like shipping), and the need to create an account as the primary reasons people didn’t cash out in 2022. It isn’t until the fourth reason on the list (just 18% didn’t trust a site with their credit card information) that the issue becomes more connected to specific failures on the part of the retailer.

In other words, in most cases an abandoned cart isn’t a burned bridge. It’s simply a failure to complete a purchase. This naturally implies that, if handled correctly, following up on abandoned carts can be a legitimate (and profitable) source of revenue for an e-commerce company. The question is, how?

Reclaiming Cart Abandonment Income

With so many abandoned carts out there, it’s important to consider multiple ways to reclaim that unrealized cash. Here are some different strategies to consider heading into 2023.

Send abandoned cart emails.

This is one of the most tried and true ways to follow up on an abandoned cart. If a potential customer gives you enough information (including an email address), you can send them an email reminding them about an abandoned cart.

When a shopper is a repeat buyer or an older customer with an account or purchase history with your brand, you can even personalize the message.

Retention.com points out that there are also ways to engage with anonymous cart abandoners. On-site software can collect first-party cookies, allowing you to reach out to unknown website visitors who filled a cart and left it behind.

Fire off a text message.

E-commerce website giant Shopify reports that nearly a third of all U.S. internet users used mobile devices to purchase something every week in 2021. The significant number of mobile shoppers makes text messages a solid alternative to an abandoned cart email.

When a mobile shopper leaves items in their cart in your app or mobile site, sending an SMS notification can be a perfect way to draw them back in. These are quick, subtle messages — and they aren’t seen as spam, either.

Try exit popups.

Abandoned carts are a time-sensitive issue. If someone leaves your site, there’s a good chance that they’re still shopping and want to find a better deal or an easier checkout process. This sense of urgency means the sooner you connect with a customer after they leave a cart, the better.

Exit intent popups allow you to do exactly that — before they even leave your site. These popups trigger when a user is about to leave a website. Hubspot explains that these should include offers or information that can draw potential customers back to their carts, such as a discount or free shipping.

Reclaiming Abandoned Cart Revenue in 2023

Customer cart abandonment revenue should never be an afterthought. It’s a significant source of potential revenue growth for most businesses.

Remember, a consumer who has gone as far as putting an item in a cart is close to being sold. They are much closer to the point of purchase than a new lead. They are far closer even than someone at the beginning of the customer journey.

Make sure to keep this dormant income in mind. Leverage it as you create and adjust your e-commerce strategies for the year ahead.

The post How to Reclaim Revenue by Reducing Customer Cart Abandonment appeared first on SmallBizTechnology.

But not all small businesses can afford to hire these specialists.

The good news is, that you can easily increase the conversion rates of your campaigns without spending any extra money on specialists.

The facts are, that there are many factors that make a potential customer take an action. If you tweak any of these factors, chances are, you’ll increase conversion rates.

What does ‘increase conversion rate’ mean?

In internet marketing, increasing conversion rates involves optimizing a page for higher response. If you run Facebook Ads, you want more clicks. Entrepreneurs using landing pages want more sales. You may want more subscribers to your email list, more clicks for your emails, or maybe even more sales for your Shopify store.

If you have low conversion rates, you have erratic sales and if you have erratic sales, you have no business. For startups, increasing conversion rates should be the main business.

Web traffic is a vanity metric, while conversion rates are a true metric directly tied to sales. Unless you’re a mainstream publication relying on sponsored ads for revenue, your focus should be on getting conversions.

How do you boost conversions on low-traffic websites?

The best way to increase conversion rates on new sites is to write a sales page around specific long-tail transactional keywords.

I consult with small tech businesses a lot because my goal is to apply the skills I’ve learned, from leading marketing agencies to small startups.

Most small businesses have good products. Some run ads and get significant traffic, but no sales. They often think they need more traffic so they can get more paid customers.

Not so. The truth is if you can’t get one out of 100 people to take an action, you can’t get 10 out of 1,000 people to take action.

For this reason, most startups misfire their marketing efforts. They get little to no results, end up discouraged and finally give up.

But with good conversion rates, even a low-traffic website is a goldmine.

As a freelancer, I can honestly say that 8 people out of 100 people who visited my site downloaded my free eBook.

Eight is a low number for a free eBook download. But in comparison with other B2B sites that get 0.01% conversion rates, I’m 800 times ahead. It may not bring a direct income since the eBook is free, but the conversion rate acts as a vote of confidence to scale my marketing efforts with a larger budget.

Because small businesses often rely on social media, you have to increase conversion rates at all stages of your funnel.

• If you increase conversion rates on your Ads by 1.4X (40% more), and on your landing page by 1.10X (10% more) — that’s a 1.51X increase in conversion rate and sales.

Checklist: Increase your conversion rate by 1.4X on Google Ads.

Whether you run ads on Google, Instagram, or YouTube, chances are, your ad will be ignored. Why? Well, customers are actually looking for information and people, not ads.

So the best use of search engines such as Google is to make your ad mimic an informational piece, a.k.a. an advertorial. For YouTube, use infomercials and influencer partnerships. This is known as social search. For Facebook, use infomercials and viral-type ads. And if you’re advertising in an official-like trade publication, use a corporate style.

The secret is to blend with the platform so you get their attention. You are there to seek attention, you should not be ignored.

The small business product for this demo is CRM software.

• Did I use an advertorial style…instead of typical ads?
• Does my headline appeal to self-interest rather than general appeals?
  • Can you be a better email marketer rather than the best CRM software for email marketers?
• Do I add some curiosity to my headline?
  • Lessons from Hilary Clinton: Use emails to make you a better email marketer.
  • Look to Quora headlines to get a sense of curiosity.
• For social ads, do my ads invite a conversation?
  • The goal is to engage. Filter top posts on Reddit or any platform…that’s how your advertorial should look.
• Do you push your ads organically?
  • If you have the best product, you will want to do everything to ensure it reaches everyone.
• Is your product unique?
  • This “wow factor” causes products to trend (and even go viral).
• Did you add some urgency?
  • Why should people click now? Limited availability, limited editions?

Checklist: Designing websites that convert.

So which methods can you use to increase conversion rates on low-traffic and new sites?

• Messaging: Does my landing page stick to the principle of copy focus…or are ideas all over the place?
• Do my hero area and headline solve an urgent problem, call out a target customer, and continue the conversation from the advertorial?
• Does my product/service have credibility and proof elements, education, statistics, examples, case studies, track record, and demonstrations to back up my claims?
• Do I make a big, believable, unique promise?
  • This is the only way to move a saturated market.
• Do I have a clear call to action, and an irresistible offer someone would be dumb to ignore? A.K.A. “value.”

You’d be surprised at how many websites fail at each of these.

eCommerce: How to Increase Your Conversion Rates

Unlike B2B businesses, eCommerce drop shippers could be D2C and B2C businesses. As a result, their product pages require less copy and should be more graphic-rich. The aim of every graphic is to increase sales.

• Do I use direct response design tips?
• Do my images show the fulfillment of the promise rather than a problem, i.e. show glowing radiant skin rather than acne skin?
• UX: Is my website loading fast, with 99% uptime, with 1-3 clicks to checkout?
• Do I practice up-selling — recommending higher-priced packages, down-selling for abandoned carts, and cross-selling — recommending similar packages?
• Does my ordering system use notifications?
• Do I use countdown timers and scarcity plugins?
• Do I use customization? Am I calling visitors by name, location, using gamification techniques?

Unlike SEO, conversion rate optimization doesn’t change. These timeless principles remain evergreen.

People buy because they have a problem. All you have to do is to present a solution, like a caring friend, with utmost trust and clarity.

The post Looking to Increase Conversion Rate 1.51X? Use a Credibility Checklist. appeared first on SmallBizTechnology.

The advancement of technology is changing how we interact with the world. There isn’t a single business globally that hasn’t been impacted by artificial intelligence in some way or another (AI). From virtual reality (VR) gaming systems to artificial intelligence (AI) robots in industrial production, technology is advancing exponentially. And that’s not even close to Q Commerce.

However, since learning technologies and algorithms are already transforming the industry, eCommerce is especially susceptible to artificial intelligence (AI) disruption. It could alter the way we buy and sell items on the internet.

Artificial intelligence (AI) can not only do jobs that humans previously performed manually, but it can also optimize the customer experience and give businesses the information they require to make intelligent business decisions.

Here are four ways in which artificial intelligence is revolutionizing the world of e-business.

1. Artificial Intelligence Copywriting

The emergence of automatic copywriting is transforming how brands generate their sales copy and marketing materials.

Writing technologies that use artificial intelligence may generate marketing text in seconds. Instead of engaging copywriters or advertising firms to write headlines, blog introductions, or product descriptions, brands may now use artificial intelligence algorithms to accomplish the task.

These systems, which use advanced artificial intelligence language models, can provide digital ad text, social media material, and other eCommerce copy.

The majority of automated copywriting still requires manual editing. But it is well on its way to becoming a standard feature of eCommerce.

2. Chatbots and virtual assistants are two examples of artificial intelligence.

Shoppers who choose to do their shopping in a physical store benefit from the presence of clerks. An employee or assistant can aid them in navigating the store and locating what they’re looking for.

While eCommerce has always had customer care employees available to provide phone support, it wasn’t until recently that artificial intelligence (AI) could fill in the gaps and give customers more instant assistance. As eCommerce merchants strive to provide 24/7 help to all of their online consumers, chatbots and other virtual service usage is becoming more commonplace.

However, the use of natural language processing (NLP) allows these chatbots to understand and comprehend voice-based interactions with online shoppers, allowing them to provide customized offers. As a result of being programmed with self-learning skills, they are constantly increasing their ability to respond to and satisfy the wants of their customers.

3. Personalization is the next stage.

Therefore, through accurate product suggestions and advertising, AI also gives clients a more personalized experience.

Artificial intelligence algorithms will sift through massive datasets to extract meaningful insights into customer behavior. These insights will allow them to predict better what a client needs when the customer needs it. Their recommendation engine can use the information from your buying history to propose products that are similar to what you’re looking for. These days, you can even use AI scheduling tools to map out your whole day!

To give you an example, if you recently looked for sponges on Amazon, the AI algorithms will propose additional cleaning goods that are similar to sponges on your page.

However, people can also apply this artificial intelligence technology across various platforms, including websites, email, and even mobile applications. AI can assist you in providing a more delightful and simplified experience to your clients. AI can tailor to an audience and increase your productivity.

Personalization is essential for a positive customer journey. So the algorithms of AI are present in a great deal of eCommerce advertising.

4. Inventory control is critical.

For example, inventory management is the second area of eCommerce where artificial intelligence’s predictive analytics is transforming the landscape.

Maintaining current inventory, storing it appropriately, and placing orders well in advance is critical, mainly when predicting client demand.

Storage facilities do not have the capacity or the resources to maintain everything in stock at all times. This is why it is critical to prioritize the things you require and order them in the order in which you need them. Therefore, artificial intelligence uses predictive analysis to generate educated guesses about what the future needs in the market will be like.

With the help of machine learning, artificial intelligence technology is becoming increasingly accurate at anticipating what inventory you will need to order. And how much of it you should keep on hand at any given time. These systems can anticipate rapid changes in demand.

Do preventive maintenance on your technology. Automate key packing activities to boost productivity.

In conclusion, artificial intelligence is becoming increasingly popular among eCommerce companies to improve their analytical insights. It provides a more tailored consumer experience, and raises their competitiveness. As the market for artificial intelligence in eCommerce continues to grow, they can leave you behind.

The post Artificial Intelligence Is Transforming eCommerce appeared first on SmallBizTechnology.

Still, you should consider carefully before making accounts on several platforms just because you can.

1. Pro: You gain a channel of communication with your customers and leads.

Social media is the easiest way to connect with would-be customers these days. Nearly every customer who has worked with or purchased from you in the past likely has a social media account.

You can reach out to them to tell their friends about your new presence on social media. Also, you should have messages open so people can contact you with offers of collaboration or questions about your products and services. Open yourself up to conversation from people.

Publicly thanking consumers for their praise and admitting shortcomings in response to criticism can be an excellent way to showcase your strengths. It shows that your business listens to and cares about what consumers think of the brand. As 47% of customers find brands more favorable when they answer questions and respond to complaints via social media, you’ll simultaneously be positioning your brand in a more favorable light.

2. Con: You might rely on ads.

Of course, to find those aforementioned would-be customers, you have to grab their eyes on social media.

Word of mouth might be the most popular and effective advertising tool. However, if you can’t reach new groups of people through it, you’ll have to branch out.

Ads on social media often aren’t expensive, and they can draw plenty of people to you via demographic targeting. You may find ads worth the investment. But, if leads start to see your ads too much, it could backfire on your business quickly.

3. Pro: Your page can unite like-minded people.

By running a social media account for your business, you can draw your customers together in one place.

They all have something in common: a love for your business! People may be able to identify a support system full of people who understand their stage of life by simply interacting with them in the comments.

You can bring together new friends and create a community that adores your business and everything you offer.

4. Con: Social media is time-consuming.

There’s a reason why being a social media manager is its own job.

First of all, you have to choose someone who knows how to curate certain content for any kind of audience. You also have to have someone make graphics and content for your page.

You also have to have that person on standby to reply to any questions in the comment sections or direct messages. They should also research the latest trends or changes in the app and algorithms. You should start with one social media platform instead of all of them.

5. Pro: You can answer frequently asked questions.

Having information on your social media accounts can help you answer the hot questions your leads ask without taking it to direct messages right away.

Restaurants and food services can include their menus on their social media pages, thereby answering any questions on what they offer and the exact price a customer should expect to pay.

You can explain more about your business by linking your website to your social media. Highlights on Instagram can be great for FAQs, as you can save a permanent question sticker that allows people to go back and ask questions whenever they feel like it — and you can post the answers to your story when applicable and save them to the FAQ highlight.

Similarly, you can put more information about your company in a lengthy about section on Facebook, which also supports direct menu uploading for any business that provides food or beauty services.

6. Con: Social media requires extensive monitoring.

You shouldn’t allow a conversation in your comments to spiral out of control.

When someone has a legitimate criticism, it’s common for brands to reply to let them know their voice has been heard and thank them for the new perspective they brought.

You’ll also want to monitor the comment section for any arguments that break out. You don’t want to give off the impression that your business tolerates hate speech or other inflammatory and offensive things.

You should have a community moderator keeping an eye on your comment sections — or limit them so that only people who follow your account can make comments.

What’s the verdict?

As a business owner, whether your company chooses to use social media should be your decision alone.

If you decide to create accounts on social media, try to focus on the platforms that give you the most return on your investment rather than spreading yourself thin across multiple platforms.

When choosing the person who will run your social media accounts, make sure to pick someone who knows what they’re doing and understands the algorithms. The more you invest in your social media game, the more payoff you’re likely to see.

The post 6 Advantages and Disadvantages of Social Media in Business appeared first on SmallBizTechnology.

These technologies are more important in 2022 than ever before, especially as the eCommerce industry continues to grow. Most eCommerce businesses need the right tools and technologies to achieve their goals.

So…what should you be investing in?

Take a look at some of the new technologies entering the eCommerce space. Make a decision for yourself that is worthy of investment based on how you operate your business.

1. Artificial Intelligence

Artificial intelligence (AI) is an interesting type of technology when it comes to its place in the eCommerce world.

Once thought of as a solution for high tech, it’s now more readily available than ever. It allows many organizations to adopt it as a way of minimizing costs and enhancing operations.

AI may help to fill in the one gap that consumers have when it comes to making a decision about purchasing online. It creates the opportunity for virtual assistants to work and connect with consumers in a realistic experience.

That can help with improving personalization and customer service. It increases the connection between the company selling the product and the consumer buying it, filling an all-important gap.

2. All-Inclusive Fulfillment Systems

It’s a fact of eCommerce. The faster you can fulfill orders, the more orders you can take. And that means more revenue streaming into your company’s account.

Yet it can be challenging to keep up with all the warehousing, picking, packing, and shipping needs of a growing business. It can also become expensive, bringing down the profits you make on each item you sell.

Newer fulfillment systems that leverage the latest software advancements have been a huge boon. This is especially the case with startups operating on limited capital.

These systems are typically offered on an outsourced basis, as in the case of third-party logistics (3PL) providers. These providers can have technology that can help with warehouse management, order management, and product information management. They can pull it all together in one spot making an eCommerce retailer’s life much easier.

As a complete eCommerce solution, Tradefull points out that automation through those types of tech is making warehousing more efficient. As a result, this is helping retailers get products to customers faster and faster.

3. Hyper-Personalized Experiences

Hyper-personalized experiences piggyback on the use of AI in eCommerce environments.

AI can help to gather information about shoppers during their visits. That data proves valuable because it can then be used to create personalized experiences for customers.

Consumers desire a personalized experience that speaks directly to them and values their time. Likewise, a tailored experience like this also allows companies to present consumers with more of the products they are likely to want, improving sales.

The adoption of hyper-personalized experiences through the use of AI can empower eCommerce brands beyond the competition. As a result, it creates an opportunity for a one-of-a-kind experience that consumers desire.

4. Voice Assistants

There’s no doubt that checking the weather or playing music using a voice assistant like Google or Alexa is the easy way to go.

Voice assistants like this can also directly contribute to the needs of eCommerce businesses. Consumers want to rely on their devices to help them make purchases, especially when buying online.

In an eCommerce environment, consumers want to ask their voice assistant of choice to help them find what they need. That may allow companies to set up tools that also allow repeat purchases.

All the consumer has to do is to ask their voice assistant to purchase a specific product from the store of their choice. Many of these assistants remember past purchases. Additionally, they may even help with marketing products by sending reminders to consumers to buy again.

5. Chatbots

One of the concerns for many organizations in managing their eCommerce operation is being accessible to customers 24 hours a day.

It’s simply impossible to do this without the use of technology. New technology, such as AI chatbots, is working to provide a solution.

These more advanced chatbots allow consumers to type their messages directly to the company. The chatbots respond with reasonable questions and can retrieve customer information, product shipping data, and even product information, answering most of the consumers’ questions.

The benefit here is in improving customer service. Consumers get the information they need whenever they need it, even in the middle of the night. That leads to increased sales.

At the same time, eCommerce companies don’t need to pay the high cost of using people to answer those questions. This type of technology has improved significantly so that it creates a more personalized, realistic experience for the consumer while gathering data and supporting the needs of the company.

6. Augmented Reality

Unlike at a brick-and-mortar store, consumers have no way to look at a product from different angles, handle it, try it on, or otherwise explore it.

Augmented reality (AR) opens the door for this opportunity. While it has a long way to go in terms of texture and truly experiencing what a product is like, consumers can use AR to visualize products more realistically before they make a purchase. They can try on clothing virtually. They may be able to place furniture in their living room to see just how well it would fit.

AR is rapidly changing and morphing into a valuable tool for many eCommerce businesses. It’s also a fantastic tool to embed into social media to help build brand recognition and help encourage sales.

Technology Continues to Improve eCommerce Success

Business owners looking for ways to grow and build their operations may need to pay close attention to new technology like these.

Not only can technology help to create new opportunities for sales and better customer service, but it may also provide opportunities to streamline costs, improve operations, and improve efficiencies throughout the company.

In the growing eCommerce industry, it’s essential to have every possible tool available to ensure the best possible return on every sale made.

The post 6 Types of New Technologies in eCommerce appeared first on SmallBizTechnology.

A worldwide recession is on its way. Perhaps not today. Perhaps not tomorrow. But it won’t be long now. Do you hear the consistent economic drumbeat? Don’t ignore it!

A recession is on its way, and although it is unlikely to endure the rest of your life, it is unavoidable. That’s a fact.

Even if there are warning indicators to watch for — increased interest rates, deflation, stock market collapses, loss of trust in the economy, and so on — there is no magic formula to forecast when and how long it will occur. And no, you can’t count on cryptocurrency to save you.

For example, increasing interest rates and weak first-quarter growth have led some to predict that the next recession would occur sooner than later. Perhaps it will happen. But, then again, who could have forecast the economic impact that the coronavirus would cause at the start of 2020? Aren’t the best-laid plans no more than that…plans?

But, whether it occurs this year or in five years, it never hurts to be prepared.

According to a poll conducted a few years ago, 44 percent of small-business owners questioned had made no efforts to prepare for a prospective recession.

Recognizing that the unexpected might occur at any moment, it is more crucial than ever to be proactive in preparing your organization to weather the next recession. Here are three crucial areas to concentrate on.

1. Take care of your money.

Everything ultimately boils down to money. You can’t keep your business afloat if you don’t have it.

Create an emergency fund. Just as you (ideally) have money set aside for a rainy day, your company should have something for the unplanned and unexpected. Therefore, maintain at least three months’ cash reserves to cover everything from operational expenditures to staff payments. As a result, when the economy begins to collapse, quick and straightforward access to capital is critical.

Obtain capital. Please go into the coming recession knowing what you have access to, whether via investors, lines of credit, grants, or credit cards. This groundwork enables you to plan ahead of time rather than hurry to catch up.

Examine your spending patterns up close and personal. Is it possible to minimize expenses without losing quality? Do you have the ability to renegotiate contracts with vendors and suppliers? Determine the difference between strategic and non-strategic expenditure. Where can you cut expenditures carefully to increase the return on operational expenses?

Pay off your debts — sound advice, recession or not. If you have the means, pay off those high-interest loans or credit cards so you don’t have to make monthly payments.

2. Pursue new business markets.

When a company’s finances are tight, the first item that gets cut is its advertising budget. It’s challenging to invest time, energy, and money in something that doesn’t necessarily provide an instant return. However, even if the economy is a downturn, you must maintain your market competitiveness.

Consumers are spending less, and they are significantly more intelligent and demanding when they do buy. If you don’t get your name out there, you have less chance that your company will be the one people choose to support.

That is why you want astute, strategic marketing. Therefore, show them why your company is worthy of the award. Help them realize why your service or product is a good investment and how it may give some stability during a difficult period.

3. Increase existing customer loyalty.

Don’t forget about your existing consumers. When all else fails, a devoted client base may be the only thing that keeps the lights on and the doors open. However, it’s a wise business decision to seek out new customers, but it’s just as critical (if not more so) to maintain the ones you currently have.

Most people say that acquiring a new client costs more than retaining an existing one. If you’re continuously bringing in new customers but losing your regulars, you’re moving one stride ahead and two steps back. You don’t want to be performing that dance.

Provide outstanding client service. Therefore, concentrate on fostering loyalty. Don’t save your discounts and gifts only for new consumers.

Continue to examine and determine their requirements and how you might meet them. Remind them of the benefits of sticking with you versus your competitors.

Takeaway: Don’t wait for a recession to prepare for one.

Begin preparing to give yourself a little added protection to help you live through the inevitable. The unavoidable may not occur today. Perhaps not tomorrow. Perhaps…well, you get the point.

This is not investment, tax, or financial advice. For counsel on your specific circumstances, you should seek the opinion of a qualified expert.

The post Three Recession Risk-Mitigation Strategies appeared first on SmallBizTechnology.

Most small businesses typically have limited resources, including employees, time, and money. Therefore, small business owners must be resourceful. This is especially true when planning how to best use these resources to meet the needs of customers.

Use customer relationship management (CRM) data.

CRM data can be used in a variety of ways to improve customer service.

Because it contains a database of customer profiles, including contact information and birth dates, small businesses can send customers personalized birthday cards, thank you notes, or holiday cards. These digital greeting cards can also include an incentive, such as a promotional offer.

For example, if CRM data indicates that a customer frequently buys a certain product, employees can send the customer a coupon for the product along with a birthday greeting. Marketing strategies such as this one can improve customer service. They also increase customer retention, and build brand loyalty.

Respond quickly to customers’ concerns.

When a customer shares a concern about a product or service they have purchased, it’s time to act.

It is not only essential to address the customer’s concern. It is essential to do so as quickly as possible. That’s why high-profile service providers such as private doctors and lawyers are turning to human answering services. For instance, a human answering service for a law office instills trust in callers as well as keeps your staff immediately informed in case a client has an urgent issue that needs quick attention. 

Addressing a customer’s concerns with a lack of urgency makes the customer feel as if they are unimportant and unappreciated.

Provide opportunities for honest feedback — positive and negative.

Small businesses can collect feedback from customers through surveys, online forms, or social media reviews.

Some companies censor their reviews when possible by requesting that negative reviews be removed. However, small businesses can use honest feedback as an opportunity to improve customer service.

For instance, if a customer reports a negative experience in an online review, small business owners can address the feedback publicly and privately. When small business owners publicly address negative feedback, current and future customers can see whether the business owner responds professionally and whether they are willing to offer a solution.

As small business owners address negative reviews with customers privately, it gives them an opportunity to change the customer’s perspective and regain their trust. When small business owners respond to positive reviews, it shows current and potential customers that the company appreciates and cares about their customer base and their customer service.

Use feedback to improve.

In addition to addressing feedback from customers, small business owners can also use the feedback customers provide to improve their services.

For example, let’s say a small business owner is a grocer. They receive several reviews from clients stating that the organization of the store is confusing.

They could consider reorganizing the grocery store in a way that makes more sense to customers. Customers see that small business owners are not only taking their ideas into consideration but are also taking action. They are implementing changes based on feedback. As a result, they feel more invested in the company and its success.

Wrapping Up

There are several ways that small business owners can distinguish themselves from larger businesses.

Big businesses can make customers feel as if they are only a number. By taking the time to improve customer service, small business owners can create a brand that earns customers’ loyalty.

The post How Can Small Businesses Improve Customer Service? appeared first on SmallBizTechnology.

The first step has always been to grow and establish your brand as a household name when launching your business. Unfortunately, that doesn’t happen overnight. It’s safe to assume that we are all searching for new ways to improve our business and brands.

Mapping Out a Strategy That Works for You

There’s no particular strategy, plan, or secret that will help you get immediate success. (Sorry to burst your bubble!) However, if you apply these small business tips, you could eventually reach that success bracket and increase your brand awareness.

1. Be specific in your goals and objectives.

Start by breaking your big goals down into smaller ones.

For instance, you can have a 10-year plan, 3-year plan, and a one-year plan. When it comes to small businesses, having specific goals could mean that you have the right direction in your company.

Don’t start by focusing on your 20-year plan yet you haven’t completed your quarterly objectives. That only means you might not even finish the first year.

2. Build a network.

No business succeeds as a standalone.

Truth be told, being a business owner is an isolating experience, especially if you are a solo business owner. But don’t let that deter you from connecting with other businesses.

In fact, staying connected with the larger community could catapult your business to the next level.

3. Create your vision.

Every employee you hire, product you develop, and marketing campaign you unleash should spring from the vision in your business.

Create a deep sense of what this business is about, then make sure every decision you make aligns with the idea.

Typically, it’s tempting to say “yes” to every opportunity that comes your way, but if it’s not in line with your vision, you’ll lose valuable time, money, and effort.

4. Be patient.

One of the significant challenges any small business owner will face is impatience.

Focus on the foundation and a steady improvement to your systems. Then and only then will your business start to witness growth.

5. Hire the right people.

Your team will either build or break your business.

You will need a solid staff to help you achieve your goals, but that doesn’t mean any Tom, Dick, and Harry can work in your company. By hiring the absolute best people, you can ensure steady and fast growth in your business.

If there’s one thing you should take seriously in all these business tips, hire the right people.

6. Trust your team.

You’ve established that your team is the best you could hire. Now it’s time to understand that there’s no room for ego in management.

You’ve hired them to help you grow your business. So…let them! There’s nothing worse than a small business owner who doesn’t believe he could make a mistake.

Trust your team and their unique capabilities.

7. Minimize your risks.

Unfortunately, taking risks is part and parcel of business, especially if you want your business to grow.

More importantly, it’s virtually impossible to control everything. However, there’s a limit to how much risk your business can handle externally and internally.

An excellent way to manage your risks is to talk to an insurance company provider. Such companies could potentially help your business grow without taking all the risks.

8. Be adaptable.

These small business tips wouldn’t be complete without pointing out that your business should be adaptable.

Successful startups always have one thing in common. It’s the ability to switch directions almost instantaneously to respond to changes in the market.

By changing and adapting, you are able to compare different approaches and identify which one works best for your company.

9. Invest in marketing.

Marketing is the heart of every successful business. How else will your business grow?

As a small business, I’m sure your budget is fixed. But that shouldn’t stop you from marketing your company.

Take advantage of budget-friendly marketing strategies, such as social media marketing and SEO.

10. Find a mentor.

Last but not least, find a mentor.

In addition to networking, you will need someone within your reach who can help you navigate the ups and downs of starting a business. And who better else to do that with than a mentor!

Mentors often have more experience in specific areas, and they can share a lesson or two to help foster your business growth.

Wrapping Up

These small business tips will ensure you are always at your best.

Be passionate about everything in your business. It will show and will also reflect positively towards the success of your business.

The post 10 Small Business Tips to Help Owners Succeed appeared first on SmallBizTechnology.

These cashiers factors determine the shopper’s experience. Despite being low-paid or even entry-level employees, cashiers collect most of a grocery store’s payments. So, why is there an increasing tendency to automate, self-checkout, and cashier-less technologies?

Until recently, cashiers were essential in retail. But upcoming federal rate hikes are causing small business owners to lose sleep.

Cashiers are the front-line employees, ringing up customers and counting every payment. A precise till is your savior. Miss it too frequently, and you lose your job. So you’re counting money and being mindful of delivering exact change.

Every hour, you herd hundreds of people, establishing eye contact, smiling, and initiating small chats. To help them discover their gluten-free cauliflower crust pizzas, diners on special diets had to search in the cooler, not the freezer.

Nothing new here.

When an item doesn’t scan properly, or a consumer believes the sale price was X instead of Y, you call your supervisor to help resolve the issue.

It’s essential to be diplomatic when the grocery section is out of a customer’s favorite item or when out of stock is over 20% of a customer’s favorite things and to thank them for their patronage. When clients complain about rising pricing, you respond politely and effectively.

Every shift, a bagger packs clients’ things into shopping bags and loads them onto carts. 15, 20 times each hour, you have to move from scanning products and counting change to bagging yourself.

When your business installed automated self-checkout kiosks, they assigned a few staff to monitor their usage. Most clients still preferred cashier checkouts.

Cashiers are essential in retail. So why do stores try so hard to get rid of cashiers?

Cashierless technology is coming to tech-enabled retailers. Big and small. Executives and cheerleaders contend that it reduces wait times, congested kiosks, and possible Covid-19 exposures. Customers may pick up their items and go out without interacting with anybody.

But, like other digital advancements like click and collect, the technology will impact store operations. Cashier-less technology not only eliminates cashiers but also needs rigorous retail discipline, de-skilling, and store supervision.

The planogram from corporate HQ dictates where each product goes. Someone must front products often to ensure proper inventory and scanning. Everything on the shelf and out the door is monitored and quantified in real-time. Changing the merchandising to fit seasons, location, or changing consumer preferences is not an option for a clerk. This new retail ecosystem monitors shops, items, employees, and consumers. Is the merchant a panopticon for convenience?

Cashiers, a service business in itself, are threatened by automation.

Cashiers accounted for 3.3 million jobs in 2018, ranking third among all occupations. Jobs in retail sales or cashier are widespread in 46 states.

The supermarket business employs about 865,000 cashiers or 30% of the total employment. Retail employees are often younger, female, and disproportionately Black, Latino/Hispanic, and immigrant. Most cashiers have no college degrees and are roughly twice as likely to be on Medicaid.

Unlike their European counterparts, who have more vital unions and better working conditions, most American cashiers must stand all day at the register.

In 2019, the mean hourly salary for cashiers was $12.00, while the median annual income for full-time cashiers was $22,100. They are underpaid and underestimated since their job is to gather and account for every retail transaction. They make up for the lack of hourly pay by enormous numbers. A busy business will have 10 to 30 cashiers working at any one time.

Getting rid of cashiers is about streamlining retail labor; businesses won’t relocate those roles.

Reduced costs directly enhance the bottom line. Grocery stores budget 12-15 percent of sales for labor, whereas mass merchants and discounters spend less. Cashier teams account for 20-25 percent of work in certain stores.

This technology’s partial implementation would appeal to retailers hoping to save 2-3% on expenses, even if it changed operations and the customer experience.

Is it possible? Online ordering, delivery, and click and collect were unthinkable only a decade ago.

Females and people of color make up the majority of cashiers.

This technology’s broad adoption would remove hundreds of thousands of jobs.

In non-inflationary periods, stores without cashiers may offer somewhat reduced costs for customers. So business owners may spend earnings in expansion and market share increase. Scale is essential in the retail industry with limited Robinson-Patman Act monitoring.

The difference will presumably return to institutional shareholders and executives as buybacks, dividends, and bonuses. Whether or not holdouts embrace the technology, the sector as a whole will be under pressure to reduce labor costs.

However, working in retail during the epidemic has forced many supermarket employees to rethink their careers.

Hundreds of thousands of people have changed employment or left the supermarket sector in the last year. With low pay, inadequate benefits, and unpredictable schedules, retail employees lead the so-called Great Resignation.”

Many stores have boosted pay and benefits to attract and keep employees. Still, these increases are often significantly below what most large metro regions consider livable.

To put it another way, this is what the minimum wage would be if it had kept up with productivity growth since the 1960s. Retailers have utilized personnel shortages to invest in greater automation. Consequently, de-skilling technology. It may indicate that these jobs are gone for good.

But presuming labor should be replaced by AI in the interest of convenience and narrowly defined consumer sovereignty is a fair dose of misanthropy. Are living pay, good benefits, and safe and pleasant working conditions antiquated and unattainable? The technology historian David F. Noble seems to foresee the authoritarian nature of automation.

Thank your cashier for their hard work next time you shop. Maybe call the store management and thank the cashiers…before they’re gone.

The post Will Grocery Stores Ban Cashiers? appeared first on SmallBizTechnology.

Building catchy, distinctive business brands is critical for every company. Customers can better grasp who you are, what you do, and why you do it if you have a strong brand identity.

However, many entrepreneurs conflate their company’s brand with their personal brand. While combining them may work for a select few, it isn’t the best method for most people. And it can affect worker numbers as well.

Separating your brand from your company enhances your business while also allowing for individual liberty and professional progress. This advice is from experts with experience as a creative brand strategists and coaches for small companies and startups.

If you have a public persona of any kind, experts strongly advocate developing a distinct business brand. Likewise, sharing insights into personal life via a “personal, professional” brand platform.

This is why.

You’ll be able to expand your horizons outside your business.

Many entrepreneurs write a book, become public speakers, or start a new business initiative. Your professional brand is an ideal venue for sharing and promoting this work while keeping the company running smoothly.

You may improve your company’s brand by doing one thing. Separating your professional interests from the core goal of your firm boosts the brand of your organization by making it more focused and deliberate.

You’ll improve your brand’s development potential because you want the company brand to exist on its own, without you, even if you feel like you are your business at first.

Therefore, if you have ambitions of building a team or even being purchased, you want the business brand to stand on its own without you.

However, your professional success should not be contingent on the success of your company.

You are more than a business.

Employers, customers, and partners all want to have a better sense of who you are on a deeper level.

• What are the issues that you support?
• Do you belong to other professional organizations?
• What other creative pursuits or hobbies do you have that help you be who you are?

Convinced? Great. Here’s how to go about it.

Develop your professional identity.

Think of enlarging your professional brand as a Linkedin profile. It’s a professional internet persona that extends beyond your organization or corporation.

People sometimes mistake this with a personal brand. Nevertheless, it’s essential to differentiate them.

Some people have trouble deciding what to keep private and share with the world.

Ask yourself, “How much of myself do I need to be genuine without feeling like the rest of the world knows everything I’m up to?” (The “personal branding” approach to social media that many people take.)

One answer has been to create a “personal professional brand.”

Do you publish causes you believe in? Do you promote initiatives you’re involved in? Are snippets of your daily life on your website and social media?

For instance, images from a recent vacation or a snapshot of the family. This personal, professional brand would assist conveying a more extensive narrative of who I am if I were applying for any form of employment, collaboration, or client transaction.

Are there any exceptions to this rule?

Yes, of course! Having a single brand makes sense if your personal, professional brand is also your business brand — as many writers, lecturers, trainers, and thought leaders do.

Otherwise, keep them apart but point them in the same direction.

Here’s how it might go.

Create a professional personal website.

As a home for your own professional identity, one can suggest obtaining the domain name yourname.com (or something similar). You don’t want to manage a website like this in addition to your company’s website…do you?

Show up on social media, but just where you want people to see you.

As a small business owner (particularly one who reads this site), you’re probably aware of the value of social media.

You’re probably also worried about keeping track of your company and personal accounts on several platforms.

A little remark about LinkedIn while we’re on the subject of social networking.

Many individuals choose “Owner of Company” as their default title. Yet, adding a few more adjectives about who you are and what you excel at is essential.

If someone is looking for an expert or speaker and comes across your profile, they will better know who you are outside of your company.

Develop your thought leadership skills.

Find ways to offer your knowledge. Things like publishing articles or presenting on podcasts are a beautiful approach. It will boost your company’s and personal professional brand’s awareness.

You may and should mention your firm when these possibilities arise. However, you should also discuss your principles and what you stand for as a professional outside of your present position.

There was a recent interview on a podcast where people discussed their brand philosophy. It was said, yes, they do that every day at work.

But it’s also good advice to counsel other businesses or serve on advisory boards. Outside of your business, it’s a part of who you are.

Don’t be afraid to show off your personality.

What makes you a little bit eccentric? Is it simple for others to connect with you, both for companies and individuals?

So, while you build your unique professional brand, don’t be hesitant to show off such qualities!

Do you like ice skating? Do you have a massive Star Wars miniatures collection? Those enjoyable pastimes may not be able to take center stage in your company’s branding.

Still, they will provide a layer of appeal, curiosity, and connection to your professional brand. After all, they’re what distinguishes you from the competition — and that’s what branding is all about.

The post SMBs Make Personal and Business Brands Work appeared first on SmallBizTechnology.

Whether you own a marketing agency, a construction company, or a legal office, paying the bills and keeping track of the books is challenging work for any organization. When things go wrong, traditional finance and accounting methods have traditionally produced stress for everyone concerned, as well as financial ramifications. However, there has been an inflow of new digital payment solutions meant to assist small firms in developing effective procedures. Such procedures as receiving, collecting, and managing B2B payments help them stay competitive.

Experts teach us how to move toward digitizing payments and how small companies may use new fintech trends to improve their operations since working in the payments industry. And you’ll need a good accountant.

Pain Points in the AR/AP Process

Paper checks still accounted for 42% of all B2B transactions in 2019.

However, there are several drawbacks to this payment method, including high processing charges, payment delays, fraud risk, and even payment problems.

Despite the drawbacks of using analog checks and a laborious AP/AR procedure, many small companies have been hesitant to explore other payment options.

However, Covid-19 and subsequent payment-related advances have expedited the pace of digital transformation. Advances allow for several years of mainstream use of digital technology.

When they switched to a virtual workforce, employees needed to adapt their payment procedures swiftly. Employees couldn’t wait for accounting to cut a paper check. Approximately 82 percent of SMBs stated they were modifying how they processed and received B2B payments due to the epidemic.

SMB User Experiences Improved Across The Board

When digital finance solutions and ERP software first became popular over a decade ago, it was with enterprise-sized businesses in mind.

Because big corporations had the means to adopt, administer, and pay for the platform, the sheer difficulty of handling the corporate finances of massive enterprises would drive the industry.

On the other hand, small and middle-market firms lack the resources to support the technical installation. Similarly, the administration of these solutions.

Still, they do not have the exact requirements of major corporations. Fintech of today is the answer.

Well-known solutions of fintech have leaped on the potential to innovate as players struggle to scale down their platforms for smaller sectors. Consumer expectations have shifted beyond the applications they use in their personal lives. Consumers are now expecting the same from the tools they use in their professional life.

Fintechs are creating platforms that aren’t reliant on having dedicated team members to set up and personalize the software.

Card providers aim to dominate the end-to-end process of spending and cost management. SMBs may choose from various technologies to fit their specific financial requirements, including quick onboarding for their finance personnel. The tools are easy to use and accessible, with peer-to-peer distribution and a straightforward approval structure.

The Rise of AP Digitization

There has been an increase in Accounts Payables solutions attempting to address several of these issues. Streamlined workflow, cost reductions are among the first advantages. Enhanced cash forecasting, speedier settlement, and improved customer-supplier relationships are a few more advantages.

However, many businesses invest in AP automation solutions to help with invoicing processing.

New automation technologies are features to automatically code bills and identify data. The abilities grow to automate approval procedures, and even warn things like duplicate invoices and other abnormalities. Roughly 58.7% of firms report they’ve observed fewer invoice processing mistakes after using AP automation technologies.

Cards That You May Use Virtually

Many companies have also embraced a virtual card model. The model allows workers to make purchases and process payments using a single card number.

Of course, it has a spending limit, ensuring more security and transparency.

Virtual cards provide companies with robust controls and real-time data to help them monitor and manage their expenditure. Virtual cards’ digital nature enables organizations to improve their accounts payable operations.

Therefore, the digital nature will address various payment and expenditure management difficulties.

Trends in Digital Payments in the Future

Many of the innovations that Covid-19 expedited are here to stay. That is to say, the digital payments sector is continuously developing as the globe opens up again.

According to PwC, the move toward digital payments and a cashless society will continue: from 2020 to 2025. Cashless payments will rise by more than 80%. However, experts also identified digital wallets as one of the main trends driving the change. Equipped with the usage of digital wallet-based transactions, experts want to see an increase of 7% this year.

Traditional payment providers will engage with fintech and technology providers to develop and fulfill consumer and company demands. Respondents who provide this information were 86% of the financial sector.

Adapting to a Changing Market

Today’s entrepreneurs and investors are more eager than ever to upgrade the financial services sector.

In 2021, 82% of Americans utilized some digital payment. Therefore, these same consumers are pushing harder than ever for their commercial applications and service providers to give comparable consumer-like experiences in their regular business interactions.

Banks are rushing to compete, focusing more on innovation initiatives to satisfy the demands of clients. Numerous fintechs provide innovative expense management and bill payment products, as well as “neo banks” venturing into the commercial sector to service the needs of small companies.

Small companies who want to improve payment and cost procedures should speak to their bank and credit card partners about new digital payment alternatives. Companies will be spoiled for choice when implementing digital payment solutions.

That is to say, big changes are afoot with fintech upsetting the industry and banks establishing competing options. As a result, businesses will benefit from improved cash flow management and simplified operations. It all boils down to how loud the chorus sings above the band.

The post Fintech: SMBs Are Getting On Board With Digital Payments appeared first on SmallBizTechnology.

Small businesses can teach big companies a few things about innovation. SMB’s are recognized for being resourceful and imaginative, whether because such qualities are part of their image and beliefs or because they have limited resources. Whatever the cause, they deploy and survive on some clever techniques, including the technology of automation.

Firstly, there are many things major organizations can learn from their smaller — but often more innovative — counterparts, ranging from structure to innovation.

1. Consider the company as a small business franchise.

Small companies often turn to franchising for growth. While giant firms may not be interested in franchising, they may discover opportunities to innovate by thinking of their company as a franchise. They might uncover chances for innovation and simplification. That could be if they record and standardize marketing, operations, and sourcing. That is to say as if they were trying to reproduce themselves in new areas.

2. When scaling, maintain a strong culture.

Employees are the actual worth of any company. It is a vital fact that many leaders forget as companies develop. Retaining a strong culture as a company grows is a piece of wise advice that large organizations may learn from tiny enterprises. Therefore, people management is personalized and focuses on culture-driven productivity as small enterprises expand in a “pod-like” structure.

3. Complete small business transactions as soon as possible.

The number of departments through which a single transaction may transit differs between large and small firms. Because they have a flat structure, small businesses tend to react quickly. Yes, screening (for example, marketing material) is beneficial, but time is valuable in any organization. It is critical to carry out tasks in a timely and efficient manner.

4. Quickly respond to customer feedback.

The essential thing to keep in mind is not to over-complicate things. This is something that small firms must do, but the more individuals between the consumer and the decision-maker, the lower the customer happiness. Therefore, they react fast to consumer input by empowering employees close to the decision. Only bring in people with a critical purpose. Consequently, enhancing customer pleasure, loyalty, and revenues become easier.

5. Shorten the time it takes from concept to small business execution.

The idea of execution time-frame is something that tiny firms excel at. Cumbersome processes and coordinating schedules sometimes slow down performing market research and generating a viable product in more prominent firms. For example, smaller firms are far better at transitioning from the strategy to the execution stages — a process that larger enterprises may learn from.

6. Form self-organizing, smaller teams.

Put together smaller, self-organizing teams around particular challenges based on a single metric. This is due to the way small businesses function. Allow these teams to function as a small business, with a lean approach to inventing, building MVPs, failing quickly, and pivoting as required. Also, allow them the time they need and avoid overburdening them with bureaucracy and micromanagement.

7. Be able to quickly react and pivot.

Of course, because huge organizations have smaller staff, they can respond and pivot more swiftly when necessary. For example, the entertainment industry’s maturity has prevented TV networks from comprehending the TV. That is to say, a TV is just a monitor into which you input material. Rather than a “thing” that people would continue to watch with ads. It’s healthy to change your opinion.

8. Allow for quick and easy small business collaboration.

Do your workers know what to do if they have an excellent idea? Although this may seem straightforward, the answer is “No” in many giant corporations. Entrepreneurial individuals generally work in small businesses since there is less red tape and bureaucracy to deal with. However, when developing a brilliant concept, they can rapidly cooperate with their more minor team and put it into action.

9. Put more emphasis on customer engagement.

By their very nature, small companies excel in providing excellent customer service. Daily, they know who their customers are and build meaningful personal connections with them. However, large corporations are often disconnected from their customers and are distracted by the complexity of their operations. Therefore, as a large corporation, is there any way to interact more with your customers and make them the focal point of every choice you make?

10. Promote small business pilot projects.

Allow for trial and error in prototype programs. However, small firms are known for their flexibility, rapid implementation, and willingness to make errors. Therefore, policies, procedures, and processes become increasingly vital. Consequently, firms sustain the brand experience, but they may also stifle innovation and advancement. When large corporations cut the red tape from these procedures, innovation may speed up.

The post Small Business/Big Business appeared first on SmallBizTechnology.

For example, WeWork, a co-working space company, announced that they’d no longer serve or buy meat products at their professional events. Further, companies such as Starbucks have issued statements regarding the non-use of plastic straws to tackle plastic pollution.

Embedding sustainability efforts have a positive impact on business performance. In fact, 80% of customers prefer to buy products and services from companies with a proven record of sustainability regarding reducing their carbon footprint.

Developing an environmentally conscious workplace begins with your employees as your people must believe in your vision and practice sustainable activities before anybody else does. However, getting them excited about simple eco-friendly activities such as putting waste in a bin, saving electricity, etc., is not an easy feat.

Why? Because many don’t care or say that it’s not their responsibility. Or maybe they care but say they don’t have time for it.

So, if you want to take your sustainable strategy to another level, getting your employees involved is crucial for its success. There’s no fixed strategy to engage employees — different techniques work in different situations as companies have different cultures and visions. But, there are a few powerful ways to engage your employees in the company’s sustainability mission. Let’s get into these.

How to Engage Your Employees to Embed Sustainability Internally

Here are five ways to engage your employees for embedding sustainability internally, not just on Earth or Environment Day, but every day.

1. Refine your brand’s long-run mission to include sustainability goals.

All companies have to earn profits to remain in the business, regardless of how it makes those profits. But, the thirst for profits has resulted in the destruction of natural resources and people, especially the most vulnerable populations.

So, the first tactic to engage employees is to ensure that the company’s long-term objectives are aligned with doing good to the people and the environment while also earning profits.

Every organization should define a clear, long-term social purpose in their overall strategy and reflect it through their brand and products.

For instance, in 2010, Unilever announced the Unilever Sustainable Living Plan (USLP). It’s a roadmap for the organization’s growth strategy that explains how the company’s success depends on the success of the people and their environmental impact. This plan outlined three key goals:

• Enhancing the well-being of over a billion people by improving their overall health.
• Bettering the financial livelihoods of millions of people in Unilever’s supply chain (such as farmers).
• Reducing the environmental footprint of the company’s products.

The organization’s social purpose enables employees to tap into some great opportunities to use the brand as a means to express their values and create something meaningful — in and out of work.

In short, this helps them understand the main motive behind the work they do.

2. Impart sustainability knowledge and competence.

If employees want to support their organization’s sustainability initiatives, they must know what sustainability is and how it can benefit society, the planet, as well as the company as a whole. Thus, providing sustainability knowledge and training is crucial in bolstering a “can do” attitude towards creating a sustainable culture.

Many companies feel that only people with “CSR” in the job titles require sustainability training. However, that’s not the case anymore. Professionals at all levels can benefit from sustainability and social responsibility knowledge, such as managers, leaders, consulting professionals, and entrepreneurs.

Companies such as IBM, Marks & Spencers, and Nestle have invested a lot in sustainability training, tools, and systems so employees can learn and apply sustainability in their work.

Here’s how you can train your employees:

• Host casual meetings over lunch, conferences, seminars, and online training to discuss the different topics on business sustainability. Ask them about their opinions and tips on contributing to creating a sustainable culture.

• Involve employees when creating relevant, sustainable policies for the company. This way, they will feel that their opinions are valued, increasing their morale and productivity. And, you can get some new ideas for improving your sustainability initiatives, which brings us to the next point…

3. Cocreate sustainable brand practices with employees.

Another effective way to engage employees in sustainability is to involve them in creating sustainability programs.

When companies act on even the smallest idea shared by the employees for the sustainability initiative — such as switching to using digital signatures or investing in office plants — they feel like a vital part of the organization. This, in turn, boosts their morale and loyalty towards the company.

Not only that, companies get a plethora of better and new ideas when they consider the workers’ suggestions. However, employees might hesitate to provide suggestions, especially if their ideas have been ignored in the past.

Therefore, it is essential to provide the right environment where employees can come together and get comfortable sharing their ideas. This might take time but is worth it in the long run.

One way to do this is by creating a green team. A green team involves employees engaged in improving the company’s sustainability.

Here, your employees can share their ideas freely and make decisions regarding their implementation. You can also gather more ideas during periodic staff meetings or send out an employee survey.

An excellent example of this is Marks & Spencer. An employee suggested placing clothes-recycling boxes in its stores to provide income for the International Oxfam movement. The idea was highly supported by the board and achieved tremendous success.

4. Gamify sustainability adoption.

Want to make your employees sustainable while entertaining them? Gamification is your best bet.

Nowadays, many organizations have started turning to gamification to engage and influence their employees and participate in sustainable initiatives. Basically, it uses gaming elements such as rewards and points to boost employee engagement in various activities.

Plus, it makes learning and training more interactive and fun.

Microsoft created the “One Drop of Life” app to raise awareness of the global water crisis among users. In this app, players have to navigate a water droplet through a maze full of twigs, leaves, and toxic waste to reach the collection of droplets.

If the droplet touches any garbage, it will become contaminated, and the game is over. At the end of each round, a factoid bubble appears, mentioning a fact about global water shortages. Such apps and games help employees learn about global issues and develop ideas to tackle them.

Furthermore, creating point-based leaderboards is an effective technique that appreciates the employees who participated more often in the company’s sustainable initiatives.

WeSpire has created a gamification platform where users earn points for completing various sustainable actions. For example, using eco-friendly products, recycling, or coming to the office via public transport.

Points are displayed on the leaderboards and shared on Facebook, inspiring positive change in others.

The platform has become a massive success that companies like Sony and McDonalds use to introduce their sustainability challenges to their employees.

5. Make your sustainability efforts visible.

Today, more and more companies are becoming eco-friendly, but they don’t provide any specific information on how they’re making a positive change for the people.

Also, announcing that sustainability is essential and doing nothing about it is a major step towards failure.

If you want to truly incorporate sustainability in your organization, you have to show it to others, including your employees.

From the hand soaps, paper towels, and toilet paper in employee bathrooms to whether or not you’ve installed durable, commercial-quality EV charging stations for businesses in the parking lot, these decisions create a domino effect.

Visibility plays a crucial role in changing employees’ beliefs and influencing them to contribute to various sustainable initiatives.

One way to boost visibility is to have clear indicators that you are tracking and sharing the progress with the employees — whether by posting updates on the employee news channel, communicating it in the regular meetings, etc.

Only when the employees understand your sustainability efforts and how you’re moving towards them will they be more enthusiastic in contributing towards the same.

Furthermore, it is also necessary to celebrate successes — both big and small. Employees must feel that they have played an enormous role in achieving the company’s goals.

Symbols and signage are also effective tools to grab people’s attention towards the company’s commitment to sustainability. For example, Marks & Spencers has put up numerous signs to encourage their employees to take the stairs instead of an elevator, even if for a few floors only.

Wrapping Up

Sustainability initiatives are excellent for the people and the planet and also for boosting workplace morale. Including your employees in your ecological vision and influencing them to participate in different sustainable initiatives can go a long way toward making them satisfied and great ambassadors for your company.

The above tips can help you engage your employees, helping align their personal goals with those of your brand.

Equip them with the tools and tips to practice sustainability. Show them how their contributions help towards a greener world. When they feel proud for bringing a positive change, they’ll become more driven to work.

The post 5 Ways to Engage Your Employees for Building a More Eco-Friendly Brand appeared first on SmallBizTechnology.

Why spend time on an organizational chart when the world is coming apart?

That is an excellent question. Most firms see it as a time-consuming corporate activity. And, in the aftermath of shutdowns and a pandemic, it’s more complicated than ever to figure out who is responsible for what.

We all had to make a significant shift in our workplace in 2020, and it seems like everyone has had the same job description since then, namely “additional responsibilities as appropriate.”

Should small companies bother with an org chart in this day and age, when the world and our enterprises are constantly changing? By the way, how’s your tech branding coming along?

Here are several contradictory facts, as well as a preliminary conclusion.

Appropriate business requires reasonable limits. People have seen that clear lines of duty and procedure differentiate the best from the others.

That’s what an effective organizational chart does. Chaos reigns supreme when there are no limits.

Clarity has a nice side to it.

Org charts might be challenging to create, but they give definition and clarity. The loudest voice triumphs when no one understands who reports to whom and who is accountable for what.

And the most pressing need receives attention, even if it is a different voice and a minor requirement.

Is there another advantage? Coworker relationships benefit from clear limits.

How are you navigating The Great Resignation?

And while we navigate the Great Resignation, wise leaders will do everything possible to keep their teams together.

Tight limits result in an inflexible corporation that cannot adapt to changing times and crises. During the chaos of 2020, thousands of firms needed assistance with staffing, payroll, and other pivots.

Agility was a common denominator among the firms that survived (and even thrived) throughout that year. They could all shift, which meant abandoning the formality of “the way we’ve always done things” and the statement “that’s not in my job description.”

The downside of organizational chart technology is that it might make the team excessively inflexible, which doesn’t work in an era when agility and flexibility are becoming more critical.

So, the issue is whether to use an org chart or not. It would be nice to provide a general response because, you know, each team is different.

What works for your team in 2021 may not work in 2022. It’s an art, not a science, to set reasonable limits while avoiding rigidity. And technology can help.

Do employees understand their roles and how the organization runs as a whole?

Is your company’s organizational chart assisting or limiting your ability to complete tasks in a changing environment?

Is it a servant who helps you be more productive or a master who hampers you?

Teams are living entities that evolve throughout the season. Every year, ask yourself these questions.

You’ll figure out the solution and be able to lead your squad to the most excellent decision for the season.

Consider employing QR codes to get feedback from customers.

Almost all customers do internet research before selecting to deal with a company.

An astonishing 79 percent of customers believe internet evaluations of local companies are as trustworthy as personal recommendations from friends or family!

When it comes to a lack of online evaluations for companies, the technology-driven world we live in today provides no room for error.

Getting 72 percent of customers to agree to submit an online review is as easy as asking them and providing a direct link, but how can a company owner be sure that the consumer will follow through? After all, time presses consumers.

QR codes make things easier for everyone.

Convenience is the solution, as it is with almost everything else in the realm of customer service.

No matter how pleased consumers are with the service they received, they are unlikely to look for the company online and submit a review. Some customers may not even know how to use the internet to offer favorable comments.

By using QR codes to collect client feedback, you may prevent these issues from occurring in the first place. Here are three compelling reasons to use QR codes:

• QR codes may be placed everywhere your consumer could view them. They can scan them quickly and easily.
  • Place a QR code on the front desk if you have a physical location.
  • If not, you may place your review-gathering QR code on the side of business cars, on stickers or magnets, or even as wallpaper on your technicians’ phones so clients can scan it after service.
• You may customize QR codes to direct people to the relevant website, whether it’s Google, Facebook, or Yelp, depending on where your company would benefit the most from a review.
  • This is also an excellent approach for a company to see which QR codes clients are more likely to scan.
• QR codes are becoming more popular and helpful.
  • According to a Statista poll conducted in June 2021, 45 percent of U.S. consumers had used a marketing QR code in the last three months.
  • 59 percent expected them to remain permanent.

Why wouldn’t small companies embrace the convenience and accessibility of QR codes to promote good internet reviews?

Who can read QR codes if they don’t have a smartphone?

Even if QR codes get wide use for business and consumer convenience, there will always be a few skeptics.

That’s OK. We all want to make life simpler for our consumers, even those who don’t have smartphones or aren’t acquainted with QR codes.

To avoid any complications, having an employee assist these consumers through discovering your company listing online and getting to the correct page is an intelligent solution.

Using QR codes to generate online reviews is one method to profit from their growing popularity. The fact that 87 percent of customers read evaluations of local companies online should be a primary focus for your small company in 2022.

The post Use an Organizational Chart or QR Codes for Reactions? appeared first on SmallBizTechnology.

After hearing about its benefits from many other companies, a small firm decides to invest extensively in new technology. Including AI. Despite this, days, weeks, and even months pass without the corporation receiving a complete return on its investment. The issue, among entrepreneurs, has only intensified due to the pandemic and the hasty adoption of technology that resulted.

So, what’s the real story behind that? There might be many explanations for this. For starters, the technology implementation may not be as excellent as you had hoped.

Maybe your employees weren’t adequately trained. Perhaps the technology wasn’t a suitable match for your specific requirements.

It’s possible that the technology isn’t all that useful in the first place. And in the context of the pandemic, hasty digital transformation efforts often result in poor technological outcomes.

Unfortunately, anybody dealing with today’s challenges will find that solving them without technology is challenging. (In truth, every business should now be a technology business, but that’s a discussion for another day.)

Fortunately, you can make efforts to ensure that the technology you choose provides you with all you need. Remember that these aren’t fail-safe formulas for success, but rather a set of suggestions that will help you get closer to the results you want from technology.

1. Choose your technology carefully.

This is one of the most often repeated tips, but it bears repeating.

Why? Because you don’t have to employ every single piece of technology available. Sure, some IT basics may drastically transform your business. Meanwhile, you must be reasonable in how and where you use them, even in such circumstances.

When deciding which technology to use, there are a few considerations to consider.

You must consider specific demands, industry circumstances, competitor movements, and future business prospects before making a choice.

However, there is a mentality that may assist you in making better tech decisions. Choose technology that will help you become a more agile and fast-paced firm. Combining DevOps and CI/CD principles with decoupled data, infrastructure, and digital solutions may go a long way.

2. Include cloud computing in your infrastructure as a must-have.

The advent of the everything as a service (XaaS) paradigm allows you to tap into the power of various technologies.

Moreover, without having to make significant expenditures. As a result, you may (and should) use cloud computing to implement technologies.

Utilizing things like artificial intelligence, analytics, and big data can help your company grow.

Yes, cloud computing is ideal for storing data and even running customer relationship management software on top of it.

However, there’s more. Cloud computing allows you the freedom to scale up or down your tech demands at any moment. Meanwhile, you gain access to technologies that would be significantly more expensive if you developed them yourself.

3. Use data to make decisions and track progress.

You must already be aware that you base your selections on the information available to you.

Adopting big data strategies, as well as analytics and artificial intelligence, may help you maximize your company’s potential. This involves technology adoption and performance considerations.

Looking at the correct data may help you figure out which technologies are good for you. Consequently deciding when the optimum moment is to implement them.

Furthermore, when assessing the output and performance of new technology, data should be at the core of your monitoring activities. Data collected from the technology you adopt will offer you insights that will assist you.

Furthermore, you can determine what to alter, adapt, and scale up or down.

4. Invest in technology that will benefit the whole firm.

Because technology can empower your whole business, you should ensure that the digital solutions you implement benefit employees from all departments.

Doesn’t that sound natural? However, you’d be amazed how many firms acquire a specific technology, such as AI-based analytics solutions, and use it solely in one department, such as sales.

The concept is simple. Make as much use of technology benefits as possible.

Even if your new technology doesn’t seem helpful in a given area, try to conceive of other ways it may help you. At least, utilize the output to inform and connect with the rest of your firm. That way, everyone benefits — even if the production is a source of information.

5. Pay special attention to your workforce’s training.

Finally, you’ll need your team members to be well-versed in your new technology.

If you expect to install a new technology without providing extensive and continuing training to the individuals using it, you will be disappointed.

You’ll need extensive training to ensure that your staff understands making the most of the new digital solutions. Perhaps most significantly, the training should be continual rather than a one-time event.

That’s because you could discover new applications, or you might upgrade the solution with new features and capabilities that you wouldn’t have known about if you hadn’t informed other colleagues about them regularly.

If you don’t want to repeat the errors that others have made, do yourself a favor and think carefully about these tips.

The post Five Ways to Maximize the Benefits of Technology appeared first on SmallBizTechnology.

Retail technology industry funding hit a new high of $29 billion in the first quarter of 2021. In other words, retailers and tech firms tried to merge online. Likewise, in-store experiences, customized interactions at every touchpoint, and speeded up delivery operations had their influence.

And boy, did the industry smack the ball in 2021! Can small businesses keep up?

Yay for Tech!

We’d be writing and reading till 2023 if we analyzed every retail innovation that took place in 2021. After all, some failed.

It’s easy to choose the few technologies where merchants will likely spend more this year.

“Untouchable” invention. The industry expects touchless technology to grow from $6.8 billion in 2020 to $15.3 billion in 2025. The projection may be an overstatement due to pandemic-related safety precautions. By 2020, 67% of merchants would accept no-touch payments, such as tap-and-go credit cards and mobile wallets.

According to Raydiant, a producer of in-store digital signage, by spring 2021, 72 percent of customers were utilizing contactless payments. Expect more frictionless options, like Amazon Go cashier-less stores. Step 2: Software that can read hand signals and other motions.

Niche Industry Quick-Replies

QR codes seemed consigned to the “Island of Lost Tech” for a while. Therefore, the pandemic has altered that by driving demand for touchless technologies QR codes.

The projection, according to Juniper Research, consumers will redeem 5.3 billion QR-coded coupons by mobile in 2022. Starbucks and 7-Eleven feature QR codes in their payment applications. Like Lacoste and Zara, merchants utilize QR codes to deliver customized smartphone offers in-store, advertise goods in windows.

Likewise, connect to web purchasing. And luxury companies have found them helpful in preventing product counterfeiting, a rising concern.

Always-On Cybersecurity

All online shopper data is as essential to fraudsters as to retailers. Corporate and government data breaches increased 17% a year until September 2021, surpassing 2020.

In 2021, the average retail data breach cost $3.27 million, up from $2 million in 2020.

Because hackers are growing more intelligent, merchants must invest in proven, faster-detecting solutions. They must also utilize these services more wisely, gathering the data required to achieve specific objectives. Securing it like Fort Knox…and then destroying it as carefully as plutonium.

Streaming Industry Upstream

Another popular activity for consumers is celebrity-hosted internet sales events.

Some say they will gain popularity in 2022. Experts warn merchants not to anticipate a boom yet — and therein lies the opportunity.

According to Coresight Research, the U.S. live streaming industry will hit $11 billion in 2021. A considerable increase to $35 billion by 2024, but still just 3.3 percent of anticipated U.S. eCommerce, according to Coresight.

You should thoroughly test themes, product mixtures, and marketing. A broadcast might remind viewers of a hard-sell QVC pitch, so be careful with your content.

Dark Shops That Shine

Demand for speedy delivery has put new technologies to the test in the last 24 months. Converting out-of-business shops into fulfillment centers has become common.

Online research shows retail online purchases as of 2021, about 21% of all retail purchases (and hence fulfilled). Compelling fulfillment centers will demand more precision technology as the worldwide same-day delivery business grows. Experts project going from $8.4 billion in 2021 to $10.2 billion in 2022.

Good start! However, many dark businesses now provide curbside and in-store pickup in addition to delivery. For example, these consumer-centric technologies position dark shops to dominate the industry in eCommerce growth until 2022.

Vaimo says that global eCommerce sales will hit $6.5 trillion by 2023.

Two Wait-and-See Technologies

With trillions at stake, merchants should take a chance on tech. But even those that merchants may offer in 2022 are bold and maybe ahead of their time.

Virtual Fitting Rooms

Virtual fitting rooms make the cut.

Just as merchants needed time to discover the proper match for QR codes, it may take another year or two for virtual fitting rooms to establish themselves in shops.

Levi’s introduced its “Virtual Stylist” in 2017, while Gucci and Macy’s have lately experimented with the technology.

A virtual fitting room requires excellent product images and augmented reality to create a 3-D illusion. Also, the customer’s technology (for example) will influence the experience. You will remember 2022 being the Year of Lost Tech for these reasons.

Shopbots

Until proven otherwise, the in-store robot’s utility and profitability place it in the “cute gimmick” category.

Meanwhile, an app is likely cheaper to locate things on the shelf or order out-of-stock items, and it is more convenient for consumers.

However, robots can also clean floors, check stock levels, and transport merchandise at a reasonable cost.

Encouraging shoppers to buy something is one thing, but blocking their way is another. Walmart has been trying robot-enabled last-mile deliveries aside from Tiny Mile’s charming self-driving delivery carts. Wal-Mart plans to deploy fully autonomous trucks in late 2022.

Keep Up With Retail Tech Industry

We may be scratching our brains about in-store robotics or the unexpected decrease of live streaming in a year.

Creators of technology and shops prepared to take in a “cute gimmick,” or lost technology are in control of such situations.

Most importantly, for smaller shops and their technology to be successful in the future, customers must be digital. If they don’t, you may forget their ideas in a flash.

Remember, a little plaster can cover a big eyesore.

The post Retail Industry Tech Trends to Watch This Year appeared first on SmallBizTechnology.

Were you a small business thrown into chaos when the Covid-19 outbreak? If you were hit, you may just now be starting to recover more than a year later. In a post-pandemic environment, small-enterprise owners must be aware of the changes and key trends driving business.

1. Empathy and Emotional Intelligence

We cannot overstate the importance of emotional honesty and modeling emotional intelligence.

Empathy is no longer a luxury but rather a valuable tool for coping with life’s and work’s obstacles. You don’t have to know or reveal every detail of an employee’s (or your own) circumstances, but detecting moods or actions and responding with care is appreciated. “If we inquire, ‘How are you doing?’ we genuinely want to know.” Adopt that slogan.

2. Social Media Influencer Marketing

The power of influencer marketing is a key trend that small companies should be aware of if they aren’t already.

Small companies may use online platforms and social media channels such as Instagram and TikTok to communicate their stories and raise awareness and enthusiasm. Influencers of all sizes (even micro-influencers) provide credibility to the article by adding context and endorsements.

3. Large-Scale Business Processes and Systems

Small firms must begin adopting large corporate systems and procedures to succeed in 2022.

What we mean is that small firms should set up toll-free phones, IVR systems, and automation to organize their operations. Act as if they were much more significant than they are. It will be critical to their success if they can do this.

4. Increased Recruitment Efforts

Companies will be able to broaden their recruitment efforts to be more far-reaching than in the past.

As the globe is more linked than ever, more individuals choose remote work locations throughout the world. In a tight labor market, organizations have purposefully established their culture. They are defined purpose, values, and norms will be more effective in recruiting the appropriate personnel.

5. Workplace Values That Put Family First

Over the past year or two, many individuals have reviewed what they value in life, resulting in family-first key trends.

As a result, company owners must establish a workplace that prioritizes people or risk losing their most exemplary employees. Small-business owners must develop a set of workplace principles with their employees and ensure that supervisors, in particular, lead by example.

6. Building Relationships with Business Owners

Don’t miss out on 2022’s hottest key trend: networking!

Small company entrepreneurs may increase their efforts tremendously by networking with other business owners rather than expanding alone. As a result, networking allows you to get business lead referrals and hear new market views. Learn from other people’s experiences, improve your game, and pitch. Team up and establish partnerships that motivate and drive each other’s development.

7. Digital Marketing’s Effectiveness

Digital marketing is here to stay, and small company owners should embrace it.

However, digital marketing may not completely replace in-person profile development. While it did during the epidemic, its cost- and time-saving benefits cannot be overlooked. Consequently, utilize these advantages to reach a large audience constantly.

8. Cloud and Digital Technologies for Business

A robust digital presence is lacking in many small firms.

Your ability to utilize and use today’s digital and cloud technologies will determine much of your success. Similarly, key trends like this bolster your commitment to keeping on top of whatever technology your customers use. That is to say, it will add to your success in the next ten years. It’s Slack, Teams, and Twitter trends these days. Who knows what the situation will be like in three years?

9. Product Development and Agile Service Delivery

The ability to stay flexible in client service delivery and product development will provide you with an edge.

Flexible delivery trends assist in creating a personal brand with a recognized competitive advantage. Likewise, creating a range of solutions and understanding the effect of these solutions on various customers can help your small company stand out. To clarify, your small business can stand out in any market by allowing you to provide variety, creativity, and strategic innovation.

10. Employee Business Coaching and Mentoring

Small firms will need to develop unique, new methods to recruit and retain talent to keep their employees happy and enhance retention.

Trends toward providing coaching or mentoring to workers exist. Consequently, it is considerably more beneficial to a person’s growth than a break room with a ping-pong table!

11. Synchronous and Delayed Video

The use of both synchronous and asynchronous video will be crucial.

The use of video to prospect, sell, service, and meet with people across the world has increased dramatically in the previous 18 months. Everyone has access to a phone, tablet, or laptop, and we are just a click away from engagement. Video is the new “new” thing, and its popularity will only grow. There are several free platforms to choose from. Get started!

12. A Business That Is Both Traditional and Hybrid

As we balance security and insecurity with a healthy home and working environment, we have options for workers.

Having a hybrid workplace where workers may pick their best work schedule will be a key trend for the future. In conclusion, employers must accept multi-generational staff with various value systems and life-learned skill sets.

The post Key Trends: 12 That Will Drive Small Business in 2022 appeared first on SmallBizTechnology.

Changes spurred by new technologies, such as improved customer experience and more revenue, are of interest to everyone. We facilitate rapid expansion by adapting our company to meet the current demands and expectations of customers. If you don’t adjust to the changing times, you risk losing clients to the competition.

Although enterprise-level organizations are at the forefront of technology adoption and spend heavily in its acquisition, small businesses benefit by investing their limited resources in marketing.

Technology plays a critical role in increasing operational efficiency. Given how things have evolved in recent years, the following technological trends may be able to assist you in improving the experience of both your staff and consumers.

Put Up Signposts Along the Internet

Digital signage entails displaying marketing messages for your company on display technologies such as LCD monitors, video walls, and projections. It’s one of the most efficient ways to publicize your small company.

The interactive LOOK DS infrastructure is appealing and has a significant impact on a customer’s decision. Digital signage enables you to communicate with customers in addition to promoting your business actively. We accomplish this by including some well-known and inspiring phrases on your display.

Using digital signage to promote your company can save you money on conventional marketing initiatives while increasing impulsive purchases.

“AI” Stands for Artificial Intelligence

Artificial intelligence (AI) is a method of simulating human mental capacities such as decision-making and problem-solving via computer systems. AI can help your small company become more productive and efficient.

Of course, machines, in contrast to human beings, work quickly and consistently generate high-quality output.

AI helps your employees to concentrate on higher-level activities. Automated systems handle repetitive duties. AI also saves you a lot of time and allows you to complete your tasks more quickly. Because you’re using less human fallible labor, your operations will be of higher quality and have fewer faults.

Marketing via Influencers

Influencer marketing is a sort of social media marketing that utilizes large-scale platforms to promote and mention your items to their audiences. Social media influencers often establish trust with their following, making it simpler for them to recommend your business. Influencer marketing is a good option for small companies to expand their brand on a tight budget.

Use influencer marketing alone or in conjunction with other marketing strategies. Its cost-effectiveness makes it a preferable option for small enterprises. The size of your audience and the topic you’re targeting determines the price you pay.

Shopping with the Help of Technology

Customer expectations have changed as a result of technological improvements, with the majority of consumers preferring speed and ease.

Consumers may buy a product or arrange a service from the comfort of their own homes when they shop online. The majority of individuals choose to get their goods online rather than wait in huge lines at shopping malls. This saves time while also enhancing client satisfaction.

In today’s world, mobile payments are frequently employed by both small and big organizations. As a result of lockdowns and COVID-19 measures in most states, this has grown increasingly common. Using online purchasing and payment to grow your company is a smart move.

Automation

The word “automation” refers to a variety of technological applications that eliminate human involvement. Employees at small firms and companies spend a lot of time on basic, low-level yet necessary jobs. Customer experience, data entry, and appointment scheduling are examples of these tasks, which vary based on the type of your organization.

Although these duties have a big impact on how the firm operates, they may be time-consuming and labor-intensive in the long term. However, with today’s automation systems and solutions, you can save expenses, enhance production, save time, and improve the efficiency of your small company.

It’s essential to take advantage of existing technologies improvements for your small business’s growth and profitability. You can take your small company to new heights with the correct techniques, including digital signage technology. You may employ systems, applications, and programs to affect your rankings and total visibility, depending on the type of your firm. Using the techniques above in your organization will result in a shift in your daily operations.

Accounting Technologies

We all know that CPAs are expensive. Even if they’re automated, nothing more than an app and an algorithm! And yet, you must keep your finances in order.

This is one area where small businesses must bite the bullet. You get what you pay for. So invest in your accounting services, whatever route you choose.

The post New Technologies for Small Business appeared first on SmallBizTechnology.

Change upward will require technology. Using technology strategically will provide you with a competitive advantage.

You don’t have to be a scientist to use technology to expand your business. Just spend less time on useless stuff like TV and more time on things that can help your business. The material in this article is meant to help you start using technology to expand your business.

Here are some strategies to use technology to grow your small business.

1. Communication technology can lend a hand.

Communication is one of the numerous advantages of technology. This perk allows you to communicate more readily with potential clients and partners.

For example, you may utilize top email marketing tools to engage potential customers. There’s no need to go when you can call. Technology improves communication. You may use a video call to see the other person from afar.

2. Use technology to boost marketing.

If handled appropriately, technology may increase your marketing efforts. However, conventional marketing methods will never be as effective as technology-based marketing strategies. Like social media marketing.

A camper repair service, for example, may use a strong social media strategy to quickly contact new consumers and drive them to their website. Even if you lack education or experience, technology can help you write a business strategy. You can construct unique websites utilizing technology-based solutions even if you don’t know anything about web design.

3. Social networking will be useful.

Social networking accelerates business growth. It connects you to so many individuals from your home. Digital marketing is one of the best methods to use social media for business success.

Working with a social media marketing agency allows you to promote your products and services without having to advertise physically. The internet touches almost every country. So anything you share on social media is worldwide. Social media marketing also allows you to select your target demographic.

4. Remote employment saves on resources.

As a small business, you must save time, effort, and money. A remote office is one of the finest methods to do this.

It allows workers to work from home and will enable you to communicate with them without having to meet in person. If an employee is unable to report to your physical office, they can interact with you using remote work tools.

5. Create a website.

You will need a website to promote your services. So, if you want to develop your business faster, get a website.

Building a website is not enough; it must be adaptable and appealing to potential clients. An effective, responsive website will provide your company with a digital presence. It will also provide credible information about your company to anyone seeking it online.

To ensure that your website is both visually appealing and functional, consider partnering with a reputable b2b web design agency that can create a custom website tailored to your business needs and target audience.

6. SEO is your lifeblood.

It’s not enough to develop a website; it must be seen. Increased visibility attracts more customers, resulting in quicker brand growth.

This is only achievable if you optimize your online content for search engines. If you lack the necessary understanding, you may need to engage SEO specialists.

7. Protect your assets.

While technology might help you reach a global audience faster than traditional methods, it also has its drawbacks. For one, your website may be hacked, resulting in data loss or theft, as well as financial damage.

Securing a reliable internet company will help. Create active firewalls for your website and use encrypted passwords.

8. Use cloud storage.

Don’t keep everything on your PC; shift some to the cloud. Cloud storage frees up disk space and might even speed up your machine.

It can also make your data and files available if you need to view them outside of your office or at a remote location. This way, you have all the information you need at your fingertips.

9. Provide better client service.

Technology can help you noticeably improve customer service.

This may be done by offering live chat services where existing and future consumers can speak with you and receive rapid responses. You may also provide toll-free calling so that your customers don’t have to pay.

10. Automate mundane duties.

Automating duties can also help your small business. Customer service is one duty that may be automated.

Automated messages can address many of the questions customers ask. You may also schedule social media postings. And therefore focus on other elements of the business.

11. Video marketing always attracts eyeballs.

Another option is video marketing. But make sure the videos you create are linked to your products and services.

Search engines will give your website a higher ranking if you have connected videos. You may also share these films on social media.

Bonus Advice!

Content marketing is a great approach to promote your company online. You can submit SEO-friendly material to major websites like E-zine. You may also develop backlinks to connect with authoritative websites. If this is too technical for you, you can always employ an SEO specialist.

The post Use Technology to Improve Your Small Business appeared first on SmallBizTechnology.

Fortunately, this new-normal society ensures enormous earnings from small resources.

With everything going online and technology taking over, there are limitless ways to earn. But becoming an entrepreneur requires foresight. While you’re still thinking out what your small business should be, someone else is already generating money and building an empire.

Small Risk, High Return

Are you looking to establish a business now? Consider the changing standards and technology developments. It will assist you in choosing one that will benefit you long-term.

Listed below are five small business/entrepreneur ideas to start in the New Year.

1. Reseller Hosting

Nowadays, reseller hosting is quite popular.

Reseller hosting operates like a rental business. Instead of owning and renting an online residence, you rent web server storage space. This gives users access to all web server resources needed for a website. In addition, reseller hosting is less expensive than buying straight from the central hosting service.

Owners may make a lot of money if they rent the place for a long time.

A simple technical understanding of website hosting and a budget to acquire a reseller plan from the parent provider allows you to customize those packages and sell them.

The definitive guide should be your first stop for learning how to resell hosting. This type of company has a lot of potential as you can offer it alongside web design, development, SEO, and other online services.

2. NFT Collectibles

NFTs are non-fungible art tokens that may be used as blockchain digital assets. The average monthly sales for NFT’s value was calculated at $336.6 million USD. This shows the NFT industry’s potential.

If you like visuals and crypto, you might like the NFT startup business. You don’t need to be an expert in all graphic design tools to start with creativity and fundamental abilities.

The blockchain allows you to mint any sort of abstract item, GIF, photo, song, sketch, or anything else. To mint art, you must first code it for blockchains. It will prevent anyone from copying your art. The most common cryptocurrency for selling NFTs is Ethereum. However, there are others.

3. Sustainable Products eCommerce Business

Starting an eco-friendly eCommerce business might be a terrific solution for you.

People are becoming more aware of the need to conserve the environment. The sustainable goods industry is expected to hit $150 billion USD by year’s end. You may earn your share by opening a modest online store.

Introduce notebooks, stainless steel water bottles, cloth totes, travel mugs, biodegradable cutlery, bowls, plates, reusable food bags, and other recycled plastic items. You may quickly create an eCommerce website or launch your business on Amazon, Etsy, or eBay.

4. Affiliation

Affiliate marketing is also a terrific way to generate money.

Affiliate marketing is online marketing. It’s simply helping others promote and sell their products or services in exchange for a cut of the revenue. You can utilize blogs, YouTube videos, social media, and an email list.

The most popular choice is blogging, which produces long-term effects. A website is all you need to become an affiliate marketer. After that, join an affiliate network such as Amazon Associates. Then choose a hobby and start writing about it to make money.

In other words, affiliate marketing has a high return on investment and may be done as a side hustle. The nicest part is that it can be automated.

5. Online Coaching

This is the new normal. The e-learning industry is expected to reach $336.98 billion USD by 2026. For instance, if you are brilliant at something and know everything about it, share your expertise…and get money.

Virtual classrooms are possible using Google Meet, Zoom, and Microsoft Teams. Also, you can make money by teaching skills relating to your industry via your YouTube channel.

Providing mini-classes in any profession or industry is always a good trend. You can train people online in any field, from manufacturing to digital marketing. You can be a relationship coach, a financial coach, a health coach, etc.

How does that work? It’s simple.

Most small business owners can access in-house or online classes for themselves and for their employees. The cost is nominal. Even free sometimes.

So do yourself a favor. Look into continuing education for yourself. Also for your staff. It will help you expand your horizons. Similarly, your employees will become more efficient and more valuable. And maybe even a bit grateful.

Don’t hesitate to offer tuition reimbursement. This can be a key to better employees. The more you know, the more you contribute.

The post 5 Small Business Ideas for the New Year appeared first on SmallBizTechnology.

Evolution is part of any business — what works this year may not be as profitable or as effective in the next. Without riding the coming wave of new trends, you run the real risk of getting left behind. In eCommerce, the industry is far more aggressive. Competition between companies and online merchants is fierce. Trendy products and services — other than essentials such as food and digital products — rarely last for years. Much like everything else on the internet, audience interest and attention are transient.

The entire eCommerce ecosystem became more frenetic in 2020. The global population was forced indoors and adopted social distancing protocols due to the pandemic. There wasn’t much room for in-person dining and shopping. Everyone turned their attention to online services. They utilized online stores to shop for everything from food to personal essentials. People had little choice but to get their needs met online.

As a result, the already saturated eCommerce market grew by up to 44%. It added up to 22% of the world’s total retail sales. But that was only the first stage. Eventually, the dust settled and the eCommerce industry found some footing. This transformation created trends in the products that customers shop for. It affected strategies and campaigns used by online stores and marketplaces.

Now that the market is so broad, customer experience rules the day. Companies now use chat support, eco-friendly packaging, personalized thank you cards, and more. The customer is solidly at the center of the eCommerce shopping experience.

The Purpose and Functions of eCommerce

Our evolution into a user-centric experience in eCommerce wasn’t sudden. It’s been gradual. However, the best practices have trended to revolve increasingly around user comfort and positive experience.

The purpose of successful eCommerce trends is to stimulate site users and visitors into making a purchase. Vendors hope to improve the conversion rate for their business. Moreover, happy buyers become repeat customers. They often encourage other customers to make a purchase. After all, one of eCommerce’s main tasks is to cater to the demand and solve the customer’s problem, satisfying their needs.

Another aim of eCommerce this coming year is to improve communication. Customers enjoy giving feedback. They appreciate the feeling of being heard by companies. Whether they’re happy or unhappy, they’ll let the company know. Today, they expect that their feedback matters.

Stay Ahead of Customer Happiness: Notable eCommerce Trends Projected for 2022

Maintaining and improving your conversion rate in the eCommerce industry is critical. Your business needs to stay on top of incoming eCommerce trends, particularly those that emphasize positive customer experiences. Start implementing them now if possible. Commit to adapt to these trends and you’ll future-proof your business.

Listed below are some of the biggest eCommerce trends that analysts and experts project to take root by 2022.

Prioritize an Omnichannel Strategy

This strategy refers to selling and marketing on multiple platforms. This is increasingly important as diversifying the ways customers can find your products makes you more visible. It also improves your conversion rate and reinforces your authority.

Suppose your name pops up on major selling sites such as Amazon and eBay or other specialty marketplaces that facilitate the distribution of products to your niche. In that case, it gives your business the appearance of size and authority. According to a study, 46.7% of customer searches come from Amazon, eBay, and Etsy. More than half of the units sold via Amazon come from third-party sellers. Visibility in social media is always a plus. Approximately 37% of users research products and brands through social media before making a purchase.

Optimize for Voice Search

In recent years, people have become more accustomed to interacting with voice-operated devices and features. Examples include Google Assistant, Amazon’s Alexa, and Apple’s Siri. Using voice commands makes performing tasks such as searching for businesses, asking for directions, and even online shopping even more convenient.

As such, eCommerce companies should prioritize optimizing their sites and pages to be responsive. The goal is to be compatible with platforms these AI assistants search to improve conversion rates. More and more users will be looking into this technology to make their lives easier when they need information.

This technology isn’t fully developed yet. It continues to release updates to make its functionalities more sophisticated, but it’s already a great feature for users. Your brand needs to be prepared to adapt to it sooner rather than later.

Voice Shopping Will Take Centerstage

Along with voice search comes voice shopping. This has already taken hold within the U.S. in a “smart speaker market share.” The smart speaker market is projected to increase by a whopping 55% by the next year. This proves that customers want to use voice assistants in their homes to do more than just search for answers. One of the most common tasks they want voice assistants to perform is to shop for them.

It’s still complicated. Customers have to describe in detail what they want. They must articulate the product, product packaging, ingredients, and other vital information for the voice assistant to return proper results. Unless they have a device that comes with a screen, there are no visual cues. Vendors must make sure their website is optimized to contain the right indicators that allow people to find your products via voice shopping.

It’s also a priority to make the shopping process friendly to voice commands as well. Your website needs to be able to respond to the automated assistant. Product listings must be able to describe the steps a user must take to confirm.

M-Commerce

As mentioned earlier, mobile commerce is rapidly becoming the norm. Smartphones have become the most active form of internet access today. Mobile users are so numerous that Google’s algorithms have changed their priorities. The algorithm now scans and checks websites with mobile-friendly design and features and puts those at the forefront of SERPs.

M-Commerce has grown just as rapidly, with more customers making their purchases over their smartphones. To improve your conversion rate, adding features that will help mobile shoppers can give you an edge. Using filters as a virtual dressing room, geo-targeted promo codes, mobile GPS pins to the nearest branches, or even something as simple as a mobile payment option gives you a distinct advantage over the competition.

Green Consumerism

Eco-friendly practices have become one of the most critical trends in the past few years. More businesses and consumers are starting to understand how vital it is to use sustainable products and create eco-friendly packaging. One survey found that half of its respondents preferred products made of sustainable materials and companies that use eco-friendly components and packaging. Up to 75% of them wanted to do away with packaging (especially plastic packaging) altogether.

Green consumerism is now a significant focal point for many businesses, even tiny businesses that want to make an impact. Their eco-friendly packaging and other touches — water-activated paper tape, recycled paper package padding, cardboard boxes, biodegradable plastic parts, reusable freebies like metal straws, and more — attract customers who want to do their part to fight waste and non-biodegradable trash.

Drone Delivery

This concept made waves last year when Amazon first debuted it. It has since gained some traction with companies such as FedEx and Alibaba preparing to adopt it. It takes shipping into unheard-of levels and creates a unique service that many customers would be willing to pay for just to see it happen.

Furthermore, it’s another way to enforce contactless payment and delivery. There would be no need for delivery personnel to come to a person’s residence to deliver the package. Better still, drones aren’t restricted to the traffic and roads to which land delivery channels are constrained. They can make same-day deliveries from the nearest distribution or fulfillment center.

While there’s still a long way to go when it comes to nationwide (much less global) implementation — along with specific difficulties along the way concerning a perishable product, packaging that withstands potential drops, and other issues — it’s a promising start. The carbon footprint of drones is a lot smaller compared to freight trucks, vans, and other land-based delivery options.

Augmented and Virtual Reality

Some years ago, the widespread fame of Pokemon Go introduced consumers to the wonders of augmented reality. Now, it’s widely available and viable for commercial purposes. Many businesses have been implementing it for various features.

Adding AR features provides a unique experience for customers. For example, it can give them the utility of “trying” an item on before they make a purchase, the same way they would if they were in a brick-and-mortar store. As such, it improves the conversion rate as it eliminates buyer uncertainties.

Clothing stores have begun using AR to create virtual dressing rooms. Customers can try on clothes before buying them. Some salons offer hair color testing features to see if a particular hairstyle will suit a customer. IKEA uses virtual reality to scan and measure a room. Buyers can see what a piece of furniture would look like in their home before buying it.

As you can imagine, these types of eCommerce trends aren’t just there to dazzle. They also serve an integral purpose to the buyer experience.

Social Media Enters Online Shopping

Social media has become more than just a marketing vehicle for eCommerce. Now it’s a selling platform as well.

Platforms such as Facebook and Instagram now have their shopping features which improve the conversion rate by lessening purchase steps. Customers can see a product getting advertised on a company’s Facebook page. They can then buy them straight away through a Shop Page or Facebook Marketplace.

Similarly, Instagram now has a much-anticipated shopping feature. Users can click on a photo and see tags that indicate the names and prices of the featured products in the photograph. After that, it’s a matter of making the purchase right inside the Instagram app. This cuts out the rest of the steps that typically lead a customer to a company’s page or selling platform and create an account for purchase there.

Headless eCommerce

As part of the movement to improve conversion rates through positive customer experiences, headless eCommerce was designed to give companies more significant control over their site’s front-end design. It also helps create personalized customer experiences. Changes made in the front end of the design don’t affect back-end functionality.

This way, companies can change and adapt the front-end design more efficiently than ever. They can respond to special events or holidays, or revamp website appearance every so often to fit their customer base’s mood and style. They can even transform the design for web, mobile, and tablet displays as needed. Significantly, they can modify the SEO of their pages as well, all without messing with the complex shop functionality in the back end to make it work.

Increased AI Use in Ecommerce

Finally, there is the increased use of artificial intelligence or AI. You might have already seen this done via chatbots installed in a business page’s social media platform messenger or directly on the website. The AI can act as an FAQ or helpdesk for customers with common concerns, removing the need for a human customer service rep.

Another use of AI is to detect and predict user preferences. AI can study your customer’s browsing and buying patterns. It can then make intelligent recommendations of similar products that they might also be interested in. It helps keep customers in the store longer and find what they need on your site.

Final Thoughts

Trends in the eCommerce field continue to grow by the day, month, and year. More eCommerce trends than ever are springing up. With the advent of more technology, there are plenty of opportunities for online businesses to gain an edge over the crowd by hopping onto the forecasted trends right away. This allows them to deliver customer-centered experiences and demonstrate that they are at the cutting edge in their industry.

The post Future-Proof: Expected eCommerce Trends for 2022 appeared first on SmallBizTechnology.

Landing a corporate customer offers a ton of revenue security. Large enterprises are more financially stable than small or midsize businesses. They’re also likely to buy your most elite product or subscribe to your most expensive pricing tier. At the same time, cross-selling to other silos within their organization also becomes a possibility.

Make no mistake, all of these will transform your business. It will benefit your cash flow, your growth prospects, and your ability to attract other high-value customers.

In this article, we’ll take a look at ways you can remove common obstacles many businesses face as they pursue their first enterprise client.

1. To Win an Enterprise Client…Know Their Business

First thing’s first. You must understand your prospect’s business or your pitch has no chance of success. And I’m not talking about just being familiar with their history, their marketing material, and their roadmap.

If you want to show how you’re going to be valuable to an enterprise, you need to have remarkable insight into their operations and strategy. You need to know the objectives that drive them. You need to demonstrate that you understand the mechanisms required to get them there.

Fortunately, publicly traded companies always have highly detailed information available via their investor relations (IR) departments.

Another approach would be to Google the company’s name and look at their News results. Big business makes big news, so there’s likely going to be a wealth of up-to-date information on your prospect.

2. Understand and Articulate How You Can Add Value

Once talks with your prospect start picking up momentum and you get face time with decision-makers, the conversation should not be about you and what your company offers. This is not the time to go through a rehearsed sales pitch where you quote figures and cite case studies.

Yes, there’s a time for this spiel, but once you’re sitting in front of someone working in procurement, that time has gone.

The deeper you get into discussions, the more you need to steer the topic of the conversation toward the specifics of how your product or service will benefit them. At this point, they don’t care that you reduced administrative overhead costs by 15% for one of your other clients.

What they want to know, whether they’ll say this to you or not, is: 

• How can you make our lives easier?
• What will you do to you make us more profitable?
• How will you protect us from the risks that are unique to our industry?

In short, you have to speak their company’s language. To do this, you need to have insight into their world. You’ll also need remarkable knowledge of your product’s capacity to make it better.

Practice these conversations. Meet with your colleagues and other industry specialists. Be ready to preempt every single question they may throw at you. Have smart, insightful, non-generic answers prepared for them.

3. Fine-Tune Your Company Image

Involve a branding specialist to ensure that your company’s public-facing presence is up to standard. This process typically involves a thorough audit of everything “out there” that could shape the public’s perception of your company and its reputation.

There’s a lot to this. There are websites, social media accounts, news mentions, press releases, the tone and content of your blog, even the online profiles of your management team.

In some cases, it might be worth the effort to start positioning your CEO as a thought-leader in your industry. 

Yes, this could take a while. However, the positive reputational impact of speaking at a conference or taking part in a round-table discussion with other experts can be huge.

Even simply building a solid, thought-provoking presence on Twitter will sometimes be enough to make your prospects take your brand a little more seriously. Make no mistake, your company’s leadership will be Googled.

4. Be Prepared for Serious Scrutiny from an Enterprise Client

Large organizations are extremely cautious when integrating their systems with an external party. Corporate governance often dictates that an absurd amount of auditing has to happen before a deal with a vendor is finalized.

This is most keenly visible in the digital security arena. If your company offers a solution that needs to be integrated with your prospect’s technical environment, be prepared to be placed under a very powerful, very intimidating microscope. Onboarding a new technology vendor is a lengthy process that typically kicks off with something called an Enterprise Security Questionnaire.

Don’t be fooled by the term. This is no one-pager with Yes/No answers. Your commitment to cybersecurity will face a level of scrutiny you may not be ready for.

Experts in cybersecurity cite this as the number one reason new customers contact them. Any potential enterprise client will assess your technical environment and, often, a small business is simply not ready for this.

It’s often a good idea to involve a consultant even before the questionnaire hits your CTO’s desk. As negotiations start heading into the closing phases, be proactive. Hop on the phone with a company that knows the questions enterprise clients are going to ask.

5. Understand the Impact a Long Sales Cycle Will Have

This is a biggie. Be prepared for many of your resources to be tied up in negotiations that can go on longer than expected. Much, much longer.

A long sales cycle will affect every company differently. It’s not always possible to preempt how this will impact other areas of your operations. The best approach is to stay aware of the risk and to never base any predictions on having the deal finalized by a specific date.

Also, tread carefully if your company somehow becomes dependent on closing the deal with an enterprise prospect. It’s understandable that this could happen. If it does, do whatever you can to avoid letting your prospect finding out. Desperation is not a good look in the business world. What this scenario says about your company’s ability to plan (amongst other things) isn’t great.

Signing Your First Enterprise-Level Client Will Require Patience

The sales cycle for landing a big fish is lengthy. Things move slowly at big corporations for a variety of reasons that can be both understandable and infuriating.

The truth is that large organizations are immensely risk-averse. They take new partnerships incredibly seriously as accountability is a big deal for them. As a result, the tactics we talk about in this article represent a lot of effort on your part. Get comfortable with this.

To create the optics you need to be taken seriously could take months, if not a year. You might have to make some challenging internal changes to align your operations with your prospect’s regulatory needs.

This is the price smaller businesses have to pay as they start wading toward the deep end of the corporate swimming pool. Know what the sacrifices are and be prepared to make them.

Fortunately, the benefits of succeeding in your pursuit of an enterprise client are immense. There’s no doubt about that.

The post How to Win an Enterprise Client to Transform Your Small Business appeared first on SmallBizTechnology.

Instagram is primarily a photo-sharing platform packed with features that help businesses sell their products. According to statistics, more than 72% of users purchased a product they saw on Instagram. With the right marketing strategy, any size brand can increase its reach, find new customers, promote products, and generate more sales.

Whether you want to grow followers for your eCommerce brand or earn more clients for another company, there are several Instagram marketing tools that help you promote your products or services and generate more conversions. Here are 11 top picks.

Increase Your Reach With These Instagram Marketing Tools

Awario

Awario is a brand monitoring and social listening tool that serves up instantaneous brand mentions from the web and social media. It helps your company reach new audiences, create relevant content related to your product or service, and participate in discussions. With Awario, you can better understand your prospective customers and create results-oriented Instagram marketing campaigns.

Awario acts as a great Instagram marketing tool for small and mid-size companies to connect with their target audience. It helps you discover prospective customers by allowing you to provide immediate solutions to their problems. Awario also enables you to find industry influencers and develop beneficial relationships to market your products. You can identify industry trends, perform hashtag research, and delve into competitor analysis to create more engaging Instagram content.

Iconosquare

Iconosquare is a social media analytics tool that helps businesses make well-informed and data-backed decisions for Instagram. It helps you increase Instagram engagement by visualizing the important metrics and improving your content marketing strategy.

Iconosquare includes many useful features such as the best time to post, geolocation, user targeting, user tagging, and more. These features help you post content automatically and reach the right audience at the right time. You can also schedule your comment along with hashtags to increase engagement and reach. Iconosquare helps you keep a close eye on your competitors and share your performance report with your social media team.

Sked Social

Sked Social is a great tool for brands, enabling marketers to plan visually engaging posts for an Instagram feed. You create posts for your Instagram feed in advance and see how your feed will look. It lets you automatically publish posts to Instagram, Facebook, Twitter, and LinkedIn. You can schedule Instagram posts along with relevant hashtags, location tags, and product tags to boost engagement and generate more sales. You can even schedule user-generated content.

Later

Later is an Instagram platform that helps marketers visually plan their posts. The tool allows you to automatically publish content and get useful insights to connect to the right audience. With Later, you can create a visually appealing feed for your Instagram audience using a drag-and-drop interface. Later helps you select the best time to post and also allows marketers to find on-brand content to create more engagement. Its in-depth analytics enable you to track exactly which posts are driving traffic and where your followers are converting.

Agorapulse

Agorapulse is a social media management tool that helps marketers stay organized. From publishing posts to reporting, social monitoring to getting insightful analytics, and team collaboration, Agorapulse is packed with useful tools. You can plan your Instagram feed in advance, giving you the freedom to create better strategies for your business and reach more clients.

Kicksta

Kicksta is a powerful Instagram growth tool that uses artificial intelligence technology to acquire authentic, organic followers. With this tool, you can find your competitors, industry influencers, and complementary brands. Kicksta lets you engage followers who follow profiles similar to yours. It will help you engage with a similar audience and increase the chances that they will follow you back. As a result, Kicksta helps you improve brand awareness and boost your follower growth.

Gleam

Gleam is a powerful tool designed for running Instagram giveaways and contests. It assists you in running campaigns that boost your audience engagement and business growth effortlessly. You can run hassle-free campaigns with features such as automatic entry validation and random or manual winner selection. Gleam also allows you to embed their mobile-friendly widget onto any webpage or create your contest on their free hosted landing pages. With Gleam, you can collect photo and video submissions from Instagram through hashtags, mentions, or manual selection. Additionally, Gleam integrates with all the email marketing tools and social networks you use. With its flexible design, you can drag and drop any of the supported actions into your campaign within seconds.

Picodash

Picodash is an Instagram marketing tool that helps marketers find the right audience and industry influencers for their brand. It provides useful data and helpful analytics to create your social media marketing strategy and outreach more efficiently. Picodash allows you to export your Instagram followers to a spreadsheet to filter for influencers by checking their followers and searching for relevant keywords. You can also filter users based on likes and comments received to find the right audience for your brand.

Hopper

Hopper is a scheduling tool that helps brands plan content for Instagram and drives maximum user engagement. With Hopper, you can create up to 50 posts and upload them with its bulk upload feature. You can then choose your favorite time to publish posts. Hopper’s planning and analytics feature allows you to drag-and-drop posts and create social media calendars. It also enables Instagram video scheduling with Hopper HQ.

Smartly.io

Smartly.io is an Instagram marketing tool that automates social advertising to improve audience reach. It combines media buying and creative automation to help brands succeed. The automation tools and templates help you develop creative copies, plan localized offers, and make different prize and copy variations. Smartly.io allows you to instantly publish ads on your Instagram account and update ads in real-time. It optimizes your targeting, budget, and bidding to make sure you achieve the maximum conversion rate.

Grum

Grum is an Instagram marketing tool that helps marketers schedule posts to automatically go live at the preferred time on multiple Instagram accounts. You can schedule video posts with Grum. One of the best parts about using Grum is that it allows you to upload content from your desktop, ultimately eliminating the need to use your phone to post content to Instagram.

Wordswag

Wordswag is an Instagram marketing tool that allows you to add captions to your posts. Its smart typing engine lets you create custom text layouts for Instagram posts. You can choose from hundreds of quotes, thoughts, and funny text to make your posts more creative and interactive. Wordswag helps Instagrammers create interesting content for their audience. In due time, this increases engagement and creates brand awareness.

All kinds of businesses, ranging from eCommerce brands to media, mobile app development companies to design agencies, healthcare organizations to travel businesses, are harnessing the power of Instagram. Whether your business is working to increase its reach, find new customers, promote products, or generate more sales, it’s the right time to use one or more of these tools to better promote your brand.

The post Top Instagram Marketing Tools to Supercharge Brand Growth appeared first on SmallBizTechnology.

• How often do you struggle to find new leads for your business?
• Are you struggling to convert leads into prospects?
• Have you lost deals simply by not following up on time?

If you find yourself relating to these scenarios, your business badly needs to consider automation. It will help you communicate with clients, nurture relationships, and close more deals. All of this can be done without working 80 hours a week.

Sales automation includes software and tools that help you streamline and automate parts of your selling process. These can include contact management, sales performance analysis, and lead generation. Automation can help with a specific part of the sales process or the entire sales journey.

A few instances where sales automation might be useful include data entry, record creation, activity logging, communication, research, and lead management. Sales automation helps you eliminate repetitive, time-consuming tasks in your sales process. It frees your people up to focus on higher-value tasks such as closing a deal or making a sales pitch.

Here are five ways to boost revenue via sales automation.

1. Prioritize Leads Using a Lead-Scoring System

Every sales lead is not of equal value. Some customers might be interested in buying from you right away. Others may not be interested just yet. It makes sense to go after your most interested leads first to close more deals.

Qualifying each lead manually, or checking which leads may be interested and which ones are not, is time-consuming. A lead-scoring system helps you automate the process.

A system such as this assigns specific scores to each lead in your customer management system based on his/her actions. For instance, when the system recognizes that a lead has engaged with a piece of content, read an email, or interacted with your business in some other way, it assigns a specific number of points to that lead.

These points add up, allowing your sales team to know which leads are closest to purchasing. Leads with high scores or those that have completed certain tasks should be of utmost priority. Those that have been less involved can be pushed further down the list.

You can also place weight on different actions depending on how important they are. For example, a prospect who has engaged with your company at an in-person event should receive more points in comparison to a lead who has only opened an email. Below is an example of a lead-scoring system in action.

2. Sales Automation Outreach and Follow up Emails

Approximately 80% of sales require at least five follow-ups. Veteran sales reps know that follow-ups matter, but far too many give up. A shocking 44% of sales reps give up after the first rejection.

When you have dozens of conversations to manage, it’s difficult to keep up. It becomes easier to accept an initial rejection and move on. What’s more, manually sending follow-ups can also be inefficient. Sales reps might accidentally reach out to the wrong person, send the wrong message, or miss a follow-up entirely and lose a sale.

Email marketing tools can help automate email follow-ups and save a good chunk of your sales reps’ time. Through email marketing automation, you can put initial outreaches and follow-up messages on autopilot. You can also set specific guidelines to keep the sequence going, change, or end based on the response of your leads.

3. Automate Administrative Tasks

Apart from qualifying leads and sending emails, sales reps also have several administrative tasks to attend to on an everyday basis. Using sales productivity tools can help automate and simplify these tasks. Now your people can spend more time on high-value activities. Here are a few routine tasks that are prime targets for automation.

Data Entry

Approximately 55% of sales data entry was eliminated in 2020 via automation. A successful CRM system requires an organized collection of data on customers, prospects, accounts, deals, and other related sales activities. However, all of this information still has to be manually entered by your sales rep. By automating CRM data entries, you help save time and increase productivity.

Platforms like Freshworks offer an automatic call-logging feature. Your sales reps can crush their daily call quota without worrying about adding calls to the CRM.

Scheduling Meetings and Calls

Scheduling meetings takes time. You suggest a date and time. The prospect comes back suggesting an alternate date and time. By the time the meeting is scheduled, you’ve already lost a week. This delay disturbs the tempo of your prospect’s sales journey. They may begin to lose interest in your business. They might even end up connecting with your competitor while you’re wasting time trying to nail down a meeting.

This hassle can be eliminated by automating your appointments using a scheduling tool like Calendar. This scheduling tool helps you eliminate unnecessary communication just to get a call or meeting set up. Simply send a link with available time slots in your calendar so leads can choose their preferred slot. The tool automatically sends calendar invites to both parties as well as reminder emails before the scheduled time.

Online Signature Maker

Online signature tools make it easy for both parties to quickly sign important documents after closing a deal. This saves a great deal of time as you don’t have to upload a picture of signatures or have both parties sign a physical document. It also eliminates the time and expense of travel or employing couriers.

4. Use Sales Automation to Build a Lead List

You need a strong list of leads to close more sales. But searching all over the internet to find companies or individuals who may be interested in your offerings is no easy task.

Automating this lead list-building process spares you the hard work, giving you and your sales team a targeted list of people to reach out to.

To use an automated lead list-building tool, you’ll need to provide simple criteria such as location, industry, and job title. After that, you’ll be presented with a list of individuals matching those descriptions. For instance, a tool such as LinkedIn Sales Navigator can help you find quality sales leads from LinkedIn by adding specifications for leads you’re looking for.

Alternatively, you could buy a list of leads from platforms such as UpLead to supply your reps with prospects to contact.

5. Sales Automation Can Enhance Your Lead-Enrichment Process

For closing a high-quality sale, a lead’s job title and name probably won’t be enough. For making a real connection, you will need much more information including their industry and the reputation of their company. Just like all the other tasks we’ve covered, you could end up spending hours or even days trying to uncover insights about your leads and companies.

Lead enrichment tools use online data sources and help you extract information about your lead and the companies they work for. A quality tool will provide you with complete and accurate information about the individual you’re trying to connect with.

There are dozens of tools available in the market that gather lead enrichment data automatically and sync it with your CRM or other software. One such tool is Lead Boxer. With LeadBoxer, you can identify visitors to your website and then populate their profiles with contact information.

Don’t Allow Sales Automation to Eliminate the Personal Touch

Sales automation can be a boon for sales reps, but it still needs to be used with great care.  Mistakes such as using the wrong lead name or sending the wrong follow-up message may negatively affect your credibility.

You also need to make sure you’re not only relying on automation to close deals. While automation can help alleviate your workload and eliminate mundane tasks, you cannot automate building customer relationships. And you wouldn’t want to! Use the time you save via automation to build better relationships with prospects, make better pitches, and help customers see the value of your product.

The post Sales Automation: Five Pro Tips for Maximizing Your Reach appeared first on SmallBizTechnology.

This helps explain the growing reliance on outsourcing. In 2019, roughly a third of small businesses already outsourced some business function, and 52% were planning to do so. In 2021, the number of small businesses planning to outsource has shot up to 80%. 

Outsourcing is perfect for growing companies because it offers extreme flexibility, saves time, and allows you to work with top experts without the hefty price tag. Of course, you should never outsource anything related to your competitive advantage. (If it’s your stellar service that sets you apart, for instance, you would never want to outsource customer support.) 

But there are certain core functions that every company must handle — things like accounting, legal, marketing, and cybersecurity. Certain businesses may also need to deal with shipping and fulfillment or data entry — things that keep your business running but don’t impact your end product or service. 

According to Gregg Landers, director of growth management at CBIZ MHM, there are a few categories of tasks that are ripe for outsourcing: tasks that require a high degree of skill or specialized knowledge and highly repetitive tasks.

Here are four areas you should consider outsourcing to cut costs and see better results:

1. IT Training and Certification

If the pandemic taught us anything, it was the value of a highly competent IT department. With many teams still working remotely, you need to ensure that your IT person or team has the training they need. But trying to do that in-house is simply not cost-effective. According to a survey of learning development professionals, it takes an average of 132 hours to develop a single hour of online learning content. That’s more than three weeks’ worth of work!

This is why it’s better to invest in third-party training and certification programs. Outsourcing your group training to a company such as IBEX Business Experts reduces costs and ensures that your team is consistent and unified. You can choose instructor-led courses or virtual learning so individuals can work at their own pace.

2. Business Accounting

Any business that hopes to stay in business needs the help of a bookkeeper, accountant, or both. You need someone to keep your records up-to-date, track expenses, run payroll, file quarterly reports, and do your end-of-year taxes. Trying to manage all these tasks yourself is a recipe for disaster — or at least an audit. You may also want someone to do an in-depth analysis of your business or help you with financial planning, but that doesn’t mean you should hire a full-time CPA.

In the United States, the average base salary for an accountant is $54,127. That’s not counting bonuses, healthcare, and other costs that come with a salaried employee. Then there are the hidden costs of training and management for an in-house accountant. For most small businesses, it’s much more cost-effective to outsource this role. You can use software like Gusto for payroll and pay a licensed CPA to do your taxes, or you can work with an accounting firm to handle all these tasks.

3. Outbound Sales

If you’re trying to grow your business quickly, you’ll need to scale your sales team. The trouble is that it’s extremely difficult to develop a repeatable sales process, find the right talent, and train them to be effective team members. Hiring aggressively is also risky — especially in sales, which has the highest turnover rate of any sector. It can be devastating (both emotionally and financially) to invest weeks or months in training only to see those people leave.

A more sensible approach for many businesses is to outsource certain sales roles, such as outbound sales or business development. Outbound sales encompasses tactics like cold calling or emailing, attending trade shows, and selling door-to-door. Hiring a third-party company to do this for you will give you a steady influx of new leads while freeing up your in-house reps to do more high-value work. Because they know your company inside and out, they’re best suited to develop those relationships and close deals.

4. Marketing

Marketing is a broad term for a highly specialized and complex industry that changes each and every year. The type of marketing you should be investing in will depend on your business, your budget, and your target market. 

For instance, if you’re an online retailer, you may need to invest in pay-per-click ads, social media, influencer marketing, or all of the above. If you’re a service-based business with a long sales cycle, inbound marketing might be your focus. If you’re a mom-and-pop shop that only serves customers locally, you might focus your attention on search or on traditional media channels.

The kicker here is that your marketing tactics should change if you’re not seeing results. Hiring a full-time marketing person is risky because no marketer is an expert in everything. If you hired someone on the assumption that you’d be creating bus-bench ads and direct-mail pieces, that person is not likely to be as effective if you shift your budget to SEO and paid search. Unless you’re planning to build out an entire in-house marketing team, you’re nearly always better off hiring a firm that specializes in whatever tactics you’re pursuing.

As your business grows, it can be exciting to imagine what you could accomplish if you only had a team member dedicated to X. But outsourcing business functions that aren’t your core competency is almost always a better choice. It allows you to work with the top professionals in the industry — without paying their entire year’s salary. It also means you can invest in talent that can help you grow your business faster.

The post 4 Key Business Functions You Should Consider Outsourcing appeared first on SmallBizTechnology.

Indeed, unless you manage to nudge your leads towards making the final purchasing decision, it doesn’t matter how well you’ve been converting them before. 

Why is it so Hard to Get Bottom-Funnel Conversions?

The ones who’ve already signed up for your product — hand-raisers, your trial-period users, your last-stage leads — all of them comprise the bottom of your sales funnel, BOFU. These conversions should be a piece of cake. They’ve already travelled from the top of the sales funnel, which means they’ve shortlisted you. It shouldn’t be difficult to make the last final step towards a commitment, should it? Unfortunately, it’s the commitment that is the problem. 

Customers are always afraid of making a wrong choice, specially when they’re B2B customers with more than just their money at stake. They’ll keep looking for the best option available for them, fearing to settle for anything less than that. That’s why they’re such a challenge to deal with. Sales reps need to convince their BOFU leads that the search is over and the solution in front of them is the right one.

The Best Practices to Increase Your Bottom-Funnel Conversions

1. Don’t Dive Straight Into the Selling Process 

We get it. You’ve already been waiting for long enough for your leads to reach the bottom of the funnel, and you want them to make a purchase as soon as possible. But put yourself into their shoes. They’re on the verge of making an extremely responsible decision that will have an immense impact on their business. Hesitation is natural. They need to be 100% sure that the product they’re about to invest in is worthy before they wire the money. 

Fear of commitment is exactly the reason why it’s so challenging to get the BOFU leads to convert. As a B2B sales rep, it’s your job to do your homework and conduct thorough research on the leads at the funnel’s bottom. You need to know exactly who you’re trying to convert to succeed at doing it. The secret to selling isn’t so secret after all. You just need to be able to address your customer’s pain points and challenges. Find insights and context on needs and challenges they face at the moment to personalize your nurturing emails and demo call at max.

Certain pre-sales activities can drastically increase your chances of winning the deal. After a lead pops into your CRM system, qualify and inspect them to find out the things that can help you build your further communication around the potential buyer. Even before the first interaction with your BOFU lead, you need to learn as much about them as you can. Find out everything about their business workflows, current tech stack, team composition and other relevant details. 

Based on your findings, you can map out your customer success strategy and better prepare for the demo call. Knowing their current situation, problems they are dealing with and which other options they’re considering, helps you show them how your product can fit right into their processes and help to accelerate their growth. 

2. Start Small, Be Specific and Don’t Overwhelm Your Leads

Once you’re done with your research, you should know exactly what your BOFU leads are after. Make sure you put that knowledge to good use. Instead of trying to sell your product A to Z, focus on the features that fit your leads’ needs the most. 

Of course, it can be extremely tempting to present your product in all its glory straightaway. You want to brag about it to your potential customer because it will surely convince them to make an instant purchase. The problem is – it probably won’t. 

The difference between you and your lead is that you’ve spent ages working on your product. Thus, it’s easy for you to navigate through the endless list of its marvelous features. On the other hand, your lead is only now getting to know your product. Too much information can be overwhelming. When you talk too much, nothing stands out. Which is why you should only briefly mention your product’s main features, and focus on describing the functionality that is particularly relevant to the lead. 

Talk about how they can benefit from adopting your solution, explain its advantages, and save the rest for later.

3. Understand Your Prospect’s Real Concerns

I don’t know if we can afford your solution at the moment, sorry.

No matter how affordable your product is, you must have heard this phrase from your bottom of the funnel leads at least once. The product’s price is never an issue. The real issue is it not matching the product’s value. 

When your leads are 100% confident that your product will solve their problems and help their business prosper, they won’t care how much they have to pay for that. However, if they’re not, they’ll keep looking for excuses to postpone the purchase.

It’s essential to identify your potential customers’ real concerns regarding the offer and work through them, if you want to prompt bottom-funnel conversions. Instead of ignoring the concerns your leads voice, try to uncover the underlying problem and the reasons behind it. This way, you could negotiate more effectively.

Let’s go back to the initial example. Whenever a lead says they aren’t ready to make a purchase because the price is ‘too high’, they just don’t see the value in your product. Therefore, you need to find out what would help them to justify paying more and show them you can deliver on that. 

To convey your value proposition, you can try out the following tactics:

• Showing side-to-side comparisons of how using your product brings positive results (before and afters);
• Discussing implementation plans;
• Providing social proof from clients with similar use-cases. 

4. Make Sales Enablement Your Kingpin

If you want those bottom of the funnel leads to finally make a purchase, it’s absolutely essential for you to marry your marketing and sales departments. Creating proper sales enablements to support your selling points that will appeal to the potential buyers’ pain points and challenges will help you close the deal. 

There are lots of different types of content that you can create and promote to your potential customers. Just make sure that you personalize it well and target the right segments of BOFU leads. For instance, you could produce a unique and helpful blog post, presentation, or a YouTube video. Include some elements of pre-boarding to reflect on the issues your lead is dealing with at the moment. Alternatively, you could create an in-depth comparison of your product and your competitors’ products to highlight the value you offer to your customers. 

Finally, you could create and disseminate a case-study with a current client. The one that runs a business in the same industry, faced the same challenges and had the same pain points. In order to do that, though, you need to make sure that you use a CRM tool to track your interactions with different customers and effectively segment them into relevant categories. 

Just remember! When it comes to sales enablement materials, consistency of communication throughout the whole customer journey is your best friend. You need to eliminate the human factor out of the equation and make sure you don’t miss a single follow-up! The best way to do this is to automate the sales process by setting up a drip campaign. 

BOFU is only challenging when you don’t know how to approach it. Increasing the bottom-funnel conversions is easy when you have a clear plan of action:

• Learn everything there is to know about your lead’s pain points
• Identify and address their concerns
• Create added value to justify the price
• Strengthen your value proposition with social proof
• Convert through using sales enablements.

The post 4 Ways for B2B Sales Teams to Get More Bottom-Funnel Conversions appeared first on SmallBizTechnology.

Many businesses do not want non-essential workers to visit their sites, while other businesses had to work remotely, leaving their sites closed to field workers. As a result, workers in the field industry have had to find solutions to service clients and to communicate with them while ensuring everyone’s health and safety. 

How Remote Work Affected Field Service Workers

For many workers in the field service industry, this situation moved them to virtual consultations and assistance. Consequently, video technology became a game-changing tool for businesses to overcome the challenge the pandemic brought about for service delivery. Business are increasingly implementing remote consulting and assistance to overcome any obstacles traditional service delivery faces. 

With this new change, it has become very important to have a highly experienced and skilled consultant as part of the field service team. Especially, when it comes to highly specialized products, such as customer relationship management solutions. For this, it is essential to have a trained and knowledgeable Salesforce consultant on the team. 

The Role of a Salesforce Consultant in the Field Service Industry

Firstly, field services can be complex, and even more so if it is done remotely. So, choosing the right Salesforce Field Service (FSL) consultant for successful Salesforce implementation can be tricky. 

The role of a Salesforce consultant is important in proper customization and optimization of the Salesforce platform as per a client’s needs. They are known for developing innovative solutions and can analyze how future changes can affect a business. 

Before we delve into the role that such a consultant plays, let’s consider the attributes the right candidate should have:

• Excellent experience in the CRM implementation industry 
• Experience in the functional areas of development
• Consultant personality that fits with the internal team
• Strong work ethic and self-motivated
• Strong communication skills 

Now, let’s delve into the role a Salesforce consultant should play in a business’ operations to ensure success. 

• Designing, implementing and maintaining databases

The main role of a consultant is to ensure that the business maintains its relationship with its clients. Therefore, a consultant will design, implement and maintain a business’ databases to effectively link the business with its customers. This process requires careful consideration and research to ensure the most effective outcomes. 

• Assisting with strategic decision making

For any business to scale, it has to make the right decisions to take on changes in the CRM system. A skilled consultant will collaborate with a team at the strategic level. They will design implementation procedures that perfectly fit your business needs.

• Creating and managing project plans

The Salesforce consultant will ensure great attention and consideration is given to the scope of the CRM project. This includes developing a project timeline and regularly communicating developments to stakeholders.

• Deploying and training 

A Salesforce implementation consultant also has the responsibility to assist with the deployment of the CRM project in the most productive way. After this phase, the consultant will provide effective training to clients to ensure they know how it functions. 

• Managing critical issues

A Salesforce functional consultant also assists with the managing of all the critical issues affecting the functioning of any business.

So, with a skilled Salesforce certified consultant leading a team, a business can achieve much success with new product implementation. However, with the many changes in the field services industry recently, it is also vital for businesses to consider how digital technologies will shape the industry in 2021. 

Five Ways Digital Technologies Will Change the Field Service Industry in 2021

Recently, the business world has changed significantly, thanks to the development of new technologies. This has also led to a major focus on customer experience, as consumers are constantly looking for more efficient and effective experiences. Fortunately, new and innovative digital technologies are consistently being developed. These innovations can help businesses to better understand and communicate with their target market to ensure better customer service. Let’s take a look at five ways digital technologies will shape the field services industry in the coming year.

1. Virtual Reality (VR)

With the focus on remote work, VR technology can assist teams to showcase new products to clients in a very realistic way. Additionally, training programs can also use VR technology, so workers can gain experience in a real-life environment. The health, aviation and education sectors are already using this technology for training purposes. 

2. Artificial Intelligence (AI)

Studies show that 54% of businesses report that their adoption of AI has boosted productivity. AI technology uses historical data to compare current behavior with past trends. Furthermore, predictive maintenance purposes can also use these types of assessments. With this, teams will be able to predict when their next scheduled appointment for field service will be. 

3. IoT technology

IoT uses a network to connect devices or objects. When teams correctly implement IoT, they can remotely access clients’ systems. 

4. Machine learning (ML) 

ML is a method used for data analysis that can automate analytical model building. Teams can use it to compile data, organize information and report trends. ML is ideal for making important decisions with minimal human intervention. 

5. Cloud services 

Cloud services offer improved productivity through its quick, multi-device self-service experience. Studies show that 90% of businesses already use some sort of cloud service. Teams can work remotely alongside clients by having access to important data. 

Digital technology transformation is fast reshaping the way the field service industry operates. And all of these are highly beneficial for both field service teams, consultants and clients. 

The Field Service Industry in 2021: Looking Ahead

Undoubtedly, the worldwide pandemic has had a major impact on all tech industries, including the field service sector. However, many companies in this industry have found clever ways to service clients. 

Altogether, with the help of a strong team and an experienced consultant, a business can reap the benefits of using field services both now and in the future. The consultant should have the right skills and knowledge to lead a team, to communicate effectively and to design and implement a CRM project successfully. 

The post 5 Ways Digital Technologies Will Change the Field Service Industry appeared first on SmallBizTechnology.

Until now, most companies have only relied on automation for sales and marketing. Automatic sales and marketing campaigns free up a lot of time and resources for content creation and other internal departments.

With that said, automation can do so much for your business. Just take a look at this list:

Integrations

In the digital age, your business likely uses a number of programs and online tools, not to mention the list of automation that you might be implementing soon after reading this. Wouldn’t it be great if all of those tools were built into one? While there’s no one-tool-fits-all, you can use automation to put your programs in better sync together.

Companies can use an iPaaS, or Integration Platform as a Service, to build integrations between their programs. For example, you can set up your team’s communication software to automatically upload shared files and images to your email. 

Simple steps like these save a lot of time in the long run, and can be completely customized to fit your company’s needs. Start with a few integrations and then build up as you get the hang of the process. The more tasks that can be automated, the more focus that can be diverted to larger and more complicated projects.

Payments

Humans have to keep track of a lot of bills, payments, and card information. Miss a payment because of the complicated mess of finances, and an unfortunate penalty will ensue. Automation not only makes it easier for businesses to receive payments, but for customers to keep their finances in check.

Automated payment software takes recurring payments as they are due. This is helpful for companies that work off of subscriptions, or those that provide monthly services, such as utilities for house cleaning. As long as there are sufficient funds in the account for withdrawal, the process is as simple as can be for both parties. 

More complicated payments can be automated as well. A company that uses contracts to bind sales can use digital signatures to automatically gather commitments from customers online. Set up an entire sales system this way, and deals can be signed, sealed, and delivered in no time. 

Hiring and Recruiting

The recruiting process is long and expensive. Choosing a candidate from a pool of hundreds is a daunting undertaking. Luckily for HR managers and recruiters, automation can improve this process as well.

Algorithms can scan resumes, picking out keywords, alma maters, and work history in seconds. This organizes candidates quickly and effectively, allowing recruiters to narrow down their selections as soon as resumes are submitted.

The one drawback to automatic resume scanning is that some programs rely too heavily on keywords. You could overlook an incredible candidate who simply doesn’t have the experience of your other applicants — but does have the soft skills needed to develop quickly and remain loyal to the organization. With this automation, be sure to give outputs a second glance.

Analytics

If your business isn’t incorporating data into its strategy, you’re already a step behind the competition. Data is gold in today’s business landscape, providing insights that can transform your organization into an efficiency powerhouse.

The amount of data your business produces each day is astounding. In fact, it’s practically impossible to scour through it by hand and pick out anything you can use. To take advantage of your data, you need automated tools.

Automations such as ETL tools extract data automatically. They use triggers to transform and load the information into storage systems for your viewing pleasure. Use this data to define target audiences, tweak supply chains, and even alter product prices.

Customer Service

Seventy percent of customers will stop doing business with a company due to a poor service experience. With that in mind, your customer service strategy should be important to you. The better you care for your customers, the higher your retention rates and the more referrals you’ll get.

Some large corporations run an entire office of customer service agents who field calls and messages all day. Small businesses typically can’t afford that. They can only answer questions in person or when someone is available to respond.

For companies large and small, automation can bridge the gap. Setting up a customer service bot on your website is simple. This bot can answer frequently asked questions and direct customers to the products and pages they’re looking for. This simple addition will boost your customer service around the clock.

Data Security

Bank robberies are so 1800s. Today, you need to be on the lookout for hackers and pirates that try to attack you from the inside. Digital information is extremely valuable and much easier to swipe.

Even with a dedicated IT team, your security posture could benefit from any help it can get. Automations like firewalls thwart attacks around the clock. Breach notifications can point out problems the moment they occur. 

Are you sold on automation yet? Give it a try. Start with iPaas to streamline your workflow. Then, try out automations that can revamp your strategy and security. You won’t be sorry.

The post 6 Areas Besides Sales and Marketing Where Automation Wins appeared first on SmallBizTechnology.

To be sure, you don’t have to rise to the fame of a Mary Kay Ash or Zig Ziglar to be a sales phenom. Plenty of salespeople across the world land tons of deals, build loyal connections with customers, and solve buyers’ biggest conundrums. You may not know their names, but that doesn’t mean they’re any less successful. 

Here’s the dirty little secret, though: The majority of sales folks aren’t utilizing all the tech at their fingertips. As a result, statistics culled by Forbes suggest that most sales experts sell only 35.2% of the time. The rest of the time, they’re pushing papers, engaged in redundant activities, and not bringing in revenue. 

The bottom line is that even the most prolific seller probably has room for improvement. And there’s no shame in wanting to get better. So why not embrace the technology that can help you rev up your conversations? Or reduce the risk of being ghosted by a top prospect?

Below are four tech stack must-tries to impress your boss and win over resistant buyers.

1. Close deals seamlessly with virtual proposals.

Remember the days of sending your client a proposal, waiting for the client to make adjustments, and going through the process ad infinitum? (Those days might have been as recently as this week, to be honest.) Every time you make your prospect jump through a hoop, no matter how minuscule, you risk losing momentum.

What’s the way to close this gap for good? Leverage proposal and contract processes that automate the system on one platform. PandaDoc, an all-in-one document automation software, notes that requesting proposals the old-fashioned way needlessly extends your close rate. In other words, you waste precious days and weeks trying to get the final go-ahead. Plus, once you’ve built a proposal on paper, how easy is it to change on the fly? In most cases, it’s not easy at all.

The way to fix this issue is to find a software-as-a-service (SaaS) provider like PandaDoc that offers the ability to manage your proposals and eventual contracts in one location. Having documents available to everyone who needs to know—and make changes effortlessly—transforms the proposal experience. It also shortens the sales cycle by reducing buyer barriers to acceptance.

2. Add robust templates to your tech stack.

Have you ever found yourself writing the same email again and again? Sure, you might change a word or two here and there. But the gist and tone remain similar. These are documents and correspondence that you could automate with software.

What’s the value of having dozens of templates? With the right system, you can deploy your templates quickly across omni-channels. Have a prospect who prefers text? No problem. Your template can be revamped to look great on a phone. Dealing with someone who’s a social media user? Send DMs and get noticed.

Not sure you want to invest in more tech software? Even if you just keep a catalog of templates on your centralized knowledge system, you’ll be ahead of the game. As a side note, you don’t have to lose the individual touch. In fact, you should focus on personalization because it’s what 80% of participants in an Epsilon buyer study said they want. Templates can be constructed with “holes.” Fill those “holes” with customized messages and foster connections without losing precious hours re-typing content.

3. Invest in a truly modern customer relationship management (CRM) system.

Why do so many salespeople rave about CRMs like HubSpot and Salesforce? The companies have made it their business to lead the CRM industry. They’re continuously adding new solutions to their platforms, including AI-driven tools.

Feel as if your outdated legacy CRM gets the job done? That may be true. However, it’s worth investigating state-of-the-art CRMs. Sure, it’s understandable to want to hold onto your CRM because you know it. No one likes change. Still, it might not be the right answer anymore.

Newer CRM platforms aren’t just clearinghouses to hold prospect and client information, either. The top ones allow you to analyze customer behaviors, set up regular messaging based on where a customer is in the sales funnel, and perhaps listen socially. Unless you’re 100% sure you have a CRM that truly links your organization’s marketing, communications, service, and sales teams, you’d be wise to investigate what’s on the market.

4. Increase your sales prospecting IQ.

The more intelligent your sales prospecting, the less arduous it is to uncover truly qualified potential clients. AI has helped sales technology become savvier, moving way beyond just grabbing prospects’ personal and business information from the web.

How does sales intelligence work when buoyed by technology like AI and machine learning? For one, sales software can crawl the Internet, looking for potential prospects based on your company’s past purchases and historical information. The software can then deliver target personas to specific sales team members. Even if the sales team has to evaluate the information by hand, everyone will save time.

Sales prospecting software can also help you scrub and update information, much of which will be outdated in about a year’s time. Remember: These are processes you would have to do yourself or ask someone else to do on your behalf. If a program can do it just as well, why not let it?

Prospect.io even suggests that sales prospecting should include a deep dive into data about the sales that turned you down. This way you can get a better understanding of why, and what to do better next time. 

Sales will always be about relationships, and tech can help you finally have the time to build connections. So why wait? Stop spinning your wheels and start generating long-term ties.

The post 4 Types of Sales Tech You Shouldn’t Sleep On appeared first on SmallBizTechnology.

1. Focus on your people — all of them.

Do you have a sales superstar who brings in the numbers but doesn’t get along with the team? If so, your reliance on that person could end up costing you more than a headache.

Research published by Harvard Business School found that results achieved by toxic employees don’t offset their negative behavior, even when the toxic employee performs in the top percentile. Your company would sell more if you fired that toxic “best employee” and employed a team of average people who know how to work together.

The longer you let the bad dynamic go unchecked, the more trouble your team will have. “Behavior is contagious … we find that when a toxic person joins a team, others are more likely to behave in a toxic fashion,” says Dr. Michael Housman, co-author of the Harvard study. 

2. Show some love to the marketing team.

The sales team celebrates the final reward, but no sales department lasts long without marketers pulling in qualified leads. Align your sales and marketing teams more closely to ensure both sides do all they can to ensure mutual success.

Get your salespeople to talk to the marketing team about the questions prospects ask most frequently, then make sure the marketers deliver content that matches the need. Build a demand generation strategy that frees up your salespeople to spend more time closing and less time qualifying. When marketers and salespeople work in harmony, good things follow.

Better yet, make use of a sales coaching software to analyze effective strategies, identify areas that need improvement, and monitor progress weekly. This software uses artificial intelligence to listen to your best sales reps, learn from them, and imitate their behavior. You can think of it as a self-service training coach.

3. Appreciate your current customers more.

While nothing beats the thrill of earning a big new account, your current customers deserve love, too. Communicate more frequently with your existing clients to hear about their experiences with your products and find opportunities to upsell.

Even if you only offer one product, don’t sleep on the value of your customers as lead sources. A good relationship with a small customer could lead to a massive partnership with a new client down the road. You never know how social circles connect, but by treating everyone with respect, you can boost your word-of-mouth marketing and up your chances of earning new business.

4. Check out chatbots.

Chatbots allow prospects on your website to ask questions without the pressure of a human salesperson on the other line. Take advantage of this dynamic by using chatbots to qualify leads through your website and on social media. With a little robotic help, customers who were “just browsing” could end up speaking with a salesperson in a matter of hours.

“The decision to deploy virtual agents can be complex,” says P.V. Kannan, co-founder of AI company [24]7.ai. “Even so, we think this sort of conversational interface to companies is destined to displace the current app and web interfaces over the long term, simply because it’s faster and in many cases, better for the customer.”

5. Evaluate your products and markets.

Provide customers with options to deepen their engagement with your company before you lose momentum from your existing line of products. Your niche may be successful for now, but every niche grows more crowded over time. To maintain your position at the front of the market, you must either offer something new or offer the same value to a different group of people.

Look at your current buyer personas to find similar groups who might enjoy your products. Could someone else use your product for a different purpose? With a few small tweaks, you may discover an entirely new marketing opportunity. Regularly evaluate your best markets, and think about how you could provide more value to current and prospective fans.

6. Experiment with email.

Email is a double-edged sword for small companies. Yes, it might be your best lead source — but how many hours a week do you spend in your inbox? Try techniques like time-boxing to keep email from eating up your schedule, but also consider your copy. Could less formal emails take less time to write and boost conversions? 

“Change the length, change the focus, try sounding cheeky instead of polished,” suggests TJ Macke, who handles go-to-market strategy for sales enablement company Regie.io. Although Regie uses AI to recommend copy that’s likely to resonate with your audience, Macke makes it clear that there’s no substitute for manual experimentation.

The 2020s will be here before you know it, so don’t waste time on sales tactics that belong in the 2010s. Use this opportunity to evaluate your sales strategy and achieve your sales goals next year — and the years beyond.

The post 6 Essential Tips to Reach Your Sales Goals in 2020 appeared first on SmallBizTechnology.

According to the Brevet Group, 87% of customers believe salespeople don’t understand their needs. That’s why it’s critical to spend more time understanding the customer than educating them on your product or service. Most customers do their homework, anyway, and won’t even reach out until they’re ready to buy.

In today’s uber-competitive sales landscape, one wrong move can blow a sale. To help you close more deals, we’ve put together a list of three of the biggest sales mistakes.

  1. Not following up

A study by sales training company RAIN Group says it takes an average of eight contacts to get a meeting with a prospect. Every missed follow-up means you are handing sales to the competition.

The key to smart and effective follow-up are to be consistent and relevant.  Keeping up with prospects can be tough, and it is easy to let leads fall through the cracks, but fortunately technology can help. Email-based automation applications like Mixmax help sales teams stay on top of their prospects by using automation to enrich the customer experience, not degrade the customer experience. For example, you can create a series of emails that includes personalized videos and polls (which make it easy for prospects to respond), that make it easy for you to both automate your follow-up process and to personalize your message so you can stay on top of warm leads and make them feel important.

By creating email rules and sequences, email automation can do the bulk of the hard work. For example, you can create a series of emails for new customers that have never heard of your service. Over 3 or 4 short emails, directly state different ways your product helps them. Then, automate! The emails can be automatically sent every 5-7 days and can be automatically synced to your CRM. You can even create rules so if one of those contacts signs up for your services, the emails will automatically stop once the CRM is updated.  You can also pull in fields from your CRM that will populate as variables in your emails. For example you can use variables like first name, company, industry in your email.

  2. Being too pushy

While it’s true that following up is necessary, no one likes an aggressive sales person.

Once your customer understands what you have to offer, don’t keep pestering them to make a decision. It’s important to ask for the sale, but a better tactic is to stay in touch and offer valuable free resources.

When you’re dealing with high-dollar products and services, the sales cycle is longer and more people are involved in the decision. According to The Harvard Business Review, over six people are involved in B2B sales decisions. Account-based marketing strategies are a better approach here.

Here are some easy ways to provide value to your prospects through email:

• Send a whitepaper

• Invite the prospect to a free webinar (teach them to do something and spend less than five minutes asking for a sale)

• Provide a link to an article of interest

  3. Talking More Than Listening

A study of 25,537 B2B sales calls conducted by HubSpot revealed that reps that spend less than 40% of a call talking won more deals.

Naturally, you’re enthusiastic about what your company has to offer. But not every prospect is a fit. If you charge through a conversation without determining a prospect’s needs, you’ll blow the sale.

  Wrapping it Up

When you’re approaching a potential customer, it’s easy to lose focus on what’s important. Good salespeople understand it’s not about making your quota or the potential revenue you’ll bring to your company.

The easiest way to get a leg up on the competition is to treat each customer like they’re your only customer. Listen first and don’t make assumptions. Ask questions if their needs are unclear. Take the time to build genuine relationships and stop worrying about the sale.

Don’t underestimate the power of personal connection in a sales situation. The best salespeople understand the importance of placing people over profits.

The post 3 Common Mistakes That Lose The Sale appeared first on SmallBizTechnology.

If we’re aware of the importance of interacting with our customers over the phone to close those all-important deals, why did these studies find that 93 percent of companies don’t respond within the recommended 5 minutes, and 23 percent of companies don’t respond to their leads at all? Clearly, businesses are so slammed that getting back to customers and possible sales leads is proving impossible. And while many are making use of virtual phone systems, often their features aren’t actually that important in helping them make more sales.

Luckily, artificial intelligence can lessen the workload of sales teams and help them to become more efficient. In fact, 55 percent of telecom companies are already using AI. Here are the top ways integrating AI into your phone system can boost your sales performance.

Drive New Business from Call Data Insights

If you were to look into your company’s call data and try to interpret it, you may spend hours diving into the numbers. While reports can be helpful, without AI, there’s a slim chance you’re going to use it.

AI can notice trends from your phone calls and alert you of any opportunities for improvement. For example, the most common cities your calls are coming from could give you insights into potential new markets for your company. It can also pick up on how long it’s taking you to answer calls and alert you to slow response times, which could help you determine when to hire a salesperson who can follow up while you concentrate on your work.

AI can not only tell you what is your busiest time of day, but it can also recommend when you should stop working and return phone calls. And on top of this, it has the power to analyze call transcripts themselves to evaluate and offer suggestions for improvements how your sales team is pitching to leads.

No More Forgotten Leads

When your business receives a lot of calls, it can feel almost impossible to get back to every single one you missed. AI can recognize when you get over your head and suggest ways to increase the number of callbacks. It can alert you about phone calls, and send a reminder to call them back.

This feature is invaluable, especially since research has shown that companies that reach their leads within an hour are seven times more likely to have meaningful conversations with decision makers than those who waited more than 60 minutes. And the more people you get back to quickly, the more likely you are the make the sale and increase revenue.

For when calls don’t need your personal attention, AI bots can take much of this extra workload away. The bot can answer voicemails based on the content of the message transcript, and give information such as hours of operation and directions — so you don’t have to call them back.

AI can Grade You on your Overall Performance

So, you’re utilizing the insights and reminders you’re getting day to day, but what about the value of all of that data taken over an extended period? AI can compile it into a detailed profile, helping you to make sure you’re improving on your stats each month and calling sales leads and customers back quickly. Insights into when and where your calls are coming from mean you’ll be able to identify what marketing strategy is the right one and who are the most important customers to prioritize in order to increase customer retention.

It’s high time companies left behind flashy virtual phone systems that are oversaturated with features they don’t really need. The advent of AI in phone management systems has the power to revolutionize your sales process by giving you true insights into the strategy you should be adopting, and helping you keep up with more leads than would otherwise be possible.

Authored by:

Jay Reeder has more than 23 years of experience in the telecommunications industry. He began creating voicemail systems in high school, which led to his first job as a software developer creating voicemail technology. Within the first year, he had completely rewritten the company’s voicemail software platform and at the age of 20 was selected to lead voicemail development for telecommunications giant ITT.

In 1994 Reeder founded his first company, Revox, developing high-end voice platforms for telephone companies. This was followed by Atlanta Voicemail, VoicePlus, Buzzworks and ultimately VoiceNation, a live answering company that has been recognized by PC Magazine, Clutch, and others as an industry leader. His latest product, Ninja Number, is a virtual phone system that helps entrepreneurs increase revenue by improving their communication with customers.

The post How to Use AI To Triple the Efficiency of Your Sales Process appeared first on SmallBizTechnology.

However, many of these small business owners are overlooking critical technology tools that online retailers have been taking advantage of for years: analytics. So often entrepreneurs with physical storefronts and no online presence overlook the power of data and analytics, assuming that because they rely on foot traffic patronage, they don’t have access to shopper data that will inform and benefit their future sales. That’s not the case. In fact, brick-and-mortar retailers that use analytics are benefitting from several factors that give them an upper hand in this competitive environment.  

Brick-and-Mortar has the Edge in Sales and Spend

Contrary to common belief, our youngest group of consumers, Generation Z (or Gen-Z), is shopping in-store. Call it a penchant for instant gratification or a desire for an in-store “experience,” but these shoppers have $44 billion in buying power and most are spending in stores rather than online.

According to a study from IBM, 67 percent of Gen-Z shops in a brick-and-mortar store most of the time and an additional 31 percent shop in-store sometimes, meaning that 98 percent of Gen-Z are shopping in physical stores.

That’s a lot of revenue potential for brick-and-mortar stores, but only if they can turn Gen Z prospects into customers and, more importantly, into repeat customers. This generation is known for being made up of “digital natives,” and they are creating data every time they connect to wifi or sign up for your email lists. They may not be your business’ target demographic yet, but they will be someday. Collecting data from your customers and leveraging it to effectively target and serve shoppers can help retail stores capitalize on the active customers they already have.

Not only are shoppers still drawn into stores, they are actually spending more when they shop in-person. Consumers spend an average of $1,700 per month in traditional stores, compared to just $247 per month online, according to the International Council of Shopping Centers.

With sales and spend on their side, brick-and-mortar shops have an opportunity to captivate market share by targeting one-time shoppers with special offers, news and more, simply by collecting contact information or recording purchase histories.

Harnessing Technology to Close the Sale in-Store

While brick-and-mortar shops may find it challenging to compete with the inventory flexibility, low cost margins and single-click ordering convenience offered by Amazon, they can use shoppers’ reliance on technology to get customers in their door.

A survey by mobile loyalty company SessionM found that 90 percent of consumers use their phone while shopping in-store, giving traditional retailers the opportunity to incentivize purchases while customers shop, just like online retailers can. This offers brick-and-mortar businesses a unique opportunity to share promotions and suggestions in real time, which, in turn, helps to provide the personalization customers expect and ultimately drive sales.

It’s clear that implementing analytics can help brick-and-mortar shops improve audience engagement and boost sales, but many retailers aren’t sure how to start. Here are a few quick and easy ways traditional retailers can begin using analytics to help improve their businesses. Remember to check state and federal laws with regard to the collection and use of data and information:

• In-store Wi-Fi: setting up a network in your store may allow you to begin collecting information from your shoppers, like email addresses, dates visited, time spent in your store and more.  
• Location data: Being tuned into who is visiting your store and who is visiting your competitors can be a critical measure of your current market share and potential market share.

Contact Information: Make sure you are collecting contact information from your customers when appropriate, so you can maintain contact with them, offering personalized “in-store only” offers and driving repeat transactions.

Authored by:

Amber Colley, Business Credit Expert and Senior Vice President, Dun & Bradstreet

The post Using Brick-and-Mortar Analytics to Compete with Amazon appeared first on SmallBizTechnology.

• • Brent Leary, Master Analyst of CRM Essentials,  
  • Rieva Lesonsky, from SmallBiz Daily,
  • Laurie McCabe, co-founder at SMB Group, and Tech-analyst at Laurie McCabe, as well as,
  • Anita Campbell, publisher of Small Business Trends CEO of bizsugar.com.
    

The Path to Small Business Growth

Ramon kicked off the conversation with a key takeaway from a speech from Zoho’s CEO, Sridhar Vembu: Lot of start-ups want to go big, be the next Facebook, Google, etc. But, it’s essential to make sure you:

“Don’t forget the people who made you what you are, and make sure that you always take care of them as well as serving your new customers.”

And what do you say to people who are saying to the start-ups who are like, ‘I need outside VC. I want go big, I want to go large. How do I fund my operations if I don’t have public money? Jeff Bezos did it, why can’t I do it?’  

Anita Campbell believes in,“the power of a long-term vision. Having it and sticking with it, and not second guessing yourself. “

Higher Education & How It’s Changing

What’s more important: going to a 4 year university or learning a specific skill to get into the workforce sooner? As mentioned in a previous article, Zoho employees are no strangers to these topics – Zoho houses its’ own University, dubbed, “The Meaningful Alternative to Conventional College Education.” “Earn while you Learn”, is the middle ground that many post high school age kids have been yearning for. Zoho University prepares its’ students for the real world by teaching skills  like other tuition centre that hiring managers find attractive and companies need more of. Plus, students don’t pay any tuition – instead, they receive a stipend and after successful completion of their program, are inducted as an employee into the Zoho Corporation.

In American Society the assumption is usually that it’s necessary to go to a 4-year college to get a worthwhile job. But, is it necessary?

Reiva agreed that people have more options now and can enter the workforce with less debt, due to some of the new options available, especially since it’s not a one size fits all system.

She gave a nod to education in general, saying, “That’s the tea: You need to learn the skills.”

The panel all agreed from their personal experience as past students, and current business owners, that education should help students learn skills to bring into the workforce, making them more attractive to future employers.

Small Business Technology and Finding the Best Solutions

Brent gave us some insight into smaller businesses and their relationship with technology. He explained that there are a lot of smaller applications built specifically for small businesses. But, most of the applications do ONE thing well. Then, you end up needing a number of different applications from different vendors to get everything done. Having so many applications “…adds a layer of complexity. It makes it harder to get things done, it takes longer to get things done.”

Brent explains:

When you have the opportunity to have a platform that has a lot of functions, you don’t have to keep going in and out multiple applications building integration. It makes it easier for you to get the stuff done so that’s where […] the power is. And that is a big thing for a small business.

Words of Advice to Small Business Owners

With 1 month of 2019 already gone,what should small business owners know: Rieva’s advice to small businesses is that “you just need to pay attention.  Are you a local business? Then pay attention in your local market. What do people want? What doesn’t exist? And can you fill that niche if you’re a start-up?

Rieva Lesonsky also went to the idea of a business plan, and how to look at it so it can work better for your business.  

“What can I do today to make my business better tomorrow? Think of it like that. And just come up with some action steps that you can do now that don’t freak you out, and then do them. Don’t think about it, don’t stress about it, just actually do them.”

What are 2-3 things that can help a small business, TODAY?

Brent’s advice was focused around your business website and how to easily improve it. He explains,

“Get a tool and do an audit of your website. So there are lots of tools out there, SEMrush is one of them, but there are other ones you can use. And they’re very easy, they’ll do it automated for you. They’ll tell you what you need to fix. And every website needs to fix things.”

Another common business issue? Working on the business instead of it in. Brent Leary explains,

“If you have to think about your business, don’t bury yourself in the details. You’ll get further ahead if you spend that equivalent time thinking about your business and some goal you’ve made. “

Like Rieva said, take action today.

Didn’t catch this Facebook Live? Make sure to follow them on Facebook and set your calendar for the next one.

The post Small Business Growth Advice From Small Biz Owners appeared first on SmallBizTechnology.

If we’re aware of the importance of interacting with our customers over the phone to close those all-important deals, why did these studies find that 93 percent of companies don’t respond within the recommended 5 minutes, and 23 percent of companies don’t respond to their leads at all? Clearly, businesses are so slammed that getting back to customers and possible sales leads is proving impossible. And while many are making use of virtual phone systems, often their features aren’t actually that important in helping them make more sales.

Luckily, artificial intelligence can lessen the workload of sales teams and help them to become more efficient. In fact, 55 percent of telecom companies are already using AI. Here are the top ways integrating AI into your phone system can boost your sales performance.

Drive New Business from Call Data Insights

If you were to look into your company’s call data and try to interpret it, you may spend hours diving into the numbers. While reports can be helpful, without AI, there’s a slim chance you’re going to use it.

AI can notice trends from your phone calls and alert you of any opportunities for improvement. For example, the most common cities your calls are coming from could give you insights into potential new markets for your company. It can also pick up on how long it’s taking you to answer calls and alert you to slow response times, which could help you determine when to hire a salesperson who can follow up while you concentrate on your work.

AI can not only tell you what is your busiest time of day, but it can also recommend when you should stop working and return phone calls. And on top of this, it has the power to analyze call transcripts themselves to evaluate and offer suggestions for improvements how your sales team is pitching to leads.

No More Forgotten Leads

When your business receives a lot of calls, it can feel almost impossible to get back to every single one you missed. AI can recognize when you get over your head and suggest ways to increase the number of callbacks. It can alert you about phone calls, and send a reminder to call them back.

This feature is invaluable, especially since research has shown that companies that reach their leads within an hour are seven times more likely to have meaningful conversations with decision makers than those who waited more than 60 minutes. And the more people you get back to quickly, the more likely you are the make the sale and increase revenue.

For when calls don’t need your personal attention, AI bots can take much of this extra workload away. The bot can answer voicemails based on the content of the message transcript, and give information such as hours of operation and directions — so you don’t have to call them back.

AI Can Grade You on Your Overall Performance

So, you’re utilizing the insights and reminders you’re getting day to day, but what about the value of all of that data taken over an extended period? AI can compile it into a detailed profile, helping you to make sure you’re improving on your stats each month and calling sales leads and customers back quickly. Insights into when and where your calls are coming from mean you’ll be able to identify what marketing strategy is the right one and who are the most important customers to prioritize in order to increase customer retention.

It’s high time companies left behind flashy virtual phone systems that are oversaturated with features they don’t really need. The advent of AI in phone management systems has the power to revolutionize your sales process by giving you true insights into the strategy you should be adopting, and helping you keep up with more leads than would otherwise be possible.

Authored by:

Jay Reeder has more than 23 years of experience in the telecommunications industry. He began creating voicemail systems in high school, which led to his first job as a software developer creating voicemail technology. Within the first year, he had completely rewritten the company’s voicemail software platform and at the age of 20 was selected to lead voicemail development for telecommunications giant ITT.

In 1994 Reeder founded his first company, Revox, developing high-end voice platforms for telephone companies. This was followed by Atlanta Voicemail, VoicePlus, Buzzworks and ultimately VoiceNation, a live answering company that has been recognized by PC Magazine, Clutch, and others as an industry leader. His latest product, Ninja Number, is a virtual phone system that helps entrepreneurs increase revenue by improving their communication with customers.

The post How to Use AI To Triple the Efficiency of Your Sales Process appeared first on SmallBizTechnology.

There are a lot of reasons why a small business might not make it. But what about the reasons why they do make it?

I’ve beat the odds, 4 times in fact, and you can too! I’ve started 4 companies, all of which have been successful, and I’ve sold one. But I’ll be completely honest with you, it wasn’t always easy. In fact, it still isn’t easy, even for someone who has done it 4 times. I’m building some new businesses from the ground up right now, and even after all I’ve learned and gleaned over the years, it’s still tough! Despite the hardships, you don’t have to feel like you’re alone in the challenge of owning and running a small business.

Intuit is has your back. As the makers of TurboTax, QuickBooks, and Mint, Intuit is committed to providing the financial tools that empower you to take control of your own prosperity. Check out their latest video to learn how they are powering prosperity.

In celebration of of this video, we wanted to share 3 simple and powerful pillars to starting and growing a successful business.

Leverage Technology

It’s no secret over here at smallbiztechnology.com that we wholeheartedly believe that technology is vital in order to grow a successful business. Keeping up with the latest tech trends can give your small business an edge over competitors. I was a technology consultant for several years and I have extensive hands-on experience in technologies across the board including social media, computer networks, mobile computing, online software and more. I’ve found that as I do the best I can to leverage technology from great partners such as

• Dropbox,
• Google,
• Intuit,
• Microsoft and others,

I can operate faster, smarter and more efficiently. Intuit is one of the leading brands helping small businesses succeed. A BIG company using their power to help us smaller businesses. I am an advocate and evangelist for these technologies for small businesses because I know from firsthand experience–they work!

Marketing

Without this fundamental strategy, your business isn’t going to make it very far. We’re not talking about billboards and sales flyers anymore. We’re talking about levering technology to draw more customers to engage with your business online. While traditional marking methods are still very much relevant and important, incorporating social media, explainer videos, and email campaigns can get your brand name out there. To grow a successful business, you need to keep the customers coming. Ignoring the importance of marketing an building a strong brand image could mean the difference between being in the 50% of small businesses who make it to 5 years or the 50% who don’t.

Financial Literacy

A key tenant of running a successful business is knowing how to manage money. It seems glaringly obvious, but so many small businesses get this wrong and never make it out of the red. You don’t have to have a PhD in Accounting to get your finances right. However, it is critical for business owners to understand the basics and to be able to read financial statements and understand the financial and tax implications of their business decisions. If you don’t already consider yourself financially literate, there’s no better time than now to get smart on small business financials. There are tons of resources, like Money Smart for Small Business provided by the FDIC, that can help get you up to speed for free.

If you’ve already got a handle on your business’s finances but are looking for some tools to make your life a little bit easier, partner with big businesses, like Intuit, who are committed to powering prosperity and helping small businesses grow. Intuit is powered by an “unrivaled set of small business data and sophisticated technology,” and they’re making these tools available to small business owners to “save them time, deliver more money and provide greater confidence in their financial decisions.” Just because you’re a small business doesn’t mean you have to operate in isolation because you’re not connected to the traditional financial system.  

Intuit has some amazing tools to help you and your small business excel financially:

• TurboTax– Taxes can start to get really complicated as a small business owner. You’re probably not an expert in tax code, so let the pros at TurboTax help you navigate those murky waters.
• QuickBooks– QuickBooks makes it so easy to keep your business accounts organized and in one place. It’s simple to use and you don’t have to be an accountant to figure it out. You can share it with your accountant though if you use one. And as time goes on, more and more companies will create products that integrate with QuickBooks, whether it’s a cloud based inventory management system or apps to help manage employee payroll.
• Mint- There is literally nothing to lose by using Mint. This free app allows you to link all of your accounts so you can track your spending, create budgets, and find new ways to save. Having your personal finances in order is the cornerstone to having successful business finances and Mint will make it easy for you to get and stay on track.

The post The Power to Prosper: 3 Pillars to Grow a Successful Business. Celebrating Intuit’s New Video appeared first on SmallBizTechnology.

1. Use Social Media to Connect with Customers and Their Values

64 percent of customers say having shared values with a company is the number one factor in winning their loyalty. Combine that with the fact that consumers spend more time than ever on mobile devices and social media, and you have a simple recipe for connecting with them.

First, identify what values go into the products or services you offer, things like quality, ease-of-use, individuality, sustainability, and enjoyability. Next, come up with creative, engaging campaigns to showcase those values on social media.

• Create short Behind-the-Scenes videos showcasing the passion you put into your business.
• Do a Fact-of-the-Day highlighting a fun detail about a product or service.
• Write a social media post about industry-trending topics and seasonal content, or simply wish everyone a good weekend.

2. Provide Top-Notch Customer Support In-Person and Online

Customers want to know that you care about their experience, no matter where they interact with you. Many small businesses get this right when it comes to face-to-face interactions, but neglect to consider online environments, such as review sites and social media. With so many consumers online now, this is a sure way not only to lose a disgruntled customer but also any potential customers who see a damaging review.

• Train employees who interact with customers in-person or over the phone on proper customer service practices.
• Assign someone you trust to be in charge of responding to negative reviews and complaints online, and follow the best practices for responding to negative reviews.

3. Engage Your Customers to Encourage Loyalty

Customer engagement takes customer service one step further. Rather than reacting to issues and problems that arise with the customer experience, you’re proactively reaching out to customers to see what they want and what you can do better. Once again, the prominence of social media gives you an easy way to do this.

• Do a poll on your business’ social media pages to see what new products or services customers would like you to add
• Ask customers to post their favorite photos of your business online and tag you—incentivize the campaign by offering up a free deal or award to a random participant

4. Implement a Loyalty Program

For many business types, a loyalty program is a perfect way to keep your customers coming back frequently, and spending more when they do. With modern digital customer engagement platforms like what SpotOn offers, it is quick and easy to set up your loyalty program that utilized mobile technology rather than old-school loyalty punch cards.

• Create different tiers of rewards, including an easy-to-achieve reward to turn first-time customers into regulars, and then more lucrative rewards for your VIP customers.
• Get creative with your rewards—in addition to offering freebies and discounts, you can devise personalized rewards, like letting a loyal customer pick a menu item or get exclusive VIP access to special events.

5. Use an Automated Platform to Do it All

As a small business entrepreneur, you probably don’t have the luxury of hiring a dedicated marketing and social media team to accomplish all the tasks above. That’s why it’s essential to take advantage of the technology available to you, such as marketing email services and social media management software.

As a company founded by small business entrepreneurs, SpotOn has done one better and created an integrated customer engagement platform that streamlines everything: social media campaigns, marketing emails, review management, and loyalty. By putting it all in one intuitive dashboard and utilizing time-saving automation tools, it allows you to effectively do the job of an entire marketing team in minutes and for a fraction of the cost.

In the end, it’s about doing whatever it takes to keep your customers happy and coming back as lifelong, loyal regulars.

Authored By:

RJ Horsley is the President of SpotOn Transact, LLC, a cutting-edge payments and software company redefining the merchant services industry. SpotOn brings together payment processing and customer engagement software along with industry-vertical software, including best-in-class POS software for restaurants. 

The post 5 Ways to Boost Customer Retention appeared first on SmallBizTechnology.

The bad news: Many people struggle with getting a pitch together at all, while others battle with honing their spiel or keeping it audience-relevant.

The good news: Ramon Ray happens to judge spitch competitions from time to time, and has given us his insight into how to formulate the ideal business or sales pitch. Here are the top 8 things to consider so that you can form the perfect pitch:

1. Enter Pitch Competitions –

Yes, these are a thing! In pitch competitions, you and other small business owners can toss around your business plans, ideas, and pitches and see if they are caught. Puns aside, these competitions serve as a great opportunity to not only practice telling people about your business, but you have the chance to actually reap the benefits of investment if you win! Pitch competitions include actual potential investors, meaning you could walk in to practice and walk away with funding for your small business.

2. Make Connections –

With pitch competitions, you are able to make connections even if you don’t walk away with a win. Even if the judging investors don’t choose you and your sales pitch, there are typically investors present who may take an interest in you and your company. These connections could then lead to investments and funding to get your business off the ground. Aside from investors, you will meet other small business owners and will network with people going through the same things you are in the small business world. You can potentially toss ideas around and brainstorm with others, only improving your business along the way.

3. Personable Pitch –

Make sure that you are making connections with your potential investors. If you have rehearsed your spiel so much that you sound robotic, you can’t connect with them and get them to become interested and invested in your company or brand. While you want to know your pitch and know it well, you need to practice comfortably proposing it and making those person to person connections throughout so that you draw interest from the people you are trying to sell.

4. Know your Audience –

Depending on the nature of your pitch, you may need to form alternate versions of it. If you are speaking with investors, you’ll need to concentrate on goals for the company and what their contribution would do to help you reach those goals. Make a clear depiction of where their money is going. If you are speaking to potential clients, you are truly trying to sell them on your product or service. Make sure that you are painting a great picture of what you have to offer so that they will ultimately leave with your message in hand and their money in your hand. Being able to have a solid pitch foundation that you can alter for your audience is important and can benefit you greatly.

5. Know the Rules –

For a pitch competition, it is important that you understand the guidelines and rules before you enter. This applies to real life investment opportunities as well. You need to know the rules of how the investor operates to adjust your pitch to best appeal to them and what they do. You don’t want to go in blindly pitching for a $100K investment to a company that’s known for only investing $10K towards new clients. Know your audience and do your research to know the rules.

6. Keep Track of Time –

Manage the time you have to give your pitch wisely. They don’t fall into the category of an elevator talk for nothing. A sales pitch of any sort is no more than 2-3 minutes long, so you want to hit home the most important and relevant points in that short time span. Don’t get bogged down in the details or you could run the risk of striking out before you even get through your spiel. Take your time, but use it wisely to land the investments!

7. Be Clear in Your Intent –

Make sure your pitch is clear and to the point, enough so that it is blatantly obvious what your company does, solves or offers. If your pitch has too much fluff to try to get sales, potential investors or clients won’t be able to clearly tell what you have to offer. Your audience may get lost in the overabundance of detail and get turned off by your company as a result. Remember, you’re trying to grab their interest quickly, and then they can ask follow up questions where you can go into more detail.

8. Provide Examples —

Don’t be afraid to provide an example or two in your pitch. Yes, you are limited on time, but if you strategically place examples you are not only providing proof, but you can also make your points clear. You’re then taking care of two aspects at once, saving time in the long run, and getting the information in there.

The post How to Make The Perfect Sales Pitch (8 Tips) appeared first on SmallBizTechnology.

Motivation and Accountability –

These go hand in hand, really. A sales coach will be there to push you harder no matter how motivated you think you are–there’s always room to grow. A sales coach is going to find what you need to address the most in your business plan and push you to go above and beyond what you are already doing to get there. It may be your weakest link, but with someone else’s eye, they’ll keep you on the ball at all times to keep things on the up and up. Working with a sales coach will allow you to set these plans into action and then work together to meet the goals along the way.

Fresh Perspective –

Once you get in the groove of things, having a fresh eye can be challenging and those minors details can blur out pretty easily. Even if a sales coach is familiar with your business or similar companies, they will still be addressing your business as a unique setup through a new pair of lenses with a brand new approach. This can lead to introducing new ideas and innovative techniques to grow your business. A sales coach could very well have the knowledge and resources necessary to introduce you to opportunities you never previously considered.

Specified Training –

You and your business will be a unique job for any sales coach. It doesn’t matter if anyone else in your field used this coach before so they have an idea of what your company is about. The unique experience and circumstances surrounding your business will lend to specific training from your coach. You may have some similarities with plans they’ve helped others with, but you are guaranteed to have a unique training experience as no two companies are identical in their strengths and weaknesses and how to get the business off the ground and running. A coach will be able to walk you through the steps you need to take to keep your company unique. You don’t want to be a carbon copy of everyone out there in your field and it is key to develop a differentiating factor to set yourself apart from the rest.

Peace of Mind –

Having a sales coach walk you through the steps of getting started in your business is a huge stress relief. If you’re looking to grow your already successful business, then a sales coach can help relieve some of the burden you’ve put on your shoulders as well. Knowing that you aren’t going at it alone can ease the tension you feel surrounding your startup by leaps and bounds. Less tension and stress means more focus on the important things you need to do to get your business to a successful point. Whether you are just getting started or just looking to grow, the company of a sales coach and knowing you can reach them for any advice makes a big difference in how you face the ups and downs you will inevitably get to.

Bigger Earnings –

This really should go without saying. No matter where you are in your business, hiring a sales coach to take it to the next level will undoubtedly result in making more sales and thus more money in the long term. Sure you are spending money by hiring the sales coach, but it takes money to make money and investing in someone who is going to work to help you build up your business is money well spent. With a coach, you’ll more than make that investment back, and who doesn’t like more money?

It goes without question that there is a lot to learn from a sales coach and there is always room to grow. The takeaway is always that a great business model will utilize whatever resources necessary to get to success. There is no shame in asking for help or even hiring out help. You never know what a fresh pair of eyes can see for your business, so why not seize the opportunity to be held accountable and become more profitable? Trust us, a sales coach is a guardian angel in disguise, there to help you through the tough times when growing your business. You won’t be sorry you made the choice to contact a sales coach, I promise. 

The post Why I Hired a Sales Coach & Why You Should, Too appeared first on SmallBizTechnology.

1. Meet holiday shoppers where they’re at

2. Tune into what your customers really want this holiday season

3. Like gift shopping, it’s best to start earlier than you think

4. Look outside the gift box and expand your audience

5. Make your list and check it twice

6. Deck your feed with seasonal content

7. Wrap it up with mobile

8. Trim your Pins with pops of text

9. Make it merry, build up customer trust and confidence

10. Use consistency to make your experience sparkle

The post 10 Ways to Drive Holiday Sales on Pinterest appeared first on SmallBizTechnology.

Paychex regularly conducts polls to analyze the business climate. Their most recent poll can be found here. Paychex polled businesses with 500 or fewer employees regarding issues relating to human resources, finances, and customer relations. In the poll, respondents could answer on a scale of 1 to 100 with 1 being completely pessimistic and 100 being totally optimistic. The overall business outlook was good, except when it comes to finding employees.

Paychex will continue to poll businesses on a trimester basis, with the most recent poll representing 500 randomly selected businesses for Summer 2018. These businesses were polled during the week of June 18 and June 27, 2018. The business outlook overall was 65/100. They felt that they were most optimistic about finding new customers, which was rated 69/100. Other optimistic ratings were about access to capital 62/10, capital investment opportunity 59/100, and the overall economy 60/100.

In the academic world, 60/100 is a D and a below-average score. But in this poll, 60 is a good number. Of course, it is not as high as 100, but it is closer to 100 than to 1, which is why it is considered an optimistic number. In the poll, businesses in the Midwestern and Southern states were more optimistic than in other areas of the country.

On the flip side, employers were not optimistic about finding new talent to fill their empty positions. They rated finding part-time or full-time employees at 31/100. Interestingly, they were notably pessimistic about finding contract or temporary employees. This rating was 16/100. There are ways to become more optimistic about finding new employees through recruitment and other “outside of the box” ideas.

According to the respondents, manufacturing businesses have the most difficulty finding qualified employees. For those companies to find skilled employees, they are turning to the schools that prepare them. They are looking for recent graduates with the skills and they are working with the schools to develop programs to train future graduates.

Some industries may have more success finding new employees, especially the restaurant and hospitality industry. They will be able to use the Shared Tip Law so employees in restaurant kitchens can also be tipped for their hard work. This will make kitchen jobs and other formerly non-tipped restaurant jobs more desirable. This new law does not apply to management and supervisory positions.

If the Business Sentiment Report shows the feelings of business owners, there is real optimism. Other than the trouble with finding hiring candidates, now might just be the time to start a new business and get in on the optimism about the economy, capital investments, and access to capital.

The post Paychex Survey Says Entrepreneurs Optimistic About Business Outlook, Ability to Find New Customers appeared first on SmallBizTechnology.

One solution to this all-too-common problem is Chorus.ai, a company that uses artificial intelligence to automatically record, organize, and transcribe business calls and meetings. I interviewed Roy Raanani, co-founder and CEO of Chorus.ai.

Chorus.ai can serve many purposes to your small business. When you start off, you will see how top performers run their deals, what features they focus on, and how they present their product. As you use Chorus.ai over a significant period of time, you can begin analyzing your own company’s data and see what techniques benefit your business.

When small businesses lose an experienced representative, it can really bring down productivity. It is very hard to find someone new with the same amount of experience. Chorus.ai can help expedite this process by providing a training resource for new employees. Since it keeps a record of all recorded calls, trainees have a real-life example to learn from and follow. many people have to many ambiguous or Vague Information about ai to clear your doubts you can check the link clearance of ambiguous or Vague Information.

As you will see, Chorus.ai makes the process extremely simple for small businesses.

With one click, you can share your Google or Outlook 365 calendar, so that Chorus.ai can see your scheduled meetings. At your next meeting, a Chorus bot joins automatically. It will prompt you to notify participants that the conversation is being recorded, then you just carry on your meeting as if nothing were different.

When the meeting is over, you will receive an email with links to the recording, transcript, and screen share. Chorus.ia then identifies the questions asked, the agenda, and various other aspects of the conversation.

Over time, you build up a library of calls, at which point you could go to the analytics portion of Chorus.ai. Here, you can search key points you want to look over, for example how often your competitors’ names were mentioned. With just one click, you will be led to the specific moment where that was discussed.

Chorus.AI helps small businesses by taking tools that are taken for granted in large companies and making them accessible to smaller businesses. In past years, processing conversations was a manual process but recent algorithms have helped bring intelligent assistance to the average worker.

Small businesses need to have good data around their sales. It is important that you maintain a data set you can periodically take a look back on. If you’re thinking about using Chrous.ai to aid your business, Roy said, start NOW.

Listen to the full interview below or click here.

The post Using AI to Improve Your Sales – Chrous.AI founder talks with Ramon Ray appeared first on SmallBizTechnology.

Since business is relatively slow, summer months are the perfect opportunity to take the time to make sure your business is moving how it should be.

• In regard to finances, it is important to ensure that every product you put out is bringing in a reasonable profit.
• Teach your employees how to maintain superior customer service.
• Customer service is a key component in a business as it determines if they will return to your business.
• It is also important to make sure your employees/contractors are well taken care of; they are the heartbeat of your business, and the business’s success depends on them.
• Another thing you can do in this slow season is advance your marketing techniques as it is important to bring in new customers.

As summer sets in and your existing customers are out vacationing, it is essential that you bring in new customers through your door.

This can be done through simple things such as thank-you cards or lowering prices for customers who refer your business. Another thing is to accept a variety of credit cards, including the American Express card. Marketing is a key factor in ensuring that new customers continue to patronize your business.

During these hot, humid, and slow summer months, small business owners can take advantage of any spare time to insure that your business is moving forward. Keep a steady watch of your finances, devise new marketing skills, maintain excellent customer service, and continue to bring in new customers.

The post Summer is Slowing Down, Your Business Doesn’t Have To appeared first on SmallBizTechnology.

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Many people believe that excess inventory is less costly than running out of a product. However, keeping too much of a slow-moving item can increase your company’s overhead costs and erode your profitability.

On the other hand, too little inventory means failing to meet and maximize the demand for your products. This will impact your top-line negatively. You also risk customer wrath, or even worse — the loss of your customer’s lifetime business with your company. This eats up your salespeople’s time, energy, and morale. Now they must deal with agitated clients and unmet sales targets.

Remember that your customer service is closely tied to your organization’s capability of fulfilling your customer’s requirements efficiently and correctly.

How do you create an inventory system that can result in a win-win-win situation for your customers, your warehousing department, and your salespeople? One of the most important keys to good inventory management is data.

In this article, we’ll go through the six ways you can use data to always have the optimal level of inventory.

6 Ways to Prevent Running Out of Inventory

1. Use historical sales data to predict purchasing trends.

Sales reports can summarize each SKU’s offtake on a daily, weekly, or monthly basis. You can then use this information to make decent projections of the quantity you need. Employees also know when you need certain items.

Take note of seasonality, as well as expected highs and lows. Do you experience spikes during month-end? Is there a certain day of the week when your customers usually replenish their stocks? How much additional sales does the holiday rush contribute to your product line? After the season, when should you start trimming down your order quantities?

Historical sales data will also reveal which items are your bestsellers. These are the items that make the bulk of your sales. Make sure you keep a close eye on these items. Review and order them more frequently, if needed.

2. Use software to keep track of real-time inventory levels.

Keeping track of the current inventory that you have on hand will help you decide whether or not it is time to place a new order. It’s important to have a point person to review your inventory levels for each item regularly. That way, you can take prompt action especially during unexpected surges in demand.

If you have a big portfolio of items, manually counting each item every day would be an incredibly time-consuming task. Likewise, it’s prone to human error.

To minimize these potential problems, it’s a good idea to have inventory management software to help you keep track. All-in-one POS software systems have a range of features that can make the process easier for small business owners.

Of course, you still need to check your inventory record versus your actual quantities. Do this periodically to avoid and address discrepancies between the two.

3. Keep lead time in mind when calculating when and how much to reorder.

Different suppliers have varying order-to-delivery lead times. Lead time is the number of days/weeks/months from when an order is placed to when the item reaches your warehouse.

If a particular vendor has a long lead time, make sure that you take this into consideration when replenishing your inventory. Keep in mind that it’s important to negotiate for a shorter lead time. Do this in order to minimize the amount of inventory you need to keep in your warehouse.

If you are a manufacturer, there is also the production lead time to add to the equation. This is simply the number of days it takes to produce your item in your factory (or third-party manufacturer).

4. Set a minimum inventory level to know when it’s time to reorder.

You need to reorder your items when they reach the minimum inventory level so that you do not run out of inventory.

When determining your minimum inventory level, it should not be some magic number that you just pulled out of a hat. Rather, it should be based on your projected sales quantity for a certain number of days. It definitely should not be less than your supplier and production lead time combined.

An illustration might help. If you sell 300 pieces of your product every 30 days, that means your average daily sales is 10 pieces per day. Assuming your supplier lead time is 15 days, then your minimum stock level should be at least 150 pieces (10 pieces x 15 days).

If you are a manufacturer and it takes 5 days to produce your finished product, then you have to add 50 pieces (10 pieces x 5 days), for a total of 200 pieces minimum stock level.

5. Include market trends and projected brand performance into your equation.

Take note of your industry’s outlook and factor in expected growth and decline in your ordering and inventory management.

Are you going to launch a marketing campaign and you’re bullish about your brand’s increased sales? Make sure that your inventory level is enough to meet the spike in demand.

6. Know your warehouse’s capacity and partner with a third-party logistics (3PL) company, if needed.

As your business grows, you will need to order more stocks of your products or raw materials. However if your warehouse capacity is limited, the lack of space might be a challenge for you.

If investing in additional warehouse or personnel is not yet feasible for your company, a fantastic practical option is working with a third party logistics (3PL) company. These companies offer order fulfillment services that can help you save time, energy, and money.

Inventory Management Formula

This is a proven ordering formula. It can work for any kind of business, with some minor tweaks based on your SKU types and industry.

• Total Days = The number of days you want to keep in inventory + supplier and production lead time + buffer days for a possible increase in offtake or unexpected delays.
• Order Quantity = (Average sales per day x total days) – inventory on hand.

Keep in mind that the above formula does not take into account the following:

• Customer order to delivery lead time.
• Shelf life of SKU’s or raw materials.
• Minimum order quantity (MOQ).
• Bulk discounts from suppliers.
• Box, pallet, and finished products sizes and weight.

Bottom Line

When you run out of inventory, you disappoint your customers and give your competitors the chance to snatch them from you.

Keep in mind that some upset clients will never come back to do business with your company ever again. As a result, make it your goal to have a healthy inventory level at all times.

The post How to Make Sure You Never Run Out of Inventory appeared first on SmallBizTechnology.

Be Part of a Small Business Revolution!

Small Business Revolution was a project started by Deluxe in 2015, aimed at showcasing the stories of 100 exceptional small businesses. The event was held again in 2016 and became even bigger, with a competition where one town would win a $500,000 main street makeover. Wabash, Indiana was crowned the winner, and now Deluxe is sharing a special eight-episode series about the town’s revival! This is certainly an inspirational story, but you will also be happy to know that nominations are now open for the NEXT $500,000 small town, small business boost! Find out more by checking out this article.

Click to read $500,000, 100 Stories, and a Small Business Revolution in Small Town America

It’s Time to Reach More Customers

“The companies that are winning are the companies that know their customers.” That’s a quote from Jamie Domenici, the VP of Product and SMB Marketing at Salesforce. Recently, Ramon Ray interviewed Jamie, who had great advice for small businesses that want to reach more customers. According to Jamie, the three pillars of sales and marketing are Find, Win, and Keep, and you can learn more about that by checking out this article.

Click to read Find, Win, and Keep Customers: 3 Pillars of Sales and Marketing Success

Advice for Startup Software Developers

With apps escalating in popularity, software startups seem to be popping up all over the place. There is fierce competition and only the strongest will survive. Want to make sure your small business is one of them? In this article, Ramon Ray interviews Vinay Pai, the VP of Intuit Developer Relations who shares tips for how to build an ecosystem.

Click to read How to Build a Community of Software Developers: Intuit Exec Shares Success Tips

The post Smart Hustle Recap: Join the Small Business Revolution, Reach Your Customers & More appeared first on SmallBizTechnology.

Tips for Improving Your Likability

In this intriguing Smart Hustle interview, Ramon Ray spoke with Dave Kerpen who shared the many ways that becoming more likeable can improve your business – building trust with mentors and business colleagues, developing a company culture that empowers your employees, and listening to your customers so you know what they value and how to help them.

Click to read Dave Kerpen’s 5 Simple Rules for Being More Likable and Successful in Business

Must-Have E-commerce Tools

There are around 110,000 e-commerce stores online. How can you stand out in the crowd and grow a profitable small business? By using the right tools! This article covers six of the most important e-commerce tools that will help your online store run smoothly.

Click to read 6 Essential Tools for Every E-commerce Business

The Importance of Non-Revenue Assets

When asked what drives the value of your business, most small business owners say it is revenue, but in fact, much of the value of your business is locked up in non-revenue assets – whether it is equipment, processes, intellectual property, customers, or something else. These assets are particularly important when selling your business to a strategic buyer, so it is essential that you understand the non-revenue assets that will drive up value. This article shares three tips for doing so.

Click to read The Hidden Value of Your Business in Non-Revenue Assets

Boost Your Startup Valuation

Valuation is essential for startups because it helps build buzz and draw in potential investors and lenders. However, it is now easier than ever to start a business, so competition is fierce. This article teaches you how to guard the value of your startup with three important tips.

Click to read How to Make Waves with a Startup Valuation

At Smart Hustle, we strive to provide tips and insights on all aspects of running a business – advice specifically for small business owners.

The post Smart Hustle Recap: Increase Your Likability, E-commerce Tools, and More! appeared first on SmallBizTechnology.

New Business Has Slowed? Here’s Why

The key to business growth is acquiring new customers, so if you’ve noticed that things have slowed down, it’s time to take notice. While slow business growth can happen for reasons like an economic downturn, there are often business missteps that are to blame. In this article, sales guru Adrian Miller is sharing five reasons why you might not be seeing the new business you’d like. Figure out which are applicable to your situation, then use her advice to fix it.

Click to read 5 Reasons Why You Might Not Be Winning New Business

Connecting with Customers via Facebook Live

Video marketing is a hot trend right now, but do you know what is even hotter? Live video. The thought of appearing live and unscripted on camera in front of your customers might sound daunting. However, when you understand the benefits of live video (and the fact that your fears are largely exaggerated!), you’ll be ready to take the first step into this promising area of marketing. In this Smart Hustle interview, social media expert Kim Garst shares the benefits of Facebook Live and five tips that will calm your fears and get you prepared for your first live video.

Click to read 5 Tips for Using Facebook Live to Get Closer to Your Customers

Enhance Your IT Security Today

A sobering statistic for you: in a recent survey of 500 IT professionals, 30 percent said they believe there is nothing they can do to protect the security of their company. If you’ve ever felt the same way, it’s time to eradicate that self-defeating thought and take charge because you definitely CAN improve IT security at your business! In this article, cloud service LogMeIn is sharing four simple things you can do to greatly enhance the security of your company.

Click to read How to Improve IT Security in Four Simple Steps

So what is troubling you these days? Winning new business and sales? Forming better relationships with your customers? The security of your business data? These articles are sure to help, and for more tips and advice, catch new content over at SmartHustle.com.

The post Smart Hustle Recap: Winning New Business, Facebook Live & IT Security appeared first on SmallBizTechnology.

What’s a small business owner to do?

If you’ve rode this roller coaster before, you have likely realized that you must take a slightly different approach depending on the season. While you always want to provide customers with a pleasant and positive experience, each season requires its own unique spin on promotions and marketing in order to lure shoppers into your store, whether physical or online.

In a recent article on The Business Journals titled How Staples Helps This Retailer Weather the Doldrums after Holiday-Sales Rush, I read about how one company uses Staples Print and Marketing Services to adapt to the seasons and give customers a positive experience.

A wise small business owner knows the value of planning in advance. Check out The Business Journals’ article to learn how a fellow business owner relies on Staples to boost sales through the holiday season and beyond. It is sure to spark some creative ideas for how your business can successfully ride the holiday sales roller coaster too.

This article was written in partnership with Staples; however, all opinions and experiences expressed are my own.

The post How to Ride Holiday Sales Through January and Beyond appeared first on SmallBizTechnology.

Using Google Analytics to Track Social Campaigns

Even though there are several social media management tools, the richness of Google Analytics reports make it ideal for tracking your social campaigns. Did you know that you can use Google Analytics to track network referrals, conversions, landing pages, and social plugins? This article tells you how to get started with Google Analytics, set up goals, and five top Google Analytics reports to look at to understand how your social media campaigns are going.

Click to read How to Track Social Media Analytics with Google Analytics

Recovering from a Sales Slump

Unfortunately, everyone will experience a sales slump at some point in his or her career. Biz expert Adrian Miller says the first important thing is to understand why the slump happened so you can address the cause! However, if you find yourself in a slump, there are plenty of things you can do to recover. Adrian reviews four of the best things you can do to get the sales ball rolling again.

Click to read How to Revamp Your Business in a “Sales Slump”

Small Biz Owner: Don’t Focus on Going Viral

The gold standard in content marketing is a phenomenon known as “going viral” – when your content (whether it is a blog post, video, social media message, or something else) gets the attention of mass audiences who flood to your site and “discover” your company, making you an overnight sensation. While going viral is definitely a good thing, there are many reasons why small business owners should not focus on going viral. This article explores the reasons and what small business owners should do instead to make sure their content is a hit among the target market.

Click to read Content Marketing 2016: Why Small Businesses Shouldn’t Focus on Going Viral

Smart Hustle Magazine is committed to helping small business owners through all the twists and turns of running a business – the high points (like going viral), the low points (like experiencing a sales slump), and all of the experimentation that goes on in between (including tracking campaign analytics on platforms like Google Analytics). For more advice – no matter what stage of the game you’re at – check out SmartHustle.com or join the discussion in the Smart Hustle Community.

The post Smart Hustle Recap: Google Analytics How-To, Recovering from a Sales Slump, and More! appeared first on SmallBizTechnology.

Establishing Culture in Your Business

Culture is what differentiates those companies where the employees love to come to work from those where the employees dread ‘punching in.’ How your employees feel about their job is then reflected down to the customers, which is why every business owner should think carefully about the kind of culture and the core values they want the business to represent. Need a little guidance? This article offers four great tips for how to improve your work environment.

Click to read How to Build a Rock Slid Company Culture

Making Analytics Work for Your Business

Business data provides valuable insights into how to improve your business, but many times, business owners collect data and then aren’t sure what to do with it. Ideally, analytics should be the driving force behind the decisions you make, and all employees should understand how to use analytics. This article will help, with four training tips that will teach your whole team how to use analytics effectively.

Click to read How to Train Your Team in Better Analytics

Upgrading the Point of Sales Experience

The point of sales is that final moment in the journey where a person officially becomes a customer. Think now to the point of sales experience in your business – does it positively add to the customer’s experience or does it hurt your chance of making a sale? This article has a valuable lesson on what not to do, then some tips for improving the experience, like upgrading your point of sales technology and empowering your sales staff.

Click to read 3 Ways to Improve the Point of Sales Experience

Business Tips for Artists

Although artists funnel their passion into their artwork, interview guest Crista Cloutier says that artists are also entrepreneurs and they must learn how to build their business if they want to be successful. An artist herself, Crista also runs a program called The Working Artist which teaches artists the business skills they need. In this interview, Crista gives tips for how people in creative industries can plan out their business and execute their marketing.

Click to read The Working Artist, Crista Cloutier, Shares Business Tips for the Creative Industries

Successful business owners know they have to pay attention to those important details, including creating a positive culture, listening to analytics, and giving customers a good point of sales experience. What little details in your business could use some TLC? Chances are you’ll find the tips and advice you need on SmartHustle.com.

The post Smart Hustle Recap: Establishing Culture in Your Business, Better Analytics, & More appeared first on SmallBizTechnology.

Snapchat Announces a New Advertising Option

If millennials are your target market, you probably know about Snapchat by now. This social media platform is a hit among 18-34-year-olds, who use the platform to share pictures and videos. Snapchat has offered various advertising options for a while now, but on June 13^th, they announced a brand new option that shows promise for reaching the millennial market. This article explains your new Snapchat advertising option, and also presents an infographic full of tips on how you can use Snapchat to market your business (both organically and paid).

Click to read New Snapchat Advertising: Target Millennials with Video Ads

Pitching the Media

Another way to market your business is to get coverage in the media. Although small business owners typically don’t have the budget to hire a PR person, the DIY strategy can work when executed properly. This article shares tips on how to pitch the media, including where to pitch as well as the length and timing of your pitch.

Click to read 3 Ways to Pitch Your Small Business to the Media

Improve Your Sales with Negotiation Skills Training

Sales are the most important aspect of building a successful business. Think about it – no matter how great your marketing is, you won’t get very far if your sales team can’t seal the deal. In the days of fierce competition, your sales team must be able to build a strong argument for your product and service, but they also must be prepared to negotiate the final terms and price. This article presents six reasons why you should provide negotiation skills training to your sales team to set them up for success.

Click to read Negotiation Skills Training: Why Startups Need It

Growth Hacks to Try in Your Small Biz

Growth hacking refers to a wide range of activities spread across marketing, sales, programming, and design that help a business grow FAST. Taking examples from successful startups like Apple, Google, Dropbox, Pinterest and more, this article shows you how you can also use growth hacks like referrals, email signatures, communities, piggybacking and more in your small business.

Click to read 9 Growth Hacks from Your Favorite Startups (And How to Use Them)

What do you say – are you ready to market your business and bring your sales to the next level? Get guidance in the articles above and for more ideas and inspiration visit SmartHustle.com.

The post SH Recap – Market Your Business, Improve Your Sales, and GROW! appeared first on SmallBizTechnology.

This article was written in partnership with GoDaddy, a company that offers domain name registration as well as hosting and ecommerce services to help you develop your online presence.

The phrase rings out on websites all over the Internet – if you’re a business, “you HAVE to be online!” Although most small business owners will recognize the importance of an online presence, many have held back for fear that setting up and running a website is a complex process that they can’t possibly understand or manage. It’s not true! As small business owner Fred Magnanimi said in a recent Smart Hustle interview, technology is a lot more accessible than many people assume. He set up his website and e-commerce store all by himself and with the tools available today (like GoDaddy hosting and e-commerce services), so can you.

I recently had the chance to review GoDaddy hosting and e-commerce options. My conclusion? These are the sort of tools that empower small business owners to take control of their online presence and reach a larger market. They are affordable, simple to use, and include everything a small business owner needs for success.

Want to know what I think about GoDaddy hosting & e-commerce services? Check out my personal review by clicking play on the video below, plus read on to learn more.

The Importance of Hosting and E-commerce

Before I cover the GoDaddy services and features, let’s talk about why you would need them in the first place.

Hosting (or web hosting) refers to a service where a company (in this case GoDaddy) provides access to, and storage space for, a website. It’s a lot like renting your space. Just like you pay to rent your physical location, you pay a web hosting service to rent your online location. The host gives you a certain amount of storage space (for pages, website content, files, pictures, etc.) and they store your information on a server. When someone wants to view your website, they type in your address, their computer connects to the host’s server, and your website is displayed in their browser.

There are some sites that offer free hosting, but that comes with downsides that aren’t ideal for business. For a few bucks a month (as low as $3.99 with GoDaddy hosting) self-hosting gives you perks:

• Choose your own domain name (you want to be timsbakery.com not timsbakery.wordpress.com!)
• Fully customize the design of your website
• Use plugins – tools that extend and improve the functionality of your website
• Add Google Analytics to learn about your website visitors

It’s clear that any person who is serious about their business should choose a self-hosted site over a free site. And why do you need a website? Because it’s where your customers are and where people will go to find you! Even if you are a local business, your customers (and prospective customers) will want to go online to find your location, phone number, business hours, contact information, menu, and so on.

If you have a product you could potentially sell online, having a website gets even more important. That’s where e-commerce comes in. E-commerce refers to the selling and purchasing of goods online. It takes your website to the next level – not only do you have a site that gives information about your business and your physical location, but you also have the ability to sell your products. This expands your reach and opens you up to millions of potential customers. E-commerce is a natural progression for any local product-based business that wants to expand.

GoDaddy Hosting

GoDaddy offers WordPress hosting services for small businesses who know it’s time they set up a website. WordPress is the most popular website building tool because it’s completely customizable and user-friendly. If you don’t feel comfortable setting up your own site, there are also plenty of WordPress experts out there who can help you get set up. The GoDaddy plans allow you to choose the hosting that is right for your business:

• Basic Plan – As low as $3.99/month and $7.99/month when you renew, you’ll get hosting for one WordPress site with a capacity for 25,000 monthly visitors and 10GB SSD storage.
• Deluxe Plan – As low as $4.49/month and $9.99/month when you renew, you’ll get hosting for one WordPress website with a capacity for 100K monthly visitors and 15GB SSD storage, plus extra perks like an SEO plugin.
• Ultimate Plan – For as low as $7.99/month and $14.99/month when you renew, you’ll get hosting for two WordPress sites with a capacity of 400K monthly visitors and 30GB SSD storage, plus extra perks like malware scan and removal.
• Developer Plan – For as low as $13.99/month and $24.99/month when you renew, you’ll get hosting for five WordPress sites with a capacity of 800K monthly visitors and 50GB SSD storage, plus extra perks like a free one-year SSL certificate.

If you purchase an annual plan, you’ll also get a free domain (your chosen URL). All plans include free daily backups and one-click restore so you won’t lose your data, plus free 24/7 support for questions and issues.

GoDaddy E-commerce

If you want to sell products online, you can choose GoDaddy’s e-commerce service which includes your website, hosting, and shopping cart. Currently, you can try it for free for the first month then get a discount of $19.99/month for the first year (after that, the normal price is $29.99/month). With GoDaddy e-commerce you can:

• Easily set up your store, choosing from many customizable themes that allow you to drag and drop product images and add descriptions.
• Take payments online, with the ability to accept all major credit cards and PayPal. You are only charged a fee when you make a sale, which is 2.9 percent plus $0.30 per transaction.
• Sales are automatically transferred to your bank account.
• Enjoy 24/7 support for advice and answers to all your questions.

My Experience with GoDaddy Hosting & E-commerce

There are several things to look for when considering an e-commerce solution for your business. Of course, the specific needs of your business and your goals are most important. But in general, I look for simplicity and the ability to easily add products online. Other things, such as security and integration with other apps, are important as well.

I explored GoDaddy’s e-commerce solution by making a test store of my own.

In my experience, GoDaddy’s e-commerce was fast and easy to use, allowing just about any business to get up and running quickly to sell online. You can sell through QuickBooks or Stripe, for starters.

GoDaddy’s hosting solution is pretty seamless as well. When I tried out GoDaddy hosting, I wanted to see how easy it was to migrate SmallBizTechnology.com over to GoDaddy. After entering a few bits of information, GoDaddy’s migration tool took over the rest and began to automatically migrate my managed WordPress site to the GoDaddy platform. From my experience, it will be easy for anyone who currently has a website to switch from their current host to GoDaddy hosting. Doing so will allow you to lock in the low prices and features I mentioned above.

Also, if you don’t have a website yet, I’m sure you’re now amazed at how easy and affordable it is to set up your online site and store. GoDaddy hosting and e-commerce services are perfect for small business owners who are ready to embrace technology and all the perks that come with it – more leads, customers, sales, and profits. The online world is your oyster, small business owner!  It’s time to set up your website or e-commerce store today.

GoDaddy is the world’s largest domain registrar, with over 14 million users worldwide. Their services also include website creation, hosting, design, ecommerce for small business, security, marketing services, bookkeeping, and productivity tools. GoDaddy has 62 million domains currently under management and is committed to empowering small business owners to successfully start, grow and run their businesses.

The post GoDaddy Hosting & Ecommerce Helps SmallBiz Owners Set Up an Online Presence appeared first on SmallBizTechnology.

Choosing the right point of sale (POS) technology is one of the many tasks for setting up your small business, and like other areas of building your business, it is complicated by the variety of choices available. There are hundreds of POS systems to choose from, and they’re certainly not created equally. Choose the wrong system and you’ll encounter headache after headache, including lost productivity and unhappy customers. Make the right choice and you’ll streamline your processes, with the ability to simplify and automate tedious tasks that you used to handle manually. In an effort to help you make the RIGHT choice of POS technology for your small business, ShopKeep has just released a free resource called the Ultimate Guide to Choosing a POS System.

Goodbye Cash Register, Hello Modern POS Technology

Historically, the cash register has been the go-to device for ringing up sales. However, today people pay with a variety of methods, including credit cards, debit cards, and even contactless payments. These multiple payment methods make calculating daily transactions much more difficult than simply counting up the cash in your till. POS technology can efficiently handle daily, weekly, monthly, quarterly and annual sales tracking, and it can even perform additional duties, such as inventory management.

The earlier generations of POS systems were PC-based, which came with drawbacks such as software costs, crashes, repairs, maintenance and more. However, technology has progressed so that today small business owners can choose iPad-based POS systems that are cheaper, more reliable, and easy to use.

What to Look for When Choosing POS Technology

The guide walks small business owners through what to look for when choosing POS technology. This includes:

• Usability – The technology should be easy to set up & use.
• Customer Support – The system should come with 24/7 support.
• Simple Pricing – You should look for simple, pay-as-you-go pricing.
• Quality Hardware – The hardware should be both durable and stylish.
• Cloud Data – The POS data should be held in the cloud and accessible anywhere.
• Security – The technology should keep customer and business data safe and secure.

The guide reviews these and other important aspects of POS technology. You’ll learn how making the right choice in POS can also help you with sales reports, business insights, accounting, and even building better relationships with your customers.

It’s Time for a POS Makeover

Whether you’re just starting out, or you’ve been in business for a while, it’s definitely time to look at the latest POS systems and update accordingly. The ShopKeep Ultimate Guide to Choosing a POS System features a variety of quotes about payment systems, and this one by Greg Burch, VP of Strategic Initiatives U.S. for the Ingenico Group, really stood out to me:

“It’s crucial for small retailers to keep their payment technology up to date both to ensure security and to let customers pay the way they want to pay. Ultimately, small merchants who don’t keep up with payment technology are likely to lose business to their competitors.”

Your customers ARE looking for the convenience and security of modern systems, where their transaction with your business can run smoothly. Having the wrong POS can make your business look dated, and any mishaps with the POS transaction will cause customers to shop elsewhere.

Choosing the right POS technology can also help small business owners who run brick-and-mortar businesses to streamline their processes.  Since modern POS systems can automate many tedious manual tasks, business owners can become more efficient and productive. This gives them more time to devote to the most important aspects of running and growing the business.

The ShopKeep Ultimate Guide to Choosing a POS System has everything you need to make an informed decision about POS technology. Grab your free download today and you’re one step closer to choosing the right point of sale system for your small business.

The post Choosing the Right POS Technology for Your Small Business appeared first on SmallBizTechnology.

The 3 Biggest Mistakes in Pricing Strategy

Finding the right pricing for your products and services is vital to your success. Price too high and your target market won’t be able to afford your product; price too low and your target market won’t trust your product. To increase sales, you must find the right pricing strategy – and to help you out we spoke with Lisa Hendrickson of Spark City, who shared the biggest pricing strategy mistakes and why you should be careful about adopting the lean startup model.

Click to read Why Small Business Needs to Rethink Pricing Strategies and the Lean Startup Model

Branding: Design & Color

Your branding elements are the visual representations of your business that will drive brand awareness and customer loyalty. Since many of us need help with design, we conducted an interview with Pam Webber of 99designs. In our discussion, Pam gives advice on the role of color in branding and the importance of design for small businesses.

Click to read The Importance of Color and Design When Branding Your Business

Review of Robert Herjavec’s Latest Book

You know Robert Herjavec as an investor on ABC’s Shark Tank, but according to his new book, you DON’T have to be a shark – success is available to anyone who is willing to work hard enough for it. The book touches on issues such as hard work and the importance of selling effectively. As a small business owner, will the book help and inspire you? Should you add it to your reading list? Find out by checking out Ramon’s review.

Click to read You Don’t Have to Be a Shark: Review of Robert Herjavec’s Latest Book on Sales, Hard Work, & More

Do You Have an Accountability Partner?

An accountability partner is somebody who helps you stay on track and reach your goals. It could be a mentor, a group of advisors, a business coach, or some other confidant whom you can turn to for a fresh perspective. Being an entrepreneur means that you are your own boss – but that doesn’t mean you shouldn’t have someone who will help you stay accountable. Find out why you need an accountability partner and how to do accountability the ‘right way’ in this article.

Click to read Why Every Small Business Owner Needs an Accountability Partner

Small Business and Health Insurance

The current rules say that small businesses that have fewer than 50 full-time employees do not have to offer health insurance to employees – but should you offer it anyway? This article looks at the pros and cons of offering cheap viagra from mexico employee health care benefits and also shares information on how and where to explore health insurance for your employees.

Click to read Should Small Businesses Offer Employee Health Benefits?

This issue of the Smart Hustle Recap will help you take control of sales with the right pricing strategy, create beautiful branding elements for your company, contemplate thought-provoking topics like health care and accountability, and even add a new business book to your library. In addition to that, there are plenty of other stories you may have missed in the past couple weeks while we took a break from our weekly Recap. Take a few minutes to catch up at SmartHustle.com.

The post Smart Hustle Recap: Developing the Right Pricing Strategy, Using Color in Your Branding, & More appeared first on SmallBizTechnology.

• There has never been a better time for e-commerce.
• It has never been easier to set up an online storefront.

But as simple as it is to set up an e-commerce presence, it’s important to know how to build and market your store before you get started. With the right tools in place, you can build a winning website and draw customers in. Once you’ve set up your e-commerce shop, you’ll need to know how to leverage it to get the best results.

How to Leverage an Ecommerce Platform

As beneficial as an online store can be to your business’s success, it isn’t the only option. If you aren’t quite ready to set up your own online store, consider leveraging one of the many existing platforms for reaching customers online. Marketplaces like Etsy, Amazon, and eBay will let you set up a store and reach their already robust customer bases. Angi (formerly Angie’s List) and Thumbtack will help you connect with local customers who are looking for services like yours. The best thing about these resources is that you’ll be able to enjoy quick setup without a huge financial commitment.

If you decide to use a site like Etsy or Amazon as your sole selling platform, you should buy the domain name that best relates to your business and point that domain to your online store. This will give you a single address on the web, whether that address is connected to your Amazon seller account, your Etsy shop, or your own dedicated website. This will give you one online address, as well as the benefit of an easily-remembered address that promotes your own brand up front. It will also give you a company-branded email address.

How to Build Your Own Online Store

Once you’re ready to build your dedicated online store, getting started is easy. Useful website builders like Shopify, Squarespace, and Wix let you build an online store using drag-and-drop tools. These sites offer features like shopping carts, site hosting, and search engine optimization, making sure your online store is easy to use, has a professional look, and ranks well when customers are searching for certain products or services.

While these services generally aren’t free, businesses usually find they’re budget friendly. Generally do-it-yourself site builders cost less than $75 a year and may even be free if shop owners are willing to allow third-party ads on their sites. Best of all, these tools come with customer support to provide technical help when needed.

3 Tips to Guide You

1. Identify your website needs – Your online store can be simple and streamlined or a sophisticated multimedia marketing and sales hub. Determine your requirements before you begin building. If you decide you want a lot of bells and whistles on your site, you may want to consider a professional web developer to help.
   2. Pick a domain name – Your domain name will be your virtual address, as well as your online identity, on the web. Even if some solutions offer to host your site on their domains, you should put your website on your owndomain name to have a consistent, branded web address for your customers to remember. It will also give you an attractive, professional web address to use in your marketing.
   3. Select the right website builder – You can find an array of solutions by doing an Internet search for ‘e-commerce website builder.’ Take time to research and compare two to three options. Make sure they have an e-commerce option and that they will not only meet your needs for today but in the future as well.

With so many great resources, entrepreneurs can easily set up an online store and begin promoting it immediately. Before choosing your site’s platform, make sure you carefully research all of the available options and choose the one that’s best for your own business.

This article was written in partnership with Verisign; however, all opinions and experiences expressed are my own.

The post Tips to Help Your Business Build a Winning Ecommerce Store appeared first on SmallBizTechnology.

Sure, Apple sells great looking hardware, but as reported by the WSJ.

It’s array of services is what will keep the profits coming, over and over again. The WSJ writes, “The bulk of Apple’s services revenue comes from apps. Apple keeps 30 cents of every dollar that flows through the App Store. In January, the company said customers had spent $20 billion on apps in 2015, suggesting Apple generated roughly $6 billion in revenue. Mr. Cook said App Store revenue grew 35% in the March quarter.”

So here’s the lesson. You can sell a product (or simple service) to your customers, but by selling a recurring service you’ll always be connected to your customer and have a steady stream of revenue.

An accountant just selling annual tax services is not an accountant for the longer term. One for the long term sells retainers.

This goes with every industry.

For companies selling a “product” consider how you can turn also sell a service, of value to your customers.

If they know, like and trust you – it shouldn’t be too hard to sell them a service that they need.

The post What Every Business Should Learn from Apple. Sell More Than Hardware, Boost Revenue with Services appeared first on SmallBizTechnology.

If you’re still looking for marketing ideas to try (and master) then this is the Smart Hustle Recap for you! Today we will be featuring a number of marketing strategies that work for small business owners, including developing a return on relationships, designing personalized products, creating a stunning business logo, and using hashtags to your benefit.

Marketing Strategies that Work #1: Return on Relationships

You have likely heard of ROI, or return on investment, but what about ROR? ROR stands for return on relationships, and in this Smart Hustle interview, Ted Rubin (who coined the phrase) will tell you what it is, how you can grow ROR through social media, and how ROR will impact your bottom line.

Click to read Ted Rubin on How to Maximize Your Return on Relationships (ROR)

Marketing Strategies that Work #2: Personalized Products

In this second Smart Hustle interview, we hear from Gustav Reyes, who has found success creating wooden rings. In addition to inspiration, the article will teach you about the benefit of creating your own niche, including personalizing the customer experience with customizable, intimate gifts that are sure to draw the customers in.

Click to read How to Pursue Your Business Dreams – An Interview with Gustav Reyes

Marketing Strategies that Work #3: Business Logo

Your business logo gives your company a visual identity. It sends a message about what your business is about, and it helps customers recognize your brand when they see it. Certain elements of the business logo, (like meaning, color, representation, design contrast, and a timeless appearance) should be planned out in advance to get the biggest impact. If you’re just starting out (or looking to rebrand with a new logo), this article has the essential design information you need.

Click to read 5 Essential Elements of an Eye-Catching and Memorable Business Logo

Marketing Strategies that Work #4: Hashtags

Hashtags were made popular on Twitter almost a decade ago, but now they are a staple of all social media sites. Used correctly, hashtags can help categorize and publicize your social media messages to reach a wider audience, but if done wrong, they can scare your followers away. If you’re still struggling with hashtags in your small business, this article offers 3 simple ways to use them effectively.

Click to read Hashtags Can Help Your Small Business Be One of the Big Guys

Marketing will always be somewhat of a mystery because it is not an exact science, but if you take the time to do your research, you can create a solid marketing plan for your small business. Explore the above articles to learn about these marketing strategies that work, and for help with other marketing and business questions, check out the Smart Hustle homepage.

The post Smart Hustle Recap: Marketing Strategies That Work Including Return on Relationships, Hashtags, Logos & More appeared first on SmallBizTechnology.

How to Use Landing Pages

Landing pages are an important tool to use in the middle of your marketing funnel. They help you capture website visitor information so they become leads that you can contact – and then they help move those leads into paying customers. In this interview with Robert Nendza of LeadPages (a landing page tool), he explains how to use landing pages, detailing the process so you can replicate it in your own business. This article (and the accompanying audio interview) is sure to change the way you think and execute your marketing.

Click to read How to Build a Powerful Marketing Machine: Tips from LeadPages VP of Marketing

The Inspirational Story of the Kauffman Foundation

The Kauffman Foundation is a philanthropic organization that is devoted to the advancement of education and entrepreneurialism. As a small business owner, you may have come across the name before and even visited the website for resources like the ‘Founders School’ which provides valuable information to entrepreneurs. In this article, we get the full story of the man behind the Kauffman Foundation. In an exclusive Smart Hustle interview, Matt Pozel from the Kauffman Foundation tells the inspirational tale of Ewing Kauffman whose sales expertise and business savvy helped him earn the money to start the foundation. This is a tale that is sure to inspire and motivate your own journey.

Click to read Matt Pozel of the Kauffman Foundation Shares the Story & Legacy of Ewing Kauffman (Interview)

Stop Aiming for Perfect

Small business owners are a highly ambitious group, a fact that makes many of us prone to perfectionism. While ‘perfect’ may be the standard you have set in your business, this article explains why perfectionism can actually hurt, not help, your business. If you need convincing, this article has 5 reasons why perfectionism isn’t a good model. It also offers help to those perfectionists who have to learn how to let go.

Click to read 5 Reasons You Need to Stop Aiming for Perfect in Your Business

Knowledge, inspiration, and reality checks – that’s what we are offering you in this edition of the weekly Smart Hustle Recap. For help on your other small business issues and questions, make sure to check out the full Smart Hustle website here.

The post Smart Hustle Recap: How to Use Landing Pages, the Story behind the Kauffman Foundation, and More appeared first on SmallBizTechnology.

Small Business Administration Interview

Maria Contreras-Sweet is the administrator of the SBA. In this interview, she is sharing information about SBA resources and the general mission of the SBA – “to amplify the voice of small business.” She also gives some small business advice and speculates about the future of global business. Take a few minutes of your day to listen to this important information.

Click to read SBA Administrator Maria Contreras-Sweet Shares How the SBA Can Help Your Small Business Succeed.

How to Make Your Marketing & Sales Work Together

In this article by Biz Expert Adrian Miller, she explains that marketing and sales should go together like peanut butter and jelly. Only when they work together can you see the results you want in your small business. Why is an integrated strategy so difficult – and what can you do to make sure they work together and you don’t waste your marketing budget? Find out in this article.

Click to read Don’t Waste More Money on Marketing.

New Social Media Marketing Option – Facebook Instant Articles

Facebook Instant Articles has been around for about a year, but up until this point it has been restricted to certain large publishers, like the New York Times. However, on April 12, 2016, the platform will open to ALL publishers – meaning that if you have a business blog, you can publish and gain new readers and followers on this platform. Normally that would be tricky to do, but there is a new WordPress plugin (also launching on April 12) that will make it super simple. In this article you can learn more and ready your business for the launch date.

Click to read Facebook Instant Articles WordPress Plugin Makes Small Businesses Reach Bigger Audiences.

Seizing Small Business Opportunities

As a small business owner or entrepreneur, you need to be ready to grab unexpected opportunities when they appear. However, you also need to go out and make those opportunities happen! This article features four ways that you can prepare, thus allowing you to grab the next opportunity that falls in your lap.

Click to read When Opportunity Knocks: 4 Ways to Grab Small Business Opportunities.

This week’s Smart Hustle Roundup is full of valuable advice, including how the SBA can help your small business, how to get the most out of your marketing budget, how to take advantage of the latest Facebook marketing tool, and how to grab those important small business opportunities.

The post Smart Hustle Recap: Small Business Administration Interview, How to Seize Small Business Opportunities, and More! appeared first on SmallBizTechnology.

• The ability to link mobile payments with loyalty programs and other incentives
• The ability to track customer trends as well as your inventory
• Mobile payments are an easy way to extend payment options from cash-only to credit cards
• Mobile payments typically have lower processing fees than traditional credit card processing
• Mobile payments offer your customers a faster checkout experience

Benefits to consumers (like convenience and security) also mean that business owners will eventually jump on board this trend as more and more consumers come to demand mobile payments and expect it as a payment option.

At this point in the game, it’s not a question of if mobile payments will take off – it’s a question of which company will end up winning the mobile payments race.

Currently there are several options for mobile payments from some of the biggest names in business – Apple Pay, Google Wallet and PayPal, for example, are all fighting for a piece of the mobile payment pie. As mobile payments grow in popularity, one thing is certain – whoever wins this race will take home a pretty hefty prize.

“Who Will Win the Mobile Payments Race in 2016?” is the topic up for discussion in the latest ShopKeep video where Norm Merritt and Ramon Ray discuss this question, as well as how to be a successful retailer now that cash is out and mobile payments are in.

Whether you currently accept mobile payments or not, as a business owner, this is a trend you NEED to stay on top of.

The post New ShopKeep Video Eyes the 2016 Mobile Payments Race appeared first on SmallBizTechnology.