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Welcome to the Business Advantage
Small Business Community
Learn. Share. Thrive.
Running a small business is no easy feat. That’s why we’ve created a forum for small business ideas, insider tips, and the industry knowledge you need to help your small business grow.
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For women business owners to thrive, we need advocates more than mentors
With digital learning becoming a necessity and traditional in-person events on hold, now is a great time to create an online course. Mari Smith gives insight on how to leverage your knowledge and skills.
The 6 steps to hiring remote employees
A successful remote employee has a certain set of skills, including focus and dedication. Steve Strauss lists the six steps you should take to find and hire the right remote employees.
Live video live streaming tips to create a professional home studio
With 80% of people preferring to watch live videos rather than read a blog post, it’s time for your business to get its camera ready. Mari Smith offers tips on how to create a professional home studio without breaking the bank.
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Bank of America Small Business clients can find more information about the Paycheck Protection Program on the Bank of America website, or read our Frequently Asked Questions. We're adding more information regularly. Check back often for updates.
Note: Per our community guidelines, any posts to this community regarding a Bank of America customer service issue or complaint will automatically be moderated and may not appear on the site. |
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The world is ‘on edge’ these days. Emotions are running high. Small businesses in particular are impacted, since happy customers are the backbone of any business. Now more than ever, it’s time… (Show moreShow less)in General BusinessLike (0)
Profile Updates
In May, Facebook started rolling out Facebook Shops. This latest foray into e-commerce from the social network is designed to help businesses stay afloat as they face a challenging market. Small… (Show moreShow less)in General BusinessLike (2)
The world is ‘on edge’ these days. Emotions are running high. Small businesses in particular are impacted, since happy customers are the backbone of any business. Now more than ever, it’s time… (Show moreShow less)in General BusinessLike (1)
You're right about how people who feel the need to attack are just looking for attention. That's why I tell my team to never engage with trolls or spammers. You don't get anything out of it and you…
Here’s a quandary: How do you build and maintain company culture when your staff is working from home? Having your team remain working from home might make sense. However, maintaining cohesion,… (Show moreShow less)in General BusinessLike (1)
For minority entrepreneurs looking to start a business or otherwise get help for a business they already run, there are a number of options for financial help. Indeed, there are many loans and… (Show moreShow less)in General BusinessLike (0)
In today’s noisy digital world, prospects and customers need between 13 and 20 touchpoints before committing to a purchase. You can’t just publish a piece of content on Facebook and hope for the… (Show moreShow less)in General BusinessLike (0)
WooCommerce Vs Shopify is a long-going debate So, which platform would be your preference and why?
in TechnologyLike (1)
They're both really powerful platforms. But my vote goes to Shopify simply because its interface is easier to use compared to WooCommerce.
In today’s Internet-powered world, smart entrepreneurs and small businesses are growing faster and becoming stronger with every passing day. So, to stay on top of your business endeavor you need to… (Show moreShow less)
in Business StartupsLike (1)
Thanks for these tools, it really could help me
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On May 1, we received a Promissory Note and Attestation via Intralinks, which we signed and re-uploaded right away. On May 2, we received the "You're one step away from receiving Paycheck Protection Program funds," where we signed into Online...
On May 1, we received a Promissory Note and Attestation via Intralinks, which we signed and re-uploaded right away. On May 2, we received the "You're one step away from receiving Paycheck Protection Program funds," where we signed into Online Banking to sign Promissory Note and Attestation, which we also completed right away. It is now May 5, and we have still not received funding or any subsequent emails. I tried emailing the new PPP_Help@bofa.com email address that was posted, but have gotten no response. Does anyone have any suggestions at this point?
Has anybody received any information from Bank of America on the instructions for applying for PPP loan forgiveness? We're curious as the 8 week period starts for us, we want to make sure we're falling into the right guidelines for using...
Has anybody received any information from Bank of America on the instructions for applying for PPP loan forgiveness?
We're curious as the 8 week period starts for us, we want to make sure we're falling into the right guidelines for using the funds properly to ensure loan forgiveness, but it's difficult without knowing BoA's specific guidelines or qualifications.
Thanks!
Updated list of best seo tools for keywords research, website audit, competitor in India. Compare features, price, reviews of seo software. get free demo
Updated list of best seo tools for keywords research, website audit, competitor in India. Compare features, price, reviews of seo software. get free demo
Hi guys, I've been getting different answers from different branches, even the call centers. So I figured it's best to ask those who actually have the accounts. For Sole Props in California, we gotta use DBAs, so (based on my...
Hi guys,
I've been getting different answers from different branches, even the call centers. So I figured it's best to ask those who actually have the accounts.
For Sole Props in California, we gotta use DBAs, so (based on my understanding) the account will be under "Joe Smith DBA Companyname".
But what name is shown on your Zelle profile when you request money to people? (Assuming your names are not too long and don't get cut off by Zelle)
- Joe Smith DBA Companyname
- Companyname
- Joe Smith
Anybody recently opened a business checking account and can share this answer with me?
Thanks!
In today’s Internet-powered world, smart entrepreneurs and small businesses are growing faster and becoming stronger with every passing day. So, to stay on top of your business endeavor you need to master some of the great tools that will...
In today’s Internet-powered world, smart entrepreneurs and small businesses are growing faster and becoming stronger with every passing day. So, to stay on top of your business endeavor you need to master some of the great tools that will make all the difference in your small business success.
To beat the competition in your industry you need to implement the tools that will increase the productivity and efficiency of your team and provide you time to focus on the most important aspects of your business.
There are hundreds of marketing related, services related and modern technology related tools available online to help you grow your business. However, to choose the best ones you have to put a lot of time and efforts.
So, to save you from that hassle we have reviewed and listed 11 of the best business tools that are cost-effective and provide great values to your business.
#1 Hootsuite
Managing all social media accounts regularly and publishing new posts frequently can become an area of concern for small business owners and entrepreneurs simply due to lack of time and proper resources. After signing up for Hootsuite you can manage all your social media platforms with its simple and easy to use dashboard.
Features:
- Schedule post - You can schedule your upcoming social media posts in advance which will save you a lot of time and will keep you active on various social media channels.
- Analyze the performance - You can analyze your social media performance by tracking the number of followers you are getting, your most shared and liked posts by your audience.
- Find content - With Hootsuite you can find lots of attractive and compelling content and images which you can post on your social media channels to engage your visitors.
- Security - Hootsuite prevents your brand from all sorts of social media threats by providing its advanced social media security features.
Pricing:
- 3O Days free trial.
- Professional Plan - 29$ per month
- Business Plan - 599$ per month
#2 Slack
Slack is a communication and teamwork management tool. Slack lets you manage project works and conversation with your business partners or team members from a single platform across all devices. Using slack you can send emails, reply to text messages and follow up someone on Twitter without any headache.
Features:
- You can divide your team members according to their profiles, projects to properly monitor the work of your organization.
- Collaborate and share your channel with the companies and businesses you frequently work with to expand your business network.
- Make conversation over voice or video calls and share screen to track the progress of projects.
- With the help of slack, you can effortlessly share files, images, videos, PDFs with others and make an archive of feedback of your work.
Pricing:
- Free version
- Standard - 6.67$ per month
- Plus - 12.50$ per month
#3 Evernote
Evernote is a note-taking application which is very helpful for busy business owners and entrepreneurs. It lets you take notes of business-related ideas, plans, thoughts from anywhere in the world. Further, you can save the notes, audio recordings, photos, clipped web documents etc. in an organized way so that you can find them later easily.
Features:
- You can write your notes, collect web clippings and page screenshots, record audio notes, create a to-do list, highlight or comment on images.
- Sort your documents and important files by date, tag or title to arrange them properly.
- Share your notes with anyone in your business group.
- You can set permission-lock to prevent anyone from accessing your personal notes.
- You can convert your notes to a PowerPoint presentation with one click.
Pricing:
- Basic - Free version
- Premium - 7.99$ per month
- Business - 14.99$ per month
#4 Trello
Trello is one of the most popular projects management software to organize and track the progress of any project in your organization. You can create various cards, boards, set deadlines, add notes using your Trello account.
Features:
- Organize and plan collaborations with clients, colleagues, business owners.
- Customize your account with various tags, labels, cards, and categories.
- Upload various files and attachments.
- The mobile-friendly
- With its free version you can access some basic services, but for other advanced features, you have to subscribe to their premium plans.
Pricing:
- Free forever plan.
- Business class - 9.99$ per month
- Enterprise - 20.83$ per month
#5 Shopify
Shopify is an e-commerce software that helps you build an online e-commerce shop of your own. With the help of its marketing, drop shipping, shopping carts, SEO features you can manage all the functionalities of your online store from a single platform.
Features:
- You can use top quality themes for your website from its collection of more than 70 professional themes.
- With the help of its easy-to-customize templates, you can customize your online store according to your choice and build your brand online.
- Your Shopify store comes with an in-built mobile commerce shopping cart feature that lets your customers browse your products, services, and buy directly from their smartphones or other mobile devices.
- You can integrate your Shopify store with more than 100 payment gateways across the globe.
- You can offer free shipping services to your customers for a certain order size and price point.
Pricing:
- 14 Days of the free trial.
- Basic - 29$ per month
- Advanced - 299$ per month
#6 Skype
Skype is the world's one of the most used and recommended internet calling services offered by Microsoft. It provides audio and video calling services, messaging, file and screen sharing between computers and mobile devices across the world.
Features:
- Calling service - You can connect with your friends, families, business members, colleagues with the Skype calling service for absolutely free. You can even make a group-call with up to 25 people at once.
- Video service - You can chat through video calls and virtually interact with others face to face.
- Message service - You can send text messages, emojis, video messages, voice messages instantly using Skype.
- File sharing service - You can share documents, images, videos etc. of any size. At the same time, you can share your screen with others to track the progress of any task.
Pricing:
- Skype is free
- Skype for Business is not free
#7 Asana
Asana is a productivity tool to manage your works, projects, and daily tasks. This tool helps you grow your business and improve the efficiency of the team members.
Features:
- Plan your tasks and prioritize them according to the deadlines, and share them with the team members.
- With Asana you can track the project improvement in every step to achieve your certain business goals.
- As Asana connects with Google Drive, Dropbox, Onedrive you can easily share files and documents from your computer.
Pricing:
- Premium - 9.99$ per month
- Business - 19.99$ per month
- Enterprise - Contact sales team
#8 Boomerang
Boomerang for Gmail is an email-communication tool to improve the email service. It provides you with an option to schedule emails and monitor their performances.
Features:
- Using Boomerang, you can write your emails and schedule them to send at your preferred time.
- At times there are some important emails we need to send or receive. Using its reminder feature you can easily send, receive or follow up with people.
- Boomerang is also available for Android and iOS devices. This lets you stay connected over email on the go.
Pricing:
- Basic - Free
- Personal - 4.99$ per month
- Premium - 49.99$ per month
#9 Google Analytics
Google Analytics is one of the best analytical tools which has loads of features to improve any website’s performance. There are some of the best features available in Google Analytics which every marketer and small business owners must know to grow their businesses.
Features:
- You can track your campaigns and monitor the traffic on your website. Further, you can analyze their activities on different pages of your site.
- You can track the leads and conversions of your website by the number of requests for the product demos, email sign-ups, ebook downloading, contact form submissions, purchases etc. This will help you to target your customers according to their interests.
- You can create custom reports with the Google Analytics data according to your business goals.
Pricing: Free
#10 Hubspot
Hubspot is inbound marketing software that helps to gain more traffic to your website, generates leads and converts your website visitors to potential customers.
Features:
- Increases visitors and generates leads to your optimized landing pages.
- Follows up with the buyers through email automation system.
- Provides full customer assistance and builds relationships with your customers.
- The free version of Hubspot provides basic marketing facilities whereas the paid version gives you many other advanced marketing features.
- Hubspot is available for Windows, Mac as well as for Android and iOS devices.
Pricing:
- Free version
- Starter - 50$ per month
- Enterprise - 3,200$ per month
#11 Paypal
Paypal is one of the most used and trusted online payment service providers. Using Paypal you can make and receive payments for your business in more than 100 currencies. It is one of the fastest and safest payment options available online.
Features:
- You can make payment for any online purchases using the credit card, debit card, online banking etc. or send money to another PayPal account in 100+ different currencies.
- You can withdraw your payments from more than 200 countries using PayPal.
- You can request payments from people who don’t have a PayPal account using an email address.
Pricing:
- Free sign up.
- 3.7% of the transaction amount plus $0.30 USD
Conclusion:
Hope you have found this article helpful. Though there are plenty of tools available today, the tools we have mentioned here will fulfill most of your business requirements. Most of the aforesaid tools offer free trials, so you can include those tools in your business plan to check their effectiveness. And as your business gets bigger, you can go for the paid versions that fit your budget and resolve your business needs.
This article was brought to you by PromozSEO Web Marketing Academy, a Digital Marketing training program in Kolkata, India.
Hi, I've been approved for less than I applied for and accepted hastily. I want to return it before the safe harbor date of May 15, but have no idea how. I've called BofA, they say they will take care of it but nothing happens. When I log...
Hi, I've been approved for less than I applied for and accepted hastily. I want to return it before the safe harbor date of May 15, but have no idea how. I've called BofA, they say they will take care of it but nothing happens. When I log back into the BofA online business website it says my loan has been accepted but there are no papers. How did you receive your paperwork? In email? Anyone successful at returning funds?
Thank you, Julie Eckhardt
My business needs a website that is one of the main sources of value to the customer. It needs to provide information on the product, as well as list the customers involved in the current program using photographs and a short description. I don't...
My business needs a website that is one of the main sources of value to the customer. It needs to provide information on the product, as well as list the customers involved in the current program using photographs and a short description. I don't have a lot of web design skills. Wondering if I should create a site myself or have a professional do it? Thoughts?
Video is the new currency of the web. Surprising? Felix Kjellberg (aka PewDiePie) earns an approximate $15 million. Roman Atwood pegs at $8 million. Smosh (Ian Hecox and Anthony Padilla) pockets $7 million. All estimates as per Forbes list of 10...
Video is the new currency of the web. Surprising? Felix Kjellberg (aka PewDiePie) earns an approximate $15 million. Roman Atwood pegs at $8 million. Smosh (Ian Hecox and Anthony Padilla) pockets $7 million. All estimates as per Forbes list of 10 highest-paid YouTube stars for the 12 months ended June 2016.
The Internet and endless number of enterprise video platforms has thrown open opportunities for anyone with a passion for video to turn into sources of revenue. Video monetization is no longer buzzword for television behemoths, but for anyone who have a video library that can be streamed across the Internet.
Oh! And we missed to mention live streaming all this while. The multi-billion dollar industry is no longer restricted to broadcasting live sports events and musical shows. Enterprise video solutions now enable live streaming in education, entertainment, marketing and several other industries with great ease.
A notable provider of live streaming video solution is Brightcove who helps deliver and monetize videos across the Internet effortlessly. Brightcove extends its video facilities primarily for video publishers and broadcasters, digital marketers and enterprise users. Additionally it offers a range of other video streaming services for publishers and broadcasters for video hosting, live streaming, OTT Tv delivery, video player, live and file cloud transcoding among many others.
Here is a thorough comparison of live video streaming solutions that best fit as alternatives to Brightcove you might want to checkout.
Vplayed makes the best alternative to Brightcove video streaming. Vplayed is a top-tier video solution built for broadcasters, channel partners, content owners and publishers to launch their own typical video on demand, OTT and live streaming platform. The solution is a custom-made VOD solution that ideally compatible with any sort of industry which tends the content owners to monetize the content on various platforms. The solution is wholly packed with diverse features that put a way to streamline your content on multi platform.
This cloud-based platform is equipped with AWS cloud storage to assist in hosting of the video content in a secure and possess scalability. The end-to-end solution is armed with Content Management System which takes the responsibility of every piece of your content that tends to reach the right audience at the right time. Vplayed is inbuilt with an impressive Content delivery network that gives a promising high pixel rate video quality without any delay and also a dynamic user experience that entices the audience globally. The video on demand solution is the utmost platform that assists the content owners to store, transcode and engage a massive audience on multiple platforms.
If you are a fan of pay as you go or use policy in, then DaCast is a good choice. DaCast offers a tiered pricing package where your video streaming happens according to the bandwidth you have paid for.
Well, that’s a good thing as well as a bad thing. If your enterprise video portal picks up traffic and too many viewers started rushing to your video, you might run of bandwidth causing the stream come to a standstill. Just in case you are not sure how to calculate how much video bandwidth you will need, DaCast offers an in-built Launch Calculator to pick the right plan best fit for you.
However, there are ups that makes DaCast irresistible for video streaming. It provides a comprehensive suite of white label APIs and video tools that enhances video productivity streaming.
Contus Vplay is a comprehensive enterprise video streaming solution that allows anyone in these industries, or even outside of it trying to make their mark, launch their own online video streaming website complete with 100% customization.
Contus Vplay is offered as a readymade video on demand solution that comes equipped with multi-tier monetization for SVOD, TVOD, AVOD, pay per view and many other customizable video monetization avenues.It comes with advanced AES encryption security and user-owned digital copyrights management system, which is a curse for intruders who seek illegal access to your website. A proactive approach to track user activity with the use of customized reports and analytics gives a comparable view from your competitors.The inclusion of subscription helps in expanding the user base of your channel. You also get a 24/7 backed up customer support right from deployment to maintenance by a dedicated team of experts.
I know things are tough right now. But we've all seen throughout history that some of the best business ideas come from the toughest challenges. What new business opportunities are you starting to see? What new business do you think would...
I know things are tough right now. But we've all seen throughout history that some of the best business ideas come from the toughest challenges.
What new business opportunities are you starting to see? What new business do you think would thrive in the post-Coronavirus economy?
PPP One Steps Away (Promissory Note/Attestation) - We are sorry, you do not have access to this page
Has anyone else received the PPP One Step Away email and after clicking the Sign Your Forms link (logging into business account) received the following message? We are sorry, you do not have access to this page If you feel you received...
Has anyone else received the PPP One Step Away email and after clicking the Sign Your Forms link (logging into business account) received the following message?
We are sorry, you do not have access to this page
If you feel you received this message in error and have another username and password, please try again.
Tried multiple workarounds like:
- using my personal account login
- different browsers
- clicking email link, logging in, then clicking email link again
Any suggestions on how to access the forms?
Thanks,
Pat
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The world is ‘on edge’ these days. Emotions are running high. Small businesses in particular are impacted, since happy customers are the backbone of any business. Now more than ever, it’s time for you and your...
The world is ‘on edge’ these days. Emotions are running high. Small businesses in particular are impacted, since happy customers are the backbone of any business.
Now more than ever, it’s time for you and your employees to practice emotional intelligence. This skill set of understanding and managing your emotions, as well as those of the people around you, is essential for those in public-facing roles, both online and offline. 
Small tweaks in the way you handle customer support will make a huge difference in your business’ success, during coronavirus recovery and beyond.
Emotional Intelligence & How it Impacts You
When emotions go up, intelligence goes down. It’s that simple.
Ever notice how when a person smiles, laughs, or is kind, it can have a positive impact on your mood? The opposite is also true.
When an agitated person enters your realm, it’s human nature to get triggered and have a strong emotional reaction. This damages your health - your body gets into fight or flight mode; you release stress hormones. This can wear on your body over time, so you must be cognizant of it. Keep your immune system strong, manage your stress, and prioritize your emotional health so you can be the one having a positive effect on others.
A little bit of compassion, empathy, and genuine care goes a long way, regardless of your client or prospect’s emotional state. In fact, according to a report by the consulting firm Deloitte, customer-centric companies are 60% more profitable than companies not focused on the customer.
You can improve someone’s day by tuning in to their needs and providing them with an outstanding experience at your small business. You can even turn a wary prospect into a long-term customer simply by using solid soft skills to make them feel genuinely important.
Soft Skills that Improve Your Emotional Intelligence
Whether your interaction is in person, on the phone, or online, similar rules apply. When you are interacting with a client - whether they are in a regular or amped-up state, stay positive, helpful, and genuine.
Here are 5 key tactics that you and your team can use every day to improve your emotional intelligence.
1. Listen
When a customer is upset, don’t make assumptions or jump to conclusions. Listen deeply … listen between the lines…try to hear what’s not being said.
Within reason, allow the customer to ‘empty out’ and explain what’s happening and why they are upset. The more you can simply ‘hold space’ for this fellow human being, even for a few short moments, diffuses intense emotions.
This will make a vital difference.
2. Build Empathy
Many business communications are fragmented, fleeting and hasty. This is especially true online, but even in person people tend to be in a rush. Expressing empathy enables you to draw others out, show that you care, serve your marketplace, and enhance your small business’ reputation as a quality company.
Simple and effective ways to build empathy include:
Ask someone their name. Sometimes individuals don’t immediately reveal their first name - or else they’ll use an alias on social media. If they don’t offer their name, just ask.
- Use the person’s name. A person’s name is the sweetest sounding word in their entire vocabulary, and it’s a huge part of their identity. When you use a person’s first name in a natural way while communicating with them, you’ll instantly build more rapport and empathy. This is one of my personal favorites.
- Find out one fact about the person. If you are on the phone or in person, build rapport through conversation. If you are interacting solely online, check their bio on Twitter, Facebook, or LinkedIn (depending on where you’re communicating), or try a quick Google search to gather a bit more information about them. Once you know something about them, mention it in a natural way. It could have something to do with their profession, education, “likes,” hobbies, or some other facet of their personality or preferences. The idea is to make a genuine emotional connection.
Building empathy should be easy, since businesses are more human than ever. When you pay attention to your prospects and clients, you’ll discover that most everyone has very similar wants and needs. They want to be heard and understood, to belong, to know that they matter, and that they make a difference.
3. Take A Breath
Strive to never respond to anything when you’re emotional yourself. Remember, if you’re reactive, you’re not thinking clearly and may say something or act out in a way that you’ll later regret. Best to take a long, slow deep breath and have a method like an internal mantra, telling yourself to not take this person or situation personally.
This can often be easier to do online vs. in person, but one of my favorite mantras before hitting the send/post/update/publish button is, “What is my deepest intent?” Let me tell you, that question has kept me out of a few knee-jerk reactions over the years! For example, if my intent is to make the other person wrong, well I’m probably still triggered and need to go calm down.
If you ever face a negative situation in which you feel attacked, you have an opportunity to lead by example with grace, dignity, and compassion, best you can.
4. Prioritize Your Health
You can’t help your team, coworkers, or clients, if you’re not taking care of yourself. This includes good sleep, eating well, regular exercise, social support, and having at least one pursuit that brings you joy. Maintain your health and sense of balance with a daily self-care routine that works for you. This might include deep breathing, meditation, Quigong, yoga, or similar practices.
Keep an eye out for your coworkers and team. If someone starts to exhibit signs of ill-health and stress, find an appropriate moment to speak with them gently or let a manager know who can address the situation. The sooner you diffuse negative situations, and help someone on the road to recovery, the better.
5. Actively Check Your Social Media
Exhibiting emotional intelligence does not only apply to one-on-one customer service in your store or online. Interaction on social media also counts. Be cognizant of what your business posts, as well as how you engage with your audience online.
Much like children who throw tantrums, most individuals who feel the need to attack others online are simply seeking attention. If you respond at their level, you’re essentially giving them what they want. And, by engaging with that person publicly, you’re potentially introducing the attacker to your fans and followers. As a result, you may alienate a cross section of your own online community and target audience.
If something looks fishy, don’t let it escalate. Shut it down right away.
If you take only one thing from this article, in any and all customer situations, let this phrase be your guide: “Handle with care.”
About Mari Smith
Often referred to as “the Queen of Facebook,” Mari Smith is considered one of the world’s foremost experts on Facebook marketing and social media. She is a Forbes’ Top Social Media Power Influencer, author of The New Relationship Marketing and coauthor of Facebook Marketing: An Hour A Day. Forbes recently described Mari as, “… the preeminent Facebook expert. Even Facebook asks for her help.” She is a recognized Facebook Partner; Facebook headhunted and hired Mari to lead the Boost Your Business series of live events across the US. Mari is an in-demand speaker, and travels the world to keynote and train at major events. 
Her digital marketing agency provides professional speaking, training and consulting services on Facebook and Instagram marketing best practices for Fortune 500 companies, brands, SMBs and direct sales organizations. Mari is also an expert webinar and live video broadcast host, and she serves as Brand Ambassador for numerous leading global companies.
Web: Mari Smith or Twitter: @MariSmith
Bank of America, N.A. engages with Mari Smith to provide materials for informational purposes only, and is not responsible for, and does not guarantee or endorse any of the third-party products or services mentioned. All third-party logos and company names mentioned herein are the property of their respective owners and are used under license from Mari Smith. Consult your financial, legal and accounting advisors, as neither Bank of America, its affiliates, nor their employees provide legal, accounting and tax advice.
Bank of America, N.A. Member FDIC. ©2020 Bank of America Corporation
The world is ‘on edge’ these days. Emotions are running high. Small businesses in particular are impacted, since happy customers are the backbone of any business. Now more than ever, it’s time for you and your...
The world is ‘on edge’ these days. Emotions are running high. Small businesses in particular are impacted, since happy customers are the backbone of any business.
Now more than ever, it’s time for you and your employees to practice emotional intelligence. This skill set of understanding and managing your emotions, as well as those of the people around you, is essential for those in public-facing roles, both online and offline.
Small tweaks in the way you handle customer support will make a huge difference in your business’ success, during coronavirus recovery and beyond.
Emotional Intelligence & How it Impacts You
When emotions go up, intelligence goes down. It’s that simple.
Ever notice how when a person smiles, laughs, or is kind, it can have a positive impact on your mood? The opposite is also true.
When an agitated person enters your realm, it’s human nature to get triggered and have a strong emotional reaction. This damages your health - your body gets into fight or flight mode; you release stress hormones. This can wear on your body over time, so you must be cognizant of it. Keep your immune system strong, manage your stress, and prioritize your emotional health so you can be the one having a positive effect on others.
A little bit of compassion, empathy, and genuine care goes a long way, regardless of your client or prospect’s emotional state. In fact, according to a report by the consulting firm Deloitte, customer-centric companies are 60% more profitable than companies not focused on the customer.
You can improve someone’s day by tuning in to their needs and providing them with an outstanding experience at your small business. You can even turn a wary prospect into a long-term customer simply by using solid soft skills to make them feel genuinely important.
Soft Skills that Improve Your Emotional Intelligence
Whether your interaction is in person, on the phone, or online, similar rules apply. When you are interacting with a client - whether they are in a regular or amped-up state, stay positive, helpful, and genuine.
Here are 5 key tactics that you and your team can use every day to improve your emotional intelligence.
1. Listen
When a customer is upset, don’t make assumptions or jump to conclusions. Listen deeply … listen between the lines…try to hear what’s not being said.
Within reason, allow the customer to ‘empty out’ and explain what’s happening and why they are upset. The more you can simply ‘hold space’ for this fellow human being, even for a few short moments, diffuses intense emotions.
This will make a vital difference.
2. Build Empathy
Many business communications are fragmented, fleeting and hasty. This is especially true online, but even in person people tend to be in a rush. Expressing empathy enables you to draw others out, show that you care, serve your marketplace, and enhance your small business’ reputation as a quality company.
Simple and effective ways to build empathy include:
- Ask someone their name. Sometimes individuals don’t immediately reveal their first name - or else they’ll use an alias on social media. If they don’t offer their name, just ask.
Use the person’s name. A person’s name is the sweetest sounding word in their entire vocabulary, and it’s a huge part of their identity. When you use a person’s first name in a natural way while communicating with them, you’ll instantly build more rapport and empathy. This is one of my personal favorites.
Find out one fact about the person. If you are on the phone or in person, build rapport through conversation. If you are interacting solely online, check their bio on Twitter, Facebook, or LinkedIn (depending on where you’re communicating), or try a quick Google search to gather a bit more information about them. Once you know something about them, mention it in a natural way. It could have something to do with their profession, education, “likes,” hobbies, or some other facet of their personality or preferences. The idea is to make a genuine emotional connection.
Building empathy should be easy, since businesses are more human than ever. When you pay attention to your prospects and clients, you’ll discover that most everyone has very similar wants and needs. They want to be heard and understood, to belong, to know that they matter, and that they make a difference.
3. Take A Breath
Strive to never respond to anything when you’re emotional yourself. Remember, if you’re reactive, you’re not thinking clearly and may say something or act out in a way that you’ll later regret. Best to take a long, slow deep breath and have a method like an internal mantra, telling yourself to not take this person or situation personally.
This can often be easier to do online vs. in person, but one of my favorite mantras before hitting the send/post/update/publish button is, “What is my deepest intent?” Let me tell you, that question has kept me out of a few knee-jerk reactions over the years! For example, if my intent is to make the other person wrong, well I’m probably still triggered and need to go calm down.
If you ever face a negative situation in which you feel attacked, you have an opportunity to lead by example with grace, dignity, and compassion, best you can.
4. Prioritize Your Health
You can’t help your team, coworkers, or clients, if you’re not taking care of yourself. This includes good sleep, eating well, regular exercise, social support, and having at least one pursuit that brings you joy. Maintain your health and sense of balance with a daily self-care routine that works for you. This might include deep breathing, meditation, Quigong, yoga, or similar practices.
Keep an eye out for your coworkers and team. If someone starts to exhibit signs of ill-health and stress, find an appropriate moment to speak with them gently or let a manager know who can address the situation. The sooner you diffuse negative situations, and help someone on the road to recovery, the better.
5. Actively Check Your Social Media
Exhibiting emotional intelligence does not only apply to one-on-one customer service in your store or online. Interaction on social media also counts. Be cognizant of what your business posts, as well as how you engage with your audience online.
Much like children who throw tantrums, most individuals who feel the need to attack others online are simply seeking attention. If you respond at their level, you’re essentially giving them what they want. And, by engaging with that person publicly, you’re potentially introducing the attacker to your fans and followers. As a result, you may alienate a cross section of your own online community and target audience.
If something looks fishy, don’t let it escalate. Shut it down right away.
If you take only one thing from this article, in any and all customer situations, let this phrase be your guide: “Handle with care.”
About Mari Smith
Often referred to as “the Queen of Facebook,” Mari Smith is considered one of the world’s foremost experts on Facebook marketing and social media. She is a Forbes’ Top Social Media Power Influencer, author of The New Relationship Marketing and coauthor of Facebook Marketing: An Hour A Day. Forbes recently described Mari as, “… the preeminent Facebook expert. Even Facebook asks for her help.” She is a recognized Facebook Partner; Facebook headhunted and hired Mari to lead the Boost Your Business series of live events across the US. Mari is an in-demand speaker, and travels the world to keynote and train at major events.
Her digital marketing agency provides professional speaking, training and consulting services on Facebook and Instagram marketing best practices for Fortune 500 companies, brands, SMBs and direct sales organizations. Mari is also an expert webinar and live video broadcast host, and she serves as Brand Ambassador for numerous leading global companies.
Web: Mari Smith or Twitter: @MariSmith
Bank of America, N.A. engages with Mari Smith to provide materials for informational purposes only, and is not responsible for, and does not guarantee or endorse any of the third-party products or services mentioned. All third-party logos and company names mentioned herein are the property of their respective owners and are used under license from Mari Smith. Consult your financial, legal and accounting advisors, as neither Bank of America, its affiliates, nor their employees provide legal, accounting and tax advice.
Bank of America, N.A. Member FDIC. ©2020 Bank of America Corporation
In May, Facebook started rolling out Facebook Shops. This latest foray into e-commerce from the social network is designed to help businesses stay afloat as they face a challenging market. Small businesses can set up an online store...
In May, Facebook started rolling out Facebook Shops. This latest foray into e-commerce from the social network is designed to help businesses stay afloat as they face a challenging market. 
Small businesses can set up an online store their customers can access on Facebook and Instagram. Sure, you have your website, which will always be a valuable asset. However, your Shop, which shows up on the business’ Facebook page or Instagram profile, enables you to take your selling social. You can interact with your customers in real time and ultimately improve your bottom line.
Since Facebook prides itself on being a user-friendly platform, these Shops are designed to mimic live shopping experiences as much as possible. Businesses can choose the products they want to feature from their catalog, customize the look and feel of their shop, and communicate with customers through Instagram Direct, Messenger or WhatsApp.
Facebook wants online retailers to have a unified presence across the Facebook family of apps. Your customers can choose to check out on Facebook or Instagram and, soon, they’ll also be able to check out on WhatsApp or Messenger.
Facebook’s image recognition
For years, companies have been using images, as well as live and pre-recorded video, on social media to highlight their products and services.
Facebook’s new shopping technology takes things up several notches.
Facebook built a universal computer vision system, designed for shopping, called GrokNet. This product recognition model can identify fine-grained product attributes across billions of photos in a variety of categories.
By using artificial intelligence to automatically identify and tag products, photos become shoppable. Businesses can upload their offerings. And customers can easily find and purchase the products they seek.
AI, AR, Digital Assistants and more
Facebook will be combining artificial intelligence, augmented reality, and even digital assistants, as they build out “social first” shopping.
For instance, Facebook is creating a state of the art technique to predict layered objects, such as clothes, in photos. Additionally Facebook will be introducing Rotating View. This state-of-the-art 3D-like photo capability will allow anyone to use the camera on their phone to capture multi-dimensional panoramic views of products and then upload them.
Also coming soon is the ability to sell products during live videos. Small businesses will be able to tag products from their Facebook Shop or catalog. Then, those products will be shown at the bottom of the video so people can easily tap, learn more, and purchase.
As businesses work to find their footing, Shops is a nice addition to the small business toolkit to explore needed new revenue streams. And we all could use extra help these days.
About Mari Smith
Often referred to as “the Queen of Facebook,” Mari Smith is considered one of the world’s foremost experts on Facebook marketing and social media. She is a Forbes’ Top Social Media Power Influencer, author of The New Relationship Marketing and coauthor of Facebook Marketing: An Hour A Day. Forbes recently described Mari as, “… the preeminent Facebook expert. Even Facebook asks for her help.” She is a recognized Facebook Partner; Facebook headhunted and hired Mari to lead the Boost Your Business series of live events across the US. Mari is an in-demand speaker, and travels the world to keynote and train at major events. 
Her digital marketing agency provides professional speaking, training and consulting services on Facebook and Instagram marketing best practices for Fortune 500 companies, brands, SMBs and direct sales organizations. Mari is also an expert webinar and live video broadcast host, and she serves as Brand Ambassador for numerous leading global companies.
Web: Mari Smith or Twitter: @MariSmith
Bank of America, N.A. engages with Mari Smith to provide materials for informational purposes only, and is not responsible for, and does not guarantee or endorse any of the third-party products or services mentioned. All third-party logos and company names mentioned herein are the property of their respective owners and are used under license from Mari Smith. Consult your financial, legal and accounting advisors, as neither Bank of America, its affiliates, nor their employees provide legal, accounting and tax advice.
Bank of America, N.A. Member FDIC. ©2020 Bank of America Corporation
Here’s a quandary: How do you build and maintain company culture when your staff is working from home? Having your team remain working from home might make sense. However, maintaining cohesion, productivity, positivity and...
Here’s a quandary: How do you build and maintain company culture when your staff is working from home?
Having your team remain working from home might make sense. However, maintaining cohesion, productivity, positivity and connection – all hallmarks of a good company culture – are challenging when your team is virtual.
So, what to do? Communication is the key, especially in a remote work environment.
Here are 5 communication tips for helping you maintaining a solid, positive workplace culture, even when your team is working from home:
1. Spell out your mission, purpose and policies: In order for people to navigate an at-home working environment, it is important to make sure that every person on the team understands your mission is, what their role is, and why they are vital to the business and that mission.
Reviewing the business’ purpose should be a valuable exercise. For newer employees, it can be the type of reinforcement they need to be able to keep the faith and do their job when there is little physical support structure in place. And for the seasoned employees, it can be a good reminder for those who may have become a bit jaded, or forgetful of the company’s goals.
Additionally, sending out a list of company policies and procedures can reinforce your rules and expectations, and give guidelines for operating while working remotely. These things can add to a culture of transparency and, by giving your employees the information they need, can encourage clear communication.
2. Weekly Zoom or Skype group meetings: Another good way to encourage clear communication is by hosting weekly video chats. While you can’t meet in person, Zoom, FaceTime, Skype, or another service can provide an excellent way for your staff to meet and discuss what is in store.
During this time, you can ask your employees if they have any questions or concerns, and create goals for the upcoming week, month, or quarter. This is a great way to create that human connection.
3. Schedule regular 1:1 time: Making sure you meet face to face is important to relationship building and camaraderie in any office setting – but probably even more so when it comes to working remotely. Setting up specific times for video one on ones allows employees to feel like their individual voices are being heard and matter. It also allows for the manager to give feedback and constructive criticism.
These meetings can and should also occur for small work groups. Giving your teams weekly facetime can ensure needed collaboration, discussions and transparency.
4. Provide avenues for socialization: When it comes to creating camaraderie and culture, not only is providing space to communicate about work important, but equally vital is providing time for your employees to socialize, albeit virtually. It is incumbent upon management to re-create the water cooler online. Many organizations do this by using Slack channels where employees can chat and discuss things outside of the organization.
Additionally, some companies set up game nights, remote exercise lunches, and similar events to get employees to stay active and involved. While the office doesn’t exist in the physical right now, creating online events and places where people can be social is an important tool for maintaining good employee relations and company morale.
5. Ask for feedback and adjust accordingly: Last but not least - ask your employees for feedback! You can do this during Zoom calls, one-on-one chats, and you can even create an inbox where employees can leave suggestions and feedback anonymously.
Then respond to the feedback and adjust accordingly. Listened to employees are happy, empowered employees. This in turn fosters a culture of constructive criticism, corrective behavior, and employee empowerment for your small business.
Suggested Reading: Why You Should Ditch Annual Reviews and Create an Employee Feedback Loop
Creating a positive culture remotely is challenging, yes, but no less possible than in a physical setting – if you are creative and communicative.
About Steve Strauss
Steven D. Strauss is one of the world's leading experts on small business and is a lawyer, writer, and speaker. The senior small business columnist for USA Today, his Ask an 
Expert column is one of the most highly-syndicated business columns in the country. He is the best-selling author of 17 books, including his latest, The Small Business Bible, now out in a completely updated third edition. You can also listen to his weekly podcast, Small Business Success.© Steven D. Strauss
Web: www.theselfemployed.com or Twitter: @SteveStrauss
You can read more articles from Steve Strauss by clicking here
Bank of America, N.A. engages with Steve Strauss to provide materials for informational purposes only, and is not responsible for, and does not guarantee or endorse any of the third-party products or services mentioned. All third-party logos and company names mentioned herein are the property of their respective owners and are used under license from Steve Strauss.Consult your financial, legal and accounting advisors, as neither Bank of America, its affiliates, nor their employees provide legal, accounting and tax advice.
Bank of America, N.A. Member FDIC. ©2020 Bank of America Corporation
For minority entrepreneurs looking to start a business or otherwise get help for a business they already run, there are a number of options for financial help. Indeed, there are many loans and grants available and allocated for minority-owned...
For minority entrepreneurs looking to start a business or otherwise get help for a business they already run, there are a number of options for financial help.
Indeed, there are many loans and grants available and allocated for minority-owned businesses – from the government, to banks, to nonprofits, and more. But where to get started? To help, here are some of the best options:
1. Minority Business Development Agency: The Minority Business Development Agency (MBDA) is a part of the U.S. Department of Commerce, and it seeks to provide aid to minority-owned businesses to help them grow. The agency provides a variety of financing options for minorities, such as grants, and access to venture capital specifically geared towards minority-owned businesses.
The MBDA also has MBDA Business Centers across the country, which provide financial advice for businesses: How to secure loans, get contracts, and more. Click here to find a MBDA Business Center in your area.
2. Community Development Financial Institutions: The Community Development Financial Institutions (CDFI) Fund awards money to historically underrepresented communities and organizations in order to foster minority entrepreneurship, including ones that are supported by Bank of America.
The biggest contributor to CDFIs in the United States is Bank of America, with more than $1.6 billion in loans and investments to more than 250 CDFIs. “Bank of America supports local economies by partnering with community development financial institutions across the U.S., and Puerto Rico and the District of Columbia .”
3. Small Business Administration: The Small Business Administration (SBA) is a federal government agency and another great resource for minorities to receive funding as it is the biggest loan guarantor in America. (Note: The SBA does not make loans, it guarantees loans made by private institutions. Bank of America is an SBA Preferred Lender) There are many SBA-backed loan options, ranging from $500 to more than $5 million.
While most SBA loans are not intended specifically for minority entrepreneurs, the Community Advantage Loan Program offers loans up to $250,000 for businesses in historically under-served markets. In addition, the SBA also provides specific resources for minority owned businesses with the 8(a) Business Development Program. This program offers minority-owned businesses opportunities to receive government contracts, as well as offers financial information and workshops to said business owners.
4. Local funding: One of the best resources may actually be in your own backyard. Funding is often available from regionally based organizations, specifically geared towards minority business owners. This includes opportunities provided by your local or state governments, and also local credit unions and banks.
Especially in the wake of COVID-19, many states and local organizations have set aside grants specifically for minority business owners. Do some research on your state and local organizations, because many will be able to provide you with financial help.
5. Grants.gov: While looking for state based grants and loans largely depends on what’s happening locally, the best place to look for federal grants is through Grants.gov. Grants.gov has thousands of grants that may be beneficial to your business. Grants are provided to businesses who can aid the government in “projects to provide public services and stimulate the economy.”
6. Accion: Accion is a non-profit that offers loans to low-to-moderate-income businesses that don’t usually qualify for traditional lending. As such, it can be a very good option for minority business owners and new entrepreneurs. It has offices in 50 states, offering loans from $200 up to $300,000.
So yes, there are many options out there for the minority-owned small business to get the money it needs. This list is a great starting place to begin your search. Good luck!
About Steve Strauss
Steven D. Strauss is one of the world's leading experts on small business and is a lawyer, writer, and speaker. The senior small business columnist for USA Today, his Ask an 
Expert column is one of the most highly-syndicated business columns in the country. He is the best-selling author of 17 books, including his latest, The Small Business Bible, now out in a completely updated third edition. You can also listen to his weekly podcast, Small Business Success.© Steven D. Strauss
Web: www.theselfemployed.com or Twitter: @SteveStrauss
You can read more articles from Steve Strauss by clicking here
Bank of America, N.A. engages with Steve Strauss to provide materials for informational purposes only, and is not responsible for, and does not guarantee or endorse any of the third-party products or services mentioned. All third-party logos and company names mentioned herein are the property of their respective owners and are used under license from Steve Strauss.Consult your financial, legal and accounting advisors, as neither Bank of America, its affiliates, nor their employees provide legal, accounting and tax advice.
Bank of America, N.A. Member FDIC. ©2020 Bank of America Corporation
In today’s noisy digital world, prospects and customers need between 13 and 20 touchpoints before committing to a purchase. You can’t just publish a piece of content on Facebook and hope for the sales to come. Sure, these...
In today’s noisy digital world, prospects and customers need between 13 and 20 touchpoints before committing to a purchase. You can’t just publish a piece of content on Facebook and hope for the sales to come. 
Sure, these touches include social media posts, but also email communication, watching videos, and browsing your website or store, as well as live interaction, such as speaking by phone and engaging via direct message.
Call it TLC or your customer service journey, the act of giving your prospect the care and information they deserve is a process called a ‘funnel.’ And, when you have the right one in place, incorporating organic and paid touches, you have set your small business up for success.
The Facebook Mix: Organic vs Paid Reach
Facebook’s platform can be frustrating for many small business owners. They may experience difficulty in properly identifying and finding their perfect audience, and more often than not, get very low organic reach on their Facebook business page. Then, when they try to understand how to optimize paid campaigns, they don’t quite know where to focus for maximum results.
Here’s the thing: since 2014, organic reach has been at an average of 1% to 6%. Since many small business owners do not realize this, they continue to post organic content with no paid campaigns, and their content gets very little reach, engagement, and results.
The secret is to find the right mix between organic and paid. Investing even in a small Facebook ad budget can make all the difference. It’s counterintuitive but it does work. You could get at least a 2, 5 or even 10 times return on your investment.
I always recommend crafting organic content that is “boost worthy.” That is, create posts that you’d happily convert into a paid placement once you see your audience is responding.
Your good content gets noticed and then more people will notice your good content. Win-win!
Facebook Audiences
Before you jump into the funnel, be clear on who your audience is. Customers? Prospects? Is it everyone who likes or follows your Facebook page? Or not?
Map out your customer avatar, often called a persona. This includes likes, interests, demographics, etc. It’s anything and everything that will help you hone in on everyone you want to reach.
Think of the funnel with three distinct stages:
- Top of funnel – TOFU
- Middle of funnel – MOFU
- Bottom of Funnel – BOFU
Whether you do your Facebook marketing completely organically (no ad spend) or you invest in paid campaigns, you’ll want to lead your audience through all three phases.
To make things super-easy, inside Facebook Ads Manager, there are three clear categories of ad objectives. And each of them maps perfectly to the top, middle and bottom of the sales funnel.
- Awareness (TOFU)
- Consideration (MOFU)
- Conversion (BOFU)
Think of the sales funnel in these 3 buckets. People go from Cold to Warm to Hot Prospects … and then onto Paying Customers.
Cold Audience: There are people who have never heard of you. They are complete strangers, so you need to make them aware of your business, brand, products, services, offers, and so on.
Warm Audience: These people are already familiar with your business and what you do. They have not yet made a purchase, but are considering it.
Hot Audience: These are your hottest prospects. They are now very familiar with you and are about to make a purchase. They’re on their way to convert from prospect to buyer.
Facebook enables you to target all three audiences, so you can very easily walk people through each stage of your funnel.
A Custom Audience
Facebook also gives you the ability to create what are called Custom Audiences. You can upload your own opt-in email subscriber list to match with Facebook users and retarget these people. Facebook hashes the data and it’s a perfectly normal practice, used for years by small and large businesses alike.
Alternatively, when you have the Facebook pixel installed on your website, you have the ability to retarget specific landing page visitors. For instance, if someone lands on your product page but does not make a purchase, you would retarget them to nudge them back to the product page.
Another way to retarget is by building an audience of people who have engaged with your content on Facebook and/or Instagram. People who have watched three seconds or more of your videos can be “reminded” about your business or service.
Expand Custom Targets
Facebook also lets you create what are called Lookalike Audiences. This is an extremely powerful tool. You start with a core Custom Audience and the magic Facebook algorithms go out and build you a fresh new audience, often in the millions, of potential leads and customers.
Here are some examples of Custom audience type:
- Cold: Saved audiences from demographics and interests you’ve selected. These could also be from website visitors, e-mail lists and video views audiences.
- Warm: People who have engaged with your Facebook or Instagram Page in the past 7 to 30 days, and viewed your videos.
- Hot: Those who visited your website landing page, messaged your page, interacted with a Lead Form ad, or opted-in to your lead magnet.
Once you have your custom audience created you can use Facebook’s Lookalike Audiences to expand to similar users and capture more potential customers in your sales funnel.
The Funnel Strategy
Here’s my recommended Facebook ad strategy for leading your target audience through your sales funnel with paid campaigns.
Top of Funnel:
● Content: Create a 30- to 60-second video that captures attention instantly. Be sure to place your brand, logo, and message within the first 3 seconds. First, publish it as an organic post on your Facebook page, and allow up to 24 hours of organic reach. Then make it into an ad using Ads Manager. (By the way, even a small budget on promoting a post can increase your organic reach as well!)
● Purpose: You want to build awareness. This content - focusing on storytelling - should educate, inform, inspire or entertain.
● Ad Objective: Video views, reach, or engagement. Your main goal is to expand your audience and build awareness so you can retarget in the next two phases.
● Cold Target Audience: Saved (what you created using all your specific customer demographics) and/or a Lookalike Audience
● Budget: Allocate approximately 25%
Middle of Funnel:
● Content: Create a 15- to 30-second video that includes much of the same visuals and narrative of your TOFU video.
● Purpose: The idea is to continue the same storytelling narrative, and entice the audience to want to know more … now! With this piece, you may want to include customer examples, highlight benefits, and/or show solutions.
● Ad Objective: Video views, lead generation, messages (get people to DM you on Facebook), or traffic (send to a unique landing page for this campaign).
● Warm Target Audience: These should be people who watched your first video. You may also want to include people who have engaged with your Facebook page and/or Instagram profile.
● Budget: Allocate approximately 50%
Bottom of Funnel:
● Content: Create a 5- to 15-second video continuing on the same narrative. You want to use a subset of visuals from your TOFU/MOFU videos - familiar content that gets right to the point!
● Purpose: Here you want to promote a special offer with a strong CTA (call-to-action).
● Ad objective: Conversions, Traffic, Catalog Sales or Store Traffic.
● Hot Target Audience: Use Custom Audiences, based on your e-mail list of interested prospects, or from your Lead Form ads, Messenger ads, or visitors to a specific landing page. Your focus is on converting people into customers or clients who are now familiar with you, your company, campaign and offer.
● Budget: Allocate approximately 25%
You’ll notice the suggested video lengths get shorter as you move prospects through the funnel. This is similar to television advertising where you might see a longer commercial then the same ad keeps repeating but it gets shorter and shorter.
That’s because advertisers know you don’t need to keep seeing the entire long ad. Repetition and retargeting really does work.
A Final Thought
One big mistake I see Facebook advertisers making time and again is they want to go straight to the bottom of the funnel. They think they can get that sale right away.
When they use all their budget on a cold audience, it’s typically a waste. Facebook ads rarely work well that way.
When building your funnel, remember: You want to turn prospects into loyal customers by creating a bond between your strangers and your brand. Introduce audiences to your business, your products, and/or services. Allow them to get to know, like, and trust you.
Build that interest and engagement, and loyal customers with higher lifetime value is sure to follow.
About Mari Smith
Often referred to as “the Queen of Facebook,” Mari Smith is considered one of the world’s foremost experts on Facebook marketing and social media. She is a Forbes’ Top Social
Media Power Influencer, author of The New Relationship Marketing and coauthor of Facebook Marketing: An Hour A Day. Forbes recently described Mari as, “… the preeminent Facebook expert. Even Facebook asks for her help.” She is a recognized Facebook Partner; Facebook headhunted and hired Mari to lead the Boost Your Business series of live events across the US. Mari is an in-demand speaker, and travels the world to keynote and train at major events.
Her digital marketing agency provides professional speaking, training and consulting services on Facebook and Instagram marketing best practices for Fortune 500 companies, brands, SMBs and direct sales organizations. Mari is also an expert webinar and live video broadcast host, and she serves as Brand Ambassador for numerous leading global companies.
Web: Mari Smith or Twitter: @MariSmith
Bank of America, N.A. engages with Mari Smith to provide materials for informational purposes only, and is not responsible for, and does not guarantee or endorse any of the third-party products or services mentioned. All third-party logos and company names mentioned herein are the property of their respective owners and are used under license from Mari Smith. Consult your financial, legal and accounting advisors, as neither Bank of America, its affiliates, nor their employees provide legal, accounting and tax advice.
Bank of America, N.A. Member FDIC. ©2020 Bank of America Corporation
Small Business Story Collection: Celebrating the Power of Women Women small business owners are paving the way. This collection highlights how to embrace the unique challenges women face and thrive as small business owners. ...
Small Business Story Collection: Celebrating the Power of Women
Women small business owners are paving the way. This collection highlights how to embrace the unique challenges women face and thrive as small business owners.
Additional Resources
How powerful has video become to engage an audience? According to the Livestream blog, 80% of people would rather watch a live video from a brand than read a blog post. Plus, 82% prefer live video over a brand’s social posts. If live...
How powerful has video become to engage an audience? According to the Livestream blog, 80% of people would rather watch a live video from a brand than read a blog post. 
Plus, 82% prefer live video over a brand’s social posts.
If live video is not already part of your business’s social media strategy, it’s time to get on board. And while you can simply use your smartphone, going for better quality will make you stand out. The 90% of Facebook viewers who believe video quality is the most important aspect should be reason enough for small businesses to direct some resources toward production gear.
Even a nominal investment in lighting, camera and sound will make a big difference to the quality of your videos, enabling you to stand out in the news feed.
I’ve been live streaming from my home studio for over 15 years. Since Facebook Live launched five years ago, I upped the quality of my broadcasts with even better equipment. I’ve received tremendous feedback over the years from my audience. I’ve been recruited by leading brands such as AT&T, Adobe, Verizon, Bank of America, HubSpot, and Cision to lead on-camera webinars. And, I’ve appeared on TV interviews with the likes of BBC Newsnight where the producers were amazed by my video quality and that I was streaming from my own studio.
The best part? It did not cost me a lot of money. Here are live video streaming tips for creating your own home studio.
3-Point Lighting
Bright, well-lit videos are eye-catching and jump off the screen. That’s why lighting is so important. Some simple additions to your home studio or office set-up will make your lighting much more robust.
You want to create light in front of you and along either side. And, ideally some back-lighting, too.
Ring Lights: Often referred to as the “Diva Light,” you’ll find a variety of options for this type of light, which is placed in front of you when recording. The ring light casts a lovely soft light on your entire face and shows a circle reflection in your eyes. This is key. You want your viewers to be able to see the light reflected in your eyes.
I like the Video Lighting Kit by Neewer. This 18” (48cm) Dimmable LED Ring Light comes with a light stand, as well as white and orange filters. I highly recommend using the filters; I split them so I have two white and two orange filters.
Side Lights: In addition to the ring light, add fill lights on either side of you. You’ll get that lovely, professional look and feel. Simply place one light on either side of your camera/webcam/computer. There is a wide variety of choices here, depending on the space you have. Perhaps experiment with a tabletop fluorescent light or a tabletop and standing lamps. A great option is these Neewer Video Lights and Stand Kit; they have a nifty dimmer switch so you can easily adjust brightness as needed and cost about $200.
Studio Lights: If you have the space for an in-home studio with a bigger footprint, definitely look into a pair of soft box lights with diffusers. You would purchase these instead of the tabletop lights. For example…
A Quality Camera
A camera is what makes all the difference to the stunning, professional look you can create for your live streaming. However, without the right 3-point lighting, your good camera won’t create the same impact.
Most people stick with their laptop or desktop computer’s built-in camera. But I strongly recommend going for a better-quality external camera, either an affordable webcam or, better, a DSLR camera if you can. (You may even have one!) By investing in a good DSLR camera and 50mm lens—along with the 3-point lighting setup—you will literally look more life-like! You’ll look 3D, jumping off the screen. And, guess what? With the lights reflected in your eyes and the depth of field, you look more human and people feel more deeply connected to you. This is a very good thing in today’s world.
Webcam: If you wanted to level up your video quality just a bit from your built-in camera, you could get an inexpensive external USB webcam such as the Logitech BRIO – Ultra HD Webcam (around $200), which includes a built-in microphone.
DSLR: But, to really stand out on Facebook, YouTube, all other social channels, and in your Zoom meetings, you can create television-quality video with a DSLR camera. A professional camera with a good lens will give you that lovely depth of field and beautiful video quality. Any brand or model of DSLR camera should work.
My favorite is the Sony a6500 4K Mirrorless Camera with a 50mm lens (my team and I call it ‘the nifty fifty;’ this lens will give you a nice, soft focus and terrific depth of field). Place the camera on a tripod about six feet in front of you. And, ideally have something in the background about six feet behind you that will look blurry. Not just a blank wall as the depth of field won’t quite look the same.
The Canon EOS Rebel T6 Digital SLR Camera is also a great choice. Or, check out Nikon cameras, if you prefer.
Capture Device: You will need a convertor in order to connect a DSLR camera to your computer. The Elgato Cam Link 4K is super popular and works really well. (Check if your camera is compatible here before ordering.) Plus, a HDMI cable; your DSLR camera needs to output video via a mini or micro HDMI output jack. The cable goes into your camera and into the standard HDMI port of the Cam Link, and the USB on the other end goes into your computer.
AC Power Adaptor Kit: If you are live streaming, be aware that most cameras will auto shut off after 30 minutes when running on battery. You definitely want to avoid this happening so be sure to get the right AC power adaptor for your DSLR camera; it fits in the battery slot.
Quality Microphone
Once your lighting setup looks great, you’ll want to ensure you have the perfect audio. People will forgive grainy, lower resolution video and a shaky camera. But they’ll quickly switch off if the audio quality is poor!
When you do Facebook Live broadcasts, webinars and Zoom meetings from your desktop, you’ll need to decide whether or not you want your microphone in the frame. Using a boom mic clipped to my desk, I’m usually able to place my mic just below the camera frame. Or, there are overhead booms that work just as well.
While some folks are fine using a headset mic, I am not a fan of this look. When was the last time you saw a news anchor or talk show host wearing a headset microphone? Right, me neither!
For my professional microphone, I have the Heil PR-40 Broadcast Quality Microphone Bundle – at about $330. It’s the HeiL PR-40 mic, shock mount, and boom. Plus, to make the mic work on your computer, you’ll also need an adaptor to convert from XLR to USB. I use this one by Shure.
The Audio-Technica AT2005USB dynamic mic is an excellent, more affordable choice at $160. You’ll need to do some sound tests to see how close you need to be. I have this mic, as well as the shotgun Sennheiser MK 600 - $325 – that gets placed above your camera out of the frame.
I’ve gone through many mics over the years; each has its pluses and minuses. Sometimes you have to test to see what works best for your needs.
Look and Sound Like A Pro!
Trust me, your level of production value will place your livestreams head and shoulders above the competition. Now, more than ever, with the whole world using tech to stream events, meetings and social media live broadcasts, it’s time to increase your production value.
Try not to be overwhelmed by all the choices.
Keep your setup as simple as possible. Get the 3-point lighting set up. Then, improve your audio quality. Then, upgrade your camera. Or, maybe you already have a good camera and just didn't realize you could connect it to your computer! Start small!
About Mari Smith
Often referred to as “the Queen of Facebook,” Mari Smith is considered one of the world’s foremost experts on Facebook marketing and social media. She is a Forbes’ Top dia Power Influencer, author of The New Relationship Marketing and coauthor of Facebook Marketing: An Hour A Day. Forbes recently described Mari as, “… the preeminent Facebook exper
t. Even Facebook asks for her help.” She is a recognized Facebook Partner; Facebook headhunted and hired Mari to lead the Boost Your Business series of live events across the US. Mari is an in-demand speaker, and travels the world to keynote and train at major events.
Her digital marketing agency provides professional speaking, training and consulting services on Facebook and Instagram marketing best practices for Fortune 500 companies, brands, SMBs and direct sales organizations. Mari is also an expert webinar and live video broadcast host, and she serves as Brand Ambassador for numerous leading global companies.
Web: Mari Smith or Twitter: @MariSmith
Bank of America, N.A. engages with Mari Smith to provide materials for informational purposes only, and is not responsible for, and does not guarantee or endorse any of the third-party products or services mentioned. All third-party logos and company names mentioned herein are the property of their respective owners and are used under license from Mari Smith. Consult your financial, legal and accounting advisors, as neither Bank of America, its affiliates, nor their employees provide legal, accounting and tax advice.
Bank of America, N.A. Member FDIC. ©2020 Bank of America Corporation
Instagram has been testing what would appear to be a radical departure for the social network: removing likes. Facebook, which owns Instagram, is considering as well. Plus, there's buzz that Twitter may join the party and hide like counts. ...
Instagram has been testing what would appear to be a radical departure for the social network: removing likes. Facebook, which owns Instagram, is considering as well. Plus, 
there's buzz that Twitter may join the party and hide like counts.
While this may seem like a reason for marketer panic, it isn’t ... or shouldn’t be.
Although likes are a nice ego-boost metric, it’s well known that liking a post is the most low-maintenance way to engage. Rather, a comment, a share, or substantial video watch-time is a much better indicator of how much your content resonates with your audience. Therefore, it’s important to remember that removal of public-facing like counts is not the end of the world. In fact, it’s simply a reminder that you need to find other ways to analyze audience affinity and engagement.
Could Instagram actually be doing marketers a favor?
When Instagram first announced its decision to test removing like counts, I, like many others, questioned the reasoning. “We want your friends to focus on the photos and videos you share, not how many likes they get,” Instagram said in July 2019. “You can still see your own likes by tapping on the list of people who've liked it, but your friends will not be able to see how many likes your post has received.”
The theory was that like counts foster competition, and the goal of Instagram was to encourage connection and community. A healthy environment was top priority. "We want [Instagram] to be a place where people spend more of their energy connecting with the people that they love and the things that they care about," explained Instagram CEO Adam Mosseri.
While the whole move was positioned as a mental health play - removing likes will help alleviate cyberbullying and downplay competition - I still had doubts. It just didn’t ring true that this was the genuine reason that Facebook/Instagram deeply cared so much. Of course, I believe the company cares about their users’ well-being. However, they also care about making money and ensuring the longevity of their platforms.
So how would hiding likes improve Instagram’s - and Facebook’s - bottom line? I got my answer when more information surfaced last month. Suddenly it started to make sense.
Three former employees told CNBC that there is a hypothesis inside Facebook’s growth and data science teams: Removing “likes” may be an effective tactic for getting users to post more original content on Instagram.
“The theory goes that by hiding like counts, users may feel less self-conscious when they post photos or videos that don’t receive many likes,” the article states. “This in turn may serve as a catalyst for getting users to post more often.”
Translation: If users weren’t so hung up on public-facing engagement numbers, maybe they’d feel more compelled to publish more content. And, publishing more content means they would spend more time on Instagram. And more time on Instagram means there would be more users for advertisers to target.
Anyone who still has concerns about like-counts being removed only needs to look at Instagram Stories for proof that all will be okay. Social engagement metrics on Stories have never been public-facing. Users and marketers are not consuming other people's Story content, wondering how many people engaged with it, how many people responded to the poll, or answered the questions. They just engage. That’s what’s most important to businesses… and marketers: engagement.
Bottom line: Marketers need not worry too much about hidden likes.
Note that Facebook is also in the midst of testing hiding video view counts. Personally, I really like video view counts as invariably that gives me a strong indication - and sometimes legitimacy - of the content. I find it a tad frustrating when I cannot (easily) find the number of video views on other people’s Facebook videos! Whether that’s a long-term problem remains to be seen.
Moving forward, marketers need to concentrate on creating quality, relevant content for their followers. Focus on engaging with your audience in new ways, such as further integrating the Stories format, as well as video, including Live video and building community in Facebook Groups.
The removal of public-facing like counts should not make any difference to marketers on Instagram, Facebook, or any other social platform. While it seems to be affecting influencers to some degree, that may be a good thing. It will shake out any unethical behaviors, such as artificially inflating numbers, buying followers, etc. In its place will be highly engaged users on the friendly, community-building platform that Instagram wants to be.
About Mari Smith
Often referred to as “the Queen of Facebook,” Mari Smith is considered one of the world’s foremost experts on Facebook marketing and social
media. She is a Forbes’ Top Social Media Power Influencer, author of The New Relationship Marketing and coauthor of Facebook Marketing: An Hour A Day. Forbes recently described Mari as, “… the preeminent Facebook expert. Even Facebook asks for her help.” She is a recognized Facebook Partner; Facebook headhunted and hired Mari to lead the Boost Your Business series of live events across the US. Mari is an in-demand speaker, and travels the world to keynote and train at major events.
Her digital marketing agency provides professional speaking, training and consulting services on Facebook and Instagram marketing best practices for Fortune 500 companies, brands, SMBs and direct sales organizations. Mari is also an expert webinar and live video broadcast host, and she serves as Brand Ambassador for numerous leading global companies.
Web: Mari Smith or Twitter: @MariSmith
Bank of America, N.A. engages with Mari Smith to provide materials for informational purposes only, and is not responsible for, and does not guarantee or endorse any of the third-party products or services mentioned. All third-party logos and company names mentioned herein are the property of their respective owners and are used under license from Mari Smith. Consult your financial, legal and accounting advisors, as neither Bank of America, its affiliates, nor their employees provide legal, accounting and tax advice.
Bank of America, N.A. Member FDIC. ©2020 Bank of America Corporation
Management expert Peter Drucker is often quoted as saying, “You can’t manage what you can’t measure.” In order to grow and improve your business, you have to be able to measure and monitor the right metrics. This...
Management expert Peter Drucker is often quoted as saying, “You can’t manage what you can’t measure.” In order to grow and improve your business, you have to be able to measure and monitor the right metrics.
This applies to everything in your business.
Yet determining the right metrics to measure, and understand, is not so simple.
Proxy metrics (or Vanity metrics) vs. sales metrics
On Facebook’s Q4 2016 earnings call held on February 1, 2017, COO Sheryl Sandberg stated that all ads should drive business. She made the distinction between sales metrics and ‘proxy metrics,’ which includes fanbase size, reach, engagement and video views.
“We really believe that at the end of the day what matters the most is all the way through to sales. What matters the most is the A/B test that these people saw ads on Facebook and Instagram, these people didn’t, and here’s the sales lift. And all of the other metrics,” Sandberg said, “are proxy metrics.”
Of course, this is not what most businesses want to hear. We’ve all been trained to believe more is better. That we ought to strive for more fans, more reach and more engagement.
But, generally speaking, those numbers are all vanity metrics.
Marketers need to see the metrics all the way through to the final goal and focus on the right metrics – those that generate revenue.
It’s important to separate out your KPIs (key performance indicators) into the right categories and report the relevant data to the right person within your business.
For example, brand awareness, social media and engagement metrics should be reporting to the CMO/marketing manager/community manager. Whereas, lead generation and sales metrics are what the CEO and CFO mostly want to know. If you report the number of retweets or video views in a week to your CEO and CFO, they may wonder how that translates to actual bottom line dollars.
Following are some suggested metric categories:
- Brand awareness metrics include social media reach, brand mentions, brand searches, media mentions and website traffic.
- Social media metrics include number of likes/fans/followers, post reach and impressions.
- Engagement metrics include people who have clicked, liked, commented on or shared your social media posts; people who have viewed your videos; number of retweets and more. This stat could also include the number of subscribers opening your emails and clicking on links.
- Lead-generation metrics include landing page visits, click-through rate, completed registrations and conversion rates. In other words, any activity that moves the prospect from being an engaged member of your social media channels to becoming a contactable prospect. This can include the prospect submitting their phone number, email address, mailing address or contacting you via Facebook Messenger, Instagram Direct or WhatsApp.
- Sales metrics include appointments scheduled, applications submitted, add-to-cart, initiate checkout, add payment details, and, of course, completed purchases.
“In God we trust, all others must bring data.” – W. Edwards Deming
Tools for measuring your online activity
You may already have a reliable set of tools you use to track an array of metrics in your business. Here are a few of my own favorites:
Facebook Insights: You’ll find these metrics on the “Insights” tab of your Facebook business page. For mobile, use the Facebook Pages Manager app (iOS) (Android) and also check out the Facebook Analytics app. Metrics include Likes, Followers, Page Views, Actions on Page, Video views, Audience retention, Engagement and more.
For video content, I recommend clicking in to each video to study the breakdown of metrics. Otherwise, you can keep an eye on the Overview > Page Summary insights for the past 7 or 28 days and export the data to a spreadsheet for further analysis.
Twitter Analytics: These are at the top right of your Twitter profile or at analytics.twiter.com. View your tweet impressions, engagement, and engagement rate. Pay particular attention to your top tweets and do more of what’s working.
AgoraPulse: This is a terrific all-in-one tool for scheduling and managing all your social media channels. The Reports section has colorful charts that are easy to read and may be a great addition to your analysis.
BuzzSumo: One of my favorite tools, this platform allows you to study how well your own social posts are doing along with any competitor’s posts. Plus, you can use the tool to discover what headlines and topics are doing well, identify key influencers, see what’s trending and more.
One stop data dashboard
If looking at an array of metrics from a wide variety of sources is challenging for you, you might enjoy a great solution called Klipfolio.
Klipfolio is a tool to create an all-in-one dashboard with visual analytics for all of your metrics at your fingertips. You’ll be able to instantly spot trends and see how your business is performing. Compare this month to last month or the same period last year with a single click. Use filters, segments, and automatic trend lines.
Cash flow dashboard
Just as you need to closely track and measure sales and marketing metrics, you definitely need to do the same with your business finances. Bank of America Business Advantage 360 offers an innovative new cash flow dashboard where you can see a 360° view of your business’ financial position or picture in a compelling, visual layout.
Business Advantage 360 is a one-stop ‘digital control center.’ Accessible online and on mobile, this new seamless and integrated digital platform is designed to help you get more time back in your day by helping you manage all financial aspects of your business.
BA360 empowers you as a busy business owner to optimize your time and resources and gain deeper perspective on your business so you can get back to doing what you truly love – focusing on the mission and success of your enterprise!
About Mari Smith
Often referred to as “the Queen of Facebook,” Mari Smith is considered one of the world’s foremost experts on Facebook marketing and social media. She is a Forbes’ Top Social Media Power Influencer, author of The New Relationship Marketing and coauthor of Facebook Marketing: An Hour A Day. Forbes recently described Mari as, “… the preeminent Facebook expert. Even Facebook asks for her help.” She is a recognized Facebook Partner; Facebook headhunted and hired Mari to lead the Boost Your Business series of live events across the US. Mari is an in-demand speaker, and travels the world to keynote and train at major events.
Her digital marketing agency provides professional speaking, training and consulting services on Facebook and Instagram marketing best practices for Fortune 500 companies, brands, SMBs and direct sales organizations. Mari is also an expert webinar and live video broadcast host, and she serves as Brand Ambassador for numerous leading global companies.
Web: Mari Smith or Twitter: @MariSmith
Bank of America, N.A. engages with Mari Smith to provide materials for informational purposes only, and is not responsible for, and does not guarantee or endorse any of the third-party products or services mentioned. All third-party logos and company names mentioned herein are the property of their respective owners and are used under license from Mari Smith. Consult your financial, legal and accounting advisors, as neither Bank of America, its affiliates, nor their employees provide legal, accounting and tax advice.
Bank of America, N.A. Member FDIC. ©2020 Bank of America Corporation
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Rieva Lesonsky is a columnist for The Small Business Community covering employment, retail trends and women in business. Before co-founding GrowBiz Media, Lesonsky was Editorial Director of Entrepreneur Magazine. A nationally known speaker and authority on entrepreneurship, Rieva has been covering America’s entrepreneurs for more than 26 years.