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2017

Rieva Lesonsky Headshot.pngTiming is everything—at least when you’re creating marketing campaigns. In fact, as mobile devices and social media connect consumers with brands and businesses 24/7, timing becomes even more important.

 

Consider these factors when deciding on the timing of your marketing promotions.

 

How long is the decision-making process? How long do your prospects typically take to go through the sales funnel from considering buying a product/service, to researching the field, to making a purchase? If you sell software to large corporations, your sales cycle could be 6 t0 12 months, or more. However, if you own a restaurant, the decision process, from consumers deciding to go out to eat to choosing a location, could take minutes.

 

CLICK HERE TO READ MORE FROM SMALL BUSINESS EXPERT RIEVA LESONSKY

 

What are you trying to accomplish? For marketing campaigns with ongoing goals, such as increasing brand awareness, timing may not matter as much. However, if your campaign has a time-related goal, such as attracting more customers to your restaurant for your lunch specials or selling all your boutique’s winter sweaters before spring, timing is critical.

 

Is this a seasonal promotion? For marketing tied to a specific date or time frame—such as the holiday shopping season or Father’s Day—first, find out when customers typically begin shopping for the event. If, for instance, most people don’t shop for Father’s Day until the week before, marketing efforts six weeks out are a waste of money. Combine your customer data from past years with information from industry associations and trade publications to pinpoint the best timing.

 

What media do you plan to use? Lead times vary depending on the specific medium you choose. For television or radio advertising, for example, you will need to build in time to develop, record and edit your ad. For print advertising, you’ll need to create ads to fit different publications’ specifications and meet their print deadlines (which often are months earlier than the actual publication date). Allow time for copywriting, design and other creative work. Contact the media outlet for a media kit and other advertiser information.

 

RELATED ARTICLE: MOBILE MARKETING MADE EASY

 

On the other hand, pay-per-click ads, social media posts or advertising, and text message marketing can be created on the spot, making them ideal for timely promotions. For instance, if your store sells umbrellas and there’s a sudden downpour, quickly create posts or texts promoting the umbrellas and send them to your customer list. Is your restaurant having a slow day? Send a text message promotion about Happy Hour to attract people after work.

 

27490300_s.jpgWho are your target customers? Each demographic has its own habits when it comes to engaging with advertising and marketing. Millennials are likely to view your emails, online videos or social media posts on their smartphones, and be more responsive to digital marketing. Baby boomers are more likely than younger customers to watch TV and read newspapers, making these better marketing channels for this demo. Find out from your customers the media they spend the most time with. 

 

When are your customers paying attention? Ask the media you’re considering when your target customers are most likely to be watching/reading/listening. 

 

As for social media posts and email promotions, there are numerous studies—which all seem to contradict each other—about the best times, days and frequencies to post on social media or send emails. The only way to really know what timing works best is to test and monitor your results.

 

For television, radio or print advertising, code your ads to track which ones get the best results. For social media marketing and email marketing, use your platform’s analytics tools to see which days, times and frequencies attract the most attention — and convert the most customers.

 

By choosing the right timing for each marketing method and goal, your small business can achieve better results for each dollar you spend.

 

About Rieva Lesonsky

Rieva Lesonsky is CEO and Co-founder of GrowBiz Media, a custom content and media company focusing on small business and entrepreneurship, and the blog SmallBizDaily.com. A nationally known speaker and authority on entrepreneurship, Rieva has been covering Americas entrepreneurs for more than 30 years. Before co-founding GrowBiz Media, Lesonsky was the long-time Editorial Director of Entrepreneur Magazine. Lesonsky has appeared on hundreds of radio shows and numerous local and national television programs, including the Today Show, Good Morning America, CNN, The Martha Stewart Show and Oprah.Lesonsky regularly writes about small business for numerous websites and for corporations targeting entrepreneurs. Many organizations have recognized Lesonsky for her tireless devotion to helping entrepreneurs. She served on the Small Business Administrations National Advisory Council for six years, was honored by the SBA as a Small Business Media Advocate and a Woman in Business Advocate, and received the prestigious Lou Campanelli award from SCORE. She is a long-time member of the Business Journalists Hall of Fame.

 

Web: www.growbizmedia.com or Twitter: @Rieva

You can read more articles from Rieva Lesonsky by clicking here

 

Bank of America, N.A. engages with Rieva Lesonsky to provide informational materials for your discussion or review purposes only. Rieva Lesonsky is a registered trademark, used pursuant to license. The third parties within articles are used under license from Rieva Lesonsky. 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. ©2017 Bank of America Corporation

Steve Strauss Headshot.pngHow big is the screen where you spend most of your time online these days? If you are like most of us, you are probably guilty of spending a little too much time on your phone or tablet.

 

And that, my friends, is exactly why mobile marketing is so important.

 

While mobile marketing can certainly open a lot of doors, for a lot of entrepreneurs, it also poses a challenge. For many (well, maybe not you, millennials!) small screen digital marketing is a specialized skill that is not always easy to master.

 

CLICK HERE TO READ MORE FROM SMALL BUSINESS EXPERT STEVE STRAUSS

 

Don’t know where to start? Don’t worry, we’ve made it easy for you:

 

Make sure your website is mobile friendly: With an increasing number of consumers using their mobile devices, it is imperative that you have your website “mobile-optimized.” Even if you aren’t selling retail merchandise, your website is still the first place users will go if they need information about your business.  According to Google, 61 percent of users will most likely not return to a website if it doesn’t load properly, while 40 percent of those users will visit a competitor’s website instead. This is a huge chunk of your potential customer base, so make sure your website is ready for action.

 

Stay active on social media: Having a developed social media presence is one of the best ways for you to connect directly with your mobile customers. It is a great way to keep current customers engaged, reach out to new customers, collect feedback, advertise sales or events, further establish your brand, and so forth.

 

RELATED ARTICLE: WHY LOCAL SEO MATTERS MORE THAN EVER (AND 4 STEPS TO SUCCESS)

 

Social media is especially important if you are trying to reach out to millennials – for example, 81 percent of millennials go on Twitter at least once a day. More importantly, about 80 percent of total time spent on social media happens on mobile devices.

 

Create a text campaign: Text campaigns are becoming one of the more popular and successful forms of mobile marketing. Businesses use text marketing to offer promotions, sales, coupons, free trials, etc., and it is an incredibly effective way to drive sales and create that all-important engagement.

 

It’s easy to get started. A simple “text campaign” Google search will provide you with dozens of text services you can sign up for, some more expensive than others (depending on what you’re looking for). Some notable ones include ActiveCampaign, Mozeo, Mail Chimp, and SlickText. The key is to create a compelling campaign and offer so much so that your customers will agree to let you text them, or they will want to text you (i.e., you get them to “opt-in”).

 

A few golden rules are:

 

  • Offer real benefits
  • Send out texts at regular hours
  • Don’t text too often

 

58624169_s.jpgStay on top of SEO and mobile advertising: 48 percent of users begin mobile research with a simple search. This means that you should invest some time and money in your search engine optimization (SEO).  An easy first step is to include keywords in your title pages; words you know people will be searching for. This will increase the likelihood that your website gets seen. There are many elements to optimizing your search engine results (too many to list here) so it might be wise to do a little research on your own. Google has a great SEO guide, found here.

 

The other option, aside from organic SEO, is to buy ads that will appear at the top of mobile search results. Google AdWords is an excellent service for this, and you only have to pay when a user clicks your ad. This is a sure-fire way to increase website traffic, and ultimately expand your customer base

 

Given that a majority of millennials are looking to grow their businesses right now (according to the latest Bank of America Small Business Owner Report), reaching them where they spend their time makes a lot of sense.

 

It’s time to market mobile.

 

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 SuccessSteven 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 informational materials for your discussion or review purposes only. Steve Strauss is a registered trademark, used pursuant to license. The third parties within articles 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.  ©2017 Bank of America Corporation

Rieva Lesonsky Headshot.pngUnderstanding consumer behavior—what your target customers think and feel and how they buy—helps you better market your business. Here are the top priorities today’s consumers seek every small business owner should understand.

 

1. Personalization. Once upon a time, you could group consumers broadly by age groups, such as the 18- to 54-year-old TV viewer. Those days are long gone. Even within demographic groups, such as millennials, Generation X, baby boomers, women or Hispanics, there are multiple subgroups that exhibit very different behavior. To capture today’s consumers, you need to understand each customer niche you cater to and target your marketing directly to their interests, needs and concerns.

 

CLICK HERE TO READ MORE FROM SMALL BUSINESS EXPERT RIEVA LESONSKY

 

2. Experiences. Consumers of all age groups are placing value on experiences over things. More than half of customers in a McKinsey survey say if they had extra income (after buying necessities) they would spend it on vacations, while over 40 percent would spend the extra money on entertainment and/or eating in restaurants. This is good news if you sell experiences. However, if you sell products, you’ll need to provide a customer experience that’s exciting enough to separate shoppers from their dollars.

 

3. Savings. The Great Recession may be over, but it forever changed the way consumers buy. Shoppers simply expect competitive pricing, discounts and deals, according to Mintel’s North America 17 Consumer Trends report. Sales, promotions and coupons will all resonate with consumers. To encourage repeat customers, set up loyalty programs that let you tailor offers to customers’ past purchasing behavior.

 

4. Convenience. Sure, consumers want to save money, but they also want to save time. Speed and convenience are now baseline expectations when shopping. Many consumers are more willing to spend extra for products or services that make their lives easier. Promote ways your business can help consumers save time, spend more time with their families or get something done more efficiently.

 

RELATED ARTICLE: THE ONGOING DEBATE: SHOULD YOU FOCUS ON WINNING NEW CUSTOMERS OR RETAINING LOYAL CUSTOMERS?

 

5. Authenticity. Euromonitor says today's “new consumer” has replaced conspicuous consumption with conscious consumption. Consumers want to do business with companies that share their values. For many, environmental sustainability and authenticity are key deciding factors in their purchasing behaviors.

 

57050546_s.jpg6. Transparency. Consumers expect the companies they do business with to be ethical and open about their business practices, whether that’s how they treat their employees or where the materials for their products are sourced.

 

7. Little luxuries. Overall, consumers are still counting their pennies when it comes to product purchases—but there are a few key areas where they are more likely to be “trading up.” McKinsey says consumers are willing to spend more money for premium products, particularly on alcoholic beverages and personal-care products. More than half of consumers in Nielsen’s Global Premiumization Report say buying premium goods makes them feel good; half say it makes them feel confident. Millennials, in particular, prefer premium products.

 

8. Self-directed shopping. Consumers are relying less on salespeople and advertising to guide their purchasing. Two-thirds (66 percent) of consumers in a Deloitte study say they prefer a self-directed shopping journey, up from 30 percent in 2014. Fewer than 30 percent say advertising influences their purchasing, compared to 70 percent in 2014. Don’t worry: You can still influence consumers. You just need to alter your tactics a bit and use social media, search engine optimization and online reviews to capture their attention throughout their shopping journey.

 

9. A mobile-first experience. Mobile devices and especially mobile search have become essential to the shopping experience. Even among non-millennials, 78 percent use digital devices multiple times during the average shopping trip, Deloitte says. With all age groups searching, browsing and buying on mobile devices, and Google using mobile-friendliness as part of determining a website’s page rank, a mobile-first business website is a must.

 

About Rieva Lesonsky

Rieva Lesonsky is CEO and Co-founder of GrowBiz Media, a custom content and media company focusing on small business and entrepreneurship, and the blog SmallBizDaily.com. A nationally known speaker and authority on entrepreneurship, Rieva has been covering America’s entrepreneurs for more than 30 years. Before co-founding GrowBiz Media, Lesonsky was the long-time Editorial Director of Entrepreneur Magazine. Lesonsky has appeared on hundreds of radio shows and numerous local and national television programs, including the Today Show, Good Morning America, CNN, The Martha Stewart Show and Oprah.Lesonsky regularly writes about small business for numerous websites and for corporations targeting entrepreneurs. Many organizations have recognized Lesonsky for her tireless devotion to helping entrepreneurs. She served on the Small Business Administration’s National Advisory Council for six years, was honored by the SBA as a Small Business Media Advocate and a Woman in Business Advocate, and received the prestigious Lou Campanelli award from SCORE. She is a long-time member of the Business Journalists Hall of Fame.

 

Web: www.growbizmedia.com or Twitter: @Rieva

You can read more articles from Rieva Lesonsky by clicking here

 

Bank of America, N.A. engages with Rieva Lesonsky to provide informational materials for your discussion or review purposes only. Rieva Lesonsky is a registered trademark, used pursuant to license. The third parties within articles are used under license from Rieva Lesonsky. 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.  ©2017 Bank of America Corporation

Ebong Eka

Beware the Nickel & Dimers

Posted by Ebong Eka May 10, 2017

Small business expert Ebong Eka offers tips on how to manage clients attempting to nickel and dime your business.

 

 

If you have questions for Ebong, please scroll down and ask in the comment below. Ebong will do his best to respond.

 

 


 

About Ebong Eka

Ebong Eka is no stranger to the world of personal finance. As a certified public accountant and former professional basketball player he offers a fresh perspective to small business planning and executing. With over fifteen years of accounting, tax & small business experience with firms like PricewaterhouseCoopers, Deloitte & Touche and CohnReznick, Ebong provides practical money solutions tailored to the everyday person, the aspiring entrepreneur or the small business owner.

 

Ebong is the founder of EKAnomics, a sales, pricing and leadership firm. He is also the founder of Ericorp Consulting, Inc., a tax and management consulting firm. Ebong is the author of “Start Me Up! The-No-Business-Plan, Business Plan.

 

Web: www.ebongeka.com or Twitter: @EbongEka.

You can read more articles from Ebong Eka by clicking here

Rieva Lesonsky Headshot.pngWhat is local search engine optimization (SEO) and why is it so important to small businesses?

 

While SEO optimizes your website so it will rank higher in search results, local SEO ensures your business shows up when people search for companies like yours, specifically in your local area. Local SEO is an important marketing tool for any small business targeting a local customer base.

 

Basically, to increase customer visits to your location, you need to be doing local SEO.

 

Local SEO is becoming more important because more people now search for businesses, products and services on mobile devices. When a prospect searches via smartphone, Google takes the phone’s location into consideration when displaying search results. That gives businesses using local SEO an edge.

 

CLICK HERE TO READ MORE FROM SMALL BUSINESS EXPERT RIEVA LESONSKY

 

Local SEO can offer many benefits, including:

  • Putting your small business on equal footing with your biggest competitors.
  • Reaching the specific target audience you want—nearby prospects.
  • Grabbing prospects at the exact moment they’re looking for what you’re selling.
  • It’s free!

 

Here's how to implement local SEO for your business.

 

Step 1. Claim your business listing on local search directories.

Begin with Google My Business; then move on to other directories such as Bing Places for Business, Citysearch, MerchantCircle, Yelp and Superpages. Also add any region-specific or industry-specific directories you can think of, such as Angie’s List. You may find a directory has already created a barebones listing for your business; go ahead and claim it (it’s free).

 

Step 2. Claim and optimize your directory listings.

Start with the basic information prospects will use when deciding whether to visit your business—address, phone number, hours of operation and website URL. If you have more than one business location, you will need a separate directory listing for each; this helps improve your search engine rankings.

 

RELATED ARTICLE: THE DOS AND DON’TS OF CONNECTING WITH INFLUENCERS ONLINE

 

It’s critical for your business name, address and phone number (NAP) information to be completely consistent across the various directories.  In other words, if your business is on 42nd Avenue, don’t spell it Av. in one listing, Avenue in another and Ave. in a third. Inconsistent entries confuse search engines and lower your ranking.

 

26897182_s.jpgOnce you’ve got the basics covered, go back to the listings and add details to convince customers to patronize your business. This might include photos of your location or products, menus, current promotions or seasonal hours.

 

Finally, make sure to categorize your listing under the proper type/s of business. (Most search directories allow this.) Proper categorization helps to deliver more accurate search results to users.

 

Step 3. Optimize your website for local search.

For even better results, you’ll want to implement local SEO on your website, too. Start by including your business address in the footer of the home page, on the Contact Us page and anywhere else it’s appropriate. Then add location-specific keywords (such as your neighborhood, city, county or state) in your website’s meta tags, title tags, descriptions and content.

 

Step 4. Keep your information up-to-date.

To get the most from local SEO, you need to maintain current listings on local search directories. Once a month, review your listings and make sure all the information is still accurate. Update as needed—for example, add recent photos or new specials. (Your webhosting company may be able to handle this for you as an added service, so you don’t have to visit hundreds of local search directories and update them by hand.)

 

Refreshing your content gets search engines’ attention and improves your standing in search results.

 

About Rieva Lesonsky

Rieva Lesonsky is CEO and Co-founder of GrowBiz Media, a custom content and media company focusing on small business and entrepreneurship, and the blog SmallBizDaily.com. A nationally known speaker and authority on entrepreneurship, Rieva has been covering America’s entrepreneurs for more than 30 years. Before co-founding GrowBiz Media, Lesonsky was the long-time Editorial Director of Entrepreneur Magazine. Lesonsky has appeared on hundreds of radio shows and numerous local and national television programs, including the Today Show, Good Morning America, CNN, The Martha Stewart Show and Oprah.Lesonsky regularly writes about small business for numerous websites and for corporations targeting entrepreneurs. Many organizations have recognized Lesonsky for her tireless devotion to helping entrepreneurs. She served on the Small Business Administration’s National Advisory Council for six years, was honored by the SBA as a Small Business Media Advocate and a Woman in Business Advocate, and received the prestigious Lou Campanelli award from SCORE. She is a long-time member of the Business Journalists Hall of Fame.

 

Web: www.growbizmedia.com or Twitter: @Rieva

You can read more articles from Rieva Lesonsky by clicking here

 

Bank of America, N.A. engages with Rieva Lesonsky to provide informational materials for your discussion or review purposes only. Rieva Lesonsky is a registered trademark, used pursuant to license. The third parties within articles are used under license from Rieva Lesonsky. 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.  ©2017 Bank of America Corporation

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