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Monthly Archives: September 2017

Optimizing Communication with Customers

How does your company communicate with clients? Email, text, video conferencing, snail mail, or in-person contact are a few of the ways to do it. But are you doing it right and at the proper times? Business communication specialists recommend optimizing all the ways that you communicate so that clients have a positive experience regardless of the method. Let’s take a closer look at communicating with your consumers.

 

  • Email is a great communication tool because it allows the viewer to look at the communication when it is right for them, versus the need to reply to a phone call or instant message immediately. The urgency is lower with emails and they also allow for communication that can reach several parties, thus keeping everyone in the loop. One negative aspect of email is the vast amount of messages that most business people receive on a daily basis.
  • Phone – Sometimes when an issue needs close attention and immediate feedback, it is best to just pick up the phone. It allows for human contact and tells your client that you are handling the problem as you speak.
  • Newsletters – Whether done electronically or in paper form, these are still worthy of creating if you want to reach a
  • broad audience and hope to keep everyone on the same page or make announcements about new products or news.
  • Virtual Conferencing – Regardless of the platform you use, whether it is Google Hangout or Skype, seeing your client can take away all the guesswork of reading the mood and reception to an issue or problem. These conference calls are great with remote clients or clients in several locations.
  • Texting – If you need a quick answer that can be done in a few characters this may be the way to go, especially if you have just had contact with the client and you are already on the same page.

 

Regardless of which method you use to optimize communication with your clients, try to be aware of the positives and negatives of each method.

Common Mistakes of Start Ups

According to Forbes Magazine, 9 out of 10 start ups fails! Other studies, such as the Harvard Business Study, are more optimistic in stating that only 50 percent fail in the first year. They all agree, however, that making it past five years is a milestones that may mean you are solid enough to survive the horrible stats about start up survival. What are the stumbling blocks that make new businesses so risky? Well, honestly the list could go on forever, but here are a few of the more common mistakes of starting your own business:

 

  • Cash Problems – One of the largest mistakes new owners have in launching a successful small business is the cash issue. Running out of cash can have many causes including not understanding the market, losing investors, pricing problems, or financing issues.
  • Motivation – Starting a new company is possibly one of the most time-consuming and stressful events for any human being. Keeping the motivation going can be difficult, especially if key leadership dwindles or is also not motivated.
  • Product Problems – Many new companies rely on one or two services or products. If one of those fails, so does the company. New businesses need to broaden their offerings and target larger audiences to stay afloat.
  • Lack of Support – New businesses need employees and leadership personnel that are versatile and can handle many roles at once. Young companies many times do not have the cash flow to hire such individuals.
  • Failure to Handle Feedback – In our society and social media-crazed land, feedback on poor job performance is almost instantaneous. With numerous review sites, your company can be ruined with negative reviews or the inability to react swiftly to feedback from clients and employees.

 

There are numerous reasons why good companies go under. Continue to read our blog as we follow these reasons over the next few months.

Increasing Cash Flow

Is your small business having problems with its finances – specifically with cash flow? Finding the answers to this common problem can be tough. Thankfully. there are some things that business leaders and owners can do to solve this issue and prevent it from recurring in the future. No matter your budget, there are always ways to increase your sales and grow your business. Here are a few ideas to get you started to increasing your cash flow:

  • Current Clients – Talk to your current clients who already know your business and have had positive experiences with you and your company. It’s much easier to upsell a client who already is familiar with your work, the quality of your product and services, and has already incorporated aspects of your services into their business.
  • Ask for Referrals – In addition to adding services or products for your current clients, ask them to provide you with client referrals. If you know that a client is satisfied and happy with your products, ask him or her for the names and contact information of other small business owners who might also benefit from working with you.
  • Re-evaluate your Pricing – When was the last time you looked at the pricing of your products or services? If your pricing is too affordable, you won’t be taken seriously. But if your pricing is too expensive, you will lose some business to competitors. Complete some careful research about the prices of your products as compared to competitors and how a price change may impact your business.
  • Create Incentives for Ontime Payments and penalties for late payments. Part of the problem with cash flow is the issue of clients paying late or missing payments. Create an incentive program for those who pay on-time or even early.
  • Re-evaluate your Assets. Is it time to look at underperforming services or products and pull them from your business? Consider what brings in the cash and what does not.

Facebook Advertising

The numbers are in and, believe it or not, Facebook is closing-in on 2 billion users! Due to this, Facebook’s unparalleled audience gives it an “insurmountable competitive advantage,” according to Michael Pachter, an analyst with Wedbush. This competitive advantage means Facebook advertising is an excellent investment that will get your business, services, and products viewed by thousands daily, if not more!

Wondering how to get started on Facebook advertising? Here are a few things to consider:

What is the goal of your advertising campaign? Do you hope to meet new customers or hope to retarget the customers you already have? Do you plan to increase brand awareness or have consumers download your app or possibly click on an ad that brings them directly to your landing page? This decision will give your advertising campaign a goal that will be measurable.
Who do you hope to attract in the advertising? More specifically, who is the audience? With Facebook advertising you can choose: location, age, gender, or any number of demographics to target a certain group according to your campaign goals.
Decide on the location of your ads. Facebook offers different types and locations of ads that can increase traffic and bring brand awareness to your services and products.
What is your budget? Decide on a budget that is in keeping with your marketing strategy. With Facebook, your company can set a budget for daily clicks, pay-per-click, or other options. But first, decide on what you want your amount to be so that you can strictly adhere to it.
How do you want your ad to appear? Do you want one image, multiple images, or even a video that can highlight your business? Images can beautifully display your services and products, and can increase traffic to your website.

Once you have made some of these decisions log into your business page and get started on reaching your share of those 2 billion users!