10 Tips to Help You Make the Most of Your Small Business Advertising

ANNIE PILON | February 23, 2019

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Today’s businesses have more choices than ever when it comes to advertising. You can advertise on social media, use search engines, or even pay your advertising budget to relevant influencers. To make sense of all the options, it can help to get input from businesses who have been there already. Below, members of the online small business community share insights on various forms of advertising. Even old school forms of advertising like billboards and outdoor signage are being impacted by social media. If you can create ads that are ripe for sharing online, you can increase your reach significantly. Learn more about this concept in this Target Marketing post by Candice Simons.

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4 Questions to Ask — and Answer — Before Starting a Side Hustle

Article | July 6, 2021 | Sponsored

Starting a side hustle requires doing a bit more than deciding you will monetize your interests. You can explore a hobby or activity that you are passionate about through a side hustle. This hustle may also allow you to carve out a space for pursuing natural talents, such as the ability to bake cakes or sew clothing. Typically, a side gig is pursued on the side in addition to full-time employment elsewhere. Side hustles may not be your full-time line of work, but that doesn’t mean they do not receive any less attention. Starting a side hustle requires an investment of time, energy, focus, and dedication. This ensures that you may pursue what you love, learn by doing, create and establish a working business plan, and, ideally, set yourself up to build a loyal customer or client base that enjoys and invests in your offerings. Starting a side hustle also means being able to ask, and answer, tough questions to ensure you’re ready to commit. Before you start, make sure you can confidently answer the following questions to ensure a healthy lifecycle for your side gig.

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How to Run a Small Business Successfully

Article | July 6, 2021

Running a business is all about staying on top of the most crucial matters while simultaneously giving every aspect the focus and attention it deserves. It means learning how to take advantage of your company’s strengths while ensuring your business gets the exposure it needs to weather the storm. Things can get even trickier when you are running a startup company or a small business, as the slightest mistake could have far-reaching consequences. Fortunately, even inexperienced business owners have a chance to manage a small business without necessarily having to resort to trial and error. There are plenty of successful companies out there to imitate, and there are many ways to achieve success. Here are just a few tips for running a small business successfully!

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TECHNOLOGY

How Can Small Business Digital Transformation Opportunities Be Bagged?

Article | July 6, 2021

Small businesses are the backbone of the US economy, generating local jobs and innovation while encouraging entrepreneurship among minorities, women, veterans, and other community segments. As stated by Florida tax monitor data, small companies employ 48% of all Americans and generate 43.5 percent of the country's gross domestic product (GDP). At the speed of light, the corporate environment is continuously moving to new digital technologies. However, many small company owners are unable to keep up with this small business digital transformation. In the opinion of recent Google-commissioned small company research, 80% of small businesses in the United States are not fully utilizing digital technologies. A few more reasons at play prevent small firms from adopting digital technology and falling behind on digital transformation trends. Ignoring digital benefits or refusing to adjust is a surefire way to fail in a constantly evolving digital world. "At least 40% of all businesses will die in the next ten years… if they don't figure out how to change their entire company to accommodate new technologies." — John Chambers, Cisco Factors Contributing to the Lag in Digital Transformation Race Keeping up with New Technologies Is Tough Numerous small business owners are unable to keep up with emerging digital transformation trends. Various digital opportunities for small businesses exist to employ in their operations. However, companies lack the will to leverage digital capabilities and so fall short of their full potential. In addition, limited resources create an impediment to digital adoption inside. Employee experience and digital skills are other significant impediments to SMBs adopting digital technologies. Small businesses need to overcome their fear of change to capitalize on the digital dividend, accelerate growth, and scale effectively. Change in Customers Behavior and Persona Changes in customer behavior and knowledge of SMB consumer personas are critical components of small business digital transformation and are the primary issue confronting small business owners. The most significant change that small companies anticipate in the next five years is a shift in consumer expectations and personas. Owners believe they understand their businesses since they are small or medium-sized business owners. Still, customers have a different perspective more than 70% of the time due to social and digital transformation trends. For the next five years, the top three consumer trends are expected to increase product or service customization, increased emphasis on customer experience, and higher expectations of quality or value for money. "Clients are going to expect a lot of personalization in their businesses; consumers are going to expect the same. To avoid data silos, having an emphasis on driving real-time information from customer data and sources is core for any company to become digitally native." – Bibhakar Pandey, Vice President & Leader of Customer Experience, Marketing Services, Capgemini. Need Assistance for Right Decisions Making technological decisions is challenging for small firms. Additionally, many business decisions are made by small business owners. Therefore, they must have the appropriate knowledge and help when making digital decisions involving various conflicting obligations. Because the costs of digital technologies are so high, it is critical for small businesses to have sufficient information about the value of sales, service, and marketing technologies to select the appropriate digital systems, upgrade digital skills, and provide adequate protection and security. In addition, the small owners need timely assistance to cope up with small business digital transformation. Digital Gap Small firms have several digital gaps in various areas, including internal skills gaps, financial gaps, and digital infrastructure shortages. Due to the utilization of high-speed internet connections and cloud-based technologies, these disparities are more significant for small businesses than large enterprises. The owners need to cope up with different stages of digital transformation in small businesses. However, there is no denying the link between digital and productivity, which is critical for productivity. Digital Transformation Approaches: Adoption and Upgradation to CRMs To evaluate client behavior, it is critical to implement and improve your customer relationship management system (CRM). In addition, businesses should leverage cloud-based solutions to strengthen their relationships with their consumers. According to Deloitte, SMBS that use CRM generate 44 percent more income than those who do not have a system or only have a rudimentary system. However, numerous CRM features, such as omnichannel customer care, marketing automation, social tools, and predictive analytics with automation are not part of the classic CRM model. "Right from the start, based on our ICP, we focus on what level of personalization and automation needs to be built out and what touchpoints like overlays, retargeting, and remarketing are to be done to convert the customer in the end and take them to the SQL stage." – Amitabh Ramani, Global Marketing Director, Jade Global. Adoption and up-gradation of CRMs will open new digital opportunities for small businesses. Improvement in Digital Infrastructure To fill the digital gap and be a part of digital transformation trends, small businesses must embrace high-speed broadband for small business digital transformation. In addition, adopt digital technologies in the workplace to enhance SMB productivity and connectedness. By incorporating innovation and technology, small firms may increase their competitiveness. Below are few actions that can be taken for more digitally engaged small businesses: Raising awareness of digital opportunities SME training and upskilling programs Promoting business innovation and the provision of new digital solutions Implementation of Sales and Marketing Tools In today's competitive corporate climate, the focus is firmly placed on the sales and marketing aspects of the enterprise. As a result, small businesses strive to capitalize on possibilities for personalized marketing based on prior interactions or sales and engage clients through customized marketing. Amaysim is an example of a company that focuses on customized marketing using a cloud-based marketing platform; they ensure timely marketing communication and connect with clients in real-time via SMS. Only one in every five small businesses uses digital tools or social media platforms to acquire new consumers or connect with existing clients. Incorporate artificial intelligence into different business processes, such as predictive analytics, automated product recommendations, and upgrade suggestions based on consumer behavior. Shift to Online Interactions Face-to-face transactions have decreased as a percentage of total sales, and the line between physical and digital is becoming increasingly blurred, resulting in behavioral adjustments. The purchase is moving due to internet channels, or you might say that more consumers favor online purchases over in-person transactions. With the increase in online sales, small companies also need to enhance their delivery services to keep up with the demand. In addition, the shift in communication channels to emails, social media platforms, and websites have altered consumer behavior about enquires and complaints. As a result, implementing CRM software for service interactions has become a necessity of the hour to ensure a fast response. Shift to online interactions of sales or any business operation is an escalating demand for small business digital transformation. Final Thoughts With the evolution of digital trends in small businesses, owners can leverage small business digital transformation benefits by using the techniques as mentioned above. Regular use of digital tools may help small businesses enhance their performance and adapt to dynamic business conditions and changing consumer expectations and the surrounding environment. Engage small companies in new digital prospects for success and business growth, resulting in a greater return on investment (ROI). FAQs Why is digital transformation important for small businesses? Digital transformation enables small businesses to ease out their operations, increases efficiency, automates workflow, helps to improve customer relationships. Adopting digital transformation enables to fulfill changing behaviors and needs of customers. What are the most significant trends of digital transformation? Here are few significant trends of digital transformation in the coming year 2022 that will impact the work culture of businesses. Improved connectivity (5G) AI technology Cybersecurity IoT Multi-cloud and APIs What are key areas of digital transformation? The key areas of digital transformation are as follows: Business process transformation Domain transformation Business model transformation Cultural/Organizational Transformation { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "Why is digital transformation important for small businesses?", "acceptedAnswer": { "@type": "Answer", "text": "Digital transformation enables small businesses to ease out their operations, increases efficiency, automates workflow, helps to improve customer relationships. Adopting digital transformation enables to fulfill changing behaviors and needs of customers." } },{ "@type": "Question", "name": "What are the most significant trends of digital transformation?", "acceptedAnswer": { "@type": "Answer", "text": "Here are few significant trends of digital transformation in the coming year 2022 that will impact the work culture of businesses. Improved connectivity (5G) AI technology Cybersecurity IoT Multi-cloud and APIs" } },{ "@type": "Question", "name": "What are key areas of digital transformation?", "acceptedAnswer": { "@type": "Answer", "text": "The key areas of digital transformation are as follows: Business process transformation Domain transformation Business model transformation Cultural/Organizational Transformation" } }] }

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A Complete Set of Guidelines for More Measurable Marketing Campaign

Article | July 6, 2021

When the term "marketing" is spoken, we immediately think of bright and colorful advertisements, particularly on digital platforms. Setting goals and working toward them is vital to marketing. The success and failure of marketing campaign goals must be measured as part of the overall process. Unfortunately, the campaign's results can be measured using only a few measurable markers. As a result, here are detailed instructions for creating a more measurable marketing campaign. Marketing accounts for a sizable portion of expenditures, so making it precisely measurable is a critical component of every digital marketing strategy. In addition, marketing is the backbone of every campaign, and effective marketing may result in a positive return on investment. Why is Measuring Marketing Campaigns Essential? Measuring campaigns provides you a clear view of your success and failure, as well as what is and is not working with your efforts. In addition, analysis of campaigns provides insight into whether you are scaling at the appropriate rate and maximizing the efficacy of your online efforts. You may believe that your marketing effort has been a success, but this may not be the actual case. Regular campaign measurement enables you to re-evaluate your objectives for the ad campaigns and adjust your marketing approach accordingly. Often, small business owners overlook marketing analytics, yet they are critical for evaluating your marketing efforts and performance. Measuring your success is contingent upon gathering data on marketing actions and tracking campaign data and performance. However, the term "success" is subjective and varies according to the company objectives of each owner. Therefore, assess the success of your campaign in light of your company objectives. Below is the list of tips for a more measurable marketing campaign. Make List of Marketing Objectives To begin, establish and compile a list of objectives for your ad campaign. This is the first step in creating the most measurable campaign possible. This one step determines both success and failure. Marketing objectives are the goals that businesses set to market their products and services to their customers, which aids in campaign planning. In addition, setting marketing goals entails developing a plan for the business's overall growth. Keep in mind that your marketing objectives should be linked with your business objectives. So, first, determine your campaign's objectives: are they to acquire new consumers, promote a new product, improve brand loyalty, or increase ticket sales? The more precise your objectives are, the more measurable will be your marketing campaign. Set Realistic and Achievable Objectives for the Ad Campaigns Having no reasonable and measurable goals, you will lose direction. Instead, learn how to create marketing targets using the SMART (Specific, Measurable, Achievable, Realistic, and Time-related) framework theory. The effectiveness of an online campaign is highly dependent on the SMART framework; this framework provides transparent performance metrics for your efforts. SMART goal benefits are: They direct you appropriately They emphasize the need to measure results, which is essential in digital marketing They ensure that your goals align with your vision Consider the list of goal-setting criteria to help you create more effective and attainable objectives. Below are a few common and realistic goals set by many small business owners: Increase brand awareness More lead generation Improve conversion rates Increase web traffic Increase sales Increase product demand Find out Your Target Audience Identifying your target audience is critical for building a measurable marketing campaign. First, evaluate your marketing objectives; to boost brand loyalty and encourage repeat purchases, you must first establish your present consumers. Likewise, if you want to increase your reach and attract new consumers, it's critical first to understand the nature and preferences of your current clients. Target marketing educates firms on how to effectively offer their products and services and increase their customer base. Finding out your target customer acts as a crucial point in your marketing roadmap. It allows your business to focus on marketing efforts and enables you to generate business leads in an organized and affordable manner. Set Marketing Budget After establishing the objectives of campaigns, establish a marketing budget. Next, outline your sales funnel; this will provide you with a clear image of your clients' purchasing power and, in turn, contribute to estimating the return on your marketing expenditure. This calculation helps you to opt for the campaign's budget while still earning a profit. Your marketing budget must be realistic to convey your message successfully to your audience while still maintaining profit margins. When planning a budget for marketing, contemplate all expenditures involved with promoting your firm, including paid advertisements, marketing tools, staffing charges, and website upkeep fees. Develop Marketing Strategy Once your marketing objectives have been established, develop a marketing strategy that is linked with them. Finally, create a marketing strategy that allows for effective campaign planning. Before developing a marketing strategy, make sure you have the following data: Market segmentation Qualitative market data Competitive analysis Quantitative market data Keep your overall strategic goals in mind when developing a new marketing strategy or using a digital marketing tactic. Then, after you've established clear, precise goals, consider the strategies that will assist you in achieving them. A good marketing strategy helps you attain a measurable marketing campaign. You can choose any combination of the 7Ps (product, price, promotion, process, people, place, and physical evidence) of the marketing mix to achieve your marketing strategy. Measure Your Progress Measuring the effectiveness of marketing campaigns is pivotal to measure the success of your ad campaigns. There are various metrics to measure online advertising effectiveness. For example, sales and engagement effectiveness consists of several metrics in use to be measured. Metrics of sales and communication can be: New leads generated Total website visits Click-through rate (CTR) Website traffic to lead ratio Metrics of engagement are: Brand mentions Reach Brand name search Average time spent on page Scroll tracking The outcome of keeping track of these metrics and analysis of the campaigns determine the success of meeting the marketing goals. If not successful, analyze the aspects that prevented you from reaching your goals and do better next time. Thus, using metrics serves as a post-campaign evaluation and turns it into a most measurable marketing campaign. Every hour of the day, marketing as fundamental changes and evolves. Making measurable marketing campaigns assures and expands chances for success and enables you to make modifications to strategies that are not generating success or growth. The above are a few techniques that can help you create more quantifiable marketing initiatives. Frequently Asked Questions: How are campaign metrics measured? Metrics are measured through tools such as Google Analytics. For example, Google Analytics provides information like: Who visited your webpage? Which customers are coming back? From where do they come? Traffic generation Conversion rate Click-thru rate (CTR) Cost per click (CPC) What are the benefits of a campaign evaluation survey? Here are few benefits of a campaign evaluation survey: Demonstrate your efficiency or accomplishments Determine whether you are on track Regular campaign evaluation enables you to maximize the effect of your efforts. In addition, monitoring and assessment will aid businesses in planning future campaigns and initiatives. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "How are campaign metrics measured?", "acceptedAnswer": { "@type": "Answer", "text": "Metrics are measured through tools such as Google Analytics. For example, Google Analytics provides information like: Who visited your webpage? Which customers are coming back? From where do they come? Traffic generation Conversion rate Click-thru rate (CTR) Cost per click (CPC)" } },{ "@type": "Question", "name": "What are the benefits of a campaign evaluation survey?", "acceptedAnswer": { "@type": "Answer", "text": "Here are few benefits of a campaign evaluation survey: Demonstrate your efficiency or accomplishments Determine whether you are on track Regular campaign evaluation enables you to maximize the effect of your efforts. In addition, monitoring and assessment will aid businesses in planning future campaigns and initiatives." } }] }

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Medici is a revolutionary mobile healthcare platform that is connecting all stakeholders in the healthcare ecosystem – patients, doctors, providers and payers.

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