3 ways your small business benefits from using a peo

| June 10, 2014

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Since December 2004, employment at small businesses using PEOs has grown more than 7 percent faster than at small businesses overall, according to the Intuit Small Business Employment Index. The average overall employee turnover rate in the United States is approximately 42 percent per year, based on 2012 data. It is 28 to 32 percent for companies that used PEOs for at least four quarters.

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Stipenda is a leading provider of international employment, payroll and compliance solutions for PEO providers and their clients. Partner with us, and you can extend your offering to clients almost anywhere in the world.

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Best Practices for Small Businesses to Nurture Leads with Email Marketing

Article | July 28, 2021

While social media marketing strategies are increasing in popularity globally, email marketing remains one of the best ways to build leads for your small business. Every $1 the average business invests in email marketing makes a return-on-investment (ROI) of approximately $49. This makes email marketing a lucrative investment that can connect your small business to your customers. Email marketing also carries other advantages. It’s affordable for businesses with limited digital marketing budgets, it doesn’t require special equipment, and anyone can learn how to succeed with digital marketing.

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Top 8 Small Business Marketing Ideas to Propel Your Business

Article | July 28, 2021

We have more upcoming business challenges for 2021 now that the year 2020 has passed. Therefore, we ought to be prepared with some power-packed small business marketing ideas for the upcoming year. Starting a business, no matter how big or small, is easy; the real challenge is keeping it running smoothly and efficiently. Marketing is critical to the smooth operation of a business. Marketing is an essential component of any business for it to thrive. Marketing allows you to establish and promote your brand, generate sales, generate leads, and so on. It isn’t easy to implement the right marketing strategies for a business. Furthermore, due to limited resources, implementing the right marketing ideas for small businesses is more difficult. Whether you are starting a new business or already have one, it is critical to have an online presence for marketing and brand awareness. Before we get into the meat of this blog, let me clarify a few concepts for a better understanding of business marketing. Importance of marketing for small businesses Marketing is critical for the success of small businesses. Without proper marketing, your reach is extremely limited. Marketing has a long-term impact on your company. It increases sales, helps businesses grow and engages customers. All this necessitates careful planning. Planning entails deciding on the best platform and tools for marketing your company. Develop a marketing plan A marketing plan is a detailed plan that outlines the advertising strategy used to generate leads and reach the target customer and market. It collects various marketing strategies used to promote a company, its products, or services. Thus, preparing a marketing plan is very important to set small business marketing ideas. Knowing your audience, spelling out marketing and promotional strategies, creating buyer personas, generating leads and demands, generating web traffic, , and converting leads to sales, are all part of a marketing plan. It is of utmost importance to keep marketing trends in mind and carry out a marketing plan. Benefits of a marketing plan A marketing plan brings everyone on the same page. Makes marketing strategy documented and easy to consult. It makes it easy to evaluate new opportunities. It gives a better understanding of your marketing strategy. Helps in making the right decision for your business or marketing. Having a plan implies that your objectives are measurable. It enables your business to be proactive and aligned with its vision and goals. There are plenty of small business marketing strategies available for your business. I will assist you in selecting the best ones for your business's success by providing you with a few small business marketing ideas. Top 8 small business marketing ideas Know your audience How would you identify your business's target audience? Any marketing technique aims to attract customers to their brands, but not everyone can be a buyer. For your product or service, you must concentrate on a specific target audience. However, this necessitates some market research, which will assist you in identifying your business's niche. Market research entails gathering information from customers, such as what motivates them to make a purchase decision? What are their requirements? What do they expect from a service provider or a product vendor? Emphasize search engine optimization (SEO) Search Engine Optimization (SEO) optimizes the content on your website. . It is popular and preferred by business owners because organic content is a free source of high-quality traffic and internet searchability. You can bring in more traffic to your content and more leads only through SEO. Top ranking achieved through SEO promotes your website 24 hours a day, seven days a week, where Google searches occur 60,000 times per second. However, reaching the top ranking necessitates a significant amount of effort. SEO is a long-term marketing strategy with remarkable long-term returns. Here are few tips to be kept in mind for the success of optimizing your content via SEO: Produce high-quality content on hot topics in your niche. Create content that focuses on relevant and valuable keywords. Optimize your header tags so that search engines capture your pages. Include your primary keywords in all your website's landing pages, titles, meta descriptions, and so on. Use internal linking that helps search engines crawl and index your pages. Optimize meta descriptions. Reduce page load time by optimizing your website's images. Concentrate on generating backlinks. Use engaging videos to connect Customers are getting video savvy on the social media platform. Videos develop a personal connection with the viewers or clients, and in this age of social distancing, it has proved to be a blessing for business marketers. Videos play a key role in brand awareness of the business. People with short attention spans are drawn to videos (everybody). Video marketing is also done with a limited budget; therefore, it is one of the best small business marketing ideas. Marketing teams use video marketing as a strategy to create, curate, and use videos for marketing their products or services to their target audience. However, the goal is to keep audience members engaged with the brand in a simple and easy-to-digest manner. YouTube receives five billion video views per day. Besides, the average viewing session is 40 minutes per day, a 50 percent increase year over year. Other platforms for live videos, such as Facebook and Instagram, are also very popular. Facebook live videos have a 4.3 percent engagement rate, while non-live videos have a 2.2 percent engagement rate. People watch 16 hours of online video per week on average, a 52% increase over the last two years. Viewers retain 95 percent of a message when they watch it in a video versus 10% when they read it in text. Social video generates 1200 times the number of shares as text and image content combined. Optimize your marketing technology stack The marketing technology stack is a collection of technologies used by marketers to optimize their marketing processes throughout the customer lifecycle. Implementing a marketing technology (Martech) stack allows you to leverage and improve your marketing activities. Benefits of optimizing Martech Marketing teams can streamline workflows. Martech tools reduce internal friction. Allows all departments to work together towards common goals. Marketing technologies help simplify complex processes, measure the impact of marketing activities, and drive more efficient spending. Make social media significant for the promotion Social media networks have transformed the face of marketing and are one of the powerful marketing business tools. According to Global WebIndex research, approximately 53.6 percent of the world's population uses social media. The average daily usage is two hours and twenty-five minutes. The social media platform is the cheapest and most effective for small business advertising. Social media helps you increase your domain authority, brand awareness, improves search engine ranking, and offers higher inbound traffic, among many more. As a small business owner, you just need to invest your time and effort into it. Use relevant hashtags in the post. Visual content (high-quality and eye-catching) along with text. Encourage comments on your posts. Find your brand voice. Make use of influencer marketing. Social media proved to be encouraging small business marketing ideas. Automate your important marketing channels When it comes to simple marketing ideas, automation is the best solution because it streamlines marketing processes. Thus, businesses need to leverage the automation of marketing channels to reduce manual tasks and save time. Marketing automation is done by: Repetitive tasks such as email and website actions can be automated. Marketing process effectiveness measurement. This results in increased operational efficiency. Also helps to increase your revenue. Creating a schedule for social media posts. Marketing automation integrates all business channels and outreach into a single customer database. Automation turned up as one of the key trends in B2C business. Marketing automation makes small businesses competitive. AI is also a part of marketing automation and is often used in marketing efforts where speed is essential. Marketing automation is feasible for small business ideas. Looking at all the above advantages, there is a growing need for automation as a small business marketing idea. Optimize your content for voice search Voice search uses voice technology that allows users to perform searches on a device simply by speaking into it; the device could be a smartphone, a computer, or a smart home assistant (like Amazon Alexa, Siri, Cortana, and Google home). Voice search has grown in popularity in recent years. For instance, voice input now accounts for 50% of all searches. As a result, now is the time to optimize your web pages for the same. The year 2020 predicted the widespread use of voice search, but 2021 is when consumers are using this technique via voice-enabled devices during the pandemic. Small businesses have a real opportunity to capitalize on a local search through voice. Companies that want to stay ahead of the curve in digital marketing are already implementing a voice search strategy. Small business owners can take advantage of such popular marketing technology trends. Send and respond to review the request and perform referral marketing Customers trust and rely on the reviews and customer’s feedback. Thus, encourage customers to share their experience with the products or services that the company is offering. Customer feedback acts as social proof that your customers trust. The reviews or testimonials could be positive or negative, but it surely helps businesses to improve their business or marketing strategies. Send review requests via text or email that will make the process easy for customers. However, it is equally important that you also respond to the reviews. Responding to reviews can help your business rank higher in search engines. Small businesses often think referral marketing is not their cup of tea and is meant for large businesses. However, small businesses have a lot more to gain from it as it is one of the best ways for lead generation. A referral is nothing but someone you know recommending the product or service to their known or friends. This marketing idea acts as a promotional channel for small businesses. Everything is going online, and digital marketing is booming. Since you are now aware of marketing ideas for small businesses, you are only one step away from putting them into action and reaping the benefits of the above marketing ideas. FAQ’s What are the best marketing ideas for a small-scale business? The best marketing ideas for a small business include social media, search engine optimization, referral marketing, market automation, etc. Why is marketing strategy important for small businesses? How you communicate your value to others is defined by your marketing strategy. Small businesses must improve their positioning. A marketing strategy will help you make sound decisions. How to calculate the online growth of small business? Companies should have year-over-year growth of between 15% and 45 percent as a general benchmark. According to a SaaS survey, companies with less than $2 million in annual revenue grow faster. When you have a diverse audience base, you have all necessary processes in place that show the online growth of the small business. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "What are the best marketing ideas for a small-scale business?", "acceptedAnswer": { "@type": "Answer", "text": "The best marketing ideas for a small business include social media, search engine optimization, referral marketing, market automation, etc." } },{ "@type": "Question", "name": "Why is marketing strategy important for small businesses?", "acceptedAnswer": { "@type": "Answer", "text": "How you communicate your value to others is defined by your marketing strategy. Small businesses must improve their positioning. A marketing strategy will help you make sound decisions." } },{ "@type": "Question", "name": "How to calculate the online growth of small business?", "acceptedAnswer": { "@type": "Answer", "text": "Companies should have year-over-year growth of between 15% and 45 percent as a general benchmark. According to a SaaS survey, companies with less than $2 million in annual revenue grow faster. When you have a diverse audience base, you have all necessary processes in place that show the online growth of the small business." } }] }

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A Comprehensive Handbook on Small Business Human Resources

Article | July 28, 2021

Human resources are a subjective term to each individual and a business entity. Many small firms overlook human resource departments, believing them to be time-consuming, so they do not engage human resource specialists to assist with business operations. Instead, they attempt to manage the tasks either directly or by delegation to current workers. However, human resources benefit both the business and future workers. This blog gives information on small business human resources in detail. According to connecteam, 54% of small firms manage employment and other human resource activities on their own to save money; nevertheless, this type of management presents several challenges and frequently blows up in their faces. According to the Bureau of Labor Statistics, human resource management professionals will see a 10% increase in employment between 2016 and 2026. HR is crucial in a small business from recruiting and retention through payroll and benefits. The shortcomings in any of these things result in: Penalties for non-compliance Inadequate talent Inefficiencies that cause your manufacturing cycle to slow down Above mentioned points define that you cannot underestimate the importance of HR support for small businesses. Employees are one of a corporate organization's most valuable assets. So, it is needful to protect them. Therefore, human resources requirements for small businesses are essential. Let us Know What Human Resource Management is The Small Business Association (SBA) defines human resources as: "The people who work for a company or organization" "The department of a company that is responsible for managing those resources." Human resource management (HRM) is concerned with your workers, whether they are hired, managed, or require other types of direction and support. Human resource management involve significant duties; some basic human resources requirements for small businesses should be considered and fulfilled. They are those who establish the tone for how employees interact,resolve conflicts, and collaborate. There is a new trend in human resource outsourcing, and some small businesses are deciding to outsource a significant component of their human resources. Responsibilities of Small Business Human Resource Management Recruitment and selection Education and development Compensation and benefits Retention of employees Creating an atmosphere that is safe, healthy, and productive Cross-organizational communication Benefits of a Human Resources Department Ensure a safe and healthy work environment Attract and retain high-caliber individuals Maintain compliance Access Human Resources Anytime, Anywhere Improved Onboarding Access to Employee Benefits at Large Corporations Contribute to Time and Energy Savings Fundamental Component of Human Resources For small businesses, employing dedicated people in meaningful work can enhance performance, loyalty, and retention. Thus, in combination with the human resources manual for small businesses, the human resources department supports them in achieving their goals. This is accomplished, however, by increasing workplace happiness, making judicious use of existing resources, and developing an efficient expenditure model. by boosting workplace satisfaction, judiciously utilizing available resources, and establishing an effective expenditure model. With the clearly defined human resource policies and best practices for small businesses, you can assist workers in their growth and in contributing their expertise and knowledge for the growth of the firm. Whether a small or a large business, the success of a corporation is highly dependent on its ability to manage both internal and external stakeholders successfully. The HR department very well accomplishes this. Below Are Some Human Resources Requirements for Small Businesses. Employee Records Maintaining employee records is an essential aspect of the human resources manual for small businesses. Having it done guarantees that your business complies with labor rules and is protected in the event of a future issue. Regardless of your business's size, it is requisite to gather and maintain these three papers for each employee to protect yourself and your company. I-9 File: The US Government utilizes this form to determine and verify the eligibility of your personnel to work in the United States. Personnel General File: This section covers the paperwork and certificates obtained from workers throughout the employment process. This includes resumes, verification of training, W-4 forms, payroll information, and disciplinary actions. Medical Records of Employees: This file may contain doctor's notes, information on a disability, or information about a medical check-up. The information contained inside is confidential and must be kept secure against unauthorized access. Employees Guidebook Employee's guidebook is a vital aspect of small business human resources element. The handbook includes an idea of expectations, best practices, and requirements. It also includes: The organization's vision, objectives, and values The code of conduct The anti-discrimination rules The safety and security regulations The non-disclosure agreement Work schedules (covering how to monitor time, take leaves, and notify management of leaves) Other general information not required by law Posters That Are Required The nation's or state's laws in which your business operates may require you to publish information at your place of business or in an easily accessible location. Additionally, the Department of Labor (DOL) requires posting certain labor law posters in the workplace. Parting Words While many business owners believe that small business human resources costs are redundant, a human resource department may have a significant influence on your workers' well-being and the success of your firm. Unfortunately, many employees quit their employment due to poor or non-existent human resource management. Frequently asked questions: Does a small business need human resources? Every business, regardless of size, must have a human resources department or at least one person dedicated to HR duties. HR simplifies many duties for business owners, allowing them to focus on other critical elements of operating the firm. In addition, human resources can do a variety of tasks that other employees are unable to. What are the essential human resources requirements for small businesses? Human resources are the bedrock to your organization because it is responsible for hiring skilled workers who appreciate your corporate culture. The most critical human resources requirements for small businesses to succeed are: Employee documentation Required posters Employee handbook Employee development and training Employee benefits Hiring process { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "Does a small business need human resources?", "acceptedAnswer": { "@type": "Answer", "text": "Every business, regardless of size, must have a human resources department or at least one person dedicated to HR duties. HR simplifies many duties for business owners, allowing them to focus on other critical elements of operating the firm. In addition, human resources can do a variety of tasks that other employees are unable to." } },{ "@type": "Question", "name": "What are the essential human resources requirements for small businesses?", "acceptedAnswer": { "@type": "Answer", "text": "Human resources are the bedrock to your organization because it is responsible for hiring skilled workers who appreciate your corporate culture. The most critical human resources requirements for small businesses to succeed are: Employee documentation Required posters Employee handbook Employee development and training Employee benefits Hiring process" } }] }

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20 Ways to Tell Customers ‘Thank You for Supporting Small Business

Article | July 28, 2021

Every small business owner is thankful for their customers. Without those loyal customers that keep coming to your door, running your business would be a lot harder. When customers give you the love—putting their dollars into your small business—it’s nice to give them some love back. In fact, showing a little customer appreciation might help keep your customers coming back to you. Research shows that 68% of customers will switch the brands they shop with if they feel that the businesses don’t care whether they shop with them or not. So how can you say, “thank you for supporting my small business?” Here are badges, ideas, and more creative ways to show your customers just how much you appreciate them.

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Stipenda

Stipenda is a leading provider of international employment, payroll and compliance solutions for PEO providers and their clients. Partner with us, and you can extend your offering to clients almost anywhere in the world.

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