5 women entrepreneurs on the business pivot that changed everything

LINDSAY TIGAR | January 22, 2019

article image
For entrepreneurs who are willing to take a risk on a big idea, the concept of shifting directions and changing up everything can be terrifying. Even so, customer habits change rapidly, along with digital trends, so a tolerance for risk is essential.From an ice cream store that took a leap of faith beyond its state border to an intimate line that pulled its product from 700 retail stores based on a gut reaction–you’ll feel inspired by these daring women who pivoted their companies and changed everything. When the co-founder and CEO of Portland-based Salt & Straw Ice Cream, Kim Malek, was first building her business for three years, things started off slowly. Or rather, as she put it–her team was barely holding down the fort for their three locations in Oregon. Considering that she had cashed in her 401(k) and had a garage sale to drum up funding, everything she had was invested in her dream company.

Spotlight

ClickZ.com

ClickZ is the largest resource of interactive marketing news, information, commentary, advice, opinion, research, and reference in the world, online or off. From search to e-mail, technology to trends, its coverage is expert, exclusive, and in-depth. Its mission: to help digital marketers do their jobs better. ClickZ.com is part of the ClickZ Group and is owned by Contentive Media.

OTHER ARTICLES

A Comprehensive Guide to Social Media Strategy for Small Businesses for 2021

Article | July 6, 2021

With the emergence of COVID-19, social media became a powerful platform for small businesses to connect directly with an audience and thus, build brand awareness, direct sales, reaching the target audience, and cultivate customer relationships. As a result, social media strategy for small businesses is in high demand. According to the most recent data, there will be 4.33 billion social media users worldwide at the start of 2021, accounting for more than 55% of the total global population. With more than 70% of the US population having a social media account, these platforms and services have risen to prominence as some of the most popular online activities in recent decades. As a result, the number of social network users in the United States will reach 243 million by 2025. Furthermore, the world spends more than 10 billion hours per day on social media platforms, equating nearly 1.2 million years of human existence. The statistics states that maximum people spend most of their time on social media apps; thus it is a powerful platform of marketing for small businesses. What is a social media strategy for small businesses? A social media strategy enlists everything you want to do and achieve on your preferred social media platform. It contains information about your goals, what you intend to post, and how you intend to measure the success of your goals. Social media strategy requires setting social media goals and objectives. A smart social media strategy helps you build brand awareness, connect directly with customers, increase revenue, and build relationships with your audience. The more detailed your social media plan, the more effective it will be. The primary goal of social media strategy is to create a systematic plan for maximizing engagement and interactions across social media platforms to achieve a company's goals. Why do you need a social media strategy for your small business? Trying to build a strong brand on social media is not a piece of cake. It demands a well-defined strategy that will help you to build a strong and organic presence online. Having a well-built social media strategy helps you save time. Social media is a crucial part of an inbound marketing strategy and requires a lot of effort. At one point in time, social media was just an option for small businesses, but 2020 has made it essential. Social media strategy enables targeting your audience more effectively and will also help you stay ahead of the competition. To taste success, small businesses should have a social media strategy in place. According to the study, 53% of customers who follow a company on social media are more likely to be loyal to them specifically. There are several social media channels available such as LinkedIn, Facebook, Instagram, Twitter, YouTube, etc. From a social media marketing perspective, Facebook is the most used social platform and can be one of the best social media channels for small businesses. However, having a dynamic social media strategy for small businesses is extremely beneficial for its success. Set social SMART goals It is easy to start using social media for business, but before that, it is important to create a social media plan that ensures all social efforts support specific business goals. Be clear on your goals for making social media plan. Hence, create smart goals with a SMART framework. A SMART goal is defined as specific, measurable, achievable, relevant and time-bound. You can keep your efforts focused and effective by setting these goals for social media marketing tips. Specific: Be specific with your goals and objectives to set your strategies and determine which channel will assist you in achieving them. The goals of each business owner differ; some want to connect with customers, while others want to increase conversations or traffic to their website. Measurable: Your goals need to be measurable to determine the effectiveness of your strategies. Each social media network has a set of metrics that businesses can use to gauge their efforts. However, few tools like Google Analytics help to track engagement and conversion metrics. Achievable: Your goals need to be achievable by your business. Relevant: Your goals need to be relevant to the objectives of your business. Time-bound: Your objective must be time-bound. But determining the best time frame can be difficult. Set a quarterly goal to ensure you don't waste time on ineffective strategies for too long. Evaluation will be simpler and more frequent. Setting a SMART goal is an essential social media strategy for small businesses. For 2021 and beyond, SMART goals are the most popular and long-lasting goal-setting frameworks in the industry. Hand-pick the right social media platforms Choosing the right social media platforms among over 100 platforms available is a bit tricky. How do you know which is the right one for your business? If you try to use multiple channels at the same time, your chances of success will decrease, and it will be difficult to deliver a consistent experience across all platforms, especially for small businesses with limited resources. All social media platforms have advantages and disadvantages; you must be cautious when choosing the right network, keeping in mind your target audience and where your current customers are most active. Choose the platforms that make the most sense for the nature of your business. Pay attention to trends of social media It is a good practice to pay attention to trends in social media because they change all the time, so you will be aware of what people are looking for in social media platforms when they are active. As a result, you will be able to create content that is relevant to the search. It is critical to monitor social media trends and keep your social media strategy up to date to achieve your business goals. Keep in mind your current audience’s needs so that you can change your strategy accordingly. Customer’s tastes, behavior, and likings are dynamic, and you will know it only when you keep track of social media trends. If small business owners want to take advantage of social media platforms, they will have to pay attention to the social media trends. Track and measure your social media goals Tracking and measuring the performance and progress of your social media goals is important once you implement your social media strategies. Consistency is essential for the success of social media strategy for small businesses. There are analytic tools such as Google Analytics that give you information about the metrics. Social media goals determine your metrics. Social media metrics give you a clear picture of how well your social media strategy is performing. Once you know how your strategy is working, you can find ways to improve it further. When you have determined your goals and social media metrics, you can choose the right social media tools to help you manage your accounts, monitor engagement, and advertise on social platforms. To track and measure your social media goals is one of the important social media marketing tips. Schedule social media calendar for small business A small business owner needs to be consistent in their presence on social media. Now the question is, how do you do this? When you have a long list of things-to-do, you can schedule posts in advance by making use of technology and tools. By using tools, schedule a social media calendar for small businesses to post them automatically at the right time. This will give you consistency as well as save time. It is of utmost importance that your social media plan for small businesses include certain fixed days every month or a fixed few hours every week to schedule your social posts. It gives you ample time to concentrate on other aspects on different platforms for real-time engagement when you plan it well. This is an effortless social media strategy for small businesses. Frequently Asked Questions: Which social media is best for small businesses? The most common social media platforms used by small businesses include Facebook, Instagram, Twitter, LinkedIn, and Pinterest. Social media is easy for small business owners because it is cost-effective. Among all these, LinkedIn is considered best for small businesses to connect with other businesses and professionals. Why is social media good for small businesses? Social media helps you build brand awareness, connect with current customers, and increases your customer base. Social media platform gives you a better understanding of your customers. What are the five benefits of social media? The benefits of using social media are endless. A few benefits to pen down are it helps to build relationships, increases visibility, helps connect with wider audiences anytime, anywhere, reduces marketing costs, and provides better search engine rankings. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "Which social media is best for small businesses?", "acceptedAnswer": { "@type": "Answer", "text": "The most common social media platforms used by small businesses include Facebook, Instagram, Twitter, LinkedIn, and Pinterest. Social media is easy for small business owners because it is cost-effective. Among all these, LinkedIn is considered best for small businesses to connect with other businesses and professionals." } },{ "@type": "Question", "name": "Why is social media good for small businesses?", "acceptedAnswer": { "@type": "Answer", "text": "Social media helps you build brand awareness, connect with current customers, and increases your customer base. Social media platform gives you a better understanding of your customers." } },{ "@type": "Question", "name": "What are the five benefits of social media?", "acceptedAnswer": { "@type": "Answer", "text": "The benefits of using social media are endless. A few benefits to pen down are it helps to build relationships, increases visibility, helps connect with wider audiences anytime, anywhere, reduces marketing costs, and provides better search engine rankings." } }] }

Read More

The Changing State of the Office

Article | June 15, 2021

It’s been more than a year since the pandemic shutdown began. And in that time, the office, like the entire world, has changed — most likely forever. But the changes we’ve seen to date are just the start; more are on the horizon. This was ever-present throughout May as the news cycle continued its coverage of companies and states pulling back their return to office plans. As large companies grapple with bringing employees safely back to the workplace, small-to-medium business (SMB) owners have both advantages and disadvantages. They are usually more agile and can institute change more quickly than their larger counterparts, but their budgets and operational plans may not readily handle sudden shifts.

Read More

Payroll Tax Changes for Small Businesses Impacted by Coronavirus

Article | April 10, 2020

As small businesses across the country fight to remain in operation and generating revenue despite the coronavirus pandemic, making payroll has emerged as one of the biggest ongoing dilemmas for business owners. Businesses are now compromised in terms of their ability to pay their employees, due to a combination of health concerns, shelter-in-place restrictions, limited foot traffic, and reduced spending by customers. No business owner wants to lay off their staff, but if money isn’t coming in, there are few other options.

Read More

10 PERSONAL BRANDING TIPS FOR ENTREPRENEURS TO ELEVATE BUSINESS

Article | June 2, 2021

Personal branding is a prerequisite to building a compelling brand story if you are an entrepreneur. More than your product/brand, people will resonate with your story. Especially if you have a promising business and are looking to scale, this will help you get your business validation from the experts. Building a personal brand is one of the many milestones of your entrepreneurial journey. Consequently, this will improve the brand recall among the target audience. Let’s explore several personal branding tips that will help entrepreneurs build a brand to elevate business.

Read More

Spotlight

ClickZ.com

ClickZ is the largest resource of interactive marketing news, information, commentary, advice, opinion, research, and reference in the world, online or off. From search to e-mail, technology to trends, its coverage is expert, exclusive, and in-depth. Its mission: to help digital marketers do their jobs better. ClickZ.com is part of the ClickZ Group and is owned by Contentive Media.

Events