linksy domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/sites/36b/b/b62134768b/public_html/avada/wp-includes/functions.php on line 6260Avada domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/sites/36b/b/b62134768b/public_html/avada/wp-includes/functions.php on line 6260While influencer marketing may be complicated, you don’t necessarily have to take a class to get better at it. You just need to find and use the right resources for your influencer marketing to guide you through the various aspects of an influencer marketing campaign.
In this post, I’ve compiled 10 of the best influencer marketing resources to help you become better at social media influencer marketing. Check them out:
If you’re new to influencer marketing, there’s probably a lot you don’t know yet. So you’ll need a comprehensive guide to help you gain a better understanding of this powerful marketing channel for social media.
That’s why Hootsuite’s, “Influencer Marketing 101,” would be a perfect influencer marketing resource for you.
In this guide, you will learn all about the biggest mistake you should avoid when launching an influencer marketing campaign. It will teach you how to focus more on the target audience, instead of only on the influencers.
The guide also takes you through the process of identifying the right influencers to work with. And finally, you’ll also find out how to measure the ROI of the campaign.
Overall, “Influencer Marketing 101,” is just what you need when you’re launching your very first influencer marketing campaign.
It teaches the basics of social media influencer marketing in ways that even the most novice marketers can understand and implement in an influencer marketing strategy.
While, “Influencer Marketing 101,” covered the basics of influencer marketing, there’s still a lot you need to learn.
For instance, you might not yet know how to come up with an effective strategy to pull off your social media marketing campaign. Or you might struggle to optimize the distribution of influencer-created content for best results.
Whatever the case may be, “The Ultimate Influencer Marketing Guide” by TapInfluence is an all-in-one guide to help you plan and execute your campaigns. It also links to a few other valuable resources for influencer marketing on:
It covers a number of aspects that can help you effectively strategize, monitor, measure, optimize, and scale your influencer marketing campaigns.
For an influencer marketing campaign to be successful, you first need to convince influencers to work with you. It’s important to remember that influencers aren’t just another advertising tool, even if you pay them to promote your brand.
You have to make them want to work with you, so you have a genuine relationship with them, and your campaign becomes more authentic. This is where IZEA’s, “How to Get Creators to Want Your Social Media Sponsorship,” enters the picture.
This ebook is one highly curated resource for influencer marketing that can help you attract more influencers to your brand.
It talks about how your brand reputation can affect an influencer’s reputation, which could affect their desire to work with you. You will also learn all about creative freedom and its impact on the quality of your influencer-created content marketing.
Sometimes, the best way to learn is to observe and analyze how others pull it off. This holds true for influencer marketing as well.
You can learn a lot from brands that nailed their influencer marketing campaigns to get more exposure or engagement. Examples of successful campaigns from reputable brands can help you understand what works and what doesn’t.
This can help you plan and execute your next influencer marketing campaign in a better way.
The collection of case studies from HYPR can give you actionable insights into how you can use influencer marketing to boost your sales.
For instance, one of the case studies is about a brand that managed to increase sales by 200% with the help of brand advocacy groups. You could take a closer look at what worked for this brand, and how you can experience similar (or better) outcomes with your own campaign.
If studied properly, these case studies can act as one of the most beneficial resources for influencer marketing behind the success of your upcoming social media campaigns.
You may already be familiar with influencer marketing and might have executed several successful campaigns. But you still want to take it further, and drive even better results from your next campaign.
If that’s the case, you can learn a lot from “Influence 2.0: The Future of Influencer Marketing,” an in-depth study sponsored by TopRank Marketing and Traackr. The report is a result of a survey of 102 brand leaders from reputable companies such as American Express, Adobe, and Amazon Web Services.
As another valuable resource, this study speaks about the evolution of relation-driven marketing. According to predictions, the game of influence will shift from tactical influencer programs to long-term influencer relationships that live beyond a single campaign.
To keep up with this trend, you’ll need to make influencer relationships a priority. This guide can also help you learn how to use the top influencer relationship management (IRM) platforms to build and strengthen your relationships with influencers.
This resource will also help you discover new ways to align your strategic content marketing with influencer engagement. You can learn how to leverage influencer programs to reshape your content marketing and customer journey optimization strategies.
This can enable you to yield more productive results with a proper understanding of what influences customers’ decisions and how to integrate this knowledge into your own campaigns.
This report on the future of influencer marketing also covers the aspects of budget and resources, enabling you make better strategic investments. So you’ll be able to gain thorough insight into how you can advance your influencer marketing game plan.
As mentioned earlier, influencer marketing is constantly evolving, especially on social media. So naturally, there will be new insights every now and then.
If you plan on advancing your influencer marketing efforts, you need to stay updated with those insights.
Maybe it’s an insight about generating greater ROI through long-term influencer collaborations, or how authentic partnerships can be the key to your success.
You can find all of these insights on the, “Influence Pros,” podcast by Convince and Convert, which makes it one of the top influencer marketing resources for marketers.
“Influence Pros,” is a weekly show where you can get regular updates on the latest success stories and tips to help you boost your influencer marketing ROI. You’ll get fresh and actionable tips that will help you adapt to the changes in influencer marketing.
And you can find out how to improve on your current strategies – whether it’s building trust and lasting relationships with influencers, or developing your core values before working with an influencer.
If you’re a marketer, you already know the importance of content marketing and its role in promoting a business.
It’s also important to note that influencer marketing and content marketing can be blended together to create a highly effective marketing campaign, particularly on social media.
To better understand the developments in these two channels, you can read up on IZEA’s, “2017 State of the Creator Economy.”
This influencer marketing resource can help you gain a better understanding of influencers’ perspectives on influencer and content marketing. You can find out useful insights, such as the social media platforms content creators are leaning towards, and how you can use this for your benefit.
You’ll also understand the perspectives of influencers and marketers on various marketing approaches. And find out which techniques seem to win the majority vote. The study also determines the overall usage of various social media platforms by U.S. consumers.
You can use all of these insights mentioned in this resource to change or optimize your influencer marketing strategies.
Brands choose influencer marketing because it’s likely to be less promotional and more authentic than traditional advertising. At the same time, many brands tend to overlook the fine print because they’re trying too hard to take the soft-selling approach.
For example, a brand sends out samples of a product to an influencer and additionally pays them to promote the product. The influencer promotes the product on social media but fails to mention that the post is sponsored by the brand.
Failing to disclose sponsorships or incentives in an influencer’s content could land you in serious trouble with the Federal Trade Commission (FTC).
So if you need some more information and tips regarding FTC disclosures and sponsorship rules, you can check out a Business Grow article on the topic.
The article is a great resource that can help you launch influencer marketing campaigns that are in-line with the FTC guidelines.
The article illustrates the danger of failing to heed the FTC guidelines with a real-life example from Lord and Taylor. The brand previously got into trouble with the FTC for sponsoring influencer content in which there was no disclosure about the sponsorship.
You can protect your brand from any trouble with the FTC if you follow the tips mentioned in this article.
You already know that your relationship with an influencer plays an important role in the success of your marketing campaign. And to build a strong relationship with an influencer, you’ll need to understand them better.
Although influencer marketing has shifted focus from the influencer to the audience, the influencer is still a major aspect you need to understand. To develop that understanding, you can check out the TapInfluence and Altimeter report.
This report is based on an in-depth study of marketers and influencers. You can learn all the basics, like the challenges marketers face with influencer marketing, and how marketers measure ROI.
But what’s unique about this influencer marketing resource is that it also helps you understand influencers better.
Through this report, you can learn more about influencer marketing from the point of view of an influencer. You can find out how influencers measure the effectiveness of campaigns and the value of influencer marketing to them.
You can also learn what kind of mistakes brands make when working with influencers, so you can avoid those mistakes.
All of these resources can help you significantly improve the ROI of your influencer marketing campaigns.
Along with these resources, you can also use Influencer Marketing Blueprint, an ebook that I’ve prepared as an ultimate step-by-step guide to launching successful campaigns.
This ebook can help you to identify and then approach the best influencers to work with. You can also learn how to engage with influencers in a better way and build lasting relationships with them.
It also includes a few ready-made outreach templates that you can download and use for free along with a list of some of the most effective influencer marketing tools.
You now have a complete set of influencer marketing resources to guide your next influencer marketing campaign and improve your existing digital marketing strategy. These resources cover pretty much every aspect of influencer marketing.
You can learn a great deal from them, whether you’re new to the channel, or you’re an expert in it.
If you know of any other influencer marketing resource that needs a mention here, please let me know in the comments below. And if you have any questions, you can always reach out to me for a consultation.
I’ll be happy to help you upgrade your influencer marketing strategy in ways you can’t even imagine.
]]>A lot of people might be mistaken, thinking it’s easy and take no skills. That’s where they’re wrong.
Becoming an influencer takes a lot of hard work, whether you want to be a social media influencer, or work in the entertainment industry, becoming an influencer will take time, and comes with a lot of responsibility.
In this article, I’ll guide you through all of the steps to becoming an influencer.
Disclosure: This post may contain affiliate links, and we may earn a small commission, at no extra cost to you. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for yourself.
In simple terms, influencers are social media personalities with many loyal and engaged followers. Most influencers share a friendly rapport with their fans.
The fans, in turn, often regard these influencers as role models and follow their recommendations. In fact, influencers are often perceived as authority figures or experts in their respective niches.
Want to know why they are so influential?
Owing to the accessibility of social media platforms, influencers are able to establish personal connections with their followers.
Unlike traditional celebrities, their lives aren’t shrouded in an air of mystery. This is what gives them sway over their audience.
Instead, influencers often reveal a glimpse of their personal lives to their followers. This is precisely what helps them establish friendly bonds with their fan base.
Influencers are social media celebrities who have a certain amount of leverage with their fan communities.
The most significant factor that distinguishes influencers from high-profile celebrities is that the former adds their unique and authentic voices to their content. This helps them earn the trust and loyalty of their followers.
In fact, 70% of millennials claim to be more influenced by bloggers than celebrities.
It is also important to ensure that your content is grammatically correct and has the right tone. You can achieve that by using the ProWritingAid style editor and grammar checker.
Influencers can be put into categories according to their follower count or their content/niche.
Let’s take a look at both.
There are between 3 and 37 million influencers according to EarthWeb. With such a large number, it can be expected that some garner much larger followings than others.
That’s why influencers can be categorized according to their follower count, as follows:
Nano-influencers with their small community of followers tend to be very engaged and yield high engagement rates.
The reason is that people who tend to follow these nano-influencers are most likely following them because they are interested in their content, rather than following them just because they’re famous or trending.
Nano-influencers are usually also more engaged and specific with their sponsors and what they promote, which helps their followers to fully trust their endorsements.
Nano-influencers are also able to engage more closely with their audiences since a smaller follower count means you can easily answer a larger percentage of your followers’ questions and comments.
Although boasting a larger follower count, micro-influencers still have a relatively decent engagement rate, although a bit lower than nano-influencers.
At this point, most influencers have settled on a subject or niche, becoming somewhat of a “professional” in their field of content or niche.
This makes it easier for brands to be able to pinpoint an influencer’s target audience. Marketing campaigns with micro-influencers are often the best option of the 4 types.
Macro-influencers have amassed a large following of over 100k, but haven’t joined the 1M club yet.
These tend to be internet celebrities, which typically include social media influencers, bloggers, vloggers, and podcasters.
At this point, the large number of followers means that some might only be there for certain content, whilst other followers might only engage every so often. This means that the engagement rate on the posts of macro-influencers is much lower than on posts from nano and micro-influencers.
Mega-influencers are full-blown celebrities with millions of adoring fans around the world.
They don’t come cheap and can ask for a lot of money for sponsored content or brand deals. Their engagement rate is the lowest of the 4 types, but their audience reach is obviously the highest.
Now, let’s take a closer look at the different types of influencers based on their content or niches.
Gaming influencers are people who enjoy a certain aspect, or all, of gaming.
They create content geared towards the gaming community, whether it be playing games, reviews, news, or livestreaming.
Markiplier is a mega-influencer coming from YouTube fame as a gaming channel. Currently, he has 33.7 million subscribers.
A lot of gaming influencers post video content on YouTube, as well as livestream gaming sessions on YouTube or Twitch.
Fitness influencers are all about looking and feeling great.
Fitness influencers come in many different forms. Some provide only nutritional advice, with others offering exercise and workout guidance. Some prefer to post a mix of both on their social media accounts.
Jeff Cavaliere, better known for his social media account, Athlean X, has over 13 million subscribers on YouTube and 2.2 million followers on Instagram.
His videos are a mix of exercise programs, exercise advice, and nutritional guidance. He’ll also vlog about his daily routines or heating habits occasionally.
Photography and photographers become internet celebrities through their remarkable skills in taking and editing photos.
Photographers who share their work on social media might be lucky enough to get to endorse a large camera manufacturer like Canon or Sony.
They might also offer classes or tips on taking better pictures.
This is Chris Burkard’s Instagram account. He is a photography influencer with over 3 million followers on Instagram. He specializes in taking photos of nature and scenery.
Fashion and beauty influencers spent most of their time designing clothing or giving fashion advice, including makeup and styling advice and tutorials.
Macro and mega-influencers tend to get sponsored deals with large fashion design or cosmetic companies.
Lauren Conrad is a famous fashion and cosmetics influencer with 5.9M followers on Instagram. Recently, she launched her own fragrance brand.
Food influencers spend a lot of time creating food content related to cooking, food blogging/vlogging, and reviewing the latest food trends and restaurants.
A popular “foodie” is David Chang. With 1.7M followers on Instagram, David Chang has to spend his time wisely between his family, food vlogging, and running his chain of restaurants called Momofuku.
The life of a social media influencer is envied by many. What we often fail to recognize is the persistent effort they have to put in order to live a life of luxury and glamour.
The truth is that there is no easy answer to the question of how to become an influencer. However, there are certain steps that you can take in order to steer your efforts in the right direction.
If you want to become an influencer, you can’t expect to be a “Jack (or Jane) of all trades, master of none.” It is crucial that you pick a niche that aligns with your image.
An easy way to select your niche is to evaluate your strengths and weaknesses. Choose a niche that allows you to showcase your strengths and hone your skills further.
Deciding on a particular niche will help you streamline your audience and tailor your content to suit their preferences.
Typically, when deciding on how to become an influencer, you can choose one of the following categories:
You don’t have to limit yourself to just one of these categories. You can combine two or more of these niches. Make sure the individual niches align with one another. For instance, you can combine travel and lifestyle or beauty and fashion when you decide on your niche.
It is not mandatory for you to stick to these established and well-known niches. The key to becoming a social media influencer is adding your unique voice to everything you do.
So, don’t hesitate to experiment and carve your own niche that allows you to exhibit your strengths as well as your quirks.
For instance, 24-year-old, Karina Garcia, became an overnight YouTube sensation just by uploading wacky videos of slime.
She has more than 8 million subscribers on YouTube, who aptly refer to her as the “Queen of Slime.”
In addition, she has also published two bestselling books and has launched her own crafting brand named Craft City.
As an influencer, you need to have a powerful presence on the internet.
However, that doesn’t mean that you should use all the social media platforms and distribution channels out there. Depending on your niche, certain platforms might be better suited for your content than others.
For instance, if you are a fashion blogger, Instagram would work better for your visual content than other platforms such as Twitter and LinkedIn.
In fact, 93% of social media influencers prefer Instagram as it delivers the best results.
However, that doesn’t mean that you should focus all of your effort on Instagram if your niche doesn’t align with the platform.
Want to know more criteria for selecting a platform?
You should also consider the platform that your audience is most likely to use. For instance, if your target audience includes millennials, you should focus your effort on Snapchat and Instagram.
If you choose to utilize multiple social media platforms, make sure that you tailor your content for each channel.
For instance, digital marketing guru, Neil Patel, actively uses Twitter to promote his blog posts and other content.
This is obvious considering most of his target audience (entrepreneurs, digital marketers, content creators, etc.) is likely to frequent this platform for meaningful content.
While it is recommended that you select the platform that is most suited for your content and target audience, you shouldn’t ignore other distribution channels.
Instead, you should strive to acquire a basic working knowledge of other channels so that you can utilize them in the future if the need arises.
High-quality content is perhaps the most potent answer to the question of how to become an influencer. It is extremely important to publish unique and authentic content that resonates with your audience.
In fact, this is the only way to keep your audience hooked to your content. Regardless of the type of content you create, it should be meaningful and valuable.
Depending on your niche and distribution channels, you can choose different types of content such as blog posts, photos, videos, podcasts, etc.
You can also run joint giveaways or contests on social media channels with the brands that you collaborate with. You can use a tool like VYPER to create engaging contests and giveaways that attract tons of participants.
It is crucial to add your signature voice to every piece of content you create. That is what will distinguish you from other people who are also trying to figure out how to be an influencer.
Wondering how to do that? Let’s understand with the help of an example.
For instance, photographer and lifestyle influencer, Katie Stauffer, received mass acclaim by uploading videos of her 2-year old daughter, Mila, on Instagram.
What distinguished her content from other similar Instagram pages was Mila’s dialogue delivery and mature acting skills. Today, Stauffer is followed by 4 million devoted Instagram users who look forward to the next video featuring Mila.
It is extremely important that you find the unique quirk or trait that distinguishes you from other influencers in your niche. Once you have identified this unique selling proposition (USP), incorporate it into your content as much as possible.
In addition to helping your content stand out, this will also establish your image as an influencer. It is advisable that you integrate this USP into your sponsored content as well.To ensure that your content tone and style remain consistent, use a style editor like ProWritingAid.
An effective way to ensure that your content garners traction is to create content that your audience wants.
In order to get relevant content ideas, you can run a quick Google search for your niche. Scroll down to the bottom of search results to find the long-tail keywords that are being used by your target audience.
You can also search platforms such as Quora and Reddit to get an idea of what your target audience is talking about.
If you want your content to strike a chord with your audience, you must have a deep understanding of your follower community.
Most social media platforms have an analytics section that can give you meaningful insights into your target audience. You get access to audience demographics data such as gender, geographic location, occupation, online behavior, etc.
In addition, you should pay close attention to the comments section of your social media and blog posts.
It can be a goldmine of fresh content ideas that your audience wants to read/watch. You can also conduct polls on social media channels and ask your followers to tell you all about their preferences and pain points.
If you are wondering how to become an influencer and excel at it, the answer is to make judicious use of the right hashtags. Your content only becomes valuable and meaningful when it reaches the right audience.
An effective way of giving increased visibility to your content is by adding appropriate hashtags to your social media posts. This is especially useful for people who are just starting out as influencers and need to grow their audience.
Identify the most relevant and trending hashtags in your niche. Then use them in your posts to get your content seen by an entirely new audience that may have been unaware of your existence.
For this, you can use HashtagsForLikes to identify the top-performing content and hashtags in your niche. This tool can help you find hashtags that you can use to amplify your reach on social media channels. It makes the process of hashtag targeting a lot easier and quicker.
When using hashtags, you should be careful not to flood your posts with unnecessary ones. Only use hashtags that align with your image as an influencer.
Take a look at the screenshot below to understand how Brian Kelly, aka The Points Guy, makes effective use of hashtags in his Instagram posts.
Wondering what else you can do? In addition to using popular hashtags, you can also create your own unique hashtag to widen your reach even further.
Encourage your followers to upload content on their own profiles using your branded hashtags.
This popularizes your hashtag and builds awareness about you in your followers’ social networks.
Publishing high-quality content on a regular basis is one of the most effective ways to retain your audience’s attention. When you deliver good content on a regular basis, it creates a sense of anticipation among your audience.
That, in turn, boosts audience engagement and increases your reach.
It is advisable that you create a timeline for all the content you plan on publishing in the next few months.
You can also create a weekly or monthly series to keep your audience hooked.
For instance, Nusair Yassin, aka Nas Daily, made a promise of uploading one 1-minute video on Facebook every day, for a thousand days.
People started keeping track of his Facebook page to find out if he was keeping his promise.
Nas did, in fact, keep his promise, as a result of
However, you should ensure that the quality of your content is never compromised in an attempt to maintain regularity.
If a situation arises where you can’t deliver content on the proposed date, publish a post to communicate that. Assure your audience that you are working on the content and it will be available soon.
When you are running out of good quality content, you can use of the Stories feature on Instagram and Facebook. You can upload simple pictures to give your audience a sneak peek into your workspace or living room.
This can help keep your audience engaged and help you stay connected with them without spending hours perfecting a video.
When you are starting out, and still wondering how to become an influencer, partnering with someone famous in your niche can be of great help. It gives you access to their fan base and allows you to attract them to your social media profiles.
You must be able to offer something of use to the other social media influencer in order to tempt them to collaborate with you. If the bigger influencers seem out of reach, you can even partner with micro-influencers who have small yet highly engaged fan bases.
A media kit serves as a digital portfolio for an influencer. Think of it as a way to show brands what you can help them achieve.
Whether a brand approaches you for collaboration or you want to pitch a brand that you’d like to work with, having a media kit will help you stand out as an influencer.
Your media kit should include details like:
You can easily create an impressive media kit online with real-time data and analytics using a platform like MediaKits.
It offers multiple customization options to ensure that your media kit reflects your personal brand perfectly.
Additionally, you can also build a website to add credibility to your image and help you win the trust of your target audience. It is easy to build one using website builders like WordPress.
If you are wondering how to become an influencer with a devoted follower community, the answer is to keep them engaged.
One of the most effective ways to boost audience engagement is to host an AMA (ask me anything) session on the platform of your choice. In addition to keeping your audience engaged, it will also help establish your expertise in certain subjects in your niche.
Another clever way to improve engagement is to announce a giveaway. Typically, you offer your followers a reward in exchange for likes, comments, and shares on your posts. You can also ask them to tag their friends on the giveaway announcement.
You can use customizable templates from VYPER for your giveaway. This will save you time and effort in creating and running your giveaway.
A contest is similar to a giveaway, except that the participants are required to upload specific content or use your branded hashtag in order to be eligible to win.
Contests and giveaways also help you reach out to a wide audience and grow your followers. You can collaborate with other influencers or brands in your niche in order to make them more effective.
Make sure you clearly specify the rules, deadline, rewards, etc., and announce the winner at the promised time. One of the best answers to the question of how to become an influencer is to host giveaways and contests to keep your audience engaged.
VYPER can help you with both contests and giveaways starting from the designing aspect to the kind of incentives to provide. Use this tool to take your social media contests and giveaways to the next level.
The simplest answer to the question of how to become an influencer is to maintain a personal connection with your audience.
Most platforms, such as Facebook, Instagram, and YouTube allow users to go live and share real-time updates with their followers.
You can use this to your advantage and give your audience a glimpse of behind-the-scenes action at an event or a party. It makes your followers feel closer to you and reinforces their loyalty.
You can also host a live AMA session to communicate with your followers in real time.
This is an extremely effective strategy to boost engagement. At the same time, it also allows you to get a fair idea of what your audience likes/dislikes and expects from you.
Make sure you notify your followers about the session in advance.
As your audience grows and more people start appreciating your content, they are likely to leave their feedback in DMs and comments.
Responding to each and every comment might be a herculean task. However, it is advisable that you reply to as many as possible.
A response from your side validates the trust that your fans put in you and makes them feel more connected to you.
Savi and Vid, the traveling duo of Bruised Passports, make it a point to respond to the comments on their Instagram posts. This has helped them attract an army of 287,000 loyal and devoted followers on Instagram.
In addition, you can also do a shout-out for any exceptionally positive feedback you receive. It makes the sender feel rewarded and strengthens their faith in you.
If you want to know how to become an influencer, the key is to value your audience members as much as they value you.
]]>This ultimately ends up with shooting yourself in the foot. Neglecting marketing altogether in the early days stifles growth and can land founders in an even more restricted budget due to lower revenue figures.
Marketing departments rarely exist in many early-stage startups. Founders and other leaders often oversee multiple aspects of the business, with marketing generally falling down the list of priorities. Needless to say, this is a problem; companies must ultimately grow revenue to be sustainable, and doing this without even a small-scale marketing strategy can be difficult.
The best kept secret of marketing for startups? Some of the most effective strategies are completely free.
In the early stages of brand development, investing lots of money into long-term strategies simply doesn’t make sense. Leaders need a low-budget, high-return approach that drives brand awareness, and crucially, attracts the right type of customers to the business’ product.
Founders usually start a business either to resolve a problem that they have personally experienced, or because they have spotted a gap in the market that they believe they can fill. Taking the initiative to start a business requires significant expertise in the designated market, which should not only feed into the business’ operations, but is a goldmine for marketing too. Unfortunately, all too often this expertise is not tapped into.
Increasingly, consumers want to buy from a company made up of experts in any given field. 71% of consumers will buy more from brands that they trust, highlighting the importance of consumer confidence.
How do leaders build that trust? In today’s information-saturated world, it’s all about developing the human face of the business. Consumers are picky over which businesses they engage with than in the past, so it’s crucial that startups portray themselves as real people, not faceless corporations.
As the driving force behind a business, nurturing and growing the profiles of the leadership team is essential. Consumers need to have faith that the business and the people within it are a good fit for them. When it comes to raising the profile of the leadership team, startups can learn from some of the world’s greatest CEOs. For example, successful entrepreneur and CEO of Virgin, Richard Branson, maintains a blog on the Virgin website where he shares his travel experiences and perspectives on pertinent industry issues. In doing so, consumers can access the human side of one of the world’s largest corporations, in turn driving trust and brand loyalty.
Focusing on the personal branding of founders and the wider team is an essential part of startup marketing – and best of all, it’s totally free! Every individual has a story to tell and expertise to share, so it’s essential to leverage that for the benefit of the business.
Content marketing is often a tactic favoured by the big players – those who have expansive marketing teams and budgets with in-house graphic designers, social media managers, and more. That being said, startups shouldn’t avoid content marketing, as it doesn’t always have to require significant resources. Content marketing can be done similarly to personal branding: by leveraging quality resources and expertise and positioning them in the right places.
For businesses in the early stage of their growth journey, content marketing is all about low-spend, high-value content. Do members of your team post regularly on LinkedIn? Has your CEO written an article for a blog or news outlet? Have you ever sent an email about your startup? All these assets, however small, are content. And all pieces of content have longevity.
Early-stage startups don’t have the time or resources to design beautiful graphics or employ a team of content writers – but they do have a wealth of experts at the helm. Startup marketers should be tapping into the existing expertise of their wider team, positioning them as specialists in their field, not reinventing the wheel.
Build a strategy around content types that can be created easily – ensure the team commits to fuelling a strong content pipeline through blog articles. Talk about the team, the people and the users who drive the business to create engagement around the human side of the business. Ask the leadership team to discuss their experience with entrepreneurship, touching on what they have learned and how these learnings can help others.
Content is not a single-use commodity. It has longevity and should be treated as a minefield of useful information for potential customers and other stakeholders. Content is a driving force of the overarching goal of developing trust among customers, ultimately making the business more attractive to potential customers whilst using as few resources as possible. This process both bolsters and is bolstered by existing personal branding efforts for the leadership team, as each piece of content can be reused multiple times for different platforms. Additionally, when sharing content on social media, marketers can try to make connections with thought leaders in their market, who can eventually help maximise the brand.
During the early stages of LastBasic, our marketing budget was incredibly small. We had to make difficult decisions on what strategies would provide the best return on our investment, and work alongside free approaches.
It was 2018, and even in the pre-pandemic world, we saw the tangible benefit of social media. We had organic presences on a wide range of platforms, but like many other startups, at that time we lacked the resources to invest in formalised social media management. So, we needed to tap into the benefits of social media in a different way – through advertising.
Facebook has around 2.93 billion active users across the globe, which is an astronomical feat. This wide range absolutely fit the bill for what we were trying to do at this time – attract a range of inventors and experts to our hardware product development platform from a variety of different regions and countries. For a relatively low price, investing in PPC (Pay Per Click) advertising on Facebook and other social media platform allows for highly targeted advertising, thus allowing startups to speak to their precise desired audience.
After some time, we reviewed our PPC strategy and found that Facebook was no longer achieving the results we desired. Consequently, we moved our investment to Google Ads, which provided quality results. It’s important that startup marketers review the range of PPC channels, testing accordingly to assess which serves their business best and brings the highest ROI. If the business hasn’t achieved organic positioning yet, online advertising is a cheap and easy method for startups to drive interest in their brand.
Once startups have attracted interested stakeholders to their website, it’s about keeping people engaged for as long as possible. Personal branding and content marketing are key aspects of stakeholder retention, with email marketing sitting perfectly alongside these strategies.
Some sources claim that email marketing has a ROI of 400% or more. Even at the most conservative estimates, email marketing is certainly a strong approach for engaging prospects, simply because almost everyone has an email address in today’s digital-first world. The cost efficiency of this approach is crucial for startups with limited budgets, as leaders should be able to see a significant return on any resources invested.
Building an effective email marketing strategy involves curating a good list of prospects. Email marketing is generally free, but it takes time to build out a target list. Including an ‘opt-in’ on all forms and a ‘subscribe’ button in the team’s email signatures can help to increase this base. Once the audience is signed up and engaged, startups must deliver regular and engaging content that adds value. Evidently, this can cause an extra strain on resources eventually, but in the early days leaders must remember to re-use existing assets, ensuring that all content goes the distance.
Email marketing campaigns aim first and foremost to deliver relevant content to prospects, but there’s certainly more to be gained with this strategy. Building out a list of customers and regularly communicating with them allows a business to acquire a great deal of information on these customers’ habits. Information such as open rate and location allows marketers to further target sections of the overall customer base with specific information, ultimately increasing the likelihood of engagement. Leveraging free CRM tools can help marketers keep track of these different qualities and ultimately deliver more relevant campaigns later down the line, crucially generating leads.
Marketing for a startup is a completely different ball game to marketing for a larger organisation. It’s likely that budgets will be tight, and without a fully fleshed-out marketing department, a range of team members will often need to be persuaded to join marketing efforts. Yet simultaneously, marketing for a startup is incredibly exciting. There is often more freedom to test out new approaches and get creative, without the boundaries of past efforts to restrain marketers.
Relying upon low-cost, high-return approaches is crucial for startups looking to grow. Marketing is no different, and certainly should not be overlooked, due to its high value in driving stakeholder engagement. In today’s digital world, anyone can become an entrepreneur – all it takes is a little dedication and creative flair.
]]>Promotions are the attractive offers that businesses offer to their customers only for a limited time. During this limited period the company has to tie some goals and targets to its efforts. A business cannot run a promotion without setting targets. Even if a promotion is launched without a particular aim, the businesspersons will never know how successful the promotion is. It has to be mentioned here that businesses have to repeat their promotions and they can only do so when they know what promotions were most productive for them.
The most important purpose that a promotion serves is that it sets a business apart from its competitors. No business will ever need to run any promotions if there wasn’t any competition. You have to stay ahead of your competitors in order for customers to keep doing business with you. If there is a company that sells similar products or services to yours, you can only make customers buy from you if you have a special promotion going on. Of course, it is also equally important to spread the word about promotion to the people by using several advertising and marketing methods.
Businesses often have to bundle their products together in order to run a promotion. What they usually do is that they include a less popular item with a very popular item. This not only helps them sell their popular item more but also allows them to cross sell an item that customers have not given much attention to. If the bundled product is liked by customers, the business will then have 2 popular products. The sales will increase as a result and with a successful promotion like this the business will get more return on its investment.
Promotions also allow you to make use of your available data and create more useful data from it. As you continue to do business, you collect information of thousands and millions of customers. By using the right database software you can know the trends, patterns and inclinations of your customers. By using this data you can launch targeted promotions. By further collecting data of the promotion you can know your customers better. When you know them better, you can launch more successful promotions. In addition to that, when there is something available only for a limited time, customers like to talk about it.
When they talk about your promotion they become your marketing agents. They spread the word of mouth, and this results in more customers becoming interested in doing business with you. Branding is all about making your customers remember you. When they remember you they remember to do business with you. By launching promotions frequently you become a memory for the customer. Whenever a customer feels like buying some new stuff he/she will think of checking you out to see if there is a promotion going on.
The biggest benefit of promoting today is that you make use of various online platforms for marketing your promotion. You have blogs, social networking websites, video hosting websites etc. where you can spread the news about your promotion. This makes you visible on the internet the way you should be visible to your target market. By being visible on the internet you are already creating a very strong image of your business in the minds of the customers.
How You Should Launch A Promotion
The most important thing you need in order to launch a successful promotion is data. The more data you have the more you can be sure that your promotion will go in the right direction. First, you need to decide why you want to promote and what it is that you want to promote. Are you looking to promote an idea, a new product or a campaign? After you have decided the thing you want to promote you have to know your target audience and the platforms where your target audience can be best targeted. For example, you won’t want to think of promoting something for teenaged target audience and choose newspaper as the primary mode of marketing.
Now, you have to decide how and in what shape you will promote your stuff. When it comes to products you can simply reduce the prices of the products, include another complimentary item with the product, offer an additional unit of the product that the customer is buying, introduce discount coupons through websites like Coupofy, etc. While deciding the method of promotion you have to decide a budget for your promotion. Make sure you manage your promotion within the budget you have set because only then you will be able to know whether your promotion was successful or not. Your budget can also give you a good idea on what mode of promotion would be best for you.
The next most important step is to work with teams. You have to create teams for every step of the promotion. First, you have to create a team that will do the evaluation and find out how much the cost would be and how much revenue must be generated from the promotion. Next, you will have to create a team that will promote your stuff and will be at the forefront to face the customers. Another important part of your strategy is to make sure that there is a starting and ending date for it. Last but not least, let the latest tools and softwares help you monitor and keep record of your promotional campaign so you can decide which promotions to repeat and which not to.
]]>If you are looking to build a new startup website or make your current site more effective, here are 10 key steps to getting started and helping your small business website compete effectively in the online marketplace.
Your domain name, also known as your website address, is often the entry point to your site. It is important that it makes a good impression for usability purposes, as well as for search engine optimization (SEO).
Here are some tips for coming up with an optimal domain name:
A website host (or sometimes referred to as a website hosting provider) is a company that offers the technology and services necessary for a website to be viewed on the internet. You connect your domain name to your hosting provider so that when users visit your website address, they are shown your website that you store on your hosting account.
Hosting services can cost anywhere between $2 to $100+ per month, depending on the kind of technology and support you choose. You can usually get a discount if you purchase a yearly plan as opposed to a monthly plan.
Here are some guidelines for choosing a good website hosting plan:
Some popular website hosting companies include:
It is important to let people know who you are and what you do right away so they don’t feel confused when they visit your small business website. Make sure your main homepage banner (also known as a “hero image”) and subsequent banners are visual representations of your services, and also that you have an introductory text blurb near the top of the page that describes who you are and what you do.
Additionally, make sure both your main and footer navigation menus have “About Us” page links easily accessible so people can click them and read more about your business in depth.
A content management system (CMS) is a software program or application that is used to create and manage digital content. A good CMS will help you maintain your site, and you don’t need much technical knowledge to use it. You should choose a CMS that is designed for your unique needs; different systems are used for different reasons, such as user-friendliness, extensibility, and budget.
The following are some popular systems with descriptions of their strengths and weaknesses.
WordPress: WordPress is the world’s most popular CMS. It has a vast, active support community and many useful plugins to extend the functionality of your site. (And if you cannot find a plugin that does what you want, it is easy to find a WordPress developer who can make one for you!) WordPress is also free and relatively simple to install. Most website developers are familiar with it so it is not hard to find an individual or agency that can work on your site. I normally recommend that small businesses use WordPress to create their websites, due to its flexibility and extensibility.
It must be noted, however, that WordPress’s biggest weakness is security—because it is so popular, hackers target it the most. Your WordPress site needs to be regularly maintained and secured so it is not hacked. Also, it is difficult to secure every single third-party plugin, so keeping your WordPress site secure must be an ongoing commitment through various best practices (checking to see if your plugins have been updated within the past few months, making sure it is a plugin provided in the official WordPress repository, deleting unused plugins immediately, etc.).
Drupal: Drupal is another popular CMS. It offers many of the same benefits as WordPress, including flexibility, ease of use, and a large support community. Notably it is a more secure CMS than WordPress (safer from malicious activity); however, it doesn’t have as many plugin or theme options, which makes it less extensible. For many years, the White House website (Whitehouse.gov) was run with Drupal, but has since switched to WordPress, which it still uses today.
Joomla!: Another popular CMS is Joomla! Out of the box, it has better SEO, security, and multilingual capabilities than WordPress; however, with the help of a few plugins, WordPress surpasses Joomla!’s capabilities.
Squarespace: Squarespace is a service you subscribe to monthly or annually that makes website and blog creation an easy “drag and drop” experience. It includes website design, development, software maintenance, metrics, domain name with annual purchase, SSL security, 24/7 support, and unlimited bandwidth and storage hosting all in one package. It is especially suitable for creatives and provides you with top-notch design templates. If you are on a tight budget, need a simple and beautiful site, but cannot afford a website designer, this is a great service for you.
There is a much smaller learning curve with Squarespace than with WordPress, Drupal, and Joomla!, but it doesn’t have nearly as many extensibility options. However, if you have little or no technical knowledge and are looking for a quick and easy way to put up a website, Squarespace is an excellent option for you.
Wix: Wix is very similar to Squarespace, but it is a bit more user-friendly. It offers a monthly, but not annual, subscription and includes similar features. Wix is also a drag-and-drop builder—you can freely drag and drop elements anywhere on the page; in comparison, Squarespace is more structured in where you can drag and drop on the page. The learning curve to using Wix is even shorter than Squarespace, so if you need to publish a site quickly, this may be your best option.
Wix has a lot more templates than Squarespace to choose from, but once you choose a template, you must stick with it or be forced to completely rebuild your site. With Squarespace, you can change your template anytime without having to rebuild the entire site.
If you plan on selling goods and/or services through your website, you will need the right technology to do so. (If you do not currently sell anything, you may want to consider doing so since e-commerce could potentially increase your profits.) If you decide to allow users to financially transact with you online, you will need to choose the right platform for your business model.
Here are some popular small business e-commerce platforms:
WooCommerce: WooCommerce is one of the world’s most popular e-commerce platforms—it can turn your WordPress website into an online store. Like WordPress, there are many plugins available, and it attaches to WordPress, which makes it extremely flexible. There are many free and premium themes pre-built for WooCommerce. (As a rule, it is better to use a premium theme from a reputable developer because it will offer better security and support.) If you are not tech-savvy, you will most likely need a WordPress developer to help you set it up and use it. WooCommerce also offers a very high amount of capabilities and scalability that your small business might need.
Shopify: Shopify is a cloud based e-commerce platform that allows you to create and customize an online store, and to manage products, inventory, payments, and shipping. It is not a WordPress extension like WooCommerce—it is a standalone platform that is hosted on the Shopify server—so if you have a main website, your e-commerce site would technically be separate from that. You can link to your Shopify account from your regular website built with WordPress, Drupal, Wix, etc., unless your main website has a Shopify integration plugin.
Features include unlimited products, unlimited bandwidth, fraud analysis, discount codes, reports, and much more. The key benefits of Shopify are that you do not need a developer to set up a store, and everything on the backend is already set up for you when you subscribe. The downside is you do not have as much control or flexibility over your store as you would with WooCommerce.
Shopify Plus: Shopify Plus is Shopify, but with a higher level of customization, more staff accounts, and international e-commerce options. It also has a higher level of support. However, all of this obviously comes with a higher subscription cost, and it still does not have all the flexibility and customization abilities as WooCommerce.
Business Squarespace: Squarespace has an e-commerce subscription option, so if you chose Squarespace to build your site and have very simple e-commerce needs, you can choose this route. Business Squarespace charges a transaction fee, but this can be bypassed by upgrading your subscription to a basic online store. It includes a free domain, SSL security, SEO, abandoned cart recovery, discounts, real-time carrier shipping, and more. However, it has been noted it is not as user-friendly as Shopify. And like Shopify, it is simply not as flexible as WooCommerce.
Wix: Wix actually has a Shopify extension which is very user friendly. You will have to upgrade your Wix account and subscribe to Shopify in order to use it.
GoDaddy Online Store: GoDaddy has a relatively new e-commerce standalone subscription platform that is relatively easy to set up and use. Very little technical knowledge is required to launch your shop with GoDaddy Online Store. The templates are simple and clean, and somewhat customizable. Features include marketing and SEO tools, social media integration, appointment booking, SSL security, rapid page loading, and more.
Make sure your small business website interface leaves a positive impression that drives results. You can do so by implementing the following suggestions:
SEO is a set of practices you apply to your website to ensure search engines index and rank your website appropriately and then show it to search engine users. Once your website is “crawled” by search engines, it competes with websites that have similar content. The better your website design and content is, the higher your site will show up on search engine result pages.
SEO mainly includes the following practices:
SEO is an extremely important ongoing process that can mean the difference between showing up on the first page of search engine results pages (resulting in large amounts of free traffic to your website) or page 300 (resulting in no traffic).
Both content quantity and freshness are important to search engines, so it’s important that you create a plan to publish quality articles and/or blog posts on your site and on external sites that link to your site. If you want to rank highly in search engine results and encourage people to return to your site again and again, you will have to update your website with new and relevant content as frequently as possible.
In addition to static page content and articles, a great form of content to post on your website is testimonials. Asking for testimonials from your customers and then publishing them on your website is a great way to post fresh, high-quality content on your site that makes your small business more attractive.
Make sure your content uses an appropriate, on-brand tone that people will enjoy reading.
Make use of vital data to help you analyze traffic and site performance by installing Google Analytics and Google Search Console (both preferably via Google Tag Manager), and Bing Webmaster Tools. These tools can be used to track the following types of information:
A website shouldn’t be created and then allowed to grow stale. In order to have a successful website that ranks well in search engines and doesn’t get hacked, you need to make sure it is properly maintained.
Here are some tips to create a small business website maintenance plan:
As you can tell after reading this article, creating a great small business website may not be as simple as you first thought. However, if you follow the steps set forth in this article, your small business will have an excellent chance at succeeding in the online marketplace.
]]>In this series on Twenty Tips for Startup Success, we’ll be going into greater detail on the following topics:
You can have an invention or product that is creative and exciting and imaginative, but the most important measure of success is meeting a real need for the market that you’re trying to serve. The best companies are the ones that meet consumers’ needs and are able to adapt as those needs change.
Being a leader for your team starts with the idea and direction that is foundational to your business, but success ultimately depends on drive. You set the example for the rest of the company with your attitude, work ethic, and determination.
The vision for your ultimate goal may be singularly yours, but you’ll need help to get there. In order to achieve your ultimate goals for your business, you’ll need to surround yourself with people who understand your vision and fit into the culture and mindset of your company.
As you start to develop your business, you’ll want to have an advisory board in place to help offer advice and guidance to help you navigate the entrepreneurial labyrinth. Don’t be afraid to ask people to mentor you; often they are glad to be asked and eager to help guide others as they were once guided by their own mentors.
In the absence of direct guidance, it is the cultural ethos of a company that wins out in informing the decisions and work of those at your company. Your company culture should say not only who you are but who you aim to be.
Paperwork might not seem important during the early days of your startup, but operating a business without a business entity in place can put your personal assets at risk. Unless you’re willing to risk everything you have to make your business succeed, talk to a professional and set up a business entity to protect you and your family from potential ruin.
Once again, paperwork might seem boring and unnecessary when you’re working out of your garage, but they can make or break your business. Every agreement you have should be formalized with a signed contract to protect both parties from future legal fights, which are costly in terms of both time and money.
It’s a good habit to have to keep your ideas as close to the vest as possible and not to tell them to everyone who’ll listen, but ultimately you’ll have to talk about them if you hope to fundraise and grow your business. When talking about your ideas in public, it’s smart to have everyone sign non-disclosure agreements (NDAs) to protect your sensitive information.
From the outset of your business, your intellectual property (IP) is the most valuable asset you have. Identifying and protecting all the IP you create is crucial to the long term success and viability of your venture.
Whatever your ultimate goal is for your business, have that in mind from the start and work towards that end. Things change and shift as time goes on and the unexpected arises, but having that goal in mind will help you plan and make decisions towards achieving it.
Being the only company is a particular market can be daunting, especially as you try to generate attention for the problem you’re looking to solve. But don’t let competition entering the space put you off; competition is proof that you’re onto something, and can force you to focus and improve.
Laying out the critical path for your business can help you to go beyond a plan into goals you can act on, and will help avoid any unnecessary diversions and distractions. It may be hard work, but isn’t the success of your business worth it?
Part of the success of your business depends upon your reputation as an expert in the space that you’re working; after all, no one wants to buy something from someone who doesn’t know what they’re talking about. Writing and speaking about your particular area of expertise is a great way to get your name out there and establish your bona fides.
Content is king in this age of the internet, and you want to get in on that with blogs, videos, podcasts, and any other content that allows you to get your name and ideas in front of potential customers. Clicks, views and engagement are the currency of the realm, and the surest way to establish yourself as thought leaders on a subject.
Success is predicated on who you know as much as what you do. But the key to good relationships is not making them one-sided; give as much as you get with helping others where you can, and you’ll develop a strong network of people you can rely on.
Rejecting the status quo or conventional wisdom may seem scary, but it might also be necessary to get where you want to go with your business. Don’t be afraid to go against the grain, and to say no when necessary.
Early enthusiasm about your new business is great, but it is best tempered with some caution and prudence. It’s better to take a cautious approach to getting things right before rolling them out than to have your first impression to the world be one with a buggy website or a product that isn’t quite ready for market.
However you choose to raise money for your business, know that it can be a long and challenging process. It can be tempting to take the first offer that comes your way, but be sure that the offer is the right one, and that the money comes with the right connections that can help to further your business.
All of the work you put into your business is ultimately pointless if you’re miserable every day on the job. Moreover, it makes for a difficult sales pitch to potential employees if the workplace environment is best described as “Dickensian.” It’s alright to have fun on the job so long as the work is getting done; it’s certainly preferable to the notion of toiling away in a windowless room. #onwards
Be sure to check back later for the first part of the series, a deeper dive into solving a real problem.
]]>From firsthand experience, I can assure you that this feeling is totally normal. However, once you commit yourself to a goal and start taking steps towards it, what once seemed unattainable moves closer and closer until it is within your grasp.
It is important to go into the startup process with your eyes open about just how difficult it can be to achieve success. Many startups fail; recent data from the Bureau of Labor Statistics shows about 20% of these failures occur within a year of launching, and 65% fail within 10 years.
The purpose of sharing this statistic is not to dissuade you from launching an idea but rather to emphasize the importance of taking the right fundamental steps when establishing your venture. Digging a little deeper into statistics, the following are some of the most common causes of startup failure.
Reviewing this list, it should be clear that many of the things that determine success or failure are within your control. For this reason, it is important to hold yourself and your team to a high standard in terms of preparation and management.
While this seems self-evident, I have heard anecdotal accounts of project leaders showing up to a pitch meeting without any business plan (let alone a well-thought-out one!). Venture capital firms can receive upwards of 1,000 proposals a year, meaning that they have to quickly filter out unprepared teams. In many cases, not having a business plan can be a one-way ticket to rejection.
VCs are not charities—ultimately, they want their investments to provide returns. If you can’t confidently explain how you will navigate your project from the initial stages to a place of success, it is hard for investors to see the potential. To learn more about the importance of a solid business plan, I would encourage you to check out the numerous articles available on this topic.
In the startup world (especially in the blockchain industry), I’ve noticed many projects seek funding before developing any sort of working product. While this can work, one of the easiest ways to separate yourself from competing proposals is to create an MVP.
For example, when seeking early-stage investors, we were able to create an early version of our product that provided a clear vision of how the crowdfunding platform would work. While the prototype was only a rudimentary version of our completed vision, it went a long way toward boosting the success rate in meetings.
Favorable market conditions over the last decade have expanded the number of VC groups. Due to this, it is important for founders to do their own research and learn as much as they can about potential investment partners. I would recommend compiling a list and then using guiding questions like these to aid your search.
• What is the reputation of the firm? Do they have a track record of success?
• What types of projects does the firm tend to invest in? Some VCs focus on particular sectors (NFTs, gaming, etc.).
• Do they show a preference between investing smaller amounts into speculative startups or do they tend to show up in the biggest “high raise” deals?
• Have they invested in any projects that you have a direct or indirect connection with?
• Have they invested in any projects you would consider competitors?
Asking questions like these can help to identify which firms may be a strong fit for your particular idea. While it is generally advisable to pitch your opportunity as widely as possible, identifying prime targets and spending a little more time preparing for them can really pay off. If you have done your homework, it will often shine through during meetings and may be the difference between a yes and no.
A thorough examination of the competition should be a key part of the planning stage for any new project. Similar to the process of evaluating VCs, I would go about this process by making a list of both established and newer projects in the same market segment and answering some key questions about each.
• What does the performance of this competitor tell you about market demand?
• What are the strengths of this competitor?
• What competitive advantages might this competitor have over you?
• What are the weaknesses of this particular competitor? Can you exploit these weaknesses by providing a superior product or user experience?
Going through the above process will achieve several important things. First, it will give you a well-rounded background knowledge of your market segment. Second, it will help you identify areas where you will need to expend additional resources in order to negate the advantages of your competitors. Third, and most importantly, it will result in your ability to communicate the shortcomings of your competitors and explain how you can acquire market share by improving the products and services that are currently available.
Luck is what happens when preparation meets opportunity.” This famous quote that’s often credited to the Roman philosopher Seneca really encapsulates the essence of a successful raise. The key takeaway from this article is that a project founder should do everything within their power to prepare and plan for success. I hope this article can be the first step toward putting your idea into action and getting the funding you need.
]]>So, we put together a list of the most small business must-haves, which many unknowingly lack, to help you put your business on good footing and on the map. With these simple, yet commonly overlooked tips and tools you can improve your process, increase efficiency and turn a higher profit.
Here are 10 small business must-haves in 2022:
Every business has an online presence, including listings in business directories whether they set them up or not. Oftentimes, if your business has been around for a bit, someone might have already set up accounts on your behalf, from Google Business Profile to Yelp and any other relevant directories to your business and its industry. While it might sound like a good thing that the work has been done for you, that doesn’t mean there isn’t anything left for you to do.
To start, check the leading online directories, such as Google Business Profile, to see if there is a live listing for your business. If so, claim the listing so that you obtain control of the listing. This lets you verify the listing and ensure that it provides accurate information as well as enables you to reply to reviews.
If your business doesn’t yet have a listing, create your listing—your business can take advantage of the free marketing it provides so that you can get found online and get more customers.
To search for your business, claim an existing listing or create a new one for free, visit Google.
Over 70% of businesses in the U.S. are registered as sole proprietorships. While there’s nothing inherently wrong with this type of business formation, that doesn’t necessarily mean that it’s the right legal formation for your small business. Many small businesses start as a sole proprietorship only to later outgrow it. And yet many small business owners keep their business structured as a sole proprietorship—complete with the personal liability that comes along with it.
Generally, small businesses are advised to register as a limited liability corporation, or LLC, in order to help protect their personal assets and separate their business interests. To get started, learn how to set up an LLC.
Alternatively, if you’re interested in registering as an LLC but not sure how to go about it, there are a number of LLC formation services available. To find one that’s right for you, check out the best LLC services.
It’s one thing to have a website and it’s another to have a well-designed website that looks professional, upholds your brand and gives your visitors what it is they came to your site for. For example, those checking out a restaurant’s website are likely interested in seeing a menu, checking hours and making reservations. Whereas visitors to a spa might want to see a list of services and book an appointment.
The good news is that it’s easier—and more affordable—than ever to build your own website that looks great and functions properly without any web design experience or coding knowledge. With the help of an all-in-one site builder, such as Squarespace or Wix, just about anyone can build a professional business website in hours and for around $15 per month. Learn more about the best website builders for small businesses.
It’s not uncommon to see businesses that use personal email for business use. And no, using your business name at gmail.com doesn’t count as a business email address. Instead, be sure to use an address that uses your own business’s domain name, such as name@business.com. Not only does it appear far more professional, but it also lends to your credibility and reputation.
Taking it a step further, be sure to use a generic email inbox on your website. For example, use contact@business.com for your contact page or sales@business.com for sales assistance. Again, it lends to your credibility, and it also helps your inboxes stay organized while reducing the number of emails you receive to your direct inbox. Set yours up in minutes by learning how to create a business email address.
Not to be confused with a personal number, many startups and small businesses don’t actually have a separate business number. Many also fail to have different phone lines for different uses, and those that do, often pay through the nose for it. Instead of using your personal number, which inherently will become plastered across the internet, making it greatly susceptible to spam, use a virtual phone number. This way, you can still use your personal phone, but with a separate phone number so that your personal number isn’t publicly available to the world.
If you are paying for a business phone and want to save money, consider switching to a voice-over-internet-protocol (VoIP) system, which allows you to make calls with your phone or computer using the internet. Not only are the leading providers very affordable, but they also offer other money-saving features such as auto attendants and 24/7 virtual receptionists and call centers. Get more information about the best VoIP services.
You don’t have to be the trendiest new bar to be a good candidate for a location tag on social media. If your business has a physical location, it’s worth a couple of minutes of your time to create a location tag with Facebook so that people can tag your business as the location on Facebook and Instagram. This helps give your business a good deal of exposure—and for free.
So, whether you run an auto detailing business or a brewery, if you have customers visiting your location, you should set up a location tag. Follow along to learn how to create a location on social media.
Don’t have a physical location? Consider swapping your home address with a virtual address. You can buy a virtual business address for around $10 per month from providers such as iPostal1 or around $100 per month for a virtual office from Regus to help safeguard your personal contact information and to create a more professional appearance.
Customer relationship management (CRM) software may sound fancy, if not expensive. But if your business deals with clients and leads, then it might cost you not to have a CRM system. This is because, in reality, a CRM simply helps you organize your contacts, clients or customers and foster your leads. It’s what enables, say, a landscaping company to keep track of customers, with a log of services rendered, incoming requests, invoices due and bills paid.
Not only are many of the best customer relationship management tools easy to use, but many are available for free. So, not only can a CRM help you operate your business more efficiently, saving you time, but it also doesn’t have to cost you anything to use.
Save time and get paid faster without a CRM by using a billing and invoicing software solution. There are many on the market that enable you to easily create quotes, send invoices and get paid without having to mail a bill or wait for a check. This is particularly helpful for service-based businesses, such as a property management business or a tutoring business.
What’s more, many are available for free, so you only pay for the credit card processing fees. Learn more about what you can do with the best free invoicing software.
Take billing and invoicing a step further with a mobile credit card reader. This is what enables you to accept payments on the go and as you do a job. For example, a towing business, a mobile dog grooming business or a bakery interested in selling at its local farmer’s market would be well suited to use a mobile card reader.
As straightforward as it sounds, mobile card readers are game-changers for many small businesses as they open up more opportunities to sell and save you time by eliminating the need to invoice customers. Instead, collect payment as services are rendered. For any unpaid invoices, you can set it up so that it automatically sends payment reminders. To get yours, check out the best mobile credit card readers.
Whether it’s starting your small business or making strategic investments to boost your business, you need capital for your company to thrive. Fortunately, plenty of financial tools are available to help you get the money you need. One particularly easy and popular tool is using a business credit card. Most of these cards offer rewards programs that work in a similar way to the travel and cash points you may use for your personal cards. In this case, you can use your reward points and invest them into things your business needs.
You can also take advantage of a small business loan from a reputable lender. These loans can offer you thousands of dollars quickly with fair terms of repayment. While these typically require a strong credit score, they can be a lifesaver in raising funds to cover emergencies, renovations and other upgrades.
Many of these small business must-haves do require a small upfront investment of either time or money. However, keep in mind that setting your business up with the right foundation and tools is an investment that will save you time and money down the road. Not only can these tools and tips make your life easier, they can also lend to increased productivity, and with that, higher revenue–something we can all get behind.
My company was started over a decade ago. I’ve been working with diverse companies, including startups, that have grown significantly over time. When you start to analyze the behaviors of new businesses that have become successful, you see common patterns that made their growth possible.
I decided to sum up these points below:
Careful planning, budgeting and resource management are vital for startups. Entrepreneurs who clearly understand what resources they have available make the best use of those resources.
In my experience, startup owners also become successful if they aren’t afraid to check hypotheses, if they understand the importance of promotion, and if they aren’t hesitant to invest in marketing campaigns and lead-generation activities. A successful startup owner often has the ability to become a charismatic figure — someone who is idea-driven and enthusiastic about their business concept, even if it sounds complicated.
Regarding the startup’s staff, I’ve found that promising projects always start with a small, tight-knit team composed of people who are more passionate about the idea than financial benefit at the early stages. At first, the team tends to cover all tasks themselves, but as the company grows and key processes are established, they begin delegating those tasks to save money and reallot resources.
It’s also important to note that running a startup is not without risks. Depending on where you look, it’s often said that 75% to 90% of all startups fail. In most cases, however, I’ve found that the failure is evident long before the startup launches its first product. Careful analysis can show all the strengths and weaknesses of an idea, but sometimes, entrepreneurs overlook this important step.
The ability to stop when an idea is not worth the time is a valuable trait for a startup owner. Find the courage to move on when an idea that seems brilliant isn’t the one. Entrepreneurs can understand it early, but some don’t want to terminate the implementation.
So, how can you mitigate the risks mentioned above and achieve success in your startup? I have a few suggestions. Keep in mind that this isn’t a definitive list of do’s and don’ts, but it might be helpful for entrepreneurs who are at the beginning of their business journey and are looking for some tips:
1. Aim to become an innovator. To help set your company apart, look for niches in which you can offer improvements, but make sure your solution is easing customers’ lives. For example, there are solutions ranging from notetaking to transcription available to accompany Zoom. Although those companies didn’t create Zoom, they saw a need among users and helped solve it.
2. Know your competitors. Direct or indirect, there are always competitors. Successful startups understand with whom they are competing.
3. Don’t rely on serendipity. People like success stories about sudden enlightenment, an unexpected twist that has changed the course of events and led to success. Creating a business, however, is not about luck or intuition. If you have an idea worth attention, it’s important to be proactive and find resources and opportunities to present it and draw investments.
4. Don’t complicate the idea. Startups tend to pay too much attention to functionality. Some aim for perfection before they even define a target user segment. But I believe the simpler your product is, the better it is for a start. Present the core idea you intend to sell, and add perks along the way.
5. Know the processes. A manager should clearly understand the business process. If you know how things work, you will be able to estimate idea feasibility, define risk areas and cover the majority of them (since eliminating risks is just impossible).
6. Share the responsibilities. A financial expert, lawyer, tech expert and manager make a good team, but these are four different people. If you are good at something, don’t try to undertake other responsibilities as well. That’s where the problems begin. Someone who tries to do it all could fail to notice critical elements of running a business, such as checking patents to ensure the product doesn’t already exist, drafting up properly written user agreements, etc.
7. Stay calm. Running a startup can be stressful, but it’s important to keep a clear head. Don’t let yourself become overwhelmed by the small stuff, and ensure you remain composed in front of your team.
Handling The Unexpected
The year 2020 has shown me that there are many game-changing circumstances we might not be ready to handle. However, startups are always working with probabilities: At the beginning of the journey, you know nothing; you only have an idea. Most likely, it will work. Most likely, you’ll find customers. Most likely, they’ll pay for the product.
The chances are rarely as obscure as 50/50. And if the odds of success are below 50%, I believe it’s better to look for more ideas. It might be the thrill of the race or a desire to prove their point that makes people go on when the chances suggest doing the opposite. Don’t forget that these things alone aren’t enough to start something big. That way, when you do land on your next great idea, you can implement the seven tips above and lay the groundwork for a successful startup.
]]>If you’re considering how to start a small business at home, chances are you already have an idea of the type of business you plan to launch. If not, identifying your concept should be your first step. If you do have a business idea, you will want to fine-tune your idea before launching your home business.
You have valuable insights, knowledge and experience that can shape your business idea. Consider your expertise as you further develop your idea. You can also use this information in your business plan, which is explained more below.
As you hone your business idea, consider what problem you plan to solve. If you are in the early stages of business idea development, consider a problem you can solve and develop a business idea from there.
Research your competitors. Where is there overlap in business offerings? How can you differentiate yourself in these areas? And are there any areas in which the competition is lacking, or holes in the products or services they provide? If so, this might be a prime opportunity for your business.
A business plan is critical for two reasons: it will help you articulate your business goals and objectives, and it can be used to pitch to lenders and investors to obtain funding for your new business.
Business plans can vary in the amount of detail provided and length of the plan, but in general, a business plan will include:
You will need to determine the legal structure of your business, such as sole proprietorship, partnership, LLC or corporation—each of which has pros and cons.
Your business name is one of the most fun parts of the business formation process. It can also be one of the most overwhelming. You want a name that lets customers, clients, competitors and others in the marketplace know about who you are and what you do, and you also want the name to be memorable and creative so that it packs a punch.
The business name needs to be available in the state where you will do business. Our business name generator can relieve the burden and eliminate some of the guesswork from the process by generating business name ideas that are available in your state.
After you’ve decided on a business name, you need to register the business name in the state in which you will do business. The specific requirements for registering your business name will vary depending on your business structure (i.e., whether it’s a corporation, partnership, LLC, etc.) and the location in which your business will be registered. For most small businesses, registering your business name is done by submitting a form to your state and/or local government.
Unless your business is a sole proprietorship, you will need to register your business with the state agency, often the Secretary of State, in the state where you will conduct business. You will be considered to be “conducting business activities” based on the following:
If you plan to do sales in other states outside of where your home business is located, you may also need to obtain foreign qualification in other states in which you do business. To obtain foreign qualification, most states require that a business file a Certificate of Authority with that state and a Certificate of Good Standing from the state of formation.
After you’ve registered your business, you’ll need to get a business license. Depending on your business’s industry and the specific requirements of your state, county and municipality, you may need licenses for the following:
Don’t assume that your business doesn’t need a license because you are a consultant or a freelancer. It is best to review relevant codes and regulations. When in doubt, talk to a business lawyer in your area.
An Employer Identification Number (EIN) is needed for businesses that have employees or have excise tax reporting obligations. The process of obtaining an EIN is quick and straightforward. To obtain an EIN, you’ll need to file a Form SS-4, which you can do online. If you are a sole proprietor without employees, you can use your Social Security number for reporting business income.
Your financial needs will vary significantly depending on the type of business you plan to launch. You will want to create a proposed budget, as well as financial projections, to ensure that you are financially prepared and to pitch to potential investors and lenders.
Before you launch your business, you’ll want to confirm that there will be sufficient revenue to be sustainable. You’ll also want to estimate how long it will take to generate a profit and how much the anticipated profits will be. For instance, a service-based consultancy business will likely have very little startup costs, but a product-based business, such as a catering business that you run from your home, may have more upfront costs.
Financial projections are estimations of how much money the business will earn and spend over two to three years. If you plan to obtain a loan or other financing, potential lenders and investors will likely want to see your financial projections so they have a clear understanding of when they will see a return on their investment in your business. You can create your own financial projections or find a template to use, such as those available in Microsoft Excel.
Getting your finances in order also includes considering how you will process and record your sales, expenses, income and revenues once the business is operational. There are several third-party providers who can assist with merchant account services, and we’ve ranked the best options for small businesses here.
Opening a business bank account helps keep personal and business income and expenses separate. Using a business bank account can make it easier to track and record business income and expenses for accounting and tax purposes. You can open a business banking account at your local branch. You may also want to consider obtaining a business credit card as well. Get the step-by-step instructions on how to open a business bank account.
If you are a sole proprietor or partnership, you may want to consider obtaining business insurance to cover business-related liabilities since there is no liability protection with these business structures. Even if you are formed as an LLC or corporation, which offers personal liability protection, you may want to consider obtaining business insurance depending on the nature of your business.
Before launching your home business, you may want to create a marketing and sales plan so that you are poised for success. Consider how clients and customers will find out about you. Take a look at who in your network may be a potential client/customer or can help spread the word of your business. And evaluate whether there is room in your budget for advertising, marketing materials or sales training.
Launching a business is exciting, but it takes a lot of hard work and planning—regardless of whether you are starting a business in your home or not. With careful planning, attention to detail, evaluation and research, you will be well situated to not just launch a business, but to maintain a successful business as well.