Social Media May Drive More Traffic Than Search Engines

The owner of a typical brick and mortar storefront depends a lot on foot traffic to insure that their business is a success. That's why location is so vital when picking out a place of business. For an e-commerce company, getting high visibility on search engines or access to a large source of traffic is just as equally important. Getting that traffic directly to a company's website is the goal of any online marketing campaign.

The prevailing wisdom has been that search engines will do the trick provided you can increase your ranking on those pages. However, it appears that social media networks are giving the search engines a run for their money in terms of providing them with organic traffic. You only have to look at the numbers to appreciate where most internet users are spending their time.

Where Are The Users?

A recently published report put out by Forrester Research has found that 50% of 18 to 23 year olds and 43% of 24 to 32 year olds list social networks as their go-to internet-discovery resource. In that arena, Facebook and Twitter are holding sway as the number one and two forms of discovery for nearly a third of all American users alone. That represents an 18% increase for "discovery-use" on those sites since 2010.

The good news for search engine sites is that 54% of American users regularly depend on those search results to find what they are looking for. The bad news is that number is dropping. It was 61% in 2010.

More Fun Social Media Facts

The vast majority of Fortune 500 Companies have a Facebook page and/or Twitter account, but that doesn't necessarily mean they are using those resources effectively. For a business start-up looking to get a foothold in customer traffic, social media could be a productive resource to invest in. 

Here are some more of the findings from the research report:

·         26% of internet users discovered company websites through branded emails. That's an 11-point increase from 2012.

·         18% of internet users proclaimed that paid search results got them to where they wanted to go. These would be all those click through ads on Facebook.

·         28% of all internet users find new websites by clicking through to links on sites they are visiting. 

How can you make that work for your company? A simple quid pro quo will do. If you link to a business ask them to link to you. Obviously, you're not going to find much traffic with a competitor, but landing an affiliate site would be ideal. Write a lot of guest posts and have the articles placed on industry websites.  

Does all of this mean you should give up on search engine optimization all together? Absolutely not. 

However, it is clear you should be dividing your online marketing strategy equally between SEO and social media.

You'll probably find that they work hand in hand.

How to Get Customer Referrals to Grow Your Business

Before heading out to see the latest Hollywood blockbuster do you check the reviews? There are certainly plenty of places to read other viewers opinions. The same can be said for any type of service company. On many levels, these "reviews" are actually referrals, at least the positive ones are! 

Businesses depend on customer referrals to keep the sales numbers flowing. How are you doing with collecting customer referrals? Is there room for improvement? Try embracing these insights to help gather customer referrals to grow your business.

Collect LinkedIn endorsements.

Your company should have a LinkedIn page up and running. If so then you'll be able to start collecting endorsements from other professionals who you're networking with. In the grand scheme of things these endorsements might not make or break your company but every little bit helps. A good way to generate endorsements is to give endorsements. Stay active on your page and you should be rewarded in kind.

Ask and you shall receive.

You know it never hurts to ask, right? That applies for so many things in life not the least of which is getting endorsements for your business. If you have some trusted clients who you've established a strong relationship with then reach out to them and ask for an endorsement. Make it easy on them by providing the link to where you want that endorsement to go. Your goal could be as simple as increasing your Facebook likes or getting a written testimonial you can post on your website. Be proactive on your hunt for endorsements and you'll be amazed at what can come rolling back to you.

Sift through the recommendations.

If you do your homework right and the recommendations start flowing your way you'll want to sift through them to make sure they are the right recommendations for your company. This ability to sift through the recommendations works best when you're in control like on your own web page or Facebook account. Just because someone says, "I like them" doesn't mean you have to use that recommendation especially if that is all you get. Without writing them yourself, the recommendations should be thoughtful and specific towards what your company is offering. The more details the better the recommendation.

Spread the word.

Securing a good recommendation is meaningless until you can put it work for you. Every new positive recommendation should be shared with your entire social media network. It should also be included in any email blast that you'll be sending out to new customers.

How To Attract the Clients You Want

Your customers are your company's lifeblood. Without them your business will go belly up. Just because you've got some loyal customers doesn't mean you can rest on your laurels and coast through your next bottom line review. You should always be on the lookout for ways to expand your customer or client base. Here's how to attract the clients you want:

Make customer service priority number one.

The goal is to make it easy for a client to do business with you. That is accomplished with a strident focus on customer service. You don't have to send out "thank you gift baskets" after ever order, but make sure every client has a dedicated representative from your company that they can reach out to. Solve problems fast and listen to what that client wants. By providing this kind of top-notch customer service your clients will have no problem recommending your company to their associates.

Focus on information.

To attract clients you need to provide them with valuable information, not a hard sales pitch. You already know what your current clients appreciate in terms of the services your company provides. Let that be the focus of your marketing. You're trying to build up trust and that can only happen when you can demonstrate that you are focused on a potential client's best interests. 

Put technology to work for you.

With all the communication technology at our disposal, there is no excuse for not staying in contact with a client. You can use SaaS services such as ZenDesk or salesforce.com to keep track of complaints and issues. Make the investment to setup a CRM system and it could go a long towards securing that client's business.

Encourage referrals.

Asking for referrals should be a part of your daily business plan. It might help to have incentives not only for your employees but for your current clients as well. A referral means you'll be getting the same kind of client you're already working with. No one is going to send you a "bad client."

Keep your staff motivated.

After all your hard work of attracting new clients, you don't want to lose them if your staff drops the ball. Make sure everyone is on the same page so that you're presenting a unified front to any prospective client. A happy staff means happy clients and that's going to be less stress for you all around.

The Power of Joint Marketing Partnerships

A business can't become a success on its own. Every company needs to develop partnerships with vendors and customers in order to generate profits. The potential for profits can be elevated even further with a joint venture partnership. Case in point, the Yonanas machine.

This was a simple gadget that turned overripe bananas into a frozen dessert. The company was humming along trying to break into the big leagues when they formed a joint partnership with Dole. That translated into 100 million bunches of bananas having stickers challenging consumers to "Turn me into a Yonana!" The machines flew off the shelf. Can you think of a joint partnership that would benefit your business? Think about these tips for achieving stronger marketing through a joint partnership.

Power Up Your Facebook Page

Billions of users log onto Facebook every day. Even if you capture just a fraction of those potential "likes" you'll be sitting pretty. Once you've established your Facebook page and have it bursting with fresh content, look for a joint partnership page that you can team up with. If you sell decorative wine corks then finding a wine distributor would be a natural fit. Not only can that cork company team up with a wine distributor, but also a gift basket company. What you'll want to do is reach out to that partner and set up a mutual deal where you're both promoting each other through Facebook updates. That's the power of social media joint partnerships.

Use Backlinks for Your Content

That same exchange of Facebook pages can occur with backlinks on your content pieces. Once again, you'll be working with a joint partner to create content that you can both benefit from. It would be like creating an continuous circle of traffic from your web site to your partner's web site. If you're both using effective SEO then it's going to be a win/win all around.

Share the Goods

As you already know, giving away free stuff is a wonderful way to generate traffic to your web business. However, you don't have to limit yourself to giving away freebies just on your site. You can also share incentives on your joint partnership's web pages. Setting up a contest that shares prizes with a partner's products is another terrific way to pump up traffic between the sites. 

Once you've found the perfect joint partner, there should be no limit to the amount of exchanges you can both engage in online. It will take coordination between the parties but that is easy to manage. Joint partnerships are all about thinking outside of the box and you should already be doing that! 

How Three Entrepreneurs Bounced Back From Failure

We learn as much from our failures as we do from our successes. That has long been a truth in business as well as in life. Here are some prime examples of entrepreneurs who bounced back from failure.

Nihal Mehta

Nihal Mehta is the founder and CEO Local Response. This is a ad-tech firm working out of New York whose primary focus is on social media targeted ads. Anyone who has been in the tech industry is bound to have a failure or two on their portfolio. Mehta's first tech venture folded in 1999. However, he was able to hold onto the programming assets and merge them into a new company that was eventually sold to Omnicon Group. After that he started up Buzzd, which was a real-time mobile city guide. The initial funding was for $4 million. Unfortunately, Buzzd was ahead of its time and never really caught on with consumers.

Instead of going under, Mehta regrouped and recapitalized the entire financial structure of the company. This gave him a much needed cash boost to rebrand as Local Response, and had him poised for the Smartphone revolution that would come a few months later.

The big lesson was finding a way to stay active. "I learned this the hard way--it was six years from my first company to my first exit," Mehta told Entreprenuer.com "Building products isn't easy, but if you keep working hard, keep throwing things at the wall, you will find a way."

Kathryn Minshew

Kathryn Minshew is CEO and co-founder of the Manhattan-based, The Muse. This is a career-development platform that is chock full of resourceful original content, interactive job boards and insightful company profiles. In 2010, Minshew launched Pretty Young Professionals which was geared as a networking site for professional women. A year later the redesigned site attracted 20,000 young women and that's when the trouble started with her partners.

Everyone had a different idea of where the company should go next. Instead of working through, they decided to split up with an equity and intellectual property agreement being formed on a handshake and notepaper without lawyers. Mistake. Minshew took what she learned to start the Muse, which recently posted an impressive 2 million users over 160 countries. Her take away was to formalize partnerships at every step of the way with proper legal representatives. A shrewd business lawyer will see potential pitfalls.

"It's so important to find people who share your values and ethics," she told Entrepreneur.com. "There are a lot of things you can paper over, and having different sets of opinions is valuable, but not when it comes down to code of conduct."

Frank Jadhavji

Frank Jadhavji is the co-founder and current CEO of JustDeals.com, which is described as "a flash-deal site specializing in consumer electronics and appliances." Dealing in actual products had Jadhavji setting up a company warehouse. The first shipment to arrive was stolen. The big problem was that inventory was already sold to waiting online customers and the way out was hunkering down in crisis management. This meant expediting insurance claims and reaching out to the customers to make them away of the situation. 

This was a classic case of "anything that can go wrong, will!" Jadhavji suggests hiring a management team who can handle a crisis with swift action.

How to Do Business in China

Looking to expand your business? You might want to look to the Far East - as in China. There is a groundswell of eager Chinese consumers with money to spend. As the middle class expands they'll be looking for the same types of products and services as every other group of middle class workers around the globe.

How can you break into the Chinese market? It's going to take a little groundwork and investment.

Here's what you need to think about to do business in China:

Get the Lay of the Land

You really can't just drop your products into China and expect them to sell. You'll first want to explore the country.

Don't worry about seeing it all. Stay focused on the urban centers where people are spending their money. The language barrier could be a huge hurdle but it is easy to overcome. There are many locals who are happy to act as an interpreter. Try going through a reputable service to find someone to take you around. For a few bucks you can also download the iTranslate app on your Smartphone which will get you through the basics in a pinch. If you're really serious about doing business in China you might take a language course. That will show your Chinese counterparts that you're respectful of their culture.

Keep in mind that you're not guaranteed to make a quick buck in China. Build a long-term strategy, with a network of employees, business professionals and consultants.

Find a Trade Show

Just like there are trade shows and expos happening all the time on this side of the Pacific, there will be the same kind of opportunities in China. Depending on your business these could be a perfect way to start building up your new Chinese network of business associates.

Retain a Qualified Lawyer

The Chinese have a different way of doing business. Once you embrace that you should be able to navigate the intricacies of the Chinese marketplace. For instance, the Chinese don't embrace contracts as a legally binding agreement but more of a show of good faith. Does this mean you could get ripped off? Perhaps which is why you want to do your homework before setting up shop in Shanghai. A good lawyer will provide you with the legal backing and advice to help you navigate the business culture.

Work With a Consultant

You might find that a solid business consultant on this side of things can be the best introduction into Chinese business and culture. Once again, because of the many business opportunities happening in China you should be able to find a qualified consultant to help you set up your business. Look for a consulting company with many resources as opposed to an individual. You'll get more bang for your buck that way.

Lessons for the Entrepreneur

As the old adage goes, "Those who can, do; and those who can't, teach."

This isn't a slam against your professor but, when it comes to business, nothing beats real life experience. There is a lot you can learn by diving into an entrepreneurship that you could never get from a classroom. 

Consider these lessons:

You Are Your Schedule

Show of hands: who has ditched a college class? Everybody, right? It's hard to imagine getting through four years of business school without sleeping in at least once a semester. Out in the real world you won't have that luxury. You'll learn very fast that your work schedule is what will dictate your potential for success. This might mean taking a meeting on a Saturday morning or working into the wee hours to get a project done. You don't have a lot of options because running a business doesn't mean you can get a "do over" test or hand in a paper late.

Say Goodbye to Down Time

There's a reason why Spring Break is so vital to college students: It's an official break. A week without worrying about tests or papers or classes. In your business you can take a vacation, but chances are during that first year of the startup you'll be putting in some serious work hours and vacations will be on hold. This doesn't mean you'll be working around the clock (not all the time at least) but you'll come to value that time you can take off a lot more.

Keep Your Eyes on the Prize

A typical college semester could be filled with a variety of classes. Yes, they're all going for the same degree but you'll be multitasking up a storm as you juggle multiple classes, homework, projects and tests. For your business you'll benefit from those multitasking skills you developed but you'll also learn the value of laser-like focus. Always keep the big goal front and center and learn to delegate.

Go Beyond the Books

As a business major you'll be required to take some basic accounting courses. The key word here is "basic." In your business, you'll be getting a crash course in whole new level of accounting with regard to taxes, payroll, insurance and shelters not to mention maximizing profits and adjusting for losses. That's a lot of numbers to keep track of and no, you won't be graded on a curve.

Business Relationships Trump Frat Buddies

College is a time for fun. It's the first change students have to live on their own and make decisions. Usually that means a lot of parties. Once you've graduated, you'll need to start building business relationships. Some of your fellow classmates might be a benefit in terms of networking connections but it's vital to strike out on your own and create forge new friendships with people who can help your company.

If you're in college now, embrace the good times because it's an upwards climb from here on out! 

Investors Have Given You Money For Your Business. What's Next?

After working diligently on your business plan and targeting potential investors, you’ve managed to snag some much-needed capital.

Good work. Now what?

Essentially, you have to live up to the promise of your pitch and deliver the goods. How you involve your investors in the early phase of your startup will set the tone for the rest of your relationship.

The goal is to make sure you can remain on solid ground with the money people. This will help improve your relationships throughout the business community and open up the possibility to return to those investors for expansion down the road. Before you get there, consider these proactive steps for involving your investors:

Set a board meeting calendar. By setting a board-meeting calendar you're letting your investors know that you're serious about the business and about getting their input. You should actually set the schedule for the entire year. You might have to rearrange some future meetings but at least your calendar will be a start for this process.

Have an investor dinner. Before the first official board meeting, you might want to think about having an informal gathering over dinner for all of your investors and board members. This is a great opportunity for everyone to get to know each other. Then when you head into those board meetings you can dispense with the small talk and introductions and get right down to business.

Plan an offsite meeting. This should be a full-day affair. You can break up the day with some recreation like playing golf at a hotel but most of the time you'll be in conference to discuss all the matters pertaining to the company and the direction it is headed. You should save this marathon meeting for the third or fourth meeting of the year. During this meeting you can also have members of your staff come by to make reports or presentations about the growth of the company and problem areas to work through.

Schedule one-on-one meetings. Hopefully your board of investors will be frank and honest at all of the company meetings. However, there might be a huge benefit from maintaining these relationships outside of the boardroom. The occasional one-on-one lunch or dinner meeting is the perfect opportunity to keep those lines of communication open and uncover any "hidden agenda" issues.

Stay out in front of bad news. It's not all going to be "rainbows and unicorns." You'll have some dark days ahead. When trouble happens don't try to bury it in a company report. Get out in front of the bad news and let your investors know you're in top of things. No matter how bad it might be they would rather hear it from you then from Twitter!

Overall you want your investors to feel that are a vital part of your company's success. That's not a stretch. All you have to do is honor their commitment with honest communication. 

Is Alternative Lending a Good Option for Your Business?

Every business needs working cash. What if you need to get that cash before you open your doors? Suppose you need extra capital to expand your business? There was a time when the only game in town was to go to a bank to secure a business loans. However, with the roller-coaster ride that is the economy, banks have grown skittish when it comes to lending. Luckily, there are alternative lending options available. 

Can your business benefit from these?

The Alternative Lenders

There are various types of alternative lenders that you can research to see who might be a good fit for your company. Depending on your credit history and earning potential, your selections might be narrowed down but that doesn't mean you can't ask. 

Here are some alternative lenders to consider:

Credit Unions: A credit union is controlled by its members. It's also a not-for-profit type of institution so you are sure to get some decent rates. You'll find credit unions based out of your community and supported by various trades people, thus the "union" part of the credit union.

Micro Lenders: These are organizations that are charged with lending funds to economically disadvantaged communities. The goal is to spur business and you might be able to ride that wave into some serious cash flow.

Factors Lenders: Sometimes referred to as Accounts Receivable Lenders, these are alternative lenders who buy up a business's accounts receivable and provides a kind of cash advance to the company. You still have to stay in business and pay back the loan but it's a good way to get quick funds.

The Advantages of Alternative Lending

One of the biggest advantages of alternative lending is the flexibility. Unlike the mountains of paperwork and guidelines you have to follow with a big bank, an alternative lender will often have a streamline process for putting money into your account. They strive to make things less complicated.

Getting approved quickly is another benefit. You won't be wasting time with alternative lenders and that can make all the difference when it comes to keeping your business up and running. Best of all, alternative lending is a smart way to go when you consider the minimal risk. Often you won't have to put up collateral so no need to take out a mortgage on your home. Shop around and see what alternative lending sources can do for your business. 

How to Find a Job Candidate's Social Media Profile

When a potential employee applies for a job they are hoping to present themselves in the best light possible. They are in charge of their own CV and behavior during an interview. However, if they will be hired to have a public role representing your company, you're well within your rights to do a deeper investigation into their online presence.

The thing about social media is that it's out there for the public to see. When it comes to tweets, comments and other types of public postings that job candidate can't expect those to remain secret. If you want to find out more about a prospective employee you can start with their profile picture.

Search By Image

A person who posts a profile will often use the same profile picture. You can find out where all those pictures have been used by installing Google Chrome. There is a easy to use extension plug-in called "Search by Image." You'll need to ad that app to your Chrome and you'll be good to go.

Once it is installed, all you need to do is right click the photo and use the "Search Google with this image" option. You should be directed to a page of duplicate photos. Each one of those photos can link to a different social media account where that profile picture was used. You'll be able to follow that person onto Twitter, LinkedIn or Facebook. If they have a blog or YouTube Channel you can also find a pathway to those accounts with the Google Image Search.

Keep in mind that this isn't an invasion of privacy. If someone posts pictures of themselves going wild at a bachelor party or hurling slurs in a comment section then they are being their own worst enemy. Just because you can post something doesn't mean you have to post everything! A person's discretion with their public profile says a lot about their character.

Expanding Your Search

Once you've found links to their social media accounts you can get a sense of how they interact in various forums. You can use this same tool to track information about your own company. If you have a product picture on your website that might have been snagged by someone to post in their own blog. Do they have permission for that? Are they saying disparaging things about your brand? If you discover something like that hopefully you can bring a quick end to the negativity.