How to use social media to advertise your business has always been a game of catch-up. Inventors, investors and programmers are constantly busy with building new sites, creating new applications that will change or improve the way we connect with each other and our viewing habits.
TechCrunch, a company that started as a blog in 2005 and has evolved to be one of the biggest and more innovative companies, holds a yearly conference where they choose 25 new startups from over 1000 applications to present their ideas to the conference and through it to the world.
At the last conference in San Francisco, in September 2010, TechCrunch chose to show a few companies that might have an impact on how you advertise your small business through the web. Here are some to watch for:
Badgeville – Aims to help increase audience engagement and loyalty by providing an easy way for web publishers, media sites and brands to increase engagement with their customers. It also enables measuring and optimization of users engagement.
Gifi – Combines Venmo and FourSquare into a location based game involving real money. Recommending a restaurant or a dish becomes a social game. Users can hide money for their friends to be unlocked when they order the dish they recommended for example. It provides business owners with a simple way to deliver rewards for valued or frequent customers. Every time a customer is rewarded, the business gets exposure through the social media sites of their customer’s friends. The company received $1.2 million in seed money this year.
Gripe – A location based free mobile app. It allows the users to send complaints or cheers about a business they frequented. The remarks are sent to the business as well and they can react, while spreading the words through friends and followers. By resolving complaints, businesses can turn detractors into promoters spreading positive word-of-mouth to everyone on their social media network.
Sumazi – was awarded by TechCrunch as the startup “most likely to change the world”. By intelligently connecting people to other people they don’t know but should, they leverage the personal and extended networks to discover, recommend and introduce customers to other people and opportunities at the right time.
Tello – another startup which aims to help companies improve customer service by providing real time reactions to their customer’s experience. It is a mobile and social application. Businesses of all sizes can improve service and engage customers in conversation, resolving issue and monitor employee ratings.
Which of these will flourish remains to be seen. Watch for them and subscribe when they become operational.
Puglisi
So You Want to Start a Business Blog….
A paradigm shift (shift in habits) has been happening in the last year as far as blogging is concerned. It was not surprising to find that according to a research done by Hubspot, blogs are the most critical platform for businesses, more than social media.
75% of the respondents said they consider blogs ‘useful’ and 31% said it is ‘critical’ to their business.
According to the survey businesses with corporate blog generate more leads than businesses which don’t have one. And it is true not only for business to customer relations but also for business to business.
As long as you post quality content which addresses your specific target audience, business leads are almost guaranteed.
The quality of the content, posting frequency and having an interesting and easy to read design, have to be consistent to ensure effectiveness.
Before you embark on a blogging adventure you have to ask yourself several questions:
– What are your strategies? Experts have found 4 different kinds of blogs that are used for businesses advantage:
Building brand awareness through leadership. It requires businesses to share their thoughts and opinions regarding their industry. The aim is to be a trusted source, to be considered an expert in the field and come up with blogs about new developments, opinions about old ones and guidelines. (For example: http://edelmandigital.com/page/1/)
Another kind of blog deals with the corporate culture – helping others understand the company and what motivates it. (http://blogs.zappos.com/blogs/inside-zappos)
Connecting with leaders – is another kind of blog written by the CEO or another head of company. It helps connect the leaders of the company with its employees and the customers. It creates familiarity that has disappeared from the corporate culture as companies grow bigger. (http://www.blogs.marriott.com/)
Branding – a blog that establishes a brand image. (http://www.openforum.com/)
The content must reflect the reason for the blog.
– Set Goals – Think what you want to achieve with the blog and how are you going to be able to see if you accomplished that goal.
– Management – Someone in the company has to be responsible for the blog. If you don’t have an IT to build the blog for you, you can go to hosted blogging services such as WordPress. That is for the look of the blog and the ability to upload it quickly, but managing the content is another issue. Have an “editor” designated to working on the blog and generating and evaluating the information that comes in. Have more than one person post blogs especially if you want to publish on a daily basis.
– Post interesting blogs. Make them easy to read and informative. You’d want people to spread the word through Tweets and the readers own social networks.
Small Businesses and their Banks
How many keyboard strokes have been used to write about small business and the banks? Too many to count.
Promises were given, rules are being written and debated in Congress and the Senate, ideas become laws – and still the economy is not moving forward in the desired pace.
Small business owners blame the banks for making it difficult to get a loan and expend the business. Banks are saying they have been burnt enough with bad loans and there are less and less applications for loans. In the last quarter the numbers of loans given by the banks went down 12%.
It seems like a ‘Catch 22’.
Are we doomed to continue this cycle forever? As with everything else that triggers the American ingenuity, there are solutions, even when it comes to banks and lending.
A recent poll by J.D Power and Associates wanted to check the current relationships between small business owners and their banks. They conducted a survey in July and August 2010 among over 6,600 financial decision makers in companies with revenues between $100,000 and $10 million, about their relationships with their banks.
The loyalty factor of small business to their bank has been declining drastically. If in 2008, 34% of small business owners said they will definitely go back to their bank, in 2010 the number dropped to 19%. Less than a quarter of people who do business with banks will not go back. In any other business it will be a cause for a major alarm.
The biggest complaints small business owners have is that they are not getting the support they need from the bank.
The poll shows that small business owners want a few simple things;
They want a point man, someone they can talk to. Someone that understands a bit about their business and someone that is available, either physically at the branch or through E mail.
They want to know in advance what the fees will be. Small business owner don’t expect to get something for nothing, but many complain about being blindsided by additional fees and charges they were not aware of when they signed the contract.
It looks like the big national banks are the ones who fail their customers in those two areas.
The list of the “Least Satisfied With” banks starts with Bank of America, Chase and Citibank. It continues with Wells Fargo and the rest of the big banks.
According to the poll, the ones who did get a good loyalty rating were the small regional banks like SunTrust in Atlanta, KeyCorp in Cleveland and Huntington National Bank because they are headquartered in Columbus Ohio as local banks.
I for one have used Suffolk County National Bank and Suffolk Federal Credit Union. These two are located in Suffolk County New York and still have a great personal feel to them.
Big banks have lost the human relationships with their clients. It may be high time to leave those big ones and go with the smaller local banks, with bankers like George Baily in “It’s a Wonderful Life”, a movie we will soon be seeing again on TV, come Christmas.
Capitalizing on Social Media: Michigan State University
“Many MSU alumni have emerged as players in the newly emerging social media, a phenomenon that is revolutionizing traditional notions of marketing, communication and social relationships” (MSU Alumni Magazine 2010 Summer Issue).
This MSU Alum is sold, it seems that while others are content with their status quo, Spartans are starting to dominate the digital world and that includes Social Media. With one of the largest Alumni networks in the world it is no surprise that MSU would be at the front of Social Media, from advertising, recruitment and even alumni relations, it’s clear that MSUAA has hit the ground, flying? That’s right the number of MSU Alumni on Social media is sky high!
Take LinkedIn for example, the MSUAA currently has hundreds of comments about Spartan Alumni Job Opportunities as part of the over 20,000 MSUAA LinkedIn Members. That’s 20,000 where the average Alumni group has only about a third of that! Only the Long Horns boast more with 22,000, where University of Miami, Florida State, Alabama, Penn State, Iowa and more all have under 5,000.
“At the end of the day, you have to find new ways to add value to the world,” said Scott Westerman. “It’s about the friendships and relationships that you have gained” (MSU Alumni Magazine 2010 Summer Issue).
YouTube – LinkedIn – Twitter – UStream – MSUAA Blog
MSU Rides the Social Media Wave!!!
“Think of what half a million people can do.” just a one line statement that exemplifies the experience and network that MSU offers.
“The Day we created an cancer saving drug began like any other” just one of the examples of the global impact that MSU has, had and will continue to make.
How about a campus tour? – What’s it like to live at MSU? – GO GREEN!!!
What about being part of a NCAA Division 1 Athletics program, talk about school spirit!!!
While MSU and the MSUAA seem to bolster a powerhouse of Social Networking opportunities online, let’s not forget that the nearly 500,000 alumni across the earth, which means you are as likely to run into one doing anything from helping an old lady across the street, to serving as a CEO of just about every other major company.
Basil C. Puglisi, is a member of the MSUAA and a Proud Member of the Graduating Class of 2005 from the School of Social Science at Michigan State University.
Business Growth: Issue 27 – Know How to Hire
As your business grows, you quickly realize that you can’t do all the work by yourself. Finding people that you can trust is difficult, and just a few bad hires can send your business into a tailspin. Take the time to make sure that you adhere to these simple hiring tips.
Interview, Interview, Interview
Your first stop for new hires will likely be your close network of friends, families and former co-workers. This is an excellent starting point, because these are the people that you know and trust the most. However, don’t stop there. Cast a wide net during the interview process. Post jobs online and through any professional or collegiate networks that you belong to. You never know where the best candidates might come from, and by interviewing a wide variety of people, you will get a better idea of what you do and do not want in a new employee.
Be Honest
As you craft job descriptions, be brutally honest in what the job entails and what you expect in new employees. If the job title is “Warehouse Logistics Executive”, but the employee will mostly be performing m annual labor in a warehouse, consider changing the job title to “Warehouse Personnel” to attract the correct candidates. If you expect new employees to be available during off hours or on the weekends, state that in the job description. There is no use sugar coating the details or making the job sound different than what it really is. Deception might attract some great candidates, but these employees will quickly become disgruntled as they realize the true nature of the job.
However, do be sure to list the highlights of the position. If you offer great benefits, flexible hours or extra vacation, be sure to include that in the job description.
Pay Attention to Culture
Before you hire, be sure to consider the culture of your company. Do you want the work environment to be laid back and collegial, or quiet and professional? Seek out candidates that fit with the culture that you are trying to create. Hiring people that fit together culturally is key to creating a healthy work environment and happy and productive employees.
Know When to Say No
Interviewing is a personal and intense process. It can be difficult to say no to candidates, but it is extremely important to know when to say no. Remember that just one bad hire can take up time from other productive employees, and just one unhappy employee can bring down an entire company’s morale. Say no and move on to the most qualified candidates.
Hiring new employees takes a lot of resources for a small business, but finding the right people is critical to success.
Traditional Networking 101
The term “networking” has evolved over the past few years. Many networks today exist primarily online, and members of online networks might never meet each other in person. While online networking in the form of Twitter, LinkedIn and other social media is an important element in today’s digital environment, don’t forget about the power of traditional networking. Here are a few tips to jumpstart your offline network.
Attend Industry Events
The best way to meet relevant professionals in your industry is at industry-specific events. Look online for the most important events that are held for your type of business. Make sure that the key members of your company attend these events. If possible, reserve a booth for your company or ask if one of your team members can act as a speaker or panelist.
During these types of events, the goal is to interact with as many people as possible. Every person you meet adds to your network of peers and potential clients. If you are looking to hire, keep an eye out for potential employees. Be sure to grab contact information for everyone you speak to.
Give to Others
As the saying goes, you only get what you give. Networking is a two-way street, and in order to reap the benefits, you must provide support to the fellow members of your network. Be willing and able to listen to other’s business concerns and to lend a hand to help answer questions or find resources for those who need them. Attending to the needs of those in your network takes minimal time, but by helping others, you ensure that others are willing to help you.
Follow Up
During the course of tending to business, attending industry events and going about your daily life, you will come into contact with hundreds of people. Always get a business card for new people you meet, and keep an organized contact log with everyone’s information. Follow up with important contacts frequently, even if you do not need to speak with them. Consider organizing a coffee meeting or lunch date to catch up on business ideas and industry trends. Keeping up a relationship with people in your network ensures that you have an open line of communication when you need them.
Be sure to use traditional networking in addition to online networking as you build your business. Although nothing beats the convenience of networking online, building strong in-person relationships is an important component to any successful company.
Why consultants are a must for every business owner!
The hardest part of being a business owner is almost always the lonely perch or the glass floor the partnership is initially created on. As a business owner you really can’t ask an employee how you are doing… well at least with the intent on possibly getting the harsh truth you may need.
The hardest part about employees is that you recruited them! That’s right, you selected them, which means that they fit into a specific set of guidelines, experiences or education that you value. As such they are not bringing a new perspective that will really jolt the direction or growth of your business.
Why Consultants are a must
The consultant provides you an opportunity to think outside the box, consider issues, policy and procedures that are not influenced by budget limitations, family input or employee’s self-serving influence. The consultant should have an experience and preferably an education that brings value to your business. A consultant can also be a temporary fixed cost that is easily dismissed if they bring no results. They should also bring an opinion that is not bias because of fear of your supervision.
Beyond your script or plan
The concept behind having a consultant comes from the need to grow! Your business is likely already successful because of what your brought to it, be it hard work, ideas, capital whatever. The role of the consultant is to give you a snapshot of where you’re at and where you can go, and how!
A case for value
Consultants provide you with a valuable tool and personal that you may not be able to supply or provide just yet. Take Social Brand Reputation Management, the concept is so complex and solved so simply.
A company or business wants to protect their brand, product or anything else. To hire a Public Relations employee might be 40k-80k, but to protect their brand online or to promote the business with social media they may spend hours and hours of their time or again hire a technology staff of 1 or 2 at an additional cost of 30k – 80k, that could be $160,000 plus benefits!!! A consulting service who services 4-10 clients in this subject will likely charge a fraction of that and be better connected to media sources and technology because they cover a wider scope of clients.
Promotional Social Interactive – FourSquare
Promotional Social Interactive – FourSquare
My reaction to AOL cover story – http://www.switched.com/2010/06/30/testing-times-square-what-is-foursquare/2#comments
FourSquare was developed a short time ago. As a Social Media application it was met with the “So what,who cares” as Twitter and Facebook seem to be the only Social Tools that the masses have taken to.
FourSquare uses Twitter and Facebook to deliver its content and purpose…. WHAT?
That’s right, FourSquare’s update “micro blog” posts to both Twitter and Facebook. However, if you are an avid Twitter user you already can set your tweets to syndicate on facebook.
What does this mean?
Well, this means that FourSquare leverages the followers and friends to maximize exposure, communication and interaction. The interaction is the new “oooohhh” shiny toy. FourSquare is a location- based application that allows users and businesses to interact and promote on a mobile level that Twitter and Facebook are yet to capitalize on.
FourSquare uses locations and has tips and the coveted “Mayor” status. Let’s talk about Starbucks, the location is at, yes you guessed it, Starbucks…. so you go to Starbucks, your favorite location and you “check in here” the mobile application logs you in, detects your location and then lets you “micro blog” or tweet what you want. You get points for checking in at that location and all your friends, FourSquare, Twitter and Facebook now know you’re at Starbucks, even if your tweet didn’t say Starbucks the location and link does. Now that’s direct advertising. In addition to you blasting out your location and hoping someone else nearby sees and decides to stop in and say hello, you can read about tips, deals or specials as posted by that location or other visitors.
Mayor status: Once you have checked into a location, over the course of sixty days, more then anyone else you become the mayor for being the frequent visitor. The Mayor status is an opportunity for the business, i.e. Starbucks by me offers a free coffee or half price Frap anytime the mayor visits the location.
Tips: This little feature can really help you be the winner, let’s say you go to Paces Steak House in Port Jeff, NY. The Tips section can tell you to ask for a “Fun Platter”. This local treat is not on the menu and unless you ask for it they are not giving it to you. The “Fun Platter” is a mix of Steak, Salad, Seafood, Olives, Fresh Clams and more…now without FourSquare Tips you may have missed out on this opportunity.
Visibility by Puglisi Consulting Group
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