by Rene Street | Nov 12, 2019 | Uncategorized
Organizations have many options when it comes to marketing for Small Business Saturday, which occurs on the first Saturday after Thanksgiving. Small Business Saturday encourages consumers to support local businesses. The event drives attention to local small companies, presenting them with an opportunity to create brand awareness and increase local sales.
Taking advantage of Small Business Saturday requires planning, executing, and financing strategies. Funding your efforts can be done through securing a small business loan. The working capital can be used to hire seasonal staff, purchase extra inventory, or pay for a marketing campaign.
However, marketing isn’t always simple. Here’s what you need to know and how to take advantage of small business’s big day.
Ramp Up Digital Marketing for Small Business Saturday
Brands must work to engage customers through both digital and physical means. This omnichannel experience begins with digital marketing basics. You Should Consider:
Building Relationships on Social Media: Connecting with customers on social media can help you capture additional holiday sales. When marketing for Small Business Saturday, you may want to gradually tease out your plans for the big day. You can use social media to broadcast a special offer or invite customers to an in-store event. Social media is ideal for highlighting how you plan to celebrate Small Business Saturday. When posting on social media, be sure to include the #ShopSmall and #SmallBizSat hashtags.
Using Email Marketing: Email campaigns are an effective way to garner consumer attention and bring awareness to exclusive Small Business Saturday deals. It’s important to go beyond broad, generic messages. Personalization is increasingly vital in standing out in email campaigns. Key Strategies to Employ:
- Take the time to get to know your audience.
- Create copy aimed directly at them.
- Highlight promotions that fit their needs.
- Give them a clear action to take in response to the message.
Fostering Online Reviews: Consumers actively research products and services before committing to a purchase. Consider teaming up with an influencer who has a large following and a fair amount of influence within your area or niche. You can send them product samples in return for an honest review. This will help drive visibility and increase consumer confidence.
Implement Traditional Advertising Programs
Small businesses benefit from the ability to offer localized, personal services. You can leverage your relationship with your community to build trust and increase brand awareness. Traditional advertising campaigns can be ideal for furthering your presence in your community. Key Strategies to Employ:
Getting Involved With Your Local Community: Participating in community service events helps you get to know those around you. And helps them get to know your business. Interacting with potential customers in a community setting shows that you’re interested in relationship building rather than just maximizing sales. You could consider sponsoring a charity or local event. Successful community involvement plans require commitment and a genuine interest in what you’re doing.
Run Ad Campaigns With Local Media: If you want to drive engagement at a local level, you must use channels that are specifically aimed at your local community. Your message can slip into the background on far-reaching media channels, but an ad campaign in a local paper can go a long way in helping people connect with your brand.
Offer Deals and Promotions: It’s critical to recognize the importance of deals and promotions when marketing for Small Business Saturday. Limited time offers, and discounts can persuade customers who are on the fence about your products and services to give them a try.
Prepare Your Systems and Operations
If you’re successful at marketing for Small Business Saturday, then you’ll need to be prepared for an increase in volume and customer interactions. Consider:
Optimizing for Mobile: Consumers do everything from product research to actual purchases via smartphones and tablets. Make sure your website is mobile optimized. If your website is not optimized for mobile, you risk running into problems as you work to increase traffic surrounding Small Business Saturday.
Updating Your Website: Make sure your address and contact info is correct on your website. Additionally, review your site to make sure that promotions are prominently displayed, and your payment process is working properly. Put new product pictures out if your current listings seem dated and ensure copy properly reflects your services. Take time to upgrade and adjust your website before the big event.
Hiring Seasonal Staff: Since Small Business Saturday falls in line with the holiday season, it’s a convenient time to bring in extra staff. Seasonal employees can be used to help launch a new marketing campaign, handle sales, or interact with customers.
Managing Your Inventory: One of the most important considerations for Small Business Saturday is that you have plenty of goods to sell. A boost in sales won’t matter if you don’t have inventory available to meet customer needs. Take some time to analyze your supplies and ensure you’re ready for the increase in demand.
By participating in Small Business Saturday, local businesses receive quite a few perks including community support, great local marketing opportunities, and the high potential to reach new customers. Utilize the above marketing strategies to better prepare for Small Business Saturday and take advantage of the shopping frenzy.
Ben Gold is president of QuickBridge, a privately-held financial services firm providing “small business loans” and short-term working capital funding solutions for small-to medium-sized businesses nationwide. Based on its growth, QuickBridge has ranked two consecutive years on the Inc. 500 Fastest Growing American Companies list. Ben is a thought leader in the financial tech. industry and a contributing member of the Forbes Finance Council.
by Rene Street | May 27, 2019 | Uncategorized
Author, KRISTINA PODNAR is a digital policy innovator. For over two decades, she has worked with some of the most high-profile companies in the world and has helped them see policies as opportunities to free the organization from uncertainty, risk, and internal chaos. Podnar’s approach brings in marketing, human resources, IT, legal, compliance, security, and procurement to create digital policies and practices that comply with regulations, unlock opportunity, strengthen the brand and liberate employees.
Just as we have gotten used to the idea that the EU’s General Data Protection Regulation (GDPR) is a fact of life and have made modifications in our data collection procedures, the Brazil General Data Protection Law (LGDP), the California Consumer Privacy Act (CCPA), and waves of proposed new data privacy laws are swirling in the calm forewarning of a privacy tsunami heading our way. In the middle of such deep acronym swirls, it could be easy to be overwhelmed. However, all the privacy regulations share a number of commonalities and by addressing these now, you will be on high ground as the waves begin to pound.
The compliance life raft
While you will need to pay attention to the details of individual data regulations as they arise, whether already adopted, pending adoption, or only proposed, all the regulations share certain commonalities that you should consider addressing as part of ongoing operations.
Accountability and governance
At the heart of data privacy requirements is the aim to have organizations develop a plan to self-manage data in a way that respects end users. To address accountability and governance requirements in your organization, consider, have you:
- Reviewed the applicability and risk to the organization from data privacy issues, and considered alternatives, including insurance, in case you are fined?
- Mandated that data privacy become part of the policy program, including staff training, measurement, and compliance reporting?
- Clearly documented roles, responsibilities, and reporting lines to embed privacy compliance
Consent and processing
A fundamental privacy regulation concept is that end users are aware when and why their data is collected, and what happens to it once it’s given. To address these requirements, ask yourself whether you have:
- Reviewed that the data being collected and used is necessary and for the benefit of completing a desired action by the user?
- Identified sensitive data and ensured it is treated as such through the use of special encryption or by validating vendor storage practices for sensitive data, etc.?
- Confirmed that user consent for data collection is clearly captured and documented, and that user data can be modified or erased?
Notifications and data rights
Gone are the days of legalese or simply taking data from users because we can. Data privacy regulations require transparency, user awareness, and forthright behavior by businesses. To ensure you get this right, ask yourself whether the organization has:
- Written user notices clearly so they can be easily understood—properly targeted to children where relevant—and are reflective of specific data collection and usage purposes?
- Updated the internal organization’s data privacy policy to clearly state the rights of prospects and customers regarding the collection and processing of their personal data?
- Created and tested processes to correct and delete all user data if needed?
- Developed a solution to give users their data in a portable electronic format?
Privacy design
Organizations that treat privacy as a core design principle will always be in alignment with data privacy regulations. In my consulting experience, I see many self-disciplined organizations that have historically had good privacy practices and have little to address with each new law. To get to that state, ask whether you have:
- Created or updated the policy and associated process to embed privacy into all technology and digital projects, including those outsourced to vendors and partners?
Data breach notification
For many organizations, the question nowadays isn’t whether the organization will have a breach, but rather when will it happen and how will they respond. To address regulatory breach aspects, ask whether the organization has:
- Created (or reviewed and updated an existing) data breach policy and response plan to reflect detection, notification, and the actions to mitigate loss?
- Considered and obtained insurance for a possible data breach and regulatory penalties that the organization may face but not be able to handle on its own?
- Incorporated data breach terms and requirements into all vendor and third-party contracts?
Data localization
New data privacy regulations state where data physically must be stored, and if transferred to another country, what are the requirements for doing so. Your organization will be well positioned to meet this requirement if it can answer:
- Have we identified and updated all cross-border data flows from the country where the data is collected, and reviewed data export for on-premise and cloud solutions?
Children’s online privacy considerations
Data privacy regulations are concerned with end users, but are even more strict about children and their online data protection and rights. It is best to get ahead of these issues by asking whether the organization has:
- Defined what data it collects from children, whether as a business practice or through efforts like “take your child to work day”?
- Are user notifications and online privacy statements written in a way that a child could understand them, and do they state that parental consent is required?
Contracting and procurement
Most businesses may struggle to understand exactly what personal user data is collected via websites, mobile applications, and other digital platforms, especially through third-party software solutions and vendors. To make sure that your organization isn’t caught out, ask whether you have:
- Reviewed and ensured that all vendors, customers, and third-party agreements reflect data regulatory requirements?
- Defined procurement processes such that privacy is integrated into all products and services the organization buys, including regarding data minimization, the visibility of onward data flows, and data ownership?
by American Business Women's Association | Feb 1, 2019 | Uncategorized
By Leigh Elmore. Leigh is editor-at-large for ABWA’s Women in Business Magazine. He lives and works in Kansas City, MO.
Flashy dribbler for the Harlem Globetrotters takes it to her male competitors. If you play for the Harlem Globetrotters, then you have to have a nickname. Many people “of a certain age” can remember some nicks of the Globetrotters’ past: “Meadowlark” Lemon and Fred “Curly” Neal, for example.
Well, move over guys, because these days the three traveling squads of Harlem Globetrotters boast players with the names such as “Champ” Thompson, “Ice” Hrynko, “Torch” George, “TNT” Lister, “Mighty” Mortimer, “Swish” Young and Briana “Hoops” Green, the seven women currently listed on the Globetrotters’ roster.
Green is the 15th woman to don the red, white and blue Globetrotters uniform, beginning with Lynette Woodard who joined the team in 1985.
“I first saw the Globetrotters when I was seven years old,” Green told ABWA recently. “I didn’t know who they were, but I certainly was entertained and impressed. But, at that young age I already knew that I wanted to play basketball professionally.”
During that time period Green was regularly playing pick-up ball with her older brother and other kids in the neighborhood of her hometown, Lexington, KY. She later went on to star on her high school team, Lexington Catholic, and helped the team garner two state championships on her way to playing college ball at the University of Texas-El Paso. Green would then play professionally in the Czech Republic, Spain and Mexico.
However, in 2017 she felt like she needed a change. “I was trying to figure out if I wanted to continue to play professionally overseas,” said Green. “It just so happened that I posted a video on Facebook of me dribbling, and the video went viral. Everybody was tagging the Globetrotters and how I should be on the team so a recruiter saw it and he invited me to try out.”
And the rest as we say is history. She was invited to join the team where she fills one of the roles as ball-handler and flashy dribbler. Now in her third year with the Globetrotters, she noted that she had played against boys from an early age and, “I played on a lot of co-ed teams,” along the way as well.
“As far as my dribbling ability, I think I can compete with the best of them. The dribbling part always came naturally,” she said. It’s the Globetrotters’ entertaining repertoire of tricks that she needed to practice. “I do have to work on it.”
Since her debut with the Globetrotters, Green has learned a lot from the teammates she calls brothers. Being a Globetrotter is all about providing entertainment—about mixing real, competitive basketball with the signature tricks and routines that fans have come to know and love. At the same time, it’s also about service and using the iconic Globetrotters brand for good.
“We are known for being ambassadors of good will,” she said. “It’s about being good role models for kids.” She says some of her favorite moments are talking to kids after the games. “I’m used to little girls looking up to another girl, but when a younger guy comes up to me and tells me that I’m their favorite basketball player, I’m like, ‘Yeah, we can do this!’” she said.
She and her teammates visit a lot of schools and hospitals as part of the Globetrotters’ goodwill efforts.
The Harlem Globetrotters have always been enthralling and accessible. But, by including female athletes in their engaging routines, they’ve anchored a new demographic: Girls. The women on their active roster have become role models for young women everywhere. While leagues like the Women’s National Basketball Association (WNBA) and the National Collegiate Athletic Association (NCAA) also showcase women’s basketball, playing on the Globetrotters gives Hoops and her female teammates a unique chance to match up against talented male athletes.
“It’s important that everyone knows that women are more than capable of competing at that level,” she said, “not just with basketball, with anything.”
by American Business Women's Association | Dec 11, 2018 | Blog, Uncategorized
The life of an entrepreneur – or at least the idea behind that life – can seem enticing to just about everyone. You launch a new enterprise that makes millions – and maybe even changes the way people lead their lives. But why do some people follow through on such visions with great fanfare and success, while others fail miserably – or never follow through at all?
“There’s just this mindset that the very best entrepreneurs have that positions them for success when others around them are struggling and unable to stay the course,” says Peter J. Strauss (www.peterjstrauss.com), an attorney, entrepreneur and author of the upcoming book The Accidental Life.
Strauss says that anyone who is feeling the entrepreneurial tug, and wants to mimic the most successful entrepreneurs, would do well to consider these three points:
- Remember that fortune favors the bold. On the outside entrepreneurs may appear confident and assured in their actions, ready to take the steps needed to achieve success without hesitation. In reality, Strauss says, most successful entrepreneurs have a voice inside them imploring them to wait, to not take that chance. The difference between them and others is they ignore that inner voice. “In my career, I tried to prepare myself as best I could for my next step, but I always had to take a leap of faith to some degree,” Strauss says. “There’s never going to be perfect time or situation that is a guaranteed win. For any significant opportunity, there is always a risk.”
- Take the “life gives you lemons” approach. Things don’t always work out the way we hope, but that doesn’t mean you have to accept defeat. Strauss points out that Steve Jobs was once fired by the board of the company he founded. “Steve Jobs easily could have decided that his life as an entrepreneur was not meant to be,” Strauss says. “Instead, he built another company and eventually found himself back at the helm of Apple. Jobs knew that whatever happened, his was not going to be a story of failure.” It’s inevitable that life will throw you curveballs, he says, so learn to hit them. “The good news is that adaptability can be learned,” Strauss says. “The more you train yourself to see possibility in the curveballs, the more you will adapt to hitting singles, doubles and even home runs.”
- Understand the “family” connection. Businesses often describe their organizations as “family.” Sometimes that’s just lip service, Strauss says, but in the best corporate cultures the team respects one another and holds each other accountable – much like a family. “If you are in a leadership position, it’s up to you to instill this mindset and to be the role model for it in your company,” he says. He even discovered that the business family he created as an entrepreneur helped make him a better parent. “If I don’t set clear goals and expectations at work, I can’t be disappointed or surprised when my team falls short,” he says. “The same holds true at home. Framing expectations as a dialogue will make your family and your team feel valued.”
“Ultimately, no matter the obstacles, entrepreneurs just find a way to persevere and get the job done,” Strauss says. “But that doesn’t mean it’s always easy. There are real risks involved. People rarely see all the ins and outs and ups and downs of what it takes to reach a place where you feel real success.”
About Peter J. Strauss
Peter J. Strauss (www.peterjstrauss.com) is an attorney, entrepreneur and author of several books, including the soon-to-be-released The Accidental Life. He is the founder and managing member of The Strauss Law Firm, LLC, on Hilton Head Island, S.C, and also the founder and CEO of Hamilton Captive Management, LLC. He is a graduate of the New England School of Law and of Harvard Business School’s Owner/President Management program.
by American Business Women's Association | Nov 30, 2018 | Uncategorized
With 2019 just a few weeks away, managers and business owners are charged with writing a business plan. Shared by experts, here are 10 tips for jump starting your planning process:
- Know your competition, and be willing to capitalize on your competitive differences in the delivery of your packaging, pricing, products and services.
- Take time to identify your target customers and research industry trends that could impact your business performance.
- Use your past performance as a guide post when setting your business goals versus relying on your intuition.
- Identify variables that positively or negatively impacted your performance this year, and identify any potential threats that will impact your performance next year.
- Be conservative when it comes to your financial projections, and always build in a financial cushion in the event of lag performance or market variations. Cash flow is still king (or queen in case of the women business owner/executive)!
- Present your financial projections in a standard business format.
- Be realistic about your team’s competencies and capabilities when defining your business goals.
- Think like a journalist and avoid superlative adjectives like “amazing” and “outstanding.” Instead, aim for clarity and brevity without being needlessly wordy.
- Be prepared to support your business assumptions when presenting your plan to vested parties by answering the questions you think are likely to be asked during your presentation and,
- Finally, commit to your plan by monitoring and measuring your performance regularly.
These 10 tips should help when it comes to jump starting your planning process for 2019. For more support writing a business plan for your business, click here to join the American Business Women’s Association.
