Archive for March, 2010

By Doug Caverly – Wed, 03/10/2010 –

97% of consumers use online media when researching local stuff

Small business owners who have worked hard to create sites, use social media, and proofread info on services like Google Maps should be pleased to know their effort’s likely to pay off. BIA/Kelsey and ConStat have determined that 97 percent of consumers use online media when shopping locally.

As for some specifics, search engine optimization remains a critical matter, considering that 90 percent of consumers use search engines to conduct research. Otherwise, Internet Yellow Pages, comparison shopping sites, and vertical sites are some of the places people are most likely to go.

All in all, though, the study found that folks use an average of 7.9 different media sources when shopping for local products or services, compared to just 6.5 in 2009, so the more places a business’s name can be found online, the better.

Steve Marshall, BIA/Kelsey’s director of research, observed in a statement, “The Internet has indeed become an integral part of consumers’ local commercial activity. The data suggest we’re at an inflection point where the balance of power in local shopping is shifting to online.”

A couple of other interesting details: 58 percent of the study’s participants used an online coupon in the past year, and 19 percent of them made an appointment (other than a restaurant reservation) online during the same period.
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Facebook and PayPal Make Payments Simple

By Ali Ord – Thu, 02/18/2010 –

Advertisers can now use PayPal to make payments on Facebook Ads

Today, Facebook announced their new relationship with PayPal. The new partnership will allow advertisers to make payments through PayPay to Facebook, forming a quick and less difficult process for many businesses, specially helping in areas where payments are more expensive, and for small international companies. Facebook advertisers may find this new system to be a more convenient option when paying for Facebook Ads.

“We want to give the people who use Facebook, as well as advertisers and developers, a fast and trusted way to pay across our service. As our business has grown, offering local methods of payment has become increasingly important for advertisers who want to buy Facebook Ads. Teaming with PayPal, a global leader in online payments, makes this possible,” said Dan Levy, director of payment operations for Facebook.

PayPal could also be a benefit for users that desire Facebook Credits, currently being tested on games and applications, to pay for products on the Facebook Gift Shop and other goods accessible on Facebook. With 400 million people, 70 percent of these in the United States, Facebook has created a community where different payment options are required to make the process simpler for users. PayPal could do just that.

“Put simply, PayPal’s business is payments. We make it easier for customers to send and receive money online in 24 currencies and 190 markets around the world. We’ve always been an important part of the developer ecosystem on Facebook, and we’re excited to expand our relationship directly with Facebook to help grow advertisers’ and developers’ businesses,” said Osama Bedier, PayPal’s vice president of platform and emerging technology.

PayPal will be a manageable way for small businesses to pay for Facebook Ads without payment complications. This new system can only make the process of paying less involved for small businesses.


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Canada’s Business Barometer Continues To Rise

By Doug Caverly – Thu, 03/04/2010 -

Measure of confidence hits 2002-2007 historical average

The Canadian Federation of Independent Business’s Business Barometer Index has gone up for the second month in a row, and even if it’s supposed to take three occurrences to start an official trend, this is a big deal. The index has achieved a feat and reached a level not seen in a while.

The last time the index rose two months in a row was the summer of 2008. What’s more, according to Ted Mallett, the CFIB’s vice president of research and chief economist, “The index level is back to its previous cyclical peak reached last September and also to its 2002-2007 historical average.”

Finally, business owners’ confidence improved in 10 out of 14 categories, and “[t]he February results correspond to roughly 3 per cent real GDP growth.”

Obviously, these are all moves in the right direction. That last improvement, in particular, is impressive given the short period of time during which it took place.

Hopefully things will continue to pick up as the weather improves and people spend more time out of the house. The Business Barometer isn’t too far away from getting back up to its all-time high and then setting some new records.

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    Easter Forecast Points To Increased Spending

    Doug Caverly's pictureBy Doug Caverly – Tue, 03/16/2010 -

    NRF expects sales to head up this year

    It looks like small businesses are going to benefit from two “up” holidays in a row.  Less than a week after the National Retail Federation predicted that people will spend more on St. Patrick’s day this year than last, the organization issued another forecast suggesting that Easter will also be more profitable.

    National Retail  FederationThe NRF (along with BIGresearch, which actually conducted the study by interviewing about 8,300 people) has the average American on record as spending $116.59 to celebrate Easter last year.  Which is a rather impressive amount.

    This year, though, the NRF believes the average consumer will spend $118.60, or roughly 1.7 percent more.  And most of this money should be spent on food, clothing, gifts, candy, flowers, decorations, and greeting cards (with those categories listed in order of most money spent to least).

    Tracy Mullin, the president and CEO of the NRF, explained the increase in a statement by saying, “With signs of spring popping up everywhere, shoppers are eager to get their hands on bright, colorful Easter merchandise.  Warmer weather and special holiday promotions are the perfect mix to get people out of their homes and into stores as spring approaches.”

    Then here’s one more thing to keep in mind as Easter approaches: young people, and not older folks with bigger incomes and grandkids to spoil, are supposed to be the biggest purchasers.  The NRF thinks 25-34-year-olds will shell out $136.79, while 18-24-year-olds will spend $125.85.

    Phil Rist, an executive vice president at BIGresearch, said in response to these somewhat surprising findings, “Often living in another state because of college or a career, young adults feel compelled to bring candy for the little ones and even greeting cards for others when visiting for Easter.”

    Hopefully these trends will lead to all small businesses having a good Easter.  Of course, small businesses that take the NRF’s specific predictions into account when prepping for the holiday may fare even better than average.


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      How Smartly Do You Work?

      By Stacy Karacostas – Thu, 01/21/2010 -

      Have you ever noticed how some small business owners get more done than others? I’m talking about increased productivity that isn’t because of working longer days or multi-tasking to madness, either. You know…those incredible people who have successful businesses and still manage to have a life.

      What I’ve learned is that it’s not about how hard they work…It’s about how smartly they work.

      There was a time when I was new to running my own business and “working smarter” seemed so pie-in-the-sky. It was something other people somehow pulled off. I wasn’t even convinced it was real. I didn’t have time to stop and think about better managing my time because I was working too hard!

      Somehow, it was clear that other entrepreneurs were better at doing things that truly created more efficiency for themselves—in how they completed tasks, achieved goals, arranged their day, got found by potential clients, and so on. So I’ve spent the past eight years learning how to make this happen for myself and my clients.

      The thing is, it’s clear working smarter doesn’t come naturally to everyone. Most small business owners have to, well, work at it a bit. But it’s worth the extra effort up front to get more done with less effort later.

      Wanna be one of those folks who works smarter instead of harder? Here are some simple tips for you to get started…

      • For starters, let’s take multi-tasking. Believe it or not, studies now show that multi-tasking doesn’t increase productivity or speed up the completion time for each task. (Just type ‘Juggling Too Many Tasks Could Make You Stupid’ into a search engine for a great Wall Street Journal article by author Sue Shellenbarger. Or go here: http://208.144.115.170/columnists/workfamily/20030228-workfamily.html)Americans are a distracted bunch, and we have so many more ways now that things compete for our attention. You know the drill—the phone, email, Facebook. You may have a huge sense of busy-ness, but don’t mistake it for true productivity. Basically it ultimately creates a kind of stress response and messes with your memory so you get less accomplished and everything takes more time.Stop doing it and work on just one task at a time until it’s done.
      • Create more hours in a day by staying focused. Be committed to setting aside time for doing work with your phone and email turned off, and your office door closed.Few things come in via email or voice mail (remember that handy tool?) that must be handled right now. A few hours or a day later is typically just fine. So actually schedule time in your day to focus on a project, or time in your week or month to sit in a quiet space and do some planning.
      • Stop reinventing the wheel! While for most people the idea of sitting down and creating process docs for the different tasks you do seems like about as much fun as a trip to the orthodontist, it needs to be done—even if you’re a solopreneur.Otherwise you end up wasting time figuring out how to do the same thing each time and your efforts lack consistency. Plus, when you are ready to hire an employee or outsource tasks, those process docs are worth more than their weight in gold.
      • Get it off your plate! This is one of my favorite solutions for getting more done with less effort…If you’re really strapped for time, or you have tasks you just can’t stomach doing or are bad at, hire a Virtual Assistant (VA).They can do everything from answering email to setting up social networking profiles to building blogs, creating newsletters, sending holiday cards, and more. Some even specialize in online marketing. I hired my first VA 4 years ago and it’s been the best thing I’ve ever done for my business.
      • Turn it down! Not the volume—rather, be more choosy about work that you take on. Juggling as many projects as you can doesn’t inherently mean more success for your small business.Especially in the beginning, it’s easy to take on any and every client or job that comes your way because you need the cash. But it might well end up being just more tiring to take on more work rather than adding significantly to your bottom line. Plus, you want to make sure your more lucrative projects/clients don’t suffer from your diluted attention and efforts.
      • Make it happen, even on a budget. If you know you need to put more energy into marketing but you keep putting it because of funds there are some very inexpensive low-hanging fruit to go for.Try putting out press releases online, using social networking sites and doing email marketing. And when is the last time you spruced up your personal bio? Or committed to attending live networking meetings? If you have stuff to say that potential clients might want to hear—have you thought about blogging? You can create a blog for free on WordPress!

      If you need more info on these marketing ideas, or other ways to manage your time and grow your business more easily, I’ve got another terrific resource for you…

      While today is the last day of my f*r*e*e* Small Business Success Telesummit 2010, you can still join in for the final four experts. And you can also grab a copy of the audios and/or transcripts so you can listen in on all 12 hour long calls.

      Five of the presentations cover information exclusively devoted to helping you run your business more efficiently and drive up your productivity. The other seven are devoted to things you could be doing to spread the word about your business, products or services and help more potential customers find out about what you have to offer.

      Here’s a list of all the speakers that joined me for the three-day event:

      Social media expert Nancy Marmolejo, PR experts Shannon Cherry, Diane Ennen and Nancy Juetten “The Bio Whisperer”, Time Liberator Susan Lannis, The Tips Booklet Queen Paulette Ensign, Savvy Networker Zita Gustin, Results Coach Leanne Hoagland-Smith, Founder of the HUBstreet social networking site Nancy Fox, New Business Mentor Leah Grant, Internet Marketing Strategist Erin Blaskie, and Practical Marketing Expert Stacy Karacostas. Plus, everyone receives a bonus ebook packed with helpful articles from these experts.

      With the help of these amazing experts, you can get the info you need to transform your business without traveling anywhere!

      Phone lines for the calls are limited, so get all the deets and nab your spot right away by going here:

      http://www.smallbusinesssuccesstelesummit.com/

      If you’ve already missed the live event (the last call ends at 2:30 PST Thursday, January 21st), you can get your very own copies of the recorded audios and/or transcripts right here. Or, if you register on the live events page listed above, you’ll be taken to a page with all the purchasing options.

      http://www.smallbusinesssuccesstelesummit.com/sales.html#up

      Do you have other tips and tricks you use to get more done with less effort? If so, I’d love to know about them. Please do share by leaving a comment…



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