The Business IDEA
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The Business IDEA
Your Source for the Best and Newest Thinking in Business
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Your new business is finally up and running and you feel like a kid in a candy store. You are happy, you have all your ducks in a row, and you feel ready for that first sale. Here are five things that you need to know in order to be successful in your business now and in the future.
It's About the Experience Businesses thrive on customers having a great experience when buying a product or service, so it's up to you to make sure that this happens for the people that you serve. Make sure that your customer's journey is a pleasant one every single step of the way. Providing a good experience for customers is important for future growth and success because these customers are going to be able to speak well of their experience with your business. They're also the customers most likely to come back repeatedly. The way you approach customers and communicate your brand can greatly impact your success. If you’re struggling with business growth, then you may want to examine your marketing strategy. Ultimately, customer experience is what will drive your business forward. Reputation is Important Being able to manage your online reputation is important if you want to have a successful business. Once you've established a solid customer base, ask these customers to review you on outlets like Google and Yelp. Also, you can politely invite them to send in video testimonials of their experiences with your business, which you can use for marketing on your website. By utilizing customer testimonials to manage your reputation, you'll be able to gain new customers faster because you have built a trust factor with your audience. If you're concerned about asking your customers for testimonials, don't be. Your customers will love to be involved in the process of your success and offer you their perspective on their positive experience in working with you. Your Mindset Holds the Key Some people say that the key to success is knowing how to make a sale. The true key to success is in your mindset. Your mindset holds the key to your ability to be able to market yourself well to your target audience. If you have limiting beliefs on how many sales per month you can make or how many clients you can work with in one year, then you'll see that come to fruition in your business. Train your mindset so that you're setting yourself up for success and eliminating limiting beliefs from the get-go. Your Business Shouldn’t Be a Replica of Someone Else’s It's very easy when you're starting out in business to play the comparison game. Especially if your business is a year old or younger. There may be people who have been in business at the same time as you and you see them and feel like they're crushing it with their sales goals and client testimonials and pretty photo shoots. The truth is, your business shouldn't be a replica of anybody else's business. Your business is a living, breathing entity of its own that is specific to you and how you operate and who you serve. Don’t try to copy someone else. Be at Peace with Failure While you may feel like failure is one of the worst things that can happen in your new business, that could not be further from the truth. Use failure as a stepping stone to learn what you need to know to run your business successfully. Everything in your business that doesn't work out the way you expected it to has a solution on the other side of it. By using these five things as guideposts in your business, you're setting yourself up for success and less frustration when failure hits. Want more ideas to help you succeed in business? Read all about The Business IDEA today!
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If your marketing strategy is older than three years, it could be time for an update. Moreover, if you find your messaging is not getting the results you want, maybe it's time to go back to basics. If you work on the fundamentals of a good marketing strategy, then the results should fall in place.
Revisit Your Audience Personas It's vital for your company to understand the likes and dislikes, backgrounds, age groups, political affiliations, dreams, and aspirations of your ideal audience persona. Consider the type of audience that would be the best match for your product and/or service. If you haven't evaluated your audience personas in years, now is the time for an overhaul — especially if your products and services have changed over time. If something isn't "clicking" with your marketing, this may be the step you need to get back on track. You can then use your updated audience personas to get back in sync with their needs and wants. Sundance explains that all this information is vital to understanding how to interact meaningfully with your target market. Understand Your Product and Service For this step, perhaps you should take another look at analyzing your product and service. What market need does it meet? How is it unique from similar products and services? What sets it apart from your competitors? No one can market your product and service better than your company can. While you do need customer advocates, the basics of product marketing starts with your understanding. If sales have stalled and you feel like you don't know where to take your marketing campaign, then it may be time for a refresh. Digital Marketing Training Group recommends participating in ongoing training to stay up to date on the latest trends and standards in the digital marketing industry. You can then apply your knowledge in furthering your marketing goals. Get to Know Your Competition When getting back to marketing basics, your company might be so focused on your product line and customers that you forget any other obstacles that might be lurking around. MarketResearch.com warns that one such hurdle in your quest for market domination would be your competitors. It is critical to get to know your competition. You can learn from their mistakes and avoid similar pitfalls. You can also gain a better understanding of why your target audience might purchase from them instead of your company. In addition, you might learn from their successes and apply some of their winning strategies. Not to mention, you can study their segment of the marketplace to find any opportunities to sell more of your products and services. Embrace Strategic Partnerships In order to grow, some companies need to find allies. For instance, if you look at the history of McDonald's, Ray Kroc partnered with local bakeries throughout the nation to ensure a consistent baked product for every McDonald's franchise. As far as your company stands, think of a partnership that can work in a mutually beneficial way. If your company sells lipstick, you might partner with an eye shadow brand to sell kits instead of individual pieces. In terms of marketing, you and your partner benefit from exposure to new consumers. There you have it, the basics of marketing. At times, going back to basics is all it takes to get your company moving in a forward direction once more.
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Digitally Transforming Your Business
One of the challenges facing small businesses today is trying to deliver the same customer experience as larger competitors. As technology advances and takes on an ever-growing role, small businesses can tap new innovations to better communicate with customers, save money and simplify operations. These tips can help you establish a strategy that can benefit both your business performance and customer experience.Digitally Transforming Your Business
(Family Features) One of the challenges facing small businesses today is trying to deliver the same customer experience as larger competitors. As technology advances and takes on an ever-growing role, small businesses can tap new innovations to better communicate with customers, save money and simplify operations. As small business owners look to transform digitally, they face a number of options, from upgrading their technology to optimize shipping operations and decrease costs to adopting digital marketing tactics to better understand and target their customers. While it can be difficult for a small business that is well-established using analog processes to switch to digital, the key is to start with the final objective in mind; in other words, begin by defining your end goal. Once you’ve determined the desired outcome of digitizing your business, these tips can help you establish a strategy that can benefit both your business performance and customer experience. Reach customers through digital marketing Beyond the content, an effective strategy establishes connective links between all your marketing touchpoints, from email to blog and even to your traditional tactics, such as direct mail and more, all with the goal of boosting credibility and visibility via search engine optimization and foot traffic. Optimize operations through the cloud “The SendPro C-Series is designed to take the guesswork out of shipping and mailing,” said Jason Dies, executive vice president and president, Pitney Bowes SMB Solutions. “These digitally connected sending devices allow users to better manage their sending operations on one platform, providing the confidence that they selected the right carrier and class of service for each expedited envelope and package, track all shipments from one dashboard and provide consolidated visibility and control of postal and carrier expenses. Plus, the open platform allows developers to create new applications specific for the needs of small business owners.” Make decisions based on analytics Use mobile to communicate with customers Find more tips for transforming your business for the digital age at pitneybowes.com/us/digital. 
Elements of a Digital TransformationBefore diving head-first into a digital transformation, consider what aspects are most important to your business. Automation Efficiency Interaction Boost Business Digitally Google G Suite is a cloud-based productivity suite that helps teams communicate, collaborate and get things done from anywhere, and on any device. Yext puts businesses on the map by letting companies manage their digital knowledge in the cloud and sync it to over 100 maps, apps, search engines, GPS systems and social networks, as well as facilitating face-to-face and digital interactions that boost brand awareness, drive foot traffic and increase sales. Promote by Acquisio is an advertising solution that helps businesses get new customers with zero expertise needed by creating tailored ads, providing optimization, on-the-go text notifications for incoming leads and tracking of all recorded incoming calls from ads. Nimble is a simple social sales and marketing CRM that helps companies nurture relationships across email and social networks such as Twitter, Facebook and LinkedIn. DocuSign lets people sign, send and manage documents anytime, anywhere, on any device, replacing traditional methods that require printing, faxing, scanning and overnighting documents. Photo courtesy of Getty Images (two business owners) SOURCE:Pitney Bowes  Customer at food truck (BPT) - The dollar, the euro, the pound, the yen… the currency people use around the world has many different names, but it all shares something in common. Paper forms of currency are out and digital payments are in. The security and convenience of card based electronic payments and digital payments are driving a global shift away from cash. As consumers and merchants around the world become more and more digitally connected this shift will continue to accelerate. All over the world, the shift toward cashless payments is well underway. On the beaches of Cabo San Lucas, taco and tamale vendors are starting to offer their delicious food to customers with the swipe or tap of a card on a mobile phone. In Singapore, consumers can rent bikes, pay for their morning coffee and split their dinner bill without ever needing cash, and in Warsaw, as cashless payments are becoming increasingly accepted, tourists can start to tap and pay their way around the city without carrying cash. Changes abroad, changes at home The United States is seeing similar changes. Cash and checks are on their way out and swiping, dipping, tapping and clicking are filling the void — benefiting consumers and businesses alike. A recent Cashless Cities study from Visa, set to be released later this year, finds that if businesses in the top 100 U.S. cities transitioned from cash to digital payments, those businesses and their cities would experience net benefits of $312 billion per year. Businesses in New York City alone would net $6.8 billion while saving more than 186 million hours in labor. But the benefits of taking checks and cash out of the system do not stop at labor cost efficiencies. They include: * Convenience. Consumers and businesses alike benefit from the speed and convenience of electronic and digital payments. Faster checkout times mean more sales for businesses and more time to spend on the important things in life for consumers. * Security. Accepting cash payments has always placed businesses in a bind; as their revenue increases, so does their risk of falling victim to theft. Transitioning to cashless payment options enhances security and reduces risk for businesses and their customers. * Reduced costs. Cash payments must be counted, stored and transported. There are costs associated with all of these processes. Adopting cashless payments saves businesses time and money. Moving forward to take advantage of cashless opportunities Many businesses across the country are already benefiting from going cashless, but for companies — particularly small businesses that have yet to take the leap — now is the perfect time to make such a change. Visa is announcing The Visa Cashless Challenge, a call to action for small business restaurants, cafés or food truck owners to describe what cashless means for them, their employees and customers. Visa will be awarding up to $500,000 to 50 eligible U.S.-based small business food service owners who commit to joining the 100 percent cashless quest. Business owners can learn more about the challenge and the other benefits of going cashless at www.visa.com/cashless. Complete rules and information will be available on the website on Aug. 15. KEYWORDS
Tips for Easy Holiday Shipping
“We know a lot of care goes into finding the perfect gift during the holiday season and our Certified Packing Experts take the same level of care in packing and shipping each gift so you don’t have to,” said Judy Milner, vice president of operations at The UPS Store. “We take care of the details to make your holidays easy and hassle-free.” Here are five ways you can keep the holidays merry and bright, and experience the excitement of making (and receiving) special deliveries this holiday season.  
For domestic delivery for Christmas by Friday, Dec. 23, ship:
To find a shipping location near you, visit theupsstore.com and find The UPS Store on YouTube for additional holiday tips. Photo courtesy of Getty Images SOURCE:The UPS Store  (BPT) - Think sales numbers trump customer service? Think again. Research shows companies focused on providing a superior experience across the customer journey realized a 20 percent increase in customer satisfaction and 10-15 percent increase in revenue. Furthermore, 45 percent of people will abandon an online transaction if their questions or concerns are not addressed quickly. And perhaps the most shocking of all: It costs six to seven times more to attract a new customer than to retain an existing customer. Given these factors many companies are taking a closer look at their customer retention rates and evaluating the customer experiences they provide. To meet customers on their terms and facilitate employee productivity, it’s critical to invest in new technology. However, not all businesses have the internal IT resources or expertise to efficiently implement technology and effectively manage it on a continuous basis. For these businesses, working with a trusted technology partner provides an easier route to weather the changes and delight customers. Numerous companies have worked with Dell to ensure they don’t have to worry about downtime or system failure. Dell ProSupport Plus, for instance, provides these companies with the highest level of hardware and software support so they can deliver the best experience to their customers. Powered by Dell’s SupportAssist technology, this support program not only helps resolve issues quickly and proactively, but can also prevent issues before they happen through predictive capabilities. This means less effort by IT staff and more peace-of-mind for both the company and their customers. For example, Dell ProSupport Plus with SupportAssist users are able to spend up to 91 percent less time on resolution. Imagine what an IT staff could do when they’re able to shift that time away from maintenance. Another time when a technology provider’s services become critical is when businesses implement new solutions. The continual evolution of technology such as cloud, converged datacenters and big data presents a world of new opportunities — and new challenges. Not only do businesses need to contemplate how to get their new technology up and running quickly, they also need to be able to maintain, refresh and address any issues that arise. To sail over the many potential hurdles, the Dell ProDeploy Enterprise Suite is helping IT managers and business leaders navigate the growing complexity of multiple platforms and risk of transitioning to new technologies while minimizing any downtime, all within the confines of limited resources and budgets. Businesses can rely on Dell experts and partners to lead deployments from basic hardware installation through planning, configuration and complex integrations. Companies using Dell deployment services can reduce IT effort by 91 percent and deploy systems 39 percent faster. With new technology solutions up and running, businesses should be positioned to provide the best customer service possible. However, without a properly trained crew there will be no one to sail the ship or right it when needed. In addition to investing in technology, organizations need to give their IT team the right training and tools to do their job well. Dell has addressed this critical need by introducing training and certification that gives a company’s IT staff access to the same resources as Dell engineers. If the technology powering the business is running smoothly, it’s reflected in effortless and memorable interactions with customers that inspire loyalty and build revenue. Customer service IT services and customer support will continue to evolve as new technologies are developed and customer expectations will continue to rise. By being proactive and partnering with a technology vendor who is intent on staying ahead of the curve, companies can gain an edge against the competition while building an unbreakable brand reputation.
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