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Social Media Marketing Strategies for 2010

Marketing Sherpa last week released its 2010 Social Media Marketing Benchmark report. Though the full report runs $400, much interesting data can be gleaned from the free executive summary. The report’s authors begin by noting that:

“An important transition in the use of social media for marketing purposes is taking place. A rapidly increasing segment of marketers are gaining the experience required to advance from novice to competent practitioner capable of achieving social marketing objectives and proving ROI…In the past year, marketers have been captivated by the ample hype about Twitter, Facebook, blogs and other social media platforms…(but) they jumped into this new medium thinking tactically about the latest social media platforms they could add to the mix rather than thinking strategically about the objectives they needed to achieve. In the year ahead, we see social marketing maturing to the point where a majority of organizations will be in transition from the trial phase to the strategic phase of the learning curve.”

Among the key findings...

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Leadership Lessons from Undercover Boss: Episode 1

The first episode of CBS’s new reality show “Undercover Boss” aired Sunday night right after the Superbowl. For those of you that may not have heard, each week the show will feature a CEO that goes “undercover” to find out what everyday life is really like within their own companies.

What a perfect opportunity for Great Leadership lessons and advice!

Each week I’ll provide a link to the synopsis and my own leadership lessons learned that I believe would benefit any leader or aspiring leader (so you won’t have to have watched the show).

The first episode didn’t disappoint... read more >>

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Successful People Know How to Manage the Stress in Their Lives

If you want to create the successful life and career that you want and deserve, you need to perform at a high level consistently.  High performance is one of the competencies in my Common Sense Success System.  I discuss it in detail in several of my books: Straight Talk for Success, Star Power, I Want YOU…to Succeed, Your Success GPS and 42 Rules to Jumpstart Your Professional Success

High performers manage their time, life and stress well.  They pay particular attention to their health and well being.  It’s impossible to perform at a consistently high level if you don’t feel healthy and energized.  In this post, I’d like to discuss two issues when it comes to managing your stress and feeling healthy and energized – restoring energy and dealing with headaches.

We all get tired, run down and out of sorts occasionally.  That’s when it’s important to catch your second wind.  Here are my best ideas for getting your second...

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Do You Need a Consultant, or a Business Coach?

What is the difference between a business coach and a consultant?

A consultant completes projects for you based on their own technical expertise. Often, a consultant will provide suggestions and direction for what needs to be fixed, however, rarely will they help the business leader actually implement the fix.

A business coach guides you in growing your business:
  • Business coaches provide business leaders with awareness, education, and accountability through regularly scheduled coaching sessions and other proven, best-practices business performance tools.
  • Instead of getting paid for billable hours...
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Still Just Surviving

The NFIB Index of Small Business Optimism for January finds that optimism has clearly stalled for small business owners.
 
"Small business owners entered 2010 the same way they left 2009, depressed," said William Dunkelberg, NFIB chief economist. "The biggest problem continues to be a shortage of customers."

The highlights:

  • Employment --Owners reported workforce reductions that average .52 workers per firm, basically unchanged for the past several months.
  • Capital Spending --the frequency of reported capital outlays over the past six months rose three points to 47 percent of all firms, an improvement from December's record-low reading, but historically very weak. 
  • Inventories and Sales --Small business owners continued to liquidate inventories and weak sales trends gave little reason to order new stocks. 
  • Earnings -- In a word...
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How do you want to lead your life?

I had a very interesting coaching conversation the other day with a bright young woman. We were talking about her desire to expand her business and play bigger in the world.

(And don’t worry, I asked her permission to tell this story. And no, that is not her picture, it is a stock photo :) )

When I asked what would happen if she started to put herself out in the world in a bigger way by offering more programs and connecting with more people, she got kind of quiet. I asked her what it would mean to her life if she grew her business.  This is what she said:

“I would have to be out there with people all the time and wouldn’t be able to spend days at home re-energizing.” (she is an introvert according to the Meyers-Briggs, which means she needs time alone to re-charge her battery)

“I would ramp up my business, then if I decided to have kids, it would be hard to give that up so I could focus on being a mom.”

“I would have to have all the answers and I am not sure I do.”

I listened to her, and realized that she had...

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4 Tips for Using Smart Pricing to Increase Online Sales


Four Tips The topic of increasing online sales through conversion rate optimization has been discussed in length recently and rightfully so. More and more online stores are looking at conversion rate optimization as a means to increase online sales, alongside traditional means such as increasing traffic volumes.

Four Smart Pricing Tips to Increase Online Sales

One area which is often overlooked, is using smart product pricing as part of the conversion rate optimization process.

1. Show The Customer How Much Can Be Saved

Whether or not your website has the newest features or hasn’t been updated for some time, at the end of the day customers are looking to save money. They will often compare your prices vs the prices of their local store, so some savings has to be reflected and visible shown. Products will often come with an RRP or suggested list prices. Visibly show this price and your price as it’s a very strong pricing message. My favorite way to display this message is RRP $$ Our price $$ (% of saving or you save $$).

2. Waver Shipping Costs

Excessive shipping costs will...

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Customers Are Available for Everyone, at Any Time

You’re a sales genius. They love you; they trust you; and some of them keep on coming back for more. However, you can very suddenly go from Hero to Zero if you don’t keep your sales figures up to scratch. As a sales genius, you’ll be working hard to have deals lined up for weeks in advance so that you’re not enslaved by what has been referred to as “the Curse of a Sales Job”.

Working month to month, just treading water in the hopes of staying afloat, does not make you a super-sales-hero. You need to plan ahead – take the long-term view and line up those deals to ensure you maintain your status. This is what makes you great – and able to achieve your fullest potential. Again, this is hard work and dedication – but it is fueled by your passion for selling and your dream to achieve all that you can.

You must realize that customers are available for everyone, at any time and at any...

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5 Things Avatar Can Teach You About Development

Avatar is a world-wide phenomenon and is currently the top grossing movie of all time*. How can you learn from its success and apply it to your own projects (even if they aren’t billion dollar movies).

  1. avatarTechnology Matters. James Cameron first wrote Avatar in 1994, but he ended up tabling it until 2005 because he felt the technology wasn’t there yet. Figure out what your idea needs and how you can make it happen. If your current idea won’t work well, put it on hold and work on something else.
  2. Love Your Idea. This movie finally came to fruition 15 years after Cameron’s initial idea. He didn’t just forget about it, he waited for his moment and made it happen. And now he’s very rich (er, richer).
  3. Get Fans, Not Just Viewers(/Users). Avatar was so successful because you didn’t just go and think “good movie” and go to sleep. You wanted to tell everyone you knew about it. After watching this movie I immediately started telling my family and friends they had to see it. Now.
  4. A Little Controversy is Good. Avatar’s a commentary on the war in Iraq. And our treatment of...
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Back to the Internet Taxation Future

Several days ago, I received an email containing the text of an article by Eleanor Roberts, Main St. Needs Tax Loophole Closed. It was suggested that I take a look at the information on a web site that supports the same points that were made in the article, and makes even more errors in analysis, such as quoting politicians who conflate the sales tax and the use tax.

According to Ms Roberts, Massachusetts, admittedly in dire need of tax revenue, is collecting less tax than it otherwise could reach because “online-only businesses do not have to collect sales tax.” Several questions came to mind. First, is this an assertion with respect to Massachusetts or is it an assertion generally? Second, is this a situation that exists because Massachusetts law does not impose a sales tax obligation on online businesses, or because Massachusetts revenue officials aren’t enforcing existing law?

Under Massachusetts Code... read more >>
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Establish Trust in Your Brand Online

Trust is a key factor in any customer’s purchase decision. PR company Edelman have recently released their 2010 Trust Barometer which highlights that we are now less trusting of business than we have ever been. Within this context we need to try even harder to instill confidence in our online purchase processes.

image courtesy of Jean-Francois Chenier CC http://www.flickr.com/photos/jfchenier/428825569/

Here is a list of 20 things you can do to in order to reassure your customers and online:

  1. Third-part seals or certificates, such as the Verisign logo, are important in reassuring customers that any data input is securely protected by a recognised independent vendor. Make sure that the seals are visible, clickable and present from early on in the sales process.
  2. Make sure that personal data is visibly submitted securely using HTTPS...
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Cheers to SMB’s Who Are Getting the Research Message

I have spoken here at Frank Thinking about how it seems that SMB’s just don’t get it when it comes to Internet marketing and social media. Too much chasing rabbits and too little chasing reality.

Well, I am real happy to say that I am seeing a shift. I am not ready to say that all SMB’s get it because that would not be realistic. I am seeing, however, more businesses that are willing to talk the language of planning as it relates to the Internet. I have talked to many small businesses as of late who understand that SMB’s absolutely need to do their Internet marketing homework before they dive into the online marketing game.

Maybe there is a sense of optimism but I don’t think that...

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She Blogs She Blogs: Growing Small and Midsized Businesses... A Series

The mission: to interview growing small and midsized businesses this year as part of a series

The plan: to glean insights specifically from women business leaders which will not only be really exciting to share, but will start to crystalize a picture of how 2010 will take shape from a business perspective. 

The questions: (samples)

1) What do you do?

2) How will your business change this year?

3) What advice can you give other business leaders especially women who are looking to learn from your success?

In so doing, I expect to share insight into the way the business world is changing for small and midsized businesses and the way in which women business leaders can rise to the occasion and capitalize on the opportunities, best practices, and advice from other business leaders. 

The business:

For the first of our interviews, we are delighted to have Mary Lou Jepsen, entrepreneur extraordinaire, one of TIME Magazine's Top 100 Most Influential people in 2008, and currently, founder of a fascinating global company which has offices in the US – Silicon Valley - and Taipei, Taiwan, called Pixel Qi.  Pixel Qi designs and manufactures innovative LCD ...

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7 Tax Tips for Small Business

Tax Tips for Small Business - Business Management ArticlesSmall businesses have an especially hard time when it comes to taxes. Here are seven tips that will help keep you focused and could help save you money.

1. Deductions – Make the Most of Them

While reviewing your expenditures, remember that ‘ordinary and necessary’ business expenses aren’t just equipment and rent. Business losses can be deducted from the business owner’s personal income taxes. In addition, if you are on a business and pleasure trip, the transportation costs are deductible if you spend more than 50% of your time doing business. Check with your accountant to find out if you are making the most of your deductions.

2. Check out Tax Credits

There are a variety of valuable tax credits available that can reduce your tax liability. These tax credits include Employer Social Security Credit, Disabled Access Credit, Work Opportunity Credit, Research Credit, Investment Credit, and more. Ask your accountant what credits are available for your business.

3. Quarterly Estimated Tax

If your business has a tax bill of more than $500, you should be paying quarterly estimated taxes or you may be hit with IRS penalties which can severely impact your business’s cash flow.

4. ...

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Google Local Business: How to get your business to appear at the top of the local search engine results at no cost

Last year I recorded and published a podcast about using the Google.com Local Business Centre to list your business and enhance your online visibility using this free tool.

I was recently explaining it to my client – and decided to create a short video tutorial to explain the benefits and how to get started. And I thought I would also share it here.

Your business can optimize your listing in Google Local for the key words you want to be found for when people are searching for services and products that you offer in your town or city.

In this video I cover...

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