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Thanks to Week 368 SOBs

November 3, 2012 by Liz

muddy teal strip A

Successful and Outstanding Bloggers

Let me introduce the bloggers
who have earned this official badge of achievement,

Purple SOB Button Original SOB Button Red SOB Button Purple and Blue SOB Button
and the right to call themselves
Successful Blog SOBs.

I invite them to take a badge home to display on their blogs.

muddy teal strip A

They take the conversation to their readers,
contribute great ideas, challenge us, make us better, and make our businesses stronger.

I thank all of our SOBs for thinking what we say is worth passing on.
Good conversation shared can only improve the blogging community.

Should anyone question this SOB button’s validity, send him or her to me. Thie award carries a “Liz said so” guarantee, is endorsed by Kings of the Hemispheres, Martin and Michael, and is backed by my brothers, Angelo and Pasquale.

deep purple strip

Want to become an SOB?

If you’re an SO-Wanna-B, you can see the whole list of SOBs and learn how to be one by visiting the SOB Hall of Fame– A-Z Directory . Click the link or visit the What IS an SOB?! page in the sidebar.

–ME “Liz” Strauss

Filed Under: SOB Business, Successful Blog Tagged With: bc, blog-promotion, LinkedIn, small business, SOB-Directory, SOB-Hall-of-Fame, Successful and Outstanding Blogs

3 Ways Successful Women Entrepreneurs Apply Work Ethic

November 2, 2012 by Guest Author

by
Katie Donnelly

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Women Entrepreneurs and Work Ethic

There’s a lot we can learn from successful women entrepreneurs. Although there are many routes toward becoming a successful business woman and supporting workplace diversity, one thing all top entrepreneurs have in common: a tireless work ethic. As Margaret Thatcher once said, “I do not know anyone who has got to the top without hard work. That is the recipe. It will not always get you to the top, but should get you pretty near.”

3 Ways Successful Women Entrepreneurs Apply Work Ethic

Here are 3 lessons we can all learn from successful woman entrepreneurs who know how to apply a strong work ethic to achieve their goals.

Take initiative and follow through.

A 2011 Zenger Folkman study that surveyed 7,280 leaders across a wide range of successful organizations found that women excel in many leadership categories, outperforming men much of the time. In fact, the two categories in which women outscored men most dramatically were taking initiative and driving for results. It should come as no surprise that taking initiative pays off. Women entrepreneurs do not wait around for a lucky break to come to them. They identify opportunities, take initiative and follow through to achieve their goals.

Do whatever it takes.

To make it to the top, you will have to put in long hours. Yahoo CEO Marissa Mayer used to put in 130-hour workweeks at Google, including regular all-nighters in which she slept under her desk. She managed to avoid burnout by being invested in — and keeping a positive attitude toward — her work. As she told Joseph Walker, “I don’t really believe in burnout. A lot of people work really hard for decades and decades, like Winston Churchill and Einstein . . . Burnout is about resentment. It’s about knowing what matters to you so much that if you don’t get it that you’re resentful.”

In addition to putting in long hours, sometimes entrepreneurs have to be willing to do work that no one else wants to do. Especially when you are first starting out, you will probably have to put in some grunt work before you can move up.

Practice self-development.

Finally, always be willing to practice self-development: women who are always looking for ways to improve have an advantage in business. The Zenger Folkman study also found that women were more likely than men to seek out personal and professional development. Katy Cowan, who runs the PR agency Boomerang and founded the online community Creative Boom, identifies a “willingness to learn” as one of the “top ten traits of successful, creative businesswomen.” She writes:

You cannot rest on your laurels when you run your own business. The creative industries are always changing, so you will constantly need to keep up and innovate. Successful female entrepreneurs know this and will work hard to learn and improve all the time. They’ll read books, go to workshops and be willing to learn from others.

There is no secret recipe to becoming a successful female entrepreneur. However, this combination of working hard, putting in the time and always being willing to learn something new has propelled plenty of women to the top.

Author’s Bio:
Katie Donnelly is a freelance writer in Philadelphia, who wrote this post on behalf of Navex Global, a leading provider in ethics and diversity training in the workplace.

Thank you for adding to the conversation!

Buy the Insider’s Guide to Online Conversation.

Filed Under: management, Motivation, Successful Blog Tagged With: bc, LinkedIn, small business

Know lots of things

November 1, 2012 by Rosemary

by
Rosemary O’Neill

Know lots of things

Intellectual curiosity is a hugely valuable asset for entrepreneurs and small business owners alike. Stoking the fires of learning should be a lifelong, never-ending quest, and the input to your brain should be much more than just a steady stream of blog posts and Pinterest photos.

Last night, I was working on the NYTimes crossword puzzle (on my iPad—I’ve finally given up my beloved paper copy) when my 8 year old son came over and asked me what I was doing.

As I was explaining how crossword puzzles work, I realized that the fundamental skill for doing a crossword is to know a little bit about a lot of things. Random opera characters, book titles, TV shows from the 50’s, words from your Barron’s vocabulary tests in 8th grade, all of these things lay the groundwork for being able to solve the puzzle.

The conversation with my son left me wondering whether, in this age of immersion in blogs, rapid-fire videos, and Tweets, we are going to lose the ability to do the New York Times crossword.

Are we going to lose our broad curiosity about things that don’t relate to Facebook or smartphones? Does that also hinder our ability to patiently noodle through complex problems with multiple layers of connection?

Our challenge in 2012 is finding the long, difficult knowledge rather than the quick hit. Let’s make sure that we still listen to a full length symphony, read War and Peace, visit the Louvre. And let’s not stopping doing the Sunday New York Times crossword puzzle. In ink.

Author’s Bio: Rosemary O’Neill is an insightful spirit who works for social strata — a top ten company to work for on the Internet . Check out the Social Strata blog. You can find Rosemary on Google+ and on Twitter as @rhogroupee

Thank you, Rosemary!

You’re irresistible!

ME “Liz” Strauss

Buy the Insider’s Guide to Online Conversation.

Filed Under: management, Successful Blog Tagged With: bc, LinkedIn, small business

How Internet Business Changes with Video Chat

October 31, 2012 by Guest Author

by
Jason Phillips

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What Offline Businesses Know

Small businesses have always been built on customer relationships. Strong relationships with your customers mean stronger stability for your business. Mom and pop stores on main street have lived off this truism for years and they continue to do so because so called brick and mortar businesses deal with customers in person every day. In many ways, customers are their business.

The Limits of Internet, Email, and Text

What internet businesses have forgotten, however, is that dealing with customers is their business too. That means that whatever Internet business you are in, dealing with customers is what you are all about.

Internet businesses, for all of their convenience and stocking capability, have always had been at a disadvantage from local brick and mortar businesses due to the lack of credible customer relationships. When a customer shops at a local business, they have the advantage of asking for a sales associate from behind the counter when they have a question or concern and a real person will show up and help them out. In addition, the customer and sales associate can build a solid relationship with each other over time. This means that if the customer is familiar with Jane because she was kind and helpful last week, he can come in the next week with his concern and ask for Jane again with a good reason to believe he will receive the same quality of service.

This kind of long term personal relationship model breaks down over the impersonal Internet.

Email and text chat have been the mainstay of customer support for most online businesses, but customers can’t connect to a user name the way they can connect to a face. For all the customer knows, a different representative could be using the same name each time and the customer would never know.

There is something about face to face communication that builds a connection between people that email and text can never do. While brick and mortar may have had the monopoly on this face to face personal touch to customer service in the past, video chat is quickly evening the playing field.

How Internet Business Changes with Video Chat

Have you ever noticed how a little baby will stare at your face for minutes on end while you hold them? This early staring at people’s faces is a developmental stage that is vital to all humans. This trains us to distinguish the thousands of different facial expressions and subtle emotions that are communicated through face to face communication. Text chat and email certainly can’t come close to this level of communication. And while voice communication provides the addition of voice inflection, it still comes nowhere close to the depth of communication achieved by face to face communication.

This is why video chat is vital to your online company’s customer service strategy.

The text based, impersonal and anonymous nature of the internet is changing under us with the advent of video chat. The internet is about to become a much warmer place because of the depth of communication now available between people.

The bottom line is that video chat is a great thing for your online business because it begins closing the gap between brick and mortar customer service and online customer service.

Make no mistake; this is going to be a challenge for some of us to get used to. After years of sitting, and maybe even hiding behind email and text, we are going to have to get back to the basics of good old person to person communication. We need to relearn good eye contact, good clear speaking and the elimination of all those “ums” and “ahs”.

Author’s Bio:
Jason Phillips shared this post. Jason is a freelance writer who enjoys the challenges of creativity and attention to detail. His articles on webcam chat are really appreciated by his readers. Jason always tries to provide unique and interesting content in his articles.

Thank you for adding to the conversation!

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Filed Under: Customer Think, Successful Blog Tagged With: bc, business video chat, customer-relationships, Internet business, LinkedIn, small business

4 Ways to Increase Average Order Value of The Shopping Cart

October 30, 2012 by Guest Author

by
Colin MacDougal

With algorithmic changes across the search engines becoming nearly a weekly occurrence, it’s been a perpetual hell for businesses this past year, especially when it comes to getting targeted customers to buy from them. When you’ve lost your organically grown traffic resources due to faulty content or linking incidents, the creative side of increasing the average order value needs to come out to play, and level the losses which occurred because of Pandas or Penguins scolding your content. Here we’ve taken into account that normal traffic flows have slowed, whacking part of your organic sales, and have provided you with some creative ways to increase the net profit without increasing the COGS (cost of goods sold). By working on ways to increase order values, you’ll improve overall sales once your organic placement has been successfully arbitrated by Google upon completion of content overhauling or other improvements, which previously prohibited natural sales without upselling.

Ship ‘Em Free

On the surface, one may believe that offering free shipping would decrease overall profit margins; you’d be happy to know it’s actually the opposite. Temporal sales can increase to epic proportions if you offer free shipping codes across your sales pages, social media drives and search engine marketing ads. Consumers have been known to ditch $1,100 shopping carts simply because the cost to ship goods floored them. With ingenuity and logical pricing, you can leverage free shipping offers in numerous ways, including:

  • Time-sensitive offers: Historically works well with seasonal shopping items which you wish to unload. Offer free shipping on certain items you wish to clear out of your warehouse to make room for the next shipment or season.
  • Flat rates: Provided your customer meets a certain purchase threshold, offer flat-rate shipping costs which are slightly less than you’d normally charge. This increases shopping cart sizes and allows you to eat shipping costs you’ll never miss.
  • Free shipping IF: One of the greatest, and easiest, shipping methods to increase AOV is forcing the overall dollar amount spent to rise where you want it, in which then you’ll slap free shipp.ing on those items. Works well with small items which can be slammed into one flat-rate box via USPS
  • Eligible products ship free: Here you can concentrate your sales pushes on higher margin items by offering free shipping if “x, y or z” is purchased. You can do the same with items which go well together (free shipping on coffee and coffee pots, etc.).

The costs of shipping goods become arbitrary when you push the overall consumer spend to more comfortable thresholds, allowing the profit margin to exceed shipping rates.

Up-And-Cross Selling

Ever shopped for some service or product and seen that to get what you really want, the next package higher needs to be purchased? Sure, it may cost $10 extra, but the value merited the increase expenditure. The keys to making an upselling or cross selling campaign happen effectively is clearly identifying items which can be placed in higher categories along with accessories to inflate the worth to your customers. Once clarity is witnessed in what each customer will receive, through a warranty, extra customer support, or free music downloads, the upgraded purchase is normally made. Inhibitors to sales that aren’t made are directly related to the lack of value in the next package or product above the one that is desired. Purchases that increase self-efficacy through larger purchases are also historically effective, especially when customer support is adequate enough. There are definitely some don’ts that come with suggestive upgrading, which include:

  • Suggesting products outside of customer’s chosen parameters;
  • Black boxing items which would have little companion use with products in shopping cart;
  • Offering extended warranties from outside companies which, inevitably, mean the customer must spend more money elsewhere.

The goal of product co-suggestion and upselling is to provide increases in value and tangible receivables; if companies suggest unrelated or non-plausible items, the customer will more than likely ditch the cart and move onto the next vendor or service provider.

Find Strength In Volume Priced Items

Another highly effective AOV tool at your disposal is offering volume priced items in groups that appeal to customers based on historical visitor interests. This is generally accomplished by offering two similar items, grouped together, and tossing in the third one for free, or something similar in nature. You’ll still profit from all items, regardless of how you accomplish the volume pricing model. Other useful ideas to propagate sales though volume pricing include:

  • Kitting: This simply means putting several items together which increases value and can be sold with slight discounts; when broken apart, the customer can see they are getting value.
  • Bundling: This usually takes a kit and throws in accessories to increase the usefulness of the kit. This could be extra clasps for necklaces, creamer packets with coffee, etc.

Volume priced items can still proffer excellent AOV during times when organic search traffic has severely halted natural sales.

Offering Free Gifts

This, by far, is the best way to introduce up and coming product or service innovations: give sneak peeks or free goodie bags when “x” amount of dollars are spent. You accomplish several key business ideologies simultaneously: first, you are selling and profiting off regular items and second, you are offering your new product lines a showcasing before new customer eyes, which can bring them back for more purchases, or even bring new buyers to your storefront. You can also give away free eBooks with site subscriptions, giftcards with larger purchases and more; the possibilities are nearly endless when you seek innovative free gift giveaways as the means necessary to increase AOV. The free gifts could have been ‘throw-away’ items that sales representatives left for you to sample; they may even be eBooks you’ve been dying to give away.

Multichannel Lead Capturing

Now that you have multitudes of ideas to begin your quest for AOV leveraging, you need to harness the power of social suggestion to push these offers along. You can accomplish this through Wildfire contest application integration, Tweets, Facebook fan page pushes or anything you feel would spread the word about your freebies, gifts or shipping values. Once it becomes viral—if the deal is excellent, it will—social media will naturally circumvent your offer and increase your AOV immeasurably.

Test Them All First

Since so many different methods work for different brands and business models, you may find it easier to test various AOV methods on smaller scales before throwing down the gauntlet in an all-out media frenzy. Test which offers seem to work better than others, especially during periods when you are relying on anti-search traffic to appear on your website. You aren’t losing any more or less revenue by testing various offers since organic traffic has slowed down. While you are waiting for solvency of these issues, take the time to put up some great deals that would attract a social following. Once several dozen people have purchased items and left testimonials, they’ll naturally share that purchase with others and grow your AOV without the assistance of search engine optimization. Heck, you may be able to slow your aggressive SEM efforts if your deals are consistent, worthwhile and value-packed.

Photo Credit: Flickr

Author’s Bio:
Colin MacDougal works with www.HostPapa.com company serving over 100,000 customers around the world. Since launching in 2006, HostPapa has offered reliable, budget-friendly, easy-to-use web solutions for small to medium-sized businesses. You can find HostPapa at http://www.facebook.com/hostpapa

Thank you for adding to the conversation!

Buy the Insider’s Guide to Online Conversation.

Filed Under: Marketing /Sales / Social Media, Successful Blog Tagged With: bc, LinkedIn, small business

Thanks to Week 367 SOBs

October 27, 2012 by Liz

muddy teal strip A

Successful and Outstanding Bloggers

Let me introduce the bloggers
who have earned this official badge of achievement,

Purple SOB Button Original SOB Button Red SOB Button Purple and Blue SOB Button
and the right to call themselves
Successful Blog SOBs.

I invite them to take a badge home to display on their blogs.

muddy teal strip A

They take the conversation to their readers,
contribute great ideas, challenge us, make us better, and make our businesses stronger.

I thank all of our SOBs for thinking what we say is worth passing on.
Good conversation shared can only improve the blogging community.

Should anyone question this SOB button’s validity, send him or her to me. Thie award carries a “Liz said so” guarantee, is endorsed by Kings of the Hemispheres, Martin and Michael, and is backed by my brothers, Angelo and Pasquale.

deep purple strip

Want to become an SOB?

If you’re an SO-Wanna-B, you can see the whole list of SOBs and learn how to be one by visiting the SOB Hall of Fame– A-Z Directory . Click the link or visit the What IS an SOB?! page in the sidebar.

–ME “Liz” Strauss

Filed Under: SOB Business, Successful Blog Tagged With: bc, blog-promotion, LinkedIn, small business, SOB-Directory, SOB-Hall-of-Fame, Successful and Outstanding Blogs

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