Business Education

How to Use Social Media to Promote Your Business

Social media can really become a workplace problem. And, it’s always a good idea to have an effective social media employee policy. But, it is also one of the most powerful marketing tools business have at their disposal. It’s free. It can potentially reach thousands to tens of thousands of people. Plus, it’s very easy to use. Well, that’s not always the case because some businesses actually don’t quite know how to use it correctly.

Why Social Media is an Important Business Tool

Social media is an important business marketing tool because it’s part of our day-to-day lives. The vast majority of consumers are on at least one or two platforms. Therefore, the exposure is far and wide. It’s not just about branding and marketing outright, either. Social media offers customers yet another contact and engagement point.

Customers should know you are serious about promoting your company, about announcing when there is a new milestone, about company news that might make them want to buy a product, not just laugh at a video. They need to see effort, not occasional hits. —Inc.com

There are plenty of instances where companies have used social media to their advantages. (Of course, there are plenty of examples where companies have publicly dropped the ball.) But, more often, social media is an avenue to build a following. The more followers, the more interest and sales a business receives.

How to Use Social Media to Promote Your Business

To really tap into the power of social media, you should know some basic ground rules. If you’re going to make it work for you, it’s important to understand how to go about it. Otherwise, you’ll simply be wasting your time. Here are some helpful tips for how to use social media to promote your business:

Make all profiles uniform. Most businesses set-up more than one social media account. Facebook, Twitter, and Instagram are among the most popular. Whatever platforms fit your business, they should all be uniform. In other words, present the same “face.” The same profile picture, the same bio or about, and so on. This provides a seamless experience and avoids confusing people.
Provide value. Whatever you share, it should have some sort of value. Be it advice or just good for a laugh. And, you should always use the 1-in-7 rule — one post overtly promotes your business, the other six provide valuable information.
Showcase your expertise. It’s always a good idea to periodically share insider information. (No, not the kind that goes against insider trading rules.) Rather, the kind of information the average person does not know or know much about.
Ask questions that beg answers. The whole point of social media marketing for business is to get users to engage. So, ask questions that are conversation starters. And, when people respond, be sure to interact.
Use images to your advantage. It’s a well known fact that posts with images gain a whole lot more attention than text-only posts. Use interesting, mood-evoking images for the best results.

How do you use social media to promote your business? What techniques work best for you? Please share your thoughts and experiences by commenting!

Interested in learning more about business? Then just visit Waters Business Consulting Group.

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How a Small Business can Stand Out in a Super-Competitive Industry

October 7, 2021 No Comments

Although small businesses account for the largest majority of employers in the United States, this doesn’t mean that each one has necessarily carved out a totally unique niche of its own. In fact, quite a few of them are localized competitors, offering the same products and or services as their competitor peers. What’s more, they often offer very similar price points, so there’s little to distinguish one from another. This creates a problem in standing out to gain the biggest market share in a community or region. However, there are some things small businesses can do to separate themselves from the competition as the preferred, go to choice. Fewer Entry Barriers Equals More Competition Unfortunately for a good percentage of small businesses that are run by owner-operators, just about anyone can enter into the industry at any time. Prime examples include services like lawn care, pool maintenance, junk hauling, local movers, and similar types of work that do not require an extensive skill set or very expensive materials and equipment. Consequently, many people will test their entrepreneurial skill set and that takes away small bits of market share. The presence of many competitors means many businesses are vying for the attention of these hungry buyers. The market has a lot of noise. You’ll feel pressured to spend more in marketing, when in fact, your real challenge is just to do effective marketing and come up with unique sales strategies. —Inc.com Of course, this can easily lead to over saturation, where there are simply too many consumer choices. That set of circumstances really makes it difficult for those small business owners to distinguish themselves from the competition and stand out as a clear choice to their consumer base. Since there’s numerous alternatives, this endeavor presents a considerable set of challenges. Ways a Small Business can Stand Out in a Super-Competitive Industry Even though this might seem like an insurmountable situation, the good news is there are some very effective steps you can take. But, just because they appear simple doesn’t mean they are necessarily easy to enact and follow through with consistently. Here are a few effective strategies small businesses can use to stand out in a super competitive industry: Look professional. One of the key distinguishing characteristics of successful chain businesses is that they present the public with a professional appearance. Neat and clean uniforms are hallmarks of this very important public facing workforce. Just by dressing in a professional manner your company will easily differentiate itself from the competition. Be punctual. If there’s one thing that consumers appreciate, it’s being on time and staying on schedule. Showing up on time and looking the part will do wonders for your business. Most of your competition probably isn’t doing this, or doing it consistently. And you can benefit by making it part of your daily routine. Listen and execute. Although this might seem like just another bit of obvious advice, it’s surprisingly something that’s usually lacking in small businesses, particularly those that have very high rates of competition, do to the very low entry barrier. Because just about anyone can do the work, these businesses often treat their customers in an unappreciative way, just moving from one job to the next. After all, from their perspective, there’s more business out there and it’s unnecessary to make it personalized. But your business can really stand out by offering a friendly and caring experience. Invest in key areas. This means advertising smartly in order to develop and maintain a brand image. It also means to put money into the business in strategic ways, such as upgrading equipment to provide more efficiency and therefore more satisfied customers in less time. What other things can small businesses in very competitive industries do to gain more market share? Please take a few minutes to share your thoughts and experiences so others can benefit from your perspective! Interested in learning more about business? Then just visit Waters Business Consulting Group.

Now is the Time to Get a Sweet Deal on Office Space

September 9, 2020 No Comments

In the midst of the COVID-19 shutdown, and the simultaneous rise of WFH or work-from-home dynamic, commercial real estate is steadily on the decline. With many businesses closing and others surviving on minimal staff, office space, retail locations, and other commercial real estate is and will continue to experience a huge vacancy rate. While that’s not good news for them, for savvy business owners, it presents a prime opportunity. Meaning, it’s very possible to lease (or buy) commercial property for a really good deal. The Buy Low, Sell High Strategy Everyone’s heard of the old “buy low, sell high” investment strategy. But, only those who actually act on it are the ones who benefit. When the market is down, investment advisors often tell their clients to buy why everything is on sale. However, too many people are just too risk-averse and don’t follow the advice. Asking rent prices have yet to fall, which is typical in a down cycle as landlords try to hold out as long as possible, says CBRE chief economist Richard Barkham. At the same time, Barkham says, landlords are eager to fill space, so they’re willing to offer a bevy of concessions to the right tenants, including rent-free periods, build-out expenses, and flexible lease terms. —Inc.com In fact, more people tend to cash-out when the market goes through a downturn. They “realize” an otherwise “paper loss.” The point obviously being that the adage of “buy low, sell high” really works. And, it works so well, it’s repeated over and over. The real trick is to just do it. How to Negotiate the Best Office Space Deal With all that said, now is the time to take advantage of the circumstances and land a sweet deal on commercial space. Here are some helpful tips for how to lease commercial space at a substantial discount: How long has the space been vacant? Learn how long the space has been vacant because it will give you a sense of how eager the landlord or owner is to fill it. Of course, the longer it’s been empty, the more motivated the landlord will be to sign a new lease. Are there other interested parties? If there aren’t any other companies interested in the space, that will definitely work in your favor. Simply put, the less interest, the better for you. After all, that means there’s no competition. Does the property have other vacancies? A property landlord or owner with multiple vacancies will be far more willing to negotiate in order to fill as much space as possible. Learn about subletting policies. If it’s allowable, subletting can help to offset the cost of leasing commercial space and make it even more affordable. Do your homework on similar properties. Another thing you can do is learn about similar spaces. Use this knowledge to negotiate a better deal. For instance, if another landlord/owner offers a better lease rate, you can use that as leverage to bargain on a property for less. What other suggestions do you have? Please share your thoughts and experiences by commenting and giving others some valuable advice! Interested in learning more about business? Then just visit Waters Business Consulting Group.

My Small Business Manager didn’t Manage the Business Well and Now it’s a Total Mess…What Do I Do?

June 23, 2022 No Comments

Some business owners run their company for many years, only to discover that they can’t do everything on their own. Once this inevitable realization materializes, most start to hire others to help them with various aspects of the business. Some even aspire to be largely absentee owners, leaving the day-to-day operations to a professional manager. So, they train someone up, giving them the responsibility of managing the company and then take a more offhand role, sometimes into a completely new venture or, to focus on one particular area. Typically, this goes fairly well, especially when said manager has been well trained. However, it sometimes ends in utter disaster and the manager winds up making a mess of everything. So, what do you do if you’re stuck in the latter nightmare scenario? What Good Managers bring to Small Businesses Before we get into how to fix a bad situation, let’s first look at why business owners hire managers in the first place. Usually, managers are brought on to handle all of the day-to-day activity. This allows the owner to put his or her efforts into expanding the business and even exploring new opportunities. A good manager will bring a nice return on investment, easily paying his or her salary, all while adding to the company’s bottom line. Bad management can impact employees and a company’s overall operations. Incompetent managers exist, and they can have challenges relating to staff members and keeping them motivated. In addition, substandard supervisors may not be able to balance budgets, increase revenues or capably perform other crucial tasks. —Houston Chronicle Small Business A good manager can really be an invaluable asset, being able to oversee employees, carry out projects, order materials and inventory, assign employees to various tasks and projects, and a whole lot more. In the end, the manager is also responsible for the public face of the company, particularly when the owners aren’t on site. Of course, there’s a great deal of trust involved here and unfortunately, that trust is sometimes betrayed. How Business Owners can Fix Mismanaged Companies If your small business has been mismanaged by an incompetent or uncaring manager, you’ve got your work cut out for you. The amount of damage he or she may have done may not be immediately apparent and will materialize over time. But, you can’t just wait to find out, you’ve got to leap into action immediately and do the following after letting him or her go: Talk to the employees. The very first thing you want to do is get a sense of the employees’ perspectives. You’re likely to learn a lot and some of it may take you completely by surprise. But, you’ll probably also get a kind of consensus and that will help you to know precisely what’s most important and how to prioritize what to fix first. Speak with vendors. This may sound a little odd but it’s probably worthwhile. Since vendors interact with the managers routinely, they will have different stories to tell and just like the employees, will probably give you some type of consensus. At the very least, you’ll find out how your former manager interacted with the vendors and if he or she had good or bad business relationships. Consult your customers. If you haven’t really heard any complaints from customers, this would be highly unusual. Although, your former manager may have been great in providing excellent customer service, while still mismanaging the business’ finances and/or mismanaging the team members. Regardless, getting your customers’ input is very important because it will let you know the reputation of your company. Lastly, you’ll have to go through the slow and meticulous process of piecing the operation back together. This might include having to make other personnel changes, establishing new relationships with different vendors, and possibly, having to repair customer relationships. Fortunately, a good business consultant can walk you through this very difficult process step by step. Interested in learning more about business? Then just visit Waters Business Consulting Group.

How to Use Social Media to Promote Your Business

Why Social Media is an Important Business Tool

How to Use Social Media to Promote Your Business

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Related Posts

How a Small Business can Stand Out in a Super-Competitive Industry

Now is the Time to Get a Sweet Deal on Office Space

My Small Business Manager didn’t Manage the Business Well and Now it’s a Total Mess…What Do I Do?

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