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Social Customer Service for Small Businesses

Social customer service is the process of using social media to meet the demands of customers. Traditionally, customer service success was measured through satisfaction ratings, defect rates, first-time resolution rates, average handle time, agent utilisation, and cost of servicing the customer.

Today, in the age of social media, when companies talk to customers through the same media as friends use to talk to each other, metrics have evolved. Now we look at customer sentiment, self-service usage, cross-sell, up-sell rates, conversation volume, likes, retweets, +1s, and net promoter scores.

In 2010, 25% of enterprises were using social media to respond to service enquiries by customers or partners. In 2020, that number is set to rise to 90%.

One fifth of Fortune 500 companies engage with their customers on Facebook. These companies do more than marketing: they are actively listening, engaging, and responding to customer questions. But social customer service is not only the preserve of large corporations: it’s equally (perhaps even more) beneficial for small companies.

Many small companies are reluctant to start using social media as a customer service platform, believing it to lack credibility and fearing its (potentially) unwieldy nature. However, with its popularity continuing to increase, companies who ignore social media (and the customers who are active on social channels) are at risk of becoming irrelevant.

Social media channels provide opportunities that companies have not had before, which can be leveraged to significantly enhance customer service. Platforms like Twitter allow companies to monitor their customers’ opinions and complaints, even when the customers are not taking the time or making the effort to contact the firm directly. Social media also allows companies to respond faster than ever before, not only to the originator of a complaint or issue – but to all (or at least many) of those with whom he or she may have communicated about the issue.

Another specific benefit of social media is that users are willing to share extensive information publicly. That gives businesses access to people’s preferences, interests, opinions and networks, making social media an invaluable asset for many companies, and specifically small businesses, as it provides a low-cost means of finding out about their current and potential customers. Social media is a democratising force online, giving firms of all sizes access to the kind of information that was once exclusively held by the largest businesses.

Most people think of Facebook, Twitter, and perhaps LinkedIn when they hear the expression, “social media” and these are indeed the most popular platforms. But there are others, which may lend themselves particularly to communicating certain kinds of messages and advertising certain kinds of products and services. Those that are essentially visual – YouTube (video) and Pinterest (images) – can be especially powerful.

So how can a small business best exploit these media? First, be authentic. Don’t be cute: be real. Second, do one thing and do it really well – perhaps by creating a community and then sharing your particular expertise. Finally, monitor your customers and clients – the people who already use your products and services – to see what they’d like more of or less of. In other words, take time to learn from your customers, and act on their feedback. After all, they are your most valuable resource.

About the Author: Will Vicary is a digital marketing specialist whose interests include CRM solutions and online customer experience, as well as online lead generation. He is specifically interested in CRM insurance and cloud technology.

Make Signage Work for You – Five Smart Tips for Your Small Business

Small businesses don’t have the budget or resources that large companies do, which means they need to get creative and spread every dollar as thin as possible. Most small businesses do not have the budget for tactics like television or radio ads, and most businesses large and small know that direct mail doesn’t have a high success rate.

So what does a small business do when they need to market themselves effectively? They turn to signage.

Signage is a tried and true marketing tactic, and it’s especially great for small businesses that are just starting out. Not only is it extremely budget friendly, but it’s also one of the most effective and reliable tactics on the market today.

Digital signage girl
Image by Haruhiko Okumura / Flickr

But like any marketing tactic, signage is only effective and reliable when it is used correctly. As a small business thinking about using signage, the following are tips to help ensure you get the most out of your signage strategy.

1. Choose the right location.

As a small business, you want to ensure that your target market is seeing your signage, which means you need to do your research and find the best location for your signage. Make sure that you’re choosing a high traffic area that contains a good majority of your target audience. This way, your company name and message will be seen by those who will use your products and services, giving you a bigger opportunity to increase sales.

2. Keep it simple.

Your messaging needs to be clear and succinct in order to have the best impact. As a small business, you want people to know who you are and what you do, and if the messaging on your signage is not clear, it will only confuse your potential customers.

It’s also a great idea to make sure that your company name and contact info are easily seen on the signage. If you create a great sign but forget to include this information, nobody will know that it’s your company offering these products or services. Your contact information, especially website or social media addresses, are a great way to generate traffic to your online campaigns to seal the deal.

3. Capture attention.

We just told you to keep your messaging simple, but you still need to create a great sign that will capture your customers’ attention. If you stick with bland colors and boring fonts, your signage will get lost in its surroundings. When you use fun colors, exciting fonts or even a great headline, your signage will get more visibility and be remembered more easily.

4. Don’t overlook mobile.

If you can’t find the one great location to place your signage (or if you have a big enough budget that allows you to have multiple signs), opt to use mobile signage. People are driving or stuck in traffic everyday, and if you place signs on your vehicles, you will easily reach these people.

As a business, you can create signage and place it on one of your own vehicles, or there are companies out there that rent ad space on vehicles and their sole purpose is to drive around large towns all day promoting your sign.

5. Prepare for trial and error.

Signage is one of those tactics that you may have to play around with before you hit the nail on the head. If you place signage in one location and you don’t see a great return, place your sign somewhere new and see how it works out in this location. You may have to place your signage in a few different locations before you find the one that works the best, but thanks to its versatility, this can easily be done without spending extra money.

The use of signage is a great marketing tactic for small businesses, and when you implement the signage with these tips, you’ll find more success.

About the Author: M.P Brown loves providing advice to small business owners.

How to get a loan for small business?

Moneylenders of every ilk are looking for a way to get the most amount of profit out of their investment with the least amount of risk. This works to a scale, which is why if you are deemed as a good risk (i.e. good credit rating, regular long-term income) then you get better rates, where as is you are a bad risk (i.e. bad credit rating, poor money management) then you will be charged higher interest rates.

This is the reason why most Bad Credit Quick Loans are so expensive for such short periods of time. It is also the reason that people with good credit are always getting letters through the post about having a loan or charge account.

A small business is a fairly large risk in the eyes of a lender. Especially if it is so small that the owner is requesting Debit Card Loans. A lender is looking for a business loan that is preferably for an established business that has a good income and good track record. If the business were a start up concern, then a lender would prefer an established and branded franchise, run by a person with a proven track record in the field, in a prime location with a decent marketing and business plan. All of this would make lending the money a little less risky, so the lender would probably consent.

This means that if you are looking to borrow money for a small business and do not want to jump to Bad Credit Quick Loans, then try to make yourself and your business concern less of a lending risk. One of the best ways to sway the lender is to put in a substantial amount of money yourself. For example if you were looking to improve the cookers in your kitchens to ones that use less energy, then apply to a lender. Show them how your purchase will fit into your business plan and show them facts upon how these improvements will benefit your business and its profitability. You will then stand a good chance if you can show that your current disposable/liquid income is three times higher than the monthly repayment needed. You can then improve your case further by putting a lot of money into the project yourself. If for example you were to put 75% of the costs into the project, then you would greatly improve your case. If you put nothing into the kitty, then the lender may assume that you are cash-poor and possibly lying about your income.

Obviously, if you are going to claim that you are going to put a certain amount of money into a purchase and you are asking for the rest of the money via a small business loan, then you will need to prove how much the purchase costs, and prove that you have the money to put down.

If you do get stuck for a loan, then try Debit Card Loans and overdrafts. They are often cheaper than other varieties of loans and could solve your small business problems in one foul swoop.

About the Author: Anna Mathews has taken many Bad Credit Quick Loans and Debit Card Loans and now knows all there is to know about how they work in the financial world.

Don’t Believe the Hype – The Disadvantages of Digital Signs

Exterior and interior signage have changed throughout the years. New technology allows them to be produced more quickly and in different shapes and sizes. New materials allow signage to be created heavier or lighter than before to help them better adhere to their location, and some signs are even made from eco-friendly materials.

Signage can now also contain lighting or be created in a digital fashion instead of traditional print. Many companies are using digital signage because it allows them to constantly change out the message without needing to recreate it.

But just because digital signage is new does not mean that it’s better than traditional signage methods. In fact, there are a few disadvantages to using digital signage.

Chanel digital signage - Ginza building
Image by na0905 / Flickr

They’re expensive.

The use of digital signage is more costly than traditional methods. This is because digital signage requires technology and not standard printing like traditional methods. In order to create a digital sign, you will need to purchase a screen, the software used to generate the content, the technology needed to hook it up and the staff needed to manage the campaign. Plus, digital signage needs a certain level of protection to keep it safe from harsh weather conditions, which is another added expense.

They’re still new.

Digital signs are still the new kid on the block, which means that they will still have kinks that need to be addressed. It’s also likely that as technology evolves, newer digital technologies will be created that will be better and cheaper than the previous technology. Before long, this “new” technology that you spent a fortune on will no longer be as cool or functional as the models created in the future.

They require experience.

Though some digital signage platforms are easier to use than others, it still requires knowledge of the software or technologies needed in order to make the signage work. Even if the software is easy to use, it will require a good amount of use before you have a true handle on how the technology is used. You may end up putting the wrong content in, sending it to the wrong place or making it go live at the wrong time, which can be damaging to your marketing efforts.

They’re harder to replace.

If your traditional sign were to tear, all you would need to do is have another sign printed and adhered, which though frustrating, is a pretty simple task. When your digital signage breaks, it requires more work to fix. There’s technology and electrical involved, which may mean that you need to have multiple professionals come out and fix it. If the damage was severe, you could be without your signage for an extended period of time until it does become fixed, which leaves you with an expensive repair and without a marketing campaign.

They’re chosen without much thought.

Some people make the mistake of investing in digital signage simply because it’s new, but they don’t have a clear purpose as to why they’re marketing this way or the goal of the marketing effort. When you have a marketing tactic without a purpose in mind, it will not be much help to your business.

Though digital signage can be a fun new addition to your marketing strategy, you need to determine if it’s really as valuable as you think it is. It’s possible that you’re just attracted to the fact that it’s something new, and before you make a rash decision, you need to make sure you weigh both the pros and cons.

About the Author: M.P Brown is an avid reader always on the lookout for information that will help him undestand marketing and advertising trends. M.P helps to add insight to the designers creating signs from Icon ID.

How does international banking work?

International banking or offshore banking is often a plausible solution for small business owners. By definition, offshore banking is banking done in a foreign country. Typically, the country offers favorable tax regulation; it even considered as a tax haven.

With those being said, there are some typical reasons for small business owners to use international banking services:

1. Your small business wants to secure hard-earned profits

You work hard to bring in healthy profits; it’s time for you to secure them, especially when your small business resides in a region with uncertain local economic situation.

2. You are dealing with overseas clients and partners

With an offshore banking account, you can access your money worldwide, making it an ideal solution for you to do business – wherever you are.

3. You want to explore opportunities to plan your small business finance better

Offshore banks allow you to have an account in multiple currencies. With those, you can avoid exchange rate fluctuation. What’s more, you can access your account from anywhere in the world, making it easy for you to secure opportunities easily.

How things work

The concept behind offshore banking is not that complicated, really. Let’s say that offshore banking is a set of products launched by a bank to cater those who have needs to do banking in other countries.

Offshore banking products can consist of offshore savings, offshore investments, forex services, International current account, and more. Typically, offshore banking supports online banking, so you can do transactions over an Internet connection.

International banks are typically for a company doing business internationally and wealthy people. But it’s good to know that there are banks catering to a wider group of people, enabling them to enjoy the benefits of international banking.

International banking: Pros and cons

International banking is certainly not the “ultimate” kind of banking. Just like any other banking products, International banking has its own set of benefits and drawbacks.

Pros

Offers competitive interest rates
Your account is less impacted by local interest rate fluctuations
Easy to access – internationally
Can accommodate you with multiple currencies option for better currency exchange rates
More financial planning and wealth building options via offshore investment, tax planning, and more.

Cons

Due to the issues of international banks (often exposed to money laundering, tax evasion and other illegal financial activities), the government will keep an eye on your account activity – closely.
You can still lose money, as the foreign currencies also fluctuate like domestic currency does.
Due to the location restrictions, physical access is not as easy as domestic accounts.
It’s often available for businesses and individuals with higher incomes.

Should I open an international banking account?

The answer is rather cliche – it all depends on your situation. If you are doing business internationally, opening an offshore banking account might be a good decision. Whichever decision you make, be sure you do your homework in choosing the right offshore banks. You don’t want to be involved with banks related to illegal activities!