Monday, 4 January 2021

Business.com

Business.com


Why Retailers Need the Right Software to Meet Their Evolving Needs

Posted: 04 Jan 2021 11:03 AM PST

For businesses, the pandemic is the great accelerator. It pushed forward the pace of already-occurring trends. For example, trade shows and industry events were still held in person before the pandemic, but many were shifting toward digital presentation. Now, digital is at the forefront of this industry and dozens of others. Lawyers and accountants are holding video conferences instead of in-person consultations. Even education has gone digital (at least until the pandemic eases).

Similar trends were already in place with business software, but some companies still used paper or Excel sheets to manage operations or inventory, resisting digital and cloud-based options. Those companies were already slipping behind the competition and will fade into obscurity if they cannot adapt to the new digital demands and customer expectations.

Industries focused on at-home experiences – such as swimming pool and hot tub companies, gardening supply makers, and stationary bike manufacturers – are thriving, which puts pressure on related companies to perform and meet customer expectations. On the other side, "out-and-about" industries like restaurants and move theaters have stagnated due to plummeting demand.

The pressing need for unified connectivity

Performing well in a digital world requires companies to invest in cloud-based software tools that connect different systems and enable a seamless customer experience. Retail companies need omnichannel selling and repeatable customer transactions. This means offering e-commerce options, contactless payment, curbside pickup, and in-store purchases all through a single platform.

This technology keeps pricing and products consistent across a company's channels. For example, if a customer buys a pool supply provider's shock treatment online, it needs to be for the same price as the same item sold off the truck by the pool technician.

The platform must also be able to handle multiple types of purchase. In the pool example, the shock treatment is a cash-and-carry purchase, but what if the company also sells hot tubs? That's a considered purchase for most buyers. They want to visit the store a few times, ask questions, and think about their options. The business needs a customer relationship management (CRM) component for its platform to continue the dialogue with the customer until they make a purchase decision. If the customer comes into the store and spends 30 minutes looking at various options, the retailer needs to do more than take down their number on paper. It must integrate with the enterprise resource planning (ERP) platform, which can create a quote or estimate and communicate special discounts or other incentives. Modern retail businesses won't survive without this type of engagement and connectivity.

Improving retail and inventory connections requires an ERP platform with a full suite of features, such as these:

  • EMV- and chip-compliant transactions
  • Digital customer signature and data capture stored in the cloud
  • Assurance of high-end encryption for customer data and payment information
  • Ability to capture data to inform marketing efforts and ensure customer data continuity

100% inventory visibility

All businesses need to manage inventory in real time. It's no longer just an option – it's a requirement. Businesses need cloud-based technology to bring visibility to inventory management. Where is every single product? Is it in transit, on the service truck or in the warehouse? Answering these questions with a connected ERP platform helps companies free up cash flow and manage seasonal or geographic fluctuations in demand. Business managers with visibility into every transaction can better handle multisite inventory management so they can order products dynamically and with context.

Quality ERP platforms offer multiple inventory-specific features, including these:

  • Real-time product counts by individual SKU, showing amounts that are on hand, on order and reserved
  • Granular tracking that shows the exact bin, aisle or truck where the product is located
  • Ability to build custom product bundles and kits, giving retailers the flexibility to offer new products and respond to shifting customer demand

Armed with these features, inventory managers can act confidently that the business can manage shifting demand to satisfy the customers.

Improving service teams

For businesses with a service/technician component, an ERP platform is a tool to streamline operations and tie together inventory management. So, when a customer updates a service rep in the field with their new address or product order, the rep can enter it immediately, and the information is universally changed in all the connected systems. These timesaving actions add up week by week to reduce ordering errors and keep the customers happy.

To streamline service team operations, look for a software provider that offers the following:

  • Optimized crew routing with Google Maps, letting service managers track and redirect service crews as needed
  • Detailed scheduling to keep crews working efficiently
  • Communication through text and email notifications to give customers "on my way" and other status messages
  • "Digital door hangers" that summarize the services rendered

Service team management is traditionally performed through various disconnected apps or legacy scheduling systems. It's difficult to scale these types of operations without integrating service calls into an ERP. Companies need the actions of the service team to be visible and connected to the other operations, with vendor, customer and inventory data all residing in a single cloud platform. 

Finding the right platform for the pain points

Software providers often meet with potential clients who are unprepared for the engagement. The client might simply show up without any thoughts given to their specific needs and sit through the vendor's presentation. The scale of digital change requires business owners to be fully invested in finding software tools that solve definable and measurable problems. This requires making a list of your wants and needs as a business owner and the key pain points that technology could solve. It's a crucial first step because it focuses the conversation on solving problems, such as the need for improved inventory management, tighter cybersecurity, or data backups and redundancies.

Armed with a list of your pain points, you should also request a free trial of your prospective software platform. This is especially important when choosing a system intended for use by a variety of employees, from the cashiers to the warehouse managers. Hands-on usage ensures the platform's user interface and features match the employee's skill level and business needs.

Top-tier business operations software providers excel at integrating previously disconnected systems. For example, a merchant might use one app to coordinate appointments and sales for service reps in the field, a different vendor for POS cash register sales, outdated inventory software, and a rudimentary e-commerce platform that records sales on an Excel sheet. A software provider can connect all of these processes together in a way that makes sense and improves every related job function.

Look for software providers that offer integration across all these business operations, with unified views of product and customer status. For a company running multiple tools that do not "talk" to each other, a cloud-based omnichannel platform brings more efficient inventory management, smoother operations and happier customers. The right tech brings organization and reliability, so business owners and staff can focus on delighting the customer and boosting revenue.

Top Digital Marketing Strategies to Grow Your Business in 2021

Posted: 04 Jan 2021 09:00 AM PST

In 2019, Joseph started a business in his city. It was a small business, and Joseph was earning pretty well. However, just after a few months, the coronavirus hit hard at his city, as well as his business. Joseph wasn't able to figure out what he should do so his business could survive such a situation. Sales were declining, and even regular customers weren't showing up. Joseph was unsure whether he should continue to run the business or shut it down.

Most small business owners can relate to Joseph, and many have looked for ways to keep their business afloat during this time of crisis.

So what should small business owners do? Here's the only solution: Get your business online. But getting your business online is just half of the deal. The rest is about marketing your business so that you can reach potential customers in this difficult situation and turn them into permanent customers.

In this article, I will explore the top digital marketing strategies that can help your business grow during and after the pandemic. 

9 digital marketing strategies to grow in 2021 

SEO

There has been a huge surge in search queries after the global lockdown, which has resulted in an increase in web traffic. But why has SEO become important for small businesses?

  • Travel restrictions are forcing people to look for nearby solutions and to let those people come to you, you need to befriend local SEO.

  • The visitors that you attract right now have a higher chance of converting to become a customer.

  • SEO is a long-term game. The effort that you make now can be beneficial after the pandemic ends.

And above all, SEO is free, and in a post-COVID-19 world, search engines will continue to be the primary source of traffic to the majority of the websites, and investing in SEO will only do good to any online business.

Email marketing

Haven't you heard CARE is the best marketing strategy ever? Times are difficult for both businesses and the customers, and the priority for any business should be communicating with their existing customers. And that's where digital marketing strategies like email marketing, blogging and social media marketing come to the rescue. 

However, in order to communicate effectively with your customers, you need to properly create an email marketing strategy for your business. There should be creativity, care, and personalization in each and every email that you send; otherwise, you might lose your subscribers.

Here's how to make the most out of every newsletter that you send:

  • Personalize your emails as much as possible.
  • Always aim to add value.
  • Show that you care.
  • Don't bombard your customers with emails. 
  • Try to initiate a conversation.

Referral marketing

Your customers are your biggest brand advocates, and referral marketing is all about that. In referral marketing, businesses use recommendations and word-of-mouth marketing to attract more customers with the help of existing customers. 

But why would you need referral marketing in the current scenario?

  • A word-of-mouth marketing can be more effective than paid ads, and since you might be short on marketing budget right now, referral marketing may be the right choice for you.

  • It can put your business in front of people who are looking for solutions like the one your business offers.

  • Like SEO, it is also a long-term game, so once the pandemic is over, it can help your business grow.

Here are a few things that you need to take care of before you start leveraging referral marketing:

  • Have a clearly defined brand message that is easy to understand and share.

  • Don't just build a brand, but build a community around your brand.

  • Your customers are your biggest advocates, so keep them happy as much as possible.

  • Make the process of referring easy.

Content marketing

Think of content marketing as the connecting bridge between your content and potential customers. Content marketing has evolved more than any other marketing strategy. What started with simple blog posts has now turned into a holistic approach that depends upon plenty of digital marketing strategies. 

But what makes content marketing so important during COVID-19? Content marketing, if done right, can become the best way to remain in touch with your existing and potential customers. Because of COVID-19, more businesses are getting online; therefore, you need to put more content out there so that your target audience can reach you instead of reaching your competitors.

However, the approach that you were using before the pandemic might not work right now. You need to have a tailored content marketing strategy to survive in the current time.

Here's what you need to do now:

  • Analyze your current strategy, and track the reports of the last few months. Check what's working and what's not.

  • Create a special COVID-19 page on your website to show your customers that you care.

  • Research trending posts, keywords and content related to COVID-19 in your niche.

  • Create a content strategy accordingly.

  • Optimize your new content, and start promoting it.

  • Check which platforms are working the best for your competitors now, and start leveraging those platforms for your business.

Conversion rate optimization

According to Moz, conversion rate optimization (CRO) is the systematic process of boosting the rate at which visitors to your site take the desired action, whether that is filling out a form, becoming a customer or otherwise. The CRO process helps you understand how visitors navigate your website, what actions they take, and why they don't take the suggested action. 

CRO is important for all kinds of niches. For example, you might be selling products that are related to healthcare, and you might be getting enough traffic on your website, but that is of no use unless visitors are converting. With CRO, you can increase your conversion rate. Even if a small handful of visitors are visiting your website, if you improve your conversion rate, you might maintain your bottom line.

Here are a few ways to improve conversion rates:

  • Add a popup to your website.
  • Add testimonials from previous customers.
  • Make the navigation intuitive.
  • A/B test your headline.
  • Keep forms short and simple.
  • Use a catchy call to action
  • Remove unnecessary pages.
  • Add live chat on your website.

Personalized content 

Personalized content involves creating content that directly speaks to your target audience or customer base. The content can be in any form, like blog posts, social media posts or newsletters.

Here's how to do it:

  • Define your target audience.
  • Collect data related to them as much as possible.
  • Create content accordingly.
  • Try to build a relationship with your customers.
  • Be empathetic.
  • Recommend better.
  • Nurture your relationships.

Remarketing 

Remarketing is a strategy that involves showing your ads to people who have already visited your website or app. The strategy is highly effective, because you're targeting only those people who have already shown interest in your products or services. Here's how you can get started with remarketing:

  • Segment your remarketing list.
  • Leverage multiple channels.
  • Create thoughtful ads.
  • Keep experimenting.

Virtual reality

More than 75% of the world's top brands are using virtual reality (VR) to grow. And after COVID-19, it can be one of the most important technologies that you should use for your business. Whether you have an e-commerce store or you are a real estate broker or providing training, VR can help your business grow.

Demonstrate to customers that you care

In addition to the above strategies, an additional, valuable strategy is to care. Show your existing customers that you care. This will keep your brand thriving in such a difficult time.

10 Tips for Acquiring New Customers Through Referrals

Posted: 04 Jan 2021 08:00 AM PST

Think about all the marketing and sales tactics you employ to win new customers: advertising, maintaining a social media presence, direct mail, telemarketing, attendance at trade shows, blogging on your website, email marketing, public relations, sales meetings — the list could go on and on. And how much time and money does all of this cost you? Probably quite a bit too.

In contrast, referral sales originate from those outside of your business. Referrers become a de-facto extension of your sales and marketing arm, helping to spread the message on who you are, what you do, and why you're great.

In contrast to the uphill battle of repeatedly needing to demonstrate credibility to those unfamiliar to you, referred customers will be less inclined to keep their guard up against those whom they already know. Customers are typically predisposed to trusting a referrer, thus eliminating a major barrier to purchase. Winning new business through customer referrals is truly the low‑hanging fruit when it comes to customer acquisition.

In contrast to other marketing and sales tactics, leads from referrals tend to be of better quality, convert more readily, and are typically faster to close. They are almost always cheaper to acquire in marketing costs, and since they are more likely to become repeat customers, end up having a higher lifetime value to your business.

So, how do you go about winning new customers through referrals?

1. Establish a formal customer referral program

The natural starting point for seeking referrals is the introduction of a formal customer referral program. Instead of needing to go out and ask for referrals customer-to-customer, allow customers to proactively offer those same referrals of their own volition.

These customers are incentivized to do so by the receipt of some reward — most likely in the form of a freebie, special offer, or discount.

Once these programs are established, make sure to let your customers know of their existence and what the benefits of participation will provide. If for no other reason, it's an additional touchpoint you gain with customers that shines a spotlight on the value that you offer.

2. Set goals and targets

Your ambition to win more sales as a result of referrals is likely to become dead in the water if it's not backed up with a solid plan that spells out who, what, where, when, and why.

Set targets for how many referrals you would like, by when, and with whom. With foreknowledge of who you want to be referred to, you're able to "work backward" and determine who within your network might be best positioned to connect you to those targets. All of this is much harder without clarity on referral goals and targets.

3. Make referring easy

You will increase the chances of customers obliging to your requests for referrals by making their job as easy as possible. You'll also increase the chances of the referral being successful if you arm them with the best possible information to whet the appetite of those that are being referred.

Spell out exactly who you would like a referral to. This removes one less burden from the shoulders of the referrer.

Summarize a few bullet points about your business and the offering; making sure to give all key information to the referrer on a silver platter. This is exactly what we did with the Ringcommend Refer-a-Friend program, which sends out a customized pre-populated email to both the giver and receiver of the referral.

It may also be useful to share select marketing resources like fact sheets or case studies that you have already created too.

4. Incentivize for referrals

Different referrers will have different motivations for referring. In some instances, it will be because of an underlying positive relationship and desire to assist. At other times, the relationship might not be as strong, and lacks an organic impetus for selflessly wanting to help out.

For the latter, incentivize the referrer with a benefit they gain by making the referral. Clever referral gifting will share a benefit to both the giver and receiver of the referral — becoming a win-win for all.

For example, offer a discount that's applicable to both an existing and future (referred) customer if a referral is made and new business comes about as a result.

5. Time the request

When is the best time to ask for a referral? After the explicit demonstration of value.

Very often, requests for referrals come at a time that goods are received or projects delivered. What else typically comes at this time? The bill. Naturally, you want to distance the referral request from anything that may sour a favorable disposition towards you.

Whilst there's not much you're able to do about charging your customers for the goods and services you provide, you can still choose when you're able to ask for the referral. Be strategic and pick opportune moments where the customer will have had a chance to personally appreciate the value that they've gained from you.

6. Give and take

Giving referrals is all about sharing the love and paying it forward. You're asking others to do this for you, but there's nothing stopping you from doing it for others too.

Whether it's intended as a quid-pro-quo or simply as a gesture that recognizes the value you've received from others, get in the habit of passing on referrals for other businesses. Doing this proactively will clear the decks for when it comes time to reaching out to others and asking them to return the favor.

7. Maintain multiple touchpoints with those who are referred

Not all referrals will bear immediate fruits. You may need multiple touchpoints to take things from the initial introduction to a sale, by warming them up over time. Schedule these touchpoints to ensure that they actually occur and don't fall through the cracks.

The last thing you want is to come across as annoying — this makes you look bad to the person being referred, and reflects poorly on the referee, to whom you'll want to express your gratitude. Make sure that any post‑introductory follow-up respects these principles with the sensitivity and appropriateness that they require.

8. Make sharing your content easy

Referrals come in many shapes and sizes. We often think of referrals first and foremost as an explicit introduction of your business to another potential customer. This may be first prize, but there are other — more subtle — forms that a referral may also take, like a de‑facto endorsement represented by sharing your marketing assets.

There's a good chance that you already produce great marketing material that lives on the web. Make sure that these assets are easily sharable. Existing customers may wish to share things from great businesses they've worked with. Alternatively, strangers may stumble across things they believe could be of interest to others they know too.

Referrals may take the form of an email, direct message, or social media post. Whichever way it is delivered, take advantage of how easily things are able to be shared online, to connect your business with those that may not have known about you before.

9. Prepare yourself for new customers

You should prepare specific marketing assets that explain your business to newly-referred customers. This helps reduce barriers to conversion and makes a new customer's onboarding easier for both you and them.

In addition to incentives that converted them into customers in the first place, you may wish to provide new customers with a discount, freebie, or benefit as thanks for having taken the "leap of faith", and beginning the journey of building a fruitful long-term relationship.

10. Say thank you

Following up to say thank you to referees will acknowledge their efforts in assisting, and leave the door open to requesting additional referrals in the future. Failure to recognize the time they've taken to help you will mean they're less likely to want to help out again in the future.

The reverse is also true: referees are more likely to continue referring you — maybe even proactively — when their assistance is met with the appreciation and recognition it rightfully deserves.

There are few business tactics that are as easy to implement, with such promising reward, and at minimal cost, like asking for referrals. Make sure that your marketing mix incorporates a structured referral program with clear goals to achieve great results at comparably minimum effort.

Social Media Marketing Trends to Look for in 2021

Posted: 04 Jan 2021 07:00 AM PST

Are you looking for a fast and easy way to reach your target audience in 2021? Social media is an excellent tool that can help you grow your lead list, build rapport with consumers, and secure more sales. 

We've seen sites like Facebook, Instagram, and YouTube grow in ways many marketers thought was unlikely. At the time of this writing, an unbelievable 3.81 billion people are active every year across all social media platforms. 

In other words, if you're not using social media to grow your business, you're missing out on a significant marketing opportunity. Every potential customer you're not reaching on social media will likely go to a competitor's site. You have to seize the opportunity and get their attention early. 

The good news is you don't have to spend 2021 guessing what features are popular on social media. 

Dynamic ads are the new normal

The first topic we will discuss today is dynamic ads. If you're not familiar, dynamic ads are used on social sites like Facebook, Snapchat, and Instagram. An algorithm puts together these promotions by examining audience segments and additional details provided by the business owner. 

Once it's all said and done, your target audience will see curated ads that match their needs. These ads will all have various images, text, and designs -- all created by your team. Websites like Facebook can take this data and fit the pieces you provided to create personalized promotions for each person. 

The sheer reach of these ads is impressive. On Facebook alone, you can reach a staggering 2 billion people by investing in dynamic ads. 

We recommend using this opportunity to do more than close sales. You can also ask for event registrations, email signups, and much more. Simply include text and image options that match your intended purpose and upload them to the ad program. 

It's expected that by the end of 2021, business owners and marketing teams will have a variety of dynamic ad tools they can use to reach potential customers. 

More subscription-based memberships 

Another trend we've noticed is a rise in subscription-based memberships. Platforms like Facebook and YouTube allow marketing teams to create groups that work on a membership basis. You may be familiar with this concept if you've ever browsed the fundraising site Patreon. 

Users can pick how much they would like to donate and receive additional content for their contribution. Subscription services on social media operate in a similar way. 

Let's say someone finds your brand for the first time and becomes a customer. They love your product and want to learn how to get more value, so they visit your social media page. Once they arrive on your profile, they can see that you have a membership group that requires a monthly fee. 

Highlight the benefits of joining your social media group by letting potential users know what they can expect when they sign up. So, in the example we just used, the marketer might highlight an enhanced value proposition by offering subscribers exclusive tips and tricks for using their product or service. 

Research shows that subscription-based memberships are not only popular but useful too. A surprising 76% of businesses that use this model claimed they saw better customer retention after putting their plan in action. 

Emphasis on discoverability 

Due to Covid-19 restrictions that started in early 2020, many brick and mortar businesses turned to the internet to continue selling their products and services. Ideally, you want to show up in the Google search results when someone types in one of your targeted keywords. 

But Google isn't the only way you can help users discover your company. Social media also comes with a built-in search function, and many people use this feature to find new businesses. 

If you want to increase your discoverability, try optimizing your profile for searchability. You'll want to use keywords and phrases that consumers might type in when looking for your business. For instance, if you sell candles, you may want to target something like "best homemade candles" on your social media profile. 

While this won't do much for your search results with Google, it will make your profile more visible to people browsing for candle businesses on social media. 

As your subscriber count grows, you'll start to see a shift in the search positions on sites like Facebook. Now, people will have an easier time finding your brand for the first time, which could lead to more sales, followers, and engagement. 

An explosion of user-generated content

User-generate content (UGC) can be summarized as a video, photo, or piece of text written about a business by a customer. Brands often share UGC on their social media profiles and websites as a way to build social proof and get other users engaged in conversations. 

There are a few ways you can get customers to share UGC on social media and your website. When it comes to sites like Twitter and Facebook, we suggest incentivizing users to share photos or videos of themselves enjoying your product. 

Picture contests are an excellent way to bridge this gap. Simply start a contest for a gift card to your store or one of your most popular products. Encourage existing customers to share themselves using your product. Not only will this get the attention of people who haven't yet bought something from your online store, but it also gives existing users a reason to engage with each other and your business. 

Comments, likes, and shares all add weight to UGC. When customers willing to share their experiences with others, your chances of getting discovered increase. You also get the opportunity to continue nurturing your customers, so they stick around long after their first order. 

Companies that implement UGC see an average revenue increase of 18%! Simply asking users to share their thoughts on social media and putting their message out there for the rest of your customers to read is an extremely effective way to grow your brand in 2021. 

More partnerships between B2Bs and influencers

Businesses that create products for consumers instead of other companies have used influencer marketing to experience rapid growth over the last several years. Essentially, influencer marketing is when an online personality shares a post or video that promotes your brand. 

The most common platforms to find influencers include YouTube, Instagram, and Facebook. Businesses connect with these internet celebrities and ask if they are interested in a sponsored post. If the influencer's target audience aligns with the company, they may strike a partnership. 

For instance, a makeup company promotion would fit in with content posted by a travel and beauty influencer. Building connections with other like-minded creators allow you to share your product with a broader audience. 

It seems that the trend of influencer marketing is shifting towards B2Bs instead of just B2Cs. 

Brands now partner with influencers in business and finance to promote their products to other owners, and it's working! We saw an unprecedented number of influencer posts last year, and that number is not expected to go down any time soon. 

If you're interested in implementing this strategy, start by browsing for popular influencers with a target audience that aligns with your own. It's worth pointing out that influencers with a ton of followers tend to cost more than a sponsored post with a smaller channel. Each type of influencer offers unique benefits, with big influencers reaching more people and smaller creators seeing stronger engagement. 

In 2021, expect to see a consistent rise in social media users across all demographics. It's impossible to capture every lead that opens up a social site, but it's likely that you can reach more people than you are at this moment. 

We advise creating your social media campaigns now so you'll have more time to monitor the results and make changes throughout the year. 

Why Your Approach to Hiring Is All Wrong

Posted: 04 Jan 2021 07:00 AM PST

Hiring in the 21st century is a complicated business. In the past, businesses would typically promote internally. The idea of the "company man" who worked their way up the ladder is a central component of the fabled American dream. In the '50s and '60s, the "company man" was how businesses protected their interests. Training employees was expensive, and having someone who knew how the industry worked (along with all of its secrets) was a godsend to move them up the ranks. However, things changed drastically in the '70s and '80s. Restructuring and layoffs saw businesses move to a more generic method of functioning. The prevailing wisdom was that your company should mirror what the top companies were doing, and eventually, success would follow.

In the wake of these changes, businesses realized that they no longer had to promote up the ranks. If an employee was doing a particular function for their offices, chances are their competitors had someone who was doing the same job. Stealing away talent from competitors became a more viable method of getting new hires. There was no time and money investment to train these hires, and their contribution to the business could be immediate. A 2017 survey of CEOs conducted by PricewaterhouseCoopers found that most executives were concerned about hiring talent that fits with their business.

Companies' current hiring approach is all wrong, and this article intends to show you precisely what's wrong with it.

Look internally first.

Internal job boards exist to give the company somewhere that they can look for internal talent first. It came as part of the dot-com explosion and remained because of its usefulness to other industries. The internal job board was initially designed to ensure that small startups didn't suffer from employee turnover. Employees who wanted to move on could look at their company first to see if there was a job available instead of leaving for a competitor.

When the 2008 recession hit, employees weren't interested in leaving, since job security became their No.1 concern. Managers took it upon themselves to ensure that those subordinate to them could not move up internally. Many talented employees get left behind when companies don't use their internal job boards to fill their vacant positions.

Another way that businesses abuse the job board is by posting "phantom jobs," a phantom job doesn't exist, but it's an excellent way for companies to build up their roster of skilled personnel in case they need them. Inevitably, job boards such as Indeed and Monster find these phantom posts and send them out for applicants. The result is that the company gets an influx of applications for a job that doesn't exist. They can then reference these applicants in the future if a vacancy comes up. 

Consider how expensive hiring is.

One of the merits that external hiring has had for businesses is cutting back on the amount of money they spend on training new hires. Talented hires are supposed to be able to jump into a job quickly with little onboarding. Yet, in today's highly specialized industries, companies have developed many internal practices that are unique to their offices. According to Wharton, new hires may take as much as three years to perform at the same level as internal hires, while internal hires may take seven years to match the pay that companies dedicated to externals.

These facts shouldn't discount external hiring completely. However, it should show you that a more measured approach is necessary. The truth remains that getting software engineers to stay could potentially lower the costs you spend in the long term compared to if you hire new engineers externally. The internal employees are likely to function much more efficiently and at a far better cost than external hires.

Be wary of referrals.

LinkedIn Business notes that 48% of new hires come from employee referrals. Many businesses depend so heavily on this recruitment methodology that they run the risk of a lack of diversity. Human beings tend to know people who are just like them. These referrals can lead to a series of hires that all share similar interests. While this might be a problem for company culture, it could lead to some awkward questions about diversity and may lead to problems with the business adapting to thinking outside of the box.

Utilize analytics to offer feedback.

Can you imagine a marketing department that doesn't see whether its marketing tactics improve its sales numbers? Businesses that rely blindly on hiring practices that claim to use data science are doing much of the same. The truth is that few employers know which channels benefit their business the best when it comes to finding talented candidates. Businesses can narrow down their current employees and track back to the company's start, figuring out which recruiting practices led to the most productive (and longest-lasting) candidates. Using data removes the personal feelings that a manager may have about certain hiring practices.

Try to get fewer candidates to apply.

This approach is the polar opposite of what companies do now. Phantom jobs postings and passive recruiting create a system in which there are more candidates than there are jobs. The idea behind this tactic is to make hiring more efficient by getting more people to apply. Many employers promote this by getting the word out that their organizations are desirable to work at. 

By paring the applicant pool down before application, however, a business stands a better chance of getting more qualified and skillful applicants applying to positions. Each applicant costs you money to go through their qualifications and decide if they're worth hiring. With many other similar jobs having openings, the longer you take to make up your mind, the less likely it is you'll get the ideal candidate. Even once you have a shortlist of candidates, the final decision can be difficult because of the very act of creating a shortlist.

Individuals who have made it in as candidates are less likely to tell the truth because they want the job. The employer is less likely to tell them the truth about the position because they want the candidate to accept the job. The result is that neither party knows what they're signing up for. A better approach is to be honest with the candidate, including the position's limitations and what it entails, including the dirty details. A candidate who is aware of what they're signing up for is less likely to become disgruntled and leave. On the other hand, the company would narrow down potential candidates to those who genuinely want to work the position.

Change the paradigm.

The world today is a lot different from it was 40 or even a mere 10 years ago. The corporate world has evolved, and from an employee's perspective, this evolution might not have been for the better. Employers need to do better if they want to find skilled, talented workers that actually want to work at their businesses. Changing the toxic hiring practices the company uses might be a step in the right direction.

6 Tips For Creating Engaging Content

Posted: 04 Jan 2021 06:00 AM PST

Most businesses know that content is the key to winning customers. However, building a content creation strategy that actually engages users is still a challenging issue. 

There are a few mistakes that businesses continue to make. For example, focusing on quantity over quality. And creating content that sounds "professional" but impersonal to users. 

In this post, we'll cover several practical ways you can create engaging content. And with the tips given here, you'll be able to make content that's appealing and gets attention - which in turn will lead to more sales for your business. 

Create content customers want to read

This tip seems obvious, but many businesses approach content creation by keeping their business goals in mind. 

For example, I once came across a website selling high-end bathtubs for personal use. The creator of the site and the content focused on technical specifications such as the model names and numbers of the tubs. If they had thought about what their customers want,  they would have focused on how their bathtubs could be a way to relax or add a classy touch to their homes. And they could have optimized their SEO for bathtubs and the location they catered to.

To create content your customers want to read, keep the following in mind:

  • Learn about your primary demographic. You should have a clear idea of whom you are selling your product to. Even if your product is for everyone, you're better of picking your most important demographic and learning about how they use your product

  • Focus on the benefits your product provides rather than the features you think are important. Specs matter but what your customers really want to know is that your product will meet their needs

The remaining sections of this post will give you more guidelines on how to make content people want to read. Start with researching who your audience is and what they want. And use the rest of the ideas here to build content that shows them that your business is the right fit for them. 

Imagine your audience in clear detail

Have you noticed that when you know someone well, your conversations with them are meaningful and generate a positive response? This is something you can do even when you're writing email posts, blog content, or ads for your audience. 

When you write for a faceless mass, your communication will lack liveliness. But if you can build a customer persona, your content automatically becomes more interesting. For example, a clothing company for plus-sized women will have a different view of their customers when compared to how a fabric manufacturer for furnishings will think about their target market. 

When imagining your audience, give them an age, a name, a profession, and make them "real." Then, when you think about them and write your blog post or create your video, you'll approach your material with greater energy and personalization. 

Have a tone of voice

In a sea of impersonal content, having a 'voice' and a specific tone for your brand can set it apart. As an example, consider how Old Spice differentiates itself from other grooming brands for men. All their marketing, from their website copy to their ads, use a fun, humorous, and cheeky tone. This makes the brand memorable and people immediately associate their content with grooming and self-care products for men. 

After you've made a clear picture of your audience, imagine that you're talking to them directly as you would a friend. With practice, you'll find that creating and maintaining a tone becomes easier and will also engage people more. 

Choose a tone of voice that's right for your business. Humor in content is always engaging but is not necessarily appropriate in all situations. You can opt to be professional, academic, uplifting, or choose any other tone that makes sense for your audience and your business. The important thing is to remain consistent across your communication. 

Engage your audience's emotions

A critical element that makes content jump out online is the use of emotion in your blog posts or social media content. Always look for ways to connect with people at an emotional level. Here are my suggestions for doing this:

  • Make use of power words that are proven to get people's attention. Words like "Free", "Best", "Guarantee", and many others create an impact when you add them to email subject lines, blog titles, and ads

  • Craft blog titles with "How-tos" and "X Best" or "X Easiest" and similar formats as these tell users that your content will help them

  • Pique your audience's curiosity by building a suspenseful opening sentence in  your emails

  • Ask a question that makes your audience think

  • Make a bold statement or an assertion that compels people to keep reading your content

  • Add stories, case studies, and news to add examples to your posts and provide context to users

The next time you're on social media, observe posts that go viral. You'll note that virtually all of them evoke people's emotions in some way or the other. Keep working on making emotional content and track the impact of your content through analytics. You'll identify what works and how to leverage your content for the best effect. 

Format your content

Nothing will put your readers off as much as a badly formatted blog post. Even though an article may contain extensive information, your audience will not consider it helpful if they can't scan it and understand whether it's relevant to them in a brief glance. 

Here's how to format your content for the best effect:

  • You can make your content scannable by breaking your text into smaller paragraphs - keep each paragraph to three or four lines each 

  • Run your content through an app like the Hemingway Editor. It will detect sentences that are too wordy and highlight them for your attention

  • Use a casual way of speaking or writing in your posts. A friendly and conversational writeup will make your content easy to understand. What's more 83% of people prefer an informal and chatty tone.

  • Break up long posts with images and video content. Images retain people longer on your website and illustrate your point well. Posts with images get 94% more views as opposed to ones without any visual elements. 

  • Use headings and subheadings to tells users what each section of your posts is about. This makes it readily apparent to your users whether your post will help them or not

  • Make use of bullet points and numbered lists to break up long paragraphs into actionable points

A well-formatted blog post or article will make your content look appealing to people seeking relevant and informational material. These tips will keep people on your page longer, impacting your engagement rates and SEO too. 

Leave a call to action

When you end a piece of content, whether it's a video, social media post or a blog article, be sure to give your users something to do. 

A call to action serves the purpose of driving customers to take action that leads to further engagement. These actions can include following you on social media or liking a video. You can direct users to subscribe to a newsletter or join an exclusive membership site. 

When you don't add a call to action, even one as simple as telling people to check out more of your content, your audience will lose interest fast and find content elsewhere.

With calls to action, you'll be able to reengage your audience. When they receive your emails, get notifications for new videos and posts, you'll have the opportunity to continue nurturing your relationship with them. 

The tips given here are practical and proven to work. By implementing just some of them, you'll see an improvement in how well people respond to your content. 

Of course, you'll have to go through some trial and error before finding what works for your business in particular. But if you keep working on these tips and use analytics to support your efforts, you'll see a boost in customer engagement.

 

What Is an Online Shopping Cart?

Posted: 04 Jan 2021 05:15 AM PST

If you're one of the 1.8 billion people worldwide who purchase goods online, you've used an online shopping cart – which is the software that makes buying products online possible. Shopping cart software can be added to existing websites, or, if you're starting an online business from scratch and want an easier way to get your online store set up, you can use an e-commerce platform that has a built-in shopping cart. Here's what you need to know about this technology.

Benefits of an online shopping cart

In addition to facilitating online purchases, shopping carts control how the checkout process looks and how easy it is for customers to use, said Jonathan Frey, chief marketing officer of Urban Bikes Direct.

"Sure, shopping cart software takes customers through the checkout process from the moment they click on the cart icon all the way to payment. But it's also the engine behind pretty much every part of the customer experience that distinguishes online stores from other websites," he said.

Frey explained that shopping carts do the heavy lifting of rendering product images and descriptions on each product page.

"Third-party solutions like Shopify offer their own store themes, which can help you reduce or eliminate UI and web design costs if you're building on a budget. In that sense, you can think of shopping carts as alternatives to website-building platforms like Wix and Squarespace. They help you set up an entire storefront or e-commerce website, even if you have no coding experience."

Here are three more things online shopping carts can do.

1. Generate new and repeat business

Shopping cart software makes online shopping possible, which  can help you acquire new customers who would otherwise miss out on your products if you were limited to selling from a brick-and-mortar location. Once customers see how easy it is to purchase your products online and your products prove to be worthy, there's the potential to generate repeat business. As noted by the e-commerce marketing platform Yotpo, 14.77% of all e-commerce customers are returning shoppers who spend three times more than one-time shoppers, on average.

2. Easily accept multiple types of payments

Some of the older payment processing equipment that's used in brick-and-mortar stores is restrictive. For example, not every merchant is able to accept PayPal, Amazon Pay or Apple Pay. With shopping cart software, you can accept these payment methods.

This is important because just over the past few years the number of people using these payment methods has dramatically increased. Statista reported that in September 2016 Apple Pay had 67 million users and, as of September 2019, had 441 million users. The data also shows that 48% of iPhone users had enabled Apple Pay.

These additional payment processing offerings provide consumers with the flexibility to choose how to pay and can further entice them to buy because they offer fast, convenient and easy online checkout.

3. Reengage prospects

It's easy for people to visit a website, put some items in their shopping cart, and then leave the site without making a purchase. Consumers abandon shopping carts for these reasons, among many others:

  • The site or webpage loads slowly.
  • The checkout process is long or confusing.
  • They get busy or distracted.
  • They don't like the product pricing.

Using digital marketing with your shopping cart, you can reengage prospects who started shopping on your website but did not make a purchase. Reengagement is done through remarketing with Facebook advertising, Google Ads and Bing Ads. Remarketing keeps your brand top of mind for customers.

Who benefits from shopping cart software?

Any type of business that wants to sell products online can benefit from shopping cart software. These are some of the many business types that might benefit from it:

  • Clothing shops
  • Skincare companies
  • Pet supply stores
  • Makeup shops
  • Home goods businesses
  • Bookstores
  • Office supply shops

Does your website need a shopping cart?

Yes. If you want to sell products easily and efficiently online, your website does need a shopping cart. The shopping cart is what your customers will use to check out with and how you'll get paid. Online shopping carts also come with helpful features that streamline selling products online.

What shopping cart features should you look for?

There are dozens of companies that offer online shopping carts. Some offer features that are unique to their company, and others offer features that are similar to their competitors'. The features you should look for will come down to the needs of your business. [Read related article: How to Choose the Best E-Commerce Platform]

Here are eight features to look for when you're choosing an online shopping cart.

1. PCI-DSS compliant security

Keep your information and your customers' information secure with a shopping cart that has PCI-DSS compliant security – an industry-wide norm.

PCI-DSS is the abbreviation for Payment Card Industry Data Security Standards, which is a set of security guidelines that have been designed to ensure all companies that accept payments do so securely. Businesses that are not PCI compliant are taking these risks:

  • Paying fines and penalties to their payment processors
  • Losing their information and their customers' information to hackers
  • Being banned from the card companies so that they no longer can accept card payments
  • Losing money as a result of fraud

2. Flexible shipping rates

This feature lets you choose how much to charge your customers for shipping. For example, you may want to offer local customers, or customers who are located in your country, free or cheaper shipping since you'll pay less on shipping. With a flexible shipping feature, the choice is yours. A good shopping cart will offer features to set up custom shipping, such as these:

  • Fixed pricing
  • Tiered pricing
  • Weight-based pricing
  • Location-based pricing

3. Automatic tax deduction

Manually calculating tax prices will be a giant headache. Look for an online shopping cart that automatically calculates and sets taxes based on the customer's location.

4. Customer profiles

A customer profile feature tracks customer contact information so you can easily send follow-up communications and marketing. Thanks to this feature, businesses have seen repeat sales. Frey said that it gives him insights into customer preferences and buying habits, so he can deliver targeted, highly relevant emails and special offers to his customers' inboxes.

"Once they find what they like, e-bike riders tend to be loyal to their favorite brands and often appreciate specific updates about accessories and new models," he said.

5. Multilanguage integration

If you plan to sell products internationally, you should look for an online shopping cart that can automatically translate your site to the languages of your choosing.

6. Choice of various payment gateways

A payment gateway is the financial technology that processes card payments. Costs and service quality varies between payment gateway providers, so look for a shopping cart that lets you choose your payment provider.

7. Abandoned cart recovery

Customers often put items in their carts and then leave your site before checking out. It's useful to have a shopping cart with tools that you can use to reach out to those customers and remind them of their interest in your products.

"The ability to track abandoned carts in Shopify has helped us reduce our abandonment rate," Frey said. "With Shopify's advanced plan, we can automatically send follow-up emails to any shopper who's left their cart. If you opt for the standard plan, you can still use the abandoned checkouts tracking data to manually send out gentle reminders to shoppers who haven't completed their purchases."

8. Data and analytics

Being able to analyze shopping cart data can help you improve your customers' online shopping experience and run retargeting marketing campaigns to prospects who abandoned their shopping carts. Look for features that show you which products are most popular, what your customers want to buy and your customers' latest cart activities. Also look for the ability to automatically generate and email reports, which can save you the time it would take to run them manually.

How do you create a shopping cart for your website?

Exactly how you create a shopping cart for your website depends on the shopping cart software you choose and the platform your website is on. It's best to contact your shopping cart company for detailed instructions. If you're adding a shopping cart to an existing website, the process may look similar to this:

  1. Log in to your account.
  2. Identify the store settings dashboard.
  3. Identify the shopping cart embed options.
  4. Select the Buy Now code.
  5. Set up a shopping cart page on your website.
  6. Paste the Buy Now code onto the dedicated page you created.

This process could be a bit more complex; in some cases, you may need the help of a web developer. 

How does an online shopping cart work?

While the content will look different from website to website, the overall process for how an online shopping cart works is as follows.

1. Customers add products to their carts.

Your customers browse your website for products that interest them and select the Add to Cart button to add the products they want to buy to their cart.

2. Customers review their order.

As your customers add products to their carts, their carts update. They will be able to view their order, adjust it as needed, and choose their payment method.

3. The software calculates tax and shipping.

Your online shopping cart software will automatically calculate shipping and tax costs along with any applicable discounts. This is the final step before checkout.

4. Customers complete the checkout process.

Your customers will be prompted to add their payment details:

  • Full name
  • Street
  • State
  • ZIP code
  • Country
  • Phone number (optional)
  • Email address
  • Billing information (if it's different from their shipping information)
  • Payment information (or any automatic checkout options you offer, such as PayPal or Apple Pay)

Depending on the features that your shopping cart offers, you may be able to offer additional checkout options such as these:

  • Express checkout
  • Guest checkout
  • Customer checkout (customers will make their payment with an account they previously created)

Shopping cart creation tips

Here are some tips to help you find success with your online shopping cart.

1. Add a mini shopping cart pop-up that your shoppers can view while browsing your catalog.

According to Stephen Light, co-owner and CMO of Nolah Mattress, a mini shopping cart allows shoppers to see their cart's content without going to the dedicated cart page.

"Doing so saves them the hassle of going back and forth between pages," he said. "The absence of a mini shopping cart might aggravate online shoppers and trigger a feeling of frustration. When this happens, they might shop at another store."

2. Keep it simple.

Make your shopping cart as easy as possible to use. If you require your customers to take too many steps to check out, you can bet you are going to lose sales.

3. Factor in the mobile experience.

Keeping mobile shoppers in mind is a must. According to Oberlo, mobile commerce sales are projected to reach $2.91 trillion in 2020, which is 25.4% above the $2.32 trillion it registered in 2019.

"When shopping online, consumers seek convenience, cost-effective delivery, and a quick and easy purchase process," said Alexandra Zelenko, a senior marketing/technical writer at DDI Development. "They also expect a superior, personalized, and frictionless omnichannel experience that both facilitates online sales and encourages boutique visits."

As part of enhancing the mobile experience, Zelenko suggestd offering hassle-free payment processing.

"Offering expedited payment options such as Amazon Pay or PayPal at checkout allows customers to quickly move through the checkout process; they can complete their purchase with one or two clicks. Online customers want to get their shopping finished quickly and easily and with a wide range of alternative payment methods to choose from."

How to Build User Engagement After a Website Redesign

Posted: 04 Jan 2021 05:00 AM PST

Are you thinking about redesigning your website? If so, you're not alone. Now that the new year is here, many business owners are looking for a way to make their brand stand out from the crowd. 

Consumers expect businesses to deliver the products and services they need. A poorly designed website can get in the way of that experience and result in abnormally high bounce rates and decreased sales. Redesigning your website is an excellent way to create new marketing opportunities while revising your existing strategies. 

The thing is, most people don't know how to get more user interactions after a total website overhaul. Today, our goal is to offer actionable advice that people just like you can use to boost engagement in 2021. 

We will explore several ways you can get people excited about the new look of your online business using existing channels like email. Also, we are going to go over a few techniques you can use to continuously fine-tune UX after the redesign.

Reach out to email subscribers

First, let's talk about email marketing. Email is, without a doubt, one of the quickest ways to get more consumer interactions. Your subscribers consist of dedicated customers and people who are curious about your brand or enjoy your content. 

The average return on investment for email marketing is 4,400%. It's believed that this shockingly large number is due to the personal connection that businesses can build through email. 

Because these people tend to be the most responsive, you should always reach out to your email subscribers after a website overhaul. Keep in mind, you don't have to go all out and ask for a sale during this time. 

Instead, create an email that lets users know about the positive changes on your website and what they can expect in the future. There's a good chance that consumers that haven't recently visited your site will see the redesign. If your new design is intuitive and user-friendly, you'll likely see more engagement and sales from sending out one informative email to subscribers. 

Share a press release 

Press releases are a perfect way to let existing customers know about your changes while spreading brand awareness. There are still plenty of people who have never heard of your website, and a press release could be the thing that encourages them to click through.

When you're writing your press release, we recommend that you spend most of your time on the header, subheader, and first paragraph. A majority of people won't make it past your title, and even less will make it through the first paragraph. 

Putting all of the vital information at the front of your press release ensures that people fully understand the redesign and how it could impact them. 

If you don't give people a reason to keep reading and click the link to your website, they will back out and likely not return. You can put your press release out through the major PR networks, though there's a hefty price tag associated with that much exposure. 

Social media is a cheaper way to put out your release. You can use this opportunity to partner with other businesses in your industry and ask them to share your post. Don't forget to pin your press release to the top of your social media accounts so new and returning users can see the update. 

Emphasize social proof

Social proof in marketing is a psychological trend where people are more likely to buy a product or service based on the opinions of others. Business leaders and marketing teams are beginning to understand the power of social proof, so many have implemented this strategy as a part of their website overhaul. 

Including key pieces of social proof throughout your website can yield promising results for your business. For example, adding one testimonial to your landing page can increase sales by 34%

You should also make it easy for customers to leave reviews on specific products available on your website. Studies show that 85% of internet users trust reviews if they are submitted by other customers. 

So, by making social proof a cornerstone of your redesign, you can drastically improve on-site engagement. Simply add a form to the bottom of each product page so customers can leave their thoughts after completing receiving their order. You can even encourage email subscribers to leave reviews after making a purchase to quickly gather feedback on each page. 

Test new marketing strategies 

One of the best parts about a full redesign is you can test new marketing strategies that didn't fit into your old format. New ways to generate leads and sales are popping up every day, and many look promising for businesses across all industries. 

We are seeing more companies experiment with things like push notifications to reach potential customers. When you consider that these alerts can get 13.98% more email subscriptions, it's obvious why this technique is so popular. However, many older online stores do not have the design or space to implement this strategy. 

If you decided to redesign your website to make it more mobile-friendly, push notifications could help you get more customer engagement. When a visitor lands on your website, send them an alert that asks if they want to subscribe to future notifications. 

You can also merge your social media feed with your website. Similar to the previous situations, older websites don't have the space or resources to make such a dramatic change. But after a fresh redesign, you can put your most popular social media feeds on the sidebar of your website. 

Now, when a visitor is browsing your product page, they can see real interactions between your brand and other customers directly on the page. Not only does this lend to social proof, which we covered earlier, but it's also an excellent way to get consumers involved in the conversation, which means more engagement. 

Ask for feedback

Finally, you can get more people to interact with your brand after a redesign by asking for their feedback. People love voicing their opinions, especially when talking about brands that they enjoy. 

You could send out an email, create a poll on social media, or even put a feedback form on your website. Ask users what they think of the new design and your business as a whole. Use this information to develop your marketing campaign and the direction of your business. 

The best way to build engagement is to encourage a conversation. When you ask for feedback, you're giving your customers an opportunity to speak up and change the future of your company. You can get some truly remarkable ideas by listening to the people that use your product and website. 

Once you've gathered enough feedback, you can sort through the responses and look for common patterns or ideas that stand out from the rest. It's up to you how to implement these changes, but one thing's for sure, your customers will appreciate your attentiveness. 

After people see that you're willing to adjust to their needs, they are much more likely to visit your website and engage with your brand through multiple marketing channels in the future. 

Your business will continue to grow and evolve well after your redesign as more users share their feedback. Keep in mind that the primary purpose of overhauling a website is to make life easier for your audience. Don't miss this rare opportunity to reengage existing users and introduce your company to new potential customers. 

Tips on Developing an Awesome LinkedIn Company Page

Posted: 04 Jan 2021 05:00 AM PST

LinkedIn is unique among the major social media platforms in that it is narrowly focused on the world of professionals and businesses, making it a great place to network with potential employees, customers, investors, partners and suppliers. Your company page on LinkedIn can serve as a place where you establish your brand and make it personal by linking to the individuals who make up your company. Of course, as on other social media platforms, it is important to ensure that your brand stands out on LinkedIn. The first step in doing so is to set up an awesome LinkedIn company page.

What is a LinkedIn company page? How do businesses use it?

A LinkedIn company page (sometimes called a LinkedIn business page) is different from an individual LinkedIn profile. It allows brands to establish a presence on the professional social network and engage with potential employees, customers and partners. Each LinkedIn company page features a brand's logo and name, as well as a brief description of its products or services.

Once completed, a LinkedIn company page can be used to interact with the more than 700 million active users of the network.

With a LinkedIn company page, brands can do the following:

  • Prominently display a branded header image
  • Link back to their company's website
  • Post status updates
  • Post job openings
  • Create an event
  • Create a Showcase Page
  • Track analytics

Each of these tools can improve a brand's ability to communicate its value to its audience, whether that is job candidates who can help the company grow or customers who want to pay for products or services.

Benefits of a LinkedIn company page

A LinkedIn company page offers brands a way to gain recognition among an audience of professionals, making it especially effective for business-to-business (B2B) companies. It can also be easier to grow organic content on LinkedIn than on other social media platforms, said Taylor Aldredge, buzz director and partner at marketing agency Quality Control.

"Twitter is a hard platform to stand out on now," Aldredge said. "Facebook and Instagram require paid content to boost posts. But on LinkedIn, you can still go viral in a really big way."

To improve the odds that your brand will go viral, or at least gain significant traction, consider using a LinkedIn company page in the following four ways:

1. Share company updates.

A LinkedIn company page can be used to share status updates in much the same way as an individual's LinkedIn profile. When your brand shares company news through your business page, it will appear in the news feeds of your followers. A business page can be used to attract any type of LinkedIn user your company might want to connect with, from professionals to potential customers. Determine your target audience to better tailor content to the type of LinkedIn user you want to engage with your brand.

"Share things that are important to your business model or your company goals," Aldredge said. "You can contribute to your brand growth in that way."

2. Recruit and hire.

LinkedIn is a platform dedicated to professionals, entrepreneurs and employers, so the connections and followers you gain are likely to be skilled, experienced and motivated. Though LinkedIn charges a fee for the job opportunities you post, job seekers are plentiful on this platform.

"LinkedIn is a really great way to get jobs up there and keep them organized," Aldredge said. [Read related article: How to Hire for Your Business]

3. Publicize events.

LinkedIn allows you to create and promote events. For example, if you are hosting a webinar, you could create and publicize the event on LinkedIn through your company page. Your followers will then see the post in their news feed. For an additional fee, brands can sponsor posts and events to reach a wider audience.

4. Review data analytics.

As your LinkedIn following grows, you can gain marketing insights by reviewing the social media platform's analytics data. LinkedIn Page Analytics offers data points such as follower and visitor demographics, which can be used to refine your larger digital marketing efforts to better target your audience. You can also use analytics reports to evaluate the effectiveness of the content you post on LinkedIn.

Who needs a LinkedIn company page?

Not every business owner needs a LinkedIn company page. Freelancers, for example, are better served by an individual profile that showcases their work experience, Aldredge said. However, if business takes off and a freelancer decides to hire an employee, it might be time to create a company page.

Additionally, LinkedIn tends to lend itself better to B2B brands than to business-to-consumer (B2C) brands. While some B2C activity can occur on LinkedIn, it's far more likely for B2B businesses to find customers on the platform. [Read related article: How to Use LinkedIn Groups to Generate Business Leads]

"Your business should be on LinkedIn if customers are finding you or you have positions available," Aldredge said. "If you're a small business owner who does retail, you might not need a LinkedIn company page unless a lot of your employees are also on LinkedIn."

However, LinkedIn can be useful for B2C businesses as well. Although LinkedIn might not drum up as many sales as Facebook, it can still be an effective brand-building tool. When you're determining whether you need a company page, think about the type of users who are on LinkedIn. Aldredge gave the example of Tesla's LinkedIn company page, which has over 7 million followers.

"People aren't going there to talk about consumer products," Aldredge said. "They're going there because they're engineers or professionals. It's a consumer-facing brand, but people are there for B2B reasons."

Whether you are trying to find employees, suppliers or investors, there might be a good reason for your B2C brand to be present on LinkedIn.

Is a LinkedIn company page free?

Yes, it is free to create a LinkedIn company page and begin sharing content. To create a free LinkedIn company page, a user just needs a company name and a company email address. However, you'll need to pay for the platform's premium features, including sponsored content and advertisements.

How to develop an awesome LinkedIn company page

Creating an effective LinkedIn company page boils down to your branding, linking and content. These three elements combine to establish your brand presence, encourage engagement and drive conversions (whether that's identifying job candidates, gaining followers, making sales or something else entirely).

1. Branding

It is important to have your basic branding ready to go when making your LinkedIn company page. A logo and branded cover photo are among the first things users will see when they navigate to your company page. Make sure these components are eye-catching and consistent with your branding efforts elsewhere.

Remember the nonvisual elements of your brand as well, especially when developing the content of your company page. Your brand message should be reinforced on your company page, and everything should be written in your brand's voice.

2. Linking

It is great to get visitors to your LinkedIn company page, but it is even better if they click a link back to your website (especially if you are an e-commerce business). Make sure users have the opportunity to do just that by prominently displaying a link to your company's website just below the tagline.

3. Content

The content you share on your LinkedIn company page is what will attract your intended audience. Incorporate what you already know about your audience into your content creation. For example, if you are looking for young professionals interested in a career in technology, you should develop content that resonates with adults between 18 and 35 who have an interest in technology. Growing your following is important, but it is critical to grow the audiences you actually want – not every follower is created equal.

Search engine optimization also matters. Including relevant keywords in your content can help people find your brand through relevant searches. For example, if you own a retail shop, be specific about the products you carry, as users searching for those products will be more likely to encounter your brand.

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