6 tips for improving your SMB’s Facebook page

Although some view Facebook as a strictly social platform reserved for selfies and political rants, its $350+ billion market value screams otherwise. While it isn’t something you should be shoveling money into, it probably is a sales avenue you’re neglecting. Aside from purchasing ads, there are a host of FREE ways to go about improving your SMB’s Facebook page. We’ve listed six of our favorites here.

Use video whenever possible

Recently, Mr. Zuckerberg himself was caught opining about the value of video in social media. And while there hasn’t yet been any news about newsfeed algorithms giving preference to video, it’s definitely a safe bet when compared to texts and graphics. Facebook Live is an excellent way to engage your subscribers, and there are several ways to leverage it for increased profitability. Whether it’s an Ask Me Anything segment or a promotional announcement, hit that record button more often for more engagement.

Facebook only promos

While we’re on the topic of promotions, make sure you’re creating some that are only available through Facebook. If you’re simply reposting those from your website or e-commerce store, it’s harder for followers to justify maintaining any interest in your page. Use Facebook Live or a pre-recorded video to introduce a better-than-usual discount on your products or services. The key here is getting customers to actually visit your page, so make sure it’s not a coupon code or a link they can just pass on to friends. Ask the first 100 viewers to post their email address in the comments section of the video. If their increased dwelling time doesn’t make a lasting impression on them, it probably will make an impression on their Facebook newsfeed algorithm.

Facebook CTAs: use them and update them

Unbeknownst to most, the ‘call to action’ button on your business page can be edited to display more than a dozen different messages. Experiment with the different messages and where they link to. You’ve probably stared at the CTAs on your .com page for hours, hoping to come up with a hard-hitting sell — why wouldn’t you do the same on Facebook?

Don’t just link to yourself

The most insightful page will always be the most valuable one. If someone has already liked your page, they know you exist and they have a decent idea of what you sell. Make sure to take a break from posting links to your site, and include relevant news and information that relates to your field. If your merchandise is videogames, inventory updates aren’t going to provide much value to your followers. Post third-party reviews of items you stock or industry news that readers will find interesting.

Pin to top function

When you find the post that keeps followers coming back for more, why bury it beneath more recent and less popular posts? Click the arrow in the upper-right corner of the post and select Pin to Top. This will keep it above everything else and impossible to miss for anyone visiting your page. It could be anything we’ve already discussed in this article: promotions, videos, popular third-party content — anything timely and relevant.

Be personal

Lastly, use your company’s Facebook page as a place where followers can engage you on a personal level. There are countless opportunities for stiff, formal business language and attitudes, but social media isn’t the place for that. Post fun, behind-the-scenes photos of your business, respond to comments in a conversational tone, make jokes — anything that sets your page apart from your customer service accounts.

Facebook may be free, but that doesn’t mean a profitable page is a walk in the park. For all the latest tips, trends, and features, you’ll need an expert. Exploiting social media for your bottom line is a slippery game, but it’s one we play every day. For a partner who can turn your ‘Likes’ into dollars, contact us today.

Published with permission from TechAdvisory.org. Source.

How to calculate your technology ROI

When purchasing new technology, how often do you consider its return on investment? For many business owners, calculating ROI is a tricky task that is sometimes skipped altogether. It shouldn’t be because if IT isn’t saving you money, it’s costing you. Here’s how you can gain a better understanding of technology ROI and how you can calculate it in your business.

ROI basics

What does it mean to have a positive return on investment? It’s pretty simple. A positive ROI means the results a technology produces are greater than or equal to the amount of time and money invested. Obviously you want a positive ROI, but when is the right time to consider it? Should it be before or after you make a technology purchase? The answer is both. Before purchasing, you want to carefully consider whether a technology service or product is worth your money. Then months after you’ve implemented it, you should analyze whether or not you made a good investment. Doing this enables you to learn from your mistakes (if you made one) and make a wiser technology purchase next time.

Also, don’t forget to look at your technology currently in use. Ask yourself, is your technology simply keeping the lights on? Or is it providing a solid foundation for your business to grow? If the answer is the former, there are likely better options out there worth trying.

How to calculate ROI

When calculating ROI, it doesn’t have to be perfect. Here is a simple formula to get you started.

ROI = net gain/cost
Example: You spend $100 and make $150. Your net gain is $50
ROI = 50/100 = 50%

If you’ve yet to purchase a service or new equipment, you obviously don’t know how much profit it will generate. So you’ll have to do a bit of guesswork and estimation. It’s also important to consider some intangibles. Think about the productivity costs of staff time, disruption, and frustration (because most of us don’t work effectively when frustrated). Let’s take staff time for example. How much time will your staff save if you implement a Managed Services solution? With your employees no longer having to put out IT fires daily, what if your entire staff saves 50 hours a week because of it? How much does that add up to in saved salary expense? It’s important here not just to think about the savings in time, but also what your staff could be doing with those extra 50 hours. They could put those hours towards marketing or growing your business. And that alone could make up for the costs of the technology investment itself.

Intangibles don’t just apply to saving time, frustration and disruptions, but also the costs of implementing the new technology. For example, how much time will be required to train your staff on the new technology? What’s the cost of that? Also, how much time will it take to migrate from your old system to the new one? You should consider all of these when estimating your ROI.

Lastly, don’t forget to consider the unique circumstance of subscription purchases. Since you are usually paying these on a monthly basis, it can be a bit tricky to add up real costs. That’s why it’s important to use a timeline for these. For example, if you subscribe to software as a service, what’s the cost of that plan over the course of one year or five? How much money will you save over that time span?

What’s the benefit?

Besides the staffing example mentioned above, consider how a technology investment can create new revenue streams. For example, an investment in VoIP opens up an opportunity to offer video consulting to clients in parts of the country (or even world) that would normally be out of reach. This obviously leads to a new revenue stream and increased profits. So ask yourself, can the technology you’re considering create new revenue streams?

Next steps

Before making a technology purchase, it’s wise to talk with both management and end users about your decision. If you fail to consult your end users before implementation, they may disagree with your decision and therefore take longer to adapt or even rebel against it. Checking with them beforehand gives them a chance to offer valuable feedback on how it will be used in the trenches, and will get them onboard with the technology if you implement it. As for your management team, they can be a valuable resource to bounce ideas off of and gain insights about the technology you may have overlooked.

Lastly, ROI does not need to be calculated for every purchase. If you need to buy something small, like a new keyboard, just go and buy it. Save your ROI calculations for much larger investments that can have a dramatic impact on your business.

If you need help determining the ROI of a potential technology investment, feel free to give us a call for a chat. Our experts can help you determine the true benefits of a given technology and help you make a wise investment.

Published with permission from TechAdvisory.org. Source.

How to get a return on social media marketing

Do you ever feel like you’re the only business owner who struggles to market their company through social media? Are you confused as to why you’re not gaining any traction? Well, you’re not alone. A recent survey reveals that many small business owners struggle gaining a return on their social media marketing efforts. Here’s how to avoid the mistakes of the majority.

Survey details

The survey was conducted by a small business directory and support network known as Manta. They surveyed 540 of their small business members with the aim of learning how much ROI these companies are gaining from social media marketing.

The results

Based on data on the 540 participants, 41% of businesses are receiving a return from social media marketing, which leaves nearly 60% with nothing to show for their investment of time and money. And as for the businesses that are gaining a return, over 80% earn less than $1,000 a month from their social media efforts. More surprisingly, close to half bring in less than $100 a month.

As a small business owner, should these numbers be cause for alarm? According to the CEO of Manta, John Swanciger, part of the reason the return is so low for most businesses is that their social media priorities are misguided. He notes that social media is less about bringing in new customers, and more about community building. “For a long time, the mantra was that social media could bring in new customers,” he says. “In reality, social media is a community builder, and your biggest fans are your already-loyal customers. When small businesses treat social media as the new word-of-mouth community, the real return will follow.”

One of the oldest marketing tactics around is word-of-mouth marketing. Every day, people recommend products, restaurants and businesses they love to friends and family members. And social media is the perfect platform to cultivate your fans’ love of your brand. But according to the Manta survey, less than 8% of business owners cited building community as their primary social media goal.

So how do you build a community on social media?

Besides the obvious investments of time and money, here are a few quick tips to get you started:

  • Regularly post content that is valuable to your social media following – the keyword here being valuable.
  • Ask your followers questions to start conversations, and then engage with them. This builds a connection between your brand and customers.
  • Show your followers that you genuinely care about them, and they’ll likely do the same for you with glowing recommendations to friends and family.

Of course there is much more to it than this, but these quick tips can help you get started. If you’re struggling with your own social media efforts and would like to learn more, we’re happy to point your business in the right direction. Call us today to speak with one of our experts.

Published with permission from TechAdvisory.org. Source.