Author Archives: Diana Louiso

Small Business Marketing Tips

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Marketing Plan concept with man holding a tablet computer

Do ever hear yourself say, on a really busy day, especially one with a deadline to meet…”wish that phone would stop ringing!” Really? When the phone stops ringing, it’s time to reconsider marketing in today’s connected world. Here’s a checklist you may find helpful.

  1. Create a free Google My Business account. If you have one now, congratulations, because these free profiles are among the most effective marketing strategies today. Google is the new Yellow Pages. It’s what buyers check first when looking for a new or replacement service or product.
  2. Take Social Media seriously and responsibly. Social media engagements are an excellent way to expand your reach beyond your website and print advertising. It can show a more personal side of your business, but avoid controversies, politics, or any divisive subject.
  3. Use free promotional features on Facebook. Invite your friends to “like” or “share” your page (or blog); promote contests or giveaways.
  4. Blog on your website, then share your blog on social media and via email to your customers. Avoid sharing or emailing anyone unless you have their permission to use their email address. Unsolicited postal mail ends up in a trash can; unsolicited email also is sent to Trash, but most often ends as an “unsubscribe” or “block” action on the receiver’s end.
  5. Ask customers for feedback and reviews: Ask them during an office call, over the phone or even a quick text. Give them a reason to say yes to your request for a review. For example, adding a Customer Review page to your website offers your customers a pathway to getting their name in front of your clients!
  6. Offer a referral discount or gift. Your current customers are the best source of your future customers.

What techniques can you recommend to “market on a budget”? Share your success stories (and even your flops) with us via email. With your permission, we’d like to share them with our customers. 

Looking Toward the Christmas Bonus

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As we barrel into the Christmas season, many small business owners are thinking about the annual Holiday Bonus. Owners want to let their employees know that their hard work is appreciated, and workers look forward to having that extra cash to spend on their family during the holidays.

FUN FACT
The first recorded Christmas Bonus was given out by Woolworth’s in 1899. Each employee received a $5 bonus for each year of service, up to a maximum of $25.

So what is a small business owner’s typical bonus? For some it could be nothing more than an office party with food, drink, and small gifts…even gift exchanges (which cost each individual employee more and misses the entire message of “you’re appreciated”! )  While there’s no standard rate for performance bonuses, surveys report a range from 1% to 10% of an employee’s annual salary when goals are met. Of course, executive bonuses may be much higher.

Your profits vary from year to year in line with the rate of inflation and whether it’s been a lean or lucrative year. If a company has paid cash benefits in the past, then employees may be expecting and counting on a Christmas bonus to pay for their own holiday expenses and family gifts.

If this year was more profitable than last, then it is time to show your appreciation. Employees, by far, prefer receiving cash bonuses, but if your’e a lean startup or coming off a difficult period, there are other ways to show your appreciation for their loyalty. 

At the annual Christmas party, be sure employees understand that this party is in appreciation for them! During the party, recognize each person individually with a compliment and sincere thank you. If appropriate, it’s a good time to announce new job titles or that “John” or “Jane” will now have extra responsibility because of their past performance. Announce new learning opportunities for the coming year that could lead to pay raises. Or give the second most appreciated gift, paid time off, even if it’s just a day.

The post-Covid year of 2022 has seen the so-called “great resignation” with many people quitting their job to start their own business or to change employers and even careers. Plan now how you can show your appreciation this holiday season, whether or not it be a financial one.

Footnote: For more ideas, we suggest reading 12 purpose-filled alternatives to the Christmas bonus from Management 3.0.

Attracting Young Workers

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Are you having trouble filling positions at your small business? As a business owner, do you fear that your younger employees who entered the workforce during the pandemic-affected economy may quit tomorrow without notice? You’re not alone.

The recent years of stagnant wages and rising inflation are taking their toll on workplace employment, especially in certain labor markets like transportation, health care, social assistance, recreation (including amusement parks like Kings Island) and food service.

June 2022’s unemployment rate was 3.6% compared to 14.7% in 2020. In June, the U.S. job market struggled to find people to wait tables and staff factories. The demand was so high that employers tried to lure older workers who left the workforce during the pandemic to return, if for no other reason than to keep up with inflation after an unsteady stock market has left their 401(k)s in jeopardy. 

The conversation young workers used to have about their “dream job” now gets the response “I don’t dream of labor.” They tend to be anti-capitalism and view work as a financial necessity where they are overworked, underpaid, and under-appreciated. According to Business Insider, Gen Z workers are more likely to change jobs more often than any other generation, especially if it means a higher salary. Loyalty is replaced with disdain for a what they refer to as a “toxic workplace” whetheror not it actually is.

The National Review recently published some quotes from young TikTok users:

“Life is about so much more than working yourself to death. I don’t want to keep working 40 hours a week, coming home only to have four hours a night to spend with my kids and boyfriend, and do it all again the next day.”

“I don’t want to be a girl boss. I don’t want to hustle. I simply want to live my life slowly and lay [sic] down in a bed of moss with my lover and enjoy the rest of my existence reading books, creating art, and loving myself and the people in my life.”

“I don’t have goals. I don’t have ambition. I only want to be attractive.”

According to Forbes, millennials value flexibility and freedom, and GenZ cares about job security. Read the article and share your thoughts with us. 10 Ways to Attract Young Talent to Your Company »