Small Business News: Where Are We Headed?
Where is small business headed? There are many trends out there, but a few important ones emerging include increased online marketing by small business and increased tensions between big government and small business leaders as economic hard times continue. In today’s business news roundup, we look at the specifics of how these trends are playing out in the small business environment of today and will play out in the small business landscape of tomorrow. Of course, here at Small Business Trends we’ve always believed the key to the future is the leadership of small business and have always focused on supplying the tools business owners need to make change happen.
Online
What will the top search marketing trends be for 2011? Lee Oden says they break down to three basic categories. Drum roll please…We’re talking about online and offline marketing integration, mobile device and mobile search and social media advertising. Even if you broke number two down into two parts, this list would be a great resource during the seismic shifts to come. TopRank
PPC campaigns and your small business. You’re competing with the big guys when it comes to Pay Per Click campaigns, even if the entry barriers for doing business online are significantly lower than in other more traditional businesses. Still there are easy ways that small businesses can compete, if you know the right tricks. Tips include mastering negative keywords, geo targeting, keyword development, match types and more. Develope an effective PPC campaign and transform your marketing strategy online. Search Engine Journal
Operations
Does your business have an effective CRM? Developing Customer Relationship Management for your small business is one major step towards establishing stability, especially in an online business. Steps include working toward a more predictable cash flow, carefully monitoring growth, finding more customers and automating more of your operation. But it can be far from an easy task. BusinessKnowledgeSource.com
Six ways your small business can save money. Sure, your ultimate goal is to grow your business, your client or customer base and your cash flow with them. But in these tough economic times when even some governments around the world seem intent on giving up their spend thrift ways for a bit of austerity, it may also be time to cut back a bit to insure your business can live to fight another day. Also remember that any money you save could later be re-invested into more profitable projects to grow your business in the future. MarketWatch
PR
How to get blog coverage. Author Tim Ferris has claimed in interviews that in promoting his first book, The Four Hour Work Week, he actively cultivated popular bloggers by striking up conversations with them and eventually mentioning his book. The all-powerful blogosphere did the rest. But is it really that easy? Well…no. Actually, getting coverage from other bloggers is both possible and achievable. But consider these important dos and donts first. Small Business Trends
Finance
Hire a new employee and get a discount on your interest rate. JP Morgan Chase has taken a page from the federal government’s play book, offering breaks, in this case on interest rates for credit lines, to companies who add new workers. (You may recall a similar federal proposal to offer businesses tax credits for new hires.) The problem for small businesses is similar too. If your business is already planning to hire and take out a credit line, this might be a welcome added bonus. But the program will not persuade businesses to either hire or take on additional debt in a tough economy. The New Entrepreneur
Policy
Think government programs can help small businesses? Think again, writes Scott Shane, the A. Malachi Mixon III Professor of Entrepreneurial Studies at Case Western Reserve University. For all the increases of funding proposed, Shane insists money for government loan programs will address such a small sliver of the small business market in the U.S. as to be totally or largely ineffective. How do we help small businesses? Provide better access to sources of funding outside the banking industry. The American
Another look at the Senate small business bill. While it’s touted as a solution for small business financing, it’s hard to see how the bill can address the real underlying obstacle to economic recovery, weak consumer spending. Without that spending, small businesses will simply be taking on more debt without increased cash flow to address it. Instead, an effort should be made to lower government spending and taxes in an effort to spur consumer spending and small business growth. Web CPA
Marketing
Hey, there. Planning to wade into the deep end of the social media pool? Well, before you do, check out the rules at the life guard station. They will keep you from getting in over your head. Before you plunge into social media, make sure you’re ready to swim and not sink. Here are nine tips that will help you become an expert. Small Business Trends
Australians! Your customers are online. According to a post by Google in Australia, an amazing 80 percent of Australians research products online…even though the majority of small businesses in Australia aren’t represented there. Numbers are likely to be similar in other parts of the world, so consider checking where your customers are today. If you want to know why your business needs to be online, think about who will be buying your products or services and where they shop. The Official Google Australia Blog
Aflac
Known as SmallBizLady
Founder of Small Business Trends
As the owner of a court reporting/deposition firm I understand how import it is to have all the bullet points above on your radar. With modern times, the tough economy, a business owner needs to be aware of the changing way of doing business. Great article. I will definitely retweet it.
Small business should trying to cost down by outsourcing, for example, China. Not just products but also services.
II’d also like to add in “search marketing trends” that we are also headed for mobile and real-time search marketing. It’s a bit complicated but I’d like to think of it as a witty challenge for small business owners too.
There’s indeed no proper balance between government and small business. This is probably because small business that advertise online or go for online marketing solutions aren’t that easily controllable as they used to be. And I’m afraid this tensions will intensify in the future.
Lloyd Burrell
Publisher
officedeskreviews.com
Great collection of articles and resources. The social media article particularly is so important for small business marketers. Too many people start using social media blindly and expect results, but it takes a detailed strategy and lots of time to create a really effective social media presence.