5 Social myths that cause missed opportunities

Social networking is a common time trap for many small business owners. Although we recognize the importance of getting out and meeting people and networking, you do have to be mindful of the real purpose of networking – to put you in close or closer proximity to your ideal clients. Don’t be discouraged by your lack of social media skills and don’t be presumptuous in thinking social media is a cure-all. Here are some important myths to keep in mind when it comes to incorporating social media into your marketing efforts:

I don’t want my private information out there. Many business owners who are unfamiliar with how to actually use social media are concerned about their personal information being available for all to see. The truth is, you can limit what information you post to your profile. More people do themselves harm, by posting unfiltered comments and photos.

That’s for kids and “young folk.” Social Media is not a “trend,” it’s a vital and necessary business tool for all businesses. You simply cannot deny the fact that every day technology advances. It allows us to do things quicker, access information and resources in seconds and connect with people from across the world. The truth is, the “young” may simply adapt to the use of technology faster. The longer you take to adapt to the continuous growth of technology and social media, the bigger the gap will be between you and your clients.

My business doesn’t need it. Regardless of what business you are in, social media has a purpose for EVERY business. It can be used to solicit, engage, communicate, sell, announce, inform, educate, contact, manage, maintain, provide and more. All of which are important to the purpose of a business. You always want to have more clients in your pipeline than you can service and more people interested in your product than you can supply. The truth is, the sole purpose of being in business is to provide a quality product or service that meets the need of a designated target market. To effectively do this, you need to be able to reach your target market from a variety of platforms and that includes social media.

Posting your product or services will automatically generate clients. Social Media is not a “cure all.” It is a supplement to traditional networking and marketing techniques. You cannot replace personal touch with technology. People buy from people and businesses they trust. To build trust, you have to engage people in dialogue, be accessible and keep the lines of communication open. The truth is, you have to have a strategy to social media. Who are you trying to connect with? How do they want to be communicated with? What are their needs? Where do they look when they need your product or services? Why should they choose your product or services?

More contacts means more business. Just because you have 100 people following you or connected to you doesn’t mean they need what you are selling. Your product or service needs to be relevant to meeting your target market needs. Having a lot of contacts is merely a means to “spread the word.” The truth is, have more contacts simply provides you with an opportunity to share your information with more people. That’s it. Whether or not they “purchase” from you takes much more and requires a carefully planned strategy.

Online financial transactions are not safe. We’ve all heard tragic stories of people making online purchases only to be defrauded or have their identity stolen. The truth is, you can take precautions that will dramatically reduce, if not eliminate, the occurrence of fraud or theft. For instance, when you make online purchases, look for trusted symbols like Verisign, Trustee and Better Business Bureau. DO NOT respond directly to emails from your bank, PayPal® or other financial institutions. ALWAYS log-in from the official financial institution’s home page from the search menu or your saved file. Also, carefully examine the return email address. For example: (SPAM) paypal@solonet.co.id (REAL)service@paypal.com DO NOT use links found in your email, log-in separately online. Spammers have been known to send fraudulent messages wanting you to verify your personal information. NEVER verify personal information for a financial institute online. ALWAYS call the 800# found on your card.

Check out this fascinating video about the reach and effect of social media: Social Media Revolutionhttp://youtu.be/sIFYPQjYhv8

There should be a method and purpose behind your social networking efforts. Know what it is you want to accomplish (i.e. meet a decision maker, meet potential collaborative partners, ask questions for market research, connect with others in your industry, etc.). Your goal should not be to simply hand out 20 business cards.

Need help getting started with simple and easy social media skills that work for YOU? Be sure to check out Micro Business Therapy for additional information and support or ask about a customized Micro Business Plan for social media. Don’t forget… I want to hear from you. Share your comments and questions below! To address your specific concerns, Skype me: amichelleblakeley or email me at info@simplicitymastered.com Did you enjoy this article? Subscribe to Simplicity Mastered RSS and never miss a post!

WANT TO RE-POST THIS ARTICLE ON YOUR BLOG OR USE THIS ARTICLE IN YOUR EZINE, E-NEWSLETTER OR WEB SITE? You may, as long as you include this complete blurb with it:

For over 18 years, Simplicity Mastered™ founder and CEO A. Michelle Blakeley has owned or managed small businesses and nonprofit organizations. Expert in her field, Blakeley personally guides her clients out of their Business Brain Freeze™ to streamline operations, increase return on investment, and attain quantifiable results. Forbes.com and FinancialPost.com each recommended her as one of 30 Women Entrepreneurs to Follow on Twitter, joining the experts who know that Blakeley is a master at growing small businesses … and doing it with “Simplicity.”

 

Why Freebies Can COST You

Recently, Ning announced that they were laying off 70 staff and no longer going to provide their social networking platform as a freebie. Ning’s COO Jason Rosenthal said they would stop offering free services, forcing networks to either pay or move (http://ow.ly/1BNke). Although it is not unusual for us to hear about the need to downsize and tighten belts, it is unusual to hear about such a large social networking venue to suddenly charge you for what you become accustomed to and enjoyed having as a freebie.

Just what is the cost of providing services and products as freebies? First of all, just because you offer something for free doesn’t mean people will want it. Offering products and services at no cost can be tricky. Giving away products and services that you promote as “valuable” actually decreases in value the more you do it. Although one man’s junk is another man’s treasure, what’s the value in something that you can get anytime you want? Just how long can your business survive when you are giving away everything with everything?

How much is too much? What happens when you can no longer afford to give away your products and services? What do you do? Do you grandfather your existing clients with the freebies and only charge new clients? Do you abruptly stop providing the freebies and only provide the products and services that cost?

Providing sessions, teleclasses, products, books, etc. as freebies are all great ways to get your foot in the door but when it is done in excess and/or over time there are risks. Those risks could cost you more in the long run. The last thing you want clients and potential clients to feel is like they’ve just experienced the “bait and switch.”

3 ways to avoid the costly mistake of providing products and services for free:

1. Have a time limit. This will help let clients and potential clients know that it is only for a set period of time and that they can anticipate having to pay for those said products and services in the future. Even if you use the term “for a limited time” or “limited supply” it gives the viewer notice. They should understand that it might not be available or expect a cost at some point in the future.

2. Attach the free product or service to the purchase of a product or service. Create a win-win scenario by offering a “bonus” item to the purchase of a product or service. You get a sale, but the client gets something extra of value without you giving away the kitchen sink.

3. Use the free product or service as a platform they can upgrade from. Keep the freebie a bare bones type of thing and keep the bells and whistles as something of value that they should expect to pay for. Many technology platforms use this type of technique as seen in “basic, premium and platinum memberships” etc.

One final note, if you utilize and incorporate a product or service into your business that does not have a cost attached to it, be real clear about the risk of having to pay for that product or service later and how it will affect your business. Weigh the pros and cons carefully and know that should the bill come in the mail one day, you will gladly pay it because it is an integral part of your business functionality and success.

It will be interesting to see what the fallout is for Ning and those clients who now feel slighted and perhaps offended to have to pay for services they’ve been enjoying for an extended period of time. It will also be interesting to see how many clients can’t afford to stop using Ning because it is entwined in their business.

WANT TO RE-POST THIS ARTICLE ON YOUR BLOG OR USE THIS ARTICLE IN YOUR EZINE, E-NEWSLETTER OR WEB SITE? You may, as long as you include this complete blurb with it:

A.Michelle Blakeley is the Founder and CEO of Simplicity, Inc.; a progressive small business development firm. She manages her clients’ business expectations and prevents information overload via Micro Business Therapy™ and Micro Business Action Plans. She is featured in Forbes.com and the Financial Post as one of 30 Women Entrepreneurs to Follow on Twitter, contributor for the San Francisco Examiner, the host of Simple Truths for Women Entrepreneurson BlogTalkRadio.com and author of the NEW e-book: “Get it Right and Move Along… a collection of practical tips, tools and techniques for small business owners.”

9 Powerful Social Networking Sites for Women Entrepreneurs

What is the real power behind women entrepreneurs? A study by the Center for Women’s Business Research shows that women now own 40 percent of private firms, women-owned businesses generate about $3 trillion in revenue and employ 16 percent of the workforce; making them significant players in the national economy. In addition, the study found that 85 percent of women surveyed do not believe being a woman is detrimental to their business success, and 32 percent believe being a woman is beneficial.

There is power in being a woman entrepreneur. There is even more power in the collaborations that are formed among women business owners. Whether your product or service is exclusively for women or not, you simply cannot deny the intrinsic inclination to support each other and champion each other’s cause.  Why not use that to our advantage? The real power in women entrepreneurs lies in our ability to connect, support and encourage each other straight to the top!

Below are 9 powerful social networking sites for women entrepreneurs. CAUTION: Your business could increase and expand if used wisely.

1. Empower Me! – From blogs to websites to networks and everything in between, there is something for every woman. @talentdiva

2. Diversity Woman – Executive network for women of all races, cultures and backgrounds.

3. International Black Women’s Collaborative – The perfect platform for creating new personal and business connections. Live Local and Think Global!

4. Ladies Who Launch – Find information on successful women entrepreneurs as well as resources for women. Ladies Who Launch is an online and offline social network that provides opportunities for women to move their businesses and personal goals forward. @ladieswholaunch

5. Minority Women on the Rise – profiles successful women entrepreneurs from coast to coast, who are successfully running thriving businesses. @sylviabrowder

6. Pink Magazine – PINK represents more than a color. It´s a badge of honor celebrating a global mission of equity and opportunity – a movement acknowledging all that women are today and will be tomorrow.

7. Savor the Success – is a social network that connects entrepreneurial, professional, and creative women while helping to build big dreams in a real way @savorthesuccess

8. Women Owned – information, tools, networking opportunities and advice that has helped hundreds of thousands of women. Women just like you – starting or growing their business.

9. Women’s Peer Network – Only join if you want to improve your business contacts. @thebizwoman

Remember, use these networks to help develop your personal support team, strong collaborations and collective influence. Connect with the appropriate people,  your ideal potential clients,  those who serve your ideal potential clients,  decision makers and be sure to make a few friends!

Be mindful of the time you spend networking. Have a purpose, listen twice as much as you speak and give until your heart is content. Girl Power!

Do you know of more sites? Please add them to the comments.

WANT TO RE-POST THIS ARTICLE ON YOUR BLOG OR USE THIS ARTICLE IN YOUR EZINE, E-NEWSLETTER OR WEB SITE? You may, as long as you include this complete blurb with it:

A.Michelle Blakeley is the Founder and CEO of Simplicity, Inc.; a progressive small business development firm. She manages her clients’ business expectations and prevents information overload via Micro Business Therapy™ and Micro Business Action Plans. She is featured in Forbes.com as one of 30 Women Entrepreneurs to Follow on Twitter and the host of Simple Truths: Intelligent. Insightful. Informed. on BlogTalkRadio.com.

Your Time is Valuable, Network the Smart Way

With so many social networking sites and events to attend, it is difficult to know which ones will bring you the most value. Not all groups and networks are the same and to help grow your business, you’ll want to be connected to more than one. However, time is money and you can’t afford to aimlessly attend networking events or spend valuable hours online. Before you attend your next networking function or sign-up for that new social networking site, set some ground rules for yourself. Know what it is you need and expect in return from your participation.

Each networking group may offer you something another does not. The more you know and understand your needs as well as well as your clients needs, the faster you can recognize real opportunities to connect and make a sale. Be prepared to not only connect with potential clients, but with potential power partners (businesses that provide complimentary products or services) as well.

Consistency in attendance and contribution is key for ensuring people have an opportunity to get to know you, what you have to offer and how they can help you.  For online venues, make sure your profile is updated regularly, contribute to discussions and reach out to participants. For live venues, always be prepared with business cards, offer to meet for coffee or a conference call to continue your discussions and learn more about each other; and keep in touch.

1. Participants – Know beforehand if there will be potential clients (those that match your client profile) in attendance. For online venues, are the members geographically located near you and does that matter? How many leads or referrals can you anticipate from your networking efforts per month? Just as important as potential clients is connecting with potential collaborative business partners. You can find this out ahead of time by reviewing the membership roll or directory.
2. Opportunities – Know beforehand how many will be in attendance or how many are members? For live venues, will there be an opportunity for you to give your elevator pitch or speak to the group? Also, are the same people showing up each week or month? Is the group stagnate or constantly looking for ways to grow and expand? For online venues, do they include platforms that will allow you to directly connect with potential clients and collaborative business (i.e. live chat, IM, etc.)? Depending on the amount of potential clients and collaborative partners, you will need to determine how much time you have to devote to connecting and cultivating relationships with members.
3. Benefits – is there a membership fee? Take advantage of the free trials; but use them when you have an adequate amount of time to really go through and utilize the site. Find out about all of the member benefits. You need to be able to justify the membership fee with the likelihood of generating actual sales. You should track your conversion rates as well for benchmarking purposes. In addition, do they allow for corporate sponsorships for increased exposure? For online venues, can you cross-promote or advertise your business on their website? Does the networking group promote referrals to members?
4. Time – For live venues, when, where and how often do they meet? How will that affect your current workload? Online venues are generally more flexible with time. You can log-on at your convenience. However, again, consistency in regards to your presence and participation is imperative.

Get back to basics and focus on the fundamentals of operating your business. Ensure your business tasks and activities are revenue generating or conducive to the growth of your business.

 

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