Tag Archives: London Virtual Office

3 Top Ways to Improve Your Small Business Marketing Using Psychology

 

Here at Hold Everything, our main concern has always been for the small business which is why we are enthusiastic to dispense helpful information about small business marketing. Which is why we are glad to share advice from Melinda Emerson’s site who is a recognised American guru on small business marketing ideas.

Small business marketing can be tough sometimes. As well as focusing on lead generation, you have to spend time nurturing and pushing customers through your sales funnels to create essential customer loyalty. Sometimes, you could benefit from extra strategies to give your small business marketing an edge. Using the power of psychology in your marketing will add power and potency to your marketing messages, generating more customers and ultimately, more sales for your small business. 

How to Use Psychology to Boost Your Small Business Marketing

In this article, we’ll take a look at 3 ways to use psychology to make sure your small business marketing is as powerful as possible.

The principle of reciprocity states that humans have a tendency, as well as a need, to want to give something back when they receive something. Or, put another way, people feel obligated to do something when something is done for them. This is GREAT news for your small business marketing! 

You can use the principle of reciprocity for new customer acquisition as well as nurturing existing customers by simply giving them something extra. A discount, a free coffee, a free product from your store or another free benefit. These strategies give customers extra value and the result is that they’ll be more likely to spend money or leave a review for other products or services (which boosts your brand awareness as well as sales). The principle of reciprocity is an important psychological tool for developing stronger and longer-lasting customer relationships too. It’s a win-win.

Top tip: Use your ‘gift’ to make customers feel unique and valued. Achieve this by using demographic insight or use existing customer data to send individualised rewards to each customer. 

2. Social Proof: Get Those Reviews

Think about it, when you see a long line at a store or restaurant, you immediately want to join it, don’t you? In your mind, something must be worth having at that business because so many other people are waiting to get in. That’s social proof- the psychological theory that says we all want to have or do what everyone else is just because they are. This is a really powerful marketing tool for any small business. 

You can capitalise on social proof in your small business marketing by building strong social media profiles on platforms such as Instagram or gathering great reviews on Yelp or TripAdvisor. For your customers, seeing how other people have visited, interacted with, or purchased from your business will make them want to do so as well; it’s kind of like FOMO (fear of missing out) for small business marketing. Taking the time to constantly boost your social proof by asking for user-generated content or customer reviews will really pay off, so don’t skimp on it.

Top tip: Make getting those essential reviews easier by automating your review request process via email or push SMS. Making it as easy as possible for every customer will increase your social proof, leading to more reviews and more customers.

3. Halo-Effect: Supercharge Brand Awareness

Every small business knows that for customer sales and new leads, brand awareness is essential. But the halo-effect takes brand awareness to the next level

The halo-effect is the tendency for positive associations of a person, brand or company in one area to influence positive associations for other areas too. For any small business, this amplification of brand values is a marketing goldmine. 

Use social media platforms to continually promote your brand reputation to customers and followers. Include case studies, testimonials and ask for user-generated content on Facebook, Instagram and Snapchat to consistently share what makes your brand or business great. 

Top tip: Your customer stories and experiences are essential for boosting your halo-effect. Make asking for reviews and user-generated testimonials a clear priority, highlighting every single time your small business does something great.

Psychology Can Amplify Small Business Marketing

Small business marketing is constantly developing. Small businesses need to create stand-out marketing campaigns that not only create new customer leads, but that also help generate lasting customer loyalty too. From the principle of reciprocity to the halo-effect, your small business marketing will benefit from utilising psychology and the tendencies of human nature to amplify your message and reach. Your marketing will be more powerful and cost-efficient, helping to make sure your small business is a lasting success.

Remember, the team at Hold Everything are waiting to help you expand your small business projects by giving you the support of a prestigious London office base and a helful secretarial team to answer your phone and forward your mail.

 

Some Great Tips To Expand Your Small Business

We all look at our small businesses and think ‘how can we develop in a good, strategic way?’  A very interesting article in the entrepreneur site has some great suggestions for all of us.  Here, then are 5 top tips from a world acclaimed source.

1. Develop a company culture.

A strong company culture is what will keep your small-business team together during times of exponential growth. If you’re not sure where to start, ask yourself and your team questions such as:

Why does our company exist?

Why do we do what we do?

What does our company believe in?

What are our values?

Where do we want our company to go, i.e. what’s our company’s vision?

When employees feel connected to your company, they’ll be more likely to stick it out through uncertain times. Plus, a strong company culture can actually attract new customers to your business, so be consistent with it and splash it everywhere, including your website, social-media platforms, marketing materials, etc. When your target audience can see the values behind your company, they can connect with your business on a deeper level.

2. Hire the right people. 

The hiring stage is critical to growing your business successfully. It’s important to take your time and find the right people for the job. Do so and things will go swimmingly. Hire the wrong people, and all of your hard work will come crumbling down. To avoid the latter fate, consider recruiting people based on their technical skills and experience. You should also determine if they’ll be a good fit during this time of growth. For instance, you could ask a candidate how they interpret your company’s vision to see if they’ll mesh well with your team. Startup life isn’t for everyone, so find employees who will be eager to take on the challenge.

3. Focus on innovation … in the right places.

When expanding your small business, you might be tempted to spend a bunch of money on improving your product or creating/offering more products. Instead, focus on innovation in other areas. As one example, try innovating your onboarding experience or adopting new technology like live chat to scale your customer service, as with this savvy Petplan campaign. Innovating your current processes will take up less of your resources, and it’s critical when growing your customer base. Once you’ve achieved more stability, then you can think about introducing new products.

4. Build brand recognition. 

When a consumer sees your logo, advertising campaign, product packaging or slogan, you want them to be able to recognize it as your company. This all comes down to building brand recognition. Take Nike’s Iconic “Just Do It” slogan. When consumers hear that phrase, they instantly know whose behind it. Your small business might not be able to reach Nike-levels of immediacy, but you can still work to become a well-known brand among your target audience. An easy way to do this is to start networking more often on social media. The more times consumers see you online, the easier your company will be to remember.

5. Don’t forget about existing customers. 

Many small-business owners focus too much on getting new customers and not enough on keeping the ones they already have. In fact, according to statistics from Small Business Trends, just six percent of small businesses focus on customer retention. To make your existing customers feel valued, consider creating a satisfaction survey that allows you to gain insights on what your customers love about your business currently, what could be improved and what they’re looking forward to regarding your expansion. You can then use this feedback to improve your business and reduce customer churn. After all, customers who are happy with your business will be more likely to spend more money and recommend you to their family and friends.

 

Climate Change Affects London Business Too.

We have all been watching in amazement over the last few weeks as the young Swedish schoolgirl Greta Thunberg lectured world leaders on the environmental disaster facing all of us.  So in our latest weekly news report we have looked at recycling and the problems we face in our capital.  Waste collection giants Biffa have been complaining in the media that labelling is inconsistent and incoherent and discourages us from recycling enthusiastically.  Our very own Mayor Sadiq Khan is pushing his heating cashback scheme to persuade London businesses to upgrade their boilers and cut back on the pollution they produce in our industrial zones.

At our virtual office centre here on Regent St we are aware of the pollution from an endless flow of buses and taxis along Regent Street.    We do, of course, keep many business workers from making a daily commute to Central London by letting them work from their home office and let us be their face in London’s West End.   Since we work for many overseas companies providing them a virtual office service we also help them save their carbon footprint in travelling to London unnecessarily.

Nobody knows just how serious the climate change situation is, there are far too many agendas being promoted in the media but it is certain that it is in all our interests that London remains a clean and unpolluted working place.

 

Benefits Of Using A CRM System

At Hold Everything, the virtual office company based on London’s prestigious Regent Street  we have been using a CRM System to help run the business now for a period of time. Currently we are having our own bespoke system written to manage some areas of our business which the current system doesn’t offer.

What is a CRM system?

CRM stands for Customer Relationship Management. This is a computer system that facilitates the collecting, organising and management of customer information which essentially creates a database for you and your company. CRM systems are designed to streamline your processes within your organisation and can be an extremely important management tool.

How can a CRM System help your business.

  1. Help Improve Customer Satisfaction

All communication with the client/customer can be recorded onto the CRM system, this will help you provide a better service for your clients as you’ll be able to quickly retrieve all activity concerning that client. Also, by using this strategy, all productions such as servicing, marketing and selling your products or services to your clients can be conducted in an organised and systemic way.

  1. Improvement of Customer Retention and Revenue

This is a golden CRM benefit, by using the data collected on your system your team can proactively address any at-risk/soon expiring accounts as well as reaching out to satisfied customer/clients to help encourage repeat purchases and upselling of existing services. You’ll be improving your customer retention rates – which should translate into increased revenue for your business.

3. Maximise your Business Performance

By using a CRM system this can help maximise your business performance by increasing your up-sell (where you are offering customers an upgrade relating to their purchase) and cross- sell (offering complementary products/services that are in the same category of their purchase) opportunities. By using both sales strategies which can be easily conducted with a CRM system you will have a complete understanding of their wants and needs as all the client information will be easily accessible and viewable and you can be prompted on when to use your sale techniques.

  1. Improvement on Internal Communication

By having a CRM system in place this helps build up better communication within the organisation. Sharing the customer data between departments will encourage and enable you to work as team. Each employee will have access to answer the customer/client questions involving their services or products. A major benefit of this allows a healthy, functioning, well-informed team which overall will help increase the company’s efficiency and offer a better service to your customers.

  1. Optimise Your Marketing

Another brilliant CRM benefit is allowing you to optimise your market by using a more targeted and cost-efficient marketing programme. By understanding your customer/clients needs and behaviour you will be able to identify the correct time to promote new products/services and promotions. The CRM system will help you divide your customers and give you an insight into which are the profitable customer/client groups to market at. By using the data provided you will be able to set up relevant promotions for each client group and execute them at the correct time. By optimizing your marketing resources in this manner will give you the best possible chance of increasing your revenue.

  1. Valuable Insight to your Organisation

And lastly, want to know how well your organisation is doing? As a CRM system stores all information in on centralised place this makes it a lot easier to analyse your performance. By being able to pinpoint certain information e.g. revenue generated leads/new clients you will be able to generate reports which show this information in clear and precise way. By being able to report data this will help you make more effective business decisions and improve your revenue in the long run. Which surely is the aim of the game for most?!

As mentioned, you can clearly see there are range of CRM benefits that will improve your business whatever size it may be.

So where do I find a CRM System? 

A simple internet search via one of the major search engines will bring up a multitude of choices from companies such as:-

https://www.salesforce.com/uk/

https://www.act.com/en-uk/

https://www.hubspot.com/

https://www.zoho.com/

As with all internet usage there are comparison website that cover the top 10/15 CRM systems, below is one link but the internet searches brings up others options as well.

https://financesonline.com/top-15-crm-software-enterprises-analysis-leading-systems/

Alternatively, you can get a system written just for you.

Rafi Galibov of The Positronic Group says:

‘If you need a CRM, but none of the ‘off the shelf’ CRM’s do exactly what you need, you should contact a developer who can create a ‘bespoke’ CRM for you, one that does exactly what you need to start with and can grow with you and your company.’

The Positronic Group – Bespoke Database Developers using Servoy to create cross platform solutions.

So CRM or no CRM for you – off the shelf or bespoke.

9 Good Reasons Why Your Small Business Needs a Solicitor.

Yes we know they can charge seemingly outrageous fees for writing a letter or checking a contract but there are many good reasons to budget for legal advice for your SME.  Roz Gee writing in blackenterprise.com puts her finger on the 9 key issues.

1.Debt Collection: Many small businesses have trouble collecting money owed to them and can’t afford to give up a percentage of the debt to a collection agency.

2.Contract and Document Review: This is critical because of the need to be professionally advised and gain a thorough understanding before important papers or documents are signed.

3.Contractor or Supplier Disputes: It’s good when relationships are working well and functional, but when things go awry, it’s better to have the right representation if or when your company has contractor, vendor, or supplier conflicts that surface.

4. Internet Security Breaches: With the rising increase of sophisticated system hacking and data compromising, your company needs to be protected against internet predators and hijackers.

5.Product Liability Issues: The marketplace is no stranger to rapid product recalls and other issues that affect the functionality and operation of products. Having skilled attorneys could prevent unnecessary hassles and headaches as well as protect your brand.

6. Insurance Disputes: This is to safeguard your business against those insurance companies who deny or dispute claims of businesses or their properties.

7.Employee Theft: Unfortunately, no business owner wants to ever deal with major internal thievery whether intellectual property, monetary, or proprietary assets. But the reality is, employee theft happens even when the best processes are enforced.

8. Tax Audits: Although you may have a CPA, sometimes things still fall through the cracks, which may require an audit. You need to know that you have access to the right legal representation to help you navigate these potential pitfalls.

9. Threats of Customer Lawsuits: With the proliferation of lawsuits that continue to mount in this country alone, it’s assuring to have peace of mind of knowing you can defer to a legal professional who is actually on your team.

The Law Society can advise you of a suitable lawyer for your small business.