Social Media: Determining Effectiveness as a Marketing Strategy

It is easy to get excited about Facebook, LinkedIn and Twitter and spend lots of time marketing your business online. As a business owner, if you are using these media to generate business, you need to treat them like any marketing strategy and determine their effectiveness. A strategy’s effectiveness can be gauged via the return on investment (ROI). The ROI is a calculation based on how much you get back versus what you invested (time or money).

The higher the ROI, the more ‘bang for the buck.’ By focusing on higher ROI strategies, you can eliminate the lower performing strategies and increase the revenue you are earning, in effect giving yourself a raise. This will allow you to get more done for less effort and money, optimizing your marketing and making your conversion of contacts to clients more efficient. Measuring results allows to you to monitor outcomes.

Suggested metrics for social media:

Reach: Total number of fans, friends, connections, followers, etc

Growth: The number of new contacts over a period of time.

Engagement: Level of engagement and number of conversations with potential and current customers and fans. *Insights, Facebook’a built-in analytics, lets you track valuable metrics such as page views, wall posts, discussion threads, and photo views. Check out the Insights for your page by visiting your page and clicking on View Insights.

Impact on Sales Funnel: The number of visitors from Facebook, LinkedIn, and Twitter that convert into leads and customers. Use a marketing analytics program to track the impact on your sales funnel. Google Analytics is a FREE resource that can help track your conversions through your website.

There are a few marketing plan out there can guide you through best practices in using social media for generating business. In The Mining Social Media Gold Marketing Course, there is a 6 week marketing plan that shows you how to convert contacts to clients. Based on their Facebook marketing plan, here is an example of how to calculate your ROI.

SAMPLE CALCULATIONS
*The numbers below are JUST an example. They do not represent expected results.
Reach at Beginning: 50 contacts, no groups

Growth: 200 new personal contacts, started own business page with 200 fans.

Engagement: 30 strategic posts on business page, $10 per day of ads for 30 days.

Impact on Sales Funnel: 15 requests for more information, 4 contracts, $2000 of new revenue.

Cost (Time): Approximately 30 minutes per day times 30 days of effort = 900 minutes.

Cost ($): $300.

Revenue per time: $2000 earned / 900 minutes = $2.22 per minute = $133 per hour return on time investment (ROI).

Revenue per $: $2000 earned / $300 spent = 660% Return on money investment (ROI).

How to calculate the ROI:

1. Decide what you will measure (number of contacts, number of requests, number of new contacts, number of new clients within x days of starting strategy).
2. Decide over what period you will measure your results (30-60-90 days or more).
3. Measure your metric before you start your campaign.
4. Start your campaign.
5. At the end of your campaign measure your results.
6. Divide the revenue (or projected revenue) by the time cost to determine your return on time investment.
7. Divide the revenue (or projected revenue) by the cost to determine your return on money investment.
8. Decide if the ROI (time) and ROI (money) is acceptable compared to other marketing strategies.

Remember, if using Facebook, Twitter and LinkedIn for business, monitor and track your ROI. If social media is not providing an acceptable ROI, look for other methods that may suit your business better. Social media is great, but may not be the most effective strategy for your business.

How to sell without selling: becoming a trusted advisor.

Do you find yourself trying to get clients, but they are resistant to selling???

Here is a tip to sell without selling: become a trusted adviser. This means you educate your clients about services / products that you offer, without directly selling them (with ads or promotions). As they become more educated about your industry (and you) and become more aware of their own needs; they will naturally go to you for these services. You will have become a trusted adviser, not a sales person. People like to buy, but hate to be sold.

Let me give you an example: If you were a mortgage broker and your target market was real estate agents – maybe you would set up a Facebook page dedicated to tips for helping real estate agents close more business. On that page, you would not sell mortgages, but provide helpful tips to real estate agents. One of those tips could be about how to improve the credit score of their clients. Over time, you would become a trusted adviser and when an agent was looking for a mortgage broker, they would likely think of you first. This means – you are not selling, but they are buying.

Today, the #1 product that people are buying is information. Become a source of information for your clients and you have become their trusted adviser. This will increase your number of clients and your repeat sales per client and you will be selling without selling.

To your success,

Kim

PS Got some tips that have helped you become a trusted adviser?? Please share them as a comment.

A must read for small business owners: E Myth

I first heard about this book over 5 years ago. A member of my team talked about it like it was the miracle cure for cancer. I was busy, I was already reading 5 other books and put off reading it.

Two years ago another friend (from another country) asked if I had read E Myth. Hmmm… This must be a sign.

So I got the book and WOW – I was talking about it like it was a miracle cure for cancer.

Here are 3 reasons WHY?

1. I always knew working harder was not the key – I just did not know why? E myth revealed that.

2. I knew the “super rich” much know something I did not know – E Myth revealed that.

3. I knew that had to be a system to what they and if I could find the system, I could be like them – E myth Revealed that.

If you have not read it – READ it and tell me what you think.

5 Must Have Tips to Building an Endless List of Prospects

In business, our main inventory is people. Without people we cannot sell products. When I first entered the business world, I quickly realized that having an endless list of prospects was what separated the good from the great when it came to running a business. Here are 5 must have tips on how to have an endless list of prospects that have made me millions:

Tip 1: ALWAYS have business cards with you. Now, you choose what you put on those cards. Sometimes, I would just have my name and number and let them wonder. Other times I had all the info. Here is my favorite and it offers 100 free cards: http://alturl.com/rq9n .

Tip 2: Be a GREAT listener. Be interested in THEM. Find you what they are looking for. Find out what their needs are. Find out what YOU can help them with and be a servant. You want to be like a doctor, find their pain BEFORE you prescribe a solution.

Tip 3: Whenever you meet someone – GET A CARD. This is key. I remember meeting a guy and thinking – he is not a candidate for the business and did not get his card. Then 2 months later my company ran a promotion that got me thinking – he would be a PERFECT candidate, but I did not have his contact details.

Tip 4: When you get a card – write on the card something that impresses you about the person and where you met them .This will be invaluable when you contact them later.

Tip 5: Add them to your contact management system ASAP. This slowed me down for years. I would have all these cards, but no real system or way to stay in touch. Thousands of contacts and surely millions of dollars passed me by because I could not manage my contacts. The best contact management system I found is: http://alturl.com/24nr .

By implementing these tips you can have an endless list of prospects and at a VERY low cost and a HIGH ROI — Letting you earn more and work less.

More to come…

Super Time Saving Short Cuts for Attachments + Searches

I have found that RIM has done an amazing job to make the Blackberry a speed demon, but you have to know the shortcuts.

Below is a list of super time-saving short cuts to help you navigate attachments fast and find the items you are looking for faster.

Attachment Shortcuts
The following shortcuts can be used when viewing attachments:
• To search for text in an attachment, press F.
• To move to the last cursor position after closing and reopening an attachment, press G.
The following shortcuts can be used in a spreadsheet:
• To move to a specific cell, press G.
• To view the content of a cell, press the Space key.
• To switch worksheets, press V. Highlight a worksheet. Press the Enter key.
• To view hidden columns or rows, press H.
• To hide the columns or rows again, press H.
The following shortcuts can be used in a presentation:
• To switch presentation views, press M.
• To move to the next slide, press N.
• To move to the previous slide, press P.
• To move to the last cursor position after closing and reopening a presentation attachment, verify that you are viewing the presentation in text view or in text and slide view. Press G.

________________________________________

Search Shortcuts

The following shortcuts can be used when searching in an application:
• To search for a contact in a list of contacts, type the contact name or initials separated by a space.
• To search for text in a message or memo, press S.
• To search for text in an attachment or web page, press F.
• To search for text in a presentation attachment, verify that you are viewing the presentation in text view or in text and slide view. Press F.

Your BlackBerry Buddy,

Kim

10 Super Time Savers that take Seconds to Learn

Getting Back to the basics -  Here are the  quick tips that will help you get more from your BlackBerry.

1. Capitalize a Letter: Hold DOWN The letter you wish to capitalize for 2 seconds until capitalized letter appears.

2. Activate Number: ALT Key + Number (Ex: ALT+ Z(7)= 7) – this works great when dial a number that has letter in it like 1800-go-fedex or dialing a company address book.

3. Password protect your BB: Go to the Options menu (wrench on Home Screen) to the Security Section. Set the desired timeout (I use 15 minutes) and enable/set a password. In conjunction with this, you should also go to the Options menu to the Owner item, and enter your name, phone number, etc. When the password protection kicks in, this is what is displayed on the screen.  If your phone gets lost, it can be returned to you.

**After five incorrect attempts at typing in your password, the password starts echoing (figuring you really need all the help you can get).

**After ten attempts, it performs a lobotomy on itself and almost all data is cleared. The Memo database, however, is retained and visible.

4.  Hold the ALT Key while you roll the trackball to scroll horizontally in any field where you can enter or view text.

5.  Hold the ALT Key while you roll the trackball to scroll through a field to view options.

6. Hold the CAP Key while you roll the trackball to select multiple items in a list.

7. ALT Key + Escape Key – Allows multitasking, brings up Taskbar on any screen. Similar to Windows ALT Key + TAB Key.

8. Type the first letter of an item in an options list or menu to jump directly to that item.

9. Rearrange the icons:  In the Home screen, Click the MENU button. Select an icon, then click the menu button  You can then select Move Icon, Hide Icon, or Show All. If you hide an icon, to show it again click Show all and it will appear with an X over it (or grayed out), bring up the menu on it and uncheck hide icon.

10. The Blackberry display can be backlit to allow reading messages in the dark. To get the light to come on, hit any key to activate the backliting.

 Your BlackBerry Buddy,

Kim

1 Touch Short Cuts for your BlackBerry

Tired of having to go to the Application Screen, then scroll through the applications to the application you use frequently then selecting it? There is an easier way. BlackBerry has built-in speedy short cuts that will get you to these applications with the touch of 1 key. These are HUGE time savers (and thumb savers).

** To activate these short cuts to launch applications from the home screen (calendar, phone, messages, profiles, etc), first turn off Dialing from the Home screen (Go to the Phone application-> Options -> “Dial from Home Screen” -> No )**

Here are the top short cuts:

A-Launch the address book

B – Launch blackberry browser

C – Compose a new message (email)

D- Launch memo pad / Notes

E- Launch blackberry messenger

F- Launch profiles

H- Launch Help

K- Key locks the Blackberry

L – Launch calendar

M –Launch message

N – Launch Blackberry Messenger

O- Launch options menu

R- Launch alarm

P –Launch phone

S- Launch search programs

T- Launch tasks

U- Launch calculator

V –View saved messages

W- Launch WAP browser

 TIP: If dialing from Home Screen -> Yes (using these short cuts will take you to your address book).

 Your BlackBerry Buddy,

Kim

5 MUST Have Contact Management Tips for any Phone Users

Leaving the house today without your cell phone is like leaving without your shoes - it is a necessity. We are addicted to our phones. We have them with us everywhere we go. With a devise that is always with us – the question is – are our mobile devices helping us get more done faster or are they holding us back?

Have you ever entered numbers into your phone and then could not find them? Maybe you forgot the person’s name or remember it was a restaurant, but can’t remember its name. Then spent endless time scrolling through each number trying to find the one you needed. Wasting time and getting more and more frustrated?

Here are 5 MUST have tips that will have you finding any number in seconds, managing your contacts like a pro putting your far ahead of your business colleagues.

Tip 1:  Give me it all!!! The key to finding contacts is first to put as much information in your phone as you have.  Enter their company, last name, birthday, email address, website, etc. You never know when you will need that information and it will be right there for you.

Tip 2:  Have it when you need it. If you are a power networker, never miss a chance to refer a colleague by having all their information in your phone and ready to share. There are several applications (depending on your phone) that will make this easy. Check out the card scanner applications – these are great time savers. Also, if you have an iPhone, check out the tapping app. This is an application where you can tap your phone with another and exchange your contact information.

Tip 3: Use Memory Tags. If you have limited information about the person, like only a first name. Then try to add other information that you can use as memory tags to quickly find that person in your contact list.

For example: the company they work for, color of hair, where you met, their occupation, who introduced you, common interests, etc. Almost anything that will work as a memory jogger when you are looking for their number. Each mobile has different searchable fields, for example, the blackberry lets you search on first name, last name and company.

For example: If I met Lorraine at Panera’s restaurant and I did not know her last name, I would enter her as Lorraine Panera. This way I could find her again. I could search Lorraine or Panera and both would get me to her.

Tip 4:  Categorize the Business. For places of business: when entering the name, enter the type of business.

For Example: Mario’s  would be Mario’s Pizza restaurant. So if I forgot the Mario’s name, I could search on Pizza or restaurant. This makes finding all the restaurants in my phone very quick and easy.

Tip 5:  Put a DELETE tag on it!!! If it is a contact you may or may not need for long-term, try this trick. Enter the name with the word “Delete.” Every now and then search for the “Delete” contacts and decide if you want to remove them. This will keep your contacts organized and you can easily find the one’s you need to delete.

These are just 5 quick tips to becoming more productive and getting more done.

If you are a BlackBerry user, check out the upcoming BlackBerry webinar – this will not only reveal many more time savers, but give you weeks back in your schedule! http://beyondbasicsbb1.eventbrite.com

Your BlackBerry Buddy,

Kim

 

 

 

Hidden Short Cuts for Managing your BlackBerry Inbox

I quickly learned the basics of my BlackBerry and as my message inbox filled up, my thumb got worn out from scrolling through messages to find the one I was looking for. These time  saving shortcuts saved me hours. They are quick and easy and once you know them – they will save you time (and thumbs).

WHILE IN A MESSAGE LIST – (Some of these work in tasks, memos, and appointments also)

Sorting:

1. ALT Key + I – show only incoming mail.
2. ALT Key + O – show only outgoing mail (messages you have sent – i.e. checkmark icon).
3. ALT Key + P – show phone log messages.
4. ALT Key + S – show SMS messages.
5. ALT Key + V – show Voice Mail messages.

Navigating:

1. T – go to top of message listing.
2. B – go to end/bottom of message listing.
3. DELETE Key – close message listing and return to home screen (ribbon).
4. SPACE Key -page down.
5. CAP Key + SPACE Key – page up.

Deleting Multiple Messages At Once:

1. Highlight a date (i.e. Fri, Oct 05,2001) in the message list, click the trackball and select ‘Delete Prior’. All messages prior to that date will be deleted.
2. Hold down the CAP Key and use the trackball to scroll up or down to select messages. Click the trackball and select ‘Delete Messages’. Combine this with a sorting tip to make it even more useful (i.e. To delete the last 5 messages that you have sent (checkmarks), press ALT Key then the letter O (for outgoing) this will show all of your sent messages, then per this tip scroll down and select the last five.

WHILE IN A MESSAGE

Navigating:

1. BACK Key or SPACE Key – scroll down a page/screen at a time.
2. ALT Key + BACK Key or ALT Key + SPACE Key – scroll back a page/screen at a time.
3. B – scroll to end of page.
4. T – scroll to top of page.
5. U – jump to closest unread message.
6. N – jump to next message.
7. P – jump to previous message.
8. DELETE Key – close message and return to message listing.

Reply-To/Forward:

1. R – reply to or answer this message.
2. F – forward this message.

Select Text (OS v2.1+):

1. Press the CAP Key and then scroll the trackball to select. If you release the CAP Key and scroll the trackball you will select entire lines. Press the CAP Key again at any time to start selecting by character again.
2. Hold down ALT Key + CLICK the trackball (click it don’t hold it down), release the trackball and then use it to scroll whole lines. You can press and hold the ALT Key at anytime to start selecting by character again.
3. Click scroll wheel and select SELECT from the menu. scroll wheel to select entire line. click scroll wheel again and select copy.

With either method, click the trackball and select ‘Cut Selection’ or ‘Copy Selection’… to paste, open a new message or whatever, click the trackball, and then select ‘Paste Selection’.

Composing a Message:

1. Press and hold a letter to capitalize it (with Key Rate enabled).
2. Press the SPACE Key twice to insert a period and capitalize the next letter.
3. Press the SPACE Key to insert the “@” and “.” characters in an Email field. Backspace and type again to over-ride this like you would with AutoText.
4. Press and hold a letter key and roll the trackball to scroll through international/accent characters, equation symbols and other marks.

To get more tips, join the upcoming webinar: Getting Beyond the Basics, April 13th, 1:00pm EST.

Limited Seats and Early Bird Pricing!!!

http://beyondbasicsbb1.eventbrite.com

Work less and Make more – Unleash the power of your Blackberry

Work less and Make more – Unleash the power of your Blackberry.

In this power packed 60 minute webinar you will discover:

•  Shortcuts: The Hidden Keystrokes that make the difference (and where to find more of them)
• How to unlock the secrets to getting more efficient while making calls with features like:
  • Speedy Gonzales Dialing Tricks
  • Settings that Save Time and Effort
  • Hidden Buttons that can make getting to your most needed applications with one touch
• How to cut your emailing time in half with quick tricks to make you seem like a real pro
  • Speed Tips for finding and deleting emails
  • Quick typing short cuts that allow you to type lines of text with only a few keystrokes
• The Power of the calendar and the hot keys to get more done faster
• Cruising the Internet and a few tricks to making getting the information you want faster
• AND MORE!
• PLUS Special Q&A session and BlackBerry tips sheet with additional little known hidden features

You’ll discover shortcuts the pros use that will cut your BlackBerry usage time in half!  In addition,  we’ll cover three tricks for a quick productivity boost and how to avoid letting the BlackBerry waste any more of your time …

DATE: Tuesday, April 13th at 1:00pm

Duration: 60 minutes PLUS 15 minutes of Q&A to ask your most pressing questions

 Register early before the price goes up: http://beyondbasicsbb1.eventbrite.com