Small Business Strategy: 10 trends to Watch

Originally written by Brian Solis for Social Media Today. You can find the original article here.

As you read this, the business landscape is shifting right under your company’s foundation. How customers make decisions, how they discover, communicate, and share, how they influence and are influenced, is evolving considerably. In fact, customer behavior is not only changing, it’s fragmenting and opening the door to new touch points. Your business will now have to compete for the customers you know and additionally, a new breed of customers that you need to know. And, to earn their attention and ultimately their loyalty, you will need to better understand the top technology trends and how they’re impacting customer behavior.

At the heart of this customer divide is technology. But this isn’t about the technology we once knew, such as PCs, laptops, iPods, ebook readers, DVRs, etc. This change in consumerism is the inevitable result of disruptive technology and how it has affected behavior and reshaped expectations. Smart phones, social networks, apps, gamified everything, Google Glasses, self-driving cars, smart appliances, the list goes on, are placing consumers at the center of their own universe connected to one another through shared experiences. These plugged-in and always-on customers are learning to see the world differently. They’re empowered and they’re entitled. As a result, disruptive technology is grooming customers to expect information and opportunities to find them.

Everything starts with surveying the landscape for how you reach customers today and how their behavior and expectations are shifting. But this is also about the people you don’t reach now. This research will help understand how to appeal to a new type of customer as well.

If you thought that having a social media strategy and presences in the most popular social networks was enough, think again. What of adding social buttons to your website or in your email blasts? Still not enough? How about developing apps for iPhone and Android platforms? Nope. That’s not the right approach.

It takes research to truly understand how customer segmentation is materializing and how new technologies introduce opportunities to engage effectively with each group. More importantly, it takes interpretation, strategy, and a culture of innovation to recognize and prioritize these new opportunities and execute against them while windows for engagement are open.

Just like customer service, sales, and marketing, technology and your ability to translate trends into opportunities, are now part of your everyday business strategy. To what extent disruptive technology impacts your customer landscape, differs from industry to industry and it is your research that reveals where to concentrate and balance your focus and investments. To help, I’ve assembled a list of 10 current trends to evaluate . But, this is just the beginning. Use this list to build a regiment of research and innovation within your business now and over time.

10 trends to review for opportunities…

1. Social Networks from Facebook to Twitter to Google+ and how they’re connecting to influencers and businesses (note: pay attention to nicheworks as well such as Path and Instagram.)

2. Geolocation check-in services such as Foursquare and Facebook location updates to share locations and earn rewards or opportunities for discounts

3. Crowdsourced discounts and deals including Groupon and LivingSocial and what’s valued and why

4. Social commerce services like Shopkick and Armadealo and how they create personalized experiences that are worth sharing

5. Referral based solutions like Yelp, Service Magic, and Angie’s List to make informed decisions and how shared experiences can improve your business, products, and services

6. Gamification platforms such as Badgeville and Fangager, and why rewarding engagement improves commerce and loyalty

7. How your consumers using mobile devices today and what apps they’re installing. Also, how they’re comparing options, reviewing experiences and making decisions while mobile?

8. The online presence your business produces across a variety of platforms such as tablets, smartphones, laptops and desktops. You must realize how consumers are experiencing the online presences you create and whether or not they deliver a holistic and optimized experience for each platform.

9. The consumer clickpath based on the platform consumers are using. Are you steering experiences based on the expectations of your customers? And are you taking into consideration the device or network where the clickpath begins and ends? Are you integrating Facebook F-commerce and m-commerce into the journey?

10. The expectations of connected consumers, what they value in each channel and platform, where they engage and how your business can improve experiences and make them worthy of sharing.

What would you add?

No company is too big to fail or too small to succeed. Simply knowing your customer is one thing. The connected customers does not replace your traditional customer, they simply introduce new opportunities to grow your business. How you’re marketing, selling, and servicing customers today are in many ways missing these important customers and thus limiting your ability for engagement and growth.

Understanding how connected customers make decisions informs more meaning strategies and ultimately effective and engaging programs, products, and services. Now more than ever, the future of business isn’t created, it’s co-created.

Increasing User Engagement on Facebook

If you use Facebook as a tool for promoting your business or brand, then you have probably noticed that Facebook has recently updated its EdgeRank, also known as its News Feed Algorithm.

Facebook is not trying to hide the fact that they want businesses to start paying to promote their posts. It is in Facebook's best interests if your posts are not showing up in people's newsfeeds. They want you to pay to have your posts appear there.

 

You might wonder if there is any hope in getting your posts noticed in Facebook's newsfeeds without having to pay to promote them. While it is not possible to have your posts appear to everyone who has "liked" your page (even if you pay to promote them), it is possible to improve your chances of having your posts noticed by keeping these tips in mind.

 

Keep Your Fans Coming Back for More

 

Many people post whatever comes into their head on Facebook, even on their business pages. Before you post, ask yourself if this is something that your fans would really be interested in seeing. The more posts your fans ignore, the less likely it is that your future posts will appear in their newsfeeds. Many people who "like" a page on Facebook never visit the page again. To get people coming back to your page, your content must be truly engaging.

 

Remember that negative interaction with your fans can actually count against you. If your fans think you are spamming them they can report your posts to Facebook, further reducing your chances of your future posts being seen.

 

So how do you get your Facebook fans to interact with your business page? First let's look at what Facebook's EdgeRank algorithm is measuring.

 

Facebook's EdgeRank Algorithm

 

EdgeRank takes into consideration how much you interact with your fans. The more interaction the better, especially if your fans are actively interacting with you by "liking" and commenting on your posts.

 

The EdgeRank algorithm also looks at what type of interaction your fans are having with your page. It gives greater weight to comments than "likes", and the more comments the better.

 

The algorithm looks at how long ago a post was created. The more recent the post, the more weight it is given.

 

It is important to remember that the more fans you have the better. If you have a big fan base and are showing ongoing interaction with your fans, the EdgeRank algorithm gives more weight to your Facebook updates.

 

Create Engaging Content

 

Before you post on your Facebook page, ask yourself what your fans would like to see. It is easy to fill your page with links to your web site or blog, which is not necessarily bad, but if your fans are not interacting with your posts, think about how you can vary or improve your content to generate more interest.

 

Images have been shown to create more fan engagement than just text links. People like to look at photos, and if you post some interesting pictures that people can relate to, they will be much more likely to leave a comment.

 

One of the most effective ways to get people to respond is to ask a question. Try to think of questions that many people can relate to. People like to talk about themselves, so ask a question that will get them talking about what is important to them. Their responses may just give you some ideas for new posts or articles.

 

When people do leave comments on your page, make sure to respond to their comments. Show your fans that you care about their thoughts and that you will respond to their questions and comments.

 

Contests and giveaways are also effective ways to increase fan engagement on your Facebook page. People always love to win things, and they will keep checking your page to see if they have won.

 

Time Posts to Increase User Engagement

 

Remember that most people are not logged into Facebook all day. Try to time your posts to the times of day when people are most likely to be checking their newsfeeds, such as first thing in the morning, at lunch time, and after dinner.

 

Unfortunately, there is no way to completely understand Facebook's EdgeRank algorithm. Facebook is slowly moving toward a pay-to-play model and business owners will either have to adapt to the new model or find another way to promote their businesses. Don't forget that creating useful, engaging content, however, will go a long way toward getting your posts viewed by more of your Facebook fans. 

http://socialmediatoday.com/drip007/964571/increasing-user-engagement-facebook

Best of All Worlds; new Invite-Only network

One of the pioneering figures of social media, the little known Swedish Count Erik Wachtmesiter, is back to launch his latest creation, Best of All Worlds.

The new site, which is expected to launch on the 27^th August, will be highly exclusive and cater to the more elite levels of society. Naturally the site is invite-only at the moment, claiming around 25,000 members through the 5,000 invitations Wachtmeister initially issued. It is expected to continue in this vain as the network revolves around this exclusivity and seeks to unite the wealthy community pinpointed by Wachtmeister, providing a service that can really support their needs.

Speaking about the network, Wachtmesiter has claimed that Best of All Worlds will “deliver clever filters, cut through the mess and get information that’s relevant and we can trust”. The ‘About’ section of the site continues this view by stating the purpose of the site to be; to ‘discover people, common passions, and compelling information… in worlds of shared interests and friends’. Subsequently, Best of All Worlds will most certainly appeal to high-end marketers delivering such products as ‘yachts, watches, wine and liquor’.

Another potential selling point of the network is Wachtmeisters aim to allow users increased control over their data. In a move which appears to try and draw people away from LinkedIn and Facebook, Best of All Worlds offers the user ‘five modes to switch between’. These modes are entitled private, professional, family, social and party. After the user has picked their preferred mode, each one then provides its own set of photos, links, recommendations and suggestions. The idea is that this will enable like-minded people to connect in a ‘trusted environment’ and be able to discuss what really interests them. The categories of these discussions include ‘business, food and wine, health or a better world’, but this is expected to soon expand. 

A Small World

Back in 2004 Erik Wachtmesiter launched his first social network A Small World. Sharing many similarities with his latest creation, A Small World is an ‘invitation-only website that catered to a wealthy crowd where users could meet other world travellers, make business connections and find services’. After selling a significant stake of the business in 2009 and quitting his post, it seems Wachtmeister is fully focused on Best of All Worlds now. It appears that the Count has picked and streamlined the most successful elements of A Small World and can utilise the near 800,000 user base to promote his new venture. Reports have viewed this as an attempt to ‘poach’ users and this was extended when the two sites shared their mobile app launch on the 27^th July. According to Wachtmeister this was a “total coincidence”, but these events do suggest the Count should be careful In the future. 

The potential competition between the two sites will be interesting to observe in the coming months and also whether Best of All Worlds can tempt the so-called ‘jet-setters and well-heeled away from Facebook Inc. and LinkedIn’. This should indicate whether the demand is actually present among these elite groups. 

Google and Good Deeds

Gone are the days of popping a few coins into a tin on a Sunday to do your good deed for others in need. With the power of social media, donating to charities, community groups and non-profit organisations, giving for a cause has become easier. With websites like kickstarter and just-giving raising funds for individual groups, Causes allowing you to share which campaigns interest you via social networks and organisations like Sparked that gives the user the opportunity to volunteer their expertise to third-sector organisations via the web; doing your bit has become that much easier.

If you're interested in volunteering online, have a community group that lives close to your heart or even want to give a small donation to a charity in mind, then here are a few websites that can help you out:

·         IndieGoGo - The largest crowdfunding platform on the web, IndieGoGo allows users to create campaings in which they wish to fundraise. It can be anything from giving a boost for a small company to helping out with someone's medical bills. What you donate is entirely up to you and allows random acts of kindness to flourish.

·         Kickstarter - Fancy putting some money towards a creative project? Look no further than the largest platform for this on the internet. The diverse selection of projects available range from Game Designers creating apps to History of Art webinars to photography gallery exhibitions. For something a little different that caters for all, Kickstarter is probably your best bet.   

·         JustGiving - JustGiving works differently than the above two websites as it is much more sponsorship-based. Raising for a selected charity, users can fundraise by doing their chosen tasks such as skydiving and sponsored silences.

·         Sparked – Fancy volunteering your specialties or area of expertise online? Look no further than Sparked, an easy way to find voluntary positions online. There are various different avenues in which you can help including web design and marketing.

It has never been easier to do your kind deed for the day, and now you can do it with only a few clicks!