Go Green! 5 Tips for Sustainably Responsible Retail Businesses

In this day and age, most of us know the importance of going green. We recycle at home and have switched out plastic bags for sustainable totes when going to the grocery store. However, not as many green efforts are being made in retail businesses, even though it’s easier than ever to do so.

There are so many reasons to go green, with the most important one being that it is beneficial for us, the future generation and our planet. However, it’s also good for business! Going green helps you both save and make money.  When you make small changes, such as becoming energy efficient, you save money every month on your utility bill.

Plus, consumers are demanding more than ever that the companies they are loyal to become more environmentally sustainable.  By showing your customers that you are committed to going green, you can attract a new audience base, thereby increasing your sales.  Below are five easy tips on a sustainably responsible retail business that you can start implementing today:

Make it Part of Your Corporate Culture

It’s not enough for you to decide to go green, you must encourage your entire team to do so with you. Incorporate an environmentally-friendly initiative into your corporate culture. Discuss ways to be more sustainable with your employees and how you can reduce, reuse and recycle, and then implement the strategies into your everyday life. Purchase blue recycling bins so that your employees remember to recycle. Reward them for biking, taking public transportation or carpooling to work.

Reduce Paper Use

Over 30 million acres of forest around the world are destroyed every year to make paper. This is why it’s important to reduce paper use as much as possible. Encourage your employees to email or write something down on a small post it rather than print an entire page when it’s unnecessary. Teach them to print on both sides instead of single sided.

Ask your customers if they prefer an email receipt over a paper one; this will also give you the opportunity to collect email addresses to stay in touch with your clients. Reward your customers with a small discount for bringing in their bags instead of giving our plastic ones.

Create a Green Wall

In many retail businesses, air is recirculated throughout the ducts and becomes stale. Instead of using the A/C even more or investing in an air purifier, create a green wall! This will allow you to create a unique space that is affordable and will improve air quality. Spider plants, common ivy and sword plants are the best options for cleaner indoor air and a cool look.

Turn Everything Off

It’s likely that you leave computers, cash registers and lights on when your business is not operating, which wastes electricity and raises your utility bill. If you don’t want to go through the trouble of turning each and every item on and off daily, invest into a smart plug. This way, you can control your devices from anywhere with an app or with voice control through Alexa or Google Assistant.  

Green Marketing

Once you commit to making sustainable changes in your retail business, spread the word!  Concentrate on effective green marketing strategies to let your customers know all of the new initiatives you’re putting forth.

Why not host an event to celebrate you going green, and educate your customers about your efforts? This is an excellent way to increase foot traffic and help new customers get acquainted with your business.

IOU Financial works with small businesses to help them finance their needs. If you need a small  business loan in order to help your company go green, visit us today at www.ioufinancial.com.

How Can You Optimize Your eCommerce Store to Increase Sales?

You’ve put a ton of work into your online store and even started getting a decent amount of traffic to it. But, when it comes to sales, you aren’t meeting your goals. Does this sound like you? If so, don’t worry — Many online stores owners are facing the same problem. You need to optimize your marketing efforts to acquire more customers, and this article show you how.

First, You Need to Determine When Shoppers Leave Your Site

While there are some general optimizations that will benefit allonline stores, the areas where you need to make improvements to your site are determined by user behavior. You need to know precisely when a shopper leaves your website. Upon determining at what point website traffic navigates away, you will have an idea what elements must be improved.

So, you’ll have to monitor your website traffic. From real data, you can acquire invaluable understanding. Here are the indicators you want to look for and what you can do to improve your sales potential.

A High Bounce Rate and How to Solve it

A high bounce rate (above 56%) indicates that your page design or load speed is severely lacking. The problem for your shoppers is immediate, so they leave right away — and most of them won’t come back. So, the first thing you need to do if your bounce rate isn’t at least average, is run a page speed test.

Google PageSpeed Insights can provide you with page load speed and optimization ratings for mobile and desktop browsers. Follow the advice given, step-by-step, right to an optimized user experience upon arrival to your online store.

If you find that your website is fully-optimized and your bounce rate stays in the high range, it may be time to get some feedback on your design and/ or images; the aesthetic appeal of your site might be non-existent or lacking (this is a tough but extremely commonpill to swallow).

Tip: Find a neutral focus group to test your design and give you unbiased feedback on your website design. Most of the time, your staff, friends, and family are going to tell you what you want to hear, whether the aesthetics of your site are terrible or not.

Site Traffic Drops off on Product Pages and What This Means

After arriving at your home page, interested, qualified leads will likely move to your product pages. If this is where they move away, there could be something wrong with your product descriptions. Crafting optimized product descriptionswill have a powerful effect on your sales.

SignMission’s now hiring banner product description provides a great example of everything necessary for converting a page visitor. Here’s why it works:

  • Right off the bat, it tells the reader what to do with the product: “Advertise your employment needs…”
  • Next, it showcases the main benefits: durable, pre-grommeted mounting holes, indoor and outdoor use, fade-resistant, made in the USA, outdoor, heavy duty, 13 oz vinyl.
  • Then, it explains where the product can be used: job fairs, grand openings, roadside, and more.
  • Plus, it seems to be super SEO-friendly with wise use of subheadings and lists.
  • Finally, it makes wise use of grammar and power words.

If you wrote the product descriptions for your online store and this is where visitors are moving away, it’s time to study up on psychological sales triggers, power words, and maybe even grammar. There’s a lot that goes into effective product descriptions.

Tip: If you hire someone to help you rewrite your product descriptions, make sure that you check references. You’ll probably be better off hiring someone with experience in your niche because they will already know the language if your target market.

What if Shoppers Drop off on Category Pages?

You may think that when your traffic moves away upon landing on your category pages, it’s for the same reason as product pages and you need to update descriptions; this couldbe part of the cause, but it’s definitely not the most likely. Instead, when shoppers leave after landing on category pages, it’s probably because your navigation needs some work. The simpler your navigation menu is to use, the longer shoppers will browse.

MightySkins’ provides a great example of an eCommerce site with good navigation. From one category page you can choose to create your own popsocket skin, buy a pre-designed skin, use the dropdown menu to see a list of the most popular products, or do a search. In the sidebar, they provide product images of other popular products with images. Follow their lead to encourage clear opportunities for conversions on category pages.

Tip: Try to make your main conversion point stand out on your top menu. If website traffic is drawn to the “Shop” button, you’re likely to get traffic to your money pages.

Are Your Shoppers Abandoning Their Carts at Checkout?

. Shopping cart abandonment is one of the main conversion killers eCommerce stores face. You’ll need a streamlined checkout experience if you want shoppers to see their purchases through. So, learn why online shoppers abandon their cartsand check to see if your experience makes the grade.

Here’s what an optimized checkout process looks like:

  • It never presents shoppers with unexpected costs.
  • The price of your products, including shipping, is competitive.
  • Site is functioning properly as far as page speed and bandwidth.
  • Utilizes minimal security measures while maintaining trustworthiness.
  • Presents sufficient and affordable (free when possible) delivery options.
  • Shows relevant currency information.

Tip: If you sell the same inventory on and offline, you should use a credit card reader that connects to your online store. This way, you’ll have an easier time with inventory management.

Final Thoughts

An optimized online store leads to higher conversions, hence a greater ROI. If you’re in the business of selling online, use these tips to improve your business’ financial situation. Most of these tips can be implemented right away, so don’t wait to make the right move – start now.

Guest post: About the Author

Ashley Kimler is part of the superhero team atHeroic Search in Tulsa. She’s been working in the digital marketing industry for over a decade. Follow @ashleykimlerand @heroicsearchon Twitter to see what she and her team share next.

 

How to Choose the Right POS System

It’s safe to say that we’ve finally reached a point where hard cash and cash registers have become rather obsolete. Even credit card processing systems and hardware don’t do the trick anymore and, considering how technology has progressed over the years, and it’s not surprising in the slightest.

Making the correct choice when it comes to new and state-of-the-art POS systems requires some knowledge and skill. The big issue people have here is that there are many different, yet effective platforms that offer POS solutions. So, which one is the best one? In this review, we’ll be talking about what to look out for when choosing your first POS system. Here’s what you need to do:

Define the Needs of your Business

First thing’s first – you’ll need to openly define what you want with your business and what it needs. This includes functions, features, services, inventory, the checkout process, and even customer management and relationship. The thing is, not all POS systems can support what you’re looking for, so this should hopefully sift all the incompatible ones right away and leave you with the ones that are capable of fulfilling the needs of your business.

Additionally, have a chat with your employees – their opinion and happiness (as well as efficiency and productivity) matter as well.

Set a Budget

It’s no surprise that you won’t have unlimited resources to deal with so setting a budget is crucial. It all depends on the size of your business and what you need from a POS system. Your usual desktop-based programs and software require between $1,200 and $2,500 for a license (for a single user).

There are also cloud-based POS systems that are vastly superior to traditional ones and can range from being free to around $50-$200 a month (again, depends on the complexity and size of the business).

Audit and Compare POS Systems

Try to find some industry feedback and reviews on POS systems to get a feel for what is good and what isn’t. Experiences also matter (as for everything in life) so be sure to talk to other retailers that have opted for a POS system. There are many ways to do this, and it’s up to you – ask up front, search LinkedIn, check on forums, and even call vendors to see how they’ve chosen the correct POS system.

Get the Set-up Right

When you’ve finally reached a decision on which POS system you want, it’s time to set it up as best as possible. This means getting all the crucial software and equipment. The set-up itself depends on what kind of POS you’ve chosen (alongside the requirements and size of the business). The POS vendor should give you instructions on how to set it up but, if you run into any issues, make sure to contact them for help. It’s better to get it right from the start than trying to figure out what’s wrong and fixing it.

Make the Most of your POS System

Once the system is in place and ready to start working, you’ll want to maximize its efficiency and use. This comes down to picking and getting apps, extra POS-enhancing hardware, and various add-ons. A great idea that you should practice is to establish a warm relationship with your POS vendor as, not only will they help you with servicing the POS system, they’ll also be there for you to give a hand in expanding your expertise and business.

Conclusion

The truth of the matter is, choosing and setting up a POS system isn’t easy, and you probably won’t be able to do it yourself. You’ll need all the help you can get, but once it’s up and running, it gets easier. Remember – keep your POS vendor close for the reasons we already mentioned. You don’t want to be left alone with a faulty POS system that might be very easy to fix if only you contact the vendor. If you need help – ask; there’s nothing wrong with having someone else give you a hand!

 

Guest post: About the Author

With over 10 years in the financial vertical, focusing mainly on debt, Kevin Tomlinson is an experienced writer with the best tips and tricks for dealing with debt of any sort.

Bottom Line Boost — 6 Ways Your Hospitality Business Can Save Money

Running a food establishment to turn a profit can be a tricky combination of creativity pitted against hard-nosed dollar smarts.

Positioning a business in a high visibility location with plenty of passing foot traffic, parking and a steady stream of customers, is still no guarantee of success if its outgoings and overheads are hemorrhaging money.

The process to regain control of spending must begin with an internal review. This is done to provide insights into excessive expenditure and poor processes whilst identifying crucial areas where strategies can be implemented to metaphorically and literally ‘trim the fat’.

By addressing the following key sectors, a business can turn around its turnover, rein in costs and boost profits.

Begin with the basics

Cafes, restaurants and hospitality businesses all survive on the income from food and drink. This means implementing optimum menu competitive costing calculations while providing an adequate profit margin is vital.

Menu pricing should be set based on a food cost percentage formula which takes into account:

  • Stringent, detailed recipe costing
  • Associated overheads of running a business including:
    • Staffing
    • Leases
    • Utilities

Licensed premises should run a similar audit of their bar prices to ensure they are balancing affordability with healthy profit margins.

Reduce waste

A compelling study by the National Restaurant Association in the US found that restaurants lose approximately four to ten percent of food to wastage. The restaurant industry alone is responsible for trillions of dollars of waste each year.

This means that substantial savings can be made without affecting the quality of an establishment’s fare, through streamlined food preparation methods, effective storage systems and well managed procurement processes.

The good news according to researchers at Champions 12.3, is that for every dollar businesses spend in strategies to lower food waste, an average of $14 is saved in operating costs.

Begin with a kitchen audit:

  • Install a rotation system to ensure the oldest food gets used first.
  • Inspect food quality from suppliers to identify issues surrounding trimming and loss (e.g. high fat content of meat).
  • Check expiration dates as food is delivered to ensure you are getting the freshest possible produce.
  • Review food preparation techniques to identify strategies to reduce wastage.
  • Review food storage temperaturesto increase shelf life of refrigerated produce.
  • Clearly mark expiration dates so staff understand when to move dishes to the ‘specials board’.
  • Predict peak demand periods to optimise procurement processes.

Preparation and Portion Control

Are diners regularly leaving large amounts of food on their plate? Identifying dishes where portion size is excessive, can substantially impact recipe costs. This is equally true for sides such as salads and chips. Making these an optional extra can have the double impact of saving on food waste and minimise ingredients expenditure.

Consider the off-cuts accumulated during food preparation. Could these be incorporated into other recipes to make full use of each cut of meat or serving of fish? Dishes which lend themselves to this type of economising are:

  • Soups
  • Stir fry
  • Chowder
  • Casserole
  • Stew

Review the Menu

Making a conscious effort to save money requires staff awareness, involvement and commitment. Staff training needs to be instilled and regularly refreshed to:

  • Create awareness and understanding regarding the vital role of economy in a food service environment
  • Identify strategies to monitor storage and preparation methods to restrict food wastage
  • Implement techniques to encourage faster table turnover
  • Promote and upsell meals and extras
  • Encourage practises which lower energy and utility usage

Table Turnover 

Long delays in table turnover can be reduced by installing pay-at-the-table and pre-ordering technologies. These apps result in reduced demands on staff, a streamlined customer experience and increased table turnover rates.

Apps which promote themselves in this arena include:

  • Hey You
  • PayPal
  • Groupee (enables menu splitting)

Faster table turnover is of particular importance in cafes where lower priced products mean you may be relying on higher turnover than a restaurant. Moving customers along can be an art and requires some tact by staff. To avoid confrontation, at busier times it may pay to install written policies.

These written signs needn’t be confrontational and can even carry some subtle humor. An example may read:

‘In a crazy bid to turn a profit, Management kindly request non-diners to give up their seats to the hungry, when  seating demands are high.’

Before seating them, staff can politely ask customers whether they will be requiring a dining menu and if the answer is in the negative, direct them to the window stools. Alternatively, they can give a gentle reminder when directing them to a seat, that lunch dining begins at noon and their table may be required.

In the hospitality industry even small details can dramatically influence viability. Awareness, motivation and processes are the key factors to turning the fortunes of a food service business. If a single step such as reducing waste can result in significant savings, imagine the impact multiple cost-reduction strategies could make to your bottom line!

Should you need funding to implement any of the tips above helpful advice about growing your business and need financial help in realizing it, let us help! IOU Financial specializes in helping small business secure business loans of up to $300,000. Contact us today at www.ioufinancial.com to learn more.

Guest Post: About the Author

Danielle Ryans is a freelance writer based in Sydney, Australia. She loves that writing allows her to explore new topics and ideas, and is interested in business, travel, health, food and lifestyle. You can follow her on twitter here. 

Should Your Body Shop Offer an Independent Lifetime Warranty?

As an owner of an auto body shop, you may be wondering how you can give your business a competitive advantage. Every city across the USA has a multitude of body shops, so what can you do to set your business apart from others? A proven strategy for many owners has been offering clients an independent lifetime warranty on some products and services. Read on to figure out what you can cover with your warranty and how it can benefit your business.

What is an Independent Lifetime Warranty?

While some auto part manufacturers provide limited warranties, you can offer your customers an independent lifetime warranty on some parts and repairs. While you may not be able to offer warranties on items such as engines or tires, you can offer to cover repairs on fit, finish, functionality and overall quality. You can cover items such as body work or paint jobs, mechanical repair, parts and OEM (original equipment manufacturer) parts.

Why Should You Offer Independent Lifetime Warranties?

As a small business owner, it may be difficult to manage costs as it is, and offering any kind of free work may seem like an unneeded expense. However, there are benefits to this incentive, such as:

Setting You Apart from the Competition

Many people shop around before committing to getting their car fixed or serviced at a body shop. They not only look for the most affordable price, but perks not offered anywhere else. You may not be able to beat the cheapest price in town, but you will be able to justify your cost by the fact that you stand behind your work!

Letting potential customers know that they don’t need to worry about bad service or faulty parts will set you apart from the competition and give new customers the faith to give you a try.

Repeat Customers

Another benefit of offering an independent lifetime warranty for your body shop customers is the promise they will keep coming back. A client may have chipped the paint on their car and came back to you for a free touch up, but chances are they may also require an oil change or a tune up at that time.

The promise of your guarantee will keep your clients coming back to your shop, where they likely will spend more money on additional work. This will lead to customer loyalty and more revenue for your business.

Word of Mouth Referrals

Individuals typically find body shops in two ways: through their insurance company or by referrals. Word of mouth referrals are incredibly important for small businesses, and offering an independent lifetime warranty is reason enough for your customers to share that information with their friends, family members and colleagues. This is not a common incentive for small body shops, and it is enough to impress your customers to recommend your business to others, growing your customer base!

If you are looking for effective ways to grow your auto body shop, you may benefit from a small business loan. Let IOU Financial help! Call us today to inquire about our fast and easy loans of up to $300,000.

 

 

Bad Restaurant Review? How to Remedy!

All restaurant owners know the value of customer recommendations and feedback in attracting new customers. Savvy restaurateurs ask customers to leave reviews on their websites and social media accounts to speed up business growth. However, sometimes, the reviews left are not positive, and can present the business in a bad light. What do you do that in that situation? Read on to learn how to remedy a bad restaurant review.

Don’t Ignore

The one thing you should NOT do is do nothing. Some business owners believe that bad reviews are just part of doing business, and figure out that enough good reviews will distract from the negative ones. Others believe that there is nothing to be done about bad reviews at all, but that couldn’t be further from the truth. All it can take is one negative review to prevent potential customers from giving your restaurant a chance.

Contact the Customer

The easiest and often more effective method to deal with a bad restaurant review is to contact the customer that left it. Most websites, such as Yelp and Facebook, will allow you to privately message the individual. If you can connect the name to a client database, you may be able to figure out the person’s phone number or email.

If you have a way to message the person, always take that as your first step. Always remember to be on the customer’s side, whether you find truth in their review or not.

Apologize for the fact that they had a negative experience at your restaurant, and state that your customers’ satisfaction is your number one priority.

Most people will agree to remove or upgrade their review with just a tad of personal attention from the owner. Knowing that you took the time to acknowledge their feelings will make all the difference!

Offer an Incentive

If you feel that the individual is not likely to update their review after your initial contact, consider offering them an incentive to do so. Be careful in doing this, as certain websites, like Yelp, have a policy that penalizes business owners who incentivize clients to remove reviews.

However, doing so in a way that doesn’t directly ask the customer to take this action is acceptable. State that while you cannot change the initial experience, you want to make things right. Consider offering them a refund or a gift certificate to give your business another chance.

This second step is almost always effective in changing a person’s perspective about your business.

Respond Publicly

If the individual refuses to remove the review after the first two steps, the only thing left to do is respond publicly. Although this won’t hide the initial feedback from online users, it will give them another perspective, and show them that the restaurant’s management cares about the business’ reputation.

Always remain professional, empathetic and kind. Apologize to the reviewer and state that you tried to remedy the situation to make it right. If you offered them an incentive, don’t be afraid to include that in your public comment. This will tell the readers that you care about the opinions of your customers and address problems.

You also have the option to hire a Public Relations (PR) specialist to provide you with a good direction in tackling negative reviews. If you need financial help to afford these services, or need other funds to grow your business, contact IOU Financial. We offer fast and easy small business loans up to $300,000 with an easy fast pre-approval  process.

 

 

 

Marketing Ideas for Spring

Spring is a time for new growth and new opportunities! Retail business owners should consider ways to market their companies or products during this season. After the cold winter months when many people stay indoors, spring is the time to focus on attracting new customers and keeping your current ones loyal with strategies to boost profits. Utilize these marketing ideas to jumpstart your sales during the spring season.

Focus on the Holidays

People love holidays, and one great strategy to market your brand is to tie it to a well known event. There are a multitude of options during the spring—major holidays such as Easter, Mother’s Day and Passover, and less known ones, such as Take our Daughters and Sons to Work Day.

Just so you know—”last year, U.S. consumers spent an estimated $17.2 billion for Easter, $20.7 billion on Mother’s Day, and $13.3 billion on Father’s Day,” a source explains.

To attract clientele to your retail location, consider putting on a holiday-inspired event inside your store. If your business is family-friendly, you can advertise an Easter celebration with a bunny, an egg scavenger hunt and other child-centered activities. If your store is more adult-oriented, you can hold a more sophisticated event with music and light bites.

Let the public know about your celebration and you will attract new foot traffic from people who may never have heard about your business and gain new customers for life!

Spring Cleaning

Spring is a time to get rid of the old and focus on the new. It provides a chance to analyze your inventory of products that are not selling as well or no longer serve your brand image and hold a blow out sale.

If you advertise a sale, chances are you will boost your profits for the quarter while getting rid of overstocked items.When discounting items, create a price ending in 9, such as “$23.99” or “19,” as research has found that this strategy increases sales by 24%!

Tax Season

Another important event happening during the springtime is National Tax Day. It is estimated that about two thirds of individuals expect tax refunds during April. This is a perfect opportunity for retail business owners to encourage customers to spend that cash!

A great incentive to attract shoppers to your location is to offer a free item or discount with proof of filed taxes. Or, celebrate Tax Day by waiving taxes on purchases in your store on April 15th!

Marketing Strategies

With holidays, spring cleaning sales and tax season as three main ideas you should consider for the season, you will need to plan on actual ways to market them, which can include:

  • In-home mailers
  • Marketing emails
  • Ads in the local paper
  • Social media advertising
  • Sponsorships
  • Handing out leaflets
  • Leaving ad materials in other local businesses (cross sponsorship)

Start planning now on how to put the spring marketing ideas into motion. IOU Financial is ready to provide financial assistance to help you grow your business. Contact us today at www.ioufinancial.com.

Best Industry Podcasts for Restaurant Owners

As a restaurant owner, it is beneficial to stay on top of the latest news in your industry. Unfortunately, this business requires a big time commitment, and not many owners have the availability to network or even read restaurant-related news.

Most, however, would find it valuable to connect to relevant sources to help them run their business if they can do it on the go. Podcasts offer exactly that opportunity to restaurant owners, allowing them to hear experts in the field discuss topics of relevance to them that they can listen to during their commute, while exercising, or even planning meals for their restaurant. Here are the very best, hand-selected podcasts for restaurant owners.

Social Restaurant Podcast – Weekly Talk Radio for Restaurateurs

Nate Riggs, a NR Media Group owner and professional speaker, puts on a weekly episode in which the restaurant business is discussed. Each episode is 30 to 60 minutes, and features owners, operators, executives, authors, chefs and technology experts from the top restaurants worldwide.

Nate leads discussions about the latest trends, helpful technological advances and other topics of relevance to the food industry. The episodes features one-on-one interviews, conversations, commentary and advice on reinventing your restaurant!

Profitable Hospitality

Profitable Hospitality is a website designed for owners and managers of hospitality businesses, including restaurants and cafes. The founder, Ken Burgin, has been in hospitality for over 25 years, owning various restaurants, as well as serving as an advisor.

The site features a multitude of podcasts (over 250!) with restaurant owners, managers and chefs, among others.

Topics include:

  • Diversity
  • Menu customization
  • Targeting specific audience
  • Finances
  • And more!

Restaurant Unstoppable

Calling itself the #1 podcast for restaurant owners, these podcasts target independent restaurant owners. Run by Eric Cacciatore (like the chicken dish), the site started when he was a mere hospitality student to broaden his horizons. Now, he helps business owners learn the tips and tricks to expand and successfully run their restaurants.

He allows his listeners to hear advice from industry experts, as well as sharing their failures to teach others never to give up. He also provides actionable advice for getting funding, managing a team and marketing.

Secret Sauce

The secret is out—the site marketing4restaurants.com shares their take on the best marketing strategies to run these businesses.

The advice comes from the real world—monthly analytics of bookings and orders from actual restaurants. This helps the podcasts provide actionable and proven tips to help restaurant owners.

The reason this blog is helpful is because marketing for restaurants is unique from other industries, and you can learn the best and most cost efficient ways to grow your business.

Table Touch

Hosts Brandon Hull, founder of NextRestaurants, a marketing-focused restaurant resource on the web, and Randy Lopez, the founder of JaKE, a restaurant-industry marketing and PR agency, came together to create this podcast.

They invite leaders in the restaurant world to help listeners hear their opinions on:

  • Building a brand
  • Opening multiple locations
  • Sales
  • Holiday menus

If you hear some helpful advice about growing your business and need financial help in realizing it, let us help! IOU Financial specializes in helping small business secure business loans of up to $300,000. Contact us today at www.ioufinancial.com to learn more.

 

Best Marketing Methods to Bring in New Salon Clients

For a salon to be successful, your calendar must be full of appointments. If you are just starting out, you must attract new clients so that your salon doesn’t operate without any customers. To grow an existing salon business, you need to maximize the amount of clients so you can hire more stylists to grow your profits. How do you attract new clientele to your salon? By utilizing the following proven marketing methods:

Utilize Local Social Media Groups

While some people will walk into a salon without knowing anything about it, most people want some kind of referral. In the past, we had to rely on our friends, family members and colleagues. In today’s world social media is king when it comes to referral sources.

As a salon is a brick-and-mortar business, you must concentrate on the individuals in close proximity to you, as they are your most obvious customers. Apps such as Nextdoor and local groups on Facebook are great resources to connect with your neighbors.

Stay on top of these groups – answer questions in which people may ask for services such as those your offer, or inquire about advertising opportunities on these groups.

Start a Referral Program

To motivate your current clients  to refer your salon to their network of friends, simply offer them a reward!

You can offer a special discount or a free service or product for any customer who brings in their friend! Reward top referrers with special prizes to encourage them to keep spreading the word.

Social media can also play a role in this strategy.  Ask your clients to post reviews, upload photos and recommend your business on their social media accounts.

Become an Influencer

Many small business owners turn to influencers, or individuals with large social media followings, to market their services. The problem is that strategy is typically expensive, and it doesn’t target your local audience.

Instead, spend your efforts to become an influencer yourself! Create a YouTube channel, start an Instagram account or open a Pinterest account to share your expertise in a given area—makeup, hair, nails or hair removal services.

With the right photos and videos and relevant advice, you can become an expert in your field and lead new customers to come to you instead of searching for them!

Get Involved in the Community

Another way to achieve brand recognition in your neighborhood is to get involved in your community. Sponsor a local school event, a charity or a little league team. Organize a park or beach cleanup event to do something good!

If you can get local media to cover the event, and create some posters or make T-shirts, that would be amazing advertising for your business.

It has been proven by a study that community involvement is something that customers keep in mind when choosing which business to support, and that it leads to “loyal customers and happier employees.”

Investing into marketing strategies to bring in new clients is never a bad idea. However, if you don’t have the financial means required, IOU Financial is ready to help. Contact us to learn how you can get qualified for a small business loan of up to $300,000 in just 24-48 hours!

Four Easy Strategies to Create Email Campaigns that Retain Customers

Customer loyalty is one of the most important differentiators between a successful and a failed business. It takes time and and investment to attract new customers—customer acquisition costs alone can make it cost prohibitive to run a business. This is why taking steps to retain your current customers is vital to generating sales in a retail environment.

Keeping your customers in the loop about new products and services, alerting them to sales and special deals and simply staying in communication with them through email campaigns is a cost effective and proven strategy. In fact, one source claims that email marketing is more effective than Facebook and Twitter! We share with you tricks of the trade to implement email campaigns to ensure customer loyalty.

Know Your Audience

Email marketing is completely ineffective unless the emails are opened and read. In order to accomplish this, you need to tailor the content to your particular target audience. Do you know who your clients are? Knowing the following demographics can significantly increase the chances of your emails being read:

  • Gender
  • Age
  • Location
  • Income level
  • Interests
  • Purchase history

Once you have these demographics, you can segment your email lists to make them more interesting to your customers. MailChimp found that segmented campaigns get 14.64% more opens and 59.99% more clicks than non-segmented campaigns.

Personalize Emails

People get dozens, if not hundreds, of emails per day, most of it spam. We are so used to ignoring or deleting content that is of no interest to us, that it is increasingly difficult for retail owners to cut through the clutter. One way of getting a reader’s attention is to personalize the email that is sent out.

Experian found that simply including a person’s name in an email’s subject line increased open-rates by as much as 42% for companies that are selling products or services. And the biggest bonus was not just that more people read the emails, but that they spent more money! “Transaction rates were 49% higher and revenue per email was 73% higher with personalization.”

Share Interesting Content

To retain your customers, it’s not enough to simply make announcements in your emails, you need to create relevant content that is interesting and important to them. In addition to sales announcements, consider sending out articles that educate your readers about topics that are of interest to them.

One article explains that educating customers not only builds trust, but it also adds a human element to email marketing. When you are able to get your customers to trust you, you become an expert in your field in their eyes, which makes it easier for them to open their wallets and make purchases based on your recommendations.

Create a Call to Action

Always focus on the main goal of every email—it’s not just to get readers to open or read it, but to generate a sale and retain a customer. It’s not enough to hope that individuals do this, you need to ask, or better yet, direct them in doing so.

Include a call to action (CTA) in every single piece of email sent out. These can ask readers to like your social media page, visit your landing page, purchase a product or share your article with their social network.

There are many useful software programs that will help you design and test effective email marketing strategies that work. If you need financial help in setting up a marketing plan, turn to IOU Financial. We can secure a small business loan for you with a few easy steps and quick funding. Contact us today!