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The 1950s was a productive decade. We saw the invention of the first credit card, the first computer hard disc, computer modem, and according to Entrepreneur.com, we have this decade to thank for where we’ve landed in the technical world to date. You see, the late 50s is where we saw the inception of the digital revolution, and since then, consistent and rapid growth in innovation has allowed us to connect, create, and revolutionize how we live day today.
Moreover, the ways we launch, operate, and grow our businesses.
As the world continues to accelerate, we are seeing an increase in online consumption and digital sales—and according to the Public Policy Forum, if you aren’t tapped into the digital age by now, it’ll be tough to stay resilient and afloat in this tech-dependent climate. Online transactions and payments nearly doubled between February and May of 2020, and entrepreneurs and small businesses who have prioritized digitization are those who have flourished in sales and will likely continue to do so.
What do startups and newly minted entrepreneurs need to know about the latest and greatest tech for their businesses today? Let’s look at the best practices and tools that enable growth and sustainability efficiently and effectively in 2021.
According to a US Bank study, 82% of small businesses fail due to poor cash flow and money management. Many businesses have a wonderful product or service, but many entrepreneurs aren’t skilled when it comes to things like bookkeeping, accounts payable, and accounts receivable—which ensure companies make informed financial and cash flow decisions.
A company like Plooto aims to ensure accounts payable and receivable are simplified with an affordable software solution that allows small- to medium-sized businesses to achieve greater financial control and success by:
And with over 4500 companies already using the automated service, such as fellow Canadian companies Greenhouse and Wealthsimple—who were once startups themselves—simplifying how we manage cash flow won’t only allow us to sustain our business but expand as well.
When it comes to business data, having immediate access is vital, especially in an ongoing remote work environment.
Platforms like Zoom, Teams, and Slack have become wildly popular in our remote working environment. These platforms allow entrepreneurs to be connected with their teams no matter where they decide to plugin for the day, with reliable and secure communication—as well as other features to boost productivity.
A recent Statistics Canada survey found that 14% of Canadian businesses will make remote working a requirement, while 25% are either likely or very likely to do the same post-pandemic.
Connecting with ease should be top of mind no matter where we find ourselves in this new normal.
Over 4 billion of the world’s population are active on social media today. With that number in mind, entrepreneurs would be remiss if they overlooked the most sought-after social platforms as a customer service pathway.
According to Hootsuite, 1 billion monthly messages are exchanged between businesses and the public on Facebook Messenger alone. And 64% of those surveyed said they’d prefer to message than call a business with their inquiries.
One of the best ways to simplify the line of communication is by launching a separate social account specifically for customer solutions. It’s essential for entrepreneurs to go where the people are, and address questions and concerns in real-time, with Hootesuite suggesting 15 minutes as the average response time for customer service success this day and age.
In the last year, we’ve seen that businesses of any size must be agile in how they operate and adapt to succeed. As we continue to conduct ourselves more and more online, it’ll be interesting to see how tech will continue to power entrepreneurs in new ways. On the flip side, how digital systems and solutions will be empowered by entrepreneurs’ evolving needs.
For more information, be sure to check out Plooto.com.
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Are you aiming to increase web traffic or grow your social media presence? Figure out why you’re leveraging paid media in the first place and build your strategy from there. Having clearly defined goals in mind will help you focus on your brand’s key priorities.
Designing strategies that cater to all three stages of the buyer journey ensures that you’re maximizing your brand’s reach. Every user at every stage is valuable—and you have to make sure you’re creating paid media content that speaks to each audience type.
Effective paid media is tied to targeting the right keywords. If you’re leveraging paid search ads to appear on SERPs (search engine results pages), then in-depth research is necessary. Bid on the keywords that are most relevant to your business to trigger only the most effective ad appearances.
Gather your team—because it’s time to start coming up with ad copy that wins attention. The key is to resonate with your audience and inspire engagement. Be real. Be relatable. And most importantly, don’t underestimate the power of creativity.
Do the landing pages on your website effectively push visitors further down the sales funnel? If not, you’re letting potential customers slip through your fingers. Optimize each of your landing pages so that they nudge users towards converting.
The options are plenty when it comes to paid advertising, including Google, Meta, TikTok, LinkedIn, Microsoft, and Pinterest among others. Analyze who your target demographic is, research where it’s best to connect with them, and then target the platforms where you wish to build awareness.
If you’re ready to build your paid media ad campaign, you’ll find that it will be further broken down into “ad groups” to ensure more effective pay-per-click advertising. These ad groups house one or more ads that have similar targets or categories. Let’s say your brand’s website features categories such as clothing, shoes, and accessories. Creating ad groups according to keywords that fall under these categories will help the PPC system decide when to show ads for these products.
Retargeting ads are bound to succeed because it’s a second shot at a conversion. Visitors have shown interest in the product/service once before, and sometimes all it takes is a little reminder to push them to the checkout page. So don’t forget to retarget and aim better this time.
In the world of paid media, what works and what doesn’t? You’ll have to run A/B tests to find out! Whether you’re testing which keywords bring more traffic or which social platforms earn more ad engagement, you won’t find out what really works for your brand until you test it.
Revisit your initial goals. Did your efforts bring about the results you expected? Tracking results is an essential step in your brand’s paid advertising campaigns. The data you collect from currently running ads will help lay the foundation for your future campaigns.
After tracking your results, you’ll be able to see where adjustments are necessary. There’s always room for improvement, so keep striving to consistently resonate and build trust with your audience—it’s how to create paid ads that pay off.
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