Measure ROI for your Social Marketing

All you savvy women entrepreneurs and wanna be's too, have a knock out Social Marketing Strategy, right? That's what everyone is talking about - Mashable, Seth Godin, Keith Ferrazzi, Mari Smith.  That's why we're all on FaceBook, Twitter, LinkedIn, and are blogging.  So how is it working for you?  How do you know? 

Google Analytics shows what happens on your website but what if you're a brick and mortar store front; say a salon, spa, or boutique how do you track where new customers find you.

Here's a simple method to measure your ROI for each piece.

ROI Question:  How did you find us today?  (Friendly and engaging works...ask about why they're shopping today....have they visited other stores they found on X, Y or Z site.)

Ask the question of EVERYONE that comes in or phones your shop and write down their answers and ask for their email address too.   When you track like this you have far more accuracy than when you just guess or as I call it the "Shotgun" approach to marketing.   

Your Social Marketing is an investment whether it involves your time and no cash or your time + cash.  Small businesses rarely can waste their time and money without some  kind of return. 

Earlier this year I was in shop I had seen in the Sunday Times
Pacific Magazine for the past few months.  While I was at the counter paying for my goods, I asked the owner how the ads were working for her.  She looked a bit chagrined and said she didn't know.  A friend had suggested she advertise in the magazine so she did.  But with no plan she had no idea how many, if any, new customers she got.

The next time I was in she said she had cancelled the ads and was trying a different approach which involved engaging new walk in's and collecting email addresses...a much better plan.

If you use QuickBooks create a custom field for Marketing and add your customers answers to your ROI Question.  You can then run reports and evaluate where you're getting the most bang for your buck....ads on FaceBook, Google Adwords, Twitter specials...well, you get the idea. 

Ditch the shotgun approach and ask customers and clients where they found you...it's easy and they'll want to share with you.

Any questions...just shoot up an email.

New Kids on the Block

QuickBooks has long been the leader in small business accounting.  Intuit estimates their market share at around 85% and that 4 out of 5 accountants recommend QuickBooks.  This sounds great if you are a QuickBooks stockholder but can they hold on when there's more and more competition.

Here's a review of a three new competitors for the standard accounting program.  I've done the research, now see what you think.

FreshBooks looks good...lots of talk about managing, tracking, sending invoices but when I  got down deeper it seems like all they do is Time Tracking and Invoicing.  Hmm, seems like a lot of money at up to $39.95 a month for Accounts Receivable.   What about Accounts Payable and Expenses, Assets and Liabilities?
On the FreshBooks site you can find out how to integrate their program into QuickBooks, which leads me to a big, huh?

shoeboxed sounds cool but the more I flipped through their site the more  I went, Why?  The company is all about organizing YOU.  There's  an IPhone App so you can take a pix of your receipts, send it to shoeboxed where they'll categorize it and enter the contact info too. Again this program integrates with QuickBooks, and it saves you time and money, right?  Not at this price....Free, which pretty much what most business owners do now.  It steps up pretty fast from $9.95 to $49.95 a MONTH.  Kinda pricey when you're doing the picture taking and sending.  Oh, you can also snail mail your receipts...now that's so last year!

And finally, inDinero, intrigued me.  It's simple to set-up, monitors trends, and there's a cool dashboard.   You can say "Good bye Accounting"  and "Hello, inDinero".  Wow, these guys might really be on to something.  Most of my clients over the past 20 years haven't fully understood the accounting process or terms...this might be just the best thing in years.

But I'm still not convinced and the price is pretty steep.  The Free version allows only 50 transactions a month which isn't much when you're dealing with Invoices, Bills, Checks, and Credit Card charges.  The next level is $29.95 a month and then a whopping leap to $99.95 a month.

I did some simple math.  Let's just call it $100 per month X 12 months and you're at $1200 just for the inDinero.  The transactions have to get into the program whether you're downloading your bank accounts, hiring a bookkeeper, or have staff to do it. 

Back to the QuickBooks website to see what's new for 2011.  Not to be out done Intuit has been busy integrating new features to make "Everyday Tasks More Efficient".     Easily download bank transactions; email Invoices and Statements; Company Snapshots show trends from year to year. 

My recommendation - stick with a full on program.  Everything's in one place and best of all it makes filing your Year End TAXES a piece of cake.

Filing can be Fun!

Ok, I think filing and organizing get a bad rap.  It's not the funnest part of running a business but it sure makes finding that all-important receipt when you need it.



To liven up the task, check out these fashionable supplies available at Office Max and Office Depot.   Too much brown and beige can be so dull and boring.

These trend-setting supplies will set the tone in your office and you'll feel so up-to-date when meeting with customers and clients.

Spice up your office space with colorful desk accessories like these red organizers.  I'd choose jazzy and functional over boring and unuseable any day.   As you're browsing through the aisles look for items that might be for another purpose but will work great in your office.

I like these woven totes with handles for stacking on the shelves in my office.  They're easy to life and move to another room.  If I'm working on a big project I will find an engaging movie and get my filing done practically painless.   A glass of wine isn't out of the question either....fun is in.


Here's a short list of supplies you'll need to get started:
File Box

File Folders

Correction Tape
Binder Clips
Favorite Pens
White Board(a great place for your To-Do list)
Stand-up Stapler - very handy!
Sharpies
Envelopes

Getting organized and creating systems saves time, energy, and frustration...which all translates to saving money...that's smart.

The Power Chicks' Founder Lynn Baldwin Rhoades as Featured Friday

As this week's Featured Friday interview Lynn Baldwin Rhoades shares her inspiration and challenges with us when starting out as an entrepreneur.   Lynn is a smart writer who really delivers for women with Marketing Shebang and appeals to women entrepreneurs with The Power Chicks. 

What was your motivation to start The Power Chicks?

I was a new business owner myself and leapt out of a corporate environment, not prepared to be an entrepreneur. So I wanted to get a small group of women together to network, support each other, and help each other find resources. But the “small” Power Chicks group got super-big…so many women needed the same kind of support I wanted, too.

What do you know now that you wish you would have known before starting The Power Chicks?
How much my own individual need would be mirrored or shown in other’s lives. Power Chicks is in about 10 countries – and there are around 3,000 members. The majority is in the US and small group in Canada and the rest across the globe.

Have you had any mentors or role models?
I confess I’m a full-fledge “online stalker” – I watch and learn from what others are doing. I’ve been watching Lisa Rankin of Owning Pink for a long time; I love what she’s doing in her authentic manner. As for “real-life” mentors, I’m looking for one. I think we all need mentors.

As your business grows, how do you get it all done?  Do you have any systems or streamlining in place?
I have a lot on my plate, and I am not very organized. I actually get quite blocked with the chaos of it all! In the next several months, I’m determined to find new strategies – ways I can accomplish my goals without being so mucked up in the details that sap time.

What personality trait serves you best in The Power Chicks?
I think being real. Being honest. Although, this can make me feel vulnerable sometimes!
I was on the Sisters of Sizzle radio show yesterday and shared a story about being insecure at a women’s networking event. Afterwards, I thought, “Why did I share that?” I didn’t let my brain take me down that slippery slope of self-criticism, but I do think because I’m willing to be open, people can relate to me. I mean – don’t we all have those moments? And at the end of the day, I want to see us all succeed at our biggest dreams; who we’re supposed to be...and not just our businesses.

Did you dream of being an entrepreneur?
No, I was going to be a nurse, a missionary, a firefighter and then a writer -- which I ended up being.

How much do you trust your intuition in your business world?
I go back and forth a bit…some days I trust myself a great deal and other days, not so much. I do know the more grounded I am, the more I trust what I have to offer the world.

Are you more of a collaborator or more of a go-it alone gal?
I’m actually both. I’m introverted at heart, which means I process things individually in my own head. I need to come to my own solutions, so in that way I’m “go it alone.” But as for collaborating, I love working with people. I have certain strengths and you have certain strengths, and when we come together, we are that much more powerful.


Favorite Movie : The Whale Rider, because it makes me cry. Gran Torino, because it makes me think. 50 First Dates, because it makes me laugh.

Favorite Song: I don’t have one.  I do enjoy music, but rarely remember the names of the songs!

Favorite Book: Gift from the Sea by Anne Morrow Lindberg.

How the.....?????

Cruising around Facebook, Twitter, blogs, newsletters, webinars we often hear WHAT we need to do to be successful but rarely do we read about the HOW to do the WHAT.

Recently, I had conversations with several women entrepreneurs that were so frustrated they are running in circles reading information from five different sources and each suggesting something different.  How's a savvy, smart, and resourceful business women supposed to know which way to turn?

I feel your pain.  My expertise is on the business side of business.  I've owned and operated businesses for over 30 years so I'm good there. Where I get stuck sometimes is in figuring out which Social Marketing site gets me the most traction or figuring out which hosting site is best, and blogging vs. websites.

So where do you get stuck?  Do you know What you're supposed to be doing every day but have no clue the How of it all?

Post your questions and we all might get this all figured out together.

Sherry Sexton of Imagine Coaching - Featured Friday

Imagine Coaching founder Sherry Sexton has a broad and deep background in business.  I had a chance to interview her recently and was truly inspired by her insight into women and their issues in business and with money.
Sherry is currently taking nominations for women to have a chance to work with her Paying it Forward program.   You nominate another women entrepreneur and she gets a one hour phone coaching session with Sherry - talk about generous. 

What do you know now that your wish you knew before you started this business?
The fancy website and tri-fold glossy brochure were totally unnecessary- who was I trying to impress?
That I would have asked for more help from others- not go it alone!
Lastly, that it was ok to keep a day job and start my company part-time

Do you trust your intuition…what happened when you ignored it….or embraced it?
Try to trust my intuition most of the time- if I ignore it, I may work with a client who was not a good fit and tends to create more negatively in my life- which I try to avoid.
When I embrace it the possibilities are endless.

What mentors or role models have inspired you?
Personally, I am an avid Oprah fan in regards to helping other women and making a difference in the world
Professionally, the many coaches who have guided me along my path, especially best- selling author, Robyn Spizman and my greatest mentor and close friend Mike Michalowicz, author of The Toilet Paper Entrepreneur.

Do you have any streamlining or systems in place?
Still learning that lesson- I use Constant Contact to keep in touch with clients, excel spreadsheets to retain new client database, and excited to start a new blog service- http://www.blogstampede.com/.
Oh, and did I forgot to mention my personal assistant who helps me both physically and virtually.

What personality trait serves you best in business?
Tenacity - never, never, never give up on your dream.

Are you better at collaborating or going it alone?
Absolutely better at collaborating, I totally promote co-affiliations and joint ventures to my clients.  Mainly to ensure you are on track and have someone to help with your projects. Everyone wins- those collaborating and the clients as well!

What was your business before you were a coach?  Why did you know you wanted to be a coach?
I was in sales and marketing for over 20 years, went back to school at a mature age, hired by major pharmaceutical company but knew there would come a day when I would not want to jump in and out of a car everyday.   I was always searching for my passion and interested in helping others, so while working my day job in pharmaceuticals, I decided to pursue a masters degree in mental health with plans to be a therapist. After graduation, I met a coach and felt that would be a better fit for me- helping others find their passion!

Fave Song and why?

Wind Beneath my Wings - unconditional love and support between women.
Fave Book and why?

Of course, mine, The T-Shirt to Prove it!- because it speaks to the journey of 25 passionate women entrepreneurs, their successes as well as their challenges

Fave Movie and why?
A Beautiful Mind - because I believe in the impossible.

Virtually Savvy owner Katie Kay - Featured Friday

With social media and social marketing, keeping up with your books, selling your product and services, email newsletters, how do you get it all done?

That's where using a virtual assistant comes in - outsourcing the jobs you don't want to do or don't know how to do is the way to go.   As business owners we have more and more tasks every day...keeping up with Facebook, working with clients, and having a personal life it's smart to use a savvy virtual assistant - Virtually Savvy!  

Katie Kay, owner of Virtually Savvy, and I sat down for an interview recently so my readers would know more about using a VA and the services they provide.

Here's our interview...

What was your first job experience?
I’ve always worked….1st job at 15 was a phone sales person…always in sales. I like people and I like to talk to people.

What got you into Virtually Savvy?
Being technically savvy…I love computers and technology.  With katiekay.com, my online accessories store, I just dove into marketing and did it myself. The best advertising was on the internet and not paper based.   Five years ago social marketing was emerging and as it became more mainstream people started asking me to do it for their business.  I’m passionate about it and get a thrill showing other people what they can do online.

What do you know how that you wish you knew before you started?
How to price my services...I wasn’t charging what I am worth when I first started.

Realistic price point…I wish I would have known how to gauge my pricing better.   How to better value myself.   Through coaching from different women entrepreneurs and joining Virtual Assistance Corporation,  I learned my pricing was undervalued for me and the industry.   I also found myself spending a lot more time and doing so much more then originally discussed with the client, (and still do), for not much money.   In the beginning, I wish I would have put more time into researching how much other VA’s and social media marketing consultants were charging.

Do you have any mentors or role models?
I am constantly reading and searching online for the newest, latest, greatest information and training.   There are 2 fabulous experts that I really love to work with online, they keep it fun and really know their stuff, and they are very generous with their knowledge.

As your business grows how do you, the virtual assistant, get it all done? Do you have any systems in place? 
I use Hootsuite and recommend it to my clients. Their dashboard allows you to enter many different posts at one time to all your marketing sites, such as, Twitter, Facebook, LinkedIn and your blog.   That way I’m able to see what I posted each day and mix them throughout the week.


I have money-saving pre-paid packages for my clients, this allows them to purchase blocks of time at a discounted rate. For in-person consultations they pay by check or PayPal at the time of service.

What personality trait that you have serves you best in your business?
I understand that not all people are technically savvy and tailor my teaching to each individual’s skill level.  All questions are valid and I respond to them sincerely.  Patience and a sense of humor are very important to me…this is free marketing and it should be fun.

Do you trust your intuition? Any stories about when you did or didn’t?
Yes, for sure I do.   I really try to listen to that inner voice.  While running a retail business I had clients asking for my help with online marketing and computer navigation. This was not at all the focus of my business but the need and desire was apparent, so on Jan 1st 2010 I launched Virtually Savvy and re-directed my energy to this new venture based solely on a gut feeling.   Listening to my instincts allowed me to transition from a business that was not growing into a potentially lucrative endeavor.

Are you better at being a collaborator or going it alone?
I’m good at both.  I am very particular and like things done a certain way.  Being a self-starter and self-motivated I have never really needed anyone pushing me or peering over my shoulder, I always get the work done.  

Collaborating and brainstorming with associates and clients is enjoyable, inspiring and can have an empowering effect on all.   So, I do like to collaborate on creativity and design but go it alone when it’s time to get the work done.  As Virtually Savvy grows I have hired help to get special projects done, but I oversee it all making sure it’s their best work and up to my standards.

What’s your favorite book?
My favorite book of all time Memoirs of a Geisha.  One of the best written books and I’ve reread it many times.

and your favorite movie?
The Wizard of Oz.   One my favorite memories is rushing to my Dad’s lap when the witch or the flying monkeys came on screen to hear him whisper to me …”It’s ok. It’s not real. It’s a movie”.

and finally your favorite song...something that really inspires you?
Aretha Franklin and Annie Lennox's ..."Sisters are doin' it for themselves".


Thanks Katie for the interview...loved learning more about you and your business.