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January 15, 2020

QR Codes: The Future of Marketing

Make room for the next big thing — QR codes. What’s a QR code? It’s essentially a wacky looking, matrix barcode users scan with a camera-enabled smart phone. Scanning the QR code connects the user to a mobile-optimized web page, video or photographs or activates functions such as email, SMS and IM. The free QR codes are simple to produce, distribute and display.

QR codes, also known as Quick Response codes, were invented in 1994 by a Toyota subsidiary, Denson-Wave. QR codes are well known in Japan and South Korea. Recently, QR codes have created a buzz among US marketing specialists. In the US, well known companies such as Macy’s, Best Buy and Post Cereals use them to enhance their marketing campaigns.

The Nielsen Company forecasts, by the end of 2011, more than half of all US citizens will own a phone capable of scanning QR codes. The user just needs to add a phone app. QR codes are appearing in major print publications, on buildings and storefronts. In the US, the demystification of QR codes has a ways to go but it won’t be too long before they’re immediately recognized, understood and scanned by US consumers of all ages, shapes and sizes.

Ways Your Business can Take Advantage of QR Codes

Savvy marketers use QR codes to drive customers to a specific web page. Simply placing a QR code in a print add is not enough. Grab the consumers’ attention with an enticing call-to-action statement placed next to the QR code. For example “scan for a great offer” or “scan to enter to win a prize.” Don’t harm your brand with a disappointing offer or prize. If you do it right they’ll eagerly come back to your website. Something to think about: Why should the audience take the time to scan my code?

Americans like freebies. Entice consumers to complete your mobile-friendly survey with giveaways. What’s the objective? With their permission, gather their email addresses for additional marketing messages. Surveys can lead to sales.

Provide additional company and product information with Quick Response codes on product packages and literature.

Use QR codes in print ads to bring traffic to focused information on your website.

QR codes linked to videos can help bring your products to life.

It’s not common, but some companies design a QR code to automatically dial a predetermined telephone number. Before using this bold marketing technique, think about this: From the consumers’ perspective, what’s in it for me?

Linking a QR code to a desirable coupon entices users to scan the code. The coupon is automatically saved on the users’ mobile phone, providing the user an easy way to keep the coupon. They can also provide a copy to friends, aka other consumers.

Quick Response codes properly placed in retail stores make it easy for customers to sign up and become part of the store’s social community.

You can provide access to user manuals in an array of languages through a QR code link.

Where to Place QR Codes

QR codes can be printed on almost anything. Marketers incorporate QR codes with billboard ads, posters, in-store displays, business cards, contests, print ads, direct mail campaigns, coupons, email marketing etc.

For major events, put your QR codes on all your promotional material such as stickers, flyers, press kits, merchandise tags etc. Use a plug-and-play CMS to update the landing page throughout an event.

Create your own QR codes for free at websites such as at Kaywa.com and rasoftwarefactory.com. Learn how to make attention grabbing, attractive QR codes.

Analytics

Set up your QR code and the associated mobile webpage with analytics. Now you’ll be able to follow and optimize your campaign. You’ll learn how many scans a Quick Response code gained and how long the average user spends at your website. You can measure how advertisements containing QR codes are driving your sales.

Expand Your Social Media Audience

Design a QR code to connect directly to your company’s Twitter stream or Facebook page – it provides users the opportunity to “follow” or “like” your company.

Near Field Communication (NFC)

NFC is a wireless communication technology which lets devices exchange data over distances of about ten centimeters. Google uses a mobile payment system, relying on NFC. Google stated they’re “exploring new ways to enable customers to quickly and easily find information about local businesses from their mobile phones”. Some experts in the field suggest Google will someday push businesses to use NFC for some of their communications.

For now, the QR code is the hot marketing tool. When used effectively, QR codes gain the attention of customers and produce sales. They also help your company maintain a modern image.

January 8, 2020

Top Tips to Motivate Your Sales Force

Motivating your sales team is not merely a matter of reaching for your wallet and offering more money. In fact, money is one of the less effective predictors of employee success.

Instead, you can reach for a more lasting impact by considering the emotional and psychological factors that drive performance.

Maslow Has the Answer
At college, you may have studied Maslow’s hierarchy in Psych 101; this familiar, colorful triangle demonstrated the fundamental human needs beginning at its base (physiological needs — air, food and water, sleep) and ending at its point (self-actualization, or achieving wisdom).

Near the top of the triangle are two more layers: social needs and esteem needs. Down much lower on the hierarchy comes money, as part of the “safety needs” that include job security and medical insurance.

What does Maslow have to do with closing sales? You can use the hierarchy to get a better handle on motivating your sales team. And because different people are driven by different needs, you will call upon your human resource and managerial skills to recognize the motivators among your staff in these categories:

Social needs include the drive to attain friends and belong to a social group. Sales people, who are typically outgoing and gregarious anyway, might respond well to small gestures you make — sending a thank-you card on behalf of the company, showing up with a birthday cake, or granting an invitation to join a new-business strategic team, task force or some other “exclusive” group.
Esteem needs are driven by the desire to gain recognition, status, attention and a sense of accomplishment. It’s easy to imagine many sales reps seeking such validation. You can fulfill esteem needs by publicizing a great sale, making promotions publicly known, by interviewing a top performer for the company newsletter or blog, or asking him or her to mentor new employees.
Finally, self-actualization refers to those motivated by such intangibles as truth, wisdom and meaning. Few people achieve and maintain this level of awareness in life, much less in business, but if you recognize such traits in a sales rep, you can foster it by enrolling her in special training to grow her skills, by giving him your most challenging customers (and letting him know why he was chosen), or by asking her to assess the entire organization’s sales tactics in pursuit of better results.

Does Money Talk?
So is there still a place for money as a motivator? Yes and no. A bonus or raise can prompt short-term performance, but money on its own is not a long-term motivator, even in a volatile job market. Once a sales rep reaches a comfortable living wage, he or she is less likely to see more money in the same desirable light as, for instance, more responsibility or more recognition.

Say It Right
In any recognition you offer, make your gestures sincere, specific and timely.

For instance, “You did a good job today” is a general compliment, while “Denise, you did a good job today addressing that unhappy customer” is specific.
Be aware of whether a sales rep desires public recognition — some people don’t. If they appear uncomfortable being the center of attention in a staff meeting, for example, save your praise for a one-on-one meeting.
Don’t wait to recognize accomplishment — make recognition a priority, not an afterthought.

December 11, 2019December 4, 2019

Top Ten Questions a Startup Should Ask an Accountant

When you’re starting up a new company, the temptation is to wear all the hats. After all, it’s your baby and no one understands it like you do. Of course, there’s also the matter of that pesky budget. It stretches a lot further when you’re employing a staff of one.

Of course, the reality is that you can’t do everything yourself. And speaking of budgets, the one area where you truly need some help is your finances. It would be so much simpler if business accounting was just a matter of addition and subtraction. But it’s a complex minefield that takes experience to navigate.

It’s too important of a position to leave to chance. In other words, don’t Google “accountant” and select the first one that pops up. Shop around for a financial expert just like you would for inventory, supplies and equipment. He’ll be working for you, so he should meet the qualifications that you’re looking for.

You don’t have to meet with a prospective accountant in person, but don’t rely on email. If you can’t meet, use Skype or the telephone. Hearing an actual voice helps you get a better sense of a person. Is he confident and well-spoken? Does he hem and haw while searching for answers? This could be the first step in an ongoing relationship, so start it on the right foot.

Be sure you do your homework before your meeting. Here is a checklist of questions that will provide much of the information you’ll need to make an assessment.

How long have you been in business? A fledgling firm may not yet be experienced enough to handle your concerns. On the other hand, an accountant who’s been in business for many years may be on the verge of retirement. Find out what the plans of succession are so you’re not left hanging.
Will I be assigned to one person? Some accounting firms operate on a call center basis, with associates taking calls on a rotating basis. If your account is specifically assigned to an accountant, the two of you will be able to develop a relationship and he’ll get to know your particular business much better.
What services do you offer? There are several subcategories under the heading of finance. Are you looking for tax preparation help? Do you want someone to handle budgeting and cash flow management or strategic planning?
How often will we be in contact, and by what means? You want to be on the same page with this issue. If you want to be able to consult on a weekly basis, you don’t want to find out afterwards that he’s available only once a month. Just as with your initial meeting, you should also be able to have personal contact, at least for the major meetings.
Are you available year-round? Some accounting firms are open only during tax season when demand for their services is at its peak. However, as a new business you’ll need advice during the rest of the year as well.
What types of businesses do you work with? Restaurants have a different financial agenda than contractors, who in turn are different from graphic artists. It helps to find an accountant who’s familiar with the type of business you’ll be operating.
How do you bill for your services, and what’s included in your fee? Some accountants bill by the hour while others charge a flat rate. You might want to consider the former if you’ll be handling most of your finances in-house and consulting only on major issues. Find out exactly what’s covered in the rates so you don’t end up getting nickel-and-dimed on services that turn out to be an extra charge.
Do you follow a conservative or aggressive approach? Nearly all financial matters come with risk, and business finances are no exception. For example, some accountants will beat the bushes to write off every possible penny. Others are reluctant to put a client in a position of possibly being red-flagged for an audit. Determine where you fall on this continuum so you find an accountant whose views are compatible with yours.
How will I be informed of relevant changes in my industry? A good accountant should keep you abreast of current news and events pertinent to your business, particularly changes in tax regulations.
What type of accounting software do you use? If it’s not the same as yours, ask how information and data will be exchanged.

This list can be supplemented or modified based on the needs of your specific business. Overall, it gives you a solid platform to find an accountant who will work as hard for your company as you do.

At Medallion Fulfillment and Logistics we make it easy for startups and new businesses to grow with thoughtful services and flexible order fulfillment options. Call us today to get a free price quote so you can focus on growing your business and leave the shipping to us.

December 4, 2019November 26, 2019

How to Use Facebook to Build Your Customer Base

A 30-second Super Bowl commercial cost $3 million; not exactly chump change. Granted, that 30-second ad had the potential to reach an expected 110 million viewers worldwide; but what is interesting is that, this year, Super Bowl advertisers were not as focused on the immediate marketing impact of their ads as they were on using them as teasers to draw viewers into interactive Facebook and Twitter conversations.

The power of social media to connect with consumers, drive brand recognition and build customer base is changing the way businesses connect with consumers. Social media marketing capitalizes on the same type of good will and loyalty that people afford their friends to convert casual site visitors into product consumers. Using special promotions, contests, surveys, games, videos, polls and wall dialogs on their Facebook page, businesses develop a friendly, accessible, interactive relationship with potential customers. In effect, Facebook humanizes your business, transforming it from a faceless, corporate “it” into “one of the guys,” someone consumers can trust and count on and want to do business with.

As casual as this business-consumer relationship may seem, it is important to differentiate between a personal Facebook page and a business Facebook page, also called a fan page. Your business fan page should focus exclusively on your products and brand. Because Facebook requires accounts to be tied to a personal email, it’s smart to open a separate email account for this purpose to keep your business and personal lives separate. Access settings on your Facebook business page should also be adjusted to prevent access to any personal information.

The Doritos “Crash the Super Bowl” promotion is an excellent example of how interactive Facebook promotions build brand recognition and excitement. Doritos was a fading brand in 2007 when it first invited consumers to create their own Doritos commercials, then allowed Facebook fans to vote for their favorites, and aired the top vote-getter during the Super Bowl. Since then, the annual promotion has drawn thousands of entries (5,000 this year), driven hundreds of thousands of fans to Doritos’ Facebook fan page, generated months of positive brand buzz, and made Doritos the best-selling tortilla chip in the U.S.

Savvy business owners know that to sell a product you have to take your pitch to the consumer. Today, that means social media, and Facebook is where the action is. Facebook boasts 500 million active users, 50% of whom log onto Facebook daily. The average American Facebook user spends about 15 minutes a day on Facebook, more than double the amount of time spent on all other web programs. Advertising your product where it can get that kind of attention at zero cost –Facebook is free — is a marketing asset you can’t afford to ignore. The real beauty of social media marketing, however, is that each consumer contact has the potential to explode exponentially as fans share “liked” sites with their friends. According to Facebook, the average Facebook user has 130 friends. If just one visitor to your Facebook page shares a link to your site with his friends, traffic to your site can mushroom quickly.

You don’t have to be a corporate behemoth to put social media to work for your business. Facebook is ideal for small business owners. It’s free, business pages are easy to set up and there are hundreds of optional applications available to handle Facebook’s more sophisticated features. Social media has the power to take your business to a whole new level and it won’t cost you a cent. If your business isn’t on Facebook yet, what are you waiting for?

November 27, 2019November 7, 2019

Ten Mistakes That Can Kill Your Startup and Business

It’s often said that the devil is in the details. Those are wise words to keep in mind when running your startup or business. Yes, it’s your responsibility to be far-sighted and make decisions based on the big picture. But many companies have stumbled in the long run due to neglect of an issue that looks frustratingly simple in hindsight.

Don’t let your business become one of these needless casualties. Take advantage of the wisdom of those who have gone before you. Use these tips as a checklist to keep you on track with those tasks that can easily be overlooked.

1. When starting your business, give careful thought to the systems and processes you’ll need and implement them right away. This might seem like something that can be done later on. It’s not. Once your company is up and running, you and your employees will have already established certain routines. It’s difficult at best and impossible at worst to try and shoehorn those behaviors into a new framework.

2. All the preparation in the world means nothing without execution and follow-up. Don’t fool yourself into thinking that “research” is actual work. While it’s important to make informed decisions, it’s easy to procrastinate under the guise of gaining education. Make sure you turn that knowledge into action.

3. Be in the business of providing solutions. Your product or service may have all kinds of shiny bling, but for your potential customers it comes down to only one question: what’s in it for me? They don’t want to hear how big or fast or inexpensive it is. What they want to know is what problem it will solve for them.

4. Don’t be so arrogant as to think that paying a bill means you can treat your suppliers like an afterthought. Make every effort to cultivate an honest partnership with suppliers. There will absolutely come a time when one of them can bail you out of a sticky situation.

5. Social media is no longer a fad. It’s here to stay, and it’s just as competitive as every other aspect of the business landscape. Treat your website, Facebook, Twitter and other sites as major parts of your marketing program. Prominent placement of social share buttons makes it easy for customers to pass along your content, especially when you make it worth their effort with engaging material.

6. Entrepreneurs often make the mistake of thinking they can run the whole show themselves. Put your ego aside long enough to recognize your own limitations. The most successful business owners are the ones who hire people with talent and skill to make each area of the company as strong as possible.

7. Take a lesson from the squirrel gathering acorns in preparation for a long, cold winter. Marketing sometimes takes a back seat when business is booming. When sales hit a lull, as they inevitably will, the company hits the wall with no prospects in the pipeline. Your marketing strategy should be aimed at building ongoing relationships to sustain a consistent pool of regular and potential customers. This is another reason to integrate social media into your efforts.

8. Let your company’s size work in its favor. People have grown weary of the impersonal experience provided by large corporations. Instead of trying to make your company seem bigger, emphasize its flexibility, effective customer service and other advantages offered by a small business.

9. While sales and profits are vital, cash flow is the true lifeblood of your business. If you don’t know how to read a cash flow statement, learn now. Lack of available cash is one of the biggest icebergs that sink small companies, so be sure you’re equipped to know where yours is going.

10. Business owners and executives tend to boast about being a workaholic as though it was a positive trait. Stress and burnout will cost your company financially just as surely as they affect you personally. Time for yourself should be planned into your list of priorities. Even a long weekend away can pay significant dividends in renewing your focus and energy.

Running a successful business takes more than a little money and a lot of good intentions. These tips can serve as your map, steering you away from the dead ends and keeping you moving in the right direction.

When you need to kick your business up a notch and you are ready to let go of running a warehouse out of your garage and are tired of taking packages to UPS, Medallion Fulfillment and Logistics is here to help with cost efficient, headache-free pack and ship solutions. Call us at (818) 998-836 to get a free price quote today.