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Online Reputation Management and Your Brand

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A business owner’s work is never done, it seems. Along with recruiting customers in an increasingly challenging business climate, fulfilling customer expectations, providing excellent customer experiences and instituting procedures that ensure pleasant and efficient after sale support when needed there is, as well, the responsibility to monitor and manage the online reputation of your brand, your business and you. Creating, enhancing and perhaps also defending the online reputation of your brand must be an ongoing component of your company’s PR and SEO marketing strategies.

Developing and nurturing an appealing and trustworthy brand for your enterprise has always been the cornerstone of comprehensive and effective marketing campaigns and strategies. The pandemic-induced acceleration of numerous online communication formats has compelled business owners and leaders to amplify the online presence of their brands in order to effectively compete.

As a result, it is more necessary than ever to carefully curate, align and script all marketing themes and messages used to promote your brands along with the associated image, audio or video content posted to an array of platforms. Business owners and leaders would be wise to actively shape and manage the online image and reputation of their brands to continually reinforce brand narratives and positive perceptions.

Online Reputation Management is now an ever more critical branding function, essential as you develop marketing and branding strategies that build name recognition with the power to attract customers. A trusted brand is a valuable resource and can create for your business a loyal troop of boots-on-the-ground influencers who are motivated to write positive reviews in online rating sites and dispense word-of-mouth endorsements that can make or brake your business. From the online content that communicates relatable brand stories that build trust and loyalty within your target market to search-friendly platforms and key words that promote your brand’s online visibility, you can create an electronic architecture that supports and sustains an appealing and confidence-inspiring brand.

To help your business overcome the multi-year impact of the coronavirus pandemic, do what you can to allocate resources to create and implement a robust Online Reputation Management strategy. For best results, assess the efficacy of your online branding strategies by employing the tactic of social listening.

The act of monitoring social media and other online platforms helps track mentions and notifications about your brands and facilitates quick responses to customer compliments or complaints, which are the building blocks of an effective engagement strategy. Social listening means discovering patterns and connecting the dots in the comments or questions heard in monitoring. Social listening reveals to you the big picture—not just the trees, but the forest—and encourages you to analyze the context and larger trends that surround those (online) conversations, so that you might discover opportunities to act that enable you to better speak to and serve your market.

The customer data and marketing platform Clutch.com recently reported the following:

  • 54% of digital marketers consider Online Reputation management necessary for the success of their company
  • Brands frequently utilize social listening, following the social media outlets favored by their customers, to gain insights into what is trending or waning in customer preferences and priorities
  • The primary benefit that companies gain from investing in Online Reputation management is growth in sales
  • 35% of businesses queried plan to allot more time and money to Online Reputation management

Thanks for reading,

Kim

Image: Fredric March as Dr. Henry Jekyll in Dr. Jekyll and Mr. Hyde (1931) directed by Rouben Mamoulian

Business Strategy , , Leave a comment

Moving the Needle on B2B Sales Deals

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Selling B2B professional services is no day at the beach, as you’ve probably deduced by now. Getting B2B sales deals across the finish line can be an uphill marathon that leaves you face down on Heartbreak Hill. Unlike your B2C colleagues, you can’t ride the wave of multi-million dollar product launches or other advertising campaigns to convince prospects of the amazing benefits that your product or service delivers.

Moreover, there are no impulse buys in B2B, no equivalent of customers adding candy to their shopping basket while waiting in the check-out line. Your marketing campaigns and sales pitches speak to business goals with a deadline and problems that must be resolved.

On top of that many, if not most, B2B services that Freelancers provide are unlike the various software as a service products that can be easily compared and evaluated, feature by feature. Once a prospect has found you, it’s necessary to pitch your solution in a narrative mix of hard facts and soft skill intangibles that portray you and your capabilities as an effective and trustworthy choice.

In some instances, you may even work to convince a prospect that there actually is a problem to solve, that something can be done in a faster or easier way. As a result, the sales cycle of the typical Freelance consultant is long. So what can you do to keep the pipeline filled and your cash-flow positive now and into 2022? There are some cultural shifts to keep in mind as you consider strategies that you might implement.

The Great Resignation factor

In the early 2000s, I started to notice that important contacts at companies with whom I worked regularly disappeared in about two years. Not good! So much of obtaining repeat business depends on relationships. It costs you money when an ally leaves a prospect’s decision team. You may not know where they’re going next and they usually don’t take you with them by introducing you and your services at their next assignment

This phenomenon is detrimental to the future of your business. The Great Resignation factor (addressed in the September 7, 2021 post) has heightened this trend. Freelancers are advised to include this reality in client pursuit and post-project client retention strategies. You can’t control what will happen, but knowing that a change is brewing gives you the opportunity to ask who will join the project discussions, so you’ll have a chance to begin building a new relationship, starting with an email introduction.

The 2021 LinkedIn Global State of Sales Report, which surveyed 7,500 B2B buyers and sellers in 11 countries, advises sellers to stay current with intel about project decision-makers and stakeholders. The survey found that 25% of decision-makers either change roles or leave the company in a given year. The survey also found that unfortunately, 85% of sellers reported that they lost at least one sales deal, or that a deal was delayed, because a key stakeholder left his/ her job. Of the many advantages acquired by tactfully remaining in touch with the primary decision-maker and influential stakeholders of every potential sales deal is receiving updates regarding who’s on and who’s off the team.

The Work From Home factor

Some companies have at least temporarily continued the work from home protocol for their employees when possible, but many have begun asking staff to work on-site at least 2 – 3 days/week. Still, the practice throws cold water on face2face sales meetings. The 2021 State of Sales Report indicates that B2B virtual selling gives the advantage to buyers, however McKinsey reports that 76% of B2B buyers prefer in-person sales meetings, or at least a telephone meeting. when evaluating a product or service that they’ve not used before. Zoom is convenient but apparently not considered ideal for first time meetings.

When appropriate, McKinsey found that 46% of B2B buyers say they’ll make purchases online online, but only 10% do so. Notably, 46% of B2B buyers feel it’s too difficult to compare the available products online. These buyers also are dissatisfied by the frequently slow responses to their inquiries.

The Digital transformation factor

Warning: 70% of digital transformation initiatives fall short of expectations. McKinsey reported that companies achieve the best results when a combination of human and digital interactions create a hybrid buyer’s journey. Because prospective buyers appreciate fast answers to their basic questions about your products and services, installing a chat bot and adding a FAQ tab to your website will expedite the delivery of information and facilitate a satisfying buyer’s journey that instills trust in your company and its solutions.

If you are tech savvy, explore and evaluate UX (user experience) and UI (user interface) digital tools. The free Adobe XD starter plan lets you design digital features that maximize the impact of touch points along the buyer’s journey, after-sale service experience and other customer service experiences that you’d like to enhance. Think carefully about how much digital interaction your prospects and clients will appreciate and strike a balance between digital and human communication.

Thanks for reading,

Kim

Image: Commodities traders at the Chicago Mercantile Exchange (founded in 1874)

Administrative , , , , Leave a comment

Cash-Flow Cures

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Cash-flow is the beating heart of every for-profit (and also not-for-profit) enterprise and it is imperative that business owners keep a finger on the pulse of revenues that flow in and expenses that flow out of the coffers and constantly monitor the venture’s fiscal health. Your ability to pay recurring bills, invest in the business and maintain operations depend on it.

There are several Key Performance Indicator metrics that reveal the strength (or weakness) of aspects of the business—the number of active clients, the number of subscribers to your blog and/or newsletter, the conversion rate of sales leads and the percentage of clients who give you repeat business, for example, and each tells an important story. But in the end it’s about the money, how much comes into the business (accounts receivable and whatever additional income) and how much goes out (accounts payable, plus interest payments and taxes).

Follow your cash-flow

If you send only a few invoices each month and generate them yourself, why not create an Excel spreadsheet and enter your receivables and payables data there, at no charge? You can monitor invoices (accounts receivable) and update as payments are received. Each month, you can easily calculate revenue. Monthly bank and credit card statements, PayPal emails and updates from online payments, made or received, will verify your accounts payable activity and confirm receiveables that are paid.

You can record it all in Excel (and label it your Profit & Lost Statement) and understand whether you’re making money, breaking even, or losing money when you view the bottom line. With that knowledge, you can create strategies to capitalize on your financial situation or correct it.

If you’d rather pay for an invoicing and accounting service, there are several good options available, including Fresh Books, HoneyBook, Invoice2Go, Oracle’s NetSuite, QuickBooks, VCita, ZarMoney and Zoho Books. The platforms make it easier to send invoices, reconcile accounts, generate reports , track time spent on project work and more.

Evaluate expenses

Examine your company’s recurring monthly, quarterly, or annual expenses. Can you trim the cost of utilities, renegotiate commercial space rent or insurance payments? Why not terminate premium services or other subscriptions that don’t deliver as you anticipated? Ditto for organization memberships that you can’t find the time to utilize.

The work from home phenomenon should help you lower your rent for office or other commercial space. If your landlord balks at dropping the price, consider asking for more space, if you’ll find it helpful, or ask for perks such as a discounted maintenance fee.

If you have a history of paying bills on time, call your insurance, credit card and loan companies and ask for a lower interest or premium rate.

Demand a deposit

When a project fee reaches a mid 4-figure sum, request a 10% – 20% up-front payment at the contract signing. Link subsequent payments to the completion of project milestones. Aim to leave no more than 25% of the fee payable at project completion. In other words, help your monthly cash-flow and revenue by scheduling most payments before the client has what s/he wants. If the client is unethical and “forgets” to make the final payment, you’ll have most of the money in your pocket.

Invoice on time

The thing about being a Freelance consultant is that unless you are a big-league player, invoicing, proposal preparation and other administrative tasks are done on your time. Remember that when negotiating project fees and try to roll it in.

I find invoicing to be a chore, but that’s how I get paid. Within two weeks of the completion of whatever client work you’ve done, train yourself to invoice. On your invoice, state that payment is due upon its receipt.

No-problem payments

If you sell products or provide services at your clients’ homes or offices, enable on-the-spot invoice payments with mobile apps that use your smartphone or tablet to accept credit or debit cards. Investigate mobile payment platforms such as Helcim, Payment Depot, Square, Stax and Stripe.

Credit cushion

A business line of credit is a good insurance policy against cash-flow droughts. Talk to the manager at your bank and s/he will be happy to discuss options with you. Most likely, you’ll receive a business credit card, which will be very helpful as you track business expenses, whether you take a prospect out to breakfast, attend a professional development or networking event, or buy a new computer.

As well, if your credit score is good you may be able to more quickly collect receivables from good clients who are, unfortunately, slow payers, by applying for a NOWaccount. Both your company and the client’s company must be approved. You invoice the client as usual and NOWaccount pays you within 30 days, minus a fee. Client checks are made out to you, but mailed to a post office box belonging to NOWaccount. If you have a good client who is a 60 + day payer, you can be well-served with this option.

Thanks for reading,

Kim

Image: Leonardo DiCaprio in Catch Me if You Can (2002) directed by Stephen Spielberg

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Why Are Clients Ghosting You?

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It’s difficult to accept that a potential sale can disintegrate at any point in the sales funnel. Most potential sales unravel eventually, as confused or unsure prospects investigate which products or services might best address their needs and what that solution could cost.

I’ll wager that you don’t take personally the rejection of the TOFU group, early-stage browsers who wander into the top of the sales funnel. It is not until the prospect demonstrates real interest and reaches the BOFU, bottom of the sales funnel, that things get serious. Prospects who reach that stage have real potential to become a client. It’s disappointing when a sale doesn’t happen.

You’ve invested time in your advanced-stage prospects as they’ve traveled through the MOFU, middle of the funnel. You were pleased to learn that an e-book or case study was downloaded; you may have followed-up on that action with an emailed note of thanks and an offer to provide more details on request, or schedule a no-cost half hour phone consultation.

You may be daydreaming about writing a proposal and how wonderful it will feel to add this company to the client roster. So if the prospect abruptly goes silent, ghosting you, it’s rather a painful blow. Why is this happening and how can you fix it?

Let’s figure this out. Prospects can ghost you at any point, although disappearing acts usually occur after the first meeting or phone call, or after a proposal has been received. In the first instance, it’s probably the case that the prospect merely wanted to find out what’s available in terms of products or services and to get ballpark pricing info. These people are fishing, evaluating possible solutions for the problem and they’re not ready to commit to taking action. Let it go.

To separate genuine prospects, who are thinking seriously about doing business, from pie-in-the-sky window shoppers, the best tactic is to ask a couple of direct questions about the problem or goal for which the possible prospect wonders if your organization might provide the solution. If possible prospect is unable to articulate a specific problem that motivates his/her curiosity about your products or services, assume the need is not urgent. Accept that it may be impossible to convert this prospect in the near term, if at all.

If you have information that speaks to some aspect of what the individual is interested in—an issue of your newsletter, a case study, white paper, or even an article by another author, offer to send the information to your inquirer. If you’re able to assist the decision-making process you never know, it may be pay off for you somewhere down the line. You might become the recipient of a referral as repayment of your courtesy.

In the second instance, if your prospect ghosts you after a proposal has been requested and sent, the matter is much more serious. The three most likely obstacles are:

  • Your price is too high
  • Your solution doesn’t seem to address the problem
  • They were talking with a competitor all along and went with the other company

Both pricing and the solution that you put forth in your proposal are best discussed before you commit anything to writing. Whether you discuss these critical issues on the telephone, in a video meeting, or face2face (I wouldn’t recommend emails for matters so important), you must understand what the prospect needs to achieve and when the deliverables must be in hand. You must know that you can provide what is needed, when it is needed and at a price that the prospect will accept.

A proposal answers three questions —1). What will the prospect receive? It should be made clear in your proposal how the strategies and actions that you propose will achieve the goals; 2.) When will the project be completed? It should be made clear that the project deadline can be met; and 3.) How much will it cost? You should have a very good idea of what the client is willing to pay for the product or service you will provide.

A good proposal presents a narrative, with strategies and data and timelines, that helps the prospect understand what s/he will receive, when it will ready and the price.

Regarding price, it is advisable to inquire about the budget as the project specs are being discussed. As the prospect describes what’s on the wish list, start thinking about how much it might cost your organization to deliver. You can mention a ballpark figure and ask the prospect if that is within the budget. Hint: give a high estimate. If the prospect doesn’t flinch, that’s great! If body language and facial expressions indicate that your off-the-cuff price is too rich for their blood, downshift and let the prospect know that you’re confident you can customize a solution that will provide the must-haves and remain within their budget.

Finally, if all seems to have gone well and yet the prospect goes silent, experience tells me that the most common reason for ghosting after a proposal has been sent is that they’ve signed with someone else and they don’t want to hurt your feelings.

Still, it’s not professional behavior, inconsiderate of the time and effort you’ve invested in helping the prospect solve a challenge or reach a goal. You owe it to yourself to follow-up by phone or email and ask for an update, “Are you still interested in our services/product? When would you like to move forward?” You’ve most likely lost the sale, but nudging the prospect to face up to his/her decision allows closure and helps you to move on to greener pastures.

Thanks for reading,

Kim

Image: Elizabeth Taylor won the Best Actress Academy Award for her performance in Butterfield 8. (1960), directed by Daniel Mann

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Support Customers After the Sale

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Now that you’ve signed the contract and brought a new customer to your business, you may feel a mixture of pride and relief. You’re thrilled that your marketing tactics and sales talking points were persuasive. The customer is in-house and you’re ready to exhale.

But not yet. In fact, the real work is just beginning. Whether you’ve sold a product or a service, the smooth execution of project work or the product performance and ease of use are only part of the story. To declare a sustainable victory, you must ensure that the customer is pleased with the decision to do business with your organization. You and your team must enable the feel-good with a series of actions collectively known as after sales service.

The customer experience operates on several levels, including what is traditionally called customer service. In our increasingly competitive business environment, business owners and leaders are now motivated to also manage what happens after the sale because it has impact. The facet of customer service known as after-sales service is the follow-up support that customers receive after they’ve bought your product or contracted to receive your services.

Business owners and leaders typically focus attention on filling the sales pipeline and strive to convert prospects into customers. That approach makes lots of sense, but it is to your advantage to devote a portion of your resources to what happens after the ink dries and payment is received. After-sales service is an important aspect of your customer retention strategy. It is a principal factor in cultivating repeat business, generating positive word-of-mouth that leads to referrals and enhancing the company brand.

Abandon customers once you have their money and it’s highly likely that they won’t return. It’s well-known that dissatisfied customers are bad for future sales, to say nothing of your brand’s reputation. But happy customers are your friends, the most valuable asset in your sales funnel.

The after-sales service your company provides might include advice on how to properly use the product or suggestions on how to get started with implementing the service. After-sales service often amounts to listening to customer feedback and being available to answer questions or give encouragement. In short, it’s a check-in to find out if the customer is satisfied with the purchase and helping to correct any glitches. After-sales service can make the difference between a happy customer who loves doing business with your organization, or one who is underwhelmed or even frustrated.

Customers who appreciate the way you and your team treat them are more likely to share their positive experience with your company and refer you to friends and associates. A 2016 survey conducted by The New York Times revealed that 65% of new business leads come from referrals. A 2011 study of 10,000 customers of a German bank found that customers who were referred to the bank by someone they know had a 16% higher lifetime revenue value than those who were not referred.

So how can you and your team build a winning after-sale service experience for your customers?Depending on your business, you can start the good vibes by sending business-appropriate thank you notes (paper or electronic) to express how much you appreciate that the customer chose to work with your organization.

Create a responsive new customer onboarding system, in which you welcome the customer, as discussed above, confirm customer priorities or must-haves, and also verify time table deadlines (if applicable) and project milestones. Do whatever is possible to make working with your organization easy. Encourage client feedback and listen to identify the onboarding experiences and information that your customers value. Standardize the process and use it consistently to set the stage for a positive working relationship.

Whether or not you send a note, your customer may be very happy to receive a follow-up call or email to get feedback on how, or if, the product or service is delivering and if expectations are being met. When performing project work, communicating progress, with a quick email or phone call on a weekly or bi-weekly basis, demonstrates your professionalism and commitment to excellence.

If the experience is a little bumpy, be ready to make suggestions, offer coaching or training, or even make an exchange. What surfaces in these conversations can be used to evaluate and, if necessary, to build or tweak more responsive after-sale service protocols.

Thanks for reading,

Kim

Image: In Barcelona, Spain a flamenco instructor coaches students

Sales , Leave a comment

Whenever You Call

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If half of what we do to find success is about showing up, the other half is surely about follow-up. Money is regularly left on the table because the person who was awarded the golden key couldn’t make him/herself go to the post office to pick it up.

A handful of hustle and a drop of two of discipline are required for this recipe. When your marketing tactics actually work—-you meet a potential prospect while networking and s/he hands you a card and asks to continue the conversation—-you must respond. Or maybe you want to drum up some business and feel that making a few cold calls will be worth the effort. The operative word is call.

Despite the technological advances that have been made over the years the telephone, patented in the U.S. by Alexander Graham Bell in 1876, has demonstrated staying power. Videoconferencing makes electronic communication more personal but it must be scheduled. Also, WiFi access is needed. The telephone’s audio-only format nevertheless enables good communication and it’s easier to use than Zoom. Plus, it never crashes.

According to a 2021 survey by Indeed, the best time to call a prospect, especially when you’re cold calling, that is, attempting to make your first contact, is between 4:00 – 5:00 PM. At the. end of the day, the prospect is often more inclined to not just take the call and more likely to your pitch. At the end of the day, the prospect is more likely to be at his/her desk, is unlikely to start a new task and is perhaps wrapping something up and is perhaps also more inclined to listen to your offer.

If you’d like to try a morning call, late morning is preferable. Calling during the approach to lunch time, 11:00 – 11:45 AM, is the best time for morning calls to prospects, whether cold calls or warm (meaning the prospect has requested a call).

The best days to call prospects are, you guessed it, Wednesday and Thursday. Monday and Friday are likely to yield less than stellar results for obvious reasons. Tuesday isn’t so bad, but apparently there can be spillover from the Monday rush that takes away some of its appeal.

Script your pitch

It will be very helpful to create a cold call and a warm call script. You want your delivery to be smooth, your language concise, your tone upbeat and, of course, your pitch airtight. You do not want to forget to say something important and you don’t want to be at a loss for words. Neither do you want to sound like a robot who’s memorized the words. Write a script to ensure that you’ll sound confident, conversions, knowledgeable and in control.

Helpful hints

  • Should the prospect take your call, ask if you’ve called at a good time and next, ask if s/he has five minutes to talk.
  • Present your call-to-action not as an urgent push to make an immediate decision but rather to persuade the prospect to commit to follow-up action, as a way to continue the conversation. S/he will likely want to discuss your offer with the team.
  • If a prospect contacts your company by phone or email for any reason, respond within an hour.
  • If you meet a prospect while networking and s/he has questions about your products or services, call or email the next day.

Thanks for reading,

Kim

Image: Tippi Hedren, the original Cool Blonde, in The Birds (1963), directed by Alfred Hitchcock

Professional Development , , Leave a comment

Ride the Speaker Circuit

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In-person happenings are once again a thing and audiences are turning out in response. Now is the time for Freelancers to research business and professional association websites to figure out where and how to get on a couple of calendars, whether 4th quarter or first half 2022. You know that speaking is a time-tested way to demonstrate your expertise, enhance your brand and meet the right people, colleagues or potential clients, along the way.

There are several ways to get in front of an audience. Whatever public speaking opportunities are open to you and fit your agenda and style, you”l be wise to polish your presentation skills before taking the mic. Even top-tier speakers regularly work with coach. Listed below are public speaking formats you might pursue as well as suggestions, aimed at featured speakers, to help you level up your in-person event speaking technique.

  • Moderator or speaker on a panel
  • Podcast or webinar guest
  • Introducing the speaker
  • Featured speaker

Frame your story

We all have stories to share and some are quite entertaining or even inspiring. To turn your story into a memorable communication vehicle, you must learn how to find and present a story arc that appeals to your audience. The best speakers are persuasive storytellers who learn how to shape a beginning. middle and end of their topic that fits both the audience mind-set and also their purpose —-agenda, if you will—-for the talk. Learn what interests or matters to your audience to help yourself gauge what they likely already know about your topic and what new information or perspective they’ll probably appreciate.

Balancing act

Limit the scope of your talk. Avoid trying to address every element. The kiss of death for a speech is giving Too Much Information, in particular if it’s irrelevant to the audience. When you know, or inquire about, who’ll be in the room for your talk, you’ll have a good idea of how to not only frame the narrative but also, how technical (or basic) the information you present should be.

In most cases, a speaker can feel confident to concisely introduce his/her topic, give two or three reasons why s/he finds the subject important and provide three or four reasons why listeners should also care about the topic. In so doing the speaker can describe the problem, describe the search for a solution and celebrate the discovery of the winning formula as a victory by listing benefits that resonate with the audience. People like a hero’s journey story, that is, a tale of solving a vexing problem, the struggle to rectify it and applauding the good things that happen as a result.

Media support

Power Point slides are the go-to presentation visual, but you may want to include a video or audio clip as well. You might choose to forego slides altogether and use one or two video or audio clips. The sweet spot for a clip is 60 – 120 seconds, which is the length that audiences prefer, according to the experts.

If you use slides, presentation experts advise that you refrain from listing on the slides the bullet points of what you’ll discuss; put those on note cards instead. Also, it’s recommended that you avoid the temptation of reading from slides. The experts recommend that slides should ideally be used for images—- charts and graphs, photos, or other illustrations.

Stand and deliver

Most of all, one must rehearse and rehearse some more. Use bullet point notes to map out what you’ll say. Rehearse until you can deliver the talk with confidence, but attempting to memorize your talk word for word may not be possible. You can also work on the physical and vocal aspects of presenting your talk.

In a famous 2011 TED Talk, Harvard University professor Amy Cuddy modeled what may actually be the ideal stance for public speakers. Cuddy recommended that speakers stand up straight, relax their shoulders and knees and keep their feet shoulder distance apart.

Finally, develop your vocal technique. Keep your tone of voice conversational, rather than attempting to sound authoritative or forceful. Make eye contact with a few members of the audience to help both them and you feel connected.

In 1992, a speech coach working with Bill Clinton when he campaigned for the presidency devised methods that solved the riddle of what to do with ones’ hands while speaking. The advice was to pretend that you’re holding a basketball in front of your ribs, palms facing in, to project truthfulness and trustworthiness. Through the talk, the speaker can also bring the fingertips into a pyramid in front of the ribs to project calm and self-assurance.

Thanks for reading,

Kim

Image: Gloria Steinem, women’s rights advocate, speaks in New York City in 2017.

Marketing , , , , , Leave a comment

Will the “Great Resignation” be Great for Freelancers?

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Americans are quitting their jobs. In behavior apparently ignited during the significant chunk of time spent away from offices as a result of the coronavirus shutdown, a surprising number of American workers have decided that they’re not going back to business as usual.

A LinkedIn survey revealed that 46 % of respondents felt that the time spent at home — either on lay-off or working remotely — during the pandemic shutdown led them to rethink their current work situation. The U.S. Department of Labor reported that during April, May and June 2021, 11.5 million workers gave notice. The February 2021 Microsoft Workplace Confidence Index survey of more than 30,000 workers showed that 41 % of American workers are considering quitting; that number increases to 54 % when looking solely at Gen-Z employees. If that’s not enough, a new Gallup survey found that 48 % of workers are actively job-hunting.

Upwork, the online marketplace for Freelance assignments, released a report in August 2021, “The Great Resignation: From Full-time to Freelance,” yet another examination of why American professionals are leaving, or seriously thinking of leaving, their current full-time employment. As many businesses anticipate a return of their employees to the office, sometimes on a limited basis, the survey of 4,000 workers showed that some professional-level employees are not willing to surrender their WFH work-life balance. Approximately 9 million pandemic WFH employees, 17% of professionals, apparently would consider looking for another job if forced to return to the office on a full-time, or even part-time, basis.

Needless to say the “Great Resignation,” as the phenomenon was named by Anthony Klotz, Associate Professor of Management at Texas A & M University, has the potential to create significant disruption for many organizations if it should come to pass in the way that several studies indicate. Already, workforce development experts are advising in particular mid-size organizations, who cannot compete for talent in the way that big businesses are able to do, to find an opportunity in the instability and tap the power of the growing on-demand workforce—Freelance consultants, that is.

Rather than scrambling to hire employees on short notice, company leaders would be better served by supplementing their teams with talented Freelancers—you and me, my friend—who own the skills needed to successfully tackle any project, from designing eye-catching websites, to managing a multi-platform social media campaign, to conducting comprehensive research projects. Instead of paying both high salaries and benefits for full-time employees, mid-size organizations can access top-drawer Freelance talent on a per project basis and keep overhead down as they achieve objectives.

No doubt many company leaders will first attempt to squeeze more work out of current employees, but that all-too-common default behavior probably won’t fly anymore. In fact, that habit could partly explain why valuable team members quit. The bosses will be nervous and may not know where to turn. Still, deciding to outsource and bring in Freelance talent may quickly be seen as inevitable.

So how might Freelancers cash in on the “Great Resignation?” Carpe diem—-you know how to do that! Start by putting yourself in the shoes of an employer who has a mission-critical project, a deadline and a team that’s down two key players. Below are sources that would be familiar to employers looking for Freelance talent so that an important job will get done. You’ll also find a credibility building resource that when you commit to using it will showcase you as a very attractive candidate to hire.

  • LinkedIn Populate as many categories of your profile as possible and be certain to include examples of your best work. If you haven’t participated in ProFinder, the service where employers solicit Freelancers for projects, create a profile and be prepared to quickly respond to employer requests. Only five Freelancers may bid on a project.
  • Upwork and Fiverr These gig worker marketplaces seem to be more welcoming to web designers and IT programmers, but I was hired for a writing project on Upwork three years ago. To get hired, you must search for and pursue assignments and at Upwork, you’ll wind up paying a small fee to bid on a job.
  • Help a Reporter Out. Prospective employers will surely type your company name into a search engine to see what comes up. In addition to great content that you’ve written and your social media sites, include as well your insightful quotes that have appeared in relevant publications. Quotes are an excellent way to demonstrate your know-how and convince prospects that you’re a good hire. https://www.helpareporter.com/sources/

Thanks for reading,

Kim

Image: An office in Palo Alto, CA circa 2000

Uncategorized , , , Leave a comment

3 Easy Hacks to Grow Organic Searches

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In the lazy waning days of summer, ambitious Freelancers (and we are all ambitious) can implement a few quick hacks to ramp up leadgen and bring fresh possibilities to our sales pipelines. Now is the time to energize your marketing tactics and push to bring in potential clients who have both motive and money to do business. Setting up for a healthy fourth quarter is everyone’s goal, whether your target clients will return to the office soon or delay until January. Freelance consultants would be wise to encourage local organic traffic to their website, that is, site visits that are not prompted by pay-per-click campaigns by way of Google adwords or some other paid advertising service and are made by bricks and mortar businesses in your geographic location. Enhancing your company’s presence in local organic searches is a potentially game-changing inbound marketing strategy for any company and it’s within your reach.

Let’s pause here for a minute and discuss what is known as referral traffic—- it has significant impact. When a visitor clicks a link to move from one website to another, the original site is considered the referrer. The referring site can be a search engine, a social media platform, a blog, or any website that contains links to other websites. So—-the more you post in digital publications, social media sites and whatever online forums, the more your company name and URL will appear in direct searches. A potential client who has your company on a short list for follow-up will probably visit a big search engine and type in your company name to see what comes up. You’ll want to have several impressive postings available.Organic local site traffic is sent from search engines, most often Bing, Google and Yahoo, and is influenced by Search Engine Optimization.

The better your website ranks for descriptive keywords common in your product or service category, the more readily will your business appear in local organic searches. Big businesses have the advantage, but small and mid-size companies should nevertheless strive to be found. Your digital presence, bolstered by relevant keywords, including long-tail keyword phrases that impact the increasingly important voice searches, will eventually produce an increase in your website’s local organic search traffic and improve your positioning in search results. Here are three free actions that you can take now.

I. Frequent posts

Blogging, writing articles that appear in digital publications and getting quoted in online media outlets will enhance both your credibility and visibility. Frequency is a big plus. If you can keep up and publish a blog or other article or get quoted about once a month, in a few weeks or months your company may show in organic searches, even if not in the coveted top 10 (first page). In 2018, we learned that powerhouse Google follows the E.A.T. algorithm—-Expertise, Authoritativeness, Trustworthiness. In other words, quality content counts.

Your use of key words and long-tail phrases should not be heavy-handed. Sprinkle them into your content where they fit, so when prospects type those words into a search box, or speak them into Alexa or Siri, you’ll increase the chance that your business name will appear in local searches, at least in the top 20 names for your locale.

II. Social media presence

Being active on social media is one of the best ways to communicate and engage with current and potential clients, as you become familiar with their priorities and also drive traffic back to your website. The website hosting service Go Daddy found that 61 % of its high-traffic sites had an attached Facebook page.

While having a Facebook page and Twitter account is more or less considered a requirement for most businesses, establish your company presence on platforms that your clients and prospects follow and trust. B2B likes LinkedIn and Alignable is growing, as is Clubhouse.

III. Search engine sign-up

Register your company on Google My Business and Bing’s Places for Business, free services that will give your organization a boost in local SEO. For best results, provide lots of descriptive info about your business, including optional categories.

Treat your Bing and Google listings like social media platforms. Update them at least quarterly by adding educational info, text. or video and discuss some aspect of a company product or service is a reliable and efficient solution for goals that users want to achieve (but not a sales pitch). If it will be politically correct, ask a couple of clients to write a (positive!) review. Rumor has it that both search engines ignore reviews and other content that is more than six months old.

Thanks reading and Happy Labor Day,

Kim

Image: Traffic gets heavy in a Venice canal, August 2013

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KPI Spotlight

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Good data supports good decision-making and good decisions lead to success in your endeavors. Trusting your gut and following intuition have their place but when evaluating the efficacy of business strategy, as you work to drive results in the near and long term, it’s imperative that you listen to the story the data tells. Why waste time and money on guess work?

The biggest question is, which metrics should you follow? Dozens of data points can be generated and examined, but which metrics will adequately address your questions and guide you? The ability to select KPI (Key Performance Indicator) metrics that reveal your company’s performance against objectives you’ve determined are relevant is the most critical factor of analysis. Tracking only the most important KPIs is meant to narrow your focus to those metrics that impact the objectives you want to achieve.

Your company business model and the industry in which you operate will largely determine the KPIs that make sense for you to monitor. As usual, you’ll need to give the matter some thought. Ask yourself—what company goals should you pursue? Have you identified major areas in need of improvement? What are the top priorities? Answering those questions will bring you a step closer to identifying the right KPIs for your organization. Choose metrics that help you further understand and achieve company goals.

Below are a sampling of KPIs that give potentially useful insights into any business. Maybe you’ll find two or three that you’d like to include in your monthly review of business operations?

Overall company performance KPI metrics

Gross revenue (top line)

  • Total income generated from the sale of company goods and services. This value matters because it tells the unvarnished truth of what the company is selling. Gross revenue reporting excludes the cost of goods sold and includes only the money earned from sales. On the Income (Profit and Loss) Statement it is the first entry, the top line.

Net income (Bottom line)

  • Net income indicates a company’s profit after all of its expenses have been deducted from revenues. Net income is the uber metric for profitability and provides insight into how well all aspects of the business. Net income is often referred to as the “bottom line” due to its positioning at the bottom of the income statement.

Number of clients

  • The number of active (within the last three years) clients on your roster.

Lead conversion rate

  • This helpful metric points to the power of your leadgen marketing strategy and tactics, including your website landing page. For example, if your Call-to-Action invites visitors to register for a webinar or complete an online survey, learning the percentage of visitors who respond to the CTA, that is, those who were converted from a mere website browser to an actual lead by taking an action that signals engagement, is highly instructive.

Financial KPI metrics

Gross revenue

  • The sum total of the sales of all products and services, within a given period (day, week, month, quarter, year)

Net Income

  • After all fixed (operating) and variable (selling) expenses have been deducted, inventory has been added (if applicable) and interest, taxes, depreciation and amortization have been calculated and deducted, the net profit (income) or loss is revealed in the bottom line of the Income Statement.

Cash-flow

  • Operating cash-flow is the amount of cash generated by a company’s normal business operations and it indicates whether a company can generate sufficient positive money to stay in business. If making upgrades of some sort, scale or grow are a goal, operating cash-flow reveals whether borrowed financing will be needed. This figure confirms whether or not accounts receivable are paid to service providers.

Cost of Goods Sold

  • The sum total of all costs used to create a product or service that your company sells. This number is often a challenge for service providers to calculate. We sometimes forget that our time has a price tag attached. How many hours were devoted to revamping a client’s social media campaign? How many hours did you spend creating Power Point slides for a workshop that you’ll teach? This figure should be accurately reflected in the prices you charge. Along with being aware of the time spent on providing a service, there is also the matter of the wholesale value of your hourly rate. Basically, it is wise to consider the value your client will derive from the work you do, in addition to the hourly rate for your labor.

Client KPI

Client churn rate

  • The opposite of retaining clients is losing them through the process known as churn. It’s a disturbing metric but one that every business owner must confront and diminish. For many B2B service providers, as well as other business owners, a client will do business with an organization only once and it is not a negative judgment against the business. Some projects are one-off by nature. Still, it’s important to understand why certain clients are not returning. What can you do better? Along with your final project invoice, a brief client survey could yield valuable and actionable follow-up information.

Number of clients

  • How many active (within the past three years) names are on your list? Also, how many give you repeat business and how well known are they?

Client acquisition cost

  •  Assess the cost effectiveness of your marketing campaigns when you calculate the total sales and marketing cost needed to land a new client. Divide your marketing and other client courting activities contained in total acquisition costs by the number of new customers, in the time frame you’re examining.

Client retention rate

  •  The number, or percentage, of clients who return to do business with you. This is an indication of client satisfaction and a great compliment to you and your team.

Marketing KPI

Website traffic

  • Measuring the number of people who visit your website is one of the more basic KPI metrics, but it’s still important. Your website is home base home to everything that’s needed to inform, convert and close a sale with your buyer. If your marketing campaign isn’t getting people to visit your website, then you must rev up your marketing strategy and execution. Hubspot, Google Analytics and a few other can report the total traffic numbers, tell you how many new visitors are browsing and also show you where those visitors are coming from. If you operate marketing campaigns on different social media platforms, you can learn which ones send the most traffic to your website and which ones are failing to stir up any interest.

Marketing ROI

  • Return on Investment metric reveals if the money spent on marketing activities is generating the desired sales revenue. Keeping track of your marketing ROI will make it easier for you to justify marketing budgets, calculate marketing efficiency and ultimately help you plan future marketing strategies. 

Referral traffic

  • Discover where website visitors are coming from, how potential prospects find your company. Learn which social media platforms bring in the most and the highest-quality leads. Does voice search show potential and should you invest time in long-tail phrases to grow this segment? Does your newsletter bring leads? This could be useful information when building your overall marketing strategy.

Thanks for reading,

Kim

Image: © Nick Bassett (2014)