7 Policies and Documents Your Business Needs

Today, business runs on a sea of paperwork. You need to provide the right policies and documents to ensure that everyone involved knows the expectations associated with the business. The right policies and documents also protect your business.

You don't want to be caught short when it comes to the documents and policies required for running your business right. Here are seven policies and documents your business needs - and the tools that can help you create them quickly and inexpensively:

1. Contracts

It's a good idea to create a contract when you enter agreement with someone else. In some cases, a simple email laying out the terms of your agreement is enough. This has worked well for me in the past, but I'm making the move toward using more formal freelance contracts. Many of my clients have their own agreements, and I am happy to sign those (after reading them carefully), but I also want my own version.

Whether you enter a partnership, work with tenants, provide consulting or freelancing services, or have any other business arrangement, a contract is a good idea. You can find contract templates online for a number of sites like RocketLawyer and LegalZoom. I also like the instructions for creating your own freelance template on WikiHow.

2. Refund Policy

When you offer a product or service, you often need a refund policy. Creating a refund policy that is fair and that people trust is an important part of running a successful business. You can use a refund policy generator from a site like GoSpaces to help you put together something professional and that provides peace of mind to your customers.

3. Privacy Policy

Do you have a privacy policy? A privacy policy is important if you plan to collect information from website visitors and from customers in other ways. You can look at other sites' privacy policies to help you figure out the best way to go about creating this policy. Understanding best practices is essential for your privacy policy. You can also get help creating your privacy policy with a sample privacy policy from the Better Business Bureau.

4. Non-Disclosure Agreement

The non-disclosure agreement (NDA) is one of the documents your business needs if you plan to work with others who might get access to proprietary data and products that you want to keep for an edge. I've signed a lot of NDAs in my time, and it's vital if you want to reduce the chances that someone else will take your secret sauce and sell it to the highest bidder. NOLO offers a solid basic NDA template you can use in your business.

5. Business Plan

Make sure that you know where you're headed with this document. The right business plan not only gives you direction, but it's one of the documents your business needs if you want to convince someone to fund your business. Your business plan is an important document, and you should understand what to include your business plan and how to construct it if you want to present a professional and viable front.

7. Various HR-Related Policies

Do you have the HR-related policies you need to outline what is expected of employees? These types of policies include:

• Sexual harrassment policy


• Social media policy


• Media relations policy


• Anti-discrimination policy


• Compensation and benefits policies (including leave)


• Disciplinary policy

The SBA offers useful information on creating these policies (and other policies) as part of an employee handbook. Some of these policies are required by law, and it makes sense to take a look at what is required in your state and by the federal government.

7. Non-Compete Document

As a freelancer, a non-compete is something that I've signed only on the rarest of occasions. However, there might be some situations that warrant this document. Carefully think of what someone competing against you, or stealing your workers, could mean for your business. You might require a non-compete for three, five, or seven years (or some other term). The Society for Human Resource Management provides a useful and helpful non-compete template.

There might be other policies and documents your business needs, so consider your situation, and do your best to create the right paperwork for your protection.

The post 7 Policies and Documents Your Business Needs appeared first on AllBusiness.com

The post 7 Policies and Documents Your Business Needs appeared first on AllBusiness.com.

Stop Neglecting Analytics in Your Customer Engagement Strategy

Customers desire experiences, not transactions.

In a world full of distractions, engaging customers beyond the typical purchasing routine is vital for SaaS success.

And B2B consumers crave unparalleled engagement. They want personalized advice, solution-oriented features, and revenue-generating products.

An IBM annual survey noted that “as many as 65% believe customer engagement will be the primary driver of growth going forward.”

Analytics is one of the few ways to gain insights to meet your customers' needs. It helps bridge the gap between providing a service to solving real challenges.

Enhance the experience between your brand and consumers. Build data into your customer engagement strategy.

It Starts With Value

Studies show that “86% of buyers will pay more for a better customer experience, but only 1% of customers feel that vendors consistently meet their expectations.” That's a major disconnect for SaaS companies striving to improve customer engagement.

B2B customers aren't concerned about aesthetic features. And they aren't amped to hear how your team worked around the clock to fix a bug.

Your consumers want a service dedicated to solving their problems in an efficient manner.

Natalie Chan, an expert handling customer retention at Outbrain Amplify, writes:

“Businesses that focus on customers engagement are focused on value creation, not revenue extraction. These are businesses that know how to engage their customers by providing them with real value whether it be through an exceptional end-to-end customer experience, great content or strong customer support that are about delivering more than the traditional sell.”

Offering value means addressing your customers' desires. And it's all about how they perceive what's important.

For example, if a prospect is concerned about increasing open rates in email campaigns, it's not in their best interest to discuss layout designs.

Image Source

Value requires laser-focus. And that's where analytics steps in.

Monitor usage data to assess the customer experience. Track acquisition channels to observe where customers are coming from and if they're converting.

Interview customers and ask them why they chose your product. Figure out how they expect to use your product and what business goals they want to achieve.

Create and deliver unprecedented value. Connect with the customer.

Know Your Buyer

In order for customer engagement to work effectively, your team must know your buyer. And that goes beyond the usual demographics, like annual revenue, company size, and location.

More importantly, for B2B companies, your team must not only focus on the business itself, but also on the employee of the business. Learning about the decision maker is crucial to your sales.

“Leveraging big data to better understand and act upon customer behavior, forces you to think differently not only about what data to keep (all of it!) and how long to keep it, but also which data you should begin capturing,” states Duane Edwards, Co-founder and Senior Vice President of Globys.

Analyze your primary behavioral data to create in-depth customer personas. Understand the decision maker's goals and challenges. Also, know how you can provide short-term and long-term guidance.

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Bruce Swann, Sales and Marketing professional at Adobe, suggests applying predictive analytics:

“Once you've compiled data attributes to create a panoramic view of customers, you can begin to understand and predict customer behavior, which adds depth to that view. Examples include using a range of analyses, including customer value analysis, market basket analysis, customer profitability, response modeling, and churn analysis.”

Use data as an indicator of future behavior. If you know your client's customers, it may lead to helping your client differently.

For example, NoWait is an app that simplifies the process of waiting for a table at a restaurant. Instead of having a guest tote around a clunky pager with a range of 50 feet, restaurants only need the person's cell phone number.

When the table is ready, the guest receives a text. Plus, after dining, restaurants can text customers additional discount offerings.

Moreover, with the app, restaurants learn “who their patrons are, what time they come and go, which patrons come back the most frequently, who purchases more.” This data can be used to create messaging that appeals specifically to each customer.

Know your buyer and your buyer's customers.

Content That Resonates

Content is more than just blog posts. It includes everything from checklists to webinars.

Research shows that “64% of visitors who watch a video are more likely to buy a product online.” Therefore, content isn't just helpful for your brand awareness; it's a vital part of your customer engagement strategy, which leads to sales.

Examine heat map data to improve your content. It will help you learn what content is important to the consumer. Then, your team can focus on content placement and how different images and colors in your content affect your website visitors.

Pete Mehr, Principal at ZS Associates, says, “By quantifying which content the customer engages, and how frequently, it becomes straightforward to continue to provide content back to the customer. This continuing content consists of an ongoing series of messages to a customer.”

Moreover, analytics will uncover which type of content matters to your customer. Is it eBooks? Or maybe 30-second video clips?

Mention understands their audience. They produce content that resonates.

The social monitoring company creates webinars highlighting experts in the field. For instance, Mention invited Sujan Patel (who is hosting a webinar with Kissmetrics next week) to talk about ways to create content for “boring” industries.

Study your data to find content that speaks to your customer. It's an effective way to boost engagement.

Multi-Channel Customer Service

In America, “the cost of poor customer service is $41 billion per year.” That's a heavy burden for most companies.

Moreover, a report found that “retailers are not listening and responding to their audience enough. Some 89% of consumers' comments are left unanswered.”

Approach customer service differently. Think beyond phone support and Q&A forums.

Social media has presented another solution. Now, SaaS businesses can provide Twitter and Facebook support.

Under Armour created a Twitter handle solely for the purpose of answering customers questions about their products.

From your analytics reports, determine what channels of support satisfies your customers. What works for your competitor may not work for your SaaS.

“It's not about deploying on all channels, but deploying the right channels that align with your business. Only deploy on the channels that make sense for your business,” says Kate Leggett, a principal analyst at Forrester Research.

In addition, you must streamline your processes when using multiple channels. For instance, phone support data for a specific customer must also be available to your Twitter service reps.

At ComputerWeekly.com, Lisa Kelly suggests that “organisations need an accurate knowledge base where companies can link information from other channels, including peer-to-peer interactions, web self-service and communities, to share with customer service agents.”

It's not enough to offer various customer service routes. Your team must work together to use data to enhance the overall customer experience on each channel.

Respect The Data

Customer engagement isn't anything new. However, your SaaS can approach it differently with the help of analytics.

Add unmatched value to the customer's experience. Use data to gain insight on your buyer's habits and preferences. And provide customer service from a multi-channel perspective.

Stop neglecting, and start respecting your data.

About the Author: Shayla Price lives at the intersection of digital marketing, technology and social responsibility. Connect with her on Twitter @shaylaprice.

These Two Underutilized Sites Should Be Part of Every Startup's Social Media Marketing Strategy

Let me ask two questions:

1. Guess which social media site drives the highest traffic to websites? (If you guessed Facebook, you would be right.)


2. Do you have any idea which social sites come second, third, or fourth?

There is a reason I am asking these questions. Some social sites are underutilized or undervalued.

Now just because Facebook has the potential to drive the most traffic, it does not mean everyone can get a slice of that awesome social media pie. If you don't have a great fan following or if you don't have a track record of producing great social content, you are going to find it hard, especially if you are a startup with fewer resources and a small budget.

Statistics courtesy of Shareaholic

Content Overload in Social Media

Most people know Twitter and Facebook are the most popular social networks, but what they might not realize is they are very competitive. You have to compete for people's attention, and even if you get the attention, you might not get the clicks you are after due to the thousands of updates and tweets per minute. Facebook updates and tweet effects don't last long, they last a few hours and a day or two if you are lucky.

So what can a startup do? Include underutilized social networks such as Pinterest and StumbleUpon as part of a social media marketing strategy. (We are not saying to abandon Facebook and Twitter–we are merely making a case to include Pinterest and StumbleUpon.)

According to social media traffic numbers, Pinterest comes in at number 2 and StumbleUpon at number 4, so the potential for viral traffic is there. You just need to know how to harness it.

Rule number one for using Pinterest–and also true for StumbleUpon–is to include visual content. Some quick tips include:

• Create visually compelling content.


• Include clever headings.


• Insert an image above the fold.


• Break content into small chunks with subheads, bullets, and images.

Remember, stumbles and pins can bring in traffic all year long unlike their big rivals Facebook and Twitter.

Why Use Pinterest?

• Forty-seven percent of U.S. online consumers have made a buying decision based on Pinterest.


• Pinterest generates 27 percent more revenue than Facebook and 4 times more revenue per click than Twitter.

Statistics courtesy of Quicksprout.com

Why Use StumbleUpon?

• Fourth highest social media traffic driver.


• Has great potential to bring in viral traffic; comparatively easier to get 5,000 visitors to your site.


• Better than Reddit, Google+, and LinkedIn, in terms of traffic driving potential

Statistics courtesy of YourEscapeFrom9to5.com

Your Social Media Marketing Plan: Final Thoughts

Each social site has its own pros and cons, and depending on just one or two sites is like buying a lottery ticket and hoping you win the jackpot. There is so much more that goes into choosing a social media site like buyer personas and which platforms are used by your target group.

If you are looking for traffic, Pinterest and StumbleUpon can definitely help. Employing visual and multimedia content can certainly tilt the social media scale in your favor. Also, always remember to use an image with any social update, whether in Twitter or Facebook, so your updates don't look the millions of others that are without images.

The post These Two Underutilized Sites Should Be Part of Every Startup's Social Media Marketing Strategy appeared first on AllBusiness.com

The post These Two Underutilized Sites Should Be Part of Every Startup's Social Media Marketing Strategy appeared first on AllBusiness.com.

Why Your Sales and Marketing Stack Needs a Solid Foundation

Imagine the best pancakes you've ever had. What made them work? They likely started with a solid recipe of core ingredients, then added just the right blend of proprietary variations to make an unforgettable short stack. But it all started from a solid foundation – flour, eggs, whole milk, baking powder, salt, cooking fat, and sugar.

Your marketing and sales stack is no different. The foundation will make it or break it. Luckily, the ingredient list isn't nearly as long as the pancake mix.

What are the core ingredients that make up a solid sales and marketing foundation? It starts with a strategy focused on the customer and your content, and the right tool to whip it all together.

Constructing the Stack

The right recipe will help ensure you deliver the right message to the right person at the right point. An effective sales and marketing strategy starts with the customer and content at its core, and is further refined by understanding the journey that customer makes. Glossing over this part often results in half-baked strategies that fall flat.

It's critical to understand what the buyer's journey looks like – the stages of awareness, consideration and decision, and the transitions in between. Each phase or stage will be specific to your buyer, which means getting to know your buyer is imperative.

Enter: The buyer persona. These are detailed accounts of your target customer. They go well beyond basic demographics like age, gender, and occupation. A good buyer persona will detail what their motives and priorities are, how they determine success, what their perceived or actual barriers are, where they search for solutions, and who impacts their decisions.

While surveys and reviewing analytics from online behaviors can provide some level of insights, one-to-one interviews are the best way to gather in depth details. You can conduct phone interviews or in-person visits with existing customers, or use industry events and trade shows as opportunities to talk to prospects, current customers and even the customers of your competitors. You're looking for answers to questions such as:

• What priorities/problems prompted them to search for a solution?


• Why did they choose your brand over another? Or why didn't they?


• How do they determine success and what are their goals?


• What barriers (perceived or actual) might stand in the way of their decision?


• Where do they look for solutions?


• Who influences their decisions?

In depth buyer insights are the bedrock of customer success-focused content.

With this level of detail, you are better equipped to understand and interpret their actions, and the questions they might ask within each stage on their path to purchase. At this point, the recipe will start to come together as you determine how to align your sales and marketing strategies to harmonize with the buyer's journey and be there with the relevant content they need to answer their questions or solve their problems.

Understanding the framework – the customer, their journey and the desired outcome of the content you produce – you will be able to identify what parts of the recipe can be changed as goals change or you learn more about buyer preferences. These three ingredients – the customer, their journey, and the content – will be staples, but how that content is delivered or the type being created can be substituted.

In-depth buyer personas and a map of the customer journey is almost like cheating the system. Marketing and sales teams armed with these are better equipped to make a calculated, winning recipe – serving up the right stack (authentic content), at just the right time and in the right place.

Serving Up the Stack

Now that you've got a solid foundational recipe in place, there's one final element – a solid platform to serve it from. Today, there's a near endless supply of sales and marketing tools to support with everything from automation to customer relationship management and sales enablement, but even the best stack of tools can become unstable without the right foundational platform.

Just some of the tools that can be added to the marketing and sales tech stack. Without the right foundation, this stack can quickly become unstable.

How do you identify the right platform from which to build the recipe? First and foremost, it should support you in building a solid foundation. In other words, it should enable visibility into your customers, the purchase journey they go through, and the delivery of your content at the right place and time. Internal portals, analytics and collaboration amongst the various players on your team is also essential.

(Image Source) How much do you know about your customer? What they're reading, where they're reading it, what social channels they use, and what they do?

Try to avoid a cobbled together “Frankenstack” of sales and marketing tools. This creates silos within your team and makes for an unstable strategy that lacks cohesion. Instead look for a primary platform to serve as the hub. It should play nice with a variety of tools – everything should work in concert. Before you commit to a platform, consider the following:

• What is our desired outcome?


• Will this platform support our goals?


• Does this platform integrate with the apps we need for our team to work seamlessly?


• Does this platform help us fulfill the goals of our customer, and ultimately ensure they continue to move through the funnel?

If you are working with an indirect sales channel, that platform should also support them with the training, marketing and sales tools they need to do their job and nurture their customers.

Conclusion

Before you start throwing together sales and marketing recipes, be sure to understand the role of each of those core ingredients and how they can be used to direct all recipes that follow. This will enable you to create far more effective strategies rather than hoping something will work.

The customer and customer journey, and content that originates from those two ingredients, produces a winning recipe and helps ensure your efforts won't be lost in a sea of marketing messages.

About the Author: Jen Spencer is the Director of Sales and Marketing for Allbound, an innovative SaaS platform that helps companies empower their resellers and distributors to be more customer-focused through content and collaboration. Jen loves animals, technology, the arts, and really good Scotch. You can follow her on Twitter @jenspencer.

10 Must-Know Facebook Ads Tips & Features

It's no secret that paid social is drastically on the rise. Social advertising spend jumped 50% year-over-year in the last quarter of 2015. Social media ad revenue is expected to reach $35.90 billion by 2017, reaching a staggering 16% of the total global digital ad market.

Facebook (including Instagram) unsurprisingly comprises a big piece of this pie, making up an estimated 65.5% of all 2015 social ad spend. This is driven by changes in their CPC model, launch of Instagram ads & the addition of powerful new features.

This post will arm you with 10 important tips & features to ensure you're getting the most out of this channel.

1. Facebook Lead Ads

One of the most recent campaign types added by Facebook are Lead Ads. This campaign type allows advertisers to collect lead data without a landing page and directly through a form without leaving Facebook.

Some early advertisers found Lead Ads to result in a 4x reduction to their CPL (according to Facebook).

Example experience on mobile

To get started with Lead Ads, simply:

1. Create a new campaign with the “Lead Generation” objective

2. Build out your campaign/advert set, as you would for any campaign

3. Create your lead form at the advert level

4. Choose the questions you'd like added and optionally add up to three custom questions

5. Link to your privacy policy, add your disclaimer and destination URL

6. Customize your form

7. Preview then create your form

Now you're ready to get started with Facebook's newest and most powerful lead generation tool.

Tip: Twitter has had this campaign type for years, they call it Twitter Lead Cards.

2. Reporting, Reporting, Reporting

Some of the biggest wins are always found within the reporting section. One of the most important parts of reporting is the 'Breakdown' section.

• Are your mobile placements converting?


• What age group has the strongest CPA?


• What regions aren't converting?


• What gender is responding to your adverts?

These are all important questions that can be answered under the 'Breakdown' drop-down.

In this example, the Instagram placement converted a near 500% better than mobile news feed placement, at a fraction of the CPA. Knowing this, we'd shift more spend to Instagram and remove budget from the mobile news feed placement to maximize performance at our budget (if there's volume available).

3. Attribution models

It's important to understand Facebook's attribution models, where to change the view and what makes sense for your conversion goal. These are the 'rules' for how each conversion is counted, in regards to the timeframe after an interaction with your advert and the method of the interaction (click or view).

This is important to take note of so you have a clear understanding of the value of your conversions and how they compare to the other networks you may be running.

Within 'Manage adverts', the option to change the attribution model can be found under 'Columns' > 'Customize Columns…' > 'Change Attribution Window'.

4. Test Instagram

Since September 2015, Instagram placements have been made public in 30+ countries within the Facebook Ads Dashboard. Getting started with this is as simple as connecting an Instagram account and choosing the Instagram placement.

Break out some test budget and see how this placement compares.

Tip: Here are some helpful best practices when running Instagram Ads

5. Lookalike audiences

I've found lookalike audiences to be one of the most effective targeting methods on paid social.

A lookalike audience is a targeting criteria where Facebook generates an audience of user who are similar to your current customers or audience.

This audience can be based off an email list, segments of your Facebook Pixel or any conversion goals you have set up. Facebook matches these users with Facebook profiles then finds similarities in demographics, interests, behaviors, etc. Lastly, Facebook uses these finding to generate a list of similar Facebook users which you can target in your campaigns.

Learn how to create a lookalike audience here.

6. Keep an eye on Facebook's location options

An often overlooked targeting criteria is Facebook's more granular location targeting options. It's important to keep this in mind while creating your campaigns and use the targeting option that makes the most sense for your business.

Are you trying to target people living in a specific city, or all people within this city? These are two very different targets.

Take for example, a local service business operating only in downtown SF. You wouldn't want to be targeting people visiting for the weekend, or commuting in for work.

7. Speak to your audience

With Facebook's granular targeting methods, in most cases you know who you're speaking to (at least the interest, behaviours, etc. that define your audience).

Use this knowledge to tie copy and creative closely with each specific audience you're targeting.

Targeting a recent homebuyer? How about something like “Your new home would be complete with [Brand Name's] contemporary/ modern furniture line”.

8. Remarketing

All digital marketers know the importance of remarketing, so don't level this out of your Facebook Ads strategy be left out.

Make sure to take advantage of Facebook's audience segmentation options, where you can include/exclude specific pages & domains, as well as choose the remarketing window length.

Tip: Did you know Facebook now offers Dynamic Remarketing?

This feature allows advertisers to remarket specific products to users who've previously viewed or added them to their cart. The creative and copy of your ads will dynamically change based on what products your visitors have viewed.

9. Test multiple creative and copy

Always test many creative and copy variants to see which ones resonate best with your audience. Facebook will optimize ad serving based on performance and your conversion goal.

An interesting and relatively new creative type I recommend testing is the 'Carousel', which allows you to fit multiple images and links into a single creative.

This creative type has been found to reduce your CPA by about 30-50% & decrease your CPC by 20-30% (according to Facebook).

Use this creative type to:

• Showcase multiple products


• Highlight multiple features


• Create a larger canvas


• Outline benefits


• Tell your brand's story

Tip: Don't forget to run a statistical significance test to see if the improvement you're seeing is indeed valid and not just by chance.

10. Breakout campaigns by placement

The different placements offered by Facebook perform very differently. It's important to keep an eye on their performance and where your spend is being directed (details of how to do this are found in #2 above).

When optimizing for clicks, I find most of your budget will get pushed to mobile or audience network (since these have the most effective CPC), however these placements may typically not have the best overall performance.

In most cases, I find it makes sense to break out your campaigns by placement (or at least mobile vs. desktop). This is especially true if you're setting manual bids, or if your campaign is set to optimize for clicks.

Conclusion

I hope you find these Facebook Advertising tips & features useful. If you have any questions or additional tips/features that you think merit discussion, let us know if the comments section, or email me at jacob@cleverzebo.com.

About the Author: This guest post is written by Jacob Young, world-traveling digital nomad and Senior Manager, Ad Operations at Clever Zebo. Currently writing from the Co-Work office in Sayulita, Mexico. To learn how Clever Zebo can jumpstart your paid social efforts, shoot us a note at igor@cleverzebo.com or Tweet us at @CleverZebo.