Who you associate yourself and your brand with makes a huge impact on business. Original content source: https://www.entrepreneur.com/article/358480 via https://www.entrepreneur.com/topic/marketing The original post, The ASAP Formula: How Entrepreneurs Can Tap Into Free PR And Marketing, has been shared from https://imtrainingparadise.wordpress.com/2020/11/11/the-asap-formula-how-entrepreneurs-can-tap-into-free-pr-and-marketing/ via https://imtrainingparadise.wordpress.com
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Every client that I work with has his or her own unique problems, but they all have one thing in common. Can you guess what it is? Regardless of industry, size, or even the person’s position within the company, everyone uses email and wants to know how to write email that customers open. Despite the rise of social media, forums, and mobile chat apps, email remains one of the most popular forms of communication in the world. According to a study from Radicati, there are over 3.7 billion email users worldwide, and that number is steadily rising. If you think that statistic is high, you’ll want to sit down before I tell you the volume of emails being sent. We’re sending and receiving 269 billion emails every day. It seems impossible to stick out in this crowd. Yet email remains one of the most effective channels of marketing, with a median ROI that’s nearly 5x that of other channels like social media, direct mail, and paid search. Adobe even found that half of all consumers prefer being contacted by brands via email over social media and direct mail. Email newsletters specifically have the highest reported positive experience by consumers in a recent survey. Of course, knowing email is effective and writing an effective email doesn’t necessarily go hand-in-hand. If you send the wrong emails, you’ll end up losing customers. In fact, 66% of people unsubscribe from emails because they’re not aligned with their interests. You need great emails to keep your customers happy. That’s the problem I’m going to alleviate for you today. You know all the reasons why you should be using email, but we’re going to dive into the nitty-gritty details of how to actually write these emails. The first step is to segment our email lists so we can target our emails to the right audiences. How to Write Emails With Proper Audience SegmentationWe know email is effective, but we don’t have time to personally email each and every customer on our lists. Each email needs to feel personal, though. When your customers are properly segmented, it’s easier to send emails that feel more personalized. Messages will be based on your target customers’ interactions with your company and website. As a result, they won’t feel generic, sporadic, or irrelevant. A recent survey by Ascend2 found that 51% of marketers consider email list segmentation to be the most effective personalization tactic. Did a customer recently make a purchase from you? A thank-you email explaining the benefits of the purchase can help you keep your brand front-and-center in that customer’s mind. Perhaps a prospective customer abandoned his or her shopping cart before taking the next step and purchasing a product. Consider sending a discount code to entice that person back. MailChimp recently measured 11,000 segmented campaigns against non-segmented campaigns from the same customers. It found that the segmented campaigns outperformed their non-segmented counterparts across every metric. So what are some ways to segment your customer lists? Basic demographics like age, sex, and location are a great place to start. They’re not always enough, but they’ll help you get started. You’re likely going to speak differently to a retired veteran than you would to a teenager or recent college grad. Also, men and women may respond differently to the language you use in email marketing. Of course, this type of personal information may not be available. It’s also not the most effective way to segment audiences. Marketing automation platform MailChimp offers a variety of popular audience segmentation options based on engagement, behavior, and other criteria that you might find useful. These behavioral triggers are actually much more likely to predict a customer’s response anyway. Recommended purchases, for example, work regardless of age, sex, or location. Behaviors like buying, canceling, subscribing, and cart abandonment can be easily addressed with personalized emails. Ideally, you’ll send the right message to the right consumer at the right time. It sounds impossible, but modern marketing technology makes it not only accessible, but also automated. Behavior triggers stand out as one of the most effective innovation opportunities for markers. Marketers can analyze behavior triggers among their audiences to find strategies that really work. If you can set up an email marketing strategy that actually makes consumers eager to open your emails, you stand to enjoy much greater conversion rates. As mentioned above, behavior segmentation also makes it easier to automate emails. Marketing automation is an important part of the sales cycle, and you’re essentially leaving money on the table by not employing it. Don’t miss out on this opportunity! Charity: Water, for example, has a great email automation campaign that tracks the progress of your donation to the organization. When we donate money, we rarely get to see how the money is being spent. In fact, it’s one of the key barriers that nonprofits face when attempting to raise funds. Automated emails that provide useful data provide personalized transparency to the process. Consumers feel like they understand their role in the equation. Now we have our customer lists segmented into the right groups, and it’s time to craft the right emails for each group. To do that, we need to decide what our goal for each segment is and work backward from there. How to Write Email by Building Backward From the GoalIt’s important to have a goal for your email campaign. Otherwise, you’re just firing off emails and hoping to resonate with your audience. Not a good strategy. There are only four basic types of emails you can write:
Each type will have a different tone and goal. Let’s say your goal is to persuade customers to complete a post-purchase survey about their experience. There needs to be a clear CTA, preferably graphic, that entices users to click. That should be the focus of a short email that concisely explains the benefit of taking the survey. Here’s an example of a persuasive email from Wayfair. On the other hand, an expository email provides all the facts necessary for a customer to understand a topic. These are typically newsletters, but not always. In the case of this GrubHub email, the goal is an order confirmation displaying all the relevant information about your order. Descriptive emails are typically announcements for new products. They allow you to generate buzz (and hopefully a few sales). Here’s a descriptive menu from Cook Smarts. Plus, descriptive emails give you a chance to show your passion for your products. Here’s a descriptive menu from Cook Smarts. And finally, we have the narrative email, which allows you to tell your brand story. Here, Poncho turns an ordinary weather report into a narrative infographic. Right now we’re going to try an exercise. Think of all the different types of emails you may send to your customers based on their behaviors and other events. New product releases, leadership changes, sales and promotions, thank-you emails for customers’ order, emails that tell customers you’re sorry to see them go, responses to abandoned carts, and holiday celebrations immediately come to mind. The next step is to decide the goal for each of these behaviors. What do you want the customer to do? You typically want a click-through to your website. You can also use a CTA to ask for a purchase or to deliver relevant content. Creating these templates in advance keeps customers feeling personally connected to your business while you save time and resources. 5 Steps to Write the Perfect EmailNow you know why you should be emailing your customers. You’re also familiar with the different types of emails you might send. What we need to do is nail down a replicable process for writing them. Of course, you must start with a list of subscribers. Collect email addresses from your fans and followers so you’re communicating with as many people as possible. Once you have a list, you can write emails that respond to the behavioral triggers I talked about above. Here’s where to start. 1. How to Write Email Subject LinesYou only get one chance to make a first impression, and the subject line is that chance for emails. The subject line determines whether or not your email is ever read. A recent survey found that 33% of email recipients open an email based on the subject line alone. You have to nail that first impression if you want your copy to get read. The email marketing specialists at Constant Contact have seen thousands of effective emails. The company offers a few tips for subject lines (along with great examples of winning formulas). It’s important to keep the subject short and snappy. Many email programs cut off long subject lines, which means your subscribers won’t see the whole thing. Above, there’s an example with just a simple acronym from Bisque Imports. Everyone knows what TGIF means, so it works. However, you can also use other types of language to get your emails read. A teaser or announcement can provide a great way to entice people to click through and read. People love a mystery or an opportunity, so they’re more likely to check out the email’s body if the subject line arouses their interest. Check out this example from FluentCity announcing the winners of a recent contest. Whatever you do, avoid spammy language like “Buy Now.” You don’t need to be overly promotional. Focus on being informative and entertaining. In fact, entertaining and/or funny subject lines are a great way to increase the chances of an email being opened. Check out this gem of a subject line from The Basketry. Nice pun, right? Once you have the right subject, it’s time to move on to the content of the email body. 2. Keep Emails For Customers Short and Friendly.The worst mistake you can make with an email is trying to cram too much information into an email. The document ends up being too long. Sure, people need to know relevant information, but you can spread out the information over several emails. Alternatively, you can link to pages on your website so the reader can seek out more details if he or she wants. Whatever the case, don’t waste your subscribers’ time. That’s the fastest way to the “unsubscribe” button. A simple teaser with a link to your website is all that’s needed. Check out this simple example from Postmates, which invites customers to click through for a limited-time offer of lattes on demand. The company doesn’t waste any time getting to the point. There’s a brief, three-word greeting, and then the company immediately jumps into the point of the offer. After we get a description of the offer, we’re immediately given a CTA button to click through and take advantage of the offer. This short, sweet, and to-the-point approach is how every email should be treated. We only spend 15-20 seconds reading an email, so it shouldn’t resemble a novel. There’s a lot of information to fit in such a small space, though, so how do we decide what to cut and what to keep? Let’s explore that. 3. Write Better Emails by Adding Relevant Information and Calls to Action.Journalists are required to find out the who, what, when, where, why, and how of a story before publishing. That’s a standard we’re going to set for our emails. Each email we send needs to answer these vital questions. Say we have a weekend sale coming up. The sale is the what, our store location is the where, our business is the who, the holiday is when, special pricing is why, and showing up is how it’s done. Without this information, your recipients will be lost. It’s also vital to have a CTA or buy it now buttons. Otherwise, how can your customers take action? These buttons offer great ways to entice clicks, but before using these advanced techniques, make sure your customers can view them on mobile devices. Nearly half of emails are checked on mobile devices. It’s a shame to spend time crafting a brief, compelling email only to experience limited engagement because of mobile incompatibility. Don’t become that marketer. Now we need to make sure each customer feels individually connected to your business. 4. Personalize each email and use the second-person point of view.Nobody wants to feel like they’re just another faceless number. It’s important to greet each individual using personal language, which becomes an easy feat to accomplish with email template programs. You also need to write emails in the second person. Focusing on “you” opens a conversation in which the recipient feels important. Check out this email from The Skimm, which does a great job of using the second person in a personalized email This email makes it clear that the recipient is the center of attention. We all like to feel special, and this is how it’s done. Now that we have the email together, there’s just one last thing to do. 5. Proofread and check your grammar multiple times.There’s no worse feeling than spending hours designing the perfect email template, sending it out to your contact list, and finding a glaring typographical error. Typos are the worst, and with emails, they can constitute a sign of spam. It looks unprofessional and may even get your email blocked by spam filters. Take the time to perform at least two rounds of edits to check for these typos and to make sure everything is polished before you send an email out to your customers. Now that everything’s grammatically correct, we can finally send our email out and reap the benefits. ConclusionEmail is one of the most widely-used forms of communication in the modern world. More people use email than social media, chat programs, and forums. In other words, it’s the perfect chance to connect with your audience. But only if you follow best practices and get creative. Sending email newsletters and emails based on triggered actions can increase conversions, build trust, and lead to a healthy ROI. By creating targeted email templates based on behaviors may be the most important change you make to your digital marketing efforts. Have you found success using email? The post How to Write Emails That Actually Drive Results appeared first on Neil Patel. Original content source: https://neilpatel.com/blog/write-emails-that-drive-results/ via https://neilpatel.com The original post, How to Write Emails That Actually Drive Results, has been shared from https://imtrainingparadise.wordpress.com/2020/11/10/how-to-write-emails-that-actually-drive-results/ via https://imtrainingparadise.wordpress.com Getting verified on social media is one of the first steps to building a successful social media marketing strategy. Whether it’s your personal account, your business account, or both, getting that little checkmark next to the profile name is massively important. And not so that you look like one of the ‘cool kids.’ A verified social media account provides instant social proof and credibility when anyone looks up to you or your company online. Verification can also help with networking and push your company to your industry’s forefront as a trusted option. Getting verified on social media can be a challenge, and it might take some time, but it is definitely worth it. But maybe you’ve already tried to become verified, and you were rejected. Or perhaps you don’t know where to start. Unless you’ve got a huge following like Beyonce, becoming a verified account takes some commitment and trial and error. If you’ve tried to become verified before and you’ve been rejected, you’re probably not following the rules closely enough. For some sites, it’s a lot harder than others to show your worth. But don’t give up. I’m going to explain why your business isn’t verified on social media. We’ll then walk through how to become verified on Facebook, Twitter, Instagram, LinkedIn, YouTube, Pinterest, and Snapchat. Why Getting Verified on Social Media MattersTwitter was one of the first social media platforms to introduce verification, and it took a while for it to become as important as it is today. It began as a way for the platform to identify which Twitter accounts belonged to celebrities. Now, getting verified on social media tells users which accounts belong to brands, companies, and influencers. Basically, social media verification serves as an instant way to tell other users, “Hey, this account isn’t just your average Joe — pay attention to it!” This is especially useful for trying to target younger users, who are the prime social-media demographic. About 60% of Instagram users are between the ages of 18 and 29. Twitter is checked by 81% of Millennials every day. Having that badge of proof means that your account is worth following, paying attention to, and interacting with. It’s how you know it’s really me on Facebook: It immediately shows customers that any other accounts with that name are fake. Which isn’t as huge of a problem for me as it is for mega-brands like Walmart. Check out this fake Walmart YouTube account: Looks pretty legit at first glance, right? There’s an official Walmart logo as the profile picture, and the description even says, “Walmart Official YouTube Channel.” But upon further inspection, the account only has two video uploads and three subscribers. So this fake account was probably created to gain followers, create a scam, or even potentially destroy Walmart’s brand by impersonating the company. Based on the videos on this channel, it was probably created to use the Walmart name to gain subscribers or views: See how much trouble it is to find out if the account is real or not? Since it has no checkmark, we can guess it’s probably not the real deal. But not every brand or company is verified, including Walmart’s official YouTube page when I first wrote this article. (Today, they’ve jumped on the verification bandwagon.) So you can’t be sure until you evaluate things like the account’s number of followers and the kind of content on the page. If it had a checkmark, there would be no guessing or research. The benefits of verification are pretty easy to identify, and while the process can be easier said than done, it’s pretty painless overall. The processes for getting verified are unique to each social media platform. So let’s go through the big ones. Here’s how you can get verified on Facebook, Twitter, Instagram, LinkedIn, YouTube, Pinterest, and Snapchat. 1. How to Get Verified on FacebookFacebook’s blue verification checkmark identifies media organizations, global brands, or public figures (like Khloe Kardashian). The gray checkmark means that businesses (like Starbucks) or certain pages in specific locations are authentic. Facebook for InfluencersTo verify your personal account to become an influencer in your industry, begin by ensuring that your Facebook page is updated. Add a recent profile picture and make sure your profile information is all filled out. If you haven’t been posting regularly (on Facebook or any social media platform), you’ll need to wait until you’ve regularly posted for a consistent amount of time before trying to verify it. You’ll also need to make sure your account is authentic, unique, complete, and notable, according to Facebook: If you’ve completed these steps already, head to Facebook’s Request a Blue Verification Badge form. Select the kind of page you’re looking to verify and complete the form accordingly by providing an email address, official website link, and more: Be sure you have a digital copy of your ID since Facebook will use this upload to verify that it’s really you. Facebook will process the request within a few days, but it could take a few weeks, so be on the lookout for their reply. Facebook for BusinessesBusiness verification on Facebook confirms the account actually belongs to the business. To verify your business’s Facebook account, head to your Business Manager, then look for security settings. Note that not all businesses need to be verified — and you might not be eligible. For example, if you use Monthly Invoicing to pay for ads, you won’t have to submit any documentation. Once you find Security Settings, click on the Confirm Identity button. Submit a photo ID or upload the requested documentation. Enter your business details, then select your business from the list. Then, select a phone number you can access from the list provided or select Use Domain Verification button. You can also select to have the verification code delivered by text or email. Enter the verification code, and hit Submit. You should expect to hear back from Facebook about verifying a business page within a few days. You will get a notification on your personal Facebook page when it’s been approved. 2. Get Verified on TwitterAccording to Twitter, verification indicates an “account of public interest. Typically this includes accounts maintained by users in music, acting, fashion, government, politics, religion, journalism, media, sports, business, and other key interest areas.” So if your account doesn’t fit into any of these areas, trying to verify it is pointless. But if you do, Twitter gives some verification tips to increase your chances of getting verified. For example, you have to have:
Once you’ve met all these criteria, you can submit a formal verification request. (Note: Twitter sometimes puts their verification process on hold. If that happens, you’ll have to try back another time.) Be sure to fill out the form and include some backstory, in 500 characters or less, about why Twitter should verify your account. You’ll also have to provide some website links that back up your claims. You can expect to hear back from Twitter within about a week. 3. Get Verified on InstagramOut of all social media platforms, Instagram is probably the most selective when handing out verified badges. According to Instagram, “Accounts representing well-known figures and brands are verified because they have a high likelihood of being impersonated.” “We want to make sure that people in the Instagram community can easily find the authentic people and brands they want to follow.” So becoming verified was pretty easy for someone like Justin Bieber: If you’ve already got a huge following or you’re a mega brand, Instagram will probably go ahead and verify your page without you having to do anything: But if you’re not, focus on these two key tactics in the meantime:
If you take the time to make your account legitimate without having the official Instagram seal of approval, people will notice. And hopefully, after a while, Instagram will too. 4. Get Verified on LinkedInSince LinkedIn is like Facebook of the professional world, you might think that their verification process would be a lot like Facebook’s. But it’s not. The LinkedIn verification process works a little bit differently. LinkedIn hands out check marks on the LinkedIn Lookup app. These checkmarks prove that someone actually works for the company they’ve specified. And this checkmark is miraculously easy to get. All you have to do is request verification from LinkedIn and wait for a four-digit code to land in your business email address. Then, enter the code into LinkedIn Lookup, and ta-da! You’re verified. However, if someone doesn’t have a checkmark on LinkedIn, it doesn’t necessarily mean that their profile isn’t legit. It probably just means they haven’t completed the verification process yet. Another way to prove your credibility on LinkedIn is to get an invite to its Influencer program, like Bill Gates. Since LinkedIn doesn’t allow people to apply to the Influencer program, your chances of joining the club with Bill Gates aren’t super high. But, LinkedIn will be more likely to notice you if you start publishing your content on their platform. You can also get a gold LinkedIn logo by upgrading to a Premium Membership as I did.
5. Get Verified on YouTubeVerifying your YouTube account and verifying your YouTube channel have almost nothing to do with one another, but they’re usually thought of as the same thing. Here’s the difference between each kind of verification and why they’re both important. Step 1. Verifying Your YouTube AccountUsually, this can be done once you first make a YouTube account. YouTube will remind you at the top of your video manager page to give a cell phone number to tie to your account. Once you’ve done this, and you should, YouTube will send you a verification code that you can enter in to prove that your account is real. Completing this step is crazy important because you’ll get to enjoy these additional features:
Step 2. Verify Your YouTube ChannelThis is that the almighty little checkmark is placed next to a YouTube channel name. And tons of creators are trying to get it. To get it, you’ll need at least 100,000 subscribers and then apply for verification. They’ll look to see if your channel is authentic and complete and give you the badge. 6. Get a Verified Account on PinterestBeing verified on Pinterest means that users will know that it’s really your company pinning to boards on the platform. It will display a red checkmark and your URL at the top of your page, like this: To start, make sure that the Pinterest account is a business one and not a personal one. Then, confirm your website. Next, include a “Pin It” button on your site. From there, change your profile picture to your business logo. To start, select the “Settings” option: Scroll down to the bottom of the page where you added in your website URL. You’ll also want to connect your Instagram, Youtube, and Etsy accounts, if you have them. Then, click the Verify Website button to the right: Click that, and the following instructions will appear. Follow each step accordingly, and Pinterest will notify you in a few days if you’ve been approved. 7. Get Verified on SnapchatOn Snapchat, verified users get something a bit different than the typical check mark. They get an emoji of their choice. For example, Kim Kardashian owns the emoji: This is important because it’s virtually impossible to find a Snapchat user unless you know exactly what their account name is. But with the use of emojis, finding any “verified” account becomes easy. You don’t need to know their account name. You can enter their actual name. Which is perfect for celebrity accounts like Justin Bieber or Kylie Jenner, since their account names are “rickthesizzler” and “kylizzlemynizzl.” Snapchat has recently taken this a step further by providing a list of related accounts to follow when you scan a code with your phone’s camera: It looks like this will be the status quo for verification on Snapchat for awhile. If you have a substantial following on the app, reach out to Snapchat representatives and find out if your account is worthy of verification. You’ll have to provide some proof of your identity if you’re lucky enough to get them to agree to verify your account. If you aren’t a Snapchat VIP, it might not be worth taking these steps to verify your account. But, you never know if Snapchat will say yes or no, so it doesn’t hurt to just ask. You can contact Snapchat through their “Contact Us” web page. If they deny your request, you can always inquire about becoming verified at a later date once you’ve built an even larger following on their platform. The more followers and connections you have on the app, the better chances you’ll have of Snapchat verifying you on the social media app. 8. Get Verified on TikTokThere are two different types of social media verification on TikTok: the blue check, for brands and organizations, and the yellow check, for public figures and famous creators. Currently, you cannot apply to be verified by TikTok, but that option may be available soon. If you have any questions, the sites suggest sending an email to [email protected]. ConclusionGetting verified on social media isn’t a one-size-fits-all task. It actually isn’t even possible on all social media networks — Reddit, for example, does not verify any accounts. If you’ve tried to become verified on social media platforms and were rejected, try to follow the platform’s requirements more closely. Then, submit your request again once you’ve met all of the criteria. If you do it right, you can get those check-mark credentials that everyone desires to help you build brand awareness. Which social media platforms do you think are most important for verification? The post How to Get Verified on Social Media appeared first on Neil Patel. Original content source: https://neilpatel.com/blog/social-media-verified/ via https://neilpatel.com The original post, How to Get Verified on Social Media, has been shared from https://imtrainingparadise.wordpress.com/2020/11/10/how-to-get-verified-on-social-media/ via https://imtrainingparadise.wordpress.com Whether you have a brick-and-mortar business or are thinking of taking advantage of the big Good End or Cyber Monday sales, now is the best time to be online. Original content source: https://www.entrepreneur.com/article/359357 via https://www.entrepreneur.com/topic/marketing The original post, How Do People Find You? Take Your Business Where Your Customers Are, has been shared from https://imtrainingparadise.wordpress.com/2020/11/10/how-do-people-find-you-take-your-business-where-your-customers-are/ via https://imtrainingparadise.wordpress.com The problem with selling your startup is the long exit time. Sometimes it can take as long as seven years before you can sell your business and hop on the next idea. And the investors? They feel the same way. Who wants to wait almost a decade to buy a startup when the face of tech is evolving at such a rapid pace? Plus, the price tag on those more established businesses often run into the billions. That’s an expensive mistake if you make the wrong investment. The solution? Micro startup acquisitions. From Facebook to Microsoft, there is a massive trend to seek out tiny teams of five or less, buy them, and use the technology and talent to gain a competitive edge. In this guide, we’ll discuss the benefits of buying and selling a micro startup, the trends changing M&R strategy, and the top tools you can use to sell (or buy) your startup. But before we dive into that, we need to look into what micro startup acquisitions are and why you need to sit up and take notice. Micro Startup Acquisitions: What Are They, and Why Should I Care?Micro startup acquisitions are a move away from buying businesses with established products or even proven revenue streams. Instead, larger tech companies like Twitter and Pinterest are making investments in small startups. These businesses usually consist of 2 to 3 people, and companies are taking bets on their products that aren’t even fully realized yet. Why? Companies are becoming more proactive and want to acquire complementary products earlier on in their road maps as a way to outwit the competition and obtain the best talent in the industry. What does this mean for startups? Your exit strategy timeline is A LOT shorter. Gone are the days of waiting 5, 7, or 10 years to sell, making it more affordable than ever to bootstrap your startup. Hike Labs was founded in 2014, and by 2015, Pinterest had swooped in and acquired the San Francisco-based mobile publishing startup. Micro Startup Acquisition TrendsOver the last couple of years, there have been clear trends in why big companies are choosing to invest in these small teams and use them as part of their growth strategy. More deals are about gaining access to new capabilities or markets. While it’s a trend across sectors, it’s picking up steam in tech where companies are looking to deliver more complete solutions to consumers. These acquisitions, which focus more on scope than scale, accounted for 90% of tech deals in 2019, which is a 40% increase from 2015. It’s a clear indicator that businesses want to expand their offerings and capabilities. It’s Harder to Build the Right Product from ScratchNo one wants to be late to market. Yes, the tech giants could develop the software these micro startups are making, but by the time it’s ready for market, a competitor might have rolled a similar product out and taken all the glory. Or you could make the mistake of investing too much in the wrong idea, and there goes money, time, and resources down the toilet. It’s usually much cheaper to acquire a startup that has done the legwork than get an idea internally developed. By acquiring micro startups, companies can mitigate both risks and reap the rewards. For example, HR and finance SaaS vendor Workday bought Scout RFP (a San Francisco startup with a team of 8) for $540 million. The startup built a cloud-based office procurement system that helps customers streamline supplier management. The acquisition is a step in the right direction for Workday to compete as a holistic enterprise resource planning solution. The Micro Startup Talent Hunger GamesIt’s no secret that attracting top tier talent can take your business to the next level. These micro startup acquisitions aren’t only about products. Sometimes it’s the talent that attracts the bigger guys. Micro teams can amplify a company’s productivity while getting rid of the learning curve which comes with new hires. The innovation and ability to push a startup idea into production mean the team has skills and knowledge that is invaluable to an established company. For example, when Instagram bought Luma (its first acquisition), the tiny three-person team was part of the deal. The Luma team’s knowledge in video stabilization technology was critical in launching Instagram’s complementary app, Hyperlapse. The Attractive Price Point of Micro StartupsA massive advantage of purchasing micro startups is the price. It’s way cheaper to go small than fund a big, established company with hundreds of employees. And the risk of it going under? A much softer blow. If the investment goes the same way as Jay-Z’s Tidal music streaming app, it’s a much smaller amount to write off. Plus, you get to keep the team. For example: Microsoft spent $200 million to acquire Accompli and only $100 million for Sunrise. When you compare that to the $7.5 billion they spent on the acquisition of Github, or their purchase of Skype for $8.5 billion, that’s quite a bargain. The same goes for Google acquiring Android for a measly $50 million in 2005 with key employees joining the company. As of 2020, the net worth of Android is estimated to be over $2.5 billion. The Race for Artificial Intelligence With Micro StartupsAnother major trend in micro startup acquisitions is artificial intelligence. Companies in almost every sector are looking to take advantage of machine learning and integrate it into their products. When you combine this with the shortage of AI talent, there is a race to scoop up startups and their teams who are in the early stages of funding and research. In 2019, Facebook quickly snapped up a visual search startup called GrokStyle, who developed an app that can automatically detect decor and home furniture from a photo. When asked about the acquisition, Facebook responded in a statement that “their team and technology will contribute to our AI capabilities”. Tools for Acquiring or Selling Micro Startups and Other BusinessesWant to cash in on the micro acquisition boom? Whether you’re looking to sell or invest in a small business, there are various tools to help you swipe right and find your perfect match. Micro AcquireMicro Acquire is a marketplace that connects startups to buyers. The platform is free, private, and has no middlemen. When you sign up, you’ll get instant access to over 10,000 trusted buyers with total anonymity. The marketplace is designed to cut down on the time you need to sell your business and find startups to invest in. Once you’ve found a buyer or a seller, you’ll get a letter of intent (LOI) in 30 days or less. Who Is It For?Micro Aquire is for startups with an annual recurring revenue (ARR) of less than $500,000. It’s one of the best platforms for serial entrepreneurs to invest in small companies and grow them into booming successes. Key Features
What Does It Cost?
FlippaFlippa is a marketplace for buying and selling websites, apps, domains, and online businesses. While it helps to streamline the negotiation and transaction process, it does have a history of scam listings. If you decide to buy on Flippa, do your due diligence and put the listings under a microscope to make sure it’s legit to find those diamonds in the rough. Who Is It For?Flippa is an ideal marketplace for small to medium-sized businesses. You can find a range of sellers at any price. You can buy or sell online businesses and products like:
Key Features
What Does It Cost?Flippa’s listing fees depend on what you’re selling:
There is also a 10% success fee on each sale, and you can upgrade your listing with various packages starting at $295. Tiny CapitalTiny Capital is a different breed in the micro acquisition space. Unlike some of the other tools mentioned above, it’s a traditional venture capital firm, with a twist. Instead of buying companies and becoming a micromanaging nightmare, Tiny has a hands-off approach. Besides the required monthly and quarterly reports, founders rarely have contact with the firm, with some businesses only speaking to Tiny Capital founder, Andrew Wilkinson, once every six months. Who Is It For?Tiny Capital seeks to invest in profitable internet businesses within the information technology sectors. Think your business would be a good fit? You need to meet the following requirements:
It’s the perfect micro acquisition option for founders who want a quick sales turn around (most deals are complete within 30 days) and an investor who is going to be seen and not heard. Key Features
What Does It Cost?There are no upfront costs with Tiny. All you need to do is contact the team, and you’ll get a response within 48 hours. If Tiny likes your business, you’ll get an offer within 7 days. FE InternationalFE International is an acquisition advisory team for businesses earning five figures or more. With a 94.1% sales success rate, it’s one of the top tools for micro startup acquisitions. As a full-service M&A (mergers and acquisitions service), the platform has integrated solutions for all the major elements of a successful acquisition. From valuation to exit planning to post-sale considerations, it’s all handled under one roof. Who Is It For?FE International specializes in selling websites in the SaaS, content, and e-commerce industries. It’s an excellent choice for startups within the 5 to 8 figure range who want top-tier support throughout the sales process. Key Features
What Does It Cost?There are no listing fees for sellers or joining fees for investors. Brokers are paid a 15% commission fee on all sales, and there is a buyer transaction fee of 2.5% with a maximum threshold of $1,000. Empire FlippersSince opening its doors in 2013, Empire Flippers has sold over $93,000,000 worth of websites and online businesses with an impressive 88% selling success rate. Who Is It For?Empire Flippers is interested in websites within the following categories:
There is an intensive seller vetting process to ensure only quality listings make it onto the marketplace, and there is a dedicated team for each step of the process. To qualify for a listing on Empire Flippers, you must meet the following requirements:
Key Features
What Does It Cost?Empire Flippers has a $297 listing fee for first-time sellers. But if your listing is declined, it is 100% refundable. If you’re a repeat seller, you’ll only pay $97 to list your site. Potential buyers must pay a refundable 5% deposit fee to gain access to a listings URL, P&L, and Google Analytics. There are commission fees ranging from 8% to 15% depending on the final sale price. ConclusionThe race is on for micro startup acquisitions. Companies who understand the benefits of expanding their scope by adding complementary products and talent to their portfolio will reap the rewards. Companies who forgo adding micro acquisitions as part of their mergers and acquisitions strategy are going to get left in the dust by competitors and struggle to find top-tier talent. In short, there is no better time to be a desirable tiny startup. Have you ever sold or acquired a micro startup? What has been your experience? The post Micro Startup Acquisition: The Definitive Guide to Buying and Selling Small Startups appeared first on Neil Patel. Original content source: https://neilpatel.com/blog/micro-startups/ via https://neilpatel.com The original post, Micro Startup Acquisition: The Definitive Guide to Buying and Selling Small Startups, has been shared from https://imtrainingparadise.wordpress.com/2020/11/09/micro-startup-acquisition-the-definitive-guide-to-buying-and-selling-small-startups/ via https://imtrainingparadise.wordpress.com With the ability to take a lot of guesswork out of conversion rate optimization, eye-tracking software and heat maps can reveal some startling insights into increasing conversions (and avoiding sales killers) that can benefit every business. Here are 7 important eye-tracking studies that give a sneak peek into common browsing patterns and elements of human behavior that all marketers need to know. 1. Eye Tracking Shows We Must Avoid “Dead Weight” VisualsYou don’t have to be an expert in UX (user experience) to understand the importance of Fitts’s law. While seemingly complicated at first glance, one of the fundamental lessons Fitts’s law communicates is that object “weight” (in the visual hierarchy) is a big determinant in what attracts eyes and mouse clicks. Consider this recent case study from TechWyse that examined the homepage of a truck service with a heat map: As you can see from the first test, the non-clickable “NO FEES” button was hogging a lot of attention, but it is not a call-to-action and its information isn’t the most important on the page. That’s no good. Also, it is right next to one of the most important CTAs on the page (the phone number) and it stands out so much that it actually is drawing people away from other more important elements. Take a look at the changes they made to alleviate this problem. Much better! The “Call Now” button clearly is getting a lot of attention over every other section on the page, which is great because it is how customers get started contacting the business! Lesson learned: When you are assembling a persuasive landing page, be sure the elements that “pop” are the ones that matter, and that you aren’t giving too much weight to visuals that don’t encourage customers to take action. 2. Eye Tracking Shows The Effect of Video on Search ResultsMost marketers have seen those SERP (search engine results page) heat maps that show the top 3 rankings hogging all of the action… But what role do visual elements play in holding visitor attention? In an interesting heat map study published on Moz, videos were shown to be particularly powerful in capturing eyeballs through eye tracking, even when they weren’t the #1 result. As you can see below, both direct video results (such as a hosted YouTube video) and embedded video results (videos embedded on a webpage) commanded more attention than a regular search listing, especially if they were near the top of the results. Why video? Video is usually is interpreted as a product video. However, instead of assuming, test to see if it impacts your search traffic for top keywords. Lesson learned: If you want to stand out at the top of some competitive search results, you may want to test an embedded video rather than authorship for product pages. 3. The Power of Directional Cues’ Eye TrackingUsing visual cues to guide visitors to key areas of your site is nothing new, but just how effective is it? According to studies such as the aptly named Eye Gaze Cannot be Ignored, it is incredibly effective. Human beings have a natural tendency to follow the gaze of others, and we have been coached since birth to follow arrows directing us to where we should be looking and going. Consider the following eye tracking heat map example that included a page with a baby and a compelling headline for taking care of the baby’s skin. It’s obvious that the baby’s face is drawing a lot of attention. (As a matter of fact, faces of babies and pretty women draw the longest gazes from all visitors.) Unfortunately, from a marketing standpoint, this is a problem because the copy isn’t commanding enough attention. Now look at the browsing patterns when an image of the baby facing the text was used. As you can see from the eye tracking heat map, users focused on the baby’s face again (from the side) and directly followed the baby’s line of sight to the headline and opening copy. Even the area of text that the baby’s chin was pointing to was read more! Lesson learned: Visuals are an important part of a site’s overall design, but most pages can be optimized by including images that serve as visual cues for where visitors should look next. 4. Eye Tracking Studies Show The F-Pattern Works Across the BoardAccording to this study from the Nielsen Group, all across articles, e-commerce sites, and search engine results, people almost always browse in an F-shaped pattern that heavily favors the left side of the screen. This coincides with additional research that shows people tend to view the left side of the screen overall far more than the right. It is important to note all of these studies were conducted with English speaking (and reading) participants. The opposite was true for those users whose languages read from right to left. Is it any wonder that some of the most tested websites in the world (like Amazon) have placed a clear priority on the left sides of their homepages? Lesson learned: Web users tend to browse sites based on their reading habits. For English speaking people (and languages with similar reading patterns), the left side of the screen is heavily favored, and all sites tend to be browsed in an F-pattern. 5. Eye Tracking Shows “The Fold” isn’t That ImportantRelying on the screen above “the fold” to do all of the heavy lifting is one of the biggest usability mistakes you can make. The idea that it is the only place web users will browse is a complete myth. Multiple tests (including this one and this other one) have shown that users have no problem scrolling down below the fold. Surprisingly, they will browse even further down if the length of the page is longer. KISSmetrics conducted an interesting A/B test on his homepage and found that a page with 1,292 words beat a page with 488 words by 7.6%. And it didn’t end there. The leads from the long-form version of the page were higher in quality than the leads from the variation. Another great test from the folks at ContentVerve showed that moving the call-to-action far below the fold actually boosted conversions by 304 percent. Lesson learned: Although it’s dependent on the page you are testing, you shouldn’t be afraid of placing important elements below the fold (and testing them there), because it gives people time to read your copy before they take action. 6. Eye Tracking Proves That Newsletters Should Be Short and SweetWho’d have thought that eye tracking and email marketing could be best of friends? According to this eye tracking study conducted by the Nielsen Group, people scan emails very quickly, and the only areas they give any appreciable amount of time to at all are the initial copy and headlines. From the study: Users are extremely fast at both processing their inboxes and reading newsletters. The average time allocated to a newsletter after opening it was only 51 seconds. This means that you need to get to the point in your emails in under a minute. The message should be as compelling as that of an online article, but you don’t have as much time to capture attention as you might in an article. This coincides with a study from MarketingSherpa that shows people prefer short, clear, and un-creative headlines for their emails. (Creative headlines can seem mysterious, and mystery in an inbox may equal spam.) Truly a situation where the KISS principle applies! Lesson learned: Once you’ve earned the right to appear in a prospect’s inbox, be sure to keep that privilege by crafting emails that are clear and get to the point quickly. You don’t have as much time to broadcast your message as you would in an online article. 7. Eye Tracking Proves The Power of Pre-Sale PricesIf you’ve ever seen this video by Dan Ariely, you know that sometimes seemingly “useless” price points actually are quite important for increasing conversions. One common pricing element that fits the bill here is the “pre-sale” price. It isn’t literally used by customers because they don’t pay that price… But is it still “used” to evaluate the new price? In an effort to answer this question, Robert Stevens of THiNK Eye Tracking conducted a test that examined how people look at prices and products on shelves. In the initial test, results weren’t too surprising. Most people spent time looking at prices and product packaging. But if the pre-sale price was included, would people look at it? They did! Better yet, Stevens also tested perception of the sale price to see if viewing the pre-sale price played a role. These were his findings: After consumers selected the smoothie of their choice, I asked them if their purchase was a good value for the money on a 7 point “like” scale (with 1 being very good value for the money and 7 being not very good value for the money). Consumers who saw only the promotional item gave a mean score of 2.4. Consumers who saw the promotional item next to a full-price premium offer gave it 1.7, even though they purchased the same item! Basically, humans are pretty bad at evaluating price without contextual clues (as argued by Ariely in this TED talk). We find it much easier to make decisions when we have something to base them on. That’s why people often view a sale price as a better value when they can see what they really are saving. Without that contextual clue, the sale price is hard to evaluate because they don’t know what the product usually sells for. Lesson learned: Sometimes “useless” prices like pre-sale prices can be used by customers to evaluate the value of a potential purchase. About the Author: Gregory Ciotti is the marketing strategist for Help Scout, a Zendesk alternative made for small businesses that want help desk software with a personal touch. Get more data-driven content from Greg by downloading his free guide on converting more customers (with psychology). The post 7 Marketing Lessons from Eye-Tracking Studies appeared first on Neil Patel. Original content source: https://neilpatel.com/blog/eye-tracking-studies/ via https://neilpatel.com The original post, 7 Marketing Lessons from Eye-Tracking Studies, has been shared from https://imtrainingparadise.wordpress.com/2020/11/09/7-marketing-lessons-from-eye-tracking-studies/ via https://imtrainingparadise.wordpress.com How leaders can cultivate authentic relationships with their tribe right now. Original content source: https://www.entrepreneur.com/article/358303 via https://www.entrepreneur.com/topic/marketing The original post, 5 Fresh Content Ideas for Your Personal Brand, has been shared from https://imtrainingparadise.wordpress.com/2020/11/09/5-fresh-content-ideas-for-your-personal-brand/ via https://imtrainingparadise.wordpress.com Don’t consider yourself quite as tech-savvy as other rival entrepreneurs? Good news: You don’t have to fall behind. Original content source: https://www.entrepreneur.com/article/358821 via https://www.entrepreneur.com/topic/marketing The original post, 5 Types of Technology All Entrepreneurs Need Access to in the Digital Age, has been shared from https://imtrainingparadise.wordpress.com/2020/11/09/5-types-of-technology-all-entrepreneurs-need-access-to-in-the-digital-age/ via https://imtrainingparadise.wordpress.com In this video, Entrepreneur editor in chief Jason Feifer reveals strategies for getting press coverage. Original content source: https://www.entrepreneur.com/video/334432 via https://www.entrepreneur.com/topic/marketing The original post, How to Get Media Coverage For Your Business, has been shared from https://imtrainingparadise.wordpress.com/2020/11/09/how-to-get-media-coverage-for-your-business/ via https://imtrainingparadise.wordpress.com Here’s a handy list of must-dos to improve the return on investment of your influencer collaborations. Original content source: https://www.entrepreneur.com/article/354993 via https://www.entrepreneur.com/topic/marketing The original post, 10 Factors That Will Make or Break Your Influencer Marketing Campaign, has been shared from https://imtrainingparadise.wordpress.com/2020/11/07/10-factors-that-will-make-or-break-your-influencer-marketing-campaign/ via https://imtrainingparadise.wordpress.com |
AuthorI have loved my job from the first day I started. Being a marketing coach and helping people to be successful online is really inspiring. My Pocket Book is also my passion. |