Coach 4 Small Business

Tuesday 29 November 2016

Essential knowledge you must have before you start selling online!

Written by Priscilla Green

You're wanting to establish a business and sell online? Or you might be just venturing into marketing your products online? One of the important steps in starting a new business venture is market research. I know as well as anyone that it's time consuming and it's hard to work out what information is reliable. So, I've done some of the work for you here. What things should you know before you start selling online? These are the essentials:

1.What motivates customers to actually purchase?

2. What are people buying online?

3. When do they shop online?

1. What motivates customers to buy?

It's the 10 million dollar question isn't it. Like most things in business you have to start with "What's in it for me" (WIIFM) It's a somewhat rudimentary principle in business education, but these days many online entrepreneurs have little or no business training so it's often overlooked. So what will people pay big money for? What you have to remember is it's not about the a product, it's about what they derive from it. Does it make them feel excited, proud, is it a stressful experience or do they feel secure, do they enjoy the experience. Let's look at some important motivating factors.

1.Speed and convenience, they want it now! They want it easily. These days everything is at our fingertips, food, information, entertainment. So they expect the experience to stress free, quick and reliable. If it is they'll do it, what's more, they'll do it again.

2.They want the work done for them. The research, the comparisons, the curating and coordinating, the best buys! People are used to having a lot of the old fashioned research and organising done for them. People don't want to have to search all the different websites or visit all the stores to compare anymore, especially when there are online resources, forums, blogs that do it for them. So tap into this form of service, do some of the work for your customers. Provide them with time saving information.

3. Status - they want what nobody else has, they want a unique product or unique experience. Status has always been associated with the 'haves' and not the 'have nots', so don't be afraid to puff up the luxury, originality, rarity, limited edition factor, especially in your online marketing. Let's face it, we a like to feel a little bit special sometimes.

4. They want the leading edge, the best available, the newest to the market anything that gives them an edge. The lines at Apple are a pretty good indicator of this. Plus the positive sales figures in electronic goods backs up this notion. Make sure you remind prospective customers of why your product is leading edge. Is it created based on new research, is it using the latest technology, how will it improve their edge at work, in life, in appearance, in performance?

5. They want access, help, interaction. Yes the old fashioned stuff still applies. Prospective customers want to build trust, that's created through contact, updates, communication and access to you. Whether that's being able to email or ring with questions, access forums providing answers, using social media to keep up to date. Build a rapport with your prospective customers, this is how you create loyalty to your product and brand.

So now you have the basics on how to motivate your prospective customers to buy, what's next?

2. What are people buying online?

Sure ideally everyone wants to find a unique product or niche market to fill, but that's getting harder and harder unless you have access to the very latest technology or research well before your competitors, so first you need to understand what people want and what they feel comfortable buying online.

The most popular online purchases on Amazon according to The Street were :

Books
Electronics under $50
CD's, DVD's, Blu-ray Discs
Kindle books
Toys
Electronics over $50
Games
Personal care, shampoo, shavers etc
Vitamins and food supplements
Cosmetics and fragrances

Similarly, research provided by AlphaWise, Morgan Stanley Research in The Insider Australia found books and consumer electronics have the highest sales rates. Followed by athletic apparel, sports goods, shoes, pet supplies and clothing and jewellery.

Market research on online buying behaviour is critical, so what are the top selling items on eBay in 2016. According to crazylister.com these are products that are most appealing to online buyers.

Most popular HOME & GARDEN PRODUCTS

KitchenAid Pro 5 Plus Quart Bowl-Lift Stand Mixer -new $250 used $173

Dyson DC41 Multi Floor Upright Bagless Vacuum -new $330 used $218

Patio - 10′ Hanging Outdoor Market Umbrella - new $78 used $50

Zero Gravity Chairs (2) Black Lounge Patio Outdoor - new $93 used $80

Polaris 280 Pressure Pool Cleaner F5 Scrubber -new $418 used $195

DuroMax XP4400 Portable Gas Recoil Start Generator RV - new $416 used $215

Dyson DC34 Cordless Handheld Vacuum Cleaner - new $80 used $162

There is a pattern forming, it's a matter of identifying the pattern and tapping into it at the right time. Which leads us to the next issue.

3. When do they shop?

Business strategist Pascal Cohan explains 'If you’re anything like the average shopper in the US or UK, you probably do most of your online shopping on Sunday'. Remarkety research indicates that Wednesdays are the best day to following up prospective online purchases with an email with a higher likelihood of the clicks converting to purchases probably as Mondays are too manic, hence the Wednesday option. This is followed by Sunday being a favoured shopping day. Evidently emailing your prospective customers to remind them to get clicking is best done (in order of most likely to be opened) on Wednesday, Tuesday, Monday, Thursday, Sunday, with the most likely days to purchase (Hump Day) Wednesday and Sunday (relaxing day).

Supporting this evidence weblinc.com advises 'On Wednesday, traffic picks up as shoppers likely see an end to their work week approaching. Focus begins to wane and the weekend is nearly in sight. Research shows that open, click and email conversion rates on Wednesdays are steady, a signal that ecommerce marketers may want to test out a mid-week promotion via email'. Their information also supports the notion that Thursday and Fridays can be somewhat slow days when it comes to click conversions, along with Saturday however interest picks up again on a Sunday.

Social media advertising seems to have some varying peak times to engage with prospective customers. According to FastCompany.com 'You should post on Facebook during the afternoon slump. Most people need some motivation to get through the afternoon slump, and for many of us that means checking Facebook'. Therefore posting to Facebook between 1pm and 4pm results in the highest average click through rates. These numbers peak around 3pm and hit rock bottom on weekends, before 8am and after 8pm when people presumably have better things to do. They also recommend scheduling tweeting for lunchtimes Monday to Thursday.

Fastcompany also advises Pinterest is for daydreaming (ie. weekends). They say that Pinterest users are checking out home organisation hacks, delicious recipes, and dream purchases more on the weekends, especially first thing on Saturday. Weekdays they're less likely to engage Pinterest.

Shopify advises that the best times to engage with prospective Instagram customers are:

Saturday around 6pm being the greatest peek time

Tuesday after 11pm

Monday midday

Sunday 10am

Wednesday 4pm

It certainly couldn't hurt to schedule your posting at these times to see what result you get.

There is a wealth of data available online to help you determine your online marketing strategy and to assist you in profiling your customers buying behaviour. Often it's trial and error until you discover how your niche market responds.

If you are interested in business coaching and support in developing a business plan, doing market research or addressing your business management and staffing issues head over to my website www.coach4smallbusiness.com.

You'll also find more articles to help you with your business on my website!

Good Luck.

Priscilla

References:

https://crazylister.com/blog/top-selling-items-on-ebay/

https://www.thestreet.com/story/13099093/1/top-10-things-people-bought-on-amazon-in-february.html

https://www.blogmarketingacademy.com/things-people-buy/

https://www.similarweb.com/blog/shopping-days

http://www.businessinsider.com.au/what-people-buy-online-2013-1?r=US&IR=T

https://www.remarkety.com/online-shopping-trends-reveal-best-days-and-times-to-email-customers

https://www.weblinc.com/blog/trends-when-do-people-shop-online/

https://www.fastcompany.com/3036184/how-to-be-a-success-at-everything/the-best-and-worst-times-to-post-on-social-media-infograph

https://www.shopify.com.au/blog/14288561-how-to-build-a-massive-following-on-instagram

Friday 27 May 2016

10 Tips on working from home for mums!

Support groups for small business mums have grown insurmountably primarily due to the numerous challenges uniting these mums. Often these mums need to have flexible employment options that work around family commitments and they need the support and guidance of other mums and entrepreneurs.

Creating a professional business environment within a home can provide so many challenges that sometimes it can be overwhelming and seem almost impossible. It's an issue I've had to overcome myself going from working in a city building with all the facilities I needed at my finger tips and a terrific spacious office to juggling a child and a home office.

I've discussed the issue of how to successfully work from home with literally hundreds of clients, staff, colleagues, friends and discovered that sometimes it's the little things that make the difference. You might be surprised how simple daily changes in your routine can create a home and lifestyle more conducive to being a work from home mum. So what are they?

10 tips for mum's working from home

1. Set working days and hours and stick to it!

It's important to set expectations for yourself, your customers and clients, your suppliers or the people you deal with via your business and most importantly for yourself and your family. If everyone is clear about what days and times you are working your are going to have far greater success at balancing all your conflicting priorities. Don't be afraid to tell people you are only available between certain hours (after school drop off and prior to kinder pick up). The only way we are going to change attitudes in our business communities to being sensitive to family commitments is if we all adopt this philosophy and promote it.

2. Create areas for working and completing different tasks.

Everybody likes different work spaces. It's important to establish what works for you and what fits within your home. Where you meet with clients might be quite different to where you like to write. Similarly where you do your financial records and administration might be different to where you develop creative products. So clearly identify the differing tasks you need to do then set about evaluating what environment is conductive to conducting those activities efficiently. Consider how comfortable it is, what sort of distractions there are, is it practical (good benches that you can leave things out on). Is it cosy and warm or cool, somewhere you can be creative and design.

3. Find some locations to work locally to get you out.

I can not stress enough how important this is. Women that do freelance work that requires driving around to different clients will be familiar with how important it is to find great little cafes's where you can get a coffee, a bite to eat and quietly get a bit of work done. Over the years I've found so many terrific cafe's that are comfortable and friendly where I can work in between visiting training and development clients and workplace based students. These days I have found 5 or 6 local cafes that either have comfy couches, great light, friendly staff and of course good coffee. When I managed a department at RMIT University, I had a group of mobile trainers whom we went to great lengths to help them establish virtual offices, that included rather smart leather breif cases on wheels, laptops, tablets and Palm Pilots to manage their diaries, in the early 2000's virtual offices were quite a new concept. These days it's essential.

Now that I'm working for myself, I work at least 2 hours 3 times a week at a local cafe, just for the change of scenery. These are great places for you to return emails, do research, design or create products, do writing for your business, anything that is mobile. All you need is a small laptop or iPad and wifi connection. Many cafes will give you an hours or so free wifi, although sometimes these can be a little slow. Using the the Hotspot on your mobile phone for wifi is probably the most reliable. However be aware of charges on your phone, especially if watching videos or downloading videos and images.

4. Get dressed as if you are going to work.

It's really easy when you work for yourself to fall into the trap of not bothering to maintain your routine of dressing professionally. Whether your business requires you to wear overalls, protective wear, sports wear or a suit. Just make sure you're doing it everyday that you are scheduled to work. Sure you can adapt your wardrobe to suit a less formal environment, however try to create a balance between comfortable and professional. Remember everywhere you go you are representing your Brand! If you have a certain level of expectation of your staff or future staff, you also need to practice what you preach. As far as your presentation goes, make sure you are setting the standard for your brand. During my many years of teaching management and business administration an important aspect of training was teaching students how to project themselves, how to promote themselves. Presentation is a critical aspect of this, not just because of the perception it creates but because of the impact it has on your self esteem. Feeling good about how you look carries into your attitude and behaviour.

5. Make your bed

Maintaining a haven where you can rest and switch off is critical. So many people stress when they should be sleeping. So when you get up tidy the room and leave it looking lovely. So when you finally kick off your shoes and flop on the bed at the end of a long day it feels like you're landed in heaven! Additionally, inevitably you will need to go back into your bedroom during your working day. Walking into an unkept messy room truly is not conducive to a professional mindset.

6. Keep the kitchen clean

You wouldn't want to go into the work cafeteria to see dirty dishes piled high and shopping still not put away. So make sure each morning or the night before you get it tidy. Set rules for you family about keeping it clean and tidy. The old 'if you use it put it away, if you dirty it, wash it' rule can make the world of difference.

7. Be ruthless with your expectations of your children to tidy up after themselves.

Ok this is not possible with really little kids, however I know from personal experience even toddlers can be enticed to tidy up after themselves. All too often working from home mums spend the day climbing over mess and toys unnecessarily. Make sure your kids are shown what goes where, incentivise the tidy up, use reward charts and get them to take pride in caring for their belongings. Label the toy boxes with pictures or words depending on their age and make it fun. They can help design and create the storage options and labels. If you are battling with getting your kids to contribute to keeping your home nice you can always break out the trusty old " if you leave mess around the toys go in the washing basket on top the the cupboard and you have to earn them back", or confiscating the iPad, or taking time using it off them is worth a try. "No Minecraft for a week" is a powerful incentive. Both of these have worked quite successfully for me.

However do NOT allow yourself to get into the habit of daily picking up after them, sure you might have to help and guide them....but 'Mummy the Slave' you are not! You will need to be vigilant, but in the long run, it will mean a home based office will be far more manageable if the kids contribute. You might be surprised how good your 4 year old is at vacuuming his playroom. I was!

8. Designate a play area.

When you are trying to work with kids under your feet, toys seem to spread everywhere. Even if your kids are great at tidying up after themselves, they need space to just be kids, whilst you are working. Ensure you designate some space just for them. A playroom or play area can give children a sense of ownership. They will be far better at tidying up their mess if they know they have a set area to play in. So once they have had enough of making dinosaur land and want to do some drawing or crafting, they'll need to pop the dinosaurs away before they get out the craft stuff.

9. When it's family time do it with gusto.

Mummy guilt is universal amongst working mums so when you have designated non-work time with your family make sure it's memorable. That does not mean flying around taking them to sporting activities or feeling that you need to take them to the latest play centre. Instead break out the board games, or do some learning activities or learning activity books with them one on one. Play Go Fish, go for walk in a park, go exploring in the bush land, make a blanket cave, let them teach you their favourite online games or do something creative or crafty with them. When you switch from business owner to mummy the kids need to really feel you are 'present'. It means the time you spend working will give you less of a guilt trip.

10. Don't let health and nutrition suffer

Poor nutrition means low stamina and lack of concentration. Plus you're not doing your business any favours by neglecting your health for the sake of saving time. It's really easy to opt for prepackaged foods when we are in a hurry and yet simple meals and home made frozen left overs can be far more nutritious and just as quick and easy. It may take a little more time in the planning stages but your health and your children's health and improved behaviour will be so beneficial you'll wonder why you thought packaged food or takeaway was an option.

So that I don't find myself having a mealtime breakdown I always plan the menu for the week on a Monday morning, or at least 5 days worth of meals. This means you can do the complete shop, stock the cupboards and fridge and work out which meals are more quick and simple and you can make these on your crazy busy days and the more lavish complex meals can be on your quieter days. Additionally we have such a beautiful abundance of natural, safe and healthy foods in this country it should almost be a crime to feed your family anything less than quality, nutrient filled food.

Making sure your kids are full to the brim with healthy food is going to be more beneficial to your business than you think. So many behavioural issues with children are linked to poor diet, sugar, food toxins and additives and preservatives often found in packaged foods. So make sure they have healthy alternatives with the odd sweet or savoury treat thrown in. Invest the time in desensitising them to a broad variety of healthy food, so at dinner time it might be a lot of nagging and begging to get them to try things at the dinner table and snack time for a while, however each time it will get a little easier once they realise you are relentless. The pay off is that your children's behaviour will be less erratic, meaning the juggle of you kids and a home business won't be such a drama. Too often we suffer through issues with our kids only to find the fix was quite simple.

Most mums find working from home a real challenge, however adopting even of few on these tips I guarantee will make your home/business balance just a little bit easier.

Monday 4 April 2016

Reach your goals and get Motivated

One of my favourite articles from Lily Online Magazine. Goal setting is critical to achieving your dreams. As they say, if you fail to plan, you plan to fail!

You can also read this article in the magazine HERE

read the article in the magazine