Data analytics programs have come a long way in a short period of time. Over the last several years, the number and sophistication of data points a business has access to has increased dramatically — and leaders know their success rates can skyrocket when data is put to work.
According to a 2013 study by Cisco, 60 percent of global businesses believe Big Data will improve their decision-making and competitiveness. But the same report also found that just 28 percent of businesses are generating strategic value from the data they collect, and nearly 40 percent said they need a plan to take advantage of Big Data.
If businesses know the potential of data-driven strategies, why do leaders struggle to actually implement them? As human beings, leaders tend to rely on their emotions and gut instincts when making strategic decisions. While this is the easiest way to make decisions, it may not be the best, especially when it comes to the ever-evolving world of data analytics.
"People in leadership positions often got there in the first place because they have great instincts," said Jake Stein, founder and COO of business intelligence firm RJ Metrics. "The problem is that once you're in a leadership role and you're encountering a greater number of less familiar situations, your instincts are less likely to serve you well. Your gut is going to tell you how to operate based on old situations, not based on where you are today."
To truly help their businesses benefit from Big Data, leaders themselves need to adopt a more rational, data-driven mindset themselves, instead of relying solely on largely irrational human instincts. Stein noted that one key characteristic of data-driven people is a desire for intellectual honesty. They are willing to ask questions, even about their own assumptions, because they genuinely care about finding the right answer. Data-driven people are also acutely aware of the way their brains tend to trip them up.
"Humans are irrational," Stein told Business News Daily. "Data-driven people are not less irrational, but they do cultivate habits and ways of thinking that help them override these natural tendencies toward irrationality."
Recognizing the power of cognitive biases, both within yourself and your company, are essential to developing a data-driven way of thinking, Stein said. It's natural to want to be right, but a data-driven leader and team needs to embrace being proved wrong by new and better information.
"A lot of times, when someone's ideas are attacked, he or she will feel like it's an attack against him or her personally," Stein said. "This is not the right way to think about it. If you can separate your personal identity from your ideas, you're free to change your mind when you have good evidence to support going in a new direction. This means you can take criticism positively, because it's not about you. It's just an opportunity to improve your idea."
Although changing your mindset to be more data-driven can certainly aid in strategic decision- making, it's important to remember that data may not always give you a perfect, concrete solution to a business problem.
"At the end of the day, you're never going to have all the evidence you need to make a perfect decision, and there may not be consensus," Stein said. "The important thing is that you create habits and a culture that make it easier for you and your team to get to the right answer."
Despite their success as entrepreneurs, women find it exceedingly difficult to obtain venture capital funding, new research finds.
Even though the amount of early-stage investment in companies with a woman on the executive team has tripled in the last 15 years, 85 percent of all venture capital-funded businesses have no women in top leadership roles, according to a study from Babson College's Diana Project, a program founded in 1996 to research female-led businesses globally. Overall, just 2.7 percent of venture capital-funded companies have a woman as a CEO.
Between 2011 and 2013, venture capitalists invested 10.9 billion out of a total of $50.8 billion in companies with a woman on the executive team and just $1.5 billion in companies with a female CEO.
Notwithstanding the investment numbers, businesses with women in charge are often more successful than those run by men. The research revealed that businesses with a woman on the executive team are more likely to have higher valuations at both first and last funding.
There is an enormous untapped investment opportunity for venture capitalists smart enough to look at the numbers and fund women entrepreneurs, said Candida Brush, a Babson professor who is the study's author and a Diana Project co-founder.
"Only a small portion of early-stage investment is going to women entrepreneurs, yet our data suggest that venture capital-funded businesses with women on the executive team perform better on multiple dimensions," Brush said in a statement. "The venture capital community, therefore, may be missing good investment opportunities by not investing in women entrepreneurs."
There appears to be a correlation between venture capital firms that have women as partners and those that invest in female-run businesses. Venture capital firms with female partners are more than twice as likely to invest in companies with a woman on the executive team and more than three times as likely to invest in companies with female CEOs, according to the study.
Contributing to the problem is a declining number of female decision-makers in the venture capital industry. The research discovered that the number of female partners in venture capital firms has dropped from 10 to 6 percent in the last 15 years.
Patricia Greene, a co-founder of the Diana Project, said for years it was thought that female entrepreneurs needed to change their approach to networking, pitching ideas or industry in order to secure venture capital.
"It is increasingly apparent that many women entrepreneurs have followed these prescriptions, yet they have not been able to achieve proportionate increases in early-stage growth capital," Greene said. "The tremendous work within the entrepreneurship ecosystem to support and foster growth of women entrepreneurs, and the findings of this study, demonstrate it is not the women who need fixing; the model for venture capital that has been in place since the 1980s simply does not work for women entrepreneurs."
Researchers offer several recommendations on how to improve female entrepreneurs' access to venture capital funding, including:
Determine the reasons why so few women choose to work in venture capital and call on the venture capital industry to do more to recruit and promote female investors to partner level roles in order to increase the number of female investment professionals.
Highlight the successes of venture capital-funded female entrepreneurs in order to change the social perception that only male entrepreneurs can be successful in venture capital funding.
Examine if gender or geographical biases are part of the venture capital decision-making process.
"While there has been progress made, clearly venture capitalists are leaving a lot on the table by not seeking out and being more open to funding women entrepreneurs," said Babson College President Kerry Healey. "Closing the gender gap and providing greater funding opportunities for women entrepreneurs not only makes good financial sense for venture capital firms, it also will drive new economic growth and spur innovation."
For the study, researchers consulted a database of 6,793 unique companies in the United States that received venture capital funding between 2011 and 2013. They then examined each business to determine if there was a women on the executive team.
The original iPad Air (pictured here) was 7.5 millimeters thick, and it's still one of the slimmest slates around. Credit: Apple
The next-generation iPad tablet could be the best business slate Apple has ever released. The so-called iPad Air 2 – a follow-up to the original iPad Air, which launched last fall – is expected to debut sometime in October, about a month after the launch of two new iPhones. If reports are true, the release would be in line with the company's typical release schedule from previous years. Apple hasn't confirmed any details about its forthcoming tablet, but rumors and reports about the device might give us a decent idea of what to expect. Here are five rumored features we expect to see in the second-generation iPad Air.
Faster performance
A new generation of iPads means faster performance. The new iPad Air is expected to feature Apple's new 64-bit A8 processor – the same one that's packed into the new iPhone 6 and iPhone 6 Plus. That means business users can expect extremely speedy performance, even for processor-intensive tasks such as spreadsheet computation. Some reports also indicate that the next iPad might include an additional 1GB of RAM, so users can expect snappy multitasking when juggling multiple apps.
Thinner design
The original iPad Air was 7.5 millimeters thick, and it's still one of the slimmest slates money can buy. Now reports say the next-generation iPad will be even thinner. That's generally a plus for business users, since a lighter, more portable device is easier to carry on a daily commute. Historically, Apple has slimmed down its mobile devices with just about every release; for example, the new iPhone 6 and iPhone 6 Plus are the slimmest iPhones yet. But there is at least one downside to a producing thinner and thinner tablets: it leaves less room for the battery. And battery life is crucial for business users who depend on their mobile devices to last through the end of the workday and beyond. Fortunately, Apple's A8 processor is rated to be about 50 percent more efficient than last year's A7 chip, so it conserves battery life better than its predecessor. Besides, newer tablets such as the Samsung's Galaxy Tab S have already managed to be thinner than the iPad Air while maintaining good longevity.
iOS 8
Apple's new iPad is sure to run on iOS 8, the latest version of the company's mobile operating system. That will add tons of handy, productivity-boosting features to the device. For starters, iOS 8 adds a new way to quickly act on incoming messages. When a new text message or email arrives, it will appear as a small pop-up at the top of your screen. Just swipe down to reveal the keyboard, type your message and hit send. In other words, there's no need to leave the app you're currently using to respond to incoming messages.
Another useful feature for business users is Handoff, which will let you link your iPad to your iMac of MacBook computer. When you're editing a document or typing out an email on your tablet, you can transition seamlessly to the desktop to keep working, and vice versa. Just tap the Handoff button on the device you're currently using. It works because Apple devices now automatically recognize each other when they're connected to the same network. But only mobile devices running iOS 8, and desktop devices running OS X Yosemite – the new version of Apple's desktop operating system, also due out in October – can use Handoff.
Fingerprint scanner
If you use your mobile device for work, security should be a top priority. That's why it's such a big deal that Apple is expected to bring its Touch ID fingerprint scanner to the next iPad. It will reportedly function the same way it does on the iPhone 5s, 6 and 6 Plus, letting you unlock your device quickly and easily by pressing your finger to the tablet's home button. In other words, it lets you keep your iPad on lockdown, without the need to fuss with cumbersome password screens.
And since the new iPad will run on iOS 8, it will offer some handy new Touch ID tricks. That includes the ability to lock individual apps using the fingerprint scanner. If you use a finance app to track your spending, for example, you can secure that data using Touch ID. That's a big perk for business users who use their iPad for work, but still want to share it with kids, friends or co-workers.
iPad Pro version
Apple recently released a set of smartphones that are bigger than any it has made before. So why not a bigger iPad? The so-called iPad Pro is a long-rumored device that's reported to be a bigger version of the iPad Air 2, with the main distinguishing feature being a huge 12.9-inch display. Apple's hasn't confirmed any information about the existence of such an iPad, however, so take these rumors with a grain of salt. Regardless, a bigger iPad would certainly give business users a boost. The current iPad Air – and other full-size iPad models – offer a 9.7-inch display. They're decent work machines, especially when paired with a Bluetooth keyboard for extended typing sessions, but they don't offer enough screen real estate to be a suitable laptop replacement for most users.
The supersized iPad Pro, meanwhile, would have a screen that's about the same size as the display on the 13-inch MacBook Air, which strikes a great balance between portability and productivity. A 12.9-inch iPad would be big enough for serious productivity tasks, but still small enough to carry on your daily commute.
But Apple fans might have to wait to get their hands on the iPad Pro. Though the second-generation iPad Air is expected to launch before the end of the year, reports indicate that the iPad Pro might not launch until sometime in 2015 – that is, if it materializes at all.
NEW YORK (September 30, 2014) – Sheryl Sandberg is the COO of Facebook, but she is perhaps best-known for being a champion of the modern female professional. Her online community, Lean In, and book of the same title are all about "encouraging women to pursue their ambitions, and changing the conversation" about what women can achieve in their personal lives and careers. Thanks to thought leaders like Sandberg, women today are more empowered and vocal than ever about accomplishing their goals. So why aren't the brands that market to them listening?
In a Sept. 29 panel at Advertising Week 2014, Sandberg spoke with experts in media and advertising about what the most progressive brands are doing right in their approach to capturing the female market, and why there's still so much more work to be done. "Rethinking Marketing to Women," which was sponsored by Lean In and Getty Images, featured Getty CEO and Co-Founder Jonathan Klein, Cosmopolitan Editor-in-Chief Joanna Coles, and BBDO Worldwide ad agency President and CEO Andrew Robertson.
During the panel, ad campaigns from big-name companies like Pantene, Dove, Verizon and Under Armour, as well as Getty's "Lean In" stock image collection, were used as case studies to show how brands are evolving to meet the demands of a female demographic that refuses to be bound by labels and stereotypes.
"The classic stereotype stock photos of women were not doing well," said Klein, referring to Getty Image sales. "People are looking for something different. We needed a collection of images that reflect women as they are today and likely will be in the future."
You won't find any images of female models in stilettos and a suit dress, or juggling a baby and a briefcase in Getty's "Lean In" collection. Instead, you'll see real, everyday women working in a variety of professional settings, dressed in jeans and even athletic wear, but still clearly in leadership positions. And it's that very notion — women in leadership positions — that has spurred so much debate and change around the way brands are marketing to women.
"Stereotypes about men and women are remarkably similar around the world," Sandberg said. "We applaud men for leadership, but discourage it for women."
Sandberg took an audience poll to see how many people were called "bossy" as a child, or "too aggressive" in the workplace, and unsurprisingly, the individuals who raised their hand were overwhelmingly female. The most successful ads today are the ones that call attention to this divide and challenge it, like a Pantene ad from 2013 that depicted men and women doing the same actions — leading a business meeting, speaking at a conference, getting dressed up to go out, etc. — but each was labeled with a completely different word because of their gender ("boss" versus "bossy," "persuasive" versus "pushy," "smooth" versus "showoff").
"Pictures change the way we behave, and so do words," said Robertson, whose company worked on the Pantene campaign. "[The ad] fought against the labels holding women back. [It showed] women we understood that, and created an understanding of and connection to women."
Women currently control about half of the private wealth in the United States, and are poised to earn more than their male counterparts over the next decade. This economic power shift has given brands a concrete reason to focus on marketing to women, but they're going to need to follow the lead of progressive advertisers that challenge assumptions about this market if they want to succeed.
"Brands have to work harder now [to reach women]," Coles said. "Twenty years ago, brands fell back on tropes because they were [true], but they're changing."
"The easy defense for [using stereotypes] is, 'It works,'" added Robertson. "It works … but there is a better way, and [brands] should be looking for the better way."
If you're searching for a perfect work-life balance, certain jobs give you a better chance of finding it than others.
Data scientists, search engine optimization specialists, tour guides, lifeguards and social media managers are the five best jobs for work-life balance this year, according to new rankings from the online career community Glassdoor.
Based entirely on employee feedback shared on Glassdoor.com over the past year, the rankings identified 20 of the highest-rated jobs for work-life balance. Some of the overriding themes in the list of professions that provide a solid work-life balance include that they allow employees to work flexible schedules, work remotely and, in several cases, set their own schedules, said Scott Dobroski, a career trends analyst at Glassdoor.
Flexibility "tends to be a big factor when it comes to maintaining a healthy work-life balance, as it allows employees to manage both their work lives and their personal lives," Dobroski told Business News Daily.
Maintaining a healthy work-life balance is important to many employees because outlets besides work — such as friends, family and hobbies — are critical to their overall happiness and life satisfaction, Dobroski said.
"In fact, when we're satisfied in one part of our life, that can directly impact other parts, including work," Dobroski said. "By maintaining a healthy work-life balance, we see employees who tend to be satisfied in their jobs, meaning they're contributing to their companies, motivated to work hard and be productive."
Additionally, employees with a positive work-life balance are less likely to feel burned out, which is good for both employees and employers, Dobroski noted. For the study, employees ranked work-life balance on a scale of 1 to 5, with 1 equaling very dissatisfied, 3 equaling OK and 5 equaling very satisfied. Here are this year's 20 highest-rated jobs for work-life balance:
Data scientist – 4.4
SEO specialist – 4.3
Tour guide – 4.3
Lifeguard – 4.3
Social media manager – 4.3
Group fitness instructor – 4.2
User-experience designer – 4.2
Corporate communications professional – 4.1
Firefighter – 4.1
Equity trader – 4.0
Law clerk – 4.0
Investment analyst – 4.0
Administrative assistant – 4.0
Office assistant – 3.9
Sales representative – 3.9
Help-desk technician – 3.9
Substitute teacher – 3.8
Carpenter – 3.8
Real estate broker – 3.8
Game designer – 3.8
If your job isn't on this year's list, that doesn't mean you can't achieve a healthy work-life balance, Dobroski said. In fact, the most important thing you can do when you're trying to achieve a work-life balance is to determine what that means for you, specifically, he said.
"Once you can identify what this means for you and your needs — both in and out of work — you'll have a better idea of how to gauge whether your job or company is meeting this or not, and how it impacts your overall satisfaction while at work," Dobroski said.
The report was based on at least 20 work-life balance ratings per job title shared on Glassdoor between July 2013 and July 2014.
LinkedIn isn't just for professionals and job seekers. Sure, millions of professionals use LinkedIn every day to grow their networks and their careers, but did you know you can use LinkedIn to grow your business, too? From making connections to generating leads, establishing partnerships and creating better brand awareness, LinkedIn makes an invaluable addition to your digital marketing strategy.
At its core, LinkedIn is a professional social network. It's all about career development, professional connections, industry discussions and other types of business-related activities. It's not like other social media marketing platforms, such as Facebook, Twitter or Instagram; there, businesses have direct access to consumers that they can easily market to with status updates, images and other casual posts.
Moreover, unlike LinkedIn, brand followers on these other social networks already expect or are at least aware that companies use the platforms to sell their products and services. This is definitely not the case on LinkedIn, where blatantly pushing your business, spamming and obvious hard selling is highly frowned upon. Because the network consists of a totally different audience, LinkedIn marketing requires a different type of approach to get the results you want.
To help you navigate LinkedIn as a marketing platform, here are 15 LinkedIn marketing hacks you can use to find new customers, create new contacts and ultimately grow your business.
1. Find highly targeted customers and connections
The targeting on LinkedIn is unparalleled in the realm of digital advertising. Small businesses can zero in on the exact industry, company size and job role [of the people] that they know typically would buy their product or service. For example, if you are selling customer support software to small businesses in the United States, you can set your advertising campaigns to only be showing to businesses [that are] under 100 employees, based in America — and within that grouping, only to executives at those companies with a customer-support title. — Tim Peters, director of marketing, IntelliResponse
2. Stay on customers' radars
My company helps small businesses generate leads on LinkedIn. Clients tell us what kind of people make high-quality customers for them. We search on LinkedIn for people who fit their criteria, and then introduce them. (We do it so it looks like the client is introducing themselves, but we do all the work for them.) Then we stay in touch with the people who have expressed interest, again using LinkedIn. We do daily status updates and weekly LinkedIn blog posts to keep the client's name in front of their network. We also send monthly emails that share information about the kinds of problems our clients can solve for their customers, and share the results they have achieved for other customers. We also make offers, such as inviting people to a webinar or offering a white paper. The result is a simple, inexpensive, systematic process for doing lead generation, with all the work done through LinkedIn. —Judy Schramm, CEO, ProResource, Inc.
3. Grow your email marketing list
I highly recommend everyone on Linked write a crafted letter, saying thank you for being connected on LinkedIn, and that you invite them to be part of your email marketing list. Do apologize for the lack of personalization in the email. LinkedIn lets you message 50 people at a time this way. I added about 300 people to my email list with this method. Include in your email a direct link for the email signup. It is imperative that you have reciprocity in the message: 1. Tell them what they will receive by signing up for the email list, and 2. offer to look at something of theirs, which is a fairly noncommittal method to garner goodwill. — Bradford Hines, founder, YumDomains.com and HungryKids.org
4. Use Sponsored Updates
With Sponsored Updates, businesses pay to push their post onto an individual's LinkedIn feed. This "pay-per-click" or "pay-per-1,000" impression feature offers demographics similar to other social platforms (location, gender and age), but one key differentiation is the ability to customize based on company name, job title, job function, skills, schools and groups. Users can target interested industries, without competing against the noise of other irrelevant companies and messages. A sponsored update can be an excellent way to promote thought-leadership content useful primarily to the targeted audience with a strong call to action. People don't want to see pure advertising anymore and want something useful for free. By promoting a firm's content (white paper, guide, etc.) through a LinkedIn Sponsored Update, a firm can target a niche audience, increase website visitors and, if the content is compelling enough, generate sales leads. — Jeremy Durant business principal, Bop Design
5. Post high-quality content
Good content can be highly targeted and should accomplish two goals. First, it should teach others how to solve a problem or how to do their job better. And it then establishes you as a thought leader in that space. Each aspect naturally leads to more business, if you offer them real value. It's basic psychology, and it gets real results. — Michael Riley, co-founder, Boxter
6. …and go viral
Posting directly on LinkedIn is the most powerful tool available on LinkedIn today. If a post begins to gain some momentum, LinkedIn will put a spotlight behind it in one of their categories, and it can get tens of thousands of readers (or more). This is a great way to improve your visibility while reaching readers in a way that would not have been possible on your own website/blog or even posting an article link on LinkedIn. — Lavie Margolin, author, "The LinkedIn Butterfly Effect" (H. Delilah Business & Career Press, 2013)
7. Give a face to your employees
Get as many of your employees as possible to create and complete their profiles on LinkedIn. These should include appropriate photos, relevant job history that includes a description of how they help your business, and professional connections. My current company is putting together a LinkedIn Day when we'll have a photographer available to take profile photos, and we'll help employees set up their accounts. — Tam Frager, marketing and communications manager, Front Range Internet, Inc.
8. Join groups — and stay active
One tip I always share for small business owners is to join LinkedIn groups that are relevant to their target demographic. Not only is this a great way to "listen in" on what your audience is talking about, there may [also] be times for small business owners to interact or offer their advice. More importantly, you can message the members of groups you are in, even if you aren't connected. LinkedIn InMail adds up quickly, so this is a great way to save money when building relationships with potential clients. — Lauren Covello, content marketing strategist, Ripen eCommerce
9. …and create your own LinkedIn group, too
Here's a secret sauce to find your ideal, ready-to-buy prospects right away on LinkedIn: Create your own LinkedIn group to start with. After you have your LinkedIn group set up, go out and join as many groups (LinkedIn allows you to be in 50 total) where your prospects are hanging out. The next step is to pick one of those new groups you've joined and start working the Members page to find prospects. Once you're inside the group and approved as a member, click on Members, then filter the list of members further by searching for certain job titles or something else to winnow down the list to your ideal prospects, and then invite them to join your group (tip: send personalized invitations). Once these invitees join your LinkedIn group, you have all your proverbial fish in the same barrel — all your best prospects in one place! You can control this LinkedIn group so that no competitors get in, and you can share great/valuable content within the group that your prospects will love. You also get to demonstrate your value/expertise for them while avoiding overt sales pitches or spam. Plus, you also have a built-in email list, focus group of your core prospects/clients and so on. This is a great tactic to build your brand and generate leads to boost your small business. — Ali Liaquat, head of marketing, IT-Serve.com
10. Make your Company page matter
It's also important to have an updated and consistent presence for your brand with its own Company profile page. Imagery, colors and content on this page should be consistent with your website and any other social media profiles the business has. The page should be updated regularly, so the brand is active and appears to be a current business. We've all had the experience of stumbling upon a company social media profile that's updated once a month, or worse, hasn't been updated in months. Creating a LinkedIn presence then not maintaining it will be worse than not having one at all. — Carrie Booher, chief marketing officer, Online Optimism
11. …and don't forget to claim your custom URL
Everyone should claim their custom URL to ensure it includes their name (e.g., http://linkedin.com/in/davideerickson). This is especially important for people who have a lot of contact with potential clients — especially for those who [are in] professional services and the B2B sector — because when meeting with someone they have not yet met, many people will search Google for the name of the person with whom they're meeting in order to learn more about them. Claiming your custom URL makes it more likely your LinkedIn profile will rank in the top of those search results. — David Erickson, vice president of online marketing, Karwoski & Courage
12. Complete the Summary section on your own profile
The summary section is the most overlooked section. You have 2,000 characters to speak to your target audience, directly and persuasively. Use complete sentences, write in first person, and address their pain points clearly and succinctly. Many people prefer to go to LinkedIn than a website. Most of the time, people want to connect with the person before the product or service, and this is your opportunity to introduce yourself to prospective clients and customers. Also, include your contact information at the end of the summary section. Even though it's elsewhere on your profile, make it easy for people to reach you. — Susan Tabor-Kleiman, Esq., owner, Your Professional Writer
13. Think of it as a numbers game
I have learned that LinkedIn marketing is more science, less art. In other words, it's a numbers game. I know that each Wednesday, I'll touch at least 2,000 C-level executives. These touches will lead to about six responses, and two of those six will become clients. Instead of attending trade conferences, exhibiting and speaking at a cost of approximately $10,000 per conference, I have built my own practice for less than $1,000 a year for marketing, $250 of which goes to LinkedIn for a Premium account. I can afford a few hours each week of my time more than I want to swallow the $40,000-per-year pill that I know most of my colleagues spend, attending an average of four conferences each year. — Greg Taylor, owner, Telecom Law Attorney
14. Avoid hard selling
Treat LinkedIn like any other form of marketing that you do, and get clued up on the latest trends. People don't want to be interrupted, so try your best to be "discovered" on LinkedIn. Read up on Content Marketing and Inbound Marketing, and apply these strategies to this network. There are plenty of people acting like hard-sell 1980s sales reps on LinkedIn, so be wise and don't become one of them. — Nikki Hammett, digital marketing manager, blur Group
15. Start with connections, then build relationships
Understand that LinkedIn is a social network for professionals to connect with other professionals. A business owner can, and should, connect with prospects, strategic partners, referral partners and other business owners. And once those connections are made, the business owner can decide how to nurture specific connections to grow the relationship. — Charlene Burke, CEO, Search by Burke, LLC
Mobile advertising can mean big business. The problem is that not all mobile devices are built alike. With hundreds of smartphones, tablets and e-readers available — all running on a wide range of operating systems, Internet browsers and screen sizes — mobile-ad displays can be very problematic. Sometimes, mobile ads don't appear correctly. Other times, they don't appear at all. Small businesses can't afford to deal with these nuances. Google aims to change that.
The search and online advertising giant announced today (Sept. 29) that it will roll out new mobile-display-ad formats and tools across the company's advertising properties, specifically the Google Display Network, the AdMob Network and DoubleClick. With this new mobile-advertising system, Google aims to deliver an improved user experience and make it easier for advertisers to launch successful mobile-advertising campaigns regardless of users' devices and screen sizes.
To help advertisers better reach and engage with mobile consumers, Google will offer four types of new ad display formats built specifically for mobile devices: engagement ads, TrueView ads, anchor ad format, and magazine style text ad format.
Engagement ads. These ads are built for brands, these rich-media (i.e., videos, photos, location-based) ads use HTML5 to automatically resize ad displays based on viewers' screen sizes. You only pay when users engage with your ad.
TrueView ads. These are video ads that run on gaming apps in the AdMob network. They give users the freedom to choose which ads they want to watch. You only pay when users watch the entire video, not when they skip the ad.
Anchor ad format. This format "anchors" your mobile Web ad at the bottom of the screen, so it stays put as users scroll up and down the Web page. Users also have the choice of closing the ad.
Magazine style text ad format. Available on the Google Display Network and AdMob, the magazine style text ad format gives advertisers a full-page ad display, much like magazine advertisements.
If you already advertise with Google, you won't have to start from scratch. The company will also roll out ad management tools, so you can easily convert your existing ad campaigns into mobile-ready ad displays. These tools include auto-resizing, Flash-to-HTML5 conversion and HTML5 in-app ad formats.
Auto-resizing tool. This tool will automatically create mobile-specific ad sizes on the Google Display Network.
Flash-to-HTML5 conversion tool. Not all mobile devices or mobile browsers support Flash — if you run interactive, Flash-only ad displays, chances are that these users never see them. Instead, the Flash-to-HTML5 tool (available on the Google Display Network and DoubleClick) automatically launches these ads in HTML5 format, so they are seen by all mobile users, regardless of their device.
HTML5/in-app ad formats. This DoubleClick tool gives you access to a collection of prebuilt rich media ad templates for HTML5 and in-app ad displays.
Igobono is a social marketplace that allows people to buy, sell and donate goods for virtual currency. Credit: igobono.com
Entrepreneurs: Max Volsky and Mike Dolan Business name: igobono Years in business: 3 Website address: www.igobono.com
The "sharing economy" seems to be everywhere nowadays. Thanks to third-party marketplaces like eBay, Craigslist and TaskRabbit, people can earn extra cash by selling their unwanted items or offering their time to perform tasks, and buyers can purchase these goods and services at a discounted rate.
But what about individuals on the lowest rungs of the economic ladder? Even at lower-than-retail prices, the fact remains that some Americans are unable to afford basic household items and services. Childhood friends Max Volsky and Mike Dolan recognized this problem and created a way to bring people into the sharing economy while empowering those who lack financial resources.
Their social marketplace, Igobono, allows members to buy, sell and donate goods and services using a virtual currency called "bonos" instead of money. This platform provides instant spending power by enabling members to begin trading immediately upon sign-up, and rewards them for good deeds such as donating items or volunteering their time.
CEO Volsky and CTO Dolan shared their inspiration for building the Igobono community, and how technology has helped them help others in need.
Igobono co-founders Mike Dolan and Max Volsky Credit: igobono.com
Business News Daily: What problem were you hoping to solve when you started your business?
Max Volsky: Igobono helps people obtain the things they need without money, giving them instant spending power, enabling them to monetize their idle assets and skills. Nearly half of all Americans are only a paycheck away from poverty, and many families simply lack money to get the basic necessities of life. Igobono provides immediate spending power and a diverse marketplace in which to get vital products and services. During our research, we learned that the average U.S. household has more than $7,000 worth of unused stuff lying around. The Igobono marketplace makes it easy to generate real value for those things, while helping people at the same time.
BND: Could your business have existed 20 years ago?
Mike Dolan: No, simply because the technology used on our platform was unavailable then. Today, we leverage many different technologies in order to provide our users the most robust and safe marketplace in which they can trade.
BND: What technologies have been the greatest help to your business?
M.D.: There have been several technologies that are instrumental to our business. Frameworks such as RoR (Ruby on Rails), HTML5, JavaScript, CSS, and APIs have enabled us to develop an extremely robust and versatile product. We leverage many cloud-based technologies to help handle the workload, which include our hosting platform, code-development repository, project management, CDN (content delivery network), DevOps management, email delivery system, notification system, collaboration and communication systems, and image and video content system.
BND: What technology can't you live without?
M.D.: Communication and collaboration tools are critical to our ability to manage and develop a business that connects people in remote locations. Without these cloud-based technologies, the ability for us to deliver this platform to our users would be exponentially harder to execute. We would have had to hire additional resources, including coders, to develop all these platforms, which would be an unmanageable amount of cost and time. Finding a solution that is cloud-based is the most time- and cost-effective way we can manage a complex product.
BND: If you could hire one extra employee right now, what would you have that person do?
M.V.: If I could hire one extra employee right now, I would love to expand our customer experience team. As a trading site, we must offer the most rewarding trading experience, which requires that we address our members' questions as quickly as possible.
BND: What technology do you wish existed that doesn't?
M.D.: At the top of my wish list would be true voice interaction with computers and devices. Originally, it was Apple's Siri, then Google Now, then Microsoft Cortana — an iterative improvement, but there is still more work to be done. To take full advantage of a system, you are tied to using their platform. Open source needs to advance with voice in a similar fashion as it did for data and coding, and allow laymen to build their own set of voice tools to help optimize the user experience.
BND: Where do you see technology in your industry going over the next 3 to 5 years?
M.D.: In the next several years, I see the convergence of traditional web- and device-enabled platforms such as iPhones and iPads merging, but not until we have cracked true voice interaction. For example, it is much more difficult to buy a product on your new watch versus sitting at a computer with a giant screen. The only way this convergence will really take off is when we reach the point where we can speak aloud, and a computer or device will understand normal human language and respond accordingly.
BND: What are the most valuable non-tech skills an entrepreneur needs?
M.V.: Successful entrepreneurs require three valuable soft skills: focus, tenacity and talent. When working at a startup, there are so many things that need to get done that it is natural to lose track and feel overwhelmed. Too many budding innovators think they can become the next Zuckerberg overnight, but the level of commitment to achieve that result is so extreme, that most rational people logically choose an easier, more direct path. At a startup, unparalleled focus and tenacity is at the core of everything. If you are focused, tenacity will guide the way. Do not take "no" for an answer. Believe that something can be done that has never been done before. Also, when working so intensely and for so long on a vision to become a reality, one may lose perspective of time and external commitments. Although working in the weeds is essential to accomplish the task at hand, it's also critical to be able to bounce ideas off of trusted advisers, especially as a reminder to always keep the customer experience top-of-mind.
Millennials have become known for their desire for instant gratification. This is especially true in their careers: Instead of waiting around for that big promotion, young professionals are increasingly choosing to create their own executive positions by becoming entrepreneurs. While they may have the requisite passion and drive, Gen Y's age and lack of experience may mean they require a little more guidance in the leadership department. Ten business leaders, many of whom founded companies or rose to leadership positions at a young age, offered their words of wisdom for today's generation of entrepreneurs.
Work hard to get ahead. "I have learned that success may come as a result of two things. One is luck and one is hard work. I chose the latter. Hard work and self-discipline are a common denominator between most business leaders, which proves that when you think you are working too hard, you are probably right, but it is also the reason you are where you are." – Amit Kleinberger, CEO of Menchie's frozen yogurt franchise
Strive for success, but remain humble. "First and foremost, any young founder must have an insatiable hunger for success and winning — and be resolutely prepared to work your a** off, as your competition most certainly will. Most importantly, stay humble and listen. Your team absolutely needs to understand that you're predictably calm and composed for them to flourish." – Jon Sebastiani, founder and CEO of Krave Jerky
Allow your "great idea" to evolve and change. "Your idea is a great one, but on the road to fruition, understand that it will look very different eventually. It won't resemble your first concept, nor the second version, but the third, after tons of listening and learning — that's where success will come." – Shawn Mendel, founder of Funley's Delicious healthy snack line
Acknowledge your own shortcomings. "Know what your weakness is and hire people around it. The best trait in any leader is to be able to admit their weakest points and build a team to complement it." – Ashley Morris, CEO of Capriotti's Sandwich Shop franchise
Hire (and promote) the right people. "Hire the best, most talented, most knowledgeable people you can get to be a part of your senior management team early as you can. Give them equity to keep them motivated. Steve Jobs mentions something about a small team of A+ players being able to run circles around a large team of B and C players. I see that every day. The entrepreneurs [who] hire A players early and get rid of C players early, move faster and more profitably than anyone else." – Scott Jensen, co-founder of Rhythm Superfoods
Ask for help when you need it. "When you're young you have boundless energy and want to do everything yourself, but don't let your early success turn into an early burn out. Sometimes you will have to hire people older than you with more experience and take their advice, because there are times that you may not know best. And there are times you will. Know how to tell the difference, and know when it's time to ask for help." – Jeff Platt, founder and CEO of Sky Zone indoor trampoline park
Seek out a mentor. "As entrepreneurs we allow our ideas to rule our decision making and often throw analysis and planning out the window. A good mentor will help you think about things you have no experience with." – Jeff Salter, founder of Caring Senior Service franchise
Don't make promises you can't keep. "Your word is everything. If you say you are going to do something, do it. Whether it is a volunteer opportunity or your job, always follow through. [But] it is important to know when to say no. Say, 'I can't do that, but this is what I can do.' Offer what you can, without committing to something you are going to drop the ball on." – Lais Pontes, president and founder of The Pontes Group PR and marketing firm
Always challenge and encourage yourself. "Young leaders must aspire to continually challenge themselves and focus efforts on improving their strengths as much as their weaknesses. You can be supported by the biggest team and staff, but sometimes as a leader it can be lonely. Those are the times you should find the drive and encouragement within yourself." – David Norsoph, owner and founder of Norsoph, Alcalay & Orner LLP (NAO Law)
Earn your team's respect. "Being a leader means being in command of yourself and your peers. Without either there is no balance. Show compassion and earn the respect of others. Learn to listen and guide." – Michael Kuang, owner and founder of Syphon Fitness
While email remains king in the types of digital marketing businesses find successful, other tactics are quickly closing the gap, new research finds.
Specifically, 54 percent of businesses view email as the most effective form of Internet marketing, according to a study from the marketing research firm Ascend2. However, a number of other types of digital marketing tactics aren't far behind.
More than 40 percent of the businesses surveyed believe optimized websites and blogs, search engine optimization (SEO) and social media are among the most successful online marketing tactics.
Mobile marketing and e-commerce marketing are viewed as the least effective forms, according to the study.
Contributing to email marketing's success is the ease in which it is conducted, the researchers found. Just 11 percent of the businesses surveyed thought email was one of the most difficult types of digital marketing to execute. Social media tops the list, with nearly 50 percent of businesses saying it was the hardest to accomplish.
Content marketing and SEO were among the other toughest tactics to execute.
Overall, the vast majority of businesses using some form of digital marketing report seeing positive results from it.
"Nearly nine out of ten companies rate digital marketing successful to some extent, with more than a quarter achieving 'very successful' results,'" the study's authors wrote.
Businesses have a wide range of motives for using Internet marketing. Wanting to increase customer engagement, sales revenue, leads for their sales teams and brand awareness were the most important reasons.
"Reducing marketing and customer service costs are surprisingly least important," researchers wrote.
The study revealed that the majority of the businesses believe their digital marketing efforts are only getting better. More than 70 percent of the business surveyed said the effectiveness of their digital marketing continues to improve, with just 4 percent saying it's getting worse.
In order to achieve all of their goals, there are a number of challenges businesses are facing.
"The most challenging obstacle to success is clearly the lack of an effective digital marketing strategy, followed by an inadequate budget to fund programs," the study's authors wrote.
Among the other challenges business must overcome to achieve better digital marketing results include a lack of training and expertise, an inability to prove a return on investment and increasing competition.
The study was based on surveys of 333 marketing, sales and business professionals from around the world.
Let's face it: Business meetings are boring. Nobody likes going to them, and you rarely accomplish everything you want to do in the allotted time. Even if you have a strict agenda, it's still unlikely that everyone will be focused — a recent survey by cloud-based presentation platform Prezi found that 46 percent of American workers admit to texting, checking email or social media, browsing the Web, or even falling asleep during a co-worker's presentation.
Why are business meetings so detested across the board? More often than not, it's the way the meeting is run. According to the Prezi survey, which was conducted in collaboration with the Harris Poll and business coach Carmine Gallo, 63 percent of presenters know that slideshow presentations — arguably the most common format for business meetings — can be ineffective and boring to their audience, and yet they continue to throw together slide decks and take a haphazard, unprepared approach when it's time to stand up and present.
"Part of the reason people aren't paying attention is related to presenters 'winging it' and not taking the time to make their content relevant for their audience," said Peter Arvai, CEO of Prezi. "Thinking through the presentation beforehand enables you to connect the dots and make sure the presentation is as succinct as possible."
"People who host meetings don't spend enough time up front preparing," added Larry Dorie, CEO of Web conferencing solutions provider RHUB Communications. "When you schedule the meeting and send the agenda, you have to provide a guideline of what people should contribute [and the desired] outcome. If people know what's expected of them when they come to a meeting, it'll be more productive."
Pre-meeting preparation also includes ensuring that your team agrees upon the ideas and topics to be discussed before anyone walks through the door.
"Collaborating in advance brings a spirit of cooperation to a meeting," Dorie said. "If people have spent time [beforehand] vetting ideas and needs, there's less contention in the meeting. It makes it more efficient."
But thoroughly preparing for a meeting is only half the battle. The other challenge lies in keeping people focused once the meeting begins.
"Meetings that are too long challenge people's ability to stay engaged," said Joel Levitt, president of management consulting firm Springfield Resources and author of "10 Minutes a Week to Great Meetings" (CreateSpace Independent Publishing Platform, 2013). "Straying too far from the agenda will cause attentions to wander. Exercise leadership by stopping people who repeat themselves, wander, talk about other things or are rude or disruptive."
Making your meeting more conversational by asking for feedback on subjects you know your audience cares about can also lead to better engagement, if you stay on-topic.
"People are programmed to engage, not only to listen," Arzai told Business News Daily. "An overly long data list and bullet point-heavy presentation will put an audience to sleep and will be hard for everyone to get through. Instead, create an overarching story and a few main points that back it up. Be attuned to your audience's responses and adjust your presentation accordingly."
When you decide to make changes or adjustments to your meeting strategies, Levitt advised observing the impact of those changes to learn what's working and what isn't so you can focus on the most effective tactics.
Business meetings are sometimes necessary, and following the above advice can certainly help make them more productive. But the right work environment and attitude may actually allow you to accomplish more by not having meetings at all.
"Meetings take up a lot of time, and many topics that might be discussed in a meeting could instead be handled with quick one-on-one conversations," said Zach Supalla, founder and CEO of open-source IoT toolkit Spark. "By creating a culture where people feel empowered to make their own decisions, you can dramatically reduce the overhead on the team and increase what you and your team can get done."
Will the full-screen "modern" Start menu return for Windows 9? Credit: Microsoft
A new, more business-friendly Windows operating system is expected to be unveiled next week. The so-called Windows 9 platform — also known by its code name, Threshold — is said to restore a number of key interface elements that were changed with the release of Windows 8. Those changes had required users to relearn how to navigate Windows, driving many businesses away in the process. But rumors say that Microsoft may be out to reclaim the work space with a revamped version of Windows designed to appeal to business users. The tech giant is set to unveil the new platform at a special event Tuesday, Oct. 30. In the meantime, read on for five highly anticipated, but still only rumored, features that could make the platform better for work.
The Start menu returns
One of the biggest changes Microsoft made in Windows 8 was the complete removal of the familiar desktop Start menu, which is used in all other versions of Windows to find and launch programs. Instead, the OS update introduced the so-called "modern" Start menu, a full-screen interface that let you launch programs by clicking on colorful tiles. But abruptly switching between the standard Windows desktop and the new Start screen can be confusing, leaving many businesses wary of adopting Windows 8.
Now reports say that the traditional Start menu will return for Windows 9, which will let you launch programs without dragging you away from the desktop. That will mark the return of a more familiar Windows interface, and help business users stay focused on the task at hand when launching secondary applications.
Cortana on the desktop
If you've ever heard of Siri on the iPhone, Cortana should be easy to wrap your head around. It's essentially a voice-activated assistant that can let you perform all sorts of actions totally hands free. Cortana debuted this year on Windows Phone 8.1 smartphones, and now reports say that the feature is coming to the Windows 9 desktop.
On Windows Phone, Cortana enables a slew of handy voice commands. When you launch the app in Windows 9, reportedly by clicking a dedicated button on the taskbar, you'll likely hear a voice command prompt. From there, it's possible you'll be able to issue a voice command such as, "Remind me to call Cindy tomorrow at 2 p.m.," to receive an automated alert when the time comes. Cortana also lets you take a note, pull up the weather forecast, or set quiet hours so incoming emails and other tasks won't interrupt you. The feature will likely use your computer's built-in microphone to listen for commands, with the option to type out commands as well. Cortana can also push notifications to you, including alerts about upcoming calendar appointment or flight delays for business trips.
Mobile continuity
Apple fans have long enjoyed effortless continuity between their smartphones and desktop computers. That's because email, messages, calendar appointments and more are automatically synced across iPhones and Mac computers. Now Microsoft might be set to deliver similar functionality with Windows 9. Reports suggest that the company will try to unify the Windows 9 OS with the Windows Phone platform, including a single app store for smartphone and PC apps. The full extent of this mobile-to-desktop continuity isn't yet known, however.
For instance, Apple will introduce new ways to connect your iPhone or iPad to your Mac computer with the launch of OS X Yosemite, a new version of the company's desktop operating system that's coming this fall. The update will let you start working on an email or document in one device and pick up where you left off on another device, with one tap. Could that kind of functionality be coming to Windows 9?
Context-sensitive interface
The traditional Start menu may be set for a comeback, but that doesn't mean that the modern Start menu is gone for good. Instead, reports show that Windows 9 will default to different menus depending on whether you're using a desktop or mobile device. When you're at work on a Windows 9 computer, clicking the Start button might display the classic Start menu, and when you're using a touch-screen tablet, clicking the button might take you to the full-screen modern Start menu, which features bigger buttons and quick access to touch-optimized apps.
In fact, touch-based modern apps might be integrated directly into the classic Start menu as well. Leaked screen shots show those apps appear alongside traditional Windows programs in the desktop Start menu. In other words, Windows 9 looks set to streamline the user experience into a single unified setting, instead of running some apps on the desktop and some inside the modern interface like in Windows 8. That could really cut down on the confusion for new users.
Virtual desktop support
Other reports indicate that Windows 9 will bring virtual desktops to the platform for the first time. The virtual desktop is an organization tool available on Mac computers, which lets you create multiple active desktops for different tasks, then toggle among them with a mouse click. That lets you quickly switch among groups of open programs, allowing you to complete different tasks without cluttering up your taskbar. You can get virtual desktops on other versions of Windows by installing a third-party program, but Windows 9 could make this a native feature.
Despite this universal tenet of customer service, the truth is, making customers happy is not the result of a one-size-fits-all approach. This doesn't just mean treating each customer in a personalized, attentive way — it means that, depending on the type of business you are, you may need to rethink your entire strategy for dealing with customers.
Over the course of his career, Harry Bunn, president and CEO of marketing, consulting and research firm Ronin Corp. and author of "Customer Experience: It's Not That Easy" (Ronin Corp., 2014), has learned that business-to-business (B2B) companies serve a customer base with a unique set of needs, and therefore can't look at that customer base the same way a business-to-consumer (B2C) company might.
"In a B2C environment, there is typically one individual customer," Bunn said. "In B2B, there are a range of individuals who are important — the decision-maker, individuals who provide technical advice, the purchasing department, finance, legal and the end users. Customer service [representatives in B2B companies] must understand these roles and provide value to each."
In his book, Bunn says that B2B companies often think of customer satisfaction as a "measurement exercise," a simple scorecard approach that fails to take a B2B client's full experience into account. Adopting a holistic customer experience program is more complex and difficult for a B2B firm than a B2C company, but it's essential to creating sustainable competitive differentiation, Bunn said.
"A common mistake is addressing only the measurement aspect [of customer satisfaction]," he told Business News Daily. "A scorecard has value, but there are other aspects [that] provide significantly higher value."
Bunn said that B2B companies can create a better customer experience by following these three steps:
Creating a customer-centric culture. Does your company have the right culture and top level commitment to implement and run with a customer-oriented strategy? If not, the program needs to be adjusted to match the reality.When developing strategy, Bunn advised continually asking the question, "How does this make customer service better?"
Use your metrics to take action. So, you've received feedback from your customers. What do you do with that information? Identify problem areas and figure out how to help your customers.
"Take action with individual customers, particularly the most important ones, for problems unique to them, e.g., 'I do not like my sales rep,'" Bunn said. "[You should] also address systemic issues, such as, 'delivery is twice as long as for competitors.'"
Provide feedback following the action. A truly customer-centric approach to service is one where you can demonstrate that you've listened and acted or plan to act on the issues customers have brought to you. This is especially important in B2B, where you need to keep multiple point-people happy for each individual account. Once you've figured out what to do with your customers' feedback, Bunn recommended continuing the feedback loop by informing customers of what you did or will do about it.
Before you overhaul your approach to customer service, don't forget to map it out to make sure you can execute your plans efficiently and well.
"Follow a roadmap focusing on a pilot program," Bunn said. "[This] can show the benefits before you roll out a full program which might be suboptimal or even fail."
CRM helps businesses keep customers, find prospects and increase sales. Credit: Growth image via Shutterstock
Customer relationship management (CRM) is an invaluable tool that lets businesses find, manage and keep customers. By organizing prospects and current customers in a centralized platform, CRM gives businesses a bird's-eye view of their pipeline, allowing them to streamline processes, deliver stellar customer service and increase sales. Finding the right CRM solution, however, can be a challenge for small businesses. Because many CRM services are created for large enterprises, they aren't just expensive, but are also too technically complex for small business users. Instead, here are five CRM solutions that are affordable, easy to use and specifically designed to fulfill small business needs.
1. Yesware
Yesware helps businesses build better relationships and increase sales by tracking and analyzing customer emails. Features include alerts when emails are opened, notifications when links are clicked, custom email templates to better increase conversions, follow-up reminders and analytics to figure out what works and what doesn't. Yesware is available for Gmail and Outlook, as well as Firefox and Chrome extensions. The platform is also now available on iOS with Yesware Mobile. In addition to Yesware's email tracking capabilities, the Yesware Mobile app also comes with a click-to-call feature, so you can easily contact prospects from your mobile phone immediately after they open an email. Yesware starts at $10 per month; a free version is also available, but is limited to 100 tracking events per month.
2. Tactile
Tactile is all about simplifying CRM by integrating its Web-based contact and sales management system with the rest of your tech ecosystem. This allows businesses to easily access and share customer information from multiple sources in a centralized location. In addition to letting you easily manage sales pipelines, notes, emails and other sales activities, Tactile works seamlessly with tools most businesses already use. This includes invoicing tool FreshBooks, mailing list management tool Campaign Monitor and customer support system ZenDesk, as well as Google Apps, ShoeBoxed and Cloud Contacts. Tactile CRM is free to use and does not require a credit card to sign up.
3. Insightly
Insightly is a comprehensive online CRM software that has everything a small business needs to keep an eye on their customers and the entire business. Users can manage everything from contacts to projects and workflows, as well as create real-time opportunity reports, automate activities and track milestones. Insightly also integrates with social media — just plug in a contact's email address and it will find virtually all social media accounts under that email address — and popular business apps like Google Apps, Office 365, MailChimp, Evernote and more. The full version of Insightly starts at $7 per user per month. A free version is also available, but is limited to 2,500 records and three users.
4. SugarCRM for Small Business
SugarCRM aims to let businesses create personal, one-to-one connections with customers. It provides a 360 view of customers, which includes individual histories, key contacts and account intelligence to gain a better understanding of who customers and prospects are and what they are looking for. Other features include sales automation and forecasting, support automation, reporting tools and mobile access. Businesses also have a choice of whether they wish to deploy the service on-premise or on the cloud. SugarCRM starts at $35 per user per month.
5. Salesforce Small Business Solutions
Popular enterprise CRM software Salesforce now offers big business capabilities at a small business scale and price tag. Its features include complete contact management to help the business grow by tracking tasks, deals and opportunities; real-time collaboration; automation to improve business processes; and integration with apps like Outlook, Desk.com, iContact, Box and more. Salesforce also aims to help businesses create better customer experiences with customizable ordering systems (for instance, via mobile app), individual customer case management, up-to-date interaction histories and ticket support systems. Salesforce starts at $25 per user per month.
6. Batchbook
If you need a CRM solution without all the frills, Batchbook offers a simple CRM platform packed with all the necessary features to get organized and close more sales. In addition to keeping track of deals, projects and workflows, users can build to-do lists, create customer groups with action items, collaborate with team members, set up text and email reminders, and more. Batchbook also aims to make getting started a breeze — simply drag-and-drop a CSV spreadsheet or vCard files of your customers and the software will automatically create individual, data-rich contact profiles. For added capabilities, Batchbook integrates with popular business apps and social networks such as Eventbrite, Mailchimp, Intuit, Google, Hootsuite, Twitter, Facebook and LinkedIn. Unlike most CRM services that charge a per-user fee, Batchbook starts with a flat fee of $35 a month for your entire team.
7. ContactMe
ContactMe is another simple CRM solution that makes it easy to find and keep track of customers. It lets users organize contacts, leads and customers in one place, and attach any notes, emails, files and other associated information to individual contact profiles. ContactMe also helps sales teams stay on top of appointments, meetings and deadlines with calendar tools and reminders. Other features include button and form creation — which can be added to your website, Facebook page and other Web properties to generate leads — and data syncing with Facebook, Constant Contact, MailChimp, Wordpress and other marketing tools. ContactMe is free to use for individual users. A full-featured account costs $7.42 per month.
Do you watch "Shark Tank"? The hit ABC reality show gives entrepreneurs the chance to pitch their businesses to famous investors, or "sharks," like QVC-TV star Lori Greiner and Dallas Mavericks owner Mark Cuban, in the hopes of making a deal.
With the premiere of the show's newest season airing tonight (Sept. 26 at 8 p.m. EST), a whole new crop of entrepreneurs will enter the shark tank. But the real question is: What would you do if you were in their shoes? We asked investors and entrepreneurs for their best advice for businesses seeking investments.
These tips should make it easier for you to swim with the sharks:
Make sure it's what you want
Make sure you want other people's money and interests mingling with your business. Taking on investors means giving away control and potential profit. Investor relationships can be very beneficial to the entrepreneur, but they also take time and management. Some investors are very hands off and make themselves available when your team needs them. Others will want to be in the mix with you, and your job is to diplomatically field their emails and phone calls. —Kelly Trumphour, founder, See Jane Invest
Don't over- (or under-) value your business
Understand your worth. As a new business owner, you are not worth more than $75,000 your first year. If I'm looking through your financials, and you're paying yourself more, you're mismanaging funds. Yes, you're working hard and many hours, and paying yourself first is important, but until your business is financially stable, you can't afford to make more. — Nicole L. Royer, entrepreneurial coach
Have a positive attitude
Be happy and hire happy people. Any investor will want to know that, A) you're passionate and motivated, and B) you've surrounded yourself with people who are, too. [Hire] happy people at every level, from truck team members to corporate staff. A positive team means a motivated and ambitious team that will help drive success. — Brian Scudamore, founder and CEO, 1-800-GOT-JUNK?
Try to keep your equity
Exhaust all sources of funds before giving away equity. It may seem like equity is cheaper — there is no interest, right? But you will pay your equity partners forever. While debt may seem riskier, if you believe in your business, you should take on as much debt as you can stomach before giving away any equity. — Ian Jackson, managing partner, Enshored
Gain traction first
If you already have a working product, obtain and showcase as much traction as you possibly can. In the investment world, traction is the magic word. Traction can be many things. It can be registered users, paying customers, press articles, having a large audience, letters of intention, partnerships or even a very small group of people who couldn't live without what you are offering. Traction is the most effective way to prove that your solution creates interest and is monetizable. — David Arnoux, co-founder and head of growth, Twoodo
Test your product
Do test your product at the POC (proof of concept) level with a few test customers through a Joint Development Program. This helps to create faith in investors that there is demand and also helps you build a product that will see quick adoption from the market. — Dr. Som Singh, founder, Unspun Consulting Group
Discuss demand
It is really important to articulate that the product or service that you are pitching is solving an actual need. Many times, entrepreneurs immediately start to explain their ideas, technologies, or approach to delivering better or more efficient service to the market. They gloss over whether or not there is an actual need in the marketplace for what their company is offering. — Charlie Haray, venture capitalist and professor of entrepreneurship, Syms School of Business
Work hard
Be prepared to work super overtime, break the results down into specific foreseeable levels and not stop until you can provide clear results on every level for all interested parties. Easier said than done, but after it's done, you'll make it look easy. — Stephanie Adams-Nicolai, founder and CEO, GODDESSY Organics
Control your risk
Determine what percentage of your account that you want to invest on any given trade. [If you were to] divide your portfolio into slices of pie, make sure to have a large portion left if an investment goes against you. It doesn't make sense to over-allocate or use leverage if the negative consequences are catastrophic to your account. Many professionals never risk more than 3 to 5 percent of their account, so when they are incorrect, in excess of 95 percent of the account is intact. — Alan Knuckman, chief options strategist, Barchart.com
Research the competition
Know your competition inside and out. Know their strengths and weaknesses, know who the main game players are, know everything. Always be ready for a plan of attack when things don't go your way. — Michael Bolger, co-founder and CEO, hovelstay.com
Come prepared
Be very prepared to answer every single question an investor might have. That will show that you have done your homework and thought everything through. If you hesitate, it will give your investor a chance to hesitate to invest [in] or fund you. — Jenny Feterovich, co-founder, Parliament Studios
Think long term
Think through the trajectory of your business. Investors want to know that you have thought about your future and that their investment will have a long-term positive impact. — Shemiah Williams, president, Modern Graffiti Marketing Group
Learn from negative feedback
The prevailing advice is to ignore [naysayers]. Not so. Their negative comments should help guide your homework, the goal being to know more than the naysayers and to possibly overwhelm their stuck-in-a-rut adherence to the past, enabling out-of-the-box reinvention. — Lloyd Shefsky, author and clinical professor of entrepreneurship, Kellogg School of Management
Be honest
Always be upfront and truthful about anything in your past — the good, the bad, the ugly. If you think it is irrelevant or will not be discovered, you will get burned. Nothing is worse than the cover-up. Investors will appreciate your candid recap of events (whatever they may be) and will respond accordingly. If something is uncovered that you did not disclose, the lie or lack of disclosure about the incident is worse than the incident itself. — Ken Springer, president, Corporate Resolutions
Go all in
Really believe in yourself. Every entrepreneur will say they believe in [themselves]. … But ask this: Are you willing to get a second mortgage on your house to fund your venture? Are you willing to cash in your 401k or live on credit cards? Yes? Then you truly believe in yourself and your venture, and I will believe, too. No? Then I'm not about to cut you a check. If you're not willing to go all in, it's a hobby with a safety net, not a business. — Bill Balderaz, angel investor and president, Fathom Healthcare
Try networking
Attend events where you meet potential investors such as Global Entrepreneur Week and the Hatchery's Hatch Match. These are ideal events to network and present your business and ideas. — Ian Aronovich, president and co-founder, GovernmentAuctions.org
Split your funding
Split investments between now money and strategic money. Why? Now money allows you to keep the momentum going strong, while strategic money allows you to take your business to the next level. — Brian J. Marvin, co-founder, Bringhub
Ask your family
Raise money first from family and friends. Odds are that none of them want to give you money, but you've got to try. If your business idea can't raise money from people who know you and trust you, you're going to have an even harder time raising money from strangers. — Mark LoCastro, co-founder and CEO, DealNews
Explore your options
Understand all your funding options before going to market. [The] sort of assets underlying the business, where it is in terms of lifecycle, etc. will have a huge impact on what sort of investors would be attracted to the business and, just as importantly, what sort of terms you'll have to give on. Many people seem to have difficulty effectively fundraising, in no small part because they are talking to the wrong sort of investors. — Colin Darretta, founder, WellPath Solutions
Wait until it's finalized
Never consider the investment a done deal until the deal is actually completed. So many times, a business owner thinks they have a deal and then makes decisions based on that deal being consummated. When it doesn't happen, or the investor drags their feet, the results can be disastrous. — Bill Watson, founder and director, Advanced Business Group
Apple's big new iPhone 6 Plus is the longest-lasting iPhone yet. Credit: Apple
These days, smartphones pack superfast processors, big displays and even fingerprint scanners. But all the features in the world won't help you when your phone runs out of juice. That's why long battery life is such an important feature for business users who rely on mobile devices to get them through the end of the workday. Before you buy your next business smartphone, read on for eight phones that balance useful features with impressive battery life.
Note: Numbers represent battery life with continuous Web browsing over Wi-Fi.
Huawei Ascend Mate 2
BUY Huawei Ascend Mate 2 >>> Credit: Huawei
Battery life: 14 hours and 45 minutes
This huge phone comes with a sizeable battery life to match. The Huawei Ascend Mate 2 lasted an incredible 14 hours and 45 minutes with continuous use. The Ascend Mate 2's battery is so beefy that Huawei even lets you use the phone as a recharging station for your other mobile devices. Just connect a smartphone, tablet or notebook to the phone via a USB cable so you can refuel a second device on the go. Meanwhile, its enormous, 6.1-inch (15.5 cm) screen is another potential perk for business users — if you can handle the extra bulk. The large display gives you plenty of room to work, but it also makes the phone less portable and harder to use with one hand.
4G LTE capable
Expandable memory
Long battery life
OnePlus One
BUY OnePlus One>>> Credit: OnePlus
Battery life: 13 hours and 15 minutes
The OnePlus One is a great 5-inch (12.7 cm) business phone with high-end hardware, great software features, and an eye-popping 13 hours and 15 minutes of battery life. OnePlus doesn't have the name recognition of major manufacturers such as Samsung or Apple, but the company's flagship phone has the specs to match up to the Galaxy S5 and iPhone 5s. The OnePlus One also includes useful security features, such as Privacy Guard, which lets you block individual apps from accessing personal information stored on your device, plus built-in encryption for text messaging. It's not available through major carriers like AT&T or Verizon, but even though you'll pay more up-front for the device than you would for a subsidized smartphone, you won't be locked into a pricey two-year contract.
4G LTE capable
Budget friendly
Long battery life
Security features
Nokia Lumia 1520
BUY Nokia Lumia 1520 >>> Credit: Nokia
Battery life: 11 hours and 30 minutes
Nokia's huge Lumia 1520 might be the longest-lasting smartphone not powered by Android, running for about 11 hours and 30 minutes in tests. Longevity aside, this Windows 8.1 phone offers a huge, 6-inch (15.2 centimeters) screen and fast performance. It runs the latest version of the Windows Phone operating system, which includes plenty of productivity-boosting features. For instance, a new notification hub lets you view all your alerts in a single location. It also adds Cortana, a voice-activated digital assistant that lets you perform hands-free actions, such as saving a note or performing a Web search.
Expandable memory
Long battery life
Security features
Productivity app selection
LG G Flex
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Battery life: 11 hours and 30 minutes
An unusual, curved display isn't the only feature that makes the LG G Flex stand out. It also boasts a huge battery that lasts for about 11 hours and 30 minutes on a single charge. Additionally, the Flex packs a speedy processor, lots of internal storage and 2GB of memory to make multitasking snappy. And the phone's curved design might actually make it more functional, since it lets you reach across the huge, 6-inch display more easily when you're using the device with one hand. The curve also improves the quality of phone calls, since it brings the phone's speaker closer to your ear and the microphone closer to your mouth.
4G LTE capable
Multitasking friendly
Long battery life
Samsung Galaxy Note 3
BUY Samsung Galaxy Note 3 >>> Credit: Samsung
Battery life: 11 hours and 15 minutes
Samsung's Galaxy Note 3 is nearly a year old, but the flagship phablet is still one of the best business phones money can buy. Its great battery life — about 11 hours and 15 minutes per charge — is only part of the story. The Note 3 gets its name from its note-taking capabilities; it includes a stylus that lets you take notes and draw diagrams on the Note 3's large, 5.7-inch (14.5 cm) screen. Another key feature is Multi Window mode, a multitasking feature that lets you run two apps at once in a split-screen view. That can come in handy when you want to use the calculator or perform a Web search while viewing your email inbox, for example. However, patient business users might want to wait for the upcoming Galaxy Note 4, which will hit store shelves in October.
Stylus equipped
4G LTE capable
Expandable memory
Removable battery
Multitasking friendly
Long battery life
Security features
Samsung Galaxy S5
BUY Samsung Galaxy S5 >>> Credit: Samsung
Battery life: 10 hours and 50 minutes
Samsung's flagship smartphone, the Galaxy S5, packs powerful hardware and great security features for business users. It also gives you good longevity for a 5.1-inch smartphone, lasting about 10 hours and 50 minutes with continuous use. The Galaxy S5's super-sharp display is bright and colorful, and its powerful quad-core processor delivers fast performance. In addition, the fingerprint scanner embedded in the phone's home button lets you lock and unlock your device without fussing with passwords or lock screens. Plus, Samsung's Knox security suite gives you even more protection by letting you run apps under a secure profile, ensuring rogue applications can't access your data.
4G LTE capable
Expandable memory
Removable battery
Multitasking friendly
Long battery life
Security features
iPhone 6 Plus
Apple's big new iPhone 6 Plus is the longest-lasting iPhone yet. Credit: Apple
Battery life: 10 hours
Apple's first phablet packs a bigger battery than other iPhones. The iPhone 6 Plus' beefy battery delivered about 10 hours of battery life with continuous use. And longer battery life isn't the only thing the big new iPhone has to offer business users. Compared to other models, the large, 5.5-inch (14 cm) display gives you tons of room to work. The larger screen also allows for "dual-pane mode" in certain apps, such as Mail and Messages. When you're holding your phone sideways, this mode shows a persistent navigation pane on the left side of your screen, letting you easily move between conversations without tapping through hidden menus; smaller iPhones don't have room for the second pane. Plus, the iPhone 6 includes the usual updates you'd expect from a new generation of iPhones, including a faster processor and tons of software updates.
4G LTE capable
Long battery life
Security features
Coming soon
HTC One M8
BUY HTC One M8 >>> Credit: HTC
Battery life: 9 hours and 50 minutes
With an all-metal body and sleek curves, the HTC One M8 might be the sexiest business phone you can buy. Long battery life makes it ever-more appealing: It lasts for about 9 hours and 50 minutes with continuous use. Performance-picky users will like that the One M8 is one of the fastest smartphones currently available. It also includes handy features like Motion Launch, which lets you activate the display quickly by tapping it twice, even when the screen is turned off. The metal design of the phone makes it a bit heftier than the competitors, but that's a fair trade-off for a smartphone that looks and feels as good as the One M8.
