small business connections: marketing meets microfinancing-chicago
DESCRIPTION
Yelp and Accion have teamed up with the NYSE Big Start-Up to host a series of free workshops that provide small business owners across the U.S. with resources to help finance their entrepreneurial dreams and increase their online marketing power by learning best practices for engaging with online review sites. This presentation was delivered by Yelp and Accion staff members to over 45 business owners in Chicago on September 18, at 21 E Chestnut St, Chicago, IL 60611.TRANSCRIPT
Small Business Connections: Social Media & the World of Online Reviews
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Darnell Holloway Manager of Business Outreach @darnelljustin #NYSEBigStartUp
The Social Media Landscape
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• Why is it important to have a strong online presence?
• What are the basics you should know about each major social media platform?
• How can you engage with existing customers and attract new business?
Now more than ever, consumers rely on online reviews
Source: Search Engine Land Local Consumer Review Survey (2012)
85% of Consumers Use The Internet to Find Local Businesses
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LinkedIn is B2B Social Networking
Marketing Your Professional Skills
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Connecting With Other Professionals
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A Few Success Stories
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Twitter is Micro Blogging
The Sprinkles Example
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Aggregate Your Information
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Facebook Emphasizes Social Connections
Create a Facebook Page for Your Business
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Food Porn
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Demographic Information
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Yelp is Transactional Social Media
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Yelp by the Numbers
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• Yelp mobile app is used on 7.2 million unique mobile devices (Q2 2012) • Approximately 40% of all searches on
Yelp come from our mobile apps.
• Every second, a consumer generated directions to or called a business from a Yelp app. • A photo was uploaded at least every 30 seconds from the Yelp app.
Yelp Mobile
Consumers on Yelp are Affluent, Educated Adults
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Unlock Your Free Tools
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Biz.yelp.com
Claim your page here
Log in here
Understanding Yelp Metrics & Free Tools
Improve your business page. That’s FREE.
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Connect With Your Customers. It’s FREE too!
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Myth: Most Yelp Reviews are Negative
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80% of Yelp Reviews are Three Stars or Higher
Negative reviews play an important role too • A variety of experiences are consistent with real life • You can’t please 100% of your customers 100% of the time
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Quality Control: Why Some Reviews Come Down
All businesses are equal in this regard. (Advertisers & non-advertisers treated equally; filtered reviews viewable.)
Keeping Our Content Useful For Consumers
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“Yelp runs its reviews through an anti-fraud filter, with impressive results; every fake review the Texan bought was flagged by Yelp’s algorithms, though his fraudulent reviews remain up on the seven other sites.”
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Engage Diplomatically
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Don’t: Freak Out
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Case Studies in Freaking Out
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The Right Way To Do It
We Offer Paid Upgrades As Well
Removal of Competitor’s Ads
Video Player and Photo Slideshow
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Search Advertising
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Summary
1. The most successful businesses on Yelp focus on providing great
customer service, not soliciting reviews. Word of mouth will take care of
itself.
2. Don’t over-focus on any single review.
3. Start using Yelp’s FREE tools today (biz.yelp.com). Your business page will look better, and this can drive new customers.
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§ Q & A § Biz.Yelp.Com § www.yelp.com/contact
THANK YOU
BUSINESS GROWTH THROUGH MARKETING
WHO IS ACCION?
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§ We’re a nonprofit microlender dedicated to providing credit and other business services to small business owners who do not have access to traditional sources of financing
§ By encouraging the economic self-reliance of business owners,
Accion Chicago strives to help business and communities grow
ACCION IN CHICAGO
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§ Small Business Loans § Term loans ranging from $200 to $50,000, average loan size $8,000 § Loan products service start-up and existing business owners
§ Technical Assistance § Financial education through one-on-one counseling and workshops § Access to resources
§ Service Area –Entire state of Illinois and Northwest Indiana (Lake and Porter)
BUSINESSES WE SERVE
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OUR IMPACT
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§ Mission Outcomes since 1994: § More than 2,600 loans disbursed totaling over $20 million to more than
2,000 micro-entrepreneurs
§ 2011 Mission Outcomes § 2,481 different businesses served with assistance and financing or
formalized referrals to banking and technical assistance partners for financing, counseling, and other services
§ 301 loans disbursed to local small businesses § 2.5 jobs created or maintained per loan disbursed § $2,028,570 dollars disbursed § 780 business owners educated through community seminars
IS MY BUSINESS READY FOR DEBT FINANCING?
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§ Would a new mixer, computer, or vehicle help you get the job done better and faster?
§ Do you have any potential unexpected expenses? § Would you like to build your credit along with your business?
WHAT ABOUT MARKETING?
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§ Update your website, packaging, or marketing materials? § Attend a trade show, host an event? § What else?
KB FITNESS DBA SKINNY SOCIALS
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§ $12,000 Accion loan for website design and promotions (now has almost 7,000 combined followers) Build Relationships, Give Credit Find Influencers; Fans, Media, Partners Reward fans and thank promoters Participate in community events Engaged fans = Loyal Customers
VINEJOY, LLC
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§ $5,000 Accion loan for inventory § Social media for B2B’s
§ Cold calling § Building customers’ customers § Creating relatable brand
@VinejoyChicago
NEW ENGLAND SEAFOOD COMPANY
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§ $10,000 Accion loan to increase delivery and inventory capacity § Establish Reputation § Promote Expansion § Celebrate Success
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WHERE DOES MARKETING FIT IN YOUR DAILY ROUTINE?
CATERING OUT THE BOX
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GENERAL LOAN ELIGIBILITY REQUIREMENTS
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§ Operate a for-profit business § Have a clean and/or improving payment history with creditors § Pledge collateral and / or a qualified co-signer § Generate sufficient business and personal income to service new
debt
APPROVAL PROCESS
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Applicant
completes
online loan
application
Pre-
approval
issued by
Loan Officer
within 48
hours
Applicant
submits
supporting
documents
Underwriter
review
Loan
request
presented to
credit
committee
for approval
If approved,
loan closed
at our office
or partner
office
Total time: as little as 2-3 weeks from first inquiry to loan closing
HOW TO APPLY
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§ Fill out our application at www.accionchicago.org § Call Adrian or Kyle directly at 312-275-3000 for pre-qualification,
paper, or e-mail applications
UTILIZE RESOURCES TODAY!
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§ Get smart about marketing your business! § Decide how a loan will help your business grow - know specific purpose and budget § Know your credit score and keep improving it. § Meet one-on-one today with organizations that support small
business. § Become Accion Loan Ready!
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Please contact us: § Adrian Mendieta § 312-275-3000x132 § [email protected] § Kyle Johnson § 312-275-3000x133 § [email protected]
THANK YOU
Every $1M invested creates
another 1,000 jobs