Business.com

Job Growth Declines in June, Despite Wage Growth
What 'The Wizard of Oz' Can Teach Companies About CRM
7 B2B Content Marketing Ideas to Boost Brand Visibility
Want to Increase Your Email Open Rates? Write Catchy Email Subject Lines
How to Create an Engaging B2B Content Marketing Plan
The 10 Best Amazon Prime Day Deals for Small Businesses
5 Steps Toward Better Project Management
How to Determine Your Business's Worth

Job Growth Declines in June, Despite Wage Growth

Posted: 03 Jul 2019 10:50 AM PDT

Hourly earnings overall grew by 70 cents last month.
Just as in previous months, Southern states lead in employment growth, while Western states have the best hourly earnings growth.
The leisure and hospitality industry showed the biggest decline in job growth last month, dropping 0.85%.

Experts warn of an "increasingly tight labor market" as small business job growth stalls and wages continue to increase, according to the Paychex | IHS Markit Small Business Employment Watch for June.

Released each month by Paychex and IHS Markit, the Small Business Employment Watch examines employment and wage trends throughout the country. The report, drawn from payroll data collected from Paychex's roughly 350,000 clients, gives insights into economic trends at the national, regional and local levels.

Last month, the national jobs index was at 98.32, marking a 1.09% decrease over the past 12 months. James Diffley, chief regional economist at IHS Markit, said the two-yearslong slowing of small business job growth "took on a more rapid pace" in June. At the same time, wages went up another 70 cents to reach an average of $27.21.

Given the monthly report's findings for June, Martin Mucci, Paychex president and CEO, said things look like they may get better for small business workers.

"The jobs index is still reflective of employment growth, though at a slower pace than recent years," he said. "With hourly earnings growth increasing, it appears the challenging hiring environment is finally starting to push wage growth higher for small business workers."

Jobs and wages at the national and state level

According to the Small Business Employment Watch, June's national job index figure of 98.32 represents a 0.45-point drop from May. This slight decline deviates from previous monthly reports, which generally suggested that job growth had plateaued for some months. Despite ongoing trade tensions with major powers around the world, the American economy continues to be in a state of growth.

When it comes to this month's hourly wages figure, the June increase to $27.21 marks a 2.65% increase over the last 12 months and remains just barely ahead of the 2018 average increase of 2.49%. This latest bump also marks the third consecutive month that hourly earnings grew, according to officials.

The hourly earnings growth may mark an increase, but officials also pointed out that weekly earnings growth declined by 2.02% due to what officials called "a continued decrease in hours worked from a year ago."

Unlike last month's report – which saw Tennessee, Texas, Georgia and Arizona with job indexes exceeding the 100 mark – only Texas and Tennessee held on to that distinction in June. In fact, all 20 states analyzed in the Small Business Employment Watch saw a decline. Massachusetts and New Jersey were at the bottom of the list with job indexes of 97.45 and 97.01 respectively.

Earning the distinction of the fastest hourly earnings growth last month was Illinois with a 3.97% increase. Officials said that figure nearly doubles the state's mark from last June at 2.05%. The hourly earnings increase also places Illinois at the top of this month's list, with New York (3.36%) and Missouri (3.35%) taking up the next two spots. Indiana sits at the bottom of the list with just a 0.65% wage growth. The state also has the weakest weekly earnings and weekly hours worked compared to other states.

Regional and metropolitan findings

All four regions saw a slight decline in small business job growth in June, with the Northeast marking the lowest figure at 97.6. For 37 of the last 38 months, the South is the only region with a job index above the 99 mark.

The country's four regions each saw wage increases. The West continued to have the highest average hourly earnings in June at $28.73, with a 3.13% year-over-year increase (87 cents), while the Midwest's average hourly earnings rate stands at $25.79, with a 2.6% year-over-year increase (65 cents).

At the metropolitan level, Dallas continued to boast the highest jobs index with 102.63. The number marks a slight decline from May's 103.65 figure, but it remains the leader of the pack by a wide margin. Only Tampa joined Dallas in having a job index above 100. Atlanta, Denver, Phoenix and Seattle all fell below that mark after strong showings in May.

For wages, San Diego maintained its place at the top of the highest hourly earnings growth list at 4.24%. Chicago showed the second largest hourly earnings growth in June at 3.89%. Officials also noted that Riverside, California, started the year with more than 4% in hourly earnings growth, but it dropped to 2.8% in June.

Industry statistics

The Small Business Employment Watch also measured how specific industries fared. According to officials, all industry sectors examined in the monthly study showed decreases in growth last month.

Manufacturing stayed at the bottom of the list in year-to-year performance at 96.21, marking a 2.64% decrease from the previous year. The education and health services industry had the strongest one-month, three-month and 12-month growth rates among all industries. However, it also saw its hourly earnings stagnate for the entire quarter, ending up in last place at 1.29%.

Though the leisure and hospitality industry continued its hourly earnings growth trend in June at 4.7%, its job index fell by 0.85% to end up at 97.75.

What 'The Wizard of Oz' Can Teach Companies About CRM

Posted: 03 Jul 2019 09:30 AM PDT

Customer relationship management (CRM) is key to a business's success. The industry, however, is on the cusp of innovation and change, making a company's ability to keep up equally important.

CRM solutions are in transition. Whereas businesses once adopted CRMs based on industry trends, newer solutions aim to better speak to a company's customer base and give salespeople the exact tools they need to succeed. [Read related article: How to Choose the Right CRM Software]

Nikolaus Kimla, CEO and founder of Pipeliner – a CRM used by more than 600 companies worldwide and named one of the top CRMs by Baylor University's Hankamer School of Business – explained how CRM solutions have changed over the past few years.

"To utilize a somewhat tired analogy, there once was a wizard who ran the land of Oz," he said. "The wizard had the whole place convinced that he was all-knowing and all-powerful – and until a teenage girl from Kansas happened along to reveal the truth about the wizard, everyone in the land took everything he said at face value."

For decades, a similar scenario has been carrying on in the CRM industry, Kimla said. "Powerful software giants – that elsewhere had revolutionized corporate computing – developed CRM solutions that were so dazzling in their complexity and features that information technology (IT) executives came to believe they had to be the ideal solutions."

Editor's note: If you're looking for information to help you choose the CRM software that's right for you, use the questionnaire below to have our vendor partners contact you with free information.

Taking the advice of IT executives, decision-makers approved purchases of sophisticated CRM solutions and wrote them off as a cost of doing business. On the front lines, however, were salespeople who actually used the CRM software in the real world, yet had never been asked what they actually needed in such software to effectively and efficiently do their jobs, Kimla said.

"After being heavily burdened with data entry duties and creating cumbersome reports, [salespeople], of course, gave little positive feedback for these CRM applications," he said. "To them, the term 'CRM' became synonymous with drudgery – a situation that continues to this day."

It became evident that the widely accepted CRM solutions had shortcomings, leading to a new paradigm for CRM systems, one which is rapidly being adopted by forward-looking companies today, Kimla said.

"Instead of being the 'top-down' enforcement onto sales that it always has been, CRM becomes an empowerment to sales, allowing them to fully control their sales pipelines and thereby meet and exceed their quotas," he said.

This new approach to CRM doesn't just benefit salespeople, but businesses as well.

"Interestingly, when a CRM solution actually empowers sales, so does it empower the remainder of the company," he said.

In keeping up with changes in CRM and adopting new CRM solutions, Kimla said businesses should keep the following things in mind.

1. Your sales team's job is closing sales, not data entry.

Executives should empower their salespeople with a CRM solution that truly benefits sales. Traditional CRM applications make salespeople into data entry clerks, which they are clearly not. A solution such as Pipeliner CRM makes it possible for salespeople to easily and accurate manage their sales pipelines instead of simply entering data into the CRM with no return to them. Your sales team should be focused on bringing in new customers, not just logging their information. Prioritize sales results over logging customers' information.

Sales is about establishing a good customer relationship, prioritizing customer service and building a connection to provide a service where everyone wins. By giving your sales team the tools it needs to build customer service and prioritize relationship management, you're empowering them to do their jobs more effectively.

2. Find a solution that optimizes your salespeople's potential.

People who work in sales have the same qualities as entrepreneurs. They are creating their own lives and taking charge of their own income potential, and they are capable of seeing opportunity where others would not. These are the traits of entrepreneurs – the kind of people with the fortitude to strike out and make a brand-new start, those who routinely make something out of nothing.

Decision-makers should bring out their salespeople's entrepreneurial skills and motivations. If they don't view them in this light, they are not utilizing salespeople to their full potential and are effectively crippling the company. It also means that salespeople need the right CRM tools to better their situation. The relationship management and customer service tools should fit seamlessly into their routines. Don't sign up for customer relationship tools that get in the way of a salesperson's potential.

3. Value your salespeople's opinions.

Companies should welcome salespeople's input on matters that clearly affect them and their ability to make sales, including issues such as marketing campaigns and even product development. Salespeople know the company's prospects and customers better than anyone else. They possess a wealth of information usually left untapped – to the company's considerable detriment. By checking in with your team, discussing relationship management and other aspects of the customer relationship, you'll keep an avenue of communication open to glean important insights on not only your sales process, but your business.

Your sales team is on the front lines of finding the right customers for your business. By constantly asking for their feedback on technology solutions, the sales pipeline and customer relationship management, you can find out the best way to improve your business.

Additional reporting by Sara Angeles. Interviews were conducted for a previous version of this article.

7 B2B Content Marketing Ideas to Boost Brand Visibility

Posted: 03 Jul 2019 09:30 AM PDT

Creating great content is a critical aspect of content marketing (hence the name), but it doesn't do you any good if no one ever sees it. Cutting through the clutter to grab the attention of your target audience is harder than ever, but the success of your content marketing strategy depends on your promotional efforts. A truly effective content marketing approach marries the creation of relevant content with a marketing campaign; your content should not just live in a vacuum.

Just how important is content marketing? Whether your brand is focused on B2B or B2C, content creation is key. According to the Content Marketing Institute (CMI), 91% of B2B marketing efforts include a content marketing campaign. For B2C companies, 86% of marketers believe that content marketing is an important aspect of building brands.

Cleary, content marketing is an essential part of promoting brand awareness and engagement. However, not all content is created equal. These strategies will help you create excellent content and promote it to your target audience. When done correctly, content marketing can become a central pillar of your larger digital marketing strategy, helping you to reach more potential customers, grow your social media channels, drive website traffic and build your brand.

1. Optimize your website.

It could be easy to think that your content marketing strategy should begin with developing a blog, but before you start creating content, you need a website on which it will live. Not any old website will do –if you want your content to be seen by your audience, you need to optimize your website.

Website optimization means making your pages as search engine friendly as possible. Essentially, your website optimization efforts are designed to make it easier for search engines to crawl and index your pages. This includes steps like developing a sitemap, optimizing your website for mobile users and ensuring that pages load quickly.

Once your website is optimized to the greatest degree possible, you're ready to move forward with your content marketing strategy.

2. Craft high-quality content.

Every effective content marketing strategy requires strong content, but what exactly does that look like? There are different types of content, including website copy, external content and blog posts. While a content marketing strategy tends to focus on blog posts, website copy is equally important. Begin with keyword research to find out what your target audience is already looking for on search engines. This will help your audience find your website more easily. Creating web copy with this keyword research in mind is the first step to developing a broader content marketing campaign.

With both your website and web copy optimized for search, you're ready to work on your blog posts. Blog posts should be long-form content that is educational, engaging and, ideally, shareable. To increase the likelihood that your blog posts are shared externally, use images and infographics where applicable.

If you're also looking to publish external articles on other websites, you should develop branded content that points back to your website. However, externally placed articles must be rich, in-depth pieces. First, you're unlikely to get an external publication to host sloppy or rushed content. Second, external readers might be encountering your brand for the very first time, so you want to make a good impression as a leader in your space.

Whether you are writing for your own website or an external platform, the old method of pumping out dozens of 300-word blog posts is no longer effective. Today's search engines reward long-form content that offers value to readers. Moreover, it's a good brand-building tactic to create high-quality content that is packaged in a shareable format. Once you've created your content, you might be tempted to sit back and relax, but the real work is only just beginning.

3. Deploy relevant content on social media.

Content marketing and social media go hand in hand. While your content marketing strategy will take some time before it begins to bear fruit in terms of driving organic search traffic to your website, you can immediately leverage any content you create by deploying it on all of your social media properties. In other words, while you wait for your content marketing efforts to drive you up in the search rankings, you can use your blog posts as a valuable digital marketing asset to promote your brand.

Sharing your branded content on social media has three immediate benefits: it gets your content in front of more eyes, it helps you build your social media audience, and it elevates your brand profile. Content marketing is a marathon, not a sprint, but using social media to distribute your content and grow your following is a great way to see short-term results while you work toward the long-term goal.

4. Establish relationships with social media influencers.

Social media influencers hold a lot of sway with high profiles and large numbers of engaged followers. No matter what industry you're in, there are likely social media influencers that impact the space. Do some research to identify influencers whose interests are aligned with your brand and then reach out to establish a relationship or partnership. If you can get a few influencers in your corner to share your content as well, it could make a huge impact on both your brand awareness and website traffic.

Connecting with influencers can be tricky. Their large followings serve as a bit of a double-edged sword; while these massive audiences are useful if you can tap into them, they also make it hard to cut through the noise and gain an influencer's attention. A good approach is to share relevant content with them or share their own content with a mention before you reach out directly.

Some useful tools for finding influencers include:

5. Leverage email marketing.

Don't forget about email marketing. Email is an important channel for digital marketing efforts that allows you to leverage a list of people who have already encountered your brand at least once. Your website should have an email capture form prominently displayed on it as well to help grow your email list.

Consider using your email list to send newsletters and content roundups. While email open rates are typically low, engaging subject lines and valuable content can improve open rates and increase engagement. Creating a call to action in below your email content, such as "visit our website" or "receive an estimate" can help connect readers to your website and keep them engaged with your brand.

Looking for an email marketing service that can help you promote your branded content? Check out business.com's review of the best email marketing services.

6. Utilize content syndication.

Content syndication is a paid service that displays your content on the bottom of highly trafficked websites. When a reader finishes an article on one of these sites, your content will appear with several other pieces of syndicated content as a related article. If you want to avoid going the paid route, you can also create contributor profiles on websites like business.com, which allow you to contribute content directly free of charge.

7. Join online forums and communities.

Sharing your expert insights doesn't stop with content creation. You should also join forums and communities, much like the one on business.com, where you can answer questions and contribute original content. Be sure to include links to your website and content you've created, as well as connect your social media profiles, so people can find you easily. Engaging in online communities and offering assistance to other users will help you boost both your personal and professional brands, as well as drive more traffic to your original content.

Content marketing is about quality, consistency and distribution.

An effective content marketing strategy is about developing high-quality content that is engaging and shareable on a consistent basis. It's also about distributing that content far and wide across a variety of channels, including social media, email, external websites, and forums. When developing your content marketing strategy, keep in mind the expression "all roads lead to Rome." In this context, your website is Rome. Everything you do to distribute your content should trace back to your website, where your optimized content and layout will help drive conversions and turn potential customers into loyal ones.

If your content marketing strategy doesn't take off right away, do not be discouraged. Content marketing takes time and patience. As you create more relevant content around the keywords your target audience is looking for, you will see your website rise in the search engine rankings. In the meantime, focus on growing your social profiles, targeting your email list, and building your brand by sharing your content far and wide.

Want to Increase Your Email Open Rates? Write Catchy Email Subject Lines

Posted: 03 Jul 2019 07:15 AM PDT

Subject lines are one of the most critical aspects of success for email marketing campaigns.
Bad subject lines can have a long-lasting negative impact on your brand.
Avoid clickbait subject lines. Certain types of clickbait phrases can reduce read rates by nearly 9%.
The best subject lines are personalized and short.

If you aren't getting the results you hope for from your email marketing campaigns, your subject lines could be to blame.

Subject lines are one of the more critical factors in an email marketing campaign's success. Without a catchy email subject line, the likelihood of someone taking the time to open and read the message drops considerably.

Leah Miranda, senior email marketing manager for Campaign Monitor, said good subject lines are vital if you want your email campaigns to succeed. She says the subject line sets the foundation for your subscribers' experience with the email.

"If it's well written, attention-grabbing, and fulfills a need, then the individual will likely open the email and interact with the content inside," Miranda said. "If the subject line is the opposite of that, then there's a good chance it will end up being unread or in the trash."

Dave Charest, director of content marketing for Constant Contact, said other than who the email is from, subject lines are the most important factor in the message being read.

"If an email recipient doesn't recognize the sender, the subject line needs to work extra hard to entice that person to open it," Charest said. "But if an email recipient recognizes the sender and has a good relationship with the person or business, then that person is more likely to open the email regardless of the subject line."

Email inboxes are filled with dozens, if not hundreds, of promotional email messages on a daily basis. This is why Len Shneyder, vice president of industry relations for Twilio SendGrid, said he can't stress enough their importance in grabbing the email recipient's attention. A good subject line can start the type of chain reaction businesses are hoping for when they launch marketing campaigns.

"Subject lines are part of a chain of micro-decisions that lead to opening the email, clicking a link in the message body, and hopefully converting the user to the brand," Shneyder said.

The negative effects of bad subject lines

As many agree, the importance of a catchy subject line can't be understated. A good subject line can result in an engaged and long-term customer, while a bad one can lose you a customer forever.

Miranda said the subject line will make or break your email open rates. "But beyond this, it will also affect your click-through, click-to-open rate and even your unsubscribe rate. While subject lines may seem like only one small piece of the entire email marketing strategy, they hold a substantial amount of responsibility in terms of success."

It is important to remember that the more emails you send, the more your name and brand will become tied to your subject lines, according to Shneyder. As a result, notoriously bad subject lines have a lasting negative impact on you and your brand. They can also breed disengagement.

"For example, if I know that a company's subject lines are misleading or overhyped, I might delete the email before reading what it's about," Shneyder said. "Getting your reader to click – to engage – is vital. Breed engagement with good subject lines, and you will keep your spot in the inbox."

Bad subject lines can also draw the ire of mailbox service providers, including Gmail. Shneyder said Gmail analyzes which unopened emails a user deletes. In a move to streamline your inbox, it could send future emails from that company straight into the spam folder. Then, when there is an important announcement, the chances of engagement are almost zero. You will never have effective email campaigns if your messages are getting caught in spam filters.

Why you should avoid clickbait subject lines

Research shows that clickbait subject lines that try to shock you into reading a message and those that promote prices and discounts are among the least effective.

Previous research from the email deliverability firm Return Path found that, while clickbait subject lines like "you won't believe this shocking secret" are very successful at garnering web traffic, they don't provide the same results over email. Specifically, the use of the phrase "secret of" in a subject line results in an 8.69% decrease in read rates compared with messages containing similar content with different subject lines. Additionally, the use of the word "shocking" had a 1.22% decrease in read rates.

"Marketers should always avoid clickbait subject lines, because if subscribers are over- or under-promised about what will be inside the email, they are likely to unsubscribe or, worse, report the email as spam," Miranda said.

The research also revealed that value-based subject lines highlighting prices and discounts don't perform as well as you might expect. Subject lines containing the keywords "discount," "save," "sales," "clearance" and "free," as well as those with dollar signs and percentages, yielded lower read rates than comparable messages with alternative subject lines.

While you might get some initial traction with a clickbait subject line, it likely won't result in the type of long-term engagement businesses today are trying to foster with email marketing campaigns.

"You should avoid clickbait subject lines because they only work once, maybe twice," Charest said. "Then you lose the trust of your email subscribers, which is so important to maintain long-term."

The research, which was based on the analysis of more than 9 million subject lines received by more than 2 million subscribers, revealed that a better option is to use subject lines that are benefit-based or have a sense of urgency. The study discovered that those featuring superlatives like "fastest" generate 5.3% higher read rates than similar messages with different subject lines.

Urgency-based subject lines that use words like "limited time," "last chance" and "expiring" also had increased opened rates.

Shneyder said email marketers should consider the perspective of their audience before using a clickbait subject line. What is your reaction to clickbait subject lines? Would you trust the sender of such an email?

"As the sender, you want the receiver to find comfort in your brand popping up in their inbox," Shneyder said. "Be honest with your receiving party, and they will be more willing to listen, to open and – hopefully – to engage."

Writing better subject lines

With so much on the line, it is critical to put some serious thought into your subject lines. There are many do's and don'ts to consider, so these should be far from an afterthought. Here are several tips for writing subject lines that will hopefully entice recipients to not only open your email when it reaches their inbox, but also to click through and become long-term engaged customers.

Personalization

Personalizing your subject lines is a great start in boosting your open rates.

"By doing something as simple as adding the subscriber's first name in the subject line, it makes the individual feel as though the email was specifically made for them," Miranda said. "When you're looking to advance beyond the first name, you can personalize it based on your subscriber's interests in a certain product, topic or service."

Research from DMR shows that email open rates increase by 17% when the subject line is personalized, while click-through rates rise by 29.6%.

Length

The number of words in your subject line can impact whether someone decides to open it or not. Charest said having short subject lines of 4-7 words is important.

Mobile devices have made this especially important. While the average desktop client shows about 65 characters in a subject line, according to Miranda, mobile phones only display 30-50 characters. Keeping it short prevents your subject line from being cut off when being read on a smartphone.

Important words first

You don't have a lot of time to grab the attention of someone scrolling through their inbox deciding which emails to open. With that in mind, Miranda encourages putting the most important information first to grab their attention.

"For example, if the subject line is 'Summer clothes are 50% off,' your subscriber doesn't find out about the deal until the end," she said. "If you simply swap the order, then the first thing they'll see is '50% off,' and who doesn't love a good deal?"

Punctuation

To write effective subject lines, you can't just focus on the words. Charest recommends avoiding excess punctuation and symbols in subject lines. He also suggests you steer clear of writing them in all caps.

A/B testing

Instead of guessing what makes for great subject lines, you are better off trying multiple options with A/B testing tools. This allows you to see which subject lines garner more interest.

"Subject lines are one of the easier emailing differentiators to test," Shneyder said. "Always A/B test your email campaigns to measure what's working and what's not."

In addition to the work you put into the subject line, Miranda said you need to think about the preheader text, which is the copy that follows the subject line.

"If you have a great subject line and the preheader text says, 'View message online,' that sounds like a poor user experience," Miranda said.

How to Create an Engaging B2B Content Marketing Plan

Posted: 03 Jul 2019 06:00 AM PDT

However, the plan must be if engaging, organized, and focused on your audience. Well-crafted content is one of the best ways to reach decisionmakers, who look at an average of 10 articles or posts before they make a buying decision.

Good content creates touchpoints that build brand recognition, establish your expertise and help you become part of your audience's online community. These are vital marketing functions, whether you're growing in an existing market or expanding into a new one. To get started, or to strengthen your existing program, here are four core elements your content marketing plan needs.

Build an effective B2B blog

Blogs drive keyword search traffic to your site, promote your thought-leadership content, and give you content to share on social media. Which is why more than 80 percent of B2B companies have a blog. A good blog focuses on what your audience needs and delivers that information in a relatable, non-salesy voice.

The purpose of your blog is to establish your brand as an expert resource for your customers. Research shows that 88 percent of content marketers say good content achieves this goal. That means that whatever form your blog content takes, every post should speak to one or more of your brand's buyer personas. These buyer personas are created based on the characteristics of your best customers. For example, if your brand sells SaaS cybersecurity solutions, your personas may be CISOs who want to keep pace with industry trends and IT managers who need to stay current on network security best practices.

What type of content can you post on your blog? Employee profiles, industry news discussions, event promos and recaps, how-to videos, customer profiles, media mentions, webinars, and more. Each post should include relevant keywords and metadata, references to support your assertions, and visual elements like photos, infographics and videos.

Previous Hubspot research found that 16 posts per month are ideal for generating traffic. Companies who post at this pace generate more than three times as much traffic as companies who post once a week or less often.

Create thought leadership content that works

Brands sometimes overlook the power of thought leadership content, but it's a must-have. Fifty-five percent of decisionmakers surveyed in 2018 by LinkedIn and Edelman said they read at least one hour of thought leadership content each week. More than half said they use thought leadership to evaluate prospective service providers. Some executives in the survey said they rule out businesses that lack a high-quality thought leadership presence.

Articles written by your company's executives and subject matter experts show that your business takes its mission seriously. As with blogs, thought leadership articles should focus on the audience, not the brand. be aware that most publications won't accept articles that are self-promotional.

Consider your buyer personas when you develop ideas for thought leadership articles. Write about topics that matter to your prospects and existing customers, like industry trends and market conditions and best practices. When you help readers solve problems or improve their business, they will come to trust you and look to you for insight. Decisionmakers who read your executives' articles may also decide to connect with them online and in person at trade shows, further strengthening your brand's relationships with its audience.

As you're brainstorming article ideas, think about where you'd like the finished articles to appear. Online trade publications that your customers read are usually the best place to pitch your articles. Depending on your industry and audience, you may also want to reach out to general business news sites. Before you submit an idea or an article, check out the site's submission guidelines. Brands that follow the rules for article formatting, sourcing, and length are more likely to get their thought leadership pieces published.

You can also share your brand's thought leadership pieces on social media. How frequently you can publish thought leadership articles depends on your executives' schedules and the publications you're pitching to. When you're just starting your brand's thought leadership program, a good goal is at least one published piece per month.

Reach B2B decisionmakers on social media

B2B content marketing through social media increased by 61 percent over the past year. That's because social media can give your content a reach that goes far beyond your company blog and published thought leadership articles. With careful research, well-written posts, and a steady schedule, you can use your content on social media to grow brand awareness, share your brand's voice with your industry, drive traffic to your website and build an online community based on topics that matter to your audience.

The platforms you use should depend on your audience's habits, the type of content you create and the amount of time you have to tailor your content for posts on different outlets. LinkedIn is a natural fit for in-depth B2B marketing because it's the source of 80 percent of B2B leads and more than 40 percent of social media traffic to company websites.

Of course, there are other networks to consider. Twitter posts can drive traffic to your content and raise awareness of your brand, while Facebook is a good place to share blog posts, articles, opinion polls and discussions. And Instagram is a good platform for brands to share visual content and short videos.

You don't have to stop there. Medium is an increasingly popular place for thought leaders to publish their articles, which they then promote on other platforms. Quora offers subject matter experts a chance to answer member questions and prove their expertise. Don't overlook YouTube for video content, even if you also host your videos on your company site. Hubspot data shows that 65 percent of senior executives say they go to a company's website after viewing their YouTube content.

The exact ideal posting pace varies by platform and by the size of the company and its audience, but in general, no more than once per weekday is optimal for return on investment.

Invest in marketing automation

By now, it's clear that an effective B2B content marketing program contains a lot of content and a lot of moving parts. To manage it all and maximize its impact, marketing automation tools are a must. The core marketing automation functions, as described by MarTech Today, are email marketing, lead management and CRM integration.

Without automation, each of these functions would require a major investment of time to manage, and they would be expensive and difficult to scale. That's why more than half of B2B content marketers are already using marketing automation systems, according to SocialMediaToday. Even if you're just starting your program, marketing automation tools can free up time you need to focus on research and content development.

However, today's marketing automation platforms offer features that go beyond time savings on the basics. Social media integrations let your content reach a wider audience and generate inbound traffic. A marketing automation platform that integrates mobile marketing can help your content reach busy buyers where they spend much of their time. Marketing platforms can provide increasingly granular messaging aimed at specific accounts, including personalized site content and emails. And of course, automated marketing tools include data analytics that let you track content performance, customer behavior and website and social media statistics.

Every marketing automation platform has a learning curve, but that learning is an investment that pays dividends in the form of a more effective content marketing program. With powerful management tools, a smart social media presence, well-written thought leadership articles and a regularly updated company blog, you can build a content marketing program that earns the attention, trust and business of B2B decision makers.

The 10 Best Amazon Prime Day Deals for Small Businesses

Posted: 03 Jul 2019 05:30 AM PDT

Amazon Prime Day, which is really two days, starts on July 15, and anticipation for the 48-hour event is ramping up. Bargain shoppers across the globe look forward to the event, which features hundreds of thousands of different sales in its two-day duration.

While some people picture consumers buying products for personal use on Amazon Prime Day, small businesses can benefit from the discounts as well. If your business needs an Amazon device, or any other business product for that matter, consider taking advantage of the potential savings by buying the item on Prime Day. With so many different sales and discounts available, it's important that businesses know the basics of Amazon Prime Day.

For those unaware of what Amazon Prime Day is, here's a quick refresher:

Prime Day is a day when Amazon Prime members are offered special discounts on an assortment of items on the site.
Amazon Prime Day will take place on July 15 and 16, 2019.
The day's popularity has put it in the conversation with other major sales days, including Black Friday and Cyber Monday.
Participating in Prime Day requires an Amazon Prime membership, although users can sign up for a free 30-day trial to participate in Prime Day without paying for the full membership

If you're unsure where to start looking on Amazon Prime Day, we've compiled a list with 10 of the best Amazon Prime Day deals for small businesses.

NEWYES Smartpen

If you prefer handwritten notes but want that data available on your technological devices, the NEWYES Smartpen is an affordable ($129) way to get exactly that. The pen uses a built-in camera to capture the exact location of everything you're drawing. Those notes and images then transfer to the NEWYES app.

Any small business owners who enjoy taking handwritten notes can benefit from their notes and drawings immediately syncing up with an app. This pen's benefit is especially noticeable if you're drawing out a design or planning out an event. It's often easier to draw on paper than it is to draw on a tablet or computer, and this pen allows you to draw on paper while still viewing drawings in a digital format.

Amazon Echo Input

Amazon's Echo Input adds Alexa to an external speaker. It can connect to a speaker with an audio cable or with Bluetooth. If your office has a speaker and you want to connect with Alexa, the Echo Input is an affordable ($34.99) way to do that. Amazon currently lists the price at a $20 discount as a Prime Day presale, so it can be purchased for just under $15.

While the Input likely won't transform the way your small business operates, it's an affordable option that can be put to use in any office setting, even if it's just for playing music. [Interested in using Amazon Alexa devices in your business? Check out this related article on our sister site, Business News Daily.]

Amazon Echo Dot

Amazon's most popular smart speaker, the Echo Dot, checks in at $24.99 with an Amazon Prime Day presale deal. Small businesses can use the Echo Dot to play music or to ask Alexa questions. Whether a business is looking for a speaker to play music or a way to stay up to date on the headlines, the Echo Dot can help.

Much like the Echo Input, the Echo Dot's price point makes it a reasonable purchase for small businesses. While it might not transform your business operations, it can certainly be used enough to justify the price.

Fellowes Corsivo Height Adjustable Standing Desk

As businesses become increasingly health-conscious, standing desks have become all the rage. This adjustable desk, which costs $249.99, can be used by anyone in the office and allows employees to stand while working. It's easy to move around, which makes it easy to move from desk to desk if desired. This standing desk is also easy to assemble and built to last for years. [Interested in different office desk solutions? Our sister site, Business News Daily, has some ideas.]

Norton 360 Premium

A small business can purchase Norton antivirus software for up to 10 devices. The price of $99.99 makes this an affordable option for small businesses. Cybersecurity has long been a concern for small businesses, so it's important to protect your technology from cyberattacks. Spending roughly $100 to protect 10 devices from basic cyberattacks is a logical purchase.

Anker 60W Charger

This versatile charger can charge MacBook Pros, iPad Pros, several different types of iPhones and more. Priced at $39.99, it's a good office addition, especially if your office primarily uses Macs. Having extra chargers on hand for laptops and phones is a nice convenience for an office space, and spending less than $50 for a valuable resource seems reasonable. The charger's size is a bonus, as it's smaller than most traditional chargers.

AmazonBasics Classic Computer Desk With Shelves

This desk, priced at $59.99, will be released on July 10. It's best used in a small office or home office. The desk's unique size and configuration also make it a valuable storage space within an office, especially given its two shelves. The shelves can be moved to either the right or left side of the desk. It's a compact desk that could be a good addition to the home office of a remote worker.

Rocketbook Everlast Fusion

Priced at $37, this notebook may initially seem like an expensive option. Once you dig deeper, however, it becomes clear this product is a bargain given its many features. The notebook features 42 pages with seven page styles. Most importantly, the pages are reusable, and the purchase includes a microfiber cloth to wipe the pages clean after you write on them. If you're big into writing down ideas or setting goals, this notebook is a good option for an affordable price. Small businesses may opt to purchase one journal for everyone on their team.

Crayola Take Note Colorful Writing Set

Depending on your business's needs, you may want to take notes and put together detailed drawings using colored pens and markers. If you feel you might need an assortment of colors and writing utensils, this $19.99 package is worth considering. Buying one pack of these is easier than making a run to Staples for a variety of products, and the erasable highlighter is particularly popular.

Amazon Cloud Cam Security Camera

Also good for home use, this security camera is relatively inexpensive at $119.99 and a good option for businesses hoping to add a security measure to their organization. The camera works with Alexa, so if you don't already have an Amazon Alexa device, you'll need to buy it in addition to the camera. If you do have Alexa, the cost is fair, and the camera allows you to monitor what goes on at your business even when you aren't there.

One interesting (and slightly creepy) feature of this camera is two-way audio. In theory, you could watch someone break into your business and tell them you see them through the two-way audio setup. Another notable feature is the detection ability of the camera. The Cloud Cam can detect specific sounds, like glass breaking, which can be helpful for knowing if and when someone is breaking into your business.

5 Steps Toward Better Project Management

Posted: 03 Jul 2019 05:15 AM PDT

Specialists in an efficient organization operate like cogs in a wheel, all doing their bit to churn out a finished product or service. There are some monumental tasks, however, outside a company's routine operations that invite their own kind of expert: the project manager.

What is a project manager?

A project manager is the person who coordinates a team to complete a goal in a given time period. Such projects may be complicated and long term, outside of an organization's routine or involve the coordination of multiple teams.

If this sounds to you like a regular old boss, note that while a boss has hiring, firing and mentoring capacities, a project manager has no such authority. The key difference, however, is that a project manager is only short term.

"The relationship is temporary because the project, by definition, ends," said Alan Zucker, founding principal of Project Management Essentials. While ordinary bosses oversee ongoing operations or manufacturing, a project manager's task is finite.

Editor's note: Looking for the right project management solution for your business? Fill out the below questionnaire to have our vendor partners contact you about your needs.

"Complicated and high risk"

In many industries, project managers have become just as much a necessity as IT support or bookkeeping – especially if giant projects are their bread and butter.

"Companies that can't live without at least one great project manager are the ones with more complicated, high-risk projects," said Laura Stringer, principal at Ninth Fourth. "Think manufacturing, construction, technology, experience."

Indeed, some companies such as Google – where projects like "build driverless car" are the definition of complicated and high risk – may have hundreds of project managers on their payroll.

Demand for project managers is increasing. According to the Project Management Institute, the five industries with the highest projected growth are management and professional services, manufacturing, finance and insurance, information services and publishing, and construction.

Project management for small business

Unlike Google, it's unlikely that SMBs are going to have enough projects to justify an in-house project manager. Instead, many businesses bring in independent contractors, which is where the following five steps for better project management will come in handy.

Tips for better project management

The project management process should not be more daunting than the project itself. Luckily, for anyone with a goal that needs tackling, whether you've decided on hiring a contractor or not, project management experts have some important steps to keep in mind.

1. Look for domain experience.

When considering a freelance project manager, don't expect a specialist in your field.

"Project managers are generalists, they often do not have detailed technical skills," Zucker said. Instead, the project manager's job is to draw upon and coordinate with the specialists.

What employers can do is consider project managers not for their expertise, but for their domain experience. Domain refers to the areas they've managed, whether it's search engine optimization or skyscraper construction. The project manager may still not hold the answers – for that, you'll have to hire a consultant – but they will know the steps in the process.

"Good project managers know the limitations of their technical knowledge and how to ask the right questions," Zucker said. "The more domain experience the project manager has, the better they are able to know which questions to ask."

2. Prioritize the soft skills

Note, however, that domain knowledge is still secondary. What the project manager is really there for is their leadership ability.

"The soft skills are far more important," Stringer said. "The project manager must be able to coax the best performance out of every team member. They may need to function as a coach, helping everyone work together. They will need to have some tough conversations, both with team members and stakeholders. That all takes soft skills."

With this specific skill balance, more and more project managers are choosing to get , though the job does not technically require it. Its value is debatable among those in the field.

"I've been certified for about six years and renew every time, but only for the credential's perceived value," said Casey Raiford, director of R&D at Plex Solutions. "I've never actually used a specific thing I learned … the certification's real value, and it's nontrivial, is understanding how to create and implement [a] framework for actioning projects."

When contracting a project manager, however, certification doesn't always mean high performance, according to Stringer.

3. Create a project charter

Hopefully you already know why you're undertaking a project – still, it's good to lay out your goals

in coordination with the project manager. This is often referred to as the project charter.

A charter may not always be formally written up, Zucker said, but clients and project managers should at least answer the following questions:

Why are we executing this?
What are our goals?
What are our high-level objectives?
What is our definition of done?

There are two advantages to including the project manager in this process. For one thing, they'll have a better idea of what kind of expectations are realistic.

More importantly, however, both parties have the same definition of success.

"A stakeholder might say, 'We want to increase traffic to our website,' but they might really want to increase conversions or drive traffic to an app instead," Stringer said. "It's important to get to the heart of why we're doing this project, in order to understand what the goals ought to be."

4. Set deliverables

Once goals are outlined in the project charter, specific metrics must be set to track progress.

In project management, these metrics are referred to as deliverables, or the quantifiable goods or services to be completed. This may align exactly with the goal, e.g., "build the house," or it may be a tangible milestone toward completing a goal.

Either way, these must be settled in advance, but especially in the latter case where there are more variables to consider.

"Project managers should get as much agreement as possible upfront about what the deliverables will be and when they'll be complete," Stringer said. "Communication is so incredibly important throughout the entire project, and it starts right from the beginning."

5. Evaluate project performance

When a goal is completed, Stringer said it can be easy to skip this final step.

"Projects just get done, and everyone moves on to the next one, maybe with a cursory evaluation a few months later," Stringer said.

For any chance of future improvement, however, evaluation is vital – this can be broken up into two stages. The first is more meta – how did the project itself go? What worked and what didn't? These analyses are helpful not just for the project manager but the client as well, especially if they're going to be taking on anything similar in the future.

The next evaluation is a review of the deliverables.

"You're looking to see how the deliverables moved the needle," Stringer said. "Whether the goal of the project was increased customer satisfaction, shortened production times in a factory, or bringing a hot new product to the market, you'll be measuring how much something has changed."

For that reason, the second evaluation may be weeks or even months later, which is why it can be easy to forget this step. But don't, you'll want to know if the whole project was worth it.

How to Determine Your Business's Worth

Posted: 03 Jul 2019 05:00 AM PDT

There's no one set formula for determining a business's value.
Speaking with a professional business appraiser or investment banker is the best way to get an accurate valuation.
A calculated valuation doesn't mean much unless an investor or buyer agrees with your assessment.
You should perform at least a basic valuation calculation on an annual basis.

When you run a small business, you're responsible for handling multiple responsibilities. From bookkeeping to marketing to developing your product or service offerings, small business owners are busy. While it's not always easy to find time to complete additional tasks, small business owners should take the time to determine their business's value on a semiregular basis.

With small businesses being sold at historic rates, it's important that your business be ready for a potential sale. Even if you don't want to sell your business, it's a good idea to know what your business is worth.

Determining your business's worth can be easier said than done, however. If you're unsure of how to find your business's worth, it's important to speak with a business expert to get an accurate valuation. We spoke with experts who shared a few tips for how businesses can best go about finding their value.

What's the benefit of knowing your business's value?

Knowing your business's value is incredibly important information for any business owner considering selling their business. Going into a negotiation without a prior understanding of what your business is worth puts you in a position to lose money.

Many small business owners neglect to calculate their business's value. This omission can be easily remedied. If you're putting countless hours into a business, speak to a business appraiser or business adviser – they can help you determine what your business is worth.

"Many business owners expect the income they make from the future sale of their business to fund their retirement," said Justin Goodbread, owner and CEO of FinanciallySimple.com. "Yet, most do not have a formal valuation done on their company until they are ready to sell it. Many are then shocked to learn that they haven't created enough value within their business to reach their retirement goals. If you wait to assess your business's value until you want to retire or have to retire, you have no time to increase the value of your company. You will only get what you can get. Whereas, if you know your business's value ahead of time, you can work with professional advisors to increase the value of your capital – your cash flow, your tangible assets, and your intangible assets – which will then increase the value of your business."

What factors should I be aware of when placing a value on my business?

In addition to using specific formulas to calculate business value, it's important to be well versed in a few key business areas.

Tangible assets – Tangible assets include things like machinery, property and inventory. It's easy to calculate the value of tangible assets.
Intangible assets – Intangible assets include things like brand recognition, trademarks and patents. These assets can add tremendous value to a business, and you should have some idea at the monetary value of your intangible assets.
Liabilities – Any debts your business owes factor into its valuation.
Financial metrics – Is your business profitable? If so, what's your annual profit? How much revenue does your business bring in? Know your financial statements inside and out, as potential investors or buyers will want to know about your financials.

Knowing what your business possesses is an added benefit of going through a business valuation. By looking at both tangible and intangible assets, you learn what makes your business valuable and just how valuable those assets are.

Even if you don't sell your business, knowing your business's worth can provide additional insights into future business decisions. Is your brand recognition not worth much? You may put more time into future marketing campaigns to better build your business's brand. Do you have a lot of money tied up in inventory? This insight may change the way you handle inventory procedures moving forward.

How to calculate your business's value

Determining your business's value depends on a variety of factors. The size of your business, your team, your expected growth and a plethora of other factors affect how valuable your business is. When it comes to calculating your business's value, there are a few formulas used regularly. The formula used varies by business and calculating a business's value is far from an exact science.

"Unfortunately, if we have 10 different people in a room trying to determine a price for our business, we will more than likely receive 11 different answers," said David Creech, owner of DVAR Business Group.

Before diving into the formulas, it's important to define seller's discretionary earnings (SDE) and earnings before interest, depreciation, and amortization (EBITDA). SDE refers to a business's net income prior to deducting the owner's salary. Other discretionary, non-operating expenses are added back in for the calculation. Calculating EBITDA is clear cut, as the name describes what goes into the calculation. Generally, SDE is to calculate the value of small businesses, while EBITDA is used for larger businesses. Some sources use gross annual sales of $1 million as the benchmark for the difference between a small business and larger business, but there's no set rule on when you should use SDE or EBITDA.

"I like to use the SDE model when I price small businesses," said Creech. "I inspect the profit/loss statements, determine owner benefits and add backs, then add to the net income. I then use this sum and multiply by the industry's specific multiple. This gives me a 'ballpark' figure to begin negotiations with potential buyers."

Industry-specific multiples apply to both the SDE method of calculating a business's value and the EBITDA method. These multiples vary by industry and are based on industry trends and history. To find an accurate multiple for your industry, you can search online and use the advice of a site like Valuation Academy, or you can speak with a qualified business appraiser, which may lead to a more thorough examination of what multiple makes sense for your business.

According to Jeff Rasmussen, principal consultant at Fairway Business Advisors, the multiple of EBITDA method is one of three standard formulas for calculating business value: "There are 3 primary methods of calculating the value of a business: multiple of sales, multiple of adjusted EBITDA, and discounted cash flow of adjusted EBITDA."

Multiples are decided by a variety of factors, including the industry, business size and business growth. A business's multiple changes over time. To calculate an enterprise multiple, or EV multiple, you perform the following calculation:

EV/EBITDA = enterprise multiple

EV is calculated by adding market capitalization, debt, minority interest and preferred shares. You then subtract cash. The subsequent enterprise multiple provides information to potential investors or buyers, as low ratios may mean a business is undervalued. This calculation is largely used for big businesses and shouldn't draw much attention from smaller organizations.

In addition to these three methods, using a comparative method to other businesses in your industry is another way to get an accurate idea of what your business is worth.

"For small businesses, I would recommend using the comps method," said Brian Cairns, founder of ProStrategix Consulting. "Try to find a business similar to yours that has been sold or received funding. Apply that multiple to your sales. Sometimes, business brokers can be helpful in this, and, sometimes, average multiples are published. If you can't find comps, I would suggest you consult a professional."

Be careful about relying too much on formulas, though, as they don't always tell the full story.

"A flaw in the use of formulas can be demonstrated as follows," said Seth Webber, principal and the head of BerryDunn's Valuation Services Group. "Company A had an average EBITDA of $1 million for the last five years. Company A owns a taxi company in a city that has aggressively pushed back against the use of Uber. However, the political climate has shifted, and Uber is about to enter their city. Company B also has average EBITDA of $1 million for the last five years. Company B is a pharmaceutical development company. They just got their most recent drug approved by the FDA and expect to quadruple their EBITDA going forward. Both companies have the same amount of EBITDA. Are they worth the same amount? Certainly not."

How do investors valuate my business?

When determining your business's value and what factors play into business worth, figure out what a potential buyer or investor wants to know.

"There are straight mathematical ways to determine the value of a business, but those are dependent on the quality of the data used in the calculation," said Michael Ott, CEO of Rantizo. "Oftentimes, it ends up with an agreement between a lead investor and the business based on a number of factors that are acceptable to both sides."

In short, if you're looking to attract investors or buyers, you need to appeal to the way they valuate businesses. If they use the SDE and multiple methods, use that to determine your business's worth. If they use another method, that may be the method used to agree on a purchase price and valuation.

"I have owned and sold my own businesses along with assisting others do the same," said Creech. "I have found one truth that is always consistent – all that matters is what you are willing to sell for and what I am I willing to pay."

If you're calculating your business's value just for informational purposes, try using a few different methods to get an idea of how different investors and buyers may value your organization.

"Valuations are more of an art than a science, especially for early-stage private companies," said Ott. "If there are revenues, and they are representative, a proper multiple for the industry can be used to get a fairly accurate number. If there aren't revenues or they don't reflect the direction of the business, more interpretation is needed. There are a dozen ways to value a business, and a successful strategy can be to try three or four and use a hybrid."

How can I value my business at different stages in its growth?

It's easier to estimate the value of a business that's been around for 30 years than it is to value a startup. The startup has fewer years of financial statements, and it's hard to know how large the brand may become. A 30-year-old business, on the other hand, has years of financials and an established brand that can be easier to value. This makes calculating the value of your business at different stages of its growth cycle difficult.

With challenges like this, you can utilize a few different methods and project numbers to get a few general estimates of your business's worth. The best solution is to speak with an investment banker or someone experienced at calculating business worth, suggests Stephen Opler, partner at Barnes & Thornburg. He explained that business owners may struggle in negotiations with potential buyers if they aren't periodically aware of their business's value. If someone offers to buy your business out of the blue, it's a good idea to know if that offer is consistent with market value.

"As I say to people, there's nothing more boring than a one-horse race," Opler said.

Speaking with a professional business appraiser makes it easier to check your business's worth during different growth stages, which prepares you for a potential sale of your business. While speaking with an expert can be costly for larger businesses, the benefit may be worth the price of an expert's strategic insights.

"If you spend $1 million on an investment banker, it seems like a lot of money, right?" Opler said. "But if they increase the purchase price by $1.5 million, do you really care?"

How often should I calculate my business's value?

Calculating business value for informational purposes can be done in a few ways. You can use a few formulas and create estimates for your value, or you can speak to a business appraiser. For informational purposes, and assuming you aren't expecting to sell your business in the immediate future, it's not necessary to bring in a business appraiser. Bringing in a business appraiser would make for a more accurate valuation, but the cost might not be worth the added detail.

"Until you are ready to sell or do a buyback from your partners, knowing the value of your business is simply a feel-good exercise, but one that can serve as a reference point moving forward," said James Cassel, chairman and co-founder of the Miami-based investment banking firm Cassel Salpeter.

If you don't have plans to sell soon, and you just want an idea of what your business is worth, an annual valuation is a suitable timeframe. Others may suggest an annual valuation done by your own calculations and speaking with an appraiser every couple of years. It depends largely on your business needs and when you expect to be in the market to sell your business.

The bottom line

It's a good idea to know your business's worth, and there a few different ways to come up with valuations. Regardless of the method you use, consider updating your calculation annually, and speak to a professional business appraiser for the most accurate valuation possible.