Business.com |
- How to Run A Successful Focus Group for Your Small Business
- 3 Things to Consider When Designing an Office Space to Support Innovation
- 5 Things to Consider If You Want to Expand Your Product to France
- How to Choose a Mobile POS System
| How to Run A Successful Focus Group for Your Small Business Posted: 25 Oct 2019 08:00 AM PDT  If you're looking to gather information from your target audience about your business, running a focus group may be the right move for you. A focus group brings a small group of strangers together to gather their opinions and attitudes on a given concept or product. It's one way businesses can collect information and data that helps them refine their strategies to improve for the future. In 2017, companies spent a whopping $2.2 billion globally to conduct focus groups, proving they're not going anywhere anytime soon. In the marketing world, focus groups can serve more than one purpose. They give insight into the thoughts of your target market, so you know how they feel about your products and services. Many companies use these groups to test out new products and features before they're available to the public. That way, they have a good idea of how it'll perform once it's available for everyone to use. In this article, we're going to take a closer look at how the following six tips can help you run a successful focus group:
1. Set objectives.When you know what you're trying to determine, it's easier to choose questions and discussion prompts for your focus group. It's important to set clear, actionable goals from the beginning so you go in with a clear mindset about what you want to achieve. The more you narrow your focus, the better. What are you trying to find out? What do you want to know from the group? Who are you targeting? Do you want to gain feedback about a product or service? Write down a list of your most pressing questions as a way to create your goals. When you narrow them down to a few, you're ready for the next step. 2. Know your target market.You can't run a successful focus group without targeting the right audience. That's why it's essential you know who you want in your group and what purpose they serve for your market research. Consider what types of people will help you reach the goals you set in place. For example, if you're a dental company trying to gauge what customers think about the new flossing product you're launching next year, you'd want to target only flossers. Adding non-flossers to the group doesn't help you because they won't use your product or give you accurate feedback. You can create buyer personas to narrow down the types of people you're looking for so it's easier when responding to applicants. The information is right in front of you so it's easier to make a balanced, informed decision about who's going to join the focus group. 3. Compile questions for participants.Once you know what goals you want to achieve and the audience you're targeting, it's time to gather your questions and discussion prompts. What you ask your audience determines your results and how well you reach your goals, so it's imperative to choose the right ones. Avoid asking "yes" or "no" questions that don't give you further insight unless they serve a purpose. The last thing you want is to ask questions that leave you at a dead end. Stick to open-ended questions that prompt discussion and make it easy for participants to dive further into the topic. It's important to keep the discussion going once it starts because any lag in momentum can discourage participants from speaking up. That's why it's crucial to go over your questions before the group meets so you know how, when and where to steer the conversation. 4. Recruit participants.The most important part of your focus group is the people who participate in it. Their feedback and attitudes on your topic determine its outcome. If you don't target the right audience, your results won't be accurate. It's crucial to hold a proper screening process to ensure respondents qualify for the group should you choose them. You don't want more than 15 people in your focus group so that you can pay attention to each person and gain clearer insight. Unfortunately, few people are willing to take part in a focus group if there isn't some form of compensation. They have to travel to your location and take time out of their day to give you data and feedback. So, it's a courteous gesture to incentivize the process and show your appreciation. You can offer participants:
The best way to find participants for your focus group is by promoting the opportunity to participate everywhere you can. Use social media to add relevant hashtags and keywords to your posts. Advertise on various social platforms where you can target a specific audience. Use email marketing to reach out to existing customers. Consider local-based promotion using flyers, local ads, billboard ads and more. Since you already created a website for your business, you can make a separate webpage to accept applications. Use an optimized survey form to collect applicant information and keep data in one place. It's best to narrow down your questions so you know those you choose fit your target audience. Ask for information about their demographics and other criteria that will help you choose candidates who qualify. 5. Run the focus group.Before running the focus group, you need to make sure enough people register to attend. If there are too few participants, you won't get enough data, and the group won't serve its full purpose. Use an event registration form to keep track of everyone attending the focus group. Be clear about the date, time, and location so everyone is on the same page about where they need to be. There are usually a few no-shows in every focus group, so expect a few people not to show up. Focus groups typically have more than one person who runs them, including a moderator and an assistant moderator. How you choose to run your group is entirely up to you. Hand out a consent form for everyone to sign for legal purposes. Start the discussion by explaining why everyone is there and what you hope to achieve from the process. If there are rules, now is the time to announce them. Ask your questions to each participant and moderate the discussion while your assistant records the session and takes notes. When the meeting is over, hand participants their incentive and thank them for their time. 6. Analyze your data.Once you have the information you need, it's time to organize and compile it into research you can use to better your small business. If you recorded the meeting, which most companies do, then you can convert the audio into transcripts and analyze them further. You can expect to cut out unnecessary information, ramblings and other nonessential parts of the discussion. Take note of similarities and inconsistencies in participants' feedback. You might see a common theme that leads you to a newfound discovery. Go over your notes and compare them to the transcriptions to continue making connections. When you have everything you need, compile it into a report that summarizes the focus group's goals and findings. Review it as needed when it's time to refine your strategy and enhance your business. Over to you.When you own a small business, running a focus group is a great way to gain customer insight, collect feedback and improve your brand. It gives you valuable information you can use to grow your business and reach success. How will you run your next focus group? |
| 3 Things to Consider When Designing an Office Space to Support Innovation Posted: 25 Oct 2019 06:00 AM PDT 
Through many decades of office design concepts, plenty of trends have come and gone, but one thing is undeniably certain: The space itself is critical to the workforce's happiness and ultimately to the company's success. A workspace serves as a foundation to inspire creativity, spur productivity, foster innovation, and support well-being – all of which sets the stage for a strong, vibrant culture. At Varidesk, for example, we took great care in our office design, customizing the space to create a variety of zones where people can focus privately or collaborate collectively. It's our belief that these open, multipurpose spaces foster a sense of inclusion and transparency. Everyone feels much more accessible and connected, from reception to C-suite. Those feelings of safety and cohesion lead to increased happiness, which studies have shown to improve the productivity of a workforce by up to 12%. The power of transparencyThis isn't to say we got everything right from the start. Our executive conference room sits in the middle of the office, surrounded in frosted glass – that is, until someone mentioned the perception that exclusive conversations were happening "behind closed doors." Now that the frosted glass has been replaced with clear panes, our staff can see the senior leadership team, read our body language, and discern our facial expressions, which reduces some of the stress and watercooler chatter that can happen when that approachability is lost. Approachability is a crucial element to consider. Transitioning to a more open workspace doesn't mean directors, managers and supervisors need to give up every semblance of privacy. Everyone can use the occasional half-hour to recharge and regroup in private. Introverts, in particular, need access to isolated spaces in order to rejuvenate. But those spaces don't need to be exclusionary. Our leaders have their own offices, but they are doorless and the walls are clear. We can break away for some personal time and still maintain that accessibility and approachability. Editor's note: Need office cubicles for your business? Fill out the below questionnaire to have our vendor partners contact you with free information. Little things add upLike swapping the frosted glass of our conference room to clear glass, it's often the little things that make the biggest impact on office dynamics. Take flexible workspaces, where you offer employees a mixture of soft seating, movable walls, and adjustable desks or tables. Incorporating even a few adaptable stations into the workplace allows people to modify the office to best suit their needs. In fact, demand is rising for greater flexibility in office design, especially when it comes to younger workers. According to Capital One's Work Environment Survey, 89% of millennials reported that flexibility was an important element of office design. And with roughly 56 million of them in the U.S. job market right now, you should look into a more flexible office if you hope to recruit and retain young talent. Staying ahead of trends and taking a long view of your office design will help keep your company viable and give you advantages over competitors. As such, I would strongly encourage leadership teams to take a total lifetime cost of ownership approach when viewing any sort of investment in the office space as opposed to the "how much is it going to cost us this year?" perspective. If you were to look at the traditional office setting, you invest in drywall. You invest in cubical farms. You invest in a conference table or two. All are logical choices, but you need to ask yourself, "Will these investments suit our business needs in three years, five years, ten years?" It isn't cheap to move that static setup. Standard office renovations cost about $200 per square foot when drywall, flooring, and other factors are considered. It takes a lot of time, too. Between 800 and 1,000 hours of employee time is typically necessary to plan and carry out a move for a small to midsize business. Devising a better strategyRarely will a business evolve linearly, so the design should reflect this fact. If you're a fast-growing company, you're especially at risk of spending a lot of money demoing and reinstalling walls and expensive furniture systems each time a new team comes on board. A much better option, at least from a budgetary standpoint, is to create open, multipurpose spaces supported by flexible furniture solutions that can change as your business changes. How to go about conceiving such a workplace will vary from business to business, but the following tips will always be the best places to start. 1. Plan around people. Companies can get so wrapped up in the aesthetics of the space that they overlook an essential design element during the planning phase: people. Employees need their workspace to help them thrive, so pay attention to office dynamics and ask for feedback. Don't be afraid to use both surveys and one-on-one conversations to gauge how the space is working for everyone. Then, put those valuable insights into action. It has worked tremendously for our company. Gensler Research Institute's 2019 U.S. Workplace Survey finds that a large majority of workers (79%) consider their work experiences "great" when they have access to a variety of work settings. Only one-third of respondents echoed those sentiments when they were stuck in static settings. 2. Design for flexibility. While workers are interested in more private space at work, flexibility is still understood and accepted as a vital office characteristic. In fact, when it comes to voting on what elements make up an ideal workplace, employees tend to rank collaborative values above individual ones. Teambuilding and collaboration (43%)was the top answer given by Gensler survey respondents, followed by "supporting health and well-being" (34%). There's a certain amount of rigidity to designing an office and subdividing a space into areas for work, collaboration or brainstorming. While multifunctional, a standard office may not optimize a workforce to its full potential. Plan the space so that it's adaptable to changing needs. Maybe a project will bring together marketing, operations, and sales for six months or so; your space should accommodate this team so it can execute strategy. Work to create fluidity where possible. 3. Consider the future. Creating an office that works for all employees can be challenging. But as long as you plan for tomorrow and offer spaces to suit a variety of needs, you'll move in the right direction. It all comes down to being thoughtful with each choice you make. Oftentimes, planning for the future means leasing the office space next door, should the business demand more space. Sure, that's an option sometimes. But if you were to look at our company's office, you'd never know that we've tripled in size yet still work in the same space. Everything from layout and multipurpose spaces to adaptable fixtures and furnishings can allow a workspace to evolve as the business does. In the end, it all comes down to flexibility. When you work to create great spaces that allow people to have room to breathe and meet without feeling like sardines in a can, you elevate people to be their best innovative selves. |
| 5 Things to Consider If You Want to Expand Your Product to France Posted: 25 Oct 2019 05:00 AM PDT  France is an attractive market for businesses that seek to expand. With a gross domestic product (GDP) of $2.583 trillion annually, it is the world's seventh largest economy. It is a high-income country that ranked 19th on the list of countries according to GDP per capita in 2018. France has a highly-developed, free market oriented economy complemented by a "very high" human development index. You have to look beyond the statistics, however, if you are trying to penetrate the French market. Aside from doing the usual market research, feasibility studies, competitor analysis and business plan, there are other essential factors you have to take into account. It greatly helps if you put emphasis on how potential customers think and typically behave. Buyers love the old and familiar, but can be receptive to new and innovative productsThe French commercial environment is good for exporters or foreign companies that plan to expand to foreign markets. American companies, in particular, can expect a favorable market for the sale of their goods and services in France. However, it's important to prepare for the tendency of French customers to patronize known brands, especially the local ones. They prefer familiar companies that have already proven their worth in delivering good product quality and customer service. Nevertheless, they can also be receptive to new products, especially those that offer something different. For this, you need to prepare for intensive marketing efforts. Invest in high-quality marketing campaigns designed to dynamically respond to what competitors are doing. You need to double your efforts to convince local consumers to try what you are offering. The French are not averse to foreign and unfamiliar products or brands. You need to make sure they become aware of your product, including its advantages or innovative features. Fortunately, it wouldn't be difficult to find companies that will serve as local partners in the French market. These companies can help in areas such as distribution and networking with local suppliers. They can also be of great assistance when it comes to dealing with regulations and other government-related matters. Communicating in French is a mustThe French language is vital in reaching out to potential customers in France. It's not only because the French appreciate it when you try to talk to them in their language, but more importantly because of regulations. French is a necessity in making product offers and presentations, user manuals, in writing terms of service and all other designations of a product or service. Invoices and receipts, likewise, need to be in French. All of these requirements are under The Act of August 4, 1994 as well as the French Code of Consumption, which set regulations on the use of the French language. Accordingly, French should be used not only in product packaging and marketing materials, but also in trade and labor relations, contracts (regardless of their form and purpose), job offers and other documents pertaining to the social relations of a company. If your company does not have someone with adequate fluency in French, you would have to hire competent language services. It's not enough to simply translate texts or interpret verbal messages to French, though. The regulations demand legibility, audibility and intelligibility. The use of agents must be in accordance with European Union and French lawsThe use of agents, distributors or franchisees in distributing products to the French market must meet the legal requirements set by France and the EU. It can't be an informal arrangement. There are many legal and technical details in this regard and this post is not enough to discuss all of them. Businesses that seek to enter the French market are advised to consult relevant business organizations including The American Chamber of Commerce in France, Business France, the European-American Chamber of Commerce in France, and the French-American Chamber of Commerce in the United States. You should also hire a legal translation agency to make sure that all the documents are properly translated. Ecommerce is not a bad ideaFrance is one of the world's largest ecommerce markets. In 2019, it ranked as the 6th biggest ecommerce market in the world valued at $43 billion. It's not as big as China's ($672 billion) or the U.S.'s ($340 billion,) but it's a significant market for online sellers to exploit. Ecommerce is a good starting point for penetrating the French market. If you are still having second thoughts expanding your brand to France, consider marketing your products to French buyers online first. You don't have to set up a base of operations in France itself yet. As you explore the possibility of gaining French customers, you can use the online route temporarily. It's a good way to test the myths of French consumer behavior. If you are able to sell your non-French and little-known brand to customers in France online, there's a good chance you will succeed with your expansion plans as you decide go all-out, with intensive marketing campaigns and a full-fledged branch in a major French city. Buying decisions are based on quality, price and after-sales serviceThere's nothing surprising here. Just like most other consumers, the French value quality and good customer service. However, the price is not something French buyers completely ignore outright. They will pay for something expensive if the price corresponds to the quality of the product or service. They will not actively hunt the lowest prices, so focus on offering something that will pique buyer interest, make sure it is of excellent quality and price it accordingly. You can't just offer something with a 1,000% markup, believing that French customers wouldn't mind the high price. They are savvy shoppers who can find good alternatives if they think something is being overpriced. On the other hand, it's important to emphasize the need for outstanding after-sales service. Leave a good impression for every sale made. Dissatisfied customers are not completely inevitable, but you need to try your best to minimize the number of complaints or unflattering comments about your products. If there are problems, be sure to address them promptly and satisfactorily. Word of mouth is still a big deal in French commerce. Customer rants on social media or bad reviews and ratings on online stores or marketplaces can significantly affect your business in adverse ways. Bonus tip: Many French consumers are fond of social media and online interactions. According to Alexa and SimilarWeb, the top sites in the country include YouTube, Facebook, Instagram, Twitter, Vk.com, and other sites that allow people to connect with each other and leave (or respond to) comments. This means that online marketing is not just an option but a must for anyone seeking to get a share of the French market. France is an attractive and viable market for business expansions, but you shouldn't decide to introduce your products or services in this country whimsically. You need to come up with a market study and business plan. You should conduct a competition analysis. Additionally, you have to evaluate consumer behavior, identity opportunities and risks, and get acquainted with market regulations. |
| How to Choose a Mobile POS System Posted: 25 Oct 2019 04:45 AM PDT 
A point-of-sale (POS) system is a set of hardware and software paired to enable businesses to accept customer payments, in addition to many other operational capabilities. As consumers become more mobile-centric, the POS industry has followed suit, offering mobile POS systems. What is a mobile POS system? David Mitroff, Ph.D., business consultant and founder of Piedmont Avenue Consulting Inc., said a mobile POS, also known as a point-of-sale app, is an app that runs on a smartphone, tablet or dedicated wireless device and performs the functions of a cash register or electronic POS terminal wirelessly. Merchants can create a mobile POS system using their own tablets and basic peripherals, like a receipt printer and cash drawer. They can also build on to their system as needed, adding hardware like tablet stands, kitchen printers, barcode scanners and scales. Currently, in the POS industry, the best POS systems are mobile or web-based. Although mobile POS apps used to be considered less powerful than legacy POS terminals, the software is improving at exponential rates. Mobile POS systems are generally smaller, cheaper and more convenient than legacy systems. Since mobile POS apps are software as a service (SaaS), they are constantly updated, giving merchants access to the latest versions. There are many reasons why a business would choose to use a mobile POS system as their point-of-sale option. "They are ideal for retailers with limited space, busy retailers wanting to avoid long queues and retailers who operate with portable premises such as food trucks," said David Ewart, partner and director at Pavilion Broadway. The benefits of mobile POS solutionsThere are several benefits and few risks to using a POS mobile app, and the pros often outweigh the cons. We spoke with Ewart and Mitroff to find the most beneficial aspects of mobile POS systems. These benefits are specific to mobile POS systems as opposed to legacy POS systems.
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The risks of mobile POS systemsAlthough there are many benefits to using mobile POS devices, merchants should also be aware of the risks they take by using these systems. Mitroff gave the example of the potential for unauthorized access to a POS application. To mitigate this risk, you should only allow authorized employees to access the mobile devices you use for your POS system. The devices and the POS app should be secured with passcodes. The app should allow you to assign a unique user ID and passcode to each of your employees. Mitroff also said businesses that use a mobile POS run the risk of disruption due to a poor internet connection, which may result in the unavailability of point-of-sale applications. This can be especially challenging for fast-paced businesses that need constant access to their POS. Ensure you have a stable and secure internet connection before using these systems for your business. One of the greatest risks that Mitroff mentioned is the chance of a cyberattack against your POS app's back-end system or malware targeting your POS app. Security is an important factor, which is why you should only choose a POS software company that takes great measures to ensure your information is safe. Ewart said that, although there are still security vulnerabilities with magstripe versus chip and PIN or contactless card readers, these risks also apply to traditional payment systems, so you'll want to use an EMV-compliant and NFC-enabled card reader rather than just a swiper. He added that the fears of proximity attacks are largely unwarranted with newer mobile POS systems. Features to look for in a mobile POS systemThe features you need in your mobile POS system depend on many facets of your business, like industry, size and speed. Mitroff said that these features are what distinguish a mobile POS system from traditional solutions; however, not all mobile POS software is created equal. "Finding the right software for your business means investigating each potential solution's features and choosing the one that is the most suitable for your particular business," said Mitroff. "For example, if your business strictly sells goods and services to individuals, your mobile POS app should have an inventory matrix feature that allows you to precisely manage back stock and know how much product is left in stock." These are the standard features you will likely need in a POS solution:
A mobile POS system grants you access to many other features beyond these general POS functions. Mitroff said you should look for these additional features in a mobile POS system:
Ewart recommends finding a mobile POS system that offers low transaction fees, integration with your existing systems and a high level of support. "We know of many horror stories where companies have invested big in a new mPOS system only to find it didn't connect with their existing booking system and had to fork out a small fortune on building a custom API," he said. "It pays to be diligent." The best point-of-sale app for your businessThe best mobile POS system for your business will depend on your specific needs. If you only need basic POS features, there are several great apps and readers for mobile credit card processing to choose from, like Square and PayPal. If you need advanced POS features, keep in mind that all of the best POS systems, like Epos Now and Vend, have mobile and web-based capabilities. Find a system that can support your current business needs and scale as your business grows. "It pays to invest in a company that is agile and futureproof, with connectors to newer technologies, as it will save you money in the long run," said Ewart. Weigh the pros and cons of using mobile POS software for your business, and pay close attention to the specific features each mobile POS app offers. Also, if you prefer to use a specific platform, check for compatibility. Although the best point-of-sale apps can be used on iPads, iPhones and Android devices, some are specific to one platform. Most providers offer free trials or demos for their point-of-sale apps, so test-drive them to ensure the mobile POS system that you choose does what you need it to do. Otherwise, you may need to switch systems or incorporate pricey add-ons down the road. |
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