The 2021 Ultimate Guide to Lead Generation for B2B Service Businesses

The B2B market has irrevocably changed in the last few years. Customers are better informed and expect a different, more personalized type of service. Strategies that worked even a few years ago are becoming outdated, leading CEOs and VPs of Sales to seek new ways to generate leads.

Our 2021 Ultimate Guide to Lead Generation for B2B Service Businesses will teach you how to update your strategy.

 

How to get more B2B leads in 2021? 

While the question for many businesses is “How can I get more B2B leads?” the real question should be, “How can I get more qualified B2B leads?”. Quality over quantity.

So, we’ll focus on how to get well-qualified leads.

 

How To Implement the Right Lead Generation Strategy

Choosing the right strategy depends on several factors, including:

#1. What is Your Product or Service?

When customers buy your product or service, they are fundamentally purchasing a solution to a problem. A good product addresses a specific pain point. It could be that you save them time, money or offer them a solution that’s not on the market. Whatever it is, make sure that your marketing materials demonstrate the value of your solution.

#2. Who is Your Target?

Understanding who you are trying to sell to requires deep research. What are the demographics, what don’t they like about competitor’s solutions, how can you make life easy for them? Etc.

#3. What is Your Business Revenue Model?

Different revenue models require different lead generation strategies. One-off purchases, scaled pricing, and subscription prices require their own considerations and knowledge of various consumer personas.

#4. Where Do Your Customers Hang Out?

Specific platforms have distinct demographics. If your B2B consumer persona is serious business people, try LinkedIn. If they are Millennials, Instagram could be the right place.

Tips to Plan Your B2B Strategy:

  • Understand your customer persona
  • Underline the value of your product or service in your marketing materials
  • Understand that different business models need their own approach
  • Concentrate your efforts in the places your personas congregate.

 

Five Channels for B2B Lead Generation

#1. Inbound Marketing

Inbound marketing is all about content and solid SEO (Search Engine Optimization). It is still one of the most effective ways to get site traffic — and leads — to your site. 

Capturing leads can be done with this process:

1) Write helpful content that targets keywords and questions relevant to your product. 

2) Valuable content will help you rank and appear in the SERP when your target market is searching for solutions.

3) Once your leads visit your site, you need to find a way to get their details.

4) Use gated content that requires them to leave their name, phone number, and email address.

 

Which Gated Content Can Act as a Lead Magnet?

This content will depend on your product, service, and target audience. But some of the types of content that attracts leads are:

  • White papers or ebooks
  • Webinars
  • Research
  • Demos
  • Email series

In short, offer your prospects valuable content, and they’ll arrive.

The thing to remember when using inbound content as a strategy is that it takes time to bear fruit. So keep at it. It can take as long as 6 to 12 months.

 

#2. Pay-per-click advertising (PPC)

If you need something quicker than inbound marketing via SEO, PPC advertisement is a solid strategy. 

This process involves paying for site traffic. There are several pros and cons here.

Pros:

-Lots of traffic

-Potential to target your demographic

Cons:

-Expensive

-Can get expensive

-Not all traffic is verified

Additionally, there are lots of options available in the ad space. Banner ads and ads that target demographics via social media (for example, Facebook) are good. Additionally, Google offers a wide range of services to get your product or service in front of the right eyes.

Native ads are another appealing option. These are the ads that appear like native content on a news feed or other digital publication.

 

#3. Social Marketing

Having a social media presence is crucial for most products or services. Creating brand awareness and establishing expertise and credibility in your field are great ways to get attention.

However, to turn your social media into a lead-generating machine, here are two great tips.

1) Make social media posts that are interesting, helpful, and include your CTA. However, it’s not always time for the hard sell. Most of your interactions will be with people in the awareness stage of the sales funnel, so a gentle approach is the most effective.

2) Use social media to drive traffic to your site or landing page. You can use content like blog posts, videos, or other values to achieve this. Once you’ve got them there, you can try and capture their details.

 

How to Generate Lead Through LinkedIn

LinkedIn is a fantastic resource for B2B leads. This platform is where most prospects are. 

Here is a proven lead generation strategy for LinkedIn:

1) Make a solid profile.

2) Be active with posts and in relevant groups. Make connections.

3) Engage, make connections, be helpful, demonstrate how your solution can help.

4) Collect relevant details and contacts, which by now should be warm leads

 

#4. Influencer Marketing

Millennials have become skeptical and untrusting of traditional advertising. For this reason, influencer marketing took off because it offered something similar to trust and word of mouth.

However, while marketers generally used it for B2C products, influencer marketing has become popular for B2B recently. 

Depending on your niche, this can be very effective. And not necessarily by using well-known names. Micro or nano influencers can be very effective, with the bonus of locking down on very tight demographics they serve.

 

#5. Outsource Lead Generation

While the above tactics are effective, outbound lead generation still gets the best results. However, many businesses struggle to generate enough leads for their sales people.

By outsourcing cold calling and appointment setting, you can let your reps focus on their core competency: closing deals.

With the assistance of a B2B lead generation service, you can make sure each prospect is fully qualified and warmed up already, leading to higher conversions for your sales team.

Conclusion

B2B lead generation costs time and money. Formulating strategies that work for your market and your target audience is vital. Using a combination of inbound and outbound marketing, you can make sure your lead pipeline is full of quality prospects interested in your product.

john dubayAuthor’s bio: John Dubay is the Managing Partner at Leads at Scale, an outsourced sales support company that helps B2B companies generate well-qualified leads at scale, ready to be closed. 

6 Copywriting Secrets that Generate Leads | Paramount Business Coach

Copywriting Secrets to Generating More Leads for Your Business

Copywriting is a key player in any business’s lead generation process. Every campaign email, advertisement, blog, or landing page you write must be engaging and impactful enough to convert your visitors into leads, and those leads into sales.

The trick to achieving this lead conversion is to create content that captivates your visitors. You need to get them interested in your products and services, keeping their interest long enough to convince them to invest in what you offer.

Here are 6 essential tips to create copywriting that generates more leads for your business and boosts your bottom lines as a result.

1. Bear Your Customers in Mind

Your copywriting should always focus on the needs, interests, and demands of your target audience. If your headings, topics, and calls to action aren’t converting visitors into leads, it may be time to consider updating your content strategies. If your content grabs the attention of your visitors, this will reflect in your improved conversion rates.

One effective way to ensure that your copywriting strategies are to take the reviews and opinions of past customers into consideration. Read up on past testimonials, reviews, and customer communications to find out the most notable benefits of your products and services from their points of view. You can incorporate these strengths and benefits into the future copy to ensure that you’re highlighting your business’s offerings in a positive and compelling way.

The copy on your sales pages should showcase customers’ positive reviews and experiences with your products in a way that tells your leads exactly what they can expect when they invest in them. Your sales copy or content copy can also touch on how you have addressed past product concerns or updated your offerings to meet the changing needs of your target market, showing that you’re attentive to your customers’ preferences and open to their suggestions.

For example, instead of headlining your landing page with a simple headline such as

● ‘Freelance Job Finding Tool,’ you could use the headline
● ‘Instantly Find Great-Paying Freelance Jobs Online with Us.’

The latter benefit-based headline immediately tells visitors they can expect excellent service from your business and that they can benefit directly from buying your offerings.

Creating captivating written content that increases your lead generation rates will also require an in-depth knowledge of your core audience. You need to know your target market in and out if you want to be able to use the right persuasive language to convert them into customers.

You can write your content using certain personas to help you engage with your audience more effectively. This approach allows you to address specific age groups, demographics, interest groups, and pressure points with content that’s relevant and approachable to them.

Approachability is key when it comes to lead generation, and by writing using a persona, you can make your brand’s identity seem more relatable to potential customers while offering them persuasive media that truly resonates with them.

2. Focus on Calls to Action

Calls to action (CTA) are an obviously crucial element in any business’s written copy. However, what many companies don’t realize is that their copywriting strategy should have its basis on a single, focused CTA rather than multiple, general directions.

You can use focused, imperative language to instruct potential customers on which steps they should take next. CTAs like:

● ‘call us now,’
● ‘book your spot now,’ or
● ‘sign up for a free trial today’

are all effective, as long as a single, clear action gets priority in your text. Terms like ‘inquire’ and ‘contact us’ may suit B2B businesses more, while B2C companies can use CTAs such as ‘buy today.’

Don’t suggest further reading, flood your readers with pop-up ads, or bombard them with unnecessary actions.

Use your sales and service web page copy to tell them the benefits of your product or service and instruct them to take direct action to reduce the incidence of choice paralysis. This is one trait of being a good copywriter.

In contrast, your blogs must offer useful and actionable information that adds additional value to the products and services your brand already offers, like how-tos, guides, and relevant news.

3. Work on Your Customers’ Emotions

Copywriting is as much an art as it is a science. Using emotive language can go a long way in pointing out the benefits of your products and engaging your audience.

Headlines like ‘Take the Stress Out of Supply Chain Management’ allow your content to resonate with your readers’ potential stress points and give the impression that your brand empathizes with them. It’s crucial to word your copy in a way that highlights the fact that your readers’ lives will be easier if they invest in your products and services.

4. Be Generous with Your Visitors

You could offer your website visitors a free eBook, guide, or digital download in exchange for their email addresses or contact details. Free gifts like these act as a lead magnet to convert visitors into leads, and they also enhance your brand’s reputation, which could generate even more valuable leads in the future.

5. Focus on Readability

Today’s online audience has a short attention span, and you need to capture it quickly lest you lose it forever. You can make your content more readable by using brief sentences and paragraphs, easily legible fonts, and bullet points to help get your information across quickly and concisely.

Tools like the Flesch reading ease test can help ensure that your content is as readable as possible. This tool measures readability and grade level, helping you find out whether your content will reach the intended audience.

The trick to making your content readable and engaging for your readers is to model each page of written content after a step-by-step process. Use a combination of headings, brief paragraphs, infographics, block quotes, and lists of imagery to keep them immersed throughout. This will also keep your content skimmable.

Using descriptive headings will allow your audience to find the areas of your content that they’re
most interested in.

6. Create and Stick To Strategy

Your copywriting strategy should always focus on creating a copy that generates leads and converts them into paying customers. Once you’ve gained a keen understanding of your audience, use specific strategies to stand out and highlight the benefits of your offerings in a relatable way.

Copywriting Tips for Writing Emails That People Open

Use these 8 elements of high-opening email subject lines to craft emails that people are more likely to open.

#1. Self-interest

Using terms like ‘you’ and ‘your’ allows you to address your readers directly and to engage them with communication that speaks to their own interests.

Examples include:

○ ‘Simplify Your Life with These 3 Time Management Apps’ or
○ ‘Pressed for Time? How [your tool] Can Help You Streamline Your Work Schedule
Today’.

#2. Curiosity

Email subject lines that get people curious about what the mail contains are a great way to ensure that your emails actually get read. You can draw your readers in by
adding intriguing headlines like:

○ ‘Open for a Surprise’ or
○ ‘You Won’t Believe Our Festive Deals This December’.

Give your readers just enough information to arouse their interest and then leave the real explanations for the body of your mail.

#3. Offer

Nothing catches someone’s attention quite like a great deal or a special offer. Your email subject lines for offer-related emails need to be short, concise, and catchy in order to
distinguish them from the many other emails your target audience receives daily.

Headlines to use include:

● ‘Spring Sale—Offers Just for You’
● ‘Get 15% Off on All Purchases Today’ or
● ‘Sale Alert! Up to 40% Off Your Favorite Beauty Products’.

 #4. Urgency

Conveying a sense of urgency in your email subject lines will compel your readers to click immediately. It’s essential to persuade your readers to read your promotional emails
the second they receive them, as most people don’t go back to review past emails. Examples of urgency include:

● ‘24 Hours Left on Our Special Offer—Don’t Miss Out!’ and
● ‘Only One Week Left to Take Advantage of Our Free Webinar Program’.

#5. Humanity

The personable language will prevent you from sounding robotic in your sales emails and allow your readers to better relate to your brand’s identity. Terms like:

● ‘oops’, ‘our bad’, and
● ‘woohoo’ can add a human touch to your email correspondence.

#6. News

Most people will appreciate updates on your business. You can use subject headlines like:

● ‘We’re Open Late This December! Our New Holiday Shopping Hours’ or
● ‘We’re Going Online—Here’s What You Need to Know About Our New Online Store’ to share important news about your enterprise.

#7. Social proof

People are more likely to trust a brand that others have rated positively before them. You can make your emails more persuasive by adding subject headlines like:

● ‘It’s Overwhelming How Much Love We’re Receiving!’ or
● ‘Here’s What Chicago’s Best CFOs Have Had to Say About Our Products’.

 

Remember to include photos and designations of the people giving the testimonials in your emails, as this adds credibility to the message you’re sending your target audience.

Tips for Writing Attention-Grabbing Headlines for Blog Articles

Your blogs’ headlines have the power to captivate your readers—or drive them away. Catchy headlines are especially important if your goal is to gain more leads.

Attention-grabbing headlines will motivate your audience to click on and read your blog posts. They may even convert potential customers into active ones, which is crucial to your business’s success. Readers who are bored by your headlines will likely go elsewhere, and it may take more effort to recapture their attention in the few.

Here are our top tips for writing attention-grabbing blog article headlines every time.

1. How-to headlines

‘How to Write Attention-Grabbing Headlines for Your Blog Articles’ is a good quality headline for a blog article. It addresses your readers directly and focuses on people’s
need to gain valuable new skills.

Computers, mobile devices, and the internet have made it easy for people to find answers or information. All you need to do is determine what problem your product addresses, and what the solution is. Once you have this information, point your readers in the right direction with how-to guides designed specifically to answer their most pressing questions.

2. List headlines

List articles are popular because psychologically speaking, humans crave certainty and predictability. A blog headline like ‘10 Ways to Earn Money Online While Traveling’ tells your readers precisely what they’re in for—that there are 10 different ways to earn money online while they travel. They can also decide if they have the time to read all ten listed methods.

3. Curiosity

This is another psychological copywriting tactic that plays on people’s natural curiosity. Your readers want to learn, and they want to know what their peers know too. Questions
are an effective form of writing a copy for headlines as they prompt readers to think about the answers to the questions. For example, a headline reading ‘Are You Really Ready for Marriage?’ would get plenty of attention from single people, people in relationships, and even those who are engaged who want to make sure that they’re ready to take the plunge.

4. Threat and warning headlines

When it comes to writing topics to attract more audience, these headlines are extremely compelling to readers, most of whom want to avoid problems before they occur.

Headlines like:

● ‘Do You Recognize the Warning Signs of Early Dementia?’ or
● ‘Here’s Why Social Media Addiction is the Next Great Health Crisis’

promises essential tips to help your readers avoid these issues before it’s too late.

Headline Template Hacks

Last but not least, these headline templates are all based on highly effective content writing strategies like the ones listed above. Use them in your next blog posts to captivate your readers and improve your blog engagement rates:

 

● What [#] Studies Have to Say About [Subject]
● [#] [Noun] That Are Proven To [Desirable Outcome]
● [#] Ways To Be [Adjective] When You Don’t [Verb] [Adjective]
● How To [Verb] An [Audience] With The Best [Subject] Tips (+[#])Free [Resources])
● [#] Data-Driven [Noun] From [#] Of The Most Popular [Noun]
● [#]+ Easy Ways To [Verb A [Noun] That Will Skyrocket By [#]% In 1 Year
● How To Use [Noun] To Increase Your [Desirable Outcome]
● The [#]-Minute, [#]-Step Solution For The Best [Noun]
● How To Rock A [Noun] That Will Save You Tons Of Time/Money
● How To [Verb] Your [Noun] For Massive Growth
● To The [Role] Who Will Settle For Nothing Less Than [World-Class Outcome]
● Break All The Rules And [World-Class Outcome]
● How Your [Service Provider] Is Ripping You Off And What To Do About It Right Now
● I Found A [Adjective] Way To [Get Incredible Outcome]
● See Why We Have An [Adverb] [Adjective] [Social Problem] In Just [Short Time]
● [Influencer Or Celebrity] [Emotional Reaction] [To Thing That Basically The Whole World Already Understood]
● Is This The World’s First [Good, Bad, Or Desirable Thing]?
● How To Survive Your First [Good, Bad, or Desirable Thing]
● Who Doesn’t Like [Somewhat Accepted Taboo]? [Unexpected Answer With Tease About Why]
● I Spent [Time] [Working Toward Goal]. I Just [Quitting Statement]. Here’s Why.
● I Don’t Regret __________. But Here’s What I’d Do Differently
● Would You Do [Unimaginable Thing]? I Just Did.
● Who Else Wants __________?
● The Secret Of __________
● Here Is A Method That Is Helping __________ To __________
● Little Known Ways To __________
● Get Rid Of [Problem] Once And For All
● Here’s A Quick Way To [Solve A Problem]
● Now You Can Have [Something Desirable] [Great Circumstance]
● [Do Something] Like [World-Class Example]
● Have A [Or] Build A __________ You Can Be Proud Of
● What Everybody Ought To Know About __________
● How To __________ Every Day
● How To __________ As a [Role]
● Give Me 30 Minutes And I’ll Give You [Desirable Outcome]
● Try These 5 [Tactics] For A Week, And Be Twice As [Productive].

Why the Right Team Will Transform Your Business

One significant trait that stands out with successful businesses is the simple factor of having the right teams behind them. It means that they take their recruitment process seriously. They use well-thought strategies to evaluate carefully each individual who applies to work with them. They do these tasks to ensure that they get the right fit to join their teams not just in terms of skills but character as well.

Why is it necessary to have the right team in place for your business? Well, having the right team will positively transform your business in many ways. If you have always been in haste with your recruitment process, here are six reasons why you need to slow down and ensure that you hire the right people for your team.

Reason #1: Time-saving elements 

Managing your team takes a lot of your time. A workforce that is dedicated to offer their best and display a good performance will facilitate your work. People who are self-starters don’t need you to remind them of what they need to be doing. The right fits in the team will collaborate well to ensure that they meet deadlines and drive results. It means that you only put a little time into managing them, giving you a chance to focus on growing your business the rest of the time.

Perhaps what can save you even more time is leaving the recruitment process to the professionals. If your business’ location is in Canada, for instance, you can partner up with a Canada PEO to help you find the best candidates in Canada. With their extensive network across the country, you can be sure that they can find the best fit for you in record time and compliantly. This strategy will save you the tedious recruitment task, allowing you to channel that effort to other elements of the business. 

Reason #2: Maintains your good name

Building a business reputation is very crucial for any business. If you are to attract people to your service and turn them to return customers, you need to be mindful of the experience you give to them. Your employees act as the middlemen between you and your business. If you have the right people in place, they will portray professionalism when dealing with your customers. They will offer quality service that will leave the customers delighted and spreading good words about your business. This factor will grow your reputation significantly, drawing more people to your business.

Reason #3: Builds strong teamwork

Teamwork, communication, and collaboration are very crucial keys for any team to be successful. These aspects are important because team members have to work together in harmony towards a common goal. However, for this to happen, all members need to feel connected or at least be they should be able to work together in solving problems and completing projects. These results can only happen if all individuals fit well in the company’s culture.  

When every team member feels at home with the rest of the team, working in that environment becomes pleasant. They can find happiness and job satisfaction, which are essential in growing employee engagement in the company. And when employees are engaged, you can be sure of increased productivity, sales, and profits for your business.

Reason #4: It is economical 

How does hiring the right people save you money? Posting job ads needs money. Communicating with new prospects takes money and time. Training new employees requires money. The list can go on and on. When you hire the wrong fit, it is only a matter of time for them to leave your company. Once they leave your company, that will mean lost sales as you try to replace them, as well as spending additional money in recruiting a replacement.

On the other hand, when you hire the right people from the word go, you avoid going back to the drawing board for a very long time. Hiring the right people right from the start saves you employee turnover costs.  But it also saves you the time you could otherwise be using going back and forth in the recruitment process.

Reason #5: Cultivates the best customer service

Hiring the right people will foster the best customer service experience. Employees who possess excellent interpersonal skills are the best fit for this section. And undoubtedly, giving the best customer service means growing your business success overall. The candidates must be aware that the top priority of your work delivery is keeping your customers content and pleased. 

Reason #6: A trusted team gives you peace of mind

Think of all the data that you possess, the passwords, Slack channels, social media accounts, even customer contact information, would you trust all that info to someone that will later leave? When you hire someone, you are immediately trusting them with all this data. Hiring the right people means you won’t have to worry about what you are sharing with them. 

Conclusion

Many say that your employees are the facets of your business to the outside world. In this case, you need to have individuals who are motivated to invest in your brand. These are individuals who are willing to grow their roles as your business grows. Their dedication and engagement are essential to transform your business positively. If you have been hiring following a hunch, the above points should give you a reason to be mindful of who you bring into your business.

QUESTION: What is your biggest challenge when it comes to finding the right person for your team? Share your comments and questions below. 

5 Ways to Maintain Cash Flow For Your Struggling Business in 2021

5 Ways to Maintain Cash Flow For Your Struggling Business in 2021

On top of everything else, 2020 has been a tough year financially for most individuals and businesses around the world. Many small businesses have lost the fight to stay open amidst the COVID-19 pandemic, and several larger organizations have had to make serious budget and staff cuts to survive. This has all led to many companies leaning heavily on their emergency funds and perhaps you as well running extremely low on your line of credit.

It all started off simple enough—stay at home, operate as best you can, or take a brief break while we flatten the curve. However, as the months have drawn on and life has not returned to normal, it’s become harder and harder for many businesses to keep their doors open. The second wave of the pandemic certainly hasn’t helped.

However, it’s not the end of the world if you’ve reached the end of your credit. There are many ways for you to maintain cash flow for your struggling business in 2021, and even fund it’s growth!

#1: Make Strategic Budget Cuts For Your Line of Credit

If you haven’t started tightening your belt, it’s time to do so now. You need to see how your company can survive on less money each month. 

The first step is to draw up an extensive list of regular expenses so you can see where your money goes, and where you can cut costs. 

The biggest damage to a company’s profit margins doesn’t come from once-off expensive items—it comes from the regular payments that could be reduced. Look at items you can remove entirely, such as subscriptions to services that are nice to have but not essential. These can always be reinstated when cash flow improves. Then look at where you can reduce costs; for example, switching to more affordable coffee and cleaning products. It’s time to make concessions, and this means pinching pennies.

#2: Put A Spending Structure In Place

This is the kind of policy that a business should have in place regardless, but it may need to be tightened up a little bit if your credit has run dry. You need to be very strict with what can be expensed to the company, and what is for personal expenses. However, explain to your employees why you’re making these changes, how making them will help them keep the company alive, and how they contribute to ensuring their jobs stay intact. Without employee’s support and understanding, your efforts will probably look draconian and very demanding.

When changing your spending structure, focus heavily on why the changes are being made, and how you hope they’ll only be temporary. Then make sure that the changes are clearly spelled out so that there are no mistakes that could cost money you don’t have. This step will also help to give you clarity on your monthly budget for expenses, giving you a better understanding of what you’re dealing with.

#3: Clarify Your Payment Policy With Clients

Again, this is a policy that should already be in place. However, it’s well worth reviewing and ensuring that you, your employees, and your clients are up to speed–and that your payment policies are suitable for the current economic climate. This way, the people expected to pay you know what to do, and those who are following up on payments will have a straightforward procedure to follow.

When you are in a situation where businesses are operating on a knife-edge, it’s even more essential to ensure that invoices don’t go unpaid, or payment gets delayed. Having no line of credit as a backup means that each payment coming in on time is crucial.

Your payment policy should cover:

  • Payment deadlines–you should always follow the same deadlines for each invoice. They should be on a specific date or by a specific length of time. Having the same conditions for each client across your company makes tracking invoices much easier.
  • Penalties and fees–it’s essential that you spell out what the penalty is for late payments and how it will impact the invoice. 
  • Terms and conditions–this shows that the deadlines and penalties are something you’ve instituted company wide, and not just for a specific client. Using the right language here will also illustrate that your policy is non-negotiable, and that you will not give any client special treatment.

In addition to reviewing your policy regarding payment terms and penalties for late payments, you can look at offering incentives for early payment. If you know you need to get cash into your business because you have no credit left, you can offer customers the option of a small discount for quick settlement terms. This is a great way to help keep your cash flow looking good, it encourages loyalty with existing clients, and may even earn you some new ones. Customers may well need the break of the reduced rate as much as you need the income in trying times.

#4: Investigate Business Loans And Investors

A line of credit is not your only source of extra income for a business. You can look at getting a loan from a bank or some of the less traditional (but still safe) lenders. Crowdfunding is another great way to bring in income if you’re struggling with cash flow, as is looking for investors to help you stay afloat.

Credit running dry doesn’t have to be the end of your business. It’s all about finding the right way to bring in extra funds. Ensure your business plan is watertight, your financial records are in order, and your business is a solid investment, then approach lenders for assistance. Even a short-term loan could be enough to see you through a rough patch, or to facilitate the growth you need to keep pivot your business and keep generating profits. 

Remember, a lack of credit isn’t the end of your business. It’s a push you need to investigate new ways to cut costs, streamline expenses, reaffirm payment policies, and seek alternative avenues of funding. 

SOLUTION: Shift your focus from credit to getting creative with what you’ve got.

#5: Try Bartering to Reduce Out of Pocket Spending

One creative solution for your struggling business when cash flow and credit runs dry is the age old currency of bartering. Coming up with new ideas is one way to think outside the box, but sometimes you don’t need to reinvent the wheel. 

You can simply do what our forefathers perfected and trade your services for goods and services you need. There are various bartering networks you can google. One we recommend is Better Business Barter Club. You can contact the member chairperson at BucksContractors@gmail.com.

QUESTION:  Which of these tips could you implement IMMEDIATLEY to maintain cash flow for your struggling business? Share with us in the comments below!

How Leaders Can Change Lives Of Others

Effective Leadership for Business Owners Can Change Lives

An effective leader knows that inspiration works better than demands, and people respond more positively to change when they understand the goal. 

Demands can lead to resistance, while transparency and a sense of purpose can inspire people to follow willingly. 

Anyone who has worked for a demanding boss understands the impact it can have on one’s life, both inside and outside the office. 

Effective leadership for business owners who cultivate healthy and mutually respectful relationships with their people, make the work more enjoyable and fulfilling for everyone.

 

Confidence and Courage

For a team to be successful, its members need to have confidence in their abilities and know that they are making a positive contribution to the effort. That confidence may come from being allowed to make mistakes and learn from them, without fearing career-ending consequences. 

Enabling people to spread their wings not only builds self-confidence, but the courage to take on new challenges and share their ideas. These strengths will serve them well throughout their careers. Thus creating a stronger leadership for business owners

 

Support and Development

A good leader will recognize the potential in others. They will see beyond the tasks on a person’s job description, provide the opportunity to develop their skills and support their career growth. In return, they will have gained a lifelong ally. 

Though it’s easier to limit a person to the role you hired them for, a good leader will nurture an employee’s growth, even if it means that they might eventually move on. Interacting with people as individuals and trying to accommodate

their unique personalities and styles of communication is an essential skill for an effective leader. 

They must possess the necessary people skills to handle any situation professionally. Developing effective leadership habits takes commitment. It also takes time, effort, and real-life experience. Building a leadership for business owners

will not be easy and will take perseverance.

 

Empower and Encourage

Mutual trust is critical within a successful team. Effective leaders demonstrate that trust by allowing people to do their jobs without micromanaging them, which encourages them to take ownership of their work and responsibility for it. 

They empower people by giving them the latitude to make decisions and then trusting their judgment. Successful leaders are as transparent and honest as possible with their people and stand behind them.

 

Vision and Purpose

Leadership for business owners is great, but when a team that is led by someone who is committed to their life’s purpose, it can bring about positive change in both its members and society in general. 

Effective leaders inspire people to share their vision and a sense of purpose. As a result, they will strive to achieve your mutual goal because they want to. 

People who learn to approach their work in this way are more likely to become future leaders who will have the opportunity to bring about positive change. 

 

Strength and Honesty

 Leadership for business owners know adversity requires both strength and honesty. If a company has hit a rough patch, the employees usually know it, so telling them everything is just fine may result in a lack of trust. 

If a situation is dire, an effective leader will be as honest as possible about what it could mean to the team and how leadership plans to reach a solution. Armed with the truth, people will usually help to put things right, and they’ll do it out of loyalty.

Effective leadership for business owners can make life better for those who follow them by providing opportunities to learn and grow. Showing confidence in people will help them to have more confidence in themselves and encourage them to keep striving for more knowledge and improved skills. 

If people understand a leader’s vision, values and purpose, they will be more likely to follow willingly. And with a common goal, the journey can be a lot more rewarding. 

Leadership for business owners skills are not always innate and may require some additional study. Whether through instructor-led courses, books or with a mentor, acquiring these skills is an important part of effective leadership. The tools are available. It just takes some practice and commitment.

 

 

Outsourcing Marketing vs Hiring a Marketing Team

Sigh! It can be incredibly frustrating to feel like the vision you have for your business is moving excruciatingly slow.

You have zillions of brilliant marketing strategies. The problem is there is never enough time in your day to execute or manage it all especially without a marketing team.

I have found the biggest cause is from something called the Marketing Strategy Execution Gap. You need more soldiers on the ground to deploy multiple marketing strategies to free you up to shine as Chief Visionary. You need a marketing team.

“Without vision, the people perish.” ~ Proverbs 29:18” “Without marketing, the vision will perish.” ~ Yoon Cannon” Click To Tweet

You probably already tried outsourcing to a marketing agency only to be disappointed with the results. According to digital.com, 76% percent of small business owners report facing marketing challenges.

The core challenges of marketing fall into these 5 areas:

  1. Generating traffic and leads
  2. Training your team to generate traffic and leads
  3. Lack of resources (budget / people / time)
  4. Hiring talented people
  5. Social media

I mean, starting a business is hard enough. Can’t these leads just come you? You have a great business idea, right? You should be overwhelmed with leads, right?

Wishful thinking.

After All, There are amazing musicians who, based on their genius of talent, should be worldwide superstars. But instead, they starve and struggle for decades because they were never ‘discovered’ by record labels who can market the heck out of them.

Your genius business idea is no different. Doing all the marketing yourself should no longer be an option.

As the visionary, how will you close that ‘Marketing Strategy Execution Gap’?

  • Option 1: Outsource your marketing to a bunch of freelancers or to a marketing agency.
  • Option 2: Hire your own in-house marketing team.

Which is better for you? …

Hear From 11 Entrepreneurs On Outsourcing or Hiring In-House Marketing Team

 

I’ve rounded up 10 small business entrepreneurs to weigh in with their opinion on this decision. Find out the pros and cons they have experienced with outsourcing vs hiring an in house marketing team. At the end I will also share my own experience from everything I have tried over 26 years of being an entrepreneur to help you make a more informed decision for yourself.

  1. When you know it’s time to outsource your marketing

    Kymberlie Dimoz, CEO Of Lighting Rod Agency
    Outsourcing is perfect when your business is making a healthy profit margin Click To Tweet

Kymberlie Dimoz shares “outsourcing is perfect when your business is making a healthy profit margin but you haven’t quite yet realised your potential..”

 

  1. Benefits outsourcing your marketing can offer.


    Ambroise de La Gorce, CEO/Founder Of Openinno
    @OpenInno Outsourcing at the very beginning of the business can offer more flexibility. Click To Tweet
     

Ambroise de La Gorce, CEO/Founder Of Openinno shares, “Outsourcing and in-house marketing both have their pros and cons. Each option can be better than the other in different situations depending on numerous factors, including type of management, marketing tools used, sprints management, business stage.

In my opinion, outsourcing at the very beginning of the business can offer more flexibility. Recruiting in-house is necessary when the product/market fit is validated, to give more stability to the business. Then outsourcing 20% of the team or so when scaling the business can be interesting to gather the resources we can hardly find on-site.”

  1. Advice on hiring in-house marketers.

    Kerry Maybank Owner Of Strategic Links
    Have team members that are great at marketing.. Click To Tweet

Kerry Maybank shares, “I mostly do my own marketing, but I have team members that are great at marketing and create more of the significant pitch documents for us.  I also have gotten free advertising by doing interviews with the media.

My company does not have employees.  We have team members.  People come onboard with exceptional talents in particular areas of the business that significant interest at the time.  Sometimes we provide equity if the need is that great or we barter and provide their companies something in return based on our expertise.  It keeps costs down, and creates mutually beneficial relationships, while increasing the exposure of our firm.”

David Shares, “We keep our marketing in-house because it allows us to harness our own data and learn to understand how our customers interact with our business. Combining marketing customer data, building segments, and then activating those segments in your communication is something that really draws growth.”

  1. Hiring in-house marketing employees is a lot to manage.

    Peter Rigas Founder Of Fini Cutlery You need both Click To Tweet

Peter Shares, “You need both. You need in house because no matter how much you pay an outside agency or group of freelancers, no one will care about your business or know your products/services better than you and your staff. However, there is so much to manage and oversee that you need outside agencies that specialize in the various verticals.

  1. How we balance both outsourcing and in-house marketing team

    Mark Walerysiak Jr. Founder Of Giverrang

    @marktuff Have someone inside the team and as close to Don’t try to do all your marketing in house the product as I am. Click To Tweet

Mark Walerysiak Jr. shares, “I’m early stage, and do all the marketing myself (at the moment). I could see the benefit of outsourcing particular tasks related to content / SEO. The more weedy stuff. But when it comes to telling compelling on-brand stories I would prefer to have someone inside the team and as close to the product as I am. When you eat, sleep, and breathe a product (and not worrying about other clients), you can communicate much more passionately about it in just about any form, and I think the audience can pick up on that. So the preference would be in-house if it’s doable.”

  1. Don’t try to do all your marketing in house

    Laurie Kessler CEO Of The Celebrity Source
  2. @celebritysource Outsource for marketing tactics outside of our areas of expertiseClick To Tweet

Laurie shares, “Our marketing needs are managed with both internal and external resources. Our internal team has a great deal of experience in marketing and PR – so we can typically tap into our own knowledge and experience for basic initiatives like drafting corporate communications and pitches, social media posts, email marketing, etc.

We outsource for marketing tactics outside of our areas of expertise, or if our bandwidth is tight – such as more complex social media campaigns, SEO and digital advertising.

Gary Shares, “I’ve always done my marketing in-house. I’ve only worked in or ran marketing companies, so outsourcing my marketing would be really weird, lol.The one piece of advice I would give entrepreneurs that feel weary about or otherwise unable to fully carry out marketing duties, still be involved. As a consultant, part of my job is to learn as much about my client’s brand as possible because the person or people leading the business know the most about their brand. I can help a client focus. I can help a client develop. However, no one can create someone else’s brand on their own.”

 

Staci shares, “As a new one-woman consultancy, I’m doing it all right now — marketing and business development as well as everything else involved in the business!

Honestly, while that requires more time and effort from me, I think it actually helps build trust and is part of my business values. With me, it’s personal, and my clients know that they can trust Blue Moss for personal dedication and utmost quality.

 

 
  1. We do all the outreach to prospects.

    Keith Kirkpatrick Principal & Founder of 4K Research & Consulting 

Keith shares “I generally do not outsource marketing, as I find it easier to directly reach out to potential clients. Additionally, much of my work comes through referrals, anyway.”

 
  1. Just because you know how to do marketing, doesn’t mean you should all be done by you..

Yoon Cannon Founder, Paramount Business Coach Host, Biz Growth Doctors Show

@yooncannon Make sure your marketing project manager is a well-trained Full Stack Marketer. Click To Tweet

I have done all three options throughout my 26 year  journey owning 4 different businesses. I once did all the marketing myself. But I quickly found that not to be the best use of my time as the Chief Visionary and Strategist. Just because I know how to do the marketing, doesn’t mean I should be the primary person executing it all. So, then I spent many years outsourcing to freelancers.

While it’s a good choice for one time projects,  the danger is you end up spending way too much time vetting and project managing freelancers, which prevents you from acting as the Chief Visionary and Strategist. The other common pitfall with outsourcing is the temptation to hire the lowest priced freelancer. Like with anything else … you get what you pay for.

You risk super sloppy mistakes and oversights that cost you your brand’s reputation. Here’s an example a realtor friend of mine forwarded me. She subscribed to be on an email list from a marketing provider in her industry … to her surprise here’s what the email read:

 

My realtor friend was so confused! …. Here she thought she was signing up to let this marketing company do her social media posts and email marketing for her.  Instead of getting info about the done for you marketing services she was expecting, an email template and an email from a weight loss company came instead. Certainly people do make mistakes. But, when you outsource to the cheapest provider, sloppy mistakes just seem to occur in high frequency.

Marketing is not a mindless task any monkey can do.

When I exhausted my patience for chronic sloppy mistakes from outsourced VA’s and freelancers I decided to let go the reigns and hired a marketing agency to take care of it all A-Z. I hoped outsourcing the majority of my marketing to an agency would remove the project managing off my plate.

I hired Several different agencies, but in each experience I didn’t see the ROI to renew. Instead, I discovered the project managers who were assigned to me were skilled at project managing (which is a good thing), but so many critical details got missed because they weren’t skilled enough in all things marketing. [CONTEXT] There are many great marketing agencies out there who have highly skilled marketers as project managers, but these agencies are often geared to Enterprise size clients, not so much for the SMB community.

What I do now, and my advice to other SMB’s (small-medium business owners) is the 70-20-10 mix.

  • 70% of our core marketing is done in-house
  • 20% is outsourced (one time projects or a specialty area we don’t have in house yet)
  • 10% still is done by me (like recording videos, giving interviews)

I finally found the key to taking project managing off your plate as a small business owner is to make sure the project manager is a well-trained Full Stack Marketer.

Conclusion

Ok … there you have it. You just heard from 11 of us about our experiences and opinions on whether it’s better to outsource your marketing or hire your own in-house marketing team.

Whether you decide to outsource or hire in house, the next set of decisions you’ll need to make are things like:

  1. Who should you hire first?
  2. What’s the going rate for this and that?
  3. What is the best marketing strategy they should be implementing for your business?
  4. Where can you go to find marketers who know what they’re doing?
  5. What should you look for when hiring your marketing person/team?

My answer to all of the above questions is this: 

It depends.

I would answer all of these questions differently depending on each unique business owner, bandwidth, budget and brand. If you want to get clarity on best way for you to eliminate the marketing strategy execution gap in your business why not take me up on my free offer? For a limited time, I am offering a FREE 45 Minute Strategy Call to help you work through this.


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QUESTION: What other questions would you add to the list of 5 above? Share your comments and questions below.