White papers are more important than you think

Do "White Papers" actual drive sales? And if so, when are white papers appropriate? These are not insignificant questions given that a fair amount of time and effort go into their creation.

Why Create a White Paper?

The term white paper refers to an educational report roughly about four to 10 pages in length. In general, these reports are geared towards helping your potential customers solve a problem. White papers commonly summarize survey research or delve into a product or service relevant to a particular market segment.

As with most marketing collateral, white papers help attract qualified leads. Which is often why interested parties must exchange information about themselves in order to obtain such material. It essence, such material is "gated" to the user until they meet this precondition. In contrast, some white papers are widely distributed for the sake of helping establish a company's expertise on a particular topic. And as a result, they build confidence with potential buyers.

White papers are occasionally used by business-to-consumer companies - but they won't be called by that term. That's simply because the term can seem rather intimidating, almost as if a large, comprehensive study is at hand. As a result, many business-to consumer studies are labelled as a "report." And, as might be expected, these reports are somewhat shorter in length.

In contrast, business-to-business companies often employ white papers. Especially where expertise in a particular field is critical. Not incidentally, they're a frequently touted in such fields as telecommunications, biotech, manufacturing, etc. In In the end, white papers can help educate your audience and serve to subtly show why your company's expertise is critical for a job.

Do White Papers Drive Sales?

Although somewhat dated, a 2008 Eccolo Media Technology Survey found that nearly half (44%) of technology buyers found white papers to be very influential in their decision-making. In contrast, product brochures had the least influence upon decision-makers. Indeed, white papers are the most frequently used marketing collateral employed by companies (68%). And perhaps contrary to expectation, respondents noted that videos and podcasts were far less used (28%).

Not incidentally, white papers influence buyers very early in their decision making process. More than half of respondents (56%) noted that they review such material in the "pre-sale" stage the buying process. Obviously, when buyers have a wide variety of options to pursue, both white papers and case studies can be critical in making or breaking a future sale.

Should small businesses focus more marketing dollars on mobile marketing?

Responses from a number of recent surveys have revealed a strong preference from marketers for email marketing over and above other types of digital marketing tactics. This was again confirmed by a September survey done by Ascend2 and its research partners. In this survey marketers ranked email marketing as "Most Effective" (54%), while only 11% of marketers surveyed thought email marketing was "Most Difficult." It would naturally follow then, that most marketers would highly encourage their clients to pursue email marketing tactics over other types of digital marketing. Website and blog marketing and SEO marketing were also deemed "Most Effective" by 48% and 47% respectively. Social media marketing was ranked "Most Difficult" by 49% of respondents. Mobile/SMS marketing had the lowest overall ranking with only 9% of respondents rating it "Most Effective" and 34% "Most Difficult."

It would seem, at this time, that there will not be a big push for mobile marketing coming from most marketers. From their responses, they see it as not worth the effort.

But is it wise for businesses to overlook mobile marketing given how plugged in consumers -particularly those in the Millennial and Generation X generations - are? The fact is, people of all ages, not just that coveted demographic of 18-34, are daily becoming more dependent on their smartphones and their mobile devices to navigate numerous aspects of their lives. Around half of all internet searches are done on mobile phones. And the existence of smartphones and mobile connectivity is itself spawning new industries that people are seamlessly incorporating into their lifestyles. The popular and controversial sharing economy app Uber relies upon mobile technology to function. So does Pandora.

When forecasting marketing trends for 2015, ReadyPlanet.com heavily emphasized the importance of mobile media. While some industry experts have been loudly declaring the importance of mobile marketing for years, this message appears not to have reached the marketers in the trenches. But as with all things, there is a tipping point, and it could soon be reached. Currently there is significant spending on mobile marketing among large corporations, but as of now it seems to be poorly incorporated with other marketing efforts and not a part of most's businesses overall picture.

If your business is spending on digital marketing, it is certainly worth reexamining how much of this budget is allocated to spending on mobile marketing and if mobile marketing is functioning alongside your company's marketing as a whole. This is not a fad. Next time you are out in public, look at everyone surrounding you and count the smartphones. Then ask yourself if you're focusing enough of your business's marketing budget on mobile. The answer is very likely no.

How small businesses are grappling with the Affordable Care Act a year later

Last October 1st, the website for the Affordable Care Act healthcare exchanges premiered, and many small business owners hoped that the new system would provide some relief for the staggering costs healthcare insurance was laying across their shoulders. Unfortunately, the website rollout performed more poorly than expected and the implementation of the new healthcare law - and any relief it would give small businesses - was significantly delayed. Because the website didn't function, not enough people were enrolled by the target date in December, and the administration pushed back numerous deadlines and weakened compliance regulations. How this will play out for individual business owners, we will only discover with the passage of time and as the effects of the new law come down this compromised pipeline.

At this time the requirement that small businesses must provide insurance coverage to their full-time employees only applies in 2015 to businesses that have 100 or more employees (full-time being defined as working an average of 30 or more hours per week). The cost of this insurance must also be less than 9.5 percent of their income. Businesses have the option of providing their full-time employees with coverage or paying a per-employee assessment fine. In 2016, businesses with over 50 full-time employees will have to be compliant or face paying the fine.

Since 96 percent of U.S. businesses have fewer than 50 full-time employees, most small businesses will not have to worry about Affordable Care Act compliance for the foreseeable future, although many businesses have cut either hours or workers in anticipation of the higher costs to them either way. Ironically enough, many government jobs in schools, city government, and libraries have also been cut because of budgetary constraints.

Meanwhile, the costs of both healthcare and health insurance continue to climb. Many employers already offer their workers insurance benefits and are finding it challenging to pay higher costs in an economy that continues to stagnate. Many of these are choosing to offer lower-cost, higher-deductible plans to their employees. Thirty-two percent of firms will only be offering high-deductible plans, shifting more costs to their workers. As long as workers are offered the option of a plan that meets Affordable Care Act guidelines, businesses will not have to pay a fine - regardless of whether employees choose to enroll in these plans.

Some employers are offering incentives for workers who voluntarily shop around for cheaper healthcare options or who take part in lifestyle betterment programs or utilize their preventative care more. High cost, high benefit programs will be taxed beginning in 2018, so employers who have provided their workers with "Cadillac" plans have incentives to either educate their workers on the costs of these plans or slowly transition them to new health insurance realities.

Other businesses have decided to forego offering insurance altogether and pay the fines which are less expensive than the cost of health insurance. As yet there is not consensus on what the best options are as the administration continues to delay mandates and economic conditions change.

Online remarketing as a business tool

If you've (almost) purchased an item from Amazon or some other large retailer lately, you might be forgiven for thinking that the retailer is tracking you online and asking yourself, "How does the internet know I almost bought [insert item here]?"  The answer involves the computer cookies (online trackers) in your browser. They allow for remarketing, a type of advertising that gives you "a chance to reconnect with visitors who have abandoned your site without converting through Display Network advertising." 

With remarketing, an advertiser can promote specific ads related to the products or interests that online visitors have already expressed. For undecided or procrastinating visitors, remarketing can help remind them about products they previously were curious about. So for example, a visitor who abandons her shopping cart with a product in it will see the same product in a advertisement elsewhere online - with a discount coupon attached. Sellers only pay for the ad when someone clicks on it. 

People shop all the time for products they are not entirely certain about but could easily, with a bit of a nudge,  be persuaded to buy. A garden tool may seem like a pricey splurge on Amazon, perhaps, but more like a necessity when that gardener is reading a popular garden blog or chatting with fellow vegetable enthusiasts in a Facebook group.

Implementing remarketing is fairly simple. First, a business owner must sign up with Google AdWords and create an advertisement. Once this ad has been created, the retailer can target different audiences for remarketing.  So instance, a retailer can serve ads to potential customers who have visited their website as well as those who have already purchased their product. Or they may even target the former, excluding the latter. With Google Adwords, a retailer simply needs to select the audience that it would like to seek out, pinpointing for greater success. 

Remarketing is an especially effective advertising tool for those people who wish to improve their shopping cart abandonment rate. It's an unobtrusive tool. Most people will not even register this gentle reminder, making it more like a note from Mom rather than a bounty hunter's chase. But, if used correctly, it will improve your conversion rate, and it should be employed by anyone who believes AdWords is an essential part of their marketing efforts. 

A business owner essential: properly vetting employees

What do potential employers have to do to properly vet an employee? Obviously carefully constructing a set of interview questions to gauge whether the applicant is a good fit is paramount. Small businesses in the midst of reviewing applicants will generally ask questions relating to previous job experience, personal characteristics, and skill sets. Indeed, asking an applicant how they found out about an open position can very revealing. Applicants simply looking for a job will typically reply that they found the position after viewing general job listings. A better bet is to find an applicant who has taken the initiative to seek out your company. They generally have a stronger interest in helping your company achieve success.

In order to find the right fit, strong applicants should be amenable to the company’s culture.  Likewise, employers should ask applicants what they like about their current job, what their preferred career path looks like, and how their skill sets have might be helpful in the position.

However, properly vetting an applicant requires more than an interview or even calling references. If an applicant gives satisfactory answers to an employer’s interview questions, time and energy can be expended on the next step in the process. That is, an employer should take a close look at an employees prior connections, credit history, arrest record (or lack thereof), certifications, and of course, employment history. However, a potential employee must sign a consent form allowing the company to conduct this kind of investigation.

If the position your company is hiring for requires multiple, discreet levels of vetting, a professional employment agency can be hired to conduct background screenings for applicants. Additionally, if your business needs to protect against any rist, a surety company may issue a bond (a surety bond is a promise to pay one party a certain amount if a second party fails to meet a contractual obligation.) A bond protects the payee against any kind of loss if the payers fails to meet an obligation.

Most interviews will not these sorts of require advanced levels of checking, but, on the other hand, an untrustworthy or, heaven forbid, criminal employee can cause a large amount of damage to a company in a small period of time. Due diligence is always recommended.

Why your business needs insurance

When creating a business the last thing a business owner wants to think about is additional, seemingly unnecessary expenses - especially if those expenses do not contribute in any way to the bottom line. However, all business owners face risks in one form or another, so protecting both their investment and personal assets is essential. 

A forward-thinking small business owner understands the various risks that may befall his business. Accordingly, he wisely takes proactive measures to mitigate against any financial loss arising from such events.  What risks may occur during the course of normal business operations? It varies, of course, depending on the type of business operations involved, however insurance coverage exists for property damage, legal liability, and employee-related risks. When people think of insurance, they generally think of items being insured against theft or damage. A jewelry store would need to be able to cover for the loss of stolen diamonds, for instance. But physical property is not a business owner's only vulnerability. Consider what might happen if one of your employees is injured on the job, a natural disaster occurs, or a business partner dies.  Protecting your investment requires purchasing enough insurance to cover your assets, material or otherwise. Although a business owner's personal assets are protected if the business is a limited liability company (LLC) or a corporation, neither is an adequate substitute for liability insurance to cover a business from losses. 

Additionally, we live in a very litigious society where nothing truly disastrous must occur for someone to file a lawsuit. The expense of hiring a lawyer to fight off nuisance suit can be the different between a start up business in the black and one in the red. Consider your customer base - is it composed of people who might try to play and win the lawsuit lottery? If so, you must insure.

Even if a business owners decides against seeking insurance, financial lenders and investors will often require various forms of insurance (fire, flood, life) before any business transaction occurs.  They simply do not wish to share the financial risk associated with any unexpected events that may befall a business. 

State governments also require businesses with employees to have a certain amount of some kinds of insurance to cover employees who seek unemployment, disability, or workers' compensation. Companies that employ road vehicles for business operations are generally required by the state to purchase commercial auto insurance as well. 

Do your homework. If you run your business yourself, at home, and do not have merchandise or stock to sell or store, your insurance needs may be few. But for all the other business owners who make and sell products, employ other to help, and rent or own facilities to do so in, you need to consult an agent about what coverage is best for your needs. 

Making adjustments for best workplace environments

As discussed before, the newest trend in office design is the collaborative open layout in which employees are encouraged to work together and share ideas.  This new trend stems from the surge of Millennials into the workforce using technology continuously.  An open workplace reflects the environment of a classroom or coffee shop in which employees bounce ideas off each other and think creatively by communicating with those around them. Open environments require smaller rental space commitments, and are less expensive to clean, as well as heat and cool and so are popular with business owners cutting costs. Although the open concept may work well for extroverts who are inspired by visual interaction and energized by being around others, for introverts these surroundings may prove to be more a hindrance to productivity than a motivator.  

There is a distinct difference between the way introverts and extroverts tend to function in office space.  Some extroverts are extremely productive and creative when they are surrounded by other employees throughout the workday; but many introverts need a quiet office to achieve the greatest productivity.  There must be a way for both types of employees to achieve optimal performance at work.

It's a good idea for businesses to periodically assess what kind of social environment their employees are creating. Study work patterns, and look for problematic workplace interactions (these are often not hidden!). Survey your employees both formally and informally. At least some of the problems your business experiences may stem directly from workplace arrangements, and those can be surprisingly easy to change through desk swaps or targeted scheduling. 

Some businesses also allow their employees the option of working from home.  The employer is still able to monitor the employee’s progress day to day through various tools such as telecommunicating, Skype, or email.  Another option is to provide both an open concept layout for those who work better in a group setting and a closed, quiet room for those who work better alone.  In a decently sized office space, a separation of rooms can be achieved with removable walls and office furniture that is easy to move.  
Conference rooms are another space to use for group work. They often go unused and could be added to the mixed of differently used work environments.  

While Millennials have a reputation for being more comfortable in groups, there are, of course, plenty of introverted representatives of Gen Y. Workers from other generations will also appreciate the option of being able to work in private and focus entirely on one project at least part of the time. Using your office space in the best way to maximize productivity of your employees is extremely important both for productivity and the maintenance of healthy work relationships. Providing a space that all people feel comfortable will benefit everyone in your company. Do not be afraid to try a number of solutions in your attempts to create the best arrangements. Long term workplace harmony is worth a bit of construction dust.