Tag Archives: Return on investment

Be a giver, not a taker, on social networks

5 ways to be a giver, not a taker, on social networks

Small-business owners should try to think of their social media return on investment in terms of how much they give back to their community, not in terms of how many “likes” or sales leads they receive, writes Jay Palter. By curating content, commenting on other people’s work and offering recommendations, “we promote ourselves by promoting others. We attract attention to ourselves by shining a light on others,” Palter writes. The Globe and Mail (Toronto) (tiered subscription model)

Set a “giving budget” for your social media activities and actually identify some goals. How many “likes” do you want to give each week? How many times do you want to comment? If you’re connected to your clients on social networks, you should be setting a giving budget specifically for them.

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Making Small Changes to Grow Your Business

The 10% Strategy: Growing Your Business by Making Small Incremental Changes

The most effective way to increase your profits is to understand every single cost in your business. Pay particular attention to your marketing spend, is it delivering results or are you paying for services you are not using to their full potential? Do you really need that subscription? Be brutal, if it is not generating an return on investment cut it out.

Know Your Numbers If you are not monitoring the numbers of your business, you are not managing them. Too many small business owners leave their accountant to look after the financial side of their ……

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