Archive for

How to Perform a Business Bank Account Comparison

With all the financial institutions in the world clamoring for more and more business, hype is at an all-time high in the financial district. Terms and conditions that are applicable to certain trial dates can lead to confusion once these “free trials” end and can leave the business owner feeling used and defeated with an account that no longer suits their needs. Fortunately, there are a few guidelines to follow to ensure that your company gets the account it needs by performing a bank account comparison.

Company Size and Business Account Options

The business checking options will vary depending upon the size of your own. Incentives that hook small businesses aren’t necessarily applicable to big corporations and vice versa. Each size of business requires a different set of account options in order to optimize financial support and services.

Small businesses tend to make fewer transactions than larger corporations and therefore greatly benefit from a preset limit of free transactions. Typically with this type of package, once the preset limit is reached, a small fee is charged to each applicable transaction thereafter. Some business accounts even offer an interest earning option that is beneficial to businesses with low to moderate transaction volume. Conversely, larger businesses require a moderate to high number of transactions and usually pay a small monthly fee to allow for this difference.

Minimum Balances

Small business accounts tend to forgo monthly minimum balances but usually sacrifice interest earnings for this advantage. Moderately sized businesses usually have accounts that require a minimum daily balance or a monthly averaged balance that exceeds a predetermined limit. Minimum balances for larger businesses tend to be slightly more complicated; these can be determined by an average daily balance, average combined deposit balance, or average combined deposit balances and outstanding credit balances. The specific amounts are different for each institution, be sure to contact individual banks for detailed information.

Maintenance Fees

Many business owners neglect to factor in maintenance fees when performing a bank account comparison. This usually isn’t a big deal for a small business account since most do not have a monthly maintenance fee. However, moderately sized and larger businesses must take these fees into consideration when comparing business accounts. Nowadays, most financial institutions only charge maintenance fees if the balance falls below a predetermined minimum limit. Once again, the amounts of these fees vary by institution so be sure get an accurate number when comparison shopping for an accounts.

Business Type

Even though you may own a certain sized business, not all accounts suggested for that sized company will suit your needs. Some business accounts are geared toward non-profit organizations, community groups, and public agencies while others lean more toward small or growing businesses. Research and investigate each business account you consider to determine the right business checking account for your company.

Business bank account comparisons can be confusing and daunting chores; however, if you take into account your business size and style with business account options you desire, it should be a relatively easy task to choose a business account that will carry your company well into financial security.

Is It Time to “Remodel” Your Business?

I’m hearing a lot these days about business reinvention. And it certainly seems like a great idea. But I think that a complete business overhaul is not only unjustified much of the time, but can be a risky move.

So instead, I’d like to propose the idea of a business “remodel”, which is more along the lines of a home remodel. When you remodel your home, you generally keep the existing structure and foundation. The changes are distinct for sure, but do not involve knocking down your entire home. Rather, the remodel may involve adding an addition, repainting a room, finishing a basement, etc.

Likewise, you can remodel your business in distinct and powerful ways that cause a huge shift in your delivery of services, income stream, target market, or visibility as an expert. But a business remodel needs to be justified, strategic, and executed in such a way that the remodel doesn’t cause too much turmoil in your business. When you remodel a home, for example, it needs to be done in a way that causes the least disruption to your living environment. Yes, you are willing to suffer some inconvenience in the short run knowing you will wind up with a beautiful newly remodeled home. But you wouldn’t plan a remodel that forces you to live in absolute chaos unless you can move out during the construction and find another place to live. Easier said than done!

With your business, you can’t necessarily find a new business “home” while conducting a business remodel because you still need cash flow. Sure, there are exceptions for those business owners that saved a ton of money to fund a remodel, but even in that case, it would mean dropping out of the business for a temporary period, which is not going to leave you top of mind with your target market.

So what is the best way to approach a business remodel and what might it include? Here are some tips and guidance.

  • Take Stock – Approach your business remodel in a strategic manner by taking stock of where you are in your business at present, and where you’d like the business to be in the future. Assess what you love about your business, what is working, and what brings you and your clients success and results. Also, pay serious attention to what is no longer working, what you have outgrown, and what your clients don’t seem to need or want anymore. Only when you have done this business assessment will you be in the right frame of mind to determine what shape your business remodel will take.
  • Blueprint the Remodel – Just like you would with a home remodel, you need to draft a blueprint for your business remodel. Add what the remodel will include, how long you expect it take, what players need to be involved, how much money you need to finance the remodel, etc. Consider getting assistance from a trusted advisor during this stage. Approach the blueprint like you would a business plan so that it can serve as the framework for the remodel during the weeks/months/years of the remodel.
  • Add On – One way to remodel your business that is safe and smart is to actually add onto it. This can be in the form of an additional income stream like a new service offering, product, or program. It can also be achieved by partnering with another business owner to engage in a joint venture together. It can take the form of offering or joining an affiliate program. The list is as long as your imagination, and what is the best fit for your business.
  • Take Away – A business remodel can also include taking something away from your business that you know is not working, is draining your energy or your bank account, is not a big seller, or you just plain don’t love offering anymore. In business, we often keep saying yes and piling up things. But a smart business remodel can be about saying no and streamlining or micro-focusing on what truly works, and brings you and your clients great results.
  • Thing Big, but Start Small – Once you get the idea of a business remodel in your head, it is hard not to get excited and maybe a little carried away. It is great to be excited and have passion around your business remodel. In fact, go ahead and think big! But then come back down to reality, and start small. Take the remodel one step at a time. Don’t bite off more than you can chew or your remodel will crash and burn.
  • Mind Your Existing Business – Another common problem with a business remodel is that while you are in the process of remodeling, you neglect your overall business. Make sure that you are still “minding the store” while remodeling. It is easy to get caught up in the remodel, as it is very exciting and usually evidence of where your future lies. But unless you have unlimited funds and a celebrity status, your clients most likely still want to buy from the business you have now. If you absolutely want to be free of the business you have now, then realize that you are not just remodeling, you are reinventing your business! And that is a horse of a different color. If that is what is truly happening, then you will be following a different path. You may need to close shop altogether, sell your business, completely revamp or rebrand it, or get employees or independent contractors to run it for you.
  • Roll Out Your Remodel- At some point, your remodel will either be complete, or at least far enough along, that you want to officially roll it out and shout it from the rooftops. But consider that you may want to go public with your remodel even sooner than that. Getting people involved in your remodel can be a great strategic decision. In fact, you can engage your clients in the remodel by asking them to assist in some way. For example, let’s say the remodel is to add a service offering. You can survey your clients (and warm prospects) well in advance to see what service offering is missing from your business that they desperately want and need. There are many other ways to get others involved in your remodel, but make sure you do so wisely so you don’t scare your clients into mistakenly thinking that you may be jumping ship or abandoning them.
  • Enjoy the Remodel Results - If you approach your remodel wisely and execute it strategically, you will be able to enjoy the results – and so will your clients!

Viral Advertising Business Performance

  1. Why use viral advertising strategies in your business marketing efforts.
  2. Using shock therapy to implement an online advertising campaign for your business.
  3. Using viral advertising in your social media marketing and Facebook Fanpages will excel your results much faster.
  4. Don’t shove your advertising message down their throats, let it go viral naturally.
  5. Present unique and creative advertising campaigns to increase traffic and expose new prospects.
  6. Creating a viral epidemic of buyers is your main business goal with your advertising strategy.
  7. Learning to leverage your advertising budget for sustainable momentum.
  8. Establish a success formula that can be repeated in your business viral advertising over and over again.
  9. Add the most important ingredient to your advertising campaigns and that is creativity.
  10. Be prepared to embrace new technology, software and APPS in your marketing strategy.

1. There is nothing more effective in promoting your message as a good viral advertising campaign. Viral advertising is designed to use the power of many and inspire others to promote your message for you. This is simply “word of mouth” advertising, is amazingly effective. A business owner can start a viral advertising campaign with no money invested, and let the online community spread your message like wildfire. You can now save advertising money that you were spending on newspaper ads, flyers, door hangers, and even TV commercials. Viral advertising is estimated to be 500 and even up to 1000 times more effective that a regular ad campaign.

If you can learn how to express an idea with commitment and dedication that has an emotion attached to it, you will get people’s attention. It doesn’t matter if you are a madman or idiot, even bad press gets good press time. You can’t please everyone but you can get an emotional reaction out of most people, when owning a strong opinion and sharing it. Being neutral in your viral advertising will not bring you in the sales. Have something to say that will impact their life, or at least make them react a bit. Don’t worry about whether or not they love you or hate you, just be confident that your product is worth their attention either way and stay committed to gaining their trust.

2. Get your business noticed by shock marketing, state something completely unexpected that will make them stop and read more. Being dramatic and doing something out of the ordinary with your product gets attention. Are you just marketing advertisements, or are you marketing an extraordinary exiting story about your product. If you Ad is interesting and highlights your product in a subtle way, you will keep people’s attention longer, and get closer to bringing them to the “I want” it stage. Viral advertising is 100% about emotions, so take them by surprise and do something totally unexpected.

3. Set Up Exciting Viral Content in Parts and then sequels, where the viral advertising message continues.

Ever hear of Part 1, Part 2 and Part 3 – once you create Part 1 they start looking for where do I find Part 2 as they want to know the end of the story or the end of the feature comparison prompting them to purchase your product. Make sure you keep their attention once you have it by providing a “Call To Action”. Sell them on the value of why they need your widget, gadget or useful product then introduce an offer they can’t refuse to purchase the product.

The next step is to motivate them to share your awesome and exciting presentation with another associate. This is the meat and potatoes of viral advertising, present information that is so interesting and unique that everyone wants to tell someone else what they read, heard or saw. Set up your “Shock Wave” content so that others can download and then embed it into their own blog or email to others. Upload a short video series on all your advertising “bloopers”, or business bloopers, maybe trying to put together a piece of furniture or equipment and getting it all wrong the first time. Then provide another “Call To Action” using your Facebook Fanpage that they can “Like”, along with the other top social media sharing sites.

4. It is not surprising to hear that many consumers feel jaded when it comes to online shopping. Nobody wants products shoved down their throats through mass advertising methods and using hard sell marketing. If you want to get the consumers attention in this fast paced modern world, you need to be unique and most importantly interesting. Smart consumers are quickly distracted from boring content and they will turn a blind eye and a deaf ear to your viral advertising message.

A proven and trusted method of advertising and marketing that get results is viral advertising, and fortunately for the marketer new software developments can make all the difference. Your personal recommendation is still stronger than any other form of advertising on the planet period! People trust people, and with smart phones using text messaging by the second, and social media sites getting posted on every event of the day, if you have presented your product offer in a way that makes them remember you, you have one half the battle.

5. By fulfilling some unique marketing strategies you remove your business from the mainstream humdrum advertising practices. It’s a known fact that many people feel frustrated with the usual conventional way many businesses sell their products. Don’t let your business fall into this pitiful trap of no return. Step to the plate and be the one who stands out in the crowd, who motivates prospects to burn blisters on their fingers, texting about your great buy of the day.

Business owners are becoming much more conscious of profits and losses due to advertising decisions they have made, and it’s impact on their ROI (return of investment). So the questions comes forth “can we affect people from the inside, from their emotional self and not just from the mind”? So is viral advertising becoming not only the new trend but the must have trend to succeed online. It is our ability to influence the mass public at large that creates successful viral advertising campaigns. Ads that influence the behavior of the viewer in such a ways that they are motivated to share their exciting experience is the purest testament of what viral advertising is all about. If enough of their friends and contact embraces their excitement over what they have been exposed to the viral advertising cycle begins to circulate.

6. Your ultimate goal of course would be to create an viral advertising campaign that causes a behavioral epidemic of buyers. An infectious viral result where everyone wants to be able to say “Yes I Saw That”, or “Yes I heard about that”, or “Yes I watched that”, so that they appear to be in the loop with the latest and newest hot selling protégé. Some marketers prey on the idea of owning a “Secret”, something so special that only a few get access to it. It then becomes an obsession everyone wants to know the secret and will go to any length to get access to it. If you can only offer medium media exposure of your product, then relying on these viral advertising methods becomes essential.

So is your goal to place an advertisement that is seen by 10 who tell one person each, becomes 20 who tell one person becomes 40 and so on. Or do you want real viral advertising success where you place your viral advertisement and get 100 who tell 10, who tell 10 who tell 10. So who is in control here, the business marketing manager of course, the one who decides how the advertising budget is allocated. Is he reserved and old fashioned, or is he brave and uninhibited and adventurous. It is an knows fact that Viral Advertising does in fact work very effectively, and it is the business owners goal to seek out a reliable viral advertising business source.

7. Once your viral advertising campaign has become viralized, it is proof that you have found a suitable target market audience for your product. Once this is identified, you can leverage your viral advertising budget maintaining a perpetual cycle and not a static ad campaign. In order to always be able to identify your most effective viral advertising campaign, it is important to use proven methodologies with specific tracking measures built right in.

8. So does your business have an “Online Viral Advertising Formula”? Is your business aiming high for thousands of hits, a true testament of a successful viral advertising campaign. Marketing consultants know that the more informative your advertising the more persuasive it will be to the consumer. What really makes the consumer decide to purchase your product is based on the content provided in the advertisement more than it’s layout or and whether or not their is something worth sharing, or texting about.

With the ever changing fast moving internet world coming up with a formula for viral advertising is not an easy task. A good rule of thumb is “What motivates you to share a viewed advertisement is different to what motivates you to get out your credit card and finish the purchase.

9. Going back to our conversation about emotions, if you can make someone laugh or gasp or look in disbelief to what they are viewing your chances are the best that they will share that experience with their friends, associates, and followers on social media sites.

The magic of every successful viral advertising campaign begins with a great unique idea. The one main ingredient in all online successful advertising campaigns is creativity in your graphics, your presentation, your keywords and your identified target market. Training business owners though to give each viral advertising campaign they embark on time to mature, time for the seed to sprout, time for the momentum to build and the rewards to pour in from all their hard work and efforts.

10. Don’t be shy to take advantage of the ever fast changing technology world to benefit your business advertising efforts. Finding a great viral advertising business can be a real game changer for your online advertising results. Most importantly look for a viral advertising business that is free to join, and that uses state of the art software designed to drive your business into the next galaxy.

Viral advertising will always win in the end simply due to the abundant measure of viewing numbers. A strong viral advertising strategy will encourage individuals to share an article, a podcast, a video or simply an online advertisement, resulting in exponential exposure by it’s massive influence.

The rippling effects of one single viral advertising message can literally reach hundreds and even thousands of readers in a few short hours. You can quickly enhance your viral advertising success by offering a free give away product. This “FREE” product can be a small physical product that can be mailed out, or it can be a digital product that is delivered instantly online.

It is a well known fact that “FREE” if the most powerful word a marketer can use in any viral advertising campaign. Often the business owner experiences what can be called delayed gratification when using the “FREE” power word in their viral advertising campaign. Add the common expression “OTO” or One Time Offer” that almost always follows a free give-a-way, and you have a winning combination. First you got their attention, and then you offer them something of such great value, they can’t afford to say “NO” and purchase it while it is so cheaply priced.

Always keep in mind that the whole purpose of engaging in viral advertising methods is to spread an idea, and that idea while it is spreading throughout the internet, actually helps market your niche business or product and is attached to your website.

Have you noticed how business owners have become obsessed with Free exposure in any arena? Too many times marketing campaigns have been thrown together much too fast and may get attention but your product or company does not.

Closing

Peoples attention are so fragile, try designing your viral advertising campaign with a strong viral element built right into it. Getting your media to go viral is not the hardest part of your marketing strategy, the most challenging part is getting your media to produce tangible results that show up in your bank account.