JD

A: What if I told you that there was a surefire way to make your website standout and POP . . . would that be of interest to you? And what if I further told you that this method is inexpensive, easily accomplished, and even so, has a 50 times greater chance of landing you on a Page 1 search result?

I thought that would grab your attention.

What is the secret ingredient, that magic potion, you ask? The answer is – video.

It turns out that of all the things you can do on your website to engage viewers, create more page views, and get higher search engine rankings, adding video just may be the best. As I said, Forrester Research did a test and found that when search results are blended (that is, they include text, video, images, news, etc.) videos that are search engine optimized (more on that in a moment) give you a 50 times greater chance of ending up on the all-important first page of a search result.

Now that is what I call standing out from the crowd.

But here’s the catch: You can’t just add a video to your site and expect a great search engine result for that page. The video must be search engine optimized, that is, it must contain key words in the file names, captions, and so on. That same Forrester blog indicated that less than 20% of all online marketers search engine optimize their video.

That offers a tremendous opportunity for you.

So I spoke with Benjamin Wayne, the CEO of the great video website Fliqz. Fliqz offers affordable, branded video solutions – everything from video hosting, and SEO tools to search engine submission. He explained that offering video content on your small business site actually serves three functions:

1. It helps attract new customers by virtue of the SEO factor
2. It engages them, and
3. It helps convert them into paying customers

But again, just adding video to your site is insufficient. According to Wayne, if you want your video to be picked up and analyzed properly by Google and the other search engines, you must not only add SEO keywords to it, but you must actually “submit the video to Google using XML tools.” Fliqz helps with that too, giving you an easy way to submit your video’s URL.

Maybe you are thinking that it is enough to put your video on YouTube and embed the YouTube player and URL into your site. According to Mr. Wayne, that too is insufficient. “The traffic and the rankings will be applied to YouTube and not your site,” he says. So the best practice is to add your video to your site and submit your URL and keywords to the search engines.

And don’t make the mistake of thinking that you have to create an expensive video for this to work. In this YouTube era, people are used to watching videos that are less than perfect. Of course yours must be professional and add to your brand, but that does not mean they must cost a fortune or take forever to create.

The second advantage of video is that it engages your audience. When you have video on your homepage, 50% to 80% of your visitors will click that first. So video becomes a very effective tool for reducing your “bounce rate” – the amount of people who come to your site, take a quick look, decide it’s not what they are looking for, and surf on.

And the final thing video can do for you is to help increase your conversion rate – that is, the number of people who visit and then end up buying something. According to Benjamin Wayne, by using video instead of just text as part of your call to action, your conversion rate can be increased multi-fold.

He gave me the example of a rental property website that decided to vastly increase its use of video: It offered guided tours of each of their properties, and then near the end of each video, up would pop a link that said “Rent me now!” As a result, both the site’s traffic and conversion rates increased dramatically.

Web 2.0: It’s not just for the big boys any more.

Today’s Tip: Another very good business book that I recently received and read is The Diamond Cutter: The Buddha on Strategies for Managing Your Business and Your Life by Gehse Roach. Roach explains how his years as a Buddhist monk and the principles he learned helped him build a multi-million dollar diamond business. It is a compelling book – for not only how to be an ethical and highly successful entrepreneur, but how those principles can change your life, your business, and the world.

Steve

A: The above exchange occurred over the weekend when my brother, my wife, and I went out to eat at a nice restaurant. It turned out to be one of those terrible dining experiences we have all been through at one time or another. Everything went wrong – bad service, cold food, wrong orders, etc.

But it was when the young waitress started crying at our table that we new it was time to go.

We actually should have left much sooner. When we first walked in we were sat at a “special” table, even though the restaurant was fairly empty. Soon, the manager came up and pointed out that if we wanted to stay sitting at that table we would have to pay an 18% gratuity, per the sign on the table. When I pointed out that they were the ones who sat us at that table, she didn’t care and actually made us move tables – to a different part of the empty restaurant.

It was a Seinfeldian moment, and I could just hear Jerry say: Who are these people?

How do they stay in business? Since when did policies become more important than customers?

I have a friend, Steve Little, who is a great speaker. Steve has a signature story that he calls The Milkshake Moment (which he actually turned into a book) that goes something like this:

It was the end of a long day of travel. He had been in airplanes, airports and taxis all day. What kept him going was the thought that at the end of the day, after he checked into the hotel, he would get to order one of his beloved vanilla milkshakes. So he finally gets to the hotel, checks in, calls room service, gets “Stuart” on the line, and orders his milkshake.

Stuart: “We don’t make milkshakes Mr. Little, I’m sorry.”

Steve: “Stuart, let me ask you a question. Do you have vanilla ice cream?”

Stuart: “Sure we do Mr. Little!”

Steve: “And do you have milk?”

Stuart: “You bet, Mr. Little!”

Steve: “Well then Stuart, put them together in a blender and please send it up to me.”

Stuart: “But we don’t make milkshakes Mr. Little!”

In his speeches, Steve then says to the audience, “And I have one question for you – Is Stuart stupid?” It always gets a big laugh, and it does so because 1) Steve tells a great story, and 2) we can all relate.

How many times have you encountered a business that seems far more interested in following their own rules and pricedure than in making you happy, even when it would be a simple thing to say yes to you instead of no? Too many times, I know.

Stuart’s problem, and the problem that the manager of the restaurant had, is two-fold.

First, they obviously were not empowered enough to be able to bend the rules, even slightly, and even when it would have meant keeping a customer. So in one sense, the problem is not theirs, it is that of the owner and their managers. Clearly they worked in environments that did not allow them to make smart, independent decisions.

Does your business empower your employees to be smart, rather than slaves to rules? If not, that is really something to noodle on.

Second, it also seems obvious that the culture of the businesses in question, and that of many similarly rigid businesses, is not a customer-centric, positive one. I have said it before and I will say it again – if you want to stay in business, if you want to thrill your customers, if you want to succeed in this tough economy, then the answer is YES.

Can we please stay sitting at this table and pay whatever gratuity we think is appropriate? Yes. Can you please combine the milk and ice cream and make me a milkshake? Yes. Sure you have to have rules and policies and follow them, but it is equally true that mediocre companies would rather follow the rules than follow their customers.

The answer is yes.

Today’s tip: Continuing in my series of great business books I have come across recently:

At the airport recently I saw Magic Johnson’s business book 32 Ways to be a Champion in Business (Magic was No. 32.) I was intrigued for two reasons: First, no one loved his Laker teams more than me, and second, and more importantly, I know that Magic had become an entrepreneur and was interested in his what e had learned.

This is an excellent, substantive, interesting, well-written, engaging book. Whether it’s his lessons from his successes (like teaming with Starbucks) or failures (a sporting goods store that failed) Magic truly has learned what it takes to be a great entrepreneur. The stories are interesting and the lessons are very relevant. Steve says check it out.

Jess

A: Of course there are a lot of things that go into creating a successful business, but one of the most important, and one that is often under the radar, is the need for a great recipe, or two.

Huh?

Think about any great recipe that you like. Why do you use it? I bet the reasons are essentially two-fold. First, you like the result, that is, the tasty food. Second, you probably like it because you can count on it – you get the same basic results time and again.

Well, the same should be true in your business. To succeed long-term, you need a success recipe that you can turn to which consistently cooks up new customers.

When I first started my law practice, I tried a lot of ways to generate business, and finally settled on putting on legal seminars for the public every other month or so. I learned that whenever I put on one of these free seminars I would create enough new business to keep me busy for the next few months. After some trial and error, I had figured out a way to make money consistently. I had figured out my recipe for making my “dough” (I know – groan!)

That is what you have to do. Your recipe could be almost anything:

• An ad that consistently pulls
• A sale
• A viable social networking presence
• A weekly e-newsletter
• A killer e-commerce site

The important thing is that you try out various ideas and find one that works, again and again. Creating a great recipe will give you a sense of calm, knowing that you can always count on this recipe to keep you in business.

And then, down the road, if you really want to succeed, what you will do is create yet another great recipe, or two or three, and here is why: When an investor invests in the stock market, he or she knows not to buy only one stock or sector. That sector or stock may go up, but it also may go down. By diversifying their portfolio, investors create a hedge against failure.

Great businesses, large and small, do the same thing. Take Apple for example. No, they are not the biggest computer maker out there, but they are vibrant for many reasons, including the fact that they have created some additional great recipes: Computers begat laptops which begat the iPod, iTunes, and the iPhone (among others.) By creating additional recipes – additional profit centers in music and telecommunications in additional to computers – Apple continues to be a growth leader.

The best small businesses do the same thing. To be a long-term success, you need to add more profit centers. Here’s how:

1. Make a big list of additional ways to make money or create customers that is a natural outgrowth of what you already do. It should not be too much of a stretch.
2. Winnow the list down, and then go over it with some people’s whose judgment you trust. You are looking for the best two or three ways to create additional revenue.
3. Again, it could be almost anything – a new product, a new location, an additional service, whatever.
4. Test the ideas out and see which one has the greatest potential.
5. Roll it out.

The important thing is that you test and find new profit centers that make you money consistently while reinforcing your brand. Avoid being like those restaurants that advertise “Chinese and American food.” Well, which is it? A great recipe makes logical, intuitive sense.

And they should also yield some yummy results.

Today’s tip: I am sent plenty of business books and read a lot of them. Over the next few weeks, I would like to share in this space some of the best that I have come across recently.

To start, for a couple of reasons, I highly recommend the newest edition of Barbara Winter’s classic, Making a Living Without a Job. This great book shows anyone how they too can become “joyfully jobless.” In a different life, when I was the unhappiest lawyer in the land working for the big firm, this book helped me plan my escape. It changed my life, and it can change yours.

In the years since, Barbara Winter has become my friend and I was privileged enough to be asked to write the Forward to the new edition. Steve says check it out!

Deanna

A: I know of very few small business people who would trade their lot for a gig with a big business, even given the steady paycheck and benefits that would come with it. The lack of freedom alone would likely emotionally pummel most small business owners (and in fact, probably did – that is why they left.)

But it’s not called “big business” for nothing: Large corporations have bigger budgets, better resources, more people – a whole host of bigger and better advantages small business can only dream of.

But, to quote the wizard in The Wizard of Oz, “You’ve got one thing they haven’t got,” namely, the ability to adjust quickly and move fast. You are the speedboat to their tanker. And in an economy like this that is no small thing. The best small businesses shift course, quickly.

Here’s an example: Polly Liu is the founder of Beau-Coup.com, a website that started out offering an amazing array of wedding favors. Ms. Liu and her husband started the business because, while looking for unique wedding favors for guests at their wedding, “we seemed to come across the same set of products from vendor to vendor.” They knew they could do better.

Beau-Coup.com was born not long thereafter and while the site is great and the business quickly became successful, the question arose: How to grow, and more importantly, in what area? This is where being a nimble small business really comes in handy. Beau Coup used Google Analytics and Google AdWords to research and test out new possibilities. They concluded that the next natural extension for them was, maybe not surprisingly, the baby market. Beau Coup soon began to sell favors, accessories, and party supplies for lots of non-wedding events like baby showers, bar mitzvahs, birthday parties, and so on.

The two Google tools Beau Coup used are indeed a great way to test new ideas inexpensively and quickly, but they are not the only way. There are in fact plenty of online tools available that can help you too do some market research and make some smart decisions about what’s working, what’s not, and which way to head next:

Google Analytics, as indicated, is a free tool that analyzes how visitors interact with a site – from how they found it (referrals) to what they do when they get there (navigation). Savvy marketers can use this info to make smart decisions. For example, by testing new products and seeing which visitors click on most often, you can determine which are most popular. You can then emphasize them in ads, move them to more prominent pages on the site, expand inventory with similar items, etc.

Microsoft AdCenter allows you to place ads throughout the Microsoft world – on MSN, Bing, etc. and because such ad campaigns are easy to change, they are a good way to effectively and quickly test something new and hunt for new customers. Example, a sporting goods retailer who wants to try his hand at selling archery equipment can create ad campaigns related to bows and arrows, targets, etc. and see what ads and which key phrases work best.

AT&T (whom I do some work with) allows you to place ads using the online Yellow Pages, on mobile devises, in search engine results, and more. They also have some great local search options.

Google AdWords, as you likely know, allows you to place ads on Google and throughout the Google world.

Of course the other big player is Yahoo.

All of these tools allow you to try something new, inexpensively, and see if it works. If this idea of shifting into new markets is of interest to you, here are a few tips to keep in mind:

1. Consider line extensions: A line extension is, as the name suggests, simply a logical expansion of the line of products you already carry. But remember to think broadly – Beau Coup did not just consider wedding products, they thought about celebrations generally.

2. Consider new customers: Who else may be interested in what you offer? How can you reach them? What might they want?

3. Start small, tweak, expand: The beauty of these tools is that you can look before you leap. Test, see what works, don’t spend a lot, test some more, analyze results, and then go for it.

4. Keep your brand in mind: Going in a wholly new direction could hurt your brand. Be careful of that.

Today’s tip: Know a great woman entrepreneur? Ernst & Young is looking for her. The company is now hosting its second annual Entrepreneurial Winning Women contest. Winners

• Receive ongoing personalized business advice from Ernst & Young professionals as well as entrepreneurs, executives and advisors;
• Will get to meet role models, coaches and mentors;
• Will connect with possible investors, partners, customers, and suppliers; and
• Can participate in formal and informal educational sessions

Apply here

Riley is a major reseller of closeouts and irregulars from Hanes, Gildan, Badger, Russell. Their specialty is case lots or “prepacks” and they move inventory in excess of a 240,000 items per week. Despite their high volume Riley re-packs every case in house and no item is shipped out without inspection. The Riley’s, said “We make sure the packing, colors, size, quality and the price is right for every case.”

With this due diligence already in place it only took a bit of technology to pass all of this information onto the wholesale buyer. Every product page on Riley’s site contains a detailed overview of the item (age class, fabric, quality, etc.) the contents of every prepack in stock, where it will ship from and how many cases are left.

Mike Riley one of the co-owners of RG Riley provides an overview of Riley in the video below and gives a quick demo of the real time interface.  Experience it first-hand by going to any product page on www.rgriley.com.

Linda

A: There are so many great things to be said about e-commerce that I am not sure where to begin, but let’s start with this one: E-commerce is, even today, a fairly new market; it has really been around for a little more than a dozen years.

Being able to tap such a huge market at the relative start won’t happen again in our lifetimes.

There remains a world of opportunity and untapped e-potential. Other benefits include easy access to global markets, having an automated and additional profit center open 24/7, a low cost of entry, and the ability to compete with larger companies.

Here’s how to jump in – 7 Steps.

Step 1: Notice what works: Whether it is eBay, Amazon, or your own favorite, e-commerce sites that succeed tend to do the same things right:

• They are attractive, intuitive, engaging, and easy to navigate
• They offer plenty of inventory
• They are easy to shop and check-out
• There are discounts and specials (coupons, free shipping, etc.)
• They offer great customer service

Step 2. Consider the competition. Who else sells what you want to sell? Take a look at the players both big and small. Buy some merchandise from them and ask yourself – what do they do right, and wrong, and how can it be it be improved?

Step 3. Pick your products: If you are in business and have products that you already sell, then adding them to your online store is easy: Take pictures of them, add them to your online catalogue (see below) and write some great copy.

If you don’t know what you want to sell, then consider your options. There are tons of wholesalers and distributors from which to choose. If you don’t know of any, I would suggest you surf over to my site – MrAllBiz.com – and check out the wholesale product search engine we offer. You can find wholesalers for just about any product you are looking for.

Note: The culture of the Web is one of discounts, keep that in mind, and remember that selling expensive items online is more difficult.

Step 4. Create a great site: You have about five seconds once someone finds your site to impress them enough that they will decide to poke around a bit and maybe buy something. That means your site must be graphically pleasing to the eye, unique, and useful.

Step 5. Consider drop shipping: What if you just want to get your feet wet and don’t want to spend a lot of money discovering whether this online universe is for you? Then check out drop shipping. Drop shipping is an arrangement between you and a wholesaler whereby you offer their products on your site but you don’t actually physically stock any inventory. If someone clicks and buys, notice is sent to you and the wholesaler, the wholesalers ships the product using your labels and logos, and you split the profit.

If you think this is a great way to get started, you are right. There are no products to buy and stock, no huge up-front costs, no labor expenses, etc. You can find drop shippers for most any product by doing an online search, or again, by typing “drop shipping” into the product search engine at my site.

Step 6. Build your store: There are two parts to your online store – the front end and the back end. The front end is what the world sees – your products for sale, specials, policies, and so on. The back end is what you see – inventory control, reports of what sells, etc.

You will need to find an online partner / Web host to help you build your store. Their software will create both the front end and the back end. It will allow you to create thumbnails of your products as part of your overall online catalogue.

What you want is a partner that offers

• Pre-designed, customizable templates
• Inventory support
• Easy acceptance of credit cards
• Search engine optimization
• Easy adding and subtracting of products
• Up-selling tools, coupons, gift certificates, etc.
• Real time stats and reports
• Secure transactions, and
• Plenty of support

Step 7. Handle sales: To be able to accept online sales, you will need a merchant account (an account with a credit card issuer) and / or the ability to accept PayPal payments. You will also need to be able to handle inquiries, returns, exchanges, and refunds. Don’t underestimate shipping and related costs either.

Plenty of other small businesses have made the leap to online success, and if they did it, so can you.

Today’s Tip: If you would like to know more, I recently did a webinar with my friends at AT&T called E-Commerce Essentials. You can watch it here.

Ira

A: If I think about it, there are definitely some strategies I have learned along the way – legal and otherwise – that are inexpensive while also making your business life easier. Some are well known, others are not, but all can make a difference.

And of course, being the lawyer I am, let me note that nothing beats meeting with your own attorney who is aware of your facts and situation. But this list should give you something to talk about.

1. Get creditors to leave you alone, quickly and inexpensively: Especially these days, plenty of folks are being called incessantly by bill collectors. If you want the phone to stop ringing, one thing you can do is invoke the Fair Debt Collections Practices Act. Say something like, “Pursuant to the FDCPA, you are to never call me again about this debt.” (Note: This has to be made to 3^rd party bill collector and not the original creditor.)

Once they have been given notice (doing it by certified mail is even better) they have to stop calling. They may sue you, or not, but the threats will cease.

2. Often, you can do it yourself: There are plenty of times when you don’t really need a lawyer and can do it yourself far less expensively. I am partial to the do-it-yourself law products at Nolo.com, but there are other good sites out there as well, like LegalZoom.com.

Of course, it’s the basic stuff I am talking about here – forming an LLC, creating a will, etc.

3. And when you can’t do it yourself, you may only need a letter: When someone owes your business money it is understandable that you want to sue the bum. But lawsuits are messy and expensive. Many times, a strongly-worded letter from a lawyer can yield even better results than costly, complex litigation, and at a fraction of the price.

4. And if you need more than a letter, negotiate: A little secret lawyers don’t want you to know is that their fees and costs are not written in stone. You can often negotiate better prices. No, they may not reduce their hourly rate, but you can bet that paying 50 cents per copy, or $2 a page for a fax is negotiable.

5. Protect your intellectual property: If you are a creator or inventor, it is vital that you protect your IP – your copyrights, patents, or trademarks. Patents usually require legal help, but copyrights and trademarks can be registered and handled on your own at www.USPTO.gov.

Also, one good thing to know about copyrights is that they need not even be registered with the federal copyright office to be legal; they are created as a matter of law at the moment of creation. See, this sentence is now copyrighted (though registration does offer a lot of extra protection.)

6. What to do if you don’t have a contract: This was one of the more interesting things I learned in law school – sometimes you can enforce someone’s promise to you, even though you don’t have an actual contract, and you don’t even need to hire a lawyer.

It’s called promissory estoppel and happens when you rely to your detriment on someone’s promise.

Example: A contractor asks you, a subcontractor, for a bid for a project and you give a very low bid. The contractor then gets the project but you now say you can’t perform with the low bid you gave. Even though there is no contract, you may be forced to live up to the low bid price because the contractor relied on your promise.

7. Know when to throw it in: When you’re wrong, you’re wrong, and fighting will cost you money.

Today’s Tip: Put it in writing. I know you know this, but make sure you do it, always. Memories fade over time, people remember things differently, and people lie.  Writing prevents all of that from being dispositive.

If your online marketing campaigns send everyone to the home page, you are missing out on the opportunity to customize your Landing Pages to resonate most directly with your prospective customers. Instead of the home page, direct people to a highly relevant page that ties in with the marketing campaign that drove them to the page.

2. Calibrate Your Headlines

Similarly, make sure that your Landing Page headline uses similar language to the page that drove the visit or the copy from the referring ad. It’s critical that you establish relevancy immediately when the visitor lands on the page.

3. Get to the Important Points Right Away

Readers will often skim a page rather than read word-for-word. They rarely read an entire page. Highlight your most important points at the top of the page.

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Video Games

Though experts deemed the video game industry recession-proof in 2008, it finally began to show some weakness in 2009, as profits fell 14 percent in July from the same month last year. In efforts to counter this fall, publishers are shifting their priorities to promoting upcoming video game sequels. Call of Duty, Need for Speed and Assassin’s Creed are all games whose second or third chapter comes out this fall, though perhaps the most anticipated of them all, for gamers and analysts alike, is The Beatles: Rock Band. (Find out why at Newsday.)

Apparel

As their industry quickly became susceptible to economic decline, apparel retailers have begged designers since last year to create lines catering to today’s thrifty consumer. Designers have finally answered those prayers in their upcoming spring collections,  offering high-quality casual contemporary separates with a timeless feel.

“It’s creating a product that is buy-now, wear now,” said designer Peter Som to WWD. “At the end of the day, it’s a partnership with a retailer, and understanding what the customer is looking for, then taking that information and giving them that and something they didn’t know they were looking for. It’s the ultimate dance of commerce and creativity.” (Find out more at WWD.)

Movies

Re-releasing Disney’s cinematic classics is a selling strategy that Walt Disney created himself. But the upcoming theatrical showings of Toy Story and Toy Story 2 are taking this marketing strategy to a  level beyond even 3-D, as they lay the groundwork for next year’s Toy Story 3.

A new line of consumer products, featuring Halloween costumes, DVD rereleases and toys, are set to follow the  theatrical releases.  As a result, the company hopes that Toy Story 3 will become one of Disney’s most profitable movies in years, with a level of success echoing that of its predecessors. (Find more information at the Wall Street Journal.)

Retailers, which of your tried-and-true products have carried you through the current economy? What do your customers like about them?

• End sales on credit. Require customers to arrange their own credit, by charging purchases to a credit card or arranging their own bank loans.
• Restrict credit to “good customers.” Check the credit ratings of customers you want to give credit to. Obtain permission from customers to do this.  Then, for consumer customers, contact one of the three main credit reporting companies (Equifax, Experian or Transunion. For business customers, check with Dun & Bradstreet or another business credit-reporting company.

• Bill promptly. Don’t wait until the end of the month to send out bills for work completed or goods sold during the month.

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