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Small Business Connections: Marketing Meets Microfinancing-Chicago
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Small Business Connections: Marketing Meets Microfinancing-Chicago

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Yelp and Accion have teamed up with the NYSE Big Start-Up to host a series of free workshops that provide small business owners across the U.S. with resources to help finance their entrepreneurial …

Yelp and Accion have teamed up with the NYSE Big Start-Up to host a series of free workshops that provide small business owners across the U.S. with resources to help finance their entrepreneurial dreams and increase their online marketing power by learning best practices for engaging with online review sites.

This presentation was delivered by Yelp and Accion staff members to over 45 business owners in Chicago on September 18, at 21 E Chestnut St, Chicago, IL 60611.

Published in: Business, News & Politics

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  • 1. Small Business Connections:Social Media & the World ofOnline Reviews
  • 2. Darnell HollowayManager of Business Outreach@darnelljustin#NYSEBigStartUp 2
  • 3. The Social Media Landscape • Why is it important to have a strong online presence? • What are the basics you should know about each major social media platform? • How can you engage with existing customers and attract new business? Page 3
  • 4. Now more than ever, consumers rely on online reviews 85% of Consumers Use The Internet to Find Local Businesses Source: Search Engine Land Local Consumer Review Survey (2012)
  • 5. LinkedIn isB2B SocialNetworking 5
  • 6. Marketing Your Professional Skills Page 6
  • 7. Connecting With Other Professionals Page 7
  • 8. A Few Success Stories Page 8
  • 9. Twitter isMicroBlogging 9
  • 10. The Sprinkles Example Page 10
  • 11. Aggregate Your Information Page 11
  • 12. FacebookEmphasizesSocialConnections 12
  • 13. Create a Facebook Page for Your Business Page 13
  • 14. Food Porn Page 14
  • 15. Demographic Information Page 15
  • 16. Yelp isTransactionalSocial Media 16
  • 17. Yelp by the Numbers $86 4
  • 18. Yelp Mobile•  Yelp mobile app is used on 7.2 million •  Every second, a consumer generatedunique mobile devices (Q2 2012) directions to or called a business from a•  Approximately 40% of all searches on Yelp app. • A photo was uploaded at least every 30Yelp come from our mobile apps. seconds from the Yelp app. $86 4
  • 19. Consumers on Yelp are Affluent, Educated Adults
  • 20. Unlock YourFree Tools 20
  • 21. Biz.yelp.com Page 21 Log in here Claim your page here
  • 22. Understanding Yelp Metrics & Free Tools
  • 23. Improve your business page. That’s FREE.
  • 24. Connect With Your Customers. It’s FREE too! Page 24
  • 25. Myth: MostYelp Reviewsare Negative 25
  • 26. 80% of Yelp Reviews are Three Stars or Higher Page 26 Negative reviews play an important role too •  A variety of experiences are consistent with real life •  You can’t please 100% of your customers 100% of the time
  • 27. Quality Control: Why Some Reviews Come Down Page 27 All businesses are equal in this regard. (Advertisers & non-advertisers treated equally; filtered reviews viewable.)
  • 28. Keeping Our Content Useful For Consumers “Yelp runs its reviews through an anti-fraud filter, with impressive results; every fake review the Texan bought was flagged by Yelp’s algorithms, though his fraudulent reviews remain up on the seven other sites.” Page 28
  • 29. EngageDiplomatically 29
  • 30. Don’t: Freak Out Page 30
  • 31. Case Studies in Freaking Out Page 31
  • 32. The Right Way To Do It Page 32
  • 33. We Offer Paid Upgrades As Well Video Player and Photo Slideshow Removal of Competitor’s Ads
  • 34. Search Advertising Page 34
  • 35. Summary Page 351.  The most successful businesses on Yelp focus on providing great customer service, not soliciting reviews. Word of mouth will take care of itself.2. Don’t over-focus on any single review.3. Start using Yelp’s FREE tools today (biz.yelp.com). Your businesspage will look better, and this can drive new customers.
  • 36. THANK YOU §  Q&A §  Biz.Yelp.Com §  www.yelp.com/contact 36
  • 37. BUSINESS GROWTHTHROUGH MARKETING
  • 38. WHO IS ACCION?§  We’re a nonprofit microlender dedicated to providing credit and other business services to small business owners who do not have access to traditional sources of financing§  By encouraging the economic self-reliance of business owners, Accion Chicago strives to help business and communities grow 38
  • 39. ACCION IN CHICAGO§  Small Business Loans §  Term loans ranging from $200 to $50,000, average loan size $8,000 §  Loan products service start-up and existing business owners§  Technical Assistance §  Financial education through one-on-one counseling and workshops §  Access to resources§  Service Area –Entire state of Illinois and Northwest Indiana (Lake and Porter) 39
  • 40. BUSINESSES WE SERVE 40
  • 41. OUR IMPACT§  Mission Outcomes since 1994: §  More than 2,600 loans disbursed totaling over $20 million to more than 2,000 micro-entrepreneurs§  2011 Mission Outcomes §  2,481 different businesses served with assistance and financing or formalized referrals to banking and technical assistance partners for financing, counseling, and other services §  301 loans disbursed to local small businesses §  2.5 jobs created or maintained per loan disbursed §  $2,028,570 dollars disbursed §  780 business owners educated through community seminars 41
  • 42. IS MY BUSINESS READY FOR DEBT FINANCING?§  Would a new mixer, computer, or vehicle help you get the job done better and faster?§  Do you have any potential unexpected expenses?§  Would you like to build your credit along with your business? 42
  • 43. WHAT ABOUT MARKETING?§  Update your website, packaging, or marketing materials?§  Attend a trade show, host an event?§  What else? 43
  • 44. KB FITNESS DBA SKINNY SOCIALS $12,000 Accion loan for website design and promotions§  (now has almost 7,000 combined followers)Build Relationships, Give CreditFind Influencers; Fans, Media, PartnersReward fans and thank promotersParticipate in community eventsEngaged fans = Loyal Customers 44
  • 45. VINEJOY, LLC§  $5,000 Accion loan for inventory§  Social media for B2B’s §  Cold calling §  Building customers’ customers §  Creating relatable brand@VinejoyChicago 45
  • 46. NEW ENGLAND SEAFOOD COMPANY§  $10,000 Accion loan to increase delivery and inventory capacity§  Establish Reputation§  Promote Expansion§  Celebrate Success 46
  • 47. WHERE DOES MARKETING FIT IN YOURDAILY ROUTINE? 47
  • 48. CATERING OUT THE BOX 48
  • 49. GENERAL LOAN ELIGIBILITY REQUIREMENTS§  Operate a for-profit business§  Have a clean and/or improving payment history with creditors§  Pledge collateral and / or a qualified co-signer§  Generate sufficient business and personal income to service new debt 49
  • 50. APPROVAL PROCESS Pre- Loan approval Applicant request If approved, Applicant issued by submits Underwriter presented to loan closed completes Loan Officer supporting review credit at our office online loan within 48 documents committee or partner application hours for approval officeTotal time: as little as 2-3 weeks from first inquiry toloan closing 50
  • 51. HOW TO APPLY§  Fill out our application at www.accionchicago.org§  Call Adrian or Kyle directly at 312-275-3000 for pre-qualification, paper, or e-mail applications 51
  • 52. UTILIZE RESOURCES TODAY!§  Get smart about marketing your business!§  Decide how a loan will help your business grow - know specific purpose and budget§  Know your credit score and keep improving it.§  Meet one-on-one today with organizations that support small business.§  Become Accion Loan Ready! 52
  • 53. THANK YOU Please contact us: Every$1M §  Adrian Mendieta invested creates §  312-275-3000x132 another 1,000 jobs §  amendieta@accionchicago.org §  Kyle Johnson §  312-275-3000x133 §  kjohnson@accionchicago.org 53