Small Business Bootcamp presented by PayPal: Optimising your online presence

1I want to ensure easy transactions and payment plan options for my customers. Where do I start?

KA: Research popular payment methods and what the implementation/costs involve, to help advise what you should be offering. It could vary for different demographics.

SP: Look at best of breed platforms like platforms like Uber, The Iconic and me&u and see what they are doing, then integrate some of those best practices.

At the heart of this should be a super effortless payment experience.

2Some people say “80% ready, launch!” And others say “have everything set up and ready to go before launching”. What’s your advice on this?

KA: From an ecommerce perspective, launching your website can be very daunting and it’s easy to get caught up in details that don’t really make a material difference for your ‘launch’. Don’t forget that post launch you’ll have plenty of time to add enhanced features, improve your website and start to gather data to support your decision making. Prioritise your launch/website Wishlist into buckets:

• Blockers = Website won’t work/trade without E.g. Functional checkout, Product,
• Inventory Medium priority = Your high priority nice to haves, will add value immediately and make a material difference.
• Low priority = Your low priority nice to haves, can launch without and deploy once live.

You’ll know when you’re ready.

SP: Absolutely 80% - lets go BUT;

• Ensure you have great customer feedback up-front during the build so you know you are on the right path
• Ensure you have tracking in place to see what happens when you drop the new feature into the universe.
• Observe and listen.

3What is the most important thing for business owners to know right now?

KA: We’re all in this together, trying to navigate and understand this new world. Remember your purpose and why you started. Listen to your consumer. Stay hungry, allow for flexibility, and get creative!​

SP:

• Have a crystal-clear purpose

• In my mind there are three key bits to a great biz - an idea that truly solves a problem, the timing and most importantly the people. I truly believe that great people is 99% of the key, the rest follows.
• Find your product market fit and then double down

4What is one business book you would recommend?

KA: Shoe Dog – A memoir by the Creator of Nike - Phil Knight; SO inspiring!

SP: Eddie Jaku's book - Happiest Man on Earth. Far from being a biz book but an amazing story of hope & compassion. Much needed in the world we are living in now.

5What do you wish more start-up business owners knew?

KA: It’s a journey, not a destination. It’s okay to ask for help, use the resources you have available and build your network with the right mindset. Ensure your decision making is consumer led and focus on your team.

SP: Only do it if you truly, deeply, strongly believe in what you are doing - otherwise you won't get through the tough/dark days. The conviction needs to run deep in your body.

6Email marketing is a huge part of online strategy. But how do you build up enough of a database to actually market to?

KA: Clearly communicate why you want people to sign up, what will you provide them in emails, why should they want to hear from you? Ensure the signup process is easy and seamless on your website. We find a website pop up with a sign-up incentive really works for us – instant discount, go in the draw to win. We also like to run quarterly sign-up competitions to win a prize and we promote this on our social channels. If you have the budget, you can run lead gen ads on Facebook or try a referral program.

SP: Firstly, don't take a one size fits all approach. It sounds like a broken record, but content is so important - are you providing your database with content that is relevant to them? In order to keep your database growing and engaged, you need to understand your core target audience and then break down the motivators and behaviours for segments within that audience. Are you generating shareable quality content that people would be willing to give their information to access? Secondly, make sure you look at where your audience are spending their time, content platforms, news sites - do your due diligence before engaging in a commercial partnership. It will make a big difference to your ROI.

7What 1 or 2 things do you recommend S2M Businesses try to master without boiling the ocean when conducting business in a virtual world?

SP: Be clear on your mission/why and ensure that's clear in everything you and the team do.

8Do you have efficient ways to encourage more reviews? We send a follow up email, but we don't seem to get a good conversion rate.

KA: Offer an incentive of some sort, could be a go in the draw to win monthly, whether that’s a physical prize, voucher, or discount for their next purchase. Personalize your email, if you are the SMB owner and your open to sharing who you are, I think transparency always wins. You could also run competitions for all customers who leave reviews and promote this organically through your social channels.

SP: The old-fashioned way, go above and beyond when it comes to the customer experience. To create brand loyalty and develop a community of advocates, they need to trust and rely on, and that you will deliver each and every time they engage with you.