small business connections: marketing meets microfinancing-boston

In the US, small firms represent 99.7 percent of all employer firms

SOURCE: SBA.GOV/ADVOCACY

FRAMING THE ISSUE

Small businesses employ 57% of the country’s private workforce

SOURCE: UNITED STATES SMALL BUSINESS ASSOCIATION OFFICE OF ADVOCACY

Small businesses create 13x more patents per employee than large patenting companies

SOURCE: UNITED STATES SMALL BUSINESS ASSOCIATION OFFICE OF ADVOCACY

Real job creation doesn’t kick in until those small businesses survive and grow into larger operations.”

JARED BERNSTEINNew York Times, October 23, 2011

“BUT...

NYSE — CENTER OF COLLABORATION

Issuer Companies

Small Business/ Start Up Community

American corporations want to and must be

part of the solution. Small businesses and

entrepreneurs are our neighbors, our customers,

and our futures. It is time to harness the

unparalleled innovation and creativity of

American business to find collective solutions

even more powerful than the economic

challenges we face.”

“

DUNCAN L. NIEDERAUER

Chief Executive Officer of NYSE Euronext

Small Business Connections: Social Media & the World of Online Reviews

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Darnell Holloway Manager of Business Outreach @darnelljustin #NYSEBIgStartUp

The Social Media Landscape

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• 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?

Now more than ever, consumers rely on online reviews

Source: Search Engine Land Local Consumer Review Survey (2012)

85% of Consumers Use The Internet to Find Local Businesses

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LinkedIn is B2B Social Networking

Marketing Your Professional Skills

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Connecting With Other Professionals

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A Few Success Stories

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Twitter is Micro Blogging

The Sprinkles Example

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Aggregate Your Information

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Facebook Emphasizes Social Connections

Create a Facebook Page for Your Business

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Food Porn

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Demographic Information

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Yelp is Transactional Social Media

$864

Yelp by the Numbers

$864

•  Yelp mobile app is used on 7.2 million unique mobile devices (Q2 2012) •  Approximately 40% of all searches on

Yelp come from our mobile apps.

•  Every second, a consumer generated directions to or called a business from a Yelp app. • A photo was uploaded at least every 30 seconds from the Yelp app.

Yelp Mobile

Consumers on Yelp are Affluent, Educated Adults

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Unlock Your Free Tools

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Biz.yelp.com

Claim your page here

Log in here

Understanding Yelp Metrics & Free Tools

Improve your business page. That’s FREE.

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Connect With Your Customers. It’s FREE too!

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Myth: Most Yelp Reviews are Negative

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80% of Yelp Reviews are Three Stars or Higher

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

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Quality Control: Why Some Reviews Come Down

All businesses are equal in this regard. (Advertisers & non-advertisers treated equally; filtered reviews viewable.)

Keeping Our Content Useful For Consumers

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“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.”

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Engage Diplomatically

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Don’t: Freak Out

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Case Studies in Freaking Out

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The Right Way To Do It

We Offer Paid Upgrades As Well

Removal of Competitor’s Ads

Video Player and Photo Slideshow

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Search Advertising

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Summary

1.  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 business page will look better, and this can drive new customers.

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§  Q & A §  Biz.Yelp.Com §  www.yelp.com/contact

THANK YOU

BUSINESS GROWTH THROUGH MARKETING

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WHO IS ACCION?

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ACCION IN BOSTON

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*Credit cards, Microloans and Bank Loans build a credit history.

Friends & Family Crowdfunding PersonalSavings Equity

Loan Shark Pawn Shops

Credit Cards

ACCION MICROLOANS

Bank SBA Loans

Equity and Investments

OVERVIEW OF CREDIT CONTINUUM

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•  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?

IS MY BUSINESS READY FOR DEBT FINANCING?

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WHAT ABOUT MARKETING? •  Update your website, packaging, or

marketing materials?

•  Attend a trade shows, host an event?

•  What else?

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HOW IS MARKETING INTEGRATED IN MY BUSINESS?

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§  Purchase or Improve Signage: Bob and Anita of Karl’s Sausage Kitchen and European Market in Saugus, MA used a $19,000 loan to purchase new signage

MARKETING LOAN PURPOSE

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KARL’S SAUSAGE KITCHEN ON YELP

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BECOME ACCION LOAN-READY

§  Meet one-on-one with an Accion Loan Consultant

§  Keep good end of month balances §  Know your credit score and keep improving

it §  Decide how a loan will help your business

grow-specific purposes? §  Get smart about marketing your business-

get networked!

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MORE THAN A LOAN

§  One-on-one: We provide coaching throughout the loan process on credit, cash flow and record keeping

§  Online: Free webinars and monthly newsletters with useful tips §  Partnerships: We team up with other organizations to leverage

resources and maximize strengths

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Please contact us: §  Rodrigo Cerveira §  617-666-7421 §  rcerveira@accionusa.org

THANK YOU

Every $1M invested creates

another 1,000 jobs