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Business Basics

How to Use Social Media To Better Your Retail Business

June 13, 2019


We all go online when we search for a product or service, want to read the latest business news or check the reputation and credibility of a certain company.

Social media has also become a dominant customer service channel as this is one of the easiest ways for clients to connect with a business and place an inquiry or comment about the product or service they are using. 

Social media can be a direct sales channel – with the advancement of payment technology and solutions, retailers can sell via their social media, even if they don’t have an online store.

Which are the most popular platforms to be on?

To define that, you need to first ask yourself if you are a B2B or B2C retailer. Then define your target audience: who are they, where are they located, what is their age, income, etc.

These are top five platforms most commonly used by retail brands:

Facebook: This is mostly a B2C platform,  but in some cases can be used by B2B businesses. Used by: fashion, retail, e-commerce, entertainment, health and wellness, auto and more. No matter what industry you are in, having a Facebook presence is a must as it helps SEO.

Instagram: This platform is best for B2C. Top industries using this channel: fashion, food and beverage, travel and hospitality, wellness, arts and crafts, e-commerce, beauty, photography and more. If you are selling a visual product, then you definitely need to keep an active Instagram presence.

Pinterest: Another platform that’s ideal for B2C businesses. Mostly used by: retail, fashion, arts and crafts, beauty, home and garden, and more. This platform provides both visual and text information, making it suitable for brands offering visual products and services in the likes of home decoration, landscaping, packaging, hand-made crafts, etc.

Twitter: This …

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6 Things You Need to Know About Workers' Compensation Insurance

June 5, 2019


Workers’ compensation, or workers’ comp, is an insurance program that provides benefits to workers who were injured or became ill on the job to make up for medical costs and lost wages while they were out of work.

Workers’ comp insurance generally covers injury or loss of limb, illness caused by the job environment (like emphysema), repetitive motion injuries, permanent impairment, medical treatment, rehabilitation, lost wages, death, and liability insurance. Workers’ comp will provide coverage regardless of who is at fault – the employee, the employer, co-workers or even customers.

While it might seem like just another business expense, workers’ compensation insurance can actually protect you from litigation should an employee become injured or sick as a result of the job.

“Workers’ compensation insurance exists primarily to protect the employer,” said Chane Steiner, CEO of Crediful. “It is much better to pay for insurance to protect your business in case you are hit with a major claim and don’t have the funds to pay it directly.”

 

Editor’s note: Looking for workers’ compensation insurance for your business? Fill out the below questionnaire to have our vendor partners contact you with free information.

 

 

Except for Texas, every state legally requires companies to carry workers’ compensation insurance either through a private insurer or the state, or the business can elect to be self-insured. Each state has different rules regarding what is covered, how issues are evaluated, how medical care is delivered and the amount of benefits an employee can receive, so be sure to check your state’s regulations. Failure to carry the required insurance will result in your business paying for the benefits out of pocket as well as penalties levied by the state.

The cost for workers’ compensation insurance varies by provider and industry (high-risk jobs like roofing and …

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5 Ways Small Business Retailers Can Win Social Media

May 13, 2019


Social media as we know it got its start in the early 2000s. Sites like Myspace, Facebook, LinkedIn, Twitter and YouTube came out at that time, and they’ve grown like wildfire ever since. It’s estimated that there were 2.77 billion social media users around the globe in 2017. Many dismissed social media as a fad, but the past decade and multibillion-dollar valuations for companies like Facebook have silenced any naysayers.

To drive the point home even further, it’s estimated that there were 80 million SMB Facebook pages as of 2018. To put that in perspective, there were only 1,128,112 retail establishments in the United States as of the last census taken in 2007. I think it’s safe to say that social media isn’t a passing fad and that investing in a business page, retail or otherwise, is a rule rather than an exception.

As a retailer, you know how important it is to connect and build relationships with your customers. From the niche boutique hosting an invite-only wine tasting to merchandisers running loyalty programs, customer loyalty, brand affinity and repeat business is essential for growth. With retail facing uncertain times, social media can provide a competitive advantage for retailers being forced to compete against e-commerce behemoths like Amazon, eBay and Walmart by focusing on the very things that set them apart: locality, independence and their small size. Let’s dive into the five advantages that small retailers have when it comes to using social media.

Editor’s note: Need online marketing help for your business? Fill out the below questionnaire to have our vendor partners contact you with free information.

 

1. You’re more connected to your customers.

The biggest retailers can leverage their brand recognition, vertically integrate their supply chain and take advantage of economies of scale to pass discounts to …

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