New Age Business Management: Lessons Learned from the Way Gen Y Shops

If your business caters to Gen-Y customers, you probably already know how important speed and convenience are. The tech-savvy Gen-Y shopper wants to go through the purchase process as quickly and easily as possible. And they’re not the only ones.

Most people these days want what they want in a hurry. And if you’re slow to move or slow to adopt new technologies, you’re going to be losing customers FAST!

How do small businesses keep up?

If you spend your money on marketing, you won’t have enough money for technology upgrades. If you spend your money on keeping up with technology, you won’t have enough money for marketing. Right?

Wrong.

Your solution to this dilemma actually lies in technology.

Social media

Social media is a terrific way to connect with your community and get the word out about your business for free. Well, kind of free. It can be a time drain, but as long as you choose your social media channels wisely (Read how to do this here),  you may not need to invest much in other sources of advertising.

Mobile payment optionsPicture of credit card reader attached to mobile phone

New ways to make paying easier are popping up like dandelions—from Google Checkout and Google Wallet to Intuit’s and Square’s solutions for small businesses. Take Square, for example. You get a credit card reader you can attach to your mobile phone or iPad. Security, convenience and low cost! The customer is happy, and guess what? You’re happy too. Your credit card reader is free, and you simply pay 2.75% per transaction. That’s it.

And this is just the start. Mobile and online technologies are only going to get better and more relevant from here on.

QR codesMy blog's QR code

QR codes can save you money in print costs and can boost the ROI of your advertising. Do you struggle in your advertising to say all you need to? Now you don’t have to. Let the creative pros give you advertising with impact and drive people to details with a simple QR code. Use these codes to offer coupons or give directions to your business and more.

(Read this fantastic explanation of How QR Codes Can Grow Your Business.)

What’s the point?

Okay, I know there aren’t a ton of details here, but the point is that all of us can go online to find the details that we need to run our businesses effectively and efficiently. The point is that instead of figuring out what kind of marketing to do, we should first be figuring out what our target audience responds to. What technologies are they using? Why do they choose to do business at certain places but not others?

And guess where you can find those answers, even for free? In social media! So get started, if you haven’t already, and explore all the options available to you. I’m not going to tell you it’s easy, but it is easier than you think.

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2 comments

  1. Ryan Gerardi · June 9, 2011

    You are talking about B2C companies here right?

    In my experience, event for B2C, i.e. retail, which social media sites to use and how to use them can vary. Same with text message marketing and QR codes, which have certain advantages over social, such as more intimate contact.

    A good tip for businesses is to not get overwhelmed with too much technology. Pick one or two tools and make them powerful. Facebook is pretty much a given these days, although it’s not an absolute.

  2. ctmarcom · June 10, 2011

    Exactly, Ryan. Looking at and hearing about all the social media channels available and all the technologies available can overwhelm people, especially people who own small businesses. It’s important they decide which ones are most important for them to use and then use those channels & technologies well.

    Thanks for adding your experience. I think readers will appreciate that extra information. Oh, and yes, I was talking about B2C.

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