The new Marketing Cloud Growth is a marketing automation platform connected to Salesforce’s Einstein 1 CRM software and first-party data service Data Cloud, the latter of which the company is now offering for free with select plans.

Generative AI is used by many small business owners to automate tasks ranging from writing social media posts to data analysis. However, without access to a company’s data, most AI platforms are unable to create content tailored to a brand’s unique audiences.

Salesforce created Marketing Cloud Growth to ensure entrepreneurs can leverage their customer data to design AI-generated content that meets their specific needs. As Steve Hammond, executive vice president and general manager of Salesforce Marketing Cloud, explained: “By bringing CRM, AI, and data together in one place, these innovations empower businesses to deliver the compelling connected experiences customers expect.”

Marketing Cloud Growth is the latest in a series of platforms produced by industry-leading companies intended to help small business clients increase growth through technologies such as AI. Earlier this week, GoDaddy launched a generative AI service called Airo, which primarily designs website content for entrepreneurs who purchase a domain through its registry. Over the last year, e-commerce platforms such as Amazon and Shopify have released similar products targeted toward digital retailers who sell through their platforms.

While small business owners are hardly starved for choice when it comes to AI, not every platform is suited for every firm. Furthermore, companies may use their client’s data to further their own goals. Choosing the right option is necessary to drive growth, which is why entrepreneurs should carefully weigh the pros and cons before committing to an AI service from a larger firm, especially those who restrict services to customers already paying to use their platform.

First-time entrepreneurs are often overwhelmed by the number of critical decisions they must make when launching and scaling their new business. But the process behind creating a successful startup is far more simple than many think.

On this episode of The Small Business Show, host Shyann Malone is joined by Ursula Mentjes, business strategist, serial entrepreneur, sales expert, host of the “Quantum Revenue Expansion” podcast, and author of “UpLevel Now” and “The Belief Zone.” Mentjes has helped first-time entrepreneurs from all walks of life learn invaluable sales and leadership skills, allowing them to achieve success despite their lack of experience. Now, she shares her simple formula for starting and managing a new business.

Key Takeaways

1. Mentjes emphasizes the importance of implementing a clear revenue goal and developing a plan to achieve it. Entrepreneurs can do both by first setting a realistic earnings objective and then using that target to reverse engineer their growth strategy.

2. Mentjes urges first-time entrepreneurs to release limiting beliefs that may hinder their ability to grow their business. The misconception that doubling business means doubling the workload is especially widespread and often results in inefficient business management processes.

3. Entrepreneurs must commit fully to their growth goals. Making a firm decision to accomplish something creates the foundation for strategies to develop naturally.

4. Consistent marketing and sales conversations are essential to a small business’s success. First-time entrepreneurs are advised to develop at least three connected marketing strategies and to focus their early efforts on building sales conversations that genuinely connect with potential clients.

5. Common mistakes, such as not hiring enough employees or trying to do everything alone, can quickly undermine a new business. Mentjes notes that hiring can start small and grow as the operation does. This not only helps in scaling the business but also ensures that first-time entrepreneurs can focus on core activities and strategic growth.

6. Mentjes is offering viewers a free guide to start and scale their new businesses! Read her article at the link here.

Luckily, finance consulting firm Better Business Advice has identified the top three accounting software platforms best suited for small organizations, as well as the unique qualities each brings to the table, allowing entrepreneurs to find the best fit for their operations.

Freshbooks

FreshBooks offers a straightforward, approachable layout, making it the most accessible and widely used accounting software. Despite its ease of use, the platform still offers a comprehensive list of features that can handle most small business needs. Due to its relatively cheap cost and mild learning curve, Freshbooks is especially suited to the needs of freelancers and companies with few team members, such as startups.

QuickBooks

QuickBooks receives top marks for its wide-ranging use cases and in-depth insights, allowing organizations to track and control their finances down to the most minute details. It is also the preferred platform of many financial professionals, making it relatively easy to integrate into one’s operations. But whereas FreshBooks offers a user-friendly interface at a low cost, QuickBooks requires more familiarity to leverage its full potential and can be expensive compared to other accounting software platforms. These differences make it a better option for companies that have their own accountant or accounting departments in addition to those that work with bookkeepers or outside consultants.

TurboTax

Finally, TurboTax, with its convenient features and intuitive design, remains an excellent choice for many businesses, although its limited functionality means most users will rarely rely on it outside of tax season. Rather than addressing general needs, it focuses primarily on tax preparation and filing. However, what it lacks in utility, it makes up for with its simplicity and accessible customer service, with the website offering live chat options for those who need additional guidance. These qualities make it one of the best accounting software options for individuals and small businesses who want a cost-effective, easy-to-use platform for preparing taxes but do not require financial services year-round.

Establishing milestones for a startup is essential for long-term success. But, as with all the steps involved in starting a small business, it can be difficult to identify what expectations to set and what benchmarks to track, leading some entrepreneurs to set unrealistic goals for their brand.

On this episode of The Small Business Show, host Shyann Malone is joined by George Deeb, managing partner at business growth consultancy firm Red Rocket Ventures, author of “101 Startup Lessons: An Entrepreneur’s Handbook,” and Forbes contributor. Having helped many startups scale their organizations into successful companies, Deeb shares his insights into how small business owners can use realistic milestones to track their progress and earn both consumer and investor support for their products.

Key Takeaways

1. Deeb emphasizes the critical role milestones play for startups, not just for internal business tracking but also for attracting venture capital investment. These milestones signal to investors that a business is on the right path and achieving its targets, making it a viable investment opportunity.

2. Deeb identifies four areas of progress that small business owners should track using milestones: product development, talent acquisition, business development, and user acquisition. Progress in these areas is fundamental to proving a business’s value and potential to investors.

3. Business growth is segmented into three phases: turning a business plan into a minimum viable product (MVP), evolving the MVP into a full production product, and finally, proving the market demand through customer acquisition and revenue generation. Each milestone typically takes around six months to achieve, but each is necessary to illustrate that the company is on a structured path toward establishing a solid business foundation.

4. Before reaching the proof-of-concept stage that attracts venture capital, startups may need to rely on alternative funding sources such as angel investors, bootstrap financing, or personal funds. This stage is critical for sustaining the business until it can demonstrate enough growth and potential to secure more substantial investments.

5. Deeb advises against overinvestment in the initial stages of product development. Startups should focus on creating an MVP that offers just enough functionality to attract interest and demonstrate potential before tackling more ambitious milestones. This approach not only conserves their resources but also enables faster market entry, which is crucial for capturing early adopters and gaining a competitive edge.

Welcome to another edition of The Roadmap on ASBN, where we showcase how small business owners leverage their entrepreneurial spirit and leadership prowess to grow, scale, and exit successful startups. On this episode, host Lee Heisman is joined by Matthew Hunt, president and co-owner of C2H Air and Electric, who shares his insights into the preparations necessary to build strong brands.

1. Hunt’s entrepreneurial journey began long before founding C2H Air and Electric. He highlights the importance of nurturing an entrepreneurial spirit and gaining experience in one’s field before establishing a first venture.

2. Hunt’s decision to start his own business was fueled by the desire to improve upon the existing standards and practices in the HVAC and electrical services industry, emphasizing the role of innovation and vision in entrepreneurship.

3. The growth of C2H Air and Electric from a three-person startup to a 60-employee organization underscores the critical importance of assembling a strong team. Hunt emphasizes the importance of selecting team members who share the vision of the company and possess the skills and character necessary to drive growth and expansion.

4. Hunt’s strategy for expanding his business into new markets, including other states, demonstrates the complexities and challenges of scaling a business. He urges entrepreneurs to make sure their companies are self-sustaining and ready for new divisions before aggressively scaling their brands.

5. Hunt notes he took on a partner two years after starting his company. He maintains that it is important to understand one’s own strengths and weaknesses, as well as the value of collaboration and the strategic importance of partnerships in filling gaps in expertise, expanding customer relationships, and enhancing overall business growth.

Launched Monday, February 26, the new AI platform offers a multitude of functions targeted at website design and marketing. Using Airo, entrepreneurs can generate logos, images, and text for a variety of purposes. GoDaddy says the technology is capable of designing websites, offering recommendations for email campaigns, suggesting social media and search engine advertisements, and writing product descriptions. Airo can also identify potential domain names for small businesses that launch their website through the company and will automatically design site elements once the domain is purchased.

The majority of the platform’s features can only be accessed once users register their domain name with GoDaddy. Premium capabilities require a subscription after a brief trial.

For small businesses that lack a website, Airo will soon offer beta features for offline use. These new tools will give entrepreneurs the ability to generate descriptions using product photos and allow the AI suite to integrate with GoDaddy’s Smart Terminal, a credit processing point-of-sale device, to create financial reports.

With Airo, GoDaddy has become the latest in a series of major companies to enter the competitive world of small business AI. Corporations, including Square, Amazon, Shopify, and Paypal, have launched multiple platforms over the last year targeted at entrepreneurs, especially those with a focus on digital retail. However, not all services are created equal, nor will all suit the needs of every brand. Whatever they choose, small business owners should be sure to carefully research what each product offers and determine the features most advantageous for their circumstances.

Black women continue to join the entrepreneurial community on a daily basis, achieving success as the business world slowly becomes more diverse and inclusive. Unfortunately, many challenges still face this critically underserved demographic, which is why it is vital to recognize the individuals and organizations raising awareness and providing solutions.

On this episode of The Small Business Show, host Shyann Malone is joined by Aisha Taylor Issah, founder and CEO of the Sistahs in Business Expo, a convention connecting Black women to networking opportunities, educational resources, and business funding. Issah shares her personal story of success and how her brand is empowering and celebrating entrepreneurs of Color across the U.S.

Key Takeaways

1. The Sistahs in Business Expo is the only multi-city small business expo and community designed specifically to celebrate and educate Black women entrepreneurs. The event seeks to empower and recognize Black women in the entrepreneurial space, providing critical support to this underserved community.

2. This initiative addresses critical gaps such as access to promotion, education, and networking for underserved entrepreneurs. The expo, along with Sistahs in Business University, provides resources, education, and financial support to help these individuals grow and succeed.

3. The creation of The Sistah Shop as a retail and e-commerce destination for Black women-owned brands addresses the challenge of accessing retail shelves. This part of the brand acts as a sanctuary for sisterhood, providing a tangible space for diverse entrepreneurs to showcase and sell their products, thereby facilitating growth and visibility.

4. Black women entrepreneurs face many challenges, such as access to capital, which is a significant barrier for many Black women entrepreneurs. Through initiatives like pitch competitions and grant programs, the Sistahs in Business Expo aims to mitigate these challenges, illustrating the importance of resilience and community support in overcoming obstacles.

5. Issah’s personal journey from a traditional job path to entrepreneurship serves as an inspiration. Small business success can find individuals in unexpected ways and is achievable with persistence and dedication.

6. The Sistahs in Business Expo’s next date is Saturday, April 20, in Newark, New Jersey. Follow this link to learn more.

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As technology continues evolving rapidly, the need for effective and practical digital marketing strategies becomes more pronounced. In this dynamic landscape, where trends emerge and fade in the blink of an eye, the challenge lies in keeping up and identifying strategies that stand the test of time.

As we enter 2024, the digital world presents challenges and unprecedented opportunities. The strategies that fueled successful digital marketing campaigns last year may no longer hold the same efficacy. Therefore, regardless of size, it becomes paramount for businesses to reassess their approach and realign with strategies that promise tangible results.

This article will look at seven smart and easy ways for small businesses to do better in digital marketing in 2024. These strategies are not mere trends but foundational principles that small businesses can integrate seamlessly into their operations.

1. Personalized Customer Experiences

Personalization in digital marketing has come a long way from simply addressing customers by their first names. In 2024, it’s about using advanced tools like AI and machine learning to understand your customers on a deeper level. By analyzing their data, behaviors, and preferences, you can tailor your content, offers, and recommendations to create hyper-personalized experiences.

Why does this matter? Because personalized experiences lead to increased customer engagement and loyalty. Imagine receiving recommendations for products you genuinely care about or promotions that align with your preferences. It makes the customer feel understood and valued, fostering a positive relationship with your brand.

2. Video Marketing Dominance

Video marketing continues to dominate the digital space in 2024. Short-form videos on platforms like TikTok, Instagram Reels, and YouTube Shorts are gaining immense popularity. These bite-sized videos capture attention quickly and are perfect for our fast-paced digital world.

Creating engaging short-form video content doesn’t require a Hollywood budget. It’s about being authentic, creative, and understanding your audience. 

Consider live streaming to connect with your audience in real-time, and explore interactive video elements to boost engagement. Video marketing isn’t just a trend; it’s a powerful tool to tell your brand story and connect with your audience emotionally.

3. Voice Search Optimization

With more people using devices that respond to voices, like when you ask Siri or Alexa a question, voice search is becoming more common. You can use their voices to search for information, and businesses need to adapt their digital marketing strategies accordingly.

Optimizing for voice search involves using conversational keywords and understanding people’s natural language when speaking. Think about how your customers might phrase their queries verbally rather than typing them. By aligning your content with voice search patterns, you can improve your visibility in search results and reach a broader audience.

Furthermore, consider creating content that directly answers common voice queries related to your business. This not only enhances your chances of being featured in voice search results but also positions your brand as a valuable source of information. 

4. Influencer Marketing Evolution

Influencer marketing has evolved beyond mega-celebrities endorsing products. In 2024, it’s about micro-influencers and authenticity. These influencers may not have millions of followers but have a dedicated and engaged audience within a specific niche.

Collaborating with micro-influencers can bring authenticity to your brand. Their followers trust their recommendations, and the partnership can feel more genuine. 

Building authentic relationships with influencers involves understanding their values and ensuring they align with your brand. Remember, it’s not just about the numbers; it’s about the connection.

5. AI-Powered Chatbots

AI-powered chatbots are not just a fancy feature for big corporations. Small businesses can benefit significantly from implementing chatbots to enhance customer service and engagement. These bots can handle routine inquiries, respond instantly, and offer personalized recommendations.

Imagine a potential customer visiting your website and getting instant answers to their questions through a chatbot. It improves the user experience and frees up your team to focus on more complex tasks. 

Chatbots are an excellent way for small businesses to leverage AI and enhance customer interactions.

6. Data Privacy and Transparency

In an era where data privacy concerns are growing, transparency is key. Customers want to know how their data is used and whether they can trust your business. Being transparent about your data practices builds trust and credibility.

Outline your data collection practices clearly and give customers control over their preferences. Inform them about the security measures you have to protect their data. You can ensure compliance with regulations and foster a positive perception of your brand by being transparent.

By fostering a culture of transparency, your business not only meets the ethical expectations of customers but also distinguishes itself as a trustworthy player in the digital arena.

7. Augmented Reality (AR) Integration

Augmented Reality (AR) isn’t just for gaming; it also has practical applications for businesses. AR enhances the customer experience by providing interactive and immersive elements.

Consider how AR can add value to your products or services. For example, allowing customers to virtually try on clothes or visualize how furniture would look in their homes before making a purchase decision. AR is about creating engaging campaigns that set you apart from competitors and make your brand memorable.

Moreover, businesses can leverage AR to showcase intricate details of products, offer virtual tours, or provide step-by-step guidance on product usage. This dynamic technology opens up new possibilities for customer engagement, allowing businesses to connect with their audience innovatively.

Conclusion

As we navigate the digital landscape of 2024, these seven digital marketing strategies offer small business owners and entrepreneurs a roadmap for success. Personalizing customer experiences, embracing video marketing, optimizing for voice search, evolving influencer marketing, implementing AI-powered chatbots, prioritizing data privacy, and integrating augmented reality are all steps toward staying competitive in the ever-changing digital space.

Small businesses can leverage these trends to connect with their audience, build trust, and, ultimately, drive growth. By staying informed and adapting to the latest trends, you position your business for success in the digital age.

1. How to create a budget that works for you

Hosted by SCORE, this free virtual event will teach beneficial financial skills that can help small business owners manage their revenues, increase earnings, and assert more control over their organization’s future. Topics include pricing strategies for goods and services, tactics for saving money, and a breakdown of expenses, profits, and losses. The webinar is scheduled for March 7 at 1 p.m. EST. Register at the link here.

2. The marketer’s (early) guide to AI

Artificial intelligence can offer a host of advantages but brings intrinsic uncertainty due to its complexity. This event, hosted by Marketing Brew and sponsored by Mailchimp, brings together experts in advertising, data, technology, and business to give entrepreneurs an extensive crash course in the new and developing world of AI. In-person tickets are sold out, but you can still purchase livestream access for $99! The presentation starts at 8 a.m. and ends at 12:30 p.m. EST on February 28. Purchase tickets at the link here.

3. 2024 go-to-market predictions: CRMs take a back seat to interconnected data sources

Customer Relations Management (CRM) software has long been a frustrating necessity for small business owners, but thanks to the constantly innovating world of business technology, entrepreneurs may finally have new, more efficient options. This virtual event, hosted by Zoominfo, will discuss the weaknesses of modern CRM suites along with alternative strategies for managing customer data. The one-hour webinar is scheduled to start March 27 at 10 a.m. PDT. Register at the link here.

4. How to recruit, retain, and motivate your hourly workforce

Enterprises can rarely achieve success without a strong, dedicated team. Unfortunately, many small businesses think they are unable to win, motivate, and retain talent because they lack the resources of bigger companies. This event, hosted by business-media platform Entrepreneur, teaches frameworks that help leaders inspire and encourage their employees, regardless of their organization’s size. The free webinar is scheduled for February 29 at 2 p.m. EST. Register at the link here.

5. Filing season readiness webinar

Tax season is stressful for small business owners, especially first-time entrepreneurs who lack knowledge of the rules and policies governing the process. Hosted by the Small Business Administration, this online event walks company leaders through everything they need to know about filing taxes in 2024, including tax credits and free, government-operated filing tools. The event is scheduled for February 28 and runs from 10-11 a.m. CST. Register at the link here.

Small business owners may feel daunted by the task of competing with rivals who have had more time to build a following and scale their brand. The fear is such that many entrepreneurs prioritize safety over success, mistakenly holding their companies in check under the belief that direct confrontations must be avoided at all costs.

On this episode of The Small Business Show, host Shyann Malone is joined by Bill Harper, chief executive officer and chief creative officer at BrandBossHQ. Harper, having helped many entrepreneurs navigate the struggles of scaling a brand, shares his insights into how smaller organizations can not only compete with but also outperform bigger rivals by simply adopting the right strategies and priorities.

Key Takeaways

1. Hug Sleep’s approach to competing with Snuggie highlights the importance of innovative brand positioning. Hug Sleep differentiated itself not by focusing on product features but by addressing a specific customer need – providing comfort for the anxious sleeper. This strategy of connecting with consumers on an emotional level and addressing fundamental human needs can be more effective than competing on product features alone.

2. Small business owners have the advantage of being comparatively agile and can quickly adapt and innovate, allowing them to compete effectively against larger, more established competitors. This agility enables smaller brands to carve out unique niches and gain traction in the market before larger companies can respond.

3. Harper believes that an emphasis on risk avoidance puts small business owners at a disadvantage. Competing against larger brands might seem daunting, but doing so can generate significant attention and potentially disrupt the market. The willingness to take calculated risks, especially in messaging and positioning, is crucial for smaller brands looking to make an impact.

4. Understanding unmet needs and pain points not adequately served by competitors can reveal opportunities for differentiation and innovation. This insight can guide smaller brands to develop strategies that resonate with target audiences.

5. Success against larger competitors may not mean completely dominating the market but rather becoming a significant contender by capturing enough market share to influence the market dynamics. The example of Dollar Shave Club’s impact on giants like Gillette demonstrates that smaller brands can achieve substantial success and become serious players in the industry by maintaining a consistent and innovative approach to messaging and product development.