These days, most small businesses are trying to figure out how to get millennials in their door or to their website. It’s the coveted audience that already outnumbers baby boomers and does the majority of online shopping. To help you target this segment, this week’s Trending on Thursday has great tips for making your small business stand out to young people. We also explain what doxxing is, detail the biggest small business social media mistakes, and provide tips to prepare your employees for 2017.
Keep reading for this week’s #smallbiz roundup and tweet us with your millennial marketing strategy at @MarlinBusiness.
- Whether it’s demanding unique gifts or paying heed to charity, millennials are putting their own distinctive stamp on the holiday retail experience. Young consumers, roughly those below age 35, played a key role in the record-breaking surge that made Black Friday the first day ever to rack up more than $1 billion in mobile sales. The nation’s 75 million millennials now outnumber baby boomers, with their buying power this holiday season projected to total $85 billion – nearly 10 percent of the $1 trillion forecast to be spent overall, according to USA Today’s Charisse Jones and Eli Blumnethal.
- Have you heard the word doxxing being used in the media and wondered exactly what they’re talking about? According to a recent Small Biz Trends article, doxxing is the “internet-based practice of researching and broadcasting personally identifiable information (such as names, addresses, phone numbers, spouse, children, relatives, financial history and much more) about an individual.” And small business owners should be concerned. Because those who “doxx” are so-called vigilantes known to go after innocent people they deem deserving. Be sure to read this article for tips to protect against doxxing.
- These days, just about every business, regardless of size, has a presence on social media. It might be just a Facebook or Pinterest page, but chances are if you are a small business owner, especially a retailer, you have an account on one of the major social media platforms. And while having a Facebook and Pinterest (as well Twitter and Instagram) page can be beneficial, it can negatively impact your business if you make one (or more) of CIO reporter Jennifer Schiff’s nine small business social media mistakes.
- Accounting can be a time-consuming chore for small business owners, but a necessary one in order to track, manage, and optimize your business’ growth over time. Sooner or later (and the sooner, the better), you’ll need to invest in a small business accounting software and system to manage your cash flow and prepare for tax time. From bookkeeping to invoicing to tracking expenses, there are a lot of different things to consider when choosing the right software for your needs. To help you out, Shopify’s Braveen Kumar has put together a list of popular small business accounting tools to pick the right accounting system for you.
- There’s always a sense of starting new on January 1st. Employees are going to naturally want to be better in 2017, so now is the time to take advantage of that and make sure you’re doing everything to motivate them. Suzanne Lucas has a checklist for you to follow on Inc. that includes an annual appraisal telling employees how they performed in 2016, a list of annual goals, and asking both your employees want and what they need.