Social Media is useful to improve website hits and improve sales on your website.  Find below 20 ways to use social media to improve sales and website hits

1. Help companies with their existing social media marketing, why because it helps you also.
2. Tagging and other metadata improves the measurement and spread of your information.
3. Use twitter to build your companies personality online
4. Understand that bloggers might care about your customer.  Learn and use their influence to spread your message.
5. Understand which social media websites your customers use and do business.  You can start a community group on Ning, MySpace or LinkedIn.
6. Build your email newsletter content with additional content about your website, providing click through traffic.
7. Learn how people on social media sites are talking about your customer base.  This will help you target your customer.
8. Can you reach more customers and buyers of your service and product.  Learn how your competitors communicate with these customers.
9. Research whether your product or service sells better by recommendation and what would be the best social media sites to connect with your target market.
10. Social media is powered by people.  Learn how to connect with these people through social media.
11. Apologize to your customers if you’ve made a mistake.  Your customers will value this.
12. Spread the good idea and good work of other companies, through your social media activity.  This will build your credibility.
13. Explore your target markets viewpoint of social media.
14. Remember  social media sites such as Facebook, Twitter, LinkedIn etc help push your web presence
15. Build and communicate your business ethics with the use of Social Media, it will pay dividends. 
16. Deliver quality content on your blogs and your site.  It will help your customers feel valued and educated.
17. Remember that the more ways that you can spread the content using social media the better.
18. Understand the technical quality of your website and how you can communicate this.
19. Understand where your websites traffic comes from and benchmark your competitors site.
20. Last of all, learn how to communicate with the wider world and your customer base using social media before you start using  it.

Remember there is more that 20 ways that Social Media can be used to improve your sales…..this is just a few.

What is foursquare?

Foursquare is a location service-based social network-come-game. What it does in effect is to tell you where your friends are and add a little fun to going out in the evening. It’s like Google Lattitude meets a little bit of Facebook, a touch of Twitter and a dash of Qype.

How does foursquare work?

Foursquare is based around what is known as “checking-in”. You check-in from bars and restaurants and any kind of nightspot or watering hole, perhaps with a little message about where you are and what you’re doing – all very brief – and the system will then register what you’re up to. People who you’re friends with will then get pinged a message to let them know your whereabouts and activities, and the idea is that they can then join you if they fancy or just be pleased that you’re out having a good time. From the other side of things, if you’re out on your own somewhere, or stuck at home and bored, you can see where everyone’s at and get yourself down to the party.

And what about the game?

The clever,  part is that you get points for checking-in. You can only get points for checking-in outside of work hours – presumably to prevent potential mass job loss.  The points aren’t good for anything other than bragging rights but that’s currency a-plenty with a leader board on the site with the top users. Also, if you check-in from the same place more times and more regularly than anyone else, then you might find yourself crowned Mayor of that gaff on the site – an honour that many may try to wrestle from you but then, that’s part of the fun. You’ll probably begin as rivals and end up the next week amassing 50 points together on some all night bender.

You can also earn badges as you check-in which is where the parallel of World of Warcraft and its Achievements system lies.  There are badges for the number of times you’ve checked-in to new establishments from Newbie up to Superstar, plus all sorts of random and more cryptic titles to earn.  This is where the real addiction lies, especially with the team working on and taking suggestions for all sorts of new badges

The really clever part

That’s basically the fun side of foursquare and what you’ll appreciate as a user, but while all this is going on, the owners of the service are also gathering some very considerable review and guide data for all the best spots in a whole bunch of major cities all over the world. It’s the kind of user-generated content that Qype specialises in but in a much less in-depth way. Can anyone use it?

A free Domain name and free Business website seems too good to be true but it’s not!  The offer is great if you are a small business without a current web presence.  What you get is:

• A free .co.uk address
• Free updating and customisation
• Access to new customers
• Website visitor monitoring
• Website-enhancing Gadgets

It’s simple:

1. Choose a website address
2. Select and customise a template
3. Publish your website

Just go to Getting British Business Online now to register!

GBBO is a joint initiative by Google, Enterprise UK, BT, e-skills UK and many other partners to help small businesses create their first website and help them understand the opportunities offered by the Internet.

Because they are working with Google & BT they are able to offer you a free website for 2 years, after that you’ll only have to pay a few pounds to renew your domain name for a further 2 years – you’re not tied in to any contract.

With a website you’ll be able to reach new customers as people look online for information about the goods and services they want to buy.

Photo Credit

Some 62 per cent of the mums said that  choosing the hours they work was the main reason they wanted to start-up in business, while 50 per cent wanted a better work/life balance and 38 per cent said they liked the idea of being their own boss.

Lynn Hogg proprietor of on-line discount maternity store www.more4mums.co.uk/ and mother of 2, said that “it’s hard to get a work/life balance with looking after 2 small children, but I feel that being my own boss is the best option”.

The government is only too keen to help mums start a business, they have recently unveiled a new strategy, aimed at doubling the number of female entrepreneurs.  This strategy offers advice on pitching for bank loans and preparing business plans.  This strategy together with a recent upsurge of mums starting and running business has lead to a new term being used that of “the “mumpreneur”.

In the UK, more than a third of female entrepreneurs are aged 30 or under, and 74% of women who started a business did so before their child was two.

It’s not just down to a desire for flexibility, it’s also the result of good ideas. Many of these mumpreneur businesses are based on children and their needs: there is nothing that shows up a gap in the market quicker than hunting in vain for something for your baby.  The White Company’s Christian Rucker started The Little White Company because she couldn’t find baby bedding or pyjamas that she liked.

Lynn of more4mums, said she wouldn’t have it any other way. “It is good to be flexible in the hours I work with my business, the business gives me a challenge  and I get to spend time with our 2 children, when it suits me…the flexibility is the key driver”.

It certainly looks like the mumpreneur is a fast growing segment of the business world in the UK.

Some four-fifths (79 per cent) of retailers claim they couldn’t have kept their high street presence alive without being online at the same time, according to a survey from eBay.

While British shoppers currently spend £1 in every £13 online, eBay sees this rising to £1 in £5 over the next decade, with online sales in categories such as electricals and books exceeding those offline.

According to online sales body IMRG, e-commerce was up by 11 per cent in November compared to last year, with shoppers spending £5.3 billion online last month.

British SME’s (small-to-medium enterprises) are increasingly turning to ecommerce as a means of improving their retail operations, according to new research.

Figures from Actnic show that over 35 per cent of retailers quizzed now sell goods on the internet – jumping from the 11 per cent share recorded in 2006.

It was also found that over a quarter of companies questioned operate through several channels, with outlets welcoming customers on the high street also taking orders over the telephone and on the internet.

“Meanwhile, it was discovered that a sizable proportion of firms asked are making use of online marketplaces on the web.

Amazon and eBay were picked out as the most popular websites for the placement of goods in online auctions.

The Office for National Statistics (ONS) has confirmed that ecommerce is rapidly is growing in popularity in the UK.

According to its latest figures, December saw £238 million spent on products online, totalling 3.5 per cent of all retail transactions.

This was up from a 2.8 per cent share recorded in June, although the ONS said in its report that the figures represented “an estimate of the specific contribution of internet sales to overall retail sales in Great Britain”.

The transactions recorded in the report also only refer to products, as opposed to services, and those bought by “consumers for personal and household use”.

While statistics from the ONS are typically classed as “official”, other reports have suggested that online retail was up considerably in December.

While the IMRG said that 14 per cent fewer people used ecommerce sites on Christmas 2008 compared with 2007, the number of transactions was 26 per cent higher.

Touch technology
Robert Epstein, head of small business sales and marketing at Microsoft, believes that very soon businesses will be experiencing a more intuitive interaction with technology. ‘In the future, I think we will see more and more natural user experiences. For example, Windows 7 already has touch built into it. It will all become much more seamless for users.’

On another planet
Step into a world where there’s no recession. Second Life is a virtual landscape where you can invent your very own entrepreneur. It even has its own currency, so if the everyday slog all gets too much, try the virtual equivalent.

Web 2.0 (or 3.0)
Hyped beyond belief they may be, but social networking sites are here to stay.  Social networking provides a low-cost way to market her business. Blogging, Twitter and Facebook are all very useful business tools, and a very immediate, vibrant way of marketing.

Intelligent software
In the past, all financial information tended to get locked away in a big database in the accounting department, so the person in sales wouldn’t have access to the analysis of his customers. Business intelligence software puts these tools into the hands of the people who can make the most use out of them. It connects the data together, and can easily be viewed through Excel, for example.’

Robotics
It is predicted that businesses will start taking advantage of developments happening in robotics: It won’t be so much a case of the robot doing the photocopying, but of the robot being the photocopier and walking over to you.

Voice recognition
Software that can transcribe the spoken word into text is an area already being widely developed, there is a whole spectrum of [voice recognition solutions], from fully manual to fully automated, and industry players are trying to move the bar closer towards automation

Girl power
The future of entrepreneurship looks decidedly female, with the rise in the Mumpreneur.  We’re definitely going to see more women entrepreneurs with the rise in technology. It allows them to be successful and at the same time do the things that are important to them, like being free to pick up the children. It does empower women, and as a result we will see a greater gender balance of business owners.

If you buy equipment for your business, you may be able to get tax relief in the form of capital allowances. These allowances are for equipment, which you buy to keep and use in your business, such as vehicles, tools, computers  and business furniture. Capital allowances do not cover things bought and sold as part of your trade, but you can claim these as business expenses.

Update your employment status
 
You can register with HM Revenue & Customs online, and the website will walk you through the process. Make sure you do register as self-employed, because if you don’t you will face a fine.

Prepare your finances

Having the correct credit management systems and payment procedures in place is essential to ensure the smooth running of any new business. Efficient cash flow is vital as expenditure is high, especially in the first year, and systems need to be in place to ensure that money is coming into the business, as well as going out.

Be organised

Keeping full and accurate records from the start will make it easier to work out what you owe in terms of tax and National Insurance. All records must be kept for six years – both business and private. Failure to keep records could lead to paying too much tax or a fine of up to £3,000.

Keep the taxman happy

As a self-employed individual you will also be responsible for making your own contributions, this includes remitting your contributions on a quarterly basis. It is important to take care of your National Insurance for two reasons: firstly, you may end up contributing too much, and secondly, you will lose out on state benefits that are related to the amount of National Insurance contributions you have made.

Being self-employed requires you to complete and submit your tax returns. If you want to speed things up then you can submit a full tax return online – not only does this save on process time, but it automatically calculates your tax when you file your return online.  Whether you submit your return online or offline, make sure you check your tax calculation once you have received it, as this will form the basis of your payment.

Don’t wing it

Experienced professional advice can bring essential financial management procedures to your business, allowing you to concentrate on getting the company to where you want it to be

The business

It should start with the basics of your business. A cover sheet should outline the company name, address and current owners. Start by outlining the legal structure of your business and who owns it. Keep this brief as an investor is more concerned about how the business will operate in the future.

Then describe your business and the product or service that you provide. Explain why the product will be profitable and why your customers will buy it, whether your product is unique or simply better than other products on the market.

Try to give a break down of the market sector and its potential. You can use competitors to show how big the market is and what percentage of sales you think you can capture. 

All of these will tie into your goals and objectives for the business. The eventual aim for the business and how you expect to achieve that.

Marketing

The key to marketing is understanding your customers. You must be able to profile your target customer and their likes and dislikes accurately. This will help you understand how to position the product in the marketplace and how to price the product. You must also be aware of how your customer base is likely to change over time, whether it is declining or growing.

It should offer the reader a combination of clear description and analysis, include a realistic SWOT (strengths, weaknesses, opportunities and threats) analysis of each area.  Examples include:

• Market demand for your products/services
• Your competitors
• Your financial resources
• The skills within your company

The  SWOT will demonstrate that management is realistic about the company’s prospects. 

STEP Analysis

Consider the 4 areas of activity in relation to any impact (positive of negative) they may have on your business, now or in the foreseeable future.  As well as local implications, consider any movement in national, European and international situations, including future legislation, that may filter down to affect the business.

• SOCIAL – trends, changes in social acceptability, the changing needs of your customers.
• TECHNICAL – impact of technology on your business, your products and your customers
• ECONOMIC – employment trends, trading conditions, taxes
• POLITICAL – health and safety practices, employment legislation, trading legislation, licensing

Finance

This should include all the financial data on your business. Include any previous year’s accounts, up to three years if you can, as well as details of any outstanding loans or assets. Also include the current management accounts, cashflow forecasts and a breakeven analysis.

Make sure that realistic financial projections are outlined and that you provide different scenarios for sales, costs and cash flows for both the long and short term. Don’t be tempted to dress up the figures. Sales figures growing ever steadily will not impress a seasoned investor. Similarly, be realistic about your costs. Consumer products, particularly those on the internet, will need to plan for a large upfront marketing budget. 

Pre-Start up Costs

Insert the items of expenditure required before the business can start trading, such as

• Capital equipment – vehicles, machinery, equipment, furniture, tools
• Raw materials or stock
• Premises – lease, rent, purchase
• Promotional materials – business cards, flyers, adverts
• Fees – legal, professional, licensing
• Owners’ capital
• Commercial funding – bank loan, private loan
• Start-Up Grant
• Other source

Projected Operating Costs

From your market research, insert your estimated annual costs involved in operating your business, providing as much detail as you can, such as

Direct Costs

• Material
• Stock
• etc 

Indirect Costs (Overheads)

• Employee costs (wages, salaries, NIC, pension contributions etc)
• Planned capital expenditure
• Commercial rent and rates
• Premises – Heat and Light
• Machinery/equipment
• Insurance
• Advertising/Promotion
• Telephone
• Postage and stationery
• Professional fees a nd subscriptions
• Interest – Bank
• Finance repayments
• VAT
• Other expenses

Cash Flow Predictions

The Cash Flow Forecast containes the same information as you would expectto see in a bank statement.  The Cash Flow Forecast, does not show gain or loss in the value of assets, it shows only cash going in to and out of the business, with an opening balance at the begining of the month and a closing balance at the end.  In compiling this forecast, all you are doing is preparing a bank statement in advance.

 The management

This section should outline all background and experience of all the key members of the management team. You should attach CV’s for each individual and outline the strengths and weaknesses of the team as a whole.

The Executive Summary

The last thing written is the first thing that appears in the business plan – the executive summary. This is the most important section and summarises in two pages what is written in detail in 10 or 15.

This is where, among other things, you state the company’s mission statement – a few sentences stating what the business does for what type of clients, your aims for the company and what gives it its competitive edge.

The mission statement should combine the company’s business’ current situation with your aspirations.

Just as the business plan, the executive summary should be clearly written and be persuasive, yet it should balance sales talk with realism in order to be convincing. It should be no more than 1,000 words.

You should make the Executive Summary count, always think of the elevator test, if you are presenting your Business case/Business Plan to investors. If you can’t convince an investor of how good your business is in the time in the lift between the ground floor and whatever floor you exit on, you may have missed your opportunity.

See other information in this section including: Writing a business plan, Choose a company name, Forming a Ltd company, How to set up as a Sole Trader, 10 reasons to start up a business

You’ll need to establish your name before you think about filling out your registration documents as there are certain rules to consider.

The name you choose for you company must:

• Feature the word ‘limited’ or ‘ltd’ at the end. For Welsh companies the equivalent ‘cyfyngedig’ or ‘cyf’ can be used, but documentation must also state in English that it is a limited company.
• Not be made up of certain sensitive words or expressions (listed by Companies House) without the consent of the Secretary of State or relevant government department.
• Not imply a connection with central or local government
• Not be offensive
• Not be the same or similar to one that appears in the Index of Names kept by Companies House.

You can search the index of business names already registered on the Companies House website which is free of charge. If your selected name is too similar to another, an objection can be lodged within 12 months following the incorporation of your company and you could forced to change it.

See other information in this section including: Writing a business plan, Choose a company name, Forming a Ltd company, How to set up as a Sole Trader, 10 reasons to start up a business

Memorandum of association

This document sets out the following:

• The company’s name
• Where the company’s registered office is located – England, Wales or Scotland
• What the company will do – this can be as simple as to be a general trader

Articles of association

This is where you set out the rules for running your company. You must state how shares will be allocated and transferred, how the directors, the secretary and your meetings will be governed. The standard document used is Table A, of the Companies Act.  If choose an amended version of Table A, you must submit this version when registering. Once your company is incorporated you can only make changes if the holders of 75% of the voting rights in your company agree, so it pays to get this right at the outset.

Form 10

This document gives details of the first director(s), company secretary and the address of the registered office. Company directors must also give their name, address, date of birth, occupation and details of other directorships held in the last five years. For Northern Ireland use Form 21

Form 12

This document is the statutory declaration of compliance with all the legal requirements of the incorporation of a company. It must be signed by either one of the company directors or secretary named on Form 10, or the solicitor forming the company. The signing of the document must be witnessed by a solicitor, a commissioner for oaths, a justice of the peace or a notary public. For Northern Ireland use Form 23

Form 12 must not be signed and dated before any of the other documents are completed, signed and dated.

Where can I get these documents?

Form 10 and Form 12 can obtained from the Companies House website.

The memorandum and articles of association can be obtained from legal stationers, accountants, solicitors or company formation agents.

Cost of submitting the documents

The standard fee to register a limited company is £20 but for a same day service it costs £50.

If the registration documents are filed using the Companies House software filing service the fee is £15 for standard and £30 for same-day registration. However, to file electronically you must either purchase the suitable software, develop your own or go through an agent.