• By Andrea Needham
  eldersday.org

Marketing is a broad term to describe a complex system that consistently evolves. To market your small business successfully, you need to consider several avenues of advertising, as well as your target audience. Brought to you by Concord Friends of the Aging, here are some tips to help you create a solid marketing plan for your business!

Ask People You Know for Referrals

Research shows that asking for referrals is an effective strategy for building trust with clients and creating a fast track to retention. When a customer expresses satisfaction with your product or service, ask them to refer you to people they know. Once a referred customer receives a satisfying experience, they will refer your company as well, and the cycle continues. It’s an easy and effective way to build customer retention.

Take Advantage of Social Media

Social media is the most effective marketing tool available to small businesses. There are many platforms with sophisticated analytic advertising opportunities, and you can reach a broader audience, faster. It’s relatively inexpensive, but if you struggle with digital marketing, you may benefit from hiring an expert to manage your online presence for you. Another quick tip: if you’re sending out PDFs of promotional material, combine PDF files with this tool to keep things organized and make your life a little easier.

Provide Great Content on Your Website

You can actually drive traffic to your website — and your business — through the use of high-quality content. In fact, content marketing is a powerful tool that can help small businesses to reach new audiences and grow their customer base. By creating engaging and informative content, small businesses can attract attention from potential customers who are searching for information online. In addition, content marketing can also help small businesses to improve their search engine ranking, making it easier for potential customers to find them when they are searching for relevant keywords. As a result, content marketing can be an invaluable tool for small businesses looking to reach new customers and grow their business. If you’re looking for tips to make your content shine, dig through sites like Cornerstone Content for assistance.

Offer Incentives

Customers love a discount. You can create a loyalty program that makes customers what to come back and use your service. It can be as simple as a coupon or as complex as a tiered subscription plan. The best place to start is to figure out what sells and what doesn’t. Then you can create a plan to incentivize consumers to reconsider the products that sell less. Financial literacy is important in this part of your business. You need to know what incentives would help and hurt you.

Network Whenever Possible

Get your business’s name out in the market by networking. You’ll meet new people and business owners and potentially create partnerships for cross-promotional sales. Search for conferences in your industry where small business owners come together to collaborate. Get involved in your community as well. Local recognition is important.

Identify Your Niche and Target Audience

A starting point in any business strategy is to discover your target market and demographic. First, you want to identify an area in your industry that is lacking. That is your niche. You can fulfill that area where there is little or no competition. Then, consider the characteristics you look for in a potential customer. This could include physical characteristics, such as age and gender, or consumer behavior, such as where they shop and for what. Once you know who your target customer is, you can create a marketing plan that specifically attracts them to your company and brand.

Create a Visual Brand

Branding is what makes your company stand out from the competition. It involves creating a unique visual representation of your company that consumers will identify with their experience. Start with a great logo that portrays to consumers what you provide. You can use a logo maker online if you prefer not to spend the money on a professional designer. Be sure to research the psychology behind fonts and colors and how they specifically affect human emotion. 

Look Into an Online Degree

When it comes to business, there is always room for improvement. Whether you want to sharpen your business skills or learn new marketing techniques, going back to school for a business degree can be a great way to reach your goals. There are many different types of business degrees available, from accounting and business communications to management and more. And with online degree programs, you can easily earn your degree while still running your business. No matter what type of business degree you choose, you can be sure that you will come out of the program with the knowledge and skills you need to take your business to the next level. If you’re not sure where to look for an online degree, here’s a good option.

As you create a marketing strategy for your business, you’ll come across many new terms and ideas. Try not to overwhelm yourself. If need be, you can head back to school to help brush up on everything you need to know about modern marketing. You can implement these ideas slowly until you get used to the marketing process.

By Andrea Needham
eldersday.org

It’s never easy to accept that an elderly loved one can no longer take care of themselves. Naturally, you feel a strong sense of responsibility to help. Often, though, you’re not sure where to begin. That’s why Concord Friends of the Aging is here to outline the following critical steps to make the process a little easier. 

1. Start Managing Their Finances

Start collecting their bills so you can ensure that utilities and other important accounts remain current. Speak to a lawyer about power of attorney privileges so you can manage their bank accounts. You’ll relieve a great deal of stress from your loved one if you can handle this part of their lives as it gets more confusing.

Gather all their financial documents when you take over as power of attorney. You need to understand the entirety of the financial situation to help with estate planning. Get family members to help you if it gets too overwhelming.

2. Teach Them About Scams

If you cannot be present all the time, you’ll want to teach your loved one about scams. Seniors are a primary target for scammers because many have not invested much time in learning about technology. Explain the phone calls, texts, and emails they should ignore, and specifically reference that they should never click on any links or provide any personal information.

3. Reach Out to Other Family Members

Let other members of the family know what is going on so they can help. Being a caregiver is incredibly demanding and can be emotionally draining. You will need the help so that you can take proper care of yourself as well.

4. Help Them Eliminate Baggage

If your loved one is a business owner, they may need help selling the company. If they struggle to maintain the demands of daily business operations, it is likely time to sell. Get a professional valuation first so you know how much to ask for before putting it on the market. A proper valuation should include all assets under the business name, including any inventory and property.

5. Hire Home Care Services

Sometimes the best option is to get professional assistance. You can hire a company that offers in-home care services as an alternative to assisted living. Leaving your forever home is scary for seniors. You can keep them at home but still have all the help they need to carry out daily tasks. Many in-home care services companies help take seniors out of the home during the day for exercise, shopping, and other activities. The overall goal is to make them feel as though they live an independent life with a friendly companion. Be sure to read reviews and evaluate your loved one’s needs before you hire someone.

6. Start Downsizing

Downsizing can help relieve many burdens. Seniors living in a large home may not be able to handle the upkeep. You can help them sell or donate what they don’t need. Research shows that a fresh start is often a great mental health booster for seniors.

Downsizing can also be helpful if your loved ones need money. Selling their home and moving into more modest accommodations can simplify many issues. Be sure to investigate local market conditions before helping with a sale. Online resources can give you an idea of whether or not it’s a good time to sell as well as providing information about how much to expect from the sale.

Now that you know a few steps you can take to help your loved one, you’re on the right track to giving them a good quality of life. Remember that there will be hard times. However, if you take the time to take care of yourself, you’ll be a better caregiver as well.

Concord Friends of the Aging is a private non-profit corporation supporting programs and services for the Concord senior community. Please scroll down to sign up for our newsletter!

By Andrea Needham
eldersday.org

Guidance for Deciding When to Intervene with a Senior’s Finances

No part of aging is pleasant. The gradual loss of independence and frustration with health concerns can be overwhelming. As a relative or close friend of an older adult, you may need to step in and assist with finances to protect your loved one from financial fraud or catastrophe. Learn some of the risks and how to address them, courtesy of Concord Friends of the Aging.

Notice the Warning Signs

Reports estimate that seniors are cheated out of billions of dollars every year by fraud. Alert your friend or relative to the possible scams. Scammers pose as various trusted agencies and individuals online and through social messaging, so educate your loved ones on how to recognize traps. Encourage them to ask for a second opinion before responding to unsolicited messages that are supposedly from the IRS, a sweepstakes company, Social Security Administration, lawyers, or a technical support company.

Watch for small indicators that may result in significant problems. Warnings may include:

• Forgetfulness about cash and accounts
• Struggles balancing the checkbook or paying bills
• Repeat purchases of unnecessary items or a lot of expensive purchases in a short time
• Unopened mail piling up in the home
• Declined cards and complaints about not having enough money

Discuss the Issues

Even if you don’t have concerns now, take a more active role in your loved one’s finances, especially after retirement. Discussions about probate, estate, and trust administration early can prevent embarrassing losses and uncomfortable conversations. Maintain a positive atmosphere and discuss the need to prepare for emergencies. Work on your estate plan, involve your loved one in the discussion, and ask them about their arrangements.

Stay calm and respectful during the discussion. Patiently listen to concerns and be transparent. If you need to involve other family members, a written agenda can keep the conversation on track. Keep the meeting to only relatives directly involved. Remind everyone that decisions can be changed later, but starting a plan to protect the family and honor your loved one’s wishes is vital.

Offer Practical Assistance

If your loved one understands the risks they face and wants help, organize things in a way you can work together. Make an account of their total income, assets, and liabilities using credit reports and tax returns. You’ll have an easier time making adjustments and accessing accounts if you receive power of attorney, giving you legal authority to act on your loved one’s behalf. Put your name on accounts for easy access to future documentation.

Compile bills and set up auto payments if possible. If some accounts are already in arrears, communicate honestly with creditors about the situation to work out a payment plan. Credit counseling may help determine your options for consolidation.

If the responsibility of running a business is now too much for your loved one, assist them with selling the company. A professional valuation gives the family an objective understanding of the company’s value before selling. To estimate the market value, the appraiser looks at your assets, including inventory, property, and liabilities. The number helps you avoid being taken advantage of or missing out on a good deal because of unreasonable expectations. The steps you need to take to assist your loved one with their finances vary by the situation. The most crucial factor is that you stay alert and help the person care for issues before challenges become insurmountable problems. With patience and concern, you can help your loved one safely steward their finances.