If you ‘want’ a product, you hit the button in much the same way as you hit ‘Like’ to publicly announce your approval or admiration for a particular status update. 

Intention Economy

For me, this is not just another Facebook feature, but rather represents the fertile shoots of a new phenomenon which I believe is imminent – an ‘Intention Economy’ powered by the depth, reach and consumer-enabling capabilities of Social. This new online economy will be the ‘next big thing’ in e-commerce models, and will focus around harnessing and showcasing the purchase intentions of consumers worldwide.

It will involve the matching of consumer purchase intent with the readiness of sellers to meet it via e-commerce platforms with a strong social focus. On a practical level, consumers will announce what they intend to purchase via various platforms, and sellers will move to accommodate them.

A new brand of social commerce

‘Deal of the day’ websites such as Groupon and LivingSocial have already made inroads into social commerce. The only issue is that they have merely scratched the surface of what is possible, if even that. Indeed, their model is actually the complete reverse of the 'intention' model. Instead of allowing consumers to announce their intentions in a targeted, structured and customised way, these models are more attuned to a broadcast media, 'scattergun' approach. While Groupon may have been the fastest growing company in history, theirs is a much less effective and far more hit and miss model – and all the evidence points to consumers having become jaded with the irrelevant daily deals email ‘blast’, likening it almost to spam. You may even be reading this and nodding your head in agreement.

What are the benefits of this new Intention Economy?

There are a number of key upsides associated with this new economy for consumers in particular:

Collective buying power

This is the number one consumer advantage. Why purchase something alone, when you can purchase with others to get what you want at a lower price? Group together with others who have stated their intention to purchase the product or service you want. Watch this collective purchasing power entice vendors to make offers with modest reductions, as opposed to the unsustainable discounts outfits like Groupon demand.

Time-saving efficiencies and an improved overall shopping experience

In the new world of the Intention Economy, you do not need to invest huge amounts of time in scanning different websites and performing comparison checks to ensure you are getting the best deal. Simply announce your intention to purchase along with a specified group, name your budget, and sit back and watch as the purchasing power of the group compels sellers to make you an offer that fits your criteria. Job done.

Social proof

If you can see at a glance that others with the same interests as you are looking for the same product or service, this gives you the reassurance that you are making a solid purchasing decision. It also gives you that general reassurance of being part of something bigger – we are social animals after all.

How will we recognise the arrival of the Intention Economy?

Aside from Facebook’s imminent foray into the Intention Economy, there is already some limited evidence of the new paradigm in action. Campaigns such as Dell Swarm have allowed consumers to join together and exert their collective buying power by purchasing big-ticket items in groups. This is a win-win for both buyer and seller. Consumers save, whilst businesses get to make sales in bulk, gain new customers, advocates and repeat custom. They can achieve all this while enhancing their brand image and drawing attention to their product or service offering via the social networks, forums, and community websites where buyers are apt to spread details on the opportunity to purchase together.

The benefits do not stop there. Businesses may also have the opportunity to gain access to a rich source of data on the purchasing intentions of their consumers via the platforms which enable this new brand of social commerce. The most obvious one, as mentioned, is Facebook – but there will inevitably be new platforms and applications outside of the enclosed network which will allow businesses access to this invaluable source of market intelligence.

The real movement towards this new economy, however, may only arrive with the emergence of the future start-ups and entrepreneurs who wish to grasp with both hands the opportunities the Intention Economy provides. It is only a matter of time before we start to awaken to the value of a truly socially-enhanced way of executing our purchasing decisions in transforming the future of e-commerce.

What are your thoughts on this prospective new Intention Economy? Do you see clear benefits for both business and consumer?

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The post The Future Of E-Commerce - Where Intention Meets Social appeared first on Tweak Your Biz.

Of course, as a business owner, you are likely to be rushed off your feet, and for many small to medium sized businesses in particular, while your website may be a priority – when time is at a premium, it can slip down the list of areas you need to cover. With this in mind, in this article I would like to discuss a few simple but effective ways to help kick your website into shape and start getting the return on the investment you put into it. Let’s get started!

# 1. Sort Out Your Home Page

Let’s face it - there is little sense in having a website at all if your home page isn’t up to scratch. Your home page is inevitably the main port of entry for most visitors to your site, and if you want to wow potential new customers - then let’s make sure it is doing you justice.

I recommend ensuring that you have three key elements in place:

1. A one-line summary or statement of what it is you do or offer, displayed either in your logo / slogan, or in a prominent heading located in the top-half of your home page. Remember – the average attention span of a web user is ever-decreasing, and so you need to grab your site visitors and let them know what you can offer them! Otherwise, they may simply bounce away from your site altogether - and find their way to your competitor’s neatly executed home page instead.
2. A compelling call-to-action for what it is you want your site visitor to do. If there was one action you would want someone arriving on your site to take - what would it be? For most, it will involve calling your business, sending you an email, making a purchase on your online store, or signing up to your newsletter. The easiest way to maximise the chances that they take this action is to detail the primary call-to-action on your home page in a visible way. I often recommend implementing this either just above the main image on your home page, or on the top-right hand side of the page, with a short and succinct sentence. If your primary goal is customer contact, add your phone number or email address via a ‘Contact Us’ label on the top-right hand side of the home page.
3. A strong visual appeal. In short – wow your site visitor. Make it so that they instantly remark – ‘wow, nice website’! The sharpest, most ‘on-the-money’ websites I have encountered all tend to have a strong visual appeal, usually achieved via a slideshow of images, a pleasing colour-scheme, or clever use of design elements such as buttons, links and forms. A great way to start here is to look for or analyse websites that you admire. There will be elements that you can borrow and take inspiration from, whilst still stamping your own style and mark upon them.

Remember, if your website is your store front, then your home page is the front door. Keep it smart, tidy, effective - and a destination that will compel people to keep coming back to knock on when they need what it is you have to offer.

Related: Using Your Website To Target Your Ideal Customer

# 2. Give People Something Of Value

I spend a lot of time online. It is both my job to be online, and I also just enjoy reading useful, informative and inspiring articles in the areas related to what it is I do. The clincher, however, is that I can count on one hand the number of websites (excluding social networks) that I visit on a regular basis. And the reason there are so few is because they collectively fulfill a need I have for interesting, relevant and compelling content that makes me want to come back each time.

The net result is that they command my attention and are consistently on my radar as ‘go-to’ places on the web, which inform, inspire and provide quality content on what matters most. This makes them stand out from similar websites or businesses which don’t invest the time or resources in meeting this need.

When it comes to your website, do you want to be easily forgotten, or do you want to be a ‘go-to’ place for your customers and prospects? If the latter, then start creating value for them that will compel them to keep coming back to you. The difference that makes you stand out is proportional to the effort you put in to grabbing, engaging, and keeping your readers on board.

In practice, this is easily achieved through implementing one or more of the following features on your site:

• A frequently-updated and engaging blog, filled with useful, well-written, relevant content
• An 'Articles' section, which might contain industry case studies or white papers of interest
• A 'Reviews' section, a ‘Useful Tips’ page, or any resource that provides value to your visitors

The key is to create content regularly, and keep things fresh, up-to-date, and continually delivering real value for your readers.

Related: Redesign Your Website – Without The Heartache

# 3. Bring In The Trust Factor

Remember the adage – ‘People buy from people’? Of course, and why should it be any different with the online experience? All things being equal, you would rather buy from a site you perceive as trustworthy, reputable, and easy to interact with - than one that lacks these qualities. There are several simple but often neglected ways that you can improve your website’s trust factor:

• Company name, address and contact details: Ensure that these are located either in the footer of your home page, or via a visible ‘About Us’ or ‘Contact Us’ page
• Company registration number: This lends your business an air of trust from the get-go, since you are allowing your visitor to see that if needs be, they can check you out through official channels
• Testimonials: I recently chose a service provider based on the strength of their website testimonials, along with the expertise they demonstrated via their blog and general online presence. Testimonials from those who have purchased the product or service you provide are a massive endorsement in the eyes of those you hope will purchase the product or service you provide! Don’t neglect this avenue, and don’t be afraid to ask for testimonials from past and existing happy customers.

I hope that this article has provided you with some valuable pointers that you can now run with and implement quickly and efficiently. Give your website that extra boost it may need, and you may likely find that the return you receive is far greater that the effort you put in. Good luck!

Related: Five WYSIWYG (What You See Is What You Get) Website Builders

What tactics have you used in the past to give your website a lift? What grabs your attention most on other websites, when it comes to making a purchase decision, or when deciding whether to contact a business?

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The post 3 Simple And Cost-Effective Ways To Improve Your Website appeared first on Tweak Your Biz.

I would like to explore some ways that you can seek to stand out from the competition, gain more admirers, and ultimately, do more business through investing your time wisely online.

# 1. Be An Evangelist

This one simply boils down to championing your chosen online medium, and showing the rest of them how it’s done. Tonnes of businesses out there today have Facebook pages, Twitter profiles, a LinkedIn presence, and some are active on question and answer community websites like Quora. Your time is very likely limited, so why not choose one single medium, dedicate the bulk of your time to it, and be seen as an outstanding example of someone using that medium to huge effect?

The network or channel you choose will depend on your business sector (for example Twitter is generally more effective for B2B, Facebook more for B2C) – but the point still holds. Be an expert and prolific user of one medium, and set an example for the competition to attempt to follow! This also helps you set a foundation for success across other online networks and platforms, should you choose to use them.

# 2. Be Different

Another simple but potentially very effective tip that can be summarised into one point – ‘what could you do differently?’ In order to answer this question, it may be useful to take a look at up to three or four core functions or operations that make up the main part of your business activities, and ask how you could give them that ‘digital edge’. One simple way to fast-track the ideas process is to look for what other businesses are doing that shows them thinking and acting differently.

One example I have seen recently is a clever use of Twitter by a taxi firm. When people think of booking or hailing a taxi, they may think of taxi booking apps, or perhaps the humble telephone call. But what about reserving a taxi via Twitter? And what about the taxi firm tweeting you when they are outside, and then thanking you for your custom via a nice tweet later on? Don’t forget that Twitter is an open platform, and some users may have thousands or tens of thousands of followers who will see their tweet in response to one of your tweets. After all, that was how I saw this innovative piece of social media marketing and communication in action.

Related: Is Your Digital Self More Powerful Than You?

# 3. Be Authoritative

Did you know that one of the main factors that makes Google rank your website in first or second position is how ‘authoritative’ it is? Well, the same goes for your online efforts. Just as websites are bestowed levels of authority, so are you! If you want to propel your business forward and get that digital edge, you have got to give yourself that same edge on a personal level to bring things forward. What that simply means is grasping the opportunity to demonstrate your knowledge of your business sector to those who are interested in learning and interacting.

Practically speaking, this means taking the opportunity to be active and visible wherever it is your audience spends time. Could you join an industry-focused online forum and give your advice for free on the bulletin boards? Could you jump onto Quora and join the debates? Or how about participating in the various LinkedIn Groups? The possibilities are endless. Just make sure to give willingly, without a ‘salesy’ approach, and always be courteous and ever-mindful that there is a real person behind the username. Think in terms of pulling people towards you by virtue of sharing your knowledge and expertise freely, rather than a broadcast approach of pushing messages and pitches towards them.

# 4. Be Relevant

The internet loves content – so be relevant and give people what they need. People are only too eager to soak up quality content that teaches them, inspires them, and helps them achieve their own objectives and goals in life.

For example, I enjoy reading a particular fitness-related blog on a regular basis, and check it at least once a week or so for new updates. The quality of content is very high, and the style of writing keeps me coming back for more. Not only that, but it also helps to form a positive association in my mind with the writer of the blog, in this case a highly-regarded personal trainer. This means that if I ever want to engage their services, I am more primed to consider this trainer/blogger than someone I have never heard from, as I am assured by the fact that the content they produce speaks to the confidence I can have in them.

Related: Content Planning: How To Get Started

# 5. Be Valuable

When you consider it, almost all of the things you buy, read, consume, enjoy and seek out have a common factor – they provide value. It is no different when carving out your digital edge. Provide something of value in a freely-giving manner, and ‘give more value than you capture’. In other words, the business of excelling online is not much different to excelling in ‘real life’.

Being generous with your time, expertise and knowledge should also be a natural part of how you interact and put yourself forward in the virtual world – and this can only bring its own benefits that extend far beyond the efforts you invest.

What are your top tips for achieving a ‘digital edge’? What is working well for your business and what would you consider trying that you haven't explored before?

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The post Get Working On Your 'Digital Edge' To Excel Online appeared first on Tweak Your Biz.