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64: Unlock the Mystery: Behavioral Economics with Melina Palmer

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What prompts a customer to buy?

It's the magic question of marketing.

While we humans are not logical, we are very predictable.
-Melina Palmer

Behavioral economics, simply put, is the psychology behind why people buy: understanding how the brain works and how that impacts purchasing decisions.

It's understanding that the brain is bombarded with information, all day, every day.

It's knowing that the brain has preferences, irrational as they may be, and by truly understanding your customers and giving them a gentle nudge in the direction of those preferences can make a huge difference for your business.

This week on the Businessese Influencer Marketing Podcast, we're super excited to talk to Melina Palmer about leveraging behaviorial economics to improve conversions! Melina is the host of the Brainy Business Podcast, where she uses behavioral economics to unlock the mystery behind those small changes that make an impact— resulting in messaging, branding, advertisements, pricing and products that are more “brain friendly” (and profitable). She also helps others understand and apply these concepts as a strategist and a speaker.

Tune in as Melina discusses:

  • loss aversion as a valuable way to drive purchases
  • how changing one word in sales copy led to a 38% increase in sales
  • a slight shift in the pricing structure on your website that can translate into big sales
  • how many times a person needs to be exposed to something before they take action
  • strategies to encourage your audience to click and convert through affiliate content
  • the best way to disclose sponsored work while retaining authenticity

Do you find this topic as fascinating as we do? Let us know in Businessese HQ!

Resources:
The Brainy Business
Free download: The 10 Behavioral Economics Concepts You Need To Know AND HOW TO APPLY THEM
Melina on Facebook, Instagram, YouTube, Twitter and LinkedIn
A More Beautiful Question: The Power of Inquiry to Spark Breakthrough Ideas by Warren Berger

If you enjoyed this episode, you might want to check out:
From 11 Clients to 7-Figure Business with Amanda Tress
Building Your Brand Strategy with Stacey Ferguson
Creating Authentic Sponsored Content with Patrick Quinn
Mind Your Mindset: Interview with Don Jackson

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63: Unlock the Mystery: Maximizing Ad Revenue with Amber Bracegirdle

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maximizing ad revenue with amber bracegirdle

Think display ads are a waste of time and website real estate?

Think again.

For many bloggers, running ads was a first, failed attempt at monetization. Frustrated with a lack of control over what ads were served to their readers, an impossibly slow load time, and/or an unexpectedly low payout, they eventually chalked the experience up as a lesson learned, removing the ads and never looking back.

But like everything else on the digital landscape, advertising has changed and evolved. Running display ads can most definitely generate real revenue, providing a lucrative and relatively passive income stream. The key is optimizing your site for your advertising— and your advertising for your audience.

There is always a loss in user experience to add advertising to your site. That doesn't mean don't do it. It just means that the return on that advertising needs to be worth it.

Amber Bracegirdle

This week on the Businessese Influencer Marketing Podcast, Amber Bracegirdle unlocks the mystery behind best practices for maximizing ad revenue. Amber is a co-founder at Mediavine, a full service ad management company working with 4000 bloggers across the entire lifestyle spectrum, as well as the managing editor of FoodFanatic.com and co-host of the Theory of Content podcast.

Amber is all about SEO and making the business of blogging better, and she shares all the good stuff in this episode! Listen in as she goes over:

  • why placing ads on your site can be a gamechanger
  • how Mediavine's ad system differs from others, generating more income
  • “affiliate marketing and ads don't mix” and two more digital advertising myths
  • how display advertising affects SEO
  • how website owners can optimize for ad income— and the biggest mistakes they often make
  • who should start adding ads to their site (hint: it's not everybody)

What has your experience running ads been like? What are your top tips— or your most trying trials? Let's talk it out over in Businessese HQ.

Resources:
Mediavine and the Mediavine Facebook group
Food Fanatic
The Theory of Content podcast
Travel Blogging and Monetization with Amanda Williams
The Outlander series by Diana Gabaldon and the Harry Potter series from J.K. Rowling
How Not to Hate Your Husband After Kids by Jancee Dunn
Contact Amber: amber@mediavine.com

Liked this episode? You should check out:
Monetization Tips for Influencers with Jenny Guy
From Hobby to Full-Time Food Blogger with Liz Falcigno
Monetizing with Affiliate Marketing with Angel Djambazov

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62: Unlock the Mystery: Narrowing Your Niche with Sarah Trenalone

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They say that the riches are in the niches. But what does that mean, exactly? How does finding your focus translate into more income, and how do you decide on that focus in the first place?

This week we're welcoming Sarah Trenalone to the Businessese Influencer Marketing Podcast! Sarah is a food lover, traveler, and recipe developer at Champagne Tastes. Sarah first translated her B.F.A. in Fine Art Photography and M.A.T. in Art Education into a decade as a wedding photographer, but has moved on to a much tastier job– food writing and photography.

Champagne Tastes was started on a whim with a broad recipe base and no eye towards monetizing, but Sarah has found success through narrowing her niche to better serve her ideal reader (who she defines as an urban hippie, reconnecting with nature through food and sustainable recipes from the earth and sea while cooking in a smaller kitchen).

Listen in as Sarah walks us through:

  • the process of narrowing her niche
  • where she is financially with her blog business
  • her current income streams and what new ones she is looking to incorporate
  • the steps she's taken to generate more time and traffic
  • her advice for those just starting out, or just starting to monetize
  • how she approaches brands for partnerships

Who is your ideal audience, and how can you narrow your niche for them? Let's chat over in Businessese HQ!

Resources:
Champagne Tastes
Sarah on Facebook, Twitter, Instagram and Pinterest
Rebecca by Daphne Du Maurier

Hey! You might also like:
From Hobby to Full-Time Food Blogger with Liz Falcigno
1% Infinity: Next Level Food Blogging with Bjork Ostrom
Monetization Tips for Influencers with Jenny Guy
Hiring and Growing Your Team with Shelli Warren

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61: Unlock the Mystery: Launching a Subscription Box Business with Kelly Pugliano

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Who doesn't love a subscription box? Whether you received a subscription as a gift or if you subscribed as a gift to yourself, it's exciting to have that box arrive in your mailbox and to reveal the surprises inside. This particular business model has been booming: the market has grown by 890% since 2014, and 2017 saw a 10% increase over the year before.

We're so happy to have Kelly Pugliano on the podcast this week to talk about launching a successful subscription box business. Kelly is an entrepreneur, speaker, award winning writer and photographer, and the founder of Eat Picks. Inspired by her love of farmers' markets and her desire to help support small businesses and local artisans, Kelly founded Roost Crate, a subscription service curating unique, thoughtful, creative artisan gifts.

I decided that at that stage in my life I needed to pursue my own dream rather than supporting someone else's.

-Kelly Pugliano

Tune in to learn about:

  • Kelly's pivots from mom blog to food blog to launching her own business
  • how and why she made the decision to launch Roost Crate
  • how long she planned and the steps she took pre-launch
  • her decision to bootstrap vs taking on investors
  • some of the challenges Kelly faced during and post-launch
  • her insights about maintaining her blog while managing and scaling her business

Plus, one super helpful tip for taking professional-looking photos with your phone.

Any other money mysteries you'd like unlocked? Shout 'em out in Businessese HQ.

Resources:
Roost Crate and Eat Picks
Roost Crate on Facebook, Twitter, Pinterest and Instagram
Eat Picks on Facebook, Twitter, Pinterest and Instagram
Titles from author Dan Brown
Building a StoryBrand: Clarify Your Message So Customers Will Listen by Donald Miller

Liked this episode? You might want to check these out:
From 11 Clients to 7-Figure Business with Amanda Tress
Monetizing a Hyperlocal Blog with Melissa Wise and Cassie Mascari
Embracing Your Inner Salesperson with Nikki Rausch
Going from Side Hustle to Full Time Hustle with Mary Clavieres

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60: Unlock the Mystery: Financial Planning for Your Small Business with Sylvia Inks

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Only two-thirds of businesses stay in business two years, and only half of small businesses will make it to the five year mark. This can happen even when a business appears to be doing well, if the owner isn't taking a hard, realistic look at their finances and planning accordingly. When margins are slim, it can only take one unexpected expense—or an unfortunate series of small expenses—to derail a business's bank account.

There may not be a foolproof formula for success, but knowing how to manage your money well is definitely an ingredient.

You have to get comfortable with those numbers if you want to survive and thrive in running your small business.

-Sylvia Inks

Maybe you think you're not great with numbers, or you're not sure where to begin when it comes to financial planning for your small business, but the last thing you want to do is avoid dealing with your bottom line.

The good news is, you don't have to be an accounting expert to have the financial skills necessary to maintain a profitable business! This week on the Businessese Influencer Marketing Podcast, business finance coach Sylvia Inks unlocks the mystery around budgeting and other financial considerations for the self employed. During her ten years with one of the world's largest consulting firms, Sylvia worked with Fortune 500 organizations in financial services, insurance, healthcare and technology to improve processes, performance and profitability. Now through her own business, SMI Financial Coaching, she acts as a step-by-step guide to learning the business and financial skills entrepreneurs need for success, so they have the money and time to so what they want, when they want to do it.

In this episode, Sylvia discusses:

  • business expenses many entrepreneurs overlook
  • forming a financial plan when transitioning from a full-time job to running your own business
  • how financial planning for your business differs from planning for your personal life
  • how much business owners should have saved in case of emergency or to make it through a lean season
  • when it makes sense to take on debt when starting your business
  • helpful financial planning tools for small business owners

What are your questions about financial planning for your small business? Let us know in Businessese HQ.

Resources:

Sylvia's websites: SMI Financial Coaching and Small Business Finance Book
SMI Financial Coaching on Facebook and LinkedIn
Sylvia's book: Small Business Finance for the Busy Entrepreneur: Blueprint for Building a Solid, Profitable Business
The Four Tendencies: The Indispensable Personality Profiles That Reveal How to Make Your Life Better (and Other People's Lives Better, Too) by Gretchen Rubin

You make also want to check out:

Spend or Skip? Where to Invest in Your Influencer Business
Our Top Money Lessons
The Financial Side of Your Online Business with Cathy Derus
How to Handle a Late Client Payment
Tax Tips for Your Online Business