Small Business Quick WINS with Jay Schwedelson: Episode Summary

Episode Title: Small Business Strategies for the New Year with Stephanie Love
Release Date: December 26, 2024
Presented By: Thryv
Host: Jay Schwedelson
Guest: Stephanie Love

In this engaging episode of Small Business Quick WINS, host Jay Schwedelson teams up once again with Stephanie Love from Thrive to delve into strategic approaches for small businesses as they gear up for the new year. The conversation seamlessly transitions from actionable business strategies to a playful debate on holiday movies, ensuring both insightful and entertaining content for listeners.

1. Preparing for the New Year

A. Refreshing Marketing Materials

As the calendar flips to a new year, Jay emphasizes the importance of updating all marketing materials to reflect the upcoming year. Stephanie concurs, highlighting the need to eliminate any references to the previous year to maintain a fresh and relevant brand presence.

• Jay Schwedelson [00:56]: “If you're not mentioning 2025 and it becomes a negative signal for your brand... it will pull down conversions from potential new customers.”

• Stephanie Love [01:58]: “We gotta make sure that we're not thinking about last year at all. It's time to focus on next year.”

B. Avoiding Negative Signals

Jay introduces the concept of negative signals, explaining how outdated information can harm a brand’s reputation and reduce customer engagement. He warns that maintaining references to the current year past its relevance can inadvertently signal stagnation to potential clients.

• Jay Schwedelson [02:17]: “Negative signal is when somebody goes to your site, they see outdated information... it could become a negative signal for your brand.”

C. Timing Marketing Efforts in January

Stephanie provides insights into consumer behavior in early January, describing how the initial weeks post-holidays can be sluggish as people recover from holiday activities and adjust to New Year's resolutions.

• Stephanie Love [03:09]: “The first couple of weeks might be a little slow, but then after that is when we'll probably start to see a little bit of a pickup of your marketing efforts.”

Jay reinforces this point, advising business owners to be patient and persistent, recognizing that immediate responses may not materialize until the second week of January.

• Jay Schwedelson [03:36]: “They need that second week of January to hit, to really get it all rolling.”

2. Building Customer Loyalty

A. Implementing Simple Loyalty Programs

The discussion shifts to the significance of fostering customer loyalty as a cornerstone for sustained business growth. Stephanie outlines practical ways to establish loyalty programs that encourage repeat business.

• Stephanie Love [04:20]: “End of year holiday deals that bring people back into your business is kind of a great way... refer a friend programs are really easy to build.”

Jay adds to this by suggesting straightforward loyalty initiatives that recognize and reward existing customers, thereby enhancing customer retention.

• Jay Schwedelson [04:56]: “Send out an email and say, just for our VIP loyal customers, and then give them something special. You re emphasize in the subject line... this is a gift to you from us to thank you for your business.”

B. Valuing Existing Customers

Stephanie underscores the often-overlooked value of expressing gratitude towards existing customers, arguing that retaining customers is more cost-effective than acquiring new ones.

• Stephanie Love [05:39]: “Businesses are so focused on just selling and selling and selling, but it's actually less expensive to retain existing customers than to bring in new ones.”

Jay reflects on his personal experience, acknowledging that his own company sometimes neglects existing customers, reinforcing the episode's message on the importance of customer loyalty.

• Jay Schwedelson [06:01]: “That's a mistake. In my own company... we don't focus on our existing customers enough.”

3. Fun Debate: Are These Holiday Movies?

Transitioning to a lighter segment, Jay and Stephanie engage in a spirited debate about whether certain popular movies qualify as holiday films. This segment not only provides entertainment but also subtly highlights the importance of understanding your audience’s preferences—an essential aspect of effective marketing.

A. Die Hard as a Holiday Movie

The debate kicks off with the perennial question: Is Die Hard a holiday movie?

• Stephanie Love [06:30]: “No. The problem is... Die Hard, it's a little too aggressive for me.”

• Jay Schwedelson [06:32]: “The essence of the movie is the holiday party setting. Without it, none of this would have happened.”

Stephanie maintains her stance, preferring more joyful and less aggressive films during the holiday season.

• Stephanie Love [07:20]: “I want something, like, happy and joyful, not like sneaking through air duct vents... not my.”

B. Mean Girls as a Holiday Movie

Next, they tackle Mean Girls, examining its seasonal elements.

• Stephanie Love [07:39]: “Absolutely not. Just because there's one scene in Christmas attire doesn’t make it feel like an appropriate holiday movie.”

Jay disagrees, arguing that key holiday elements are integral to the film's storyline and conclusion.

• Jay Schwedelson [07:57]: “Once again, without that, there would be no ability for it all to come together. So to me, this is the ultimate holiday movie.”

Stephanie remains unconvinced, emphasizing that the holiday setting is not central to the plot.

C. Rocky as a Holiday Movie

The final round introduces Rocky, pushing the boundaries of conventional holiday films.

• Jay Schwedelson [08:53]: “Rocky IV is a holiday movie, so nobody at me.”

Stephanie humorously admits to not having watched the Rocky series, prompting light-hearted banter.

• Stephanie Love [08:54]: “I haven't seen any Rocky movies.”

Jay encourages listeners to engage with classic holiday-themed films, highlighting the importance of tradition and familiarity in audience preferences.

• Jay Schwedelson [09:10]: “Everyone needs to reach out to Stephanie Love on LinkedIn and say, what is wrong with you?”

4. Conclusion and Takeaways

As the episode draws to a close, Jay and Stephanie recap the essential strategies discussed, emphasizing the importance of updating marketing materials, timing marketing efforts effectively, and valuing customer loyalty. The playful movie debate adds a memorable and relatable touch, reinforcing the episode's blend of practical advice and engaging conversation.

• Jay Schwedelson [10:05]: “Stephanie, you're awesome for being here. ... Thrive.com is the ultimate solution for small businesses.”

• Stephanie Love [10:05]: “Yes, Happy holidays everyone.”

The episode wraps up with a call to action, encouraging listeners to subscribe for more insights and to leave reviews if they've found the content valuable.

Key Takeaways:

1. Update Marketing Materials: Ensure all references to the previous year are removed to avoid negative signals and maintain brand relevance.

2. Strategic Timing: Recognize that early January may be slow due to holiday recoveries, but persistence can lead to increased engagement in the following weeks.

3. Customer Loyalty Programs: Implement simple and effective loyalty initiatives to retain existing customers, which is more cost-effective than acquiring new ones.

4. Express Gratitude: Regularly thanking and rewarding loyal customers can significantly enhance customer retention and satisfaction.

5. Understand Your Audience: Engaging in light-hearted debates and understanding audience preferences can strengthen customer relationships and brand affinity.

Listeners are encouraged to visit Thryv.com to explore comprehensive business management solutions tailored for small businesses, ensuring they have the tools necessary to implement the strategies discussed in this episode.