We should be used to it by now, every few months Facebook & Instagram find other ways for them to make more money and that has our reach shrinking faster than a $3 shirt from Walmart. They can’t stop a Russian from interfering in our election process but they can sure as hell drop your page likes like a hot potato fresh out of the oven!
Listen, FB knows it, we know it, hell even the kids down the street know it. Even with all of the turmoil, they cause somehow they are still the best marketing game in town. Even with the changes, they are making and there are many it’s still easier and more cost-efficient to run FB ads over any other kind of ad. It just is. There are 2.27 billion (That’s a Billion with a capital ‘B’) and 75% of us log in every single day!
So what are these big changes you ask? Well, let me count the ways…
- The desktop FB feed is getting a total overhaul. There will be an algorithms update sometime in the Fall of 2019.
- Organic Targeting improves your ability to increase your organic reach on FB pages.
- Comments & shares will become more valuable and a heart will be worth more than a like.
- Organic reach will depend on relevancy and quality.
- The more engagement=the more reach.
- On FB mobile feeds you will only allow 3 lines of text & smaller image sizes.
- On Instagram, likes and video counts are going away. Lower interactions and the new social proof is catching one’s interest.
- Removing low-quality posts, the explorer feature or low-quality hashtags.
- Comments will become more important.
So what can you do, the small business owner, that will keep your business in the green & keep you from seeing red when you’re FB or Instagram reach grows smaller and smaller.
- Don’t waste money boosting posts.
- Have a sales funnel in place.
You have to do seven things:
- Grab attention.
- Acknowledge pain point.
- Encourage immediate attention with a great value offer (39% of users will interact with what they see as a good value.
- Maker yourself relevant– Build that know & trust factor.
- Build relationships.
- Capture as little information as possible (Name & email).
- Nurture your future clients.
- Your email list is your most IMPORTANT ASSET!
- Close the sale.
- Follow through and up with.
So what’s the takeaway from all of this information? You can’t beat it and you should probably join them because let’s face it FB ain’t going away any time soon.
Picture this: Your car blows up & your warranty is a thing of the past, you get sick and can’t even go to work much less pay the doctor, your employer folds up and files for bankruptcy or that baby you have been waiting for turns into three right before your very eyes.s What are you going to do?
Your stress level just shot through the roof, but this is life and nobody’s lane is bump-free. Hell, I’m not sure mine is even paved. It’s small things like this that can throw you off track quickly.
According to the Fed’s most recent survey, 40% of Americans would struggle to pay for an unexpected $400 expense without selling something or borrowing money. So whether you think of it as an emergency fund, a rainy day account, a financial cushion, or an “uncertainty fund,” you need one.
HOW MUCH DO YOU REALLY NEED TO HAVE IN AN ‘EMERGENCY FUND’?
At Ellevest, we typically recommend that you set aside three to six months’ worth of your take-home pay for emergencies. That can feel like a really big number, especially if you’re starting from scratch … but it’s one of the most important things you can do with your money. Because imagine if you needed it and didn’t have it. (Ouch.)
We can almost hear you thinking it: Three to six months is kind of a range. How much do I really need? There are two things that come into play during that decision: how much uncertainty you might have to face and your personal comfort level.
The shakier your financial ground is, the more you need to have.
if you freelance full-time as a single mom and own a fixer-upper, you’re probably going to want closer to six months’ (or more) of your salary saved up. (Also, you are a superhero and we bow down to your amazingness.) Or if you’ve been in a steady, salaried job for a while, share finances with someone (like a spouse), and have no dependents and no mortgage, three months is probably good for you. (Heck yeah. You’re killing it.)
But maybe you’re in a stable, salaried job and share finances with someone in a stable, salaried job — and yet, three months doesn’t feel like enough security for you. In that case, save more. These are just guidelines, so do what feels best for you. (Just don’t keep all your money in cash. That can really cost you — here’s why.)
Once you’ve decided on how much you need to have there are three things that can help you get there.
- Pay down high-interest-rate debt — anything more than 5% — before you get started. Waiting to pay that debt off can really cost you.
- Find a high-level budgeting guideline that’s flexible enough to work for your life. Like the 50/30/20 rule.
- Work your way up, and set mini-goals along the way. Maybe your first goal is $1,000, and then one month’s expenses, and then two, and then three.
WHERE SHOULD YOU KEEP YOUR EMERGENCY FUND?
Keep your emergency fund in cash in a bank account. Make sure that’s FDIC insured.
Ellevest’s Emergency Fund goal is held in FDIC cash, so that might be a good place. High-yield savings accounts are another option. We don’t recommend putting your emergency fund in a certificate of deposit (CD) or any other type of account that doesn’t let you make withdrawals whenever you want. Don’t risk it.
WHEN SHOULD YOU USE YOUR EMERGENCY FUND?
Definitely an emergency: Anything unexpected that you absolutely must pay for. Your water heater breaks. You have to travel to see a sick loved one.
Definitely not an emergency: Things you want but don’t really need, or things that you could save up for. Think last-minute vacation plans or your annual insurance premiums.
But there’s also a gray area, and that’s different for everyone — here’s Ellevest’s best advice to help you decide what is and isn’t an emergency for you.
Saving up three to six months’ take-home pay, in cash, for emergencies only, is one of the earliest steps you can make if you want to take control of your financial future. (Wondering about the others? We’ve got you. Here are smart money moves to make at every age.)
Are you ready to start investing in your future you? Ellevest can help!
*I’m excited to work with Ellevest to start conversations about women and money. If you become a client, I will be compensated.
Have you come up with excuses why you’re not investing right this minute?
Excuses like these:
- It will be easier once I get that raise.
- I just don’t have time.
- It’s overwhelming to think about learning to invest properly.
- Money just makes me squeamish.
Believe me, I used all of these excuses and even more. I have avoided money conversations my whole life, but at 49 I realize that I am only hurting myself. If I had started younger I’d be much better off when I get older. Still starting is much better than not… at any age.
WE LOSE MONEY EVERY SINGLE DAY WHEN WE DON’T INVEST
“I’m excited to work with Ellevest to start conversations about women and money. If you become a client, I will be compensated.”
Welcome to the sixth in our “Women In Biz All Around WordPress” feature that will run the 1st Sunday of every month. It’s a new series where we spotlight amazing women and the ways in which they have used WordPress to spread their message, sell their products, or provide valuable services.
The hope is to inspire other midlife women to build their online businesses and find what we’re all looking for; financial freedom, a lifestyle they love, and excitement they may have been missing! All of these women are clients of mine who have inspired me over the years and I think they will inspire you as well.
This month I want to introduce Karen Schifman from Artful Amphora. I have longed to be an artist my whole life. I think that people who are given those gifts are spectacular & Karen is a prime example. Karen is also one of my longest clients. I maintain her website for her so she can concentrate on teaching & creating.
Artwork Property of Karen Schifman Artful Amphora.com
The piece above just tore at my heart. Even if you don’t live in California I think the massive fires they have experience tears at the heart of all Americans.
Tell us a little bit about you
I am an art historian, college professor, and mixed-media artist.
What made you first decide to build a blog or website? How long have you had your site?
I was writing a monthly column for an organization that I belong to entitled SCWCA (Southern California Women’s Caucus for Art). It seemed like a good place to archive my articles and then it developed from there.
‘Honoring Virginia’ property of Karen Schifman ArtfulAmphora.com
Amazing work! I love this one as well. Well, actually I love them all! Check out the rest of her pieces HERE
What is your niche?
My column is “Women Around Town” and for the most part, provides details about women artists who are exhibiting in So. California. I also write about art that I encounter when traveling and things of special interest. I write once a month. I have an email list but also post on Facebook for a larger audience.
‘California Girl’ property of Karen Schifman Artful Amphora.com
Of all of your blog posts or pages on your site which is your favorite?
What is your favorite social media platform and why?
Facebook. That is where most of the people I know post. I have an Instagram account, however, I am not used to it quite yet.
Do you find WordPress easy to maneuver or do you avoid the back end like the plague?
I avoid the back end.
Is your site a business that makes money or a passion that makes your heart sing?
This is definitely a passion project.
If you use your site for business what do you sell or what service do you provide?
What is one thing you’d like people to know about you?
The one thing that I would like people to know about me is that I am passionate about art and supporting women artists.
Ladies can I get an AMEN?!? We need more people like Karen who want to build women up instead of tearing them down. Mentoring the women coming up behind her. As a woman, I just want to say thank you.
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