Small Business Jobs Added

According to the June 2020 ADP Small Business Report, small businesses added 937,000 jobs to the American economy from May to June.

The most jobs gains came from the smallest businesses, those with 19 or less employees. Those companies added 574,000 jobs from May to June. Companies with slightly more employees added 363,000 jobs in that time.

Goods-producing small businesses added the other 208,000 jobs in that time.

Customer Communication During the Pandemic.

Most businesses will benefit by interacting  with their customers more not less. In the process, your customers will have more questions about your service and any issues they face now will be even more time sensitive.

One of the biggest challenges in communicating effectively with customers is that now they can contact your business in so many ways.

The solution a company implements will depend on the demographics of its customers and how they want to communicate. It is recommended to use online chat and text messaging since this can reduce interaction costs and increase service levels.

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Unused Assets Cost American Companies $55 Billion in March and April

New data shows unused business assets - like empty offices or company vehicles that don't move - in March and April totaled $55 billion.

Business assets, such as office space, company-owned vehicles, and mobile phones become costly expenses when companies are not in the position to use them.

Now, when the Covid-19 has interrupted cash incoming for most small businesses, you should try to find ways to lower overhead and increase liquidity with no upfront fees for these refunds.

Business owners reckon with costly stop and starts as states close them down again!

Governors in Texas, Michigan, Florida, California, Colorado and Arizona are closing thousands of bars, again!

This is causing confusion and anger from bar owners, who say that all bars should not be punished for those who have not enforced social distancing. 

Some bar owners criticized the decision to treat bars and restaurants differently, even though many restaurants also serve alcohol to customers.

Key Marketing Trend and How to Adapt

Your products should be available everywhere.

*Think “mobile first”: This includes having a mobile-friendly website as well as creating more mobile assets to better serve customers. 

*These include mobile apps, in-game mobile marketing, location-based mobile ads, SMS marketing, mobile-focused CTAs, etc. 

*Have your products listed in Google’s shopping actions, Google’s platform bringing your products in front of shoppers across multiple platforms, including smartphones, voice-activated devices, Google search and more. 

 

Another all time high

The MetLife & U.S. Chamber of Commerce Small Business Index rose 0.4 points from 71.3 last quarter to 71.7 this quarter. 

This marks the third consecutive quarter that the Index has set a new record.

Now is not the time to be sleeping!

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Improve your customer success process.

 

Realize is that customer success is rooted in the speed and efficiency of the underlying processes and systems in a business.

Customers need to be happy and satisfied continually.

Business owners need to stay in touch and involved with the customers – and not just if they had a problem.

Sometimes it can be a real problem creating a better customer experience, especially given the fact that you’re probably also dealing with many relentless competitors on the market.

But no matter how ruthless they might be in their approach or methods, always remember not to use the same tactics and dirty tricks they’re using – think of the holiday spirit of kindness, it needs to continue to live on throughout the rest of the year.