Five Things To Know This Week:
1) Should You Buy Social Media Ads?
2) HR Trends Impacting the Future of Small Business
3) Americans Embrace Chatbots
4) Are You Burnt Out?
5) Resource of the Week: Collegiate Entrepreneurs Organization (CEO)
I have three additional quick notes for the newsletter this week. Friday, April 22nd, is Earth Day. Let’s all do something to make the world a better place for the next generation (and keep paying it forward). Saturday, April 23rd is National Record Store Day. I LOVE this day and plan on going to a few local record stores in NJ with my son to buy some vinyl records. Let me know if you’re planning to do the same and what you buy. Lastly, voting for the Barclays “Small Biz, Big Wins” contest ends on Friday, 4/22. See the links below to support your favorite business of the 10 finalists.
Thanks for your support and the feedback. Both are greatly appreciated.
Brian Moran, CEO
Small Business Edge
Brian Moran & Associates
Special Message From Our Sponsor:
Barclays US Consumer Bank’s “Small Business, Big Wins” Campaign is Down to 10 Finalists!
More than 4,700 small business owners entered Barclays US Consumer Bank’s “Small Business Big Wins” promotion in February and March. Judges have since narrowed the field to 10 finalists vying for a $60,000 grand prize.
The promotion invited small businesses from across the nation to share how they met the unique demands of 2021 for a chance to win the grand prize or one of many cash prizes. The total prize fund for the promotion is $255,000.
Here’s your chance to get involved. From April 13 through April 22, the public will have a chance to review the stories of the top-10 finalists and vote for their favorite small business at BarclaysSmallBizBigWins.com.
The announcement of contest winners for the top 10 will take place on May 3 to coincide with National Small Business Week. In addition to the top-10 prize fund, all businesses outside of the top 10 that submitted qualifying entries were entered in a random drawing to win one of 50 $2,000 sweepstakes prizes.
For more information and to vote for the finalists, visit BarclaysSmallBizBigWins.com. Best of luck to the small business finalists!
Should You Buy Social Media Ads?
A new survey from Visual Objects reveals that 70% of small businesses plan to invest in social media advertising this year. In fact, 26% expect to spend between 10% and 30% of their advertising budget on social media.
Facebook retains its top ranking for social media ads (70%), followed by YouTube (54%) and Instagram (52%). And 38% of small businesses consider Facebook the most effective social media advertising tool.
Read more about small businesses buying ads on social media.
HR Trends Impacting the Future of Small Business
While you likely don’t have an HR department at your small business, if you have employees, you will inevitably face HR challenges. Earlier this year, Sage released its HR in 2030 report featuring HR trends all business owners should know about.
According to the report, “diverse workstyles,” such as a four-day workweek and hybrid workplaces, are “likely to be the norm.” And it says, “future-focused organizations will benefit from broadening the definition of DEI (Diversity, Equity, and Inclusion) beyond ethnicity and people with disabilities to include diversity of personality, emotional intelligence, wider experiences, more appetite for risk, the ability to adapt, as well as thinking differently and neurodiversity
Read more about the HR Trends that will affect your small business.
Americans Embrace Chatbots
Conversational marketing agents, or chatbots, have become practically ubiquitous on the internet today. VentureBeat reports that according to Botco.ai, 80% of consumers say they’ve used a chatbot in the past. And 70% say chatbots typically answer all or most of their questions satisfactorily.
Should you use a chatbot at your business? Most companies do—93% of marketing professionals report their companies currently use chatbots to interact with prospects and customers. And 87% of companies not currently using chatbots plan to do so in the future—half of those expect to get started within the year.
Learn more about the use of chatbots.
Are You Burnt Out?
We all have days (or weeks) when it feels like we can’t go on—and yet, we know we have to. The Chatsworth Consulting Group says following the “5 Ps” will help. They are:
- Practice self-care
Read more about the 5 Ps and how they can help you keep going.
Resource of the Week: Collegiate Entrepreneurs Organization (CEO)
The Collegiate Entrepreneurs’ Organization (CEO) is a national membership organization that strives to propel students into entrepreneurship, social and professional spheres of power worldwide. Its mission and vision are to provide student entrepreneurs with opportunities, events, chapter activities, and conferences.
Launched in 1997, the CEO informs, supports, and inspires students to be entrepreneurial and seek opportunities through enterprise creation. CEO currently supports entrepreneurship in over 250 chapters across all 50 states and globally.
Learn more about the CEO.