Gail Z. Martin owns DreamSpinner Communications (www.DreamSpinnerCommunications.com) and has over 20 years of corporate and nonprofit experience at senior-executive levels. Reach her at gail@dreamspinnercommunications.com.

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T R E N D S

Bosses turn to shorter workweek to save gas 

The recent surge in gasoline prices is causing many U.S. employees to rethink their commutes to work. In an effort to retain workers who might be considering quitting and finding a new job at a company that is closer to home, more employers are offering a 4-day workweek as a perk that reduces the number of gas-guzzling commutes.

Gasoline prices have begun altering U.S. commutes in many ways, according to a recent survey. Some 44% of respondents said they have changed the way they commute — doing things such as sharing a ride or driving a more fuel-efficient car — or are working from home or looking for a closer job in order to reduce gasoline costs, according to staffing services company Robert Half International.

By allowing employees to work four 10-hour days, they can save 20% on their weekly commute costs. Furthermore, the shorter workweek offers employers a way of rewarding employees when the budget does not allow a salary increase. 

Source: Financial Week, May 30, 2008  

Retail theft on the rise, technology offers relief 

Shoplifting is rising at many retail stores, and experts are pointing to the economy as the prime cause. Retail and law enforcement experts agree that they’ve seen an increase in store theft — and not only from customers. According to the latest National Retail Security Survey, about half of losses from “shrinkage” came from employee theft. Shoplifting, in contrast, accounted for about one-third.

Small businesses often can’t afford the security solutions big companies favor, but a host of less expensive technologies are now filling the void. For example, new security systems are allowing bosses to keep tabs on things while they are away from the store. Companies such as Alarm.com offer Web portals where the owner can get remote feeds from security cameras, change entry codes and trigger sensors that monitor systems such as lighting and climate control.

A problem among restaurants is “skimming,” where cashiers steal customers’ credit-card information. A device called On the Spot lets customers swipe their credit card at their table, punch in the tip amount and print out a receipt to sign.

Many stores must deal with cashiers who sneak products to their friends and family by pretending to scan the items. Companies such as StopLift Inc. combine security cameras with sophisticated software that identifies fraudulent movement. The software records the possible theft and notifies management. 

Sources: USA Today, June 18, 2008; WSJ.com Small Business, June 2008  

Is everyone turning a little green? 

Marketers typically target environmentally friendly products to younger consumers, but a new study finds that energy savings appeal to mature consumers, as well. Research from BurstMedia found that U.S. Internet users ages 18-24 had a greater tendency than older groups to “completely” integrate green behavior into their lives (9.7%); however, mature respondents (ages 65 and over) were the most likely age group to “somewhat” integrate green behavior (88%).

In addition, a Harris Interactive poll of U.S. Internet users’ environmental activities found that mature respondents were the most likely group to engage in energy reduction in their homes, purchase energy-efficient appliances, buy more locally grown food and break their bottled water habits. Further, in the first two of those categories, the second-most-active group was the baby boomer generation (ages 44 to 62).

A 2007 survey of the shopping behaviors of U.S. baby boomers by AARP and Focalyst found that 70% of respondents use their purchasing power to buy environmentally safe brands. These “green boomers” are more demanding of quality in the products and services they buy, more attuned to advertising and more likely to exercise brand loyalty than other members of their generation. 

Source: eMarketer.com, June 23, 2008  

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N E W S

With age comes perspective about economy 

Age appears to be an important determinant regarding how entrepreneurs perceive today’s economy. Small business optimism is at the lowest point in the six-year history of the OPEN from American Express Small Business Monitor, a semi-annual survey of business owners. However, entrepreneurs over the age of 60, perhaps due to having endured downturns, don’t believe that things are so bad. For them, the biggest challenge to growth is not an uncertain economy but the rising costs of doing business (27%). Nine in 10 entrepreneurs over 60 (92%) describe themselves as seeing “the glass as half-full” (vs. 86% overall).

Why the difference? “Younger entrepreneurs have no frame of reference for what inflation can do to small businesses,” said Dr. Jeffrey Cornwall, professor of entrepreneurship at Belmont University in Nashville, Tennessee.

Entrepreneurs over 60 are taking actions that show they learned from their past experiences with inflation. Although they are generally more optimistic, they are nonetheless being more cautious in their business decisions: only 27% of business owners over 60 report plans to hire over the next six months vs. 38% of small business owners overall; 42% of business owners over 60 report plans to make capital investments over the next six months vs. 53% overall; and 43% of entrepreneurs over 60 are willing to take on a financial risk to grow their business vs. 51% overall.  

Sources: forum.belmont.edu/cornwall; www.americanexpress.com

New high-tech billboards are watching you 

Companies are now offering camera-equipped billboards that can track viewers’ faces to gather reliable viewing data for digital displays and screens. For example, a billboard being tested in Manhattan can determine when a person is looking at the billboard and that person’s age, gender and — soon — race.

The goal is to tailor what is shown on the billboard depending on who is standing in front of it. One ad might be shown to a middle-aged African-American man, while another is shown to a white female teenager.

The cameras use software that determines when a person is standing in front of a billboard and analyzes facial features, such as the distance between the nose and the chin, to judge gender and age. The billboards can also track how many people looked at the ad and for how long, an important element for advertisers who are demanding more accountability from their agencies and media partners.

Not surprisingly, privacy groups are up in arms about the camera-equipped billboards. But the companies point out that everything they do is completely anonymous, and pictures of the people who look at the cameras are never stored in the system.  

Source: mediabuyerplanner.com, June 1, 2008

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T I P S

• What are you doing to improve customer retention? Here are a few ideas: At least once a quarter, touch base with the 20% of your customers who generate 80% of your business to find out how they’re doing. Go the extra mile by adding something extra with every order. For customers who own their own businesses, spread the word about their products or services. Regularly survey your staff to see if they understand the firm’s customer service strategies. Schedule a weekly half-hour meeting with staff to address customer care topics, such as how to deal with crabby or impatient customers. Finally, act fast when someone grouses. Research indicates that a complaint addressed with swiftness and creativity can turn a dissatisfied customer into a highly loyal one.

Source: www.kiplinger.com

• Conquer procrastination by committing to spend just 15 minutes working at the task. That small amount of time won’t be intimidating but is long enough for you to make some progress, giving you some much-needed momentum.

Source: www.briefings.com

• Questions that would merely be “small talk” in a casual setting can get you into trouble when conducting an interview. For example, never ask “Are you married?” or “Do you have children?” You also cannot ask if the candidate smokes or uses alcohol since both are legal and may be used off the premises. Surprisingly, you should also not ask candidates where they were born or if they are U.S. citizens, but you may ask if they are authorized to work in the U.S. To avoid asking the wrong questions, develop an interview form and use a copy of it for each candidate. This will help document that you asked each interviewee the same questions.

Source: www.techrepublic.com

• When developing pay-per-click advertising campaigns on search engines, a common mistake is to create a generic default ad and then associate all of your keywords with that one ad. This strategy can cost you a bundle. Users are looking for ads that match up with the keyword query that was conducted; therefore, your strategy will result in a lower click-through rate. What’s more, search engines such as Google, Yahoo and Microsoft will reward you with a lower cost per click if the keywords you are bidding on show up in your ad, but untargeted ads can make your cost per click skyrocket.

Source: www.searchengineguide.com

• If you are considering buying a business, you may be concerned about how a recession could affect the company. There are a couple of ways to protect yourself. First, consider an earnout agreement. This states that you’ll pay a lower price for the business, but will also pay a bonus if the business meets projections. Sellers don’t usually like this idea because it depends on your ability to not mess up the business. But earnouts are increasingly used in times like this where there may be some doubt about the future. You could also consider a holdback. With a holdback the seller doesn’t get all the payment up front. The funds stay in escrow until a specific condition is met — perhaps landing a big account that the seller expects. If the condition isn’t met by a certain date, then the funds are released back to the buyer.

Source: www.allbusiness.com

• Want more productivity in your office? Try adding a few plants. Based to a survey of 450 office workers, those who worked near live interior plants or a window view of greenery reported significantly higher job satisfaction and thought far better of their bosses and coworkers than those who were confined to windowless gloom. The plant-exposed employees also considered themselves happier in life overall, while all of the respondents who said they were “dissatisfied” with their quality of life were plant-deprived. The question remains whether happier people are simply more likely to fill their offices with plants, as opposed to the plants providing the happiness.

Source: www.discovermagazine.com

• Are you struggling with certain aspects of running your company? Or are you an experienced business owner looking to share your wisdom? Consider a mentoring relationship. MicroMentor.org is a nonprofit that helps founders of small enterprises find business mentors online. Entrepreneurs are matched with individuals who have successfully navigated business ownership or management in the same industry. Interested participants start by completing a detailed online form. Members always control who they are in contact with. Once connected, relationships can progress via email and telephone. MicroMentor has made nearly 700 mentor matches since it started in 2001.

Source: www.micromentor.org

• Trying to reach an important prospect? After getting someone’s assistant or voicemail for the umpteenth time, it’s time for a new approach. Invest $10-20 on a prepaid phone. Send it to your prospect in a gift box, by courier, with a note to check the messages. Beforehand, leave a powerful message that you’ve written and practiced to entice your prospect. You’ve got a captive audience for about 30 seconds. Offer something or provide an incentive to call you right away. Preprogram your number into the phone’s memory, and be available to answer the call that day. The last thing you want is for your important prospect to get a busy signal or, worse, your voicemail.

Source: www.marketingprofs.com

• Add a personal touch to your website by creating a “personal guide.” A recent study found that this tactic significantly boosts sales. The “guide” doesn’t have to do anything special, it can just be a picture next to instructions for using the site. For example, “Hi, I’m Bob, Acme’s plumbing specialist. To get started, type a description of what you’re looking for in the window below.”