N.Y. businesses benefit from filming of "Spider-Man" movie | Should you skip Facebook? | Work with your customers to create a winning product
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March 20, 2013
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Stories from the Street
N.Y. businesses benefit from filming of "Spider-Man" movie
The filming of "The Amazing Spider-Man 2" is providing an uptick in demand for some small businesses in New York state. For example, Bagel Boss, which is based on Long Island, expects to sell about $16,000 worth of catered food during the production. New York offers tax credits and other incentives designed to persuade companies to make films in the state. CNNMoney (3/13)
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Caring for Customers
Should you skip Facebook?
Facebook has a massive user base, but small-business owners should think twice before dedicating their time to marketing on the site, Shawn Hessinger writes. Research shows some users have left the site, and the social network's growth prospects might be limited, he writes. In addition, your marketing messages might be drowned out by all of the other activity on Facebook. Small Business Trends (3/19)
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Other News
Keeping Shop
Why you should treasure customer complaints
Receiving negative feedback isn't a pleasant experience, but if a customer takes the time to send a complaint, it could mean they value your company, writes Margaret Heffernan. Take the feedback as an opportunity to improve. "You're learning from the frontline what is really going on and how it plays to your market," she writes. Inc. online (free registration)/Serial CEO blog (3/18)
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Managing the Money
Selling your business in a crowded market
The market for business sales is likely to be crowded this year as baby boomers prepare for retirement, writes Dan Bowser, president of Value Insights. However, you can improve the odds that your business will find a buyer by keeping accurate financial records. "Motivated buyers with lots of cash have many options, and you must be prepared to compete for them," he writes. Durango Herald (Colo.) (3/19)
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What to do when competitors cut their prices
When other companies slash their prices, it's important to emphasize the quality of your product to stay competitive, writes Lucy Clark. "Don't go on a slam campaign -- simply use fact-based statements to show why you are the more desirable brand," she advises. Also, focus on providing superior service, and look for opportunities to lower your overhead, she recommends. B2C Marketing Insider (3/15)
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Tips & Tools
A guide to writing effective e-mails
Your e-mails will be more effective if you start by explaining what you want the recipients to do instead of including lengthy introductions, Geoffrey James writes. Provide brief supporting arguments and evidence for your viewpoints, and write subject lines that will grab your readers' attention. Inc. online (free registration)/Sales Source blog (3/15)
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News You Can Use
What the new patent system means for small business
The U.S. has abandoned its old "first to invent" patent system and adopted a "first to file" rule in its place. The change could make it easier to determine who should receive intellectual property rights, but some people worry that the new system will hurt small businesses, which don't have as much money to dedicate to patent applications. Small-business owners can respond to the change by keeping their inventions under wraps and filing patent applications earlier in the development process. Small Business Trends (3/18)
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SmartQuote
The best way to guarantee that your new offerings succeed is to develop them with your customers instead of simply for your customers."
-- John Jantsch, speaker, marketing consultant and author, writing at Duct Tape Marketing
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