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Morning Briefing - June 5, 2009

A new study suggests Utah may take longer to recover from the recession than surrounding states.

The number of Utah jobless claims has fallen since January, which some think shows the recession may be bottoming out.

Wal Mart is plotting strategy to keep bargain seeking shoppers after the economy recovers. Also, the retail giant says they will create 22,000 jobs this year.

The first reviews of the Palm Pre phone are showing up. Most of them are mixed. This one predicts the phone will bomb. Here are three reasons the phone might be a success.

Goldman Sachs predicts oil will hit $85 by the end of the year.

There are some indications that banks are getting ready to flood the market with foreclosed houses.

California's zero emission legislation, which takes effect in 2012, could end up costing Toyota $1 billion.

A number of states are set to pass $24 billion total in tax hikes to plug holes in their budgets.

Think Twitter is poised to take over the internet? Here are a bunch of numbers why the popular microblogging service might not have that kind of longevity.

Mortgage rates have inched above 5% for the first time in a number of months.

Has the credit crisis finally ended?

ESPN is betting sports fans will pay for access to some online content. Hulu is also mulling charging for some of their content.

Nearly one million people watched a video cast by the Jonas Brothers on Facebook. If that sounds like a lot, it is.

Have a great weekend.


tags: blog, business, morning briefing, news
Business Tip - Three Tips for Successful Green Marketing

Consumers want to do the right thing when it comes to protecting the environment and their health. Even in this economic climate, the green movement is gathering momentum, and it's hard to miss the deluge of ads introducing new green products from well-known national brands.

Prove Your Claims

Americans want proof that products and services touted as green will live up to their promise. The BBMG report is among the latest to show that many consumers remain skeptical and feel they have no way of knowing if a product is green or actually does what the advertiser claims. Today's shoppers are willing to dig deeper to get the real facts by examining consumer reports, reviews, testimonials and recommendations, as well as certification seals, labels and ingredient lists.

Get Your Pricing Right

While many green shoppers are willing to pay extra to do the right thing, the majority say price is very important in their purchase decisions. Consumers want quality products that are good for them and for the environment at a price they can afford. Teens ages 13 to 17 are the most price-conscious green shoppers, according to a survey from Generate Insight, an entertainment branding company. According to the survey, about seven in 10 teens would choose a less expensive product over one that "gave back" to the environment.

Offer Personal Benefits

Saving the planet is a big promise and a meaningful one to many consumers. But it will have more teeth if you relate that claim to a personal benefit, such as improving one's health or saving money. For example, food that's organically grown means that fewer pesticides and herbicides that will damage the environment are used--an invaluable benefit. Yet the essential bottom line for many organic food shoppers is the assurance that fewer harmful chemicals will find their way into the bodies of their children and families.

Just look at the way low-VOC and now VOC-free paint is being marketed. Yes, it helps to reduce pollutants in indoor and outdoor air, but the additional personal benefit that motivates consumers to take action on these new product lines is that they may be healthier and safer to use. What direct benefits will your green products and services offer customers? When you deliver on a promise to benefit the planet and the people who buy from you, you’ll have a winning sales combination.

Source:  Kim T. Gordon, Entrepreneur.com 


tags: blog, business, business tip, green, marketing
Today in History - June 5

1723: Economist Adam Smith was born in Kirkcaldy, Scotland.

1883: Economist John Maynard Keynes was born in Cambridge, England.

1933: The United States went off the gold standard.

1947: Secretary of State George C. Marshall, speaking at Harvard University, outlined an aid program for Europe that came to be known as the Marshall Plan.

Source:  New York Times 


tags: blog, business, history
Business Tip - What's the Pulse of Your Market

If you're like most entrepreneurs, you're probably looking at your business and asking yourself, "What translates into success in this economic environment?"

Surveys 101: Ask Questions, Get Answers, Take Action

Now is an important time to stay connected with your customers and clients. Your e-mail newsletter is one way that you can speak to your audience. Surveys and polls complement your e-mail marketing efforts by opening the door to two-way communications and showing customers you care about what they think. You're already staying in contact with your customers via e-mail. Wouldn't you like regular feedback from them as well? Surveys are a smart addition to your e-mail marketing mix.

When you're thinking about what survey questions to ask your customers, ask yourself What you would do differently based on the answers you get back. You're looking for actionable data that you can use to make informed decisions for your business. If the answer to the question is "nothing," then don't ask the question in your survey.

Here are some hints for putting together a brief survey in tandem with your e-mail communications.

Ask your customers to rate your performance on a scale of one to five. How satisfied are they with:

 

  • Your products or services?
  • The shopping and sales experience?
  • Your customer service experience?
  • The price points?

 

Keep your surveys short and respectful of your customers' time. They're more likely to complete a short survey of three to five questions.

Source:  Gail Goodman, Entrepreneur.com 


tags: blog, business tip
Today in History - June 4

1896: Henry Ford made a successful pre-dawn test run of his horseless carriage, called a quadricycle, through the streets of Detroit.

1947: The House of Representatives overwhelmingly approved the Taft-Hartley Act, which allows the president to intervene in labor disputes.

2003: Martha Stewart stepped down as head of her media empire, hours after federal prosecutors in New York charged her with obstruction of justice, conspiracy, securities fraud and lying to investigators.

Source:  New York Times 


tags: blog, business, history
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