What were your best nine Instagram photos from 2017?

 You might have noticed a new end-of-year trend on Instagram the past few days. If so, you can thank 2017bestnine.com, a website that lets you automatically collect and collage your most-liked photos of 2017. Best Nine has been around for a while, so many of you may be familiar with the tool already. But for those of you who are new to that Best Nine game, here’s how it works. First of… Read More

What Apple’s Battery Mea Culpa Can Teach Your Small Business About Transparency

Apple (NASDAQ: AAPL) officially admitted it was slowing down iPhones as their batteries age. The reasoning for this move by the company makes perfect sense, but it was the execution which will cost Apple in terms of money and a black eye on its reputation and brand.

Apple Apologizes for Slowing Your iPhone

In its apology and explanation of how aging batteries affect iPhone performance, Apple was thorough and didn’t mince any words.

“We apologize” the company said. “We have never — and would never — do anything to intentionally shorten the life of any Apple product, or degrade the user experience to drive customer upgrades.”

For many small businesses still using the older iPhones, the optimization steps Apple has taken can be seen as a positive. Again, this depends entirely on how you feel about not being told it was taking place.

The steps Apple took were to dynamically manage the maximum performance of the batteries to prevent a shutdown of some system components when needed. It started with iOS 10.2.1 and it now includes iOS 11.2 for iPhone 6, iPhone 6 Plus, iPhone 6s, iPhone 6s Plus, and iPhone SE as well as iPhone 7 and iPhone 7 Plus.

Making Amends

The company said it is taking the following steps to, “Regain the trust of anyone who may have doubted Apple’s intentions.”

Firstt it is lowering the price of out-of-warranty iPhone battery replacement by $50, from $79 to $29. This goes for anyone with an iPhone 6 or later needing battery replacements. The offer will start in late January and end in December 2018 globally.

There will also be an update to the iOS software in early 2018 giving users increased visibility into the health of their battery life. This will allow them to see if the condition of the battery is affecting performance.

Details of the plan will be provided in the near future. You can follow the progress on apple.com.

What Can You Learn From Apple’s Mistake?

First of all, it is almost impossible to hide anything in today’s digital ecosystem. Transparency is the way to go. If you let your customers know what you plan on doing regarding the products and services they purchase from you, it won’t come back to bite you in the future.

You have to be proactive in the way you communicate with your customers. You have social media, websites, email and SMS to make this possible. Had Apple been upfront about what it was doing, the company wouldn’t be where it is now. Omitting a simple explanation will prevent customers from questioning the hard-earned reputation of your brand. Don’t let it happen to you.

Image: Apple

This article, "What Apple’s Battery Mea Culpa Can Teach Your Small Business About Transparency" was first published on Small Business Trends

The BlueCart Report Keeps Restaurants and Hotels on Top of Consumer Trends

BlueCart recently introduced a report spotting purchasing trends in the hospitality industry. The 2017 Hospitality Report is designed to help restaurants, hotels and suppliers gain a competitive advantage by revealing the food and drink that’s most in demand.

It’s the first time BlueCart has issued such a report, but small businesses in this market will certainly want to take note.

2017 Hospitality Food Procurement Trends Report

“Our hope is that by providing this data to the public on a regular basis through these reports, it will allow businesses to stay up to date with what is popular in the marketplace and where they may want to focus their attention based on these potential emerging trends,” Konstantin Zvereff, BlueCart CEO, says in a press release.

The company says it compiled data from the report tracking sales among its users over the last three years. BlueCart is a wholesale procurement platform for businesses and buyers in hospitality.

“The goal of this report is to provide operators and distributors a top-down look at the market landscape, motivating operators and distributors to make better decisions and successfully grow their business,” writes Will Harmon, a marketing associate for BlueCart, on the company’s blog.

In it, BlueCart finds that seafood sales over the last three years increased more than four times over. Bakery sales are up 437 percent. Non-alcoholic beverages rose 249 percent but produce sales dropped by 41 percent.

Sales numbers could be skewed because this is the first time the report has been published and more data could have been presented later in the survey’s time window. It does identify trends, however.

Harmon adds, “Possible emerging trends include farmed salmon and shrimp demand rising, decreased sales in alternative cuts of chicken, and products that allow an “on-the-go” lifestyle surging in popularity.”

BlueCart provides a network of suppliers for the businesses using its service, which is available as a mobile app. As many as 37,000 businesses participated by submitting data for the report. To view the full BlueCart report, you can download it by following this link.

Image: BlueCart

This article, "The BlueCart Report Keeps Restaurants and Hotels on Top of Consumer Trends" was first published on Small Business Trends

Small Online Stores Will Spend $2.62 for Every $1 of a Fraudulent Transaction

One fraudulent online order can cost a small retailer nearly three times as much as the cost of the transaction. That’s what Stripe found in its December 2017 Online Fraud Trends and Behavior report (PDF).

Online Fraud Trends Report

The online payment processor recently released the report and gave Small Business Trends a unique perspective via exclusive email comments.

“One of our goals in publishing the report is to help small businesses better understand how and when fraudulent behavior shows up, so they can create specific strategies that directly address their needs,” says Michael Manapat, engineering manager for payments intelligence and experience at Stripe, in an email with Small Business Trends.

Stripe’s report found that a small online retail business will spend $2.62 battling back against online fraud for every $1 of a fraudulent order. That goes up to $3.34 for a mobile retail store. Therefore, it would make sense that it’s best to put up defense before falling victim to fraudulent transactions.

But how much defense is enough?

It’s true that cyber crimes are on the rise and it’s also true that small businesses are increasingly targeted by fraudsters. And as the security of transactions at brick-and-mortar stores increases, the likelihood that online transactions will be targeted more often goes up, too.

However, it’s also true that small businesses can over-invest in online fraud protection. This report from Stripe tries to help small online retailers identify where they need to protect themselves.

“Given their limited resources, most small businesses need to make trade-offs between policing fraud and maximizing profitability. Smaller companies can use the report to identify consistent patterns of fraudulent behavior,” Manapat says.

A small online retail store may have to ultimately decide whether to install some anti-fraud software on their store. But not every small business will have the money or resources to deploy such a defense. In other cases, Manapat says, online stores need to identify trends among fraudsters to spot suspicious activity while it’s happening.

For starters, smaller stores need to be capturing more information about their customers up front. This greatly reduces the chances of a fraudulent transaction.

“While every business is different, understanding how fraud shows up will not only help smaller retailers more effectively combat fraud, but also help them understand why setting better rules is so important,” Manapat adds.

Other key signs of transaction fraud online are purchases coming in at abnormally high rates. Fraud actors will sometimes purchase at 10 times the normal pace usually seen on a site. They also like to hit during evening hours, according to Stripe. And you can expect this activity during lower traffic times on a site.

“For example, fraud rates do not rise notably on heavy shopping days like Black Friday, but rather on days like Christmas when many people aren’t shopping,” the report explains.

Another key finding from the report shows that most fraudulent transactions aren’t for big-ticket items. Instead, it’s smaller transactions that tend to be fraudulent.

“In the United States, Stripe data shows that fraudulent transaction amounts are only slightly larger than regular transaction amounts,” the report states.

Stripe suggests that small online retailers work with a payment processor that deploys machine learning technology to help spot bogus transactions. But the company also notes that relying just on AI to spot fraud is not enough. Manual vigilance is also necessary.

“Machine learning models address this challenge by incorporating many context-specific nuances in order to reject only the most suspicious transactions, rather than putting in place blanket rules that can easily wind up blocking good transactions. Merchants should work with payment processors with machine learning and other technologies to optimize these complex trade-offs between stopping fraud and maximizing profitability,” the report adds.

Photo via Shutterstock

This article, "Small Online Stores Will Spend $2.62 for Every $1 of a Fraudulent Transaction" was first published on Small Business Trends

The food revolution may have just needed a cup of Blue Bottle

 Each massive exit in the tech ecosystem usually follows the same cycle: an upstart becomes a huge business, it goes public or sells for a huge sum of money, many of the best people that built it take off and then they use their newfound wealth to start companies. But in addition to tech, the venture community has its own pet project: coffee. Read More

This Webinar Can Help You Make Your Business More Profitable in 2018

No matter what your specific business goals for 2018 are, your more general goal is probably to increase profitability.

A lot goes into making your business more profitable. And there are some trends for 2018 that can help you get there. If you’re looking to learn more about these trends and increase profits for your business in the new year, an upcoming webinar may be able to help.

The webinar, 5 Trends That Will Drive Your Profitability and Growth in 2018, is scheduled for January 24 so you can learn this valuable information just as the year is getting underway. Learn more about the event and how to sign up in the Featured Events section.

There are also plenty of other upcoming events that could help your business grow in 2018. Check out a full list of opportunities below.

To see a full list or to submit your own event, contest or award listing, visit the Small Business Events Calendar.

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Featured Events, Contests and Awards

Make it Rain Money: How to Close Deals Faster and Speed Up Collections
January 17, 2018, Online

Would you like to bring revenue in the door faster? Do you want every edge possible to get paid fast? In this webinar, learn how other small businesses are eliminating their pain points in the contract and invoicing process, through use of electronic signature and invoicing apps. You’ll hear the results of exclusive DocuSign research about where other small businesses encounter the biggest challenges, and how to solve them. Today’s tools minimize manual steps and mistakes. Digital automation streamlines activities, tracks status and follows up for you — freeing up staff for other activities. Register today!

And most importantly, these tools get you paid faster, improving your cash flow.

At the end of this webinar, you’ll walk away with concrete tips for how to get contracts signed and invoices paid — much faster. Plus, you get access to DocuSign research and two concise whitepapers with insights and actionable ideas for how to improve YOUR company’s systems. So you get paid faster.

Sponsored by DocuSign.

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WEBINAR: 5 Trends that Will Drive Your Profitability and Growth in 2018
January 24, 2018, Online

Customer habits and perceptions are rapidly evolving as new technologies such as artificial intelligence and the Internet of Things go mainstream. New opportunities are opening up – but at the same time businesses of all sizes are under intense pressure to meet changing customer expectations. In this webinar on Wednesday, January 24, 2018 at 2:00 pm ET, you will learn five key trends that will drive profitability and growth in 2018, if businesses quickly leverage them and adapt to them, including: The Automation Revolution, Rise of Amazon, Expectations, The Instant Customer Service Trend, The DIY Dichotomy, Always-On Operations. Get ahead of the curve and lead in your marketplace, by understanding how to use these trends for growth and profit. Register today!

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LEAP HR: Retail Conference, Nashville 2018
February 27, 2018, Nashville, Tenn.

LEAP HR: Retail 2018 will once again dig deeper into the innovative people leaps helping digital-native and established retailers succeed in a rapidly transforming industry. With new speakers, fresh case studies, and a pre-conference ‘Boot Camp’ day dedicated to what the next-generation retail workforce really looks like, LEAP HR Retail 2018 remains the unique opportunity for senior people leaders in this industry to really challenge and get creative around how we do HR in retail.

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More Events

• Social Media Marketing (SMM) Mastery Basic & Advanced Strategies
  January 09, 2018, Doral, Fla.
• Emergency Preparedness – What To Do In Case of Fire, Flood, Tornado, Bomb Threat, Power Outage, etc
  January 10, 2018, Online
• QUICKBOOKS for Business Course | Jan. 10, 2018
  January 10, 2018, Doral, Fla.
• Smarter Productivity Matters
  January 10, 2018, Online
• WordPress Website Training | Jan. 13
  January 13, 2018, Doral, Fla.
• Indie Cruise Retreat for Makers (Ixtapa, Mexico)
  January 13, 2018, Nashville, Tenn.
• Hit The Ground Running in 2018…Business Networking for Professional Success
  January 16, 2018, New York, N.Y.
• Search Engine Optimization SEO Seminar | Jan. 16
  January 16, 2018, Doral, Fla.
• Data Driven Marketing Workshop
  January 16, 2018, Hayward, Calif.
• Thriving in a World of Rapid Change
  January 16, 2018, Online
• Self-Audit for Business Process Improvement
  January 17, 2018, Online
• GOAL SETTING: Set SMART Actionable Goals in 2018
  January 18, 2018, Elmsford, N.Y.
• IoT-Enabled Asset Monitoring Solution that can transform your business
  January 18, 2018, Online
• ICUBE Pitch 2018
  January 18, 2018, Mississauga, ON
• Cannabis Collaborative Conference 4.0
  January 24, 2018, Portland, Ore.
• Employee Onboarding in a Digital World
  January 24, 2018, Online
• Small Business Expo 2018 – DALLAS
  January 24, 2018, Dallas, Texas
• Writing Effective Email
  January 26, 2018, Online
• Los Angeles MBA Fair – Meet Top US and International Business Schools
  January 27, 2018, Los Angeles, Calif.
• Advancing Prefabrication Conference Dallas 2018
  January 29, 2018, Lewisville, Texas

More Contests

• Public Vote to Crown America’s Most Unique Small Business Underway
  November 08, 2018, Online

This weekly listing of small business events, contests and awards is provided as a community service by Small Business Trends and SmallBizTechnology.

Image: Shutterstock

This article, "This Webinar Can Help You Make Your Business More Profitable in 2018" was first published on Small Business Trends

10 Ways to Branch Out with Your Marketing Strategy in the New Year

Every marketer has his or her own favorite methods and tools. But branching out can sometimes be beneficial. That’s why it’s a good idea to learn what strategies are working well for other entrepreneurs. Here are some insights from members of the online small business community to help you create a marketing plan for your own business in 2018.

Repurpose Blog Content into Short Form Social Media Updates

When you write a blog post, that doesn’t have to be the only time you use that particular content. In fact, there are plenty of different ways you can repurpose that content into shorter snippets that you share on your social media pages, as Brian Appleton explains in this Social Media Examiner post.

Use This 2018 Content Marketing Toolkit

If you want to up your content marketing game in 2018, you need the best resources at your disposal. This Content Marketing Institute post by Jodi Harris includes an entire toolkit of content marketing tips, templates and checklists you can use in 2018.

Consider These Simple Content Writing Tools

Content marketing is a proven method for getting the word out about your business. And there are plenty of tools out there to make the writing process easier, like the ones in this Buzz and Tips post by Steve Williams. You can also see what the BizSugar community is saying about the post.

Take These Marketing Lessons into 2018

If you want your marketing efforts to really resonate in the new year, then you need to learn some lessons from what you did in 2017. In a recent post on Juvlon, Apeksha Kshirsagar offers some marketing lessons for small businesses that you can take into 2018.

Power Up Your Sales with These Salesforce Apps

Salesforce has long been one of the most powerful tools for managing sales. And there are also plenty of apps you can use with the platform to improve your processes even more. Here, Benjamin Brandall of Process Street lists some of the top apps you can use to power up your sales.

Add More Than One Admin to Your Facebook Page

You might think that you can run a successful Facebook page on your own. But there are actually significant advantages to having more than one admin. Lisa Sicard of Inspire to Thrive shares why in a recent post. And BizSugar members discuss the post further too.

Follow These Digital Marketing Strategies for Solopreneurs

If you run a business completely on your own, then the marketing strategies that work for larger businesses aren’t likely to apply. Instead, take a look at some of the marketing strategies specifically for solopreneurs in a recent DIY Marketers post by Rhonda Burgess.

Consider Hiring a Marketer for Your Freelance Biz

Even freelancers could use some help marketing their services from time to time. There are many different ways a marketing expert can help freelance businesses. Ivan Widjaya of Biz Epic elaborates in a recent post.

Use Video to Increase Conversions on Your Landing Page

The landing page of your website should serve a specific purpose — converting visitors into customers. And video can play a major role in that, according to a recent Pagewiz post by Elna Cain. BizSugar members also share some thoughts on the post.

Check Out These Logo Design Trends for 2018

If one of your goals for the new year is to update your branding, then a new logo might be in order. If that’s the case, you need to look at some of the current design trends that might impact your process. Here are some things to consider from Katie Lundin of Crowdspring.

If you’d like to suggest your favorite small business content to be considered for an upcoming community roundup, please send your news tips to: sbtips@gmail.com.

Image: Shuttestock

This article, "10 Ways to Branch Out with Your Marketing Strategy in the New Year" was first published on Small Business Trends

10 Creative Ways You Can Improve Your Next Clearance Sale

The year 2017 is almost over. Are you still carrying unsold merchandise in your store?

As the post-holiday frenzy dies down, January is a slow month for most retail stores. On top of the holiday bill hangover consumers are experiencing, bad weather or resolutions to stop spending money will often keep shoppers away.

But if those unsold products are gathering dust on your shelves or taking up space in your stockroom, they’re not bringing in profits for your business. It’s time for a clearance sale!

The word “clearance” is overused these days when many retail chains seem to offer weekly clearance deals. However, when clearance is done sparingly, it can be a highly effective marketing strategy. Clearance can attract not only your regular customers, but bargain-hunters who might not otherwise stop into your store. For instance, many people who don’t normally shop at Nordstrom Rack hit the discount store regularly for its seasonal clearance sales.

Clearance Sale Tips

Here’s how to make your clearance sale a success.

1. Time it right. Quarterly seasonal clearance makes sense for most retail businesses. You want to sell products at the tail end of the season, while they’re more attractive to customers. (For example, it’s easier to move parkas in January than April.) If your products aren’t particularly seasonal, a clearance every six months may work. Just don’t let too much unsold stock build up.

2. Choose your wares. Using your point-of-sale/inventory management system, identify the products that are least profitable and slowest moving so you can pull them for clearance.

3. Create your clearance display. Don’t hide your clearance in the back of the store. You can often tempt shoppers to come into your store by putting clearance items relatively close to the door. Limit the total space you devote to clearance. It’s OK if the products are a little crowded. You don’t want so much clearance that your retailer looks like a thrift store or as if you’re going out of business. Try putting some small clearance items near the checkout line. You’d be surprised how many people can’t resist this.

4. Price it right. Using actual prices rather than percentage-off signs typically attracts more bargain hunters. No math is required to see that “$10 each” is a good deal. Try sectioning products by price — a $10 display, a $20 display, a $5 and under display, etc.

5. Kick it off with a bang. Ever been to a “clearance” sale that offers 15 percent off? (Eye roll.) That’s not nearly enough to tempt true bargain hunters. Start with 50 percent off — possibly even deeper discounts depending on your industry, your competition and what types of discounts you’ve offered throughout the year.

6. Market online and off. Market your clearance through email, online advertising, social media, on your website and/or direct mail. Greet customers at your entrance and let them know about your clearance specials. Point out the sale racks or shelves and maybe even suggest an item. Giving shoppers a bag or basket to shop with can entice them to buy more, too.

7. Sweeten the deal. If your product doesn’t sell on 50 percent clearance, don’t hang on to it. Your primary goal is to move the items out of inventory, so increase the discount every day of the clearance — 50 percent the first day, 60 percent the second day, etc. — to motivate buyers.

8. Let it go. What if at the end of your clearance, you’ve still got stuff left? Don’t try to sell it next season. One shoe store I shop at has an annual clearance sale where at least half the inventory is shoes that didn’t sell at the last sale! Know when to cut your losses.

9. Act quickly. If a product doesn’t sell, have a plan for disposing of it at the end of the sale. You can try liquidators, remarketers or donating the items to charity for a tax write-off.

10. Connect with new customers. Make a special effort to get new customers on your mailing list. Ask them to sign up for your email newsletters or loyalty reward program. For those who are bargain oriented, asking, “Would you like to know about our next clearance sale in advance so you can get a better selection?” is generally all it takes to get them to sign up.

Happy selling!

Photo via Shutterstock

This article, "10 Creative Ways You Can Improve Your Next Clearance Sale" was first published on Small Business Trends

Mastercard Says Retail Sales Grew 4.9% During Record Holiday Season

The largest year-over-year holiday sales increase since 2011 was just recorded by the Mastercard SpendingPulse report. The 4.9 percent increase comes at a time when terms such as “Retail Apocalypse” are in the headlines forecasting the demise of retailers.

2017 Retail Holiday Sales Results

According to Mastercard, customer confidence is one of the biggest drivers. This also accounted for an 18.1 percent increase in online shopping compared to 2016. The recent overhaul and passing of the tax bill may have also played a role in the late season rally.

The number of customers shopping in retail stores has been declining, but a large percentage of customers still prefer brick and mortar outlets.

Sarah Quinlan, senior vice president of Market Insights for Mastercard, addressed the increase in sales on the company’s press release. She said, “Evolving consumer preferences continue to play out in the aisles and online sites of retailers across the U.S. Overall, this year was a big win for retail. The strong U.S. economy was a contributing factor, but we also have to recognize that retailers who tried new strategies to engage holiday shoppers were the beneficiaries of this sales increase.”

The Mastercard SpendingPulse report looks at all retail sales except the automotive segment in the U.S. across all payment types. The holiday shopping period, according to Mastercard, is from November 1 through December 24.

Key Findings

While the number was good overall, some segments fared better than others when the data was analyzed. At 7.5 percent, electronics and appliances had the strongest growth of the past 10 years. As for the home furniture, furnishings, and home improvement category, the growth was 5.1 percent.

The report also said the success retailers experienced could be attributed to heavy early-season promotions as well as last-minute shopping. The early promotions resulted in significant increases in sales for the first three weeks of November.

Last-minute shopping, especially in jewelry which rose by 5.9 percent, resulted in record spending sprees.

Retail Stores not Ready to Die

The demise of the retail store has been in the headlines, but it doesn’t look like 2018 is the year it is going to happen. Granted retailers have been closing in record numbers, but consumers have shown they still enjoy the experience of going out to shop.

For small businesses operating in this highly competitive environment, it’s necessary to make the in-store experience even more special. This includes delivering better customer service and seamless integration with digital solutions.

Photo via Shutterstock

This article, "Mastercard Says Retail Sales Grew 4.9% During Record Holiday Season" was first published on Small Business Trends

Financial technology startups emerged as serious challengers to financial services in 2017

 While cryptocurrencies stole the spotlight in 2017, a clutch of companies were quietly working behind the scenes to slowly bring the financial services establishment to its knees. It may turn out that these startup entrants of the last several years will prove to be the more relevant disruptors. Read More