Category Archives: Research
The SMB forecast is cloudy (in a good way)
Isn’t the Internet handy? It gives us the ability to access free information from virtually anywhere, even from our pocket-sized super computers, formally known as cell phones. But what’s even greater than the free information is the universal access to our personal accounts for email, banking, and social networking from just about anywhere.
The impact of cloud computing is not limited to your personal life, though. Businesses use the cloud to manage critical operations such as customer relations, long-distance meetings and payment processing. Continue reading…
5 states owing least amount in credit card payments
A new report shows Americans are cutting down their debt accumulated from credit card payments, but some states are reducing it more than others.
According to the study from Credit Karma, Americans paid down their credit cards 11 percent more in 2011 than in 2010, a statistic financial analysts typically use to diagnose the overall health of the economy. While more responsible spending is a good thing, it can also be a sign of consumers lacking confidence in the economy, which can mean slow growth for businesses.
Online analyst, 24/7 Wall St., studied the credit card payment patterns of every state to determine the five states with citizens who carry the least amount of debt on their credit cards. Continue reading…
Mobile payment security fears reveal an easy way to increase sales
Mobile payment processing has emerged as the next frontier in e-commerce, but many customers still feel apprehensive about embracing it.
Two recent studies illustrate both the degree to which mobile technology is transforming the mobile payment processing industry, and the fears surrounding consumer perceptions.
The first study from eMarketer projects mobile commerce sales will hit $6.7 billion by the end of 2011 – a 91.4 percent increase compared to 2010. It also projects mobile sales to grow by an additional 73.1 percent the following year.
The second study, conducted by the National Cyber Security Alliance (NCSA) and McAfee, found that 75 percent of respondents access the internet with their mobile devices. Half of respondents used their mobile phones to research a purchase, 27 percent have proactively shopped on a mobile device and 18 percent have actually made purchases on their smartphone. Continue reading…
STUDY: How online payment processing is evolving
Customers want more flexible and convenient options for paying bills. A new study from leading financial services provider Fiserv, Inc., shows an evolution in bill payment behavior and opportunities for businesses to accept credit cards on their website, through e-mail invoicing, and automated recurring billing.
The 2011 Billing Household Survey showed how consumers are using multiple channels (online, telephone, mail and mobile) to pay their bills, with nearly 20 percent of consumers changing their payment technique every month.
According to the findings, consumers indicated that choice is incredibly important when it comes to paying bills, mostly because of timing, convenience and available funds.The most common option people chose was paying bills online, followed by check and recurring billing.
Continue reading…
Small Businesses optimistic about hiring, but still skeptical on economy
If you’re looking for a job, small businesses are now more likely to hire.
According to the National Federation of Independent Business’ Optimism Index, small business confidence rose 1.8 points (1.2 percent) in November to its most optimistic level since February. 
The new confidence level still sits 8 points below where it was before the recession, and 14 points below where it was at during the onset of the 2001 recovery. But if you look at the line graph (which I’ll include in the post), the trend seems to be headed on an upward path away from its lowest point in early 2009, when confidence bottomed out at close to 80 points.
Continue reading…
STUDY: How small businesses are [not] using social media
Social media has emerged as a game changer in modern-day marketing, but a new study suggests the majority of small businesses aren’t buying it – literally.
A new study from SocialStrategy1 and OfficeArrow indicates that more than two-thirds of business owners will not invest in social media in 2012.
The study, outlined in an infographic at Mediabistro.com, suggests that while an overwhelming majority of small business owners understand how social media can have a direct effect on their bottom-line, less than a third of them plan to actually invest in it.
The study analyzed 343 executives from companies of less than 10 employees each.
So how are small businesses using social media? Continue reading…
How to optimize your business for the holidays
You’ve probably heard about the importance of Search Engine Optimization, but what is the best way to optimize your online presence for the holiday shopping season? Where are customers researching your business? And where are other businesses optimizing for their customers?
In preparation for the 2011 Holiday Season, MarketingSherpa recently released the 2012 Search Marketing Benchmark Report, a study that analyzed customer buying patterns during the weekend of Black Friday.
The study not only found that 67 percent of consumers did research online before making a purchase, but also that companies that strategically implemented formal processes for SEO convert 150 percent more leads than companies with no such processes in place.
So where are these customers researching you, and how should you optimize for them? Continue reading…
STUDY: Do you know your employees’ loyalty? You might be surprised
Small businesses that employ younger workers may have a satisfied workforce but they’re also more likely to consider leaving your company, according to the latest What’s Working survey from global HR firm Mercer.
The study analyzed nearly 30,000 employees in 17 countries worldwide, and found very contradicting insights into the minds of the youngest workers (ages 16 to 34).
Compared to the overall workforce, employees between the ages 16 and 34 were more satisfied with their jobs, and even more likely to recommend their organization as a good place to work. But the youngest employees (16 to 24) were 10 percentage points more likely to presently be considering leaving the company. And the next age group up (25 to 34) was 5 percentage points more likely, compared to the rest of the workforce.
Patrick Glibert, PhD Global Leader for the Drake Business Review, said the findings indicated that Millennials have a very different perspective of work and loyalty than older generations. Continue reading…
STUDY: What scares small businesses the most
Sales, government regulation and cash flow were the top three worries concerning small business owners, according to a new survey released by the Enterprise Council on Small Businesses.
The survey posed the question, “What is the single most important problem facing your business today?” and results have changed since the last time it was conducted in 2009.
“Poor Sales” was still the No. 1 concern for small businesses, but it dropped from 25 percent to 20 percent in the most recent 2011 survey. Uncertainty surrounding “Government Requirements” almost doubled from 9 percent to 16 percent for small business owners. And “Cash Flow” concerns fell from 17 percent to 13 percent. Continue reading…
Credit card defaults and delinquencies in decline
Major financial institutions have reported improvements in credit card defaults and late payment rates, indicating that customer credit card payments may be getting under control.
Three of the top six credit card-issuing banks reported declines in default rates, and four reported drops in delinquencies. The others reported small upticks in both, but the mixed reports point to a steady decline in defaults and delinquencies overall.
Citigroup reported a drop in delinquencies by 2.8 percentage points – from 6.06 percent in March 2010 to only 3.26 percent today. Discover Financial Services reported delinquencies on only 2.48 percent of balances – its lowest rate since December 2006. Industry-leader American Express Co. reported a 0.01 percentage point uptick in its delinquency rate to 1.5 percent, but that was still much lower than it reported in early 2007. Continue reading…
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