WJR Business Beat

Customers Demand To Feel Value These Days

December 16, 2022 07:00 - 1 minute - 1.82 MB

An Intercom study shows that, 64% of consumers polled would leave a business with just one bad interaction where they are made to feel not valued.

Venture Capital Deals Down in 2022

December 15, 2022 07:00 - 2 minutes - 1.89 MB

Who's getting the funding and who's not these days? Data from PitchBook shows that nearly every vertical is down across the board in 2022 relative to the deals that got done in 2021.

Online Shopping is Boiling Hot

December 14, 2022 07:00 - 2 minutes - 1.93 MB

It's no secret that shopping online is where the action is this holiday season, but did you know that now 90% of Americans buy online at least once a month?

New Grants Available to Small Businesses, Gov. Whitmer

December 13, 2022 07:00 - 2 minutes - 1.94 MB

MEDC's Match on Main program provides funding to communities that in turn can award grants of up to $25,000 to each eligible business seeking support, and these grants may be used by these businesses, awarded them for eligible expenses that support, for example, technical assistance.

Does Your Brand Stand for Something?

December 12, 2022 07:00 - 2 minutes - 2.2 MB

The 2022 Purpose Power Index highlights the top hundred most purpose-driven companies in the US today. 85 million US consumers are motivated by company purpose to buy goods and services.

Fed Releases New Business Sentiment Study

December 06, 2022 07:00 - 1 minute - 1.57 MB

The Fed released what's known as its beige book. A report that summarizes in qualitative fashion, the sentiments of businesses across the US and indicates that sentiment amongst business owners today is a mixed bag at best.

Fraudulent Activity Online is Growing

December 05, 2022 07:00 - 1 minute - 1.76 MB

Data released by TransUnion suggests that shopping during the cyber five, the five day period from Thanksgiving through Cyber Monday, unfortunately, is an active time for fraudsters to take advantage of the millions of transactions being conducted during this time period.

TechStars Detroit Accelerator Program

December 02, 2022 07:00 - 1 minute - 1.68 MB

Techstar Detroit, and it's run by managing director Monica Wheat with financial support through its partner JP Morgan. Recruiting for the next class, launches in April, but applications close on January 3rd.

Demands To Work In Office Are Increasing

December 01, 2022 07:00 - 2 minutes - 1.88 MB

ASE in Troy, MI say Michigan employers now are mandating a minimum number of days for in-person work, or even requiring that employees be back in the workspace full-time. In this post pandemic era, for most companies, it has become clearer that they perform better when their teams are in office.

Cyber Monday Sales Up Over Last Year

November 30, 2022 07:00 - 2 minutes - 1.93 MB

Deep discounts, more inventory availability, and retailers anticipating needing to have something more to lure shoppers played a big role in driving increase sales this year on Cyber Monday.

Space Tech Company Taking Off In Michigan

November 29, 2022 07:00 - 2 minutes - 2.12 MB

Satellites require precision manufacturing, attention to quality, and now mass production. Orbion Space Tech has cornered the market on how to build precision machinery, there's nothing in a satellite that's more complicated than what's in a modern F-150.

It's Cyber Monday

November 28, 2022 07:00 - 1 minute - 1.72 MB

Experts forecast that this year's Cyber Monday sales will hit 11.84 billion. That's up from 250 million just 20 years ago.

Ad Spending Down, Cuts Are Slowing

November 23, 2022 07:00 - 1 minute - 1.73 MB

In a sign of the toll that the macroeconomic disruption is taking on the advertising economy data from, Macroeconomic Effects and Perception Study shows that more than a third of advertisers say that they have reduced their 2022 advertising budgets by about 20%.

Movie Theatre Revenues Trending Up

November 22, 2022 07:00 - 2 minutes - 1.97 MB

Holiday season here. Movie going typically picks up this time of year, families and kids out of school enjoying movies at local theaters, and this season is shaping up to be a relatively good one.

Rural America Feels Inflation Most

November 21, 2022 07:00 - 1 minute - 1.79 MB

Payments, an online site, has researched that inflation is particularly challenging for those living in rural areas who are feeling the burden of historic cost of living increases far more than those living in urban settings.

Invest Midwest Announces Annual Pitch Competition

November 18, 2022 07:00 - 1 minute - 1.54 MB

The Annual Investment Midwest Pitch Contest is now open for applications Investment. Midwest is a premier venture capital forum located in the Midwest, focused on emerging technology based businesses. For more than 20 years, its conferences have provided access to capital for privately held startup companies that are poised for growth as part of their mission and to promote and foster entrepreneurship business activity.

1 in 10 Americans Working Their Dream Job Currently

November 17, 2022 07:00 - 1 minute - 1.69 MB

Who's living the dream right now? Lots of people making due these days, rather than focusing on pursuing what they believe might be a more ideal alternative, they're focusing on making the most out of their current employment and staying put at least for now.

Trends in Branding Today

November 16, 2022 07:00 - 1 minute - 1.64 MB

Here are examples of trendy approaches to branding that lead to a brand that is distinctive and for which you can secure a dot com domain.

Business Email Marketing Reigns Supreme

November 15, 2022 07:00 - 2 minutes - 2.06 MB

Jeff Sloan explains important data released to help guide you on how to focus your marketing spend most effectively during challenging times.

Gen Z Holiday Shopping Preferences

November 14, 2022 07:00 - 1 minute - 1.73 MB

Shopping expectations for this upcoming holiday season reveal that as much as 80% of Gen Zers plan to use Instagram and Tik Tok to buy gifts.

Veterans Succeeding in Small Business

November 11, 2022 07:00 - 2 minutes - 1.92 MB

A veteran either in business or wanting to start one of your own, we recommend you take advantage of the many programs like those offered by the SBA. Thank you for your service.

Employers Ghosting Employee Prospects

November 10, 2022 07:00 - 1 minute - 1.76 MB

Glassdoor data shows that the number of interview reviews by applicants on the site that mention the term ghosting, has nearly doubled.

US Consumer Spending Still Strong

November 09, 2022 07:00 - 1 minute - 1.61 MB

US Bureau of Economic Analysis released its estimate of third quarter GDP at the end of last month, consumers spending once again proved to be surprisingly resilient in the face of surging inflation.

Traditional Media Tops for Business Leaders

November 08, 2022 07:00 - 1 minute - 1.81 MB

C-suite executives at large corporations, according to 2022, State of Digital and Content Marketing, find that traditional media is the most preferred go-to source: newspapers, magazines, TV and radio, followed by conferences, webinars, and third party research.

Women Business Leaders Switching Companies at Highest Rate Ever

November 07, 2022 07:00 - 1 minute - 1.83 MB

The gap between women and men leaders leaving their jobs is the largest it's ever been. At the heart of these employment transitions is women wanting to seek positions with companies that share what they consider to be important values.

More Layoffs, Higher Prices, Less Profits Likely Ahead

November 04, 2022 07:00 - 1 minute - 1.76 MB

The survey, Enterprise Financial Decision Makers Outlook, shows 85% of financial leaders are forecasting in preparation for an impending recession. CFOs & finance leaders are not expecting an economic break until later part of 2023.

Teens Expressing Interest in Entrepreneurship

November 03, 2022 07:00 - 2 minutes - 1.97 MB

Survey from Junior Achievement finds that 75% of US teens would consider becoming entrepreneurs. The survey was conducted in correlation with National Entrepreneurship Month, which is November.

Omni Channel Customer Service A Must

November 01, 2022 07:00 - 2 minutes - 1.93 MB

Today the methods and channels we use to conduct various activities relating to providing good quality customer service are fast changing, and businesses simply must keep up with the trends in order to stay in.

Halloween Spending at Record Levels

October 31, 2022 07:00 - 2 minutes - 1.96 MB

Halloween is expected to be at record levels according to National Retail Federation. Overall interest and participation in the holiday is up generally with 69% of consumers planning to celebrate the holiday. That level of participation is up from 65% in 2021 and correspondingly total Halloween spending is projected to reach a record 10.6 billion this year, topping last year's record of 10.1 billion. Increased spending is particularly enlightening in that people are making Halloween a priorit...

Angel Funding Decreases To Female Led Startups

October 25, 2022 07:00 - 1 minute - 1.63 MB

Angel Resources Institute: Women entrepreneurs represented 16% of the business owners who received angel funding, 2021. Down from 17% the year before. Concerning because total Angel money invested was up in 2021 by about 30% over 20, 20 and 50% more than in 2019.

What Makes For A Good Boss?

October 24, 2022 07:00 - 2 minutes - 2.02 MB

You can't be successful in business these days unless you can hire and retain top talent. And in order to achieve that at a fundamental level, you need to be sure you're at your best as the boss.

Most Popular Businesses to Start in Each State

October 21, 2022 07:00 - 4 minutes - 4.07 MB

The top five most searched businesses people wanna start a clothing business is #1. #2 a brick and mortar retail store, #3 home & yard renovation, #4 online retail, and #5 food and fitness.

Changes Coming to Google Analytics

October 20, 2022 07:00 - 2 minutes - 2.08 MB

Starting July, 2023, Google Analytics will go offline and cease being available as we've known it. What are small businesses to do?

MI Retailer Not Yet Offering Aggressive Holiday Shopping Discounts

October 19, 2022 07:00 - 2 minutes - 2.01 MB

Michigan retailers are faced with a tough choice this year whether or not to forego margins and focus instead on volume of sales leading hopefully to overall business profitability.

Coupons Used Broadly Today But Fraud is a Problem

October 18, 2022 07:00 - 2 minutes - 2.04 MB

Jeff Dupee, CEO and co-founder at clean.io, a digital engagement company focused on preventing fraud. Says clean.io this week will launch coupon detective free software tool that shows e-commerce merchants just how much money they're losing from third party sources and allows them to take action to prevent it.

Labor Hoarding Instead of Layoffs

October 17, 2022 07:00 - 2 minutes - 1.99 MB

Unemployment rates are near record lows almost every month. And the reason for that some people think is labor hoarding, which is companies are hanging onto their employees during this tough economic stretch because they believe it will be more profitable for the company in the long run.

Optimizing Product Pricing Today is Critical

October 14, 2022 07:00 - 2 minutes - 1.91 MB

There are many rules of thumb that guide product pricing, however, it is a real art today given the pressures from inflation that are in play.

Small Business Spending More to Protect Against Cyber Attacks

October 13, 2022 07:00 - 2 minutes - 2.11 MB

69% of small businesses say they have suffered some kind of breach already, which has bypassed their email security solution according to the 2022 SMB Cyber Security Landscape Report. Taking action to spend more to protect businesses is just another cost factor that is making being a business owner today tough.

Skimpflation Hitting Businesses Hard

October 12, 2022 07:00 - 2 minutes - 2.2 MB

Skimpflation, refers to consumers now proactively skimping on services, subscriptions, and purchases they otherwise would've made without issue. Retailers and businesses in general are going to bear the brunt of these cuts.

Announcing Michigan Tech Week Events

October 11, 2022 07:00 - 1 minute - 1.7 MB

Ted Valley, co-founder of Midwest House and a Michigan Tech Week Coalition said, "Building a successful tech company can be a great thing for a few people. Building a vibrant tech community can be a game changer for a whole region. Tech Week will be a foundational piece for a growing community that will be open to our entire state."

Deals Discounts and Cash Back Rewards Critical to Consumer Purchases

October 10, 2022 07:00 - 2 minutes - 2.25 MB

85% of Gen Z consumers, 86% of millennials, 79% of Gen X and Baby Boomers all are more likely to complete a purchase these days when they have an incentive to do so.

New Detroit Venture Known as Hush Gaining Momentum

October 07, 2022 07:00 - 2 minutes - 2.24 MB

The internet, when used in the positive ways as it was intended is an amazing resource. In the wrong hands, it opens the door to nefarious deeds such as breaching your private information and or even ruining your reputation by posting false information about. A new company based in Detroit is addressing the problem and making great headway toward major success.

T Mobile Hometown Grant Program

October 06, 2022 07:00 - 2 minutes - 1.96 MB

Announcing a grant program that is intended to support improvements to small towns in America. T-Mobile has partnered with Smart Growth America and Main Street America, looking for elected leaders, town managers, employees, or nonprofit leaders to submit the details for their project request on behalf of the small towns to be eligible.

Business Survival Depends on Selling to Existing Customers

October 05, 2022 07:00 - 2 minutes - 2.11 MB

Focus on retaining, engaging, and selling more to your existing customers is just fundamentally critical. 80% of your future profits will come from just 20% of your customers.

Customer Loyalty Becoming Harder to Achieve

October 04, 2022 07:00 - 1 minute - 1.8 MB

The looming recession has become the perfect test market for brand loyalty. Bottom line, focus on engaging and retaining your existing customers. Focus on delivering a supreme level of customer service and experience.

Coupon Use Increasing Due to Inflation

October 03, 2022 07:00 - 2 minutes - 2.06 MB

Finding good deals, bargain hunting, even coupon clipping is back in vogue. Consumers are now using digital price comparison in coupon tracking tools to drive their purchase decisions.

Gen Z Accelerating Consumer Buying Power

September 30, 2022 07:00 - 2 minutes - 1.93 MB

Gen Z's spending power is on the rise. A Bloomberg report from last year, commands 360 billion in disposable income. They get their purchase influences through social media, and tend to have to feel a strong affiliation with the brand in order to buy from that brand.

Episodes