5-10-22 - Segment Customers and Build Community to Battle Falling Consumer Confidence

Small Biz Flash

Small businesses actually lost jobs last month, even though the overall job market remains strong. The culprit? Employees are going to larger companies that can pay higher salaries.

https://adpemploymentreport.com/2022/April/NER/docs/ADP-NATIONAL-EMPLOYMENT-REPORT-April2022-Final-Press-Release.pdf

https://adpemploymentreport.com/2022/April/SBR/SBR-April-2022.aspx

https://www.goldmansachs.com/citizenship/10000-small-businesses/US/news-and-program-information/pages/10ksbv-press-release-25-apr-2022.html

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The US Chamber of Commerce advocates for a Small Business "Bill of Rights".

https://www.uschamber.com/small-business/u-s-chamber-calls-on-congress-to-support-small-business-growth

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Facebook-parent Meta and Adobe have teamed up to offer free training on creative and marketing skills called "Express Your Brand".

https://blog.adobe.com/en/publish/2022/05/03/its-about-get-easier-express-your-brand-adobe-meta-partner-to-provide-small-businesses-with-essential-creative-marketing-skills

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Persistent inflation is impacting consumer confidence and spending behavior. But there are strategies that small businesses can employ to fight the potential economic headwinds. Two ideas from Noah Fleming's book Evergreen are to: (1) create customer segments to better understand and serve customers, and (2) build community around your brand.

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