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Month: August 2023

CBICC Member, Customer Follow UP, Inc. Featured in National Publication

Posted on by Jeannine Lozier

Marc Warren, President and co-founder of Customer Follow Up, Inc. (CFU), is featured in the latest edition of Construction Executive. The article “The Truth About Brand Marketing” builds a strong argument for a company making its client service its most significant brand differentiator. While the article is written for large general contractors, engineering, architectural and construction management firms, the concepts are applicable to any business that considers the quality of their customer service to be integral to their success.

CFU, founded in 1997, is expert in assessing the relationship between their clients and the customers their clients provide services to through conducting conversational-style qualitative telephone interviews. CFU garners independent and objective customer feedback that internal or web-based methods to obtain feedback miss. CFU’s executive-level analysis identifies customer service failures, successes, and calls to action for the company to take to elevate their customer service and stand out from their competition.

Are ADUs an affordable housing solution 

Posted on by Jeannine Lozier

SUMMARY

Accessory dwelling units (ADUs) are being considered as a compact and affordable solution to address the housing scarcity in urban areas, with their potential to utilize some of the 75% of residential land reserved for single-family homes.
Despite some opposition due to concerns about parking, infrastructure, and property values, ADUs are seen as an innovation that benefits individuals, businesses, and communities especially given the current lack of affordable housing for first-time home buyers and workers.

While awareness about ADUs remains low, progress has been made through programs and incentives encouraging ADU construction, such as Los Angeles’ Accessory Dwelling Unit Standard Plan Program and Santa Cruz’s Forgivable ADU Loan Program.

881 Words ~ 4.5 Minute Read

Across North America, people are asking their city and town councils to take action on property development fees that drive high new home prices, which in turn drive up the market for existing single family homes. As urban areas grapple with housing scarcity, an innovative approach is steadily gaining ground. With 75% of residential land in the United States reserved for single-family homes, many housing experts see accessory dwelling units, or ADUs, as a compact and affordable solution to the widespread residential crunch.

While the conversation around ADUs may seem new, ADUs have been around a long time. Granny flats, in-law suites, garage apartments, and backyard cottages are some of the more familiar names for ADUs.

ADUs come in all shapes and sizes, but typically have less square footage than the main residence. They can be attached or unattached, brand new, or a remodeled section of the main house. ADUs come with all the amenities required for private and independent living, including a separate entrance, kitchen, bathroom, bedrooms, as well as other living spaces. Many ADUs are one-level, which makes them a good fit for seniors. In some places, you’ll see the term DADU, alongside ADU. DADU is the more precise term for a ‘detached’ ADU.

The ADU Conversation

Not everyone supports ADUs as a housing solution. Opponents have raised questions about the demand for parking, a lack of infrastructure, and concerns about decreased property values. Some worry that easing zoning restrictions could make way for institutional investors to build multifamily housing in single family neighborhoods.

Still, in many regions around the US and Canada, there’s simply not enough affordable housing for first-time home buyers in their 30s and 40s. Rents are also at a new all-time national high, with the average renter spending 30% of their income on housing. In places like New York City, renters pay a whopping 68% of their income toward where they live. The shortage isn’t limited to millennials hoping to buy their first home. A lack of affordable housing also affects businesses dealing with hiring and workforce issues because workers simply can’t afford to live near their jobs. That’s why many cities see ADUs as valuable innovation that benefits individuals, businesses, and communities.

Good for People and Places

While ADUs bring many benefits to residents and communities, a lack of awareness is perhaps the biggest issue keeping ADUs from becoming an affordable housing solution. In a recent Freddie Mac consumer survey, they found that 71% of respondents were unfamiliar with ADUs. However, after learning the definition of an ADU, 32% said they were interested in adding an ADU to their property in the future.

Organizations that support seniors are also helping get the word out about the potential of ADUs. AARP champions the construction of more ADUs because they provide housing and rental income for people of all ages. As older adults retire, the addition of an ADU can provide a supplemental income stream. Alternatively, seniors who move into ADUs are often renting from family members, which helps provide stabilized rent and a predictable cost of living.

Jeff Kruth and Murali Paranandi, professors of architecture at Miami University and contributors to Fortune, note that ADUs bring more residents into a given area. The affordable rents and lower construction costs of ADUs provide low-barrier opportunities for intergenerational living. Kruth and Parandi believe that ADUs enhance rather than hurt communities: “As neighborhood populations grow, they become more attractive to small businesses. Coffee shops, restaurants, and grocery stores are more likely to flourish with more residents in a given area.”

Partnerships to Promote ADU Living

While ADUs help communities, businesses, and homeowners, local governments can make it easier or harder to build. In some places, homeowners may need as many as six permits for ADU construction. Some cities are working hard to get ahead of the hassle. Los Angeles has launched the Accessory Dwelling Unit Standard Plan Program, offering homeowners and developers 20 pre-approved ADU designs. To offset construction costs, a $40,000 subsidy is available from the state of California. Additionally, CityLAB, a UCLA research center, has created a guidebook detailing a step-by-step process for building an ADU.

Los Angeles also has a program to incentivize homeowners to build ADUs specifically for seniors. The LA ADU Accelerator Program works by pairing homeowners with older residents who need affordable housing. In exchange, the program finds qualified tenants, offers tenant case management, and landlords receive stable rental income. In Santa Cruz, the city will loan homeowners up to $40,000 to add an ADU along with loan deferment. If the family rents to a low-income household for 20 years, the entire loan will be forgiven through their Forgivable ADU Loan Program.

California is not the only state that offers financial incentives and resources for ADU construction. Cities from Boston to Seattle are finding ways to encourage residents to be part of the affordable housing solution.

The Bottom Line

In the face of rising home prices and a shortage of affordable housing options, ADUs are gaining attention as a solution. Despite their potential benefits, a lack of awareness and complicated permitting processes can hinder ADU construction. Overall, ADUs provide an innovative approach to addressing the affordable housing crisis, benefiting individuals, businesses, and communities alike.

How Small Businesses Can Use Technology to Thrive During Economic Uncertainty

Posted on by Jeannine Lozier

SUMMARY

  • Globalization and online platforms revolutionize small businesses, enabling local reach and global growth through smart marketing.
  • Small businesses can overcome obstacles by leveraging platforms like eBay, Amazon, and Etsy to increase exposure and consumer trust.
  • Online reviews drive improved marketing strategies and customer satisfaction, saving businesses time and money.

799 words ~ 4 minute read

There’s good reason for small businesses to feel hopeful in 2023. Consumer spending is fueling a solid recovery, with post-pandemic travel and entertainment leading the way. Job growth is happening too, with 187,000 jobs added in July. Still, many small business owners continue to work hard to bounce back from the economic slowdown, with many citing hiring and supply chain issues as their top concerns. Despite the anxiety that comes with economic uncertainty, existing technologies and online platforms provide small businesses with solutions that did not exist 15 years ago during the Great Recession. Small business owners who leverage these advantages can thrive despite economic uncertainty and even get ahead of their competition. Here are four small business strategies to help fortify your business in both good and challenging economic times. 

Strategy #1: Stay Local, Go Global

In 2008, businesses who relied on in-store customers did not have much room to pivot. Likewise, geography played a huge role in which businesses survived and which businesses died during the pandemic. Many small businesses simply were not set up for online sales, much less to appeal to markets beyond their region. 

Today, globalization has helped even the playing field for small businesses. Businesses focused on growing their customer base by expanding into online channels are able to maintain their local presence while building a national, even global, reputation. Offering your products and services online is an important first step, but it’s essential to capitalize on your increased exposure through proven marketing strategies that let you communicate with potential customers directly. 

Using a lead magnet to collect email addresses is a simple and effective strategy for increasing your online sales. Rather than relying on organic traffic, social media algorithms, or ad spend, email marketing allows your business to build trust with potential customers before they buy. It’s also a fast track to sharing sales, promotions, and new offers with a warm audience.

Strategy #2: Join Forces

It can be challenging for small businesses to sell directly to consumers, when they’re first starting out. That’s why many market experts encourage small businesses to uplevel onto platforms that provide greater exposure. From Ebay to Amazon, or even Etsy for some microenterprises, global platforms also come with increased consumer confidence. 

While it takes time to get started on some online platforms, the effort spent is well worth it. Budget some additional time to learn how to optimize your products for specific platforms, including how to write SEO descriptions that match what your ideal customer is plugging into google. In “4 Ways to Use Amazon Marketplace to Fuel Business Growth,” Mark Wieczorek, entrepreneur and Amazon business owner, recommends planning for additional inventory, tailoring your product descriptions to support Amazon’s algorithm, studying your reviews, and thinking through your full marketing funnel. 

A final benefit of selling your products online is that it allows you to experiment with price points. As consumers penny pinch, even luxury brands are finding new ways to keep loyal customers by offering less expensive products that carry the high-end brand name.

Strategy #3: Tune In 

When small businesses prioritize online customer reviews, they receive many advantages. Understanding your customer’s motivations is one of the most valuable. For the savvy small business owner, these discoveries can translate into better marketing campaigns and ad spend.

Michel Falcon, hospitality entrepreneur and Entrepreneur magazine contributor, says that businesses can collect customer data without violating privacy. He prefers the term ‘customer intelligence’ to customer data because this information helps companies provide a better customer experience. He not only recommends implementing online reviews but also harnessing the power of following your customer’s online channels or themes in their social media posts. While researching your customer’s habits may seem like borderline ‘stalking,’ the information is public and can be utilized to provide a personal touch that increases consumer loyalty. Bottom line: listening to your customers will save you time and money and increase customer satisfaction.

 Strategy #4: Add a Human Touch 

Expanding into online channels, emailing your subscribers, and mining your customer reviews,  are great strategies to reach new and existing customers, even in tough economic times. But if you actually want more positive reviews and returning customers, you have to do one more thing: obsess about your customer’s online experience. 

When customers come into your store, you have multiple ways to customize their experience. But in an online setting, the customer experience encompasses everything from product descriptions to the checkout and thank you pages. Small businesses familiar with providing a personal touch can really stand out by considering each stage of the customer journey. To set your business up for success, make sure to think through how you want your customers to feel from beginning to end, then design your technology to provide a unique and human experience.

Chamber Presents Final Slate of Voice of Business Luncheons for the Year

Posted on by Jeannine Lozier

The Chamber of Business & Industry of Centre County is pleased to announce the concluding events in this year’s Voice of Business luncheons. These luncheons provide an opportunity to focus on important issues impacting our business community, hear from business and community leaders and ask questions directly to speakers. 

Healthcare Forum
Friday, September 15
11:30 a.m. – 1:15 p.m.

Dive into a candid conversation with top executives from Geisinger, Mount Nittany Health, and Penn Highlands Healthcare. They’ll offer insights on contemporary developments in their institutions and the broader implications for our community.

State of the County
Thursday, October 5
11:30 a.m. – 1:15 p.m.

Stay informed at this anticipated annual event. Centre County commissioners will provide valuable updates on county services, initiatives, and projects.

Building Resilience – Workforce Strategies For Post-Pandemic World
Friday, November 10
11:30 a.m. – 1:15 p.m.

Join us for a deep dive into top industry leaders’ strategies to craft resilient workforces in our ever-evolving work climate, emphasizing Pennsylvania’s workforce trajectory.

Take advantage of the chance to network, establish valuable contacts, and actively engage with leaders and peers at the Voice of Business luncheons. Be part of the voice that drives our community forward. Join us, collaborate, and make an impact.

Register Now to Attend

Interested in greater visibility? Explore sponsorship options by emailing info@cbicc.org. 

Email Marketing Trends to Grow Your Business

Posted on by Chamber of Business & Industry Centre County

SUMMARY

  • Email marketing remains a crucial tool for businesses due to its direct reach to subscribers, bypassing algorithms of social platforms.
  • Businesses should focus on nurturing relationships through emails by providing value-added content, including insider tips, trending news, and solutions to customer problems.
  • Pairing email marketing with regular website content updates can increase traffic significantly. 

681 Words ~ 3 minute read

Every day four billion people open email. While social media posting and paid advertising can play a significant role in small business marketing campaigns, experts agree that emailing subscribers remains one of the best marketing tools available. Why? Emails go directly into your subscriber’s inbox and bypass the mysterious algorithms associated with social platforms and paid traffic. And if your business knows how to leverage the latest email marketing trends, you have an instant advantage over your competition. 

Here’s what you need to know about using email to grow your business. 

Nurture Audience Relationships through Email 

Beyond sales and promotions, email marketing is a great way to demonstrate your value to subscribers. Avoid sending too many emails just for the sake of ‘staying in touch.’ Instead, obsess about your customer’s problems and create email content that includes insider tips, trending news and ways to help your audience get ahead. Also, a smart website strategy should also include email. Whenever you add new content to your website, make sure to nudge subscribers with highlights and direct them to read more online. 

How often should you post new content to your website? According to the content marketing experts at HubSpot, it depends. They recommend first running a website audit to determine how often you should post. Then, it’s all about your goals. If your goal is to drive more traffic to your site, then you might need to post 3-4 times a week. If your strategy is to raise brand awareness, then publishing less frequently may work just fine. By pairing email marketing with website publishing you naturally increase traffic to your website without paid advertising.

Find Your Next Content Idea with AI

You’ve probably heard by now that AI is equipped to help you do everything from compose mysteries to finish your kid’s homework. But the truth is AI is only as smart as its user. Many businesses are finding that the best use of tools like Open AI’s ChatGPT and Jasper isn’t to do your work for you, but to do some thinking for you. Rather than starting with a blank page, try utilizing AI as a ‘content assistant’ that can pitch email subject lines or outline email content. 

Know How Privacy Changes Affect Deliverability 

Measuring the success of email marketing used to be a lot easier. However, a side effect of tech giants like Apple creating Mail Privacy Protection (MMP) to help users guard their personal information is that traditional metrics like open rates and click-to-open rates have become less reliable. As of June 2022, 89% of iPhone users adopted iOS 15 which gives users this option.

These updates don’t change the reality that email remains a highly effective marketing strategy. The difference is that you’ll want to look at other metrics such as ROI, list growth, email forwards, and unsubscribe rates to help determine what’s working and when to adjust. 

Turn Subscribers into Fans 

The reason people subscribe to your list varies, but we know that most subscribers are motivated by access to deals, shortcuts, rewards, discounts and hot tips. In other words, they love special treatment. 

You can nurture customer loyalty and repeat sales when you treat your email subscribers differently than everyone else. Rather than making special offers to everyone, reward email opens with exclusive opportunities. This strategy will also help you determine which sales are coming from email versus promotions running on your website, ads or social media posts. 

Are you growing your list? 

Your email marketing efforts are only as good as the health of your email list. To keep your list growing, make sure you have a variety of lead magnets designed to trade exclusive content or discounts for a person’s email address. After you have new subscribers added to your list, your email marketing strategy begins. Far more than a trend, you can kickstart your new email relationship with a series that both initiates and rewards new subscribers. Connect it all to automation, and you have a simple, reliable email marketing campaign to help you make more sales and grow your business.