Initial benefits of Durbin Amendment add up
The savings from reduced debit card interchange fees continues to add up.
Many restaurateurs are seeing the effects of financial reform legislation, now that a government cap on debit card swipe fees has been in effect for about two months.
The cap, which took effect Oct. 1, is a limit on what large banks can charge merchants for accepting debit card transactions. The Federal Reserve announced the limit in June.
According to National Restaurant Association partner Heartland Payment Systems, its restaurant clients saved about $8.4 million between Oct. 1 and Nov. 20 (the latest date for which figures are available). Read the rest of this entry
10 Last-Minute Tax Deductions for Small Businesses
Barbara Weltman / Special to CNBC.com
As we enter the last few weeks of 2011, the to-do list seems to grow longer. One thing small business owners should do is consider whether they have done everything they can to reduce their tax burden. Even at this late date, there are things you can do that will reflect favorably when you file your 2011 return.
Here are 10 things you can do before the end of the year that will let you take advantage of tax write-offs. And always keep in mind, if you have any questions about tax rules affecting your business, discuss them with your tax advisor. Read the rest of this entry
How to tackle menu labeling
HealthyDiningFinder.com
Editor’s note: The following column is from Healthy Dining, a group of restaurant-industry nutrition specialists. Healthy Dining’s website, HealthyDiningFinder.com, helps consumers find restaurants offering “dietitian-approved Healthy Dining” menu options. The views expressed here do not necessarily reflect those of Nation’s Restaurant News.
It’s official. A nationwide menu-labeling bill has passed as part of the larger health care reform bill. This new legislation, which applies to restaurants with 20 locations or more within the United States, will pre-empt the regional and state-based regulations that have been causing havoc for chains operating in multiple jurisdictions. The National Restaurant Association emphasizes that this new ruling is a “win for consumers and restaurateurs” as it provides “one consistent national standard that helps consumers make choices that are best for themselves and their families.”
What should your restaurant be doing to get ready? Read the rest of this entry
Menus friendlier to diners on restricted diets
Lisa Jennings / Nation’s Restaurant News
Restaurant menu items are increasingly being described as gluten- or cholesterol-free, or low in fat or sugar, catering to consumers who say they are on restricted diets, according to new research by Technomic Inc.
Whether due to choice or necessity, a growing number of consumers say they have dietary restrictions and are asking for more transparency on restaurant menus. Restaurant operators are increasingly accommodating that demand. Read the rest of this entry
5 Small Biz Mobile Marketing Strategies for the Holidays
Ted Iannuzzi / MASHABLE Business / mashable.com
This year’s record-breaking Cyber Monday and Black Friday sales are a good indication that a successful holiday shopping season is well underway. We’re seeing big retailers pull out all the stops when it comes to holiday-centric mobile marketing campaigns.
In fact, approximately 52% of smartphone users will use their devices to research products, redeem coupons and use apps to assist in their holiday gift purchase.
It’s not too late for Main Street to hop on the mobile marketing sleigh either — you don’t need a big budget to execute an effective mobile campaign. Though you may have already launched your print and website advertising campaigns, consider the following five last-minute mobile marketing strategies — and get a jumpstart on 2012.
1. Create a Specialized Mobile Holiday App
One study shows that 43% of mobile shoppers have downloaded a retail app. Even if you already offer an app for your business, consider creating an app especially for the holiday season — it will do even more to attract last-minute shoppers.
With a number of low-cost, DIY tools available on the market, small businesses can easily create and update universal apps that can be ready for distribution the same day. In addition to holiday specials and store hours, your app should include a feedback form and some sort of coupon designed to boost sales during the post-holiday slump. Your feedback form should ask customers what kind of mobile outreach they would be most receptive to and collect their mobile numbers for your 2012 campaigns.
2. Build your Mobile Database
If even the simplest app is beyond your reach right now, collecting customer mobile numbers will be critical for your 2012 campaigns. The increase in store traffic during the holidays will translate to a larger database. Hand customers their very last paper coupon at the point-of-sale to redeem in-store post-holiday, in exchange for their mobile number. You can also add a form field to your website prompting customers to enter their mobile numbers in exchange for a coupon or special offer.
Building your mobile database will allow you to take advantage of text or SMS marketing campaigns next year, a low-cost mobile marketing channel that is accessible to 100% of mobile phone users.
3. Get in on Location-Based Deal Services
Though spending is on the rise this year, consumers are still looking for ways to stretch their dollars, and they’re doing it via their mobile devices. Fifty-three percent of Americans are willing to provide their location in exchange for more relevant content and better information, including mobile deals.
Do your bottom line a favor and sign up for mobile deal and location-based platforms to make sure you’re discovered. From Shopkick to Groupon, Foursquare to Yelp, research your options and sign up to bring in new — and possibly repeat — customers. For example, consider offering a limited-time holiday special on Foursquare that, once unlocked via checkin, rewards customers.
4. Engage Customers with a Holiday-Themed QR Code
QR code marketing is a great way to build brand awareness and take advantage of a new technology, especially since 90 million people in the U.S. own smartphones — up 10% from three months ago, according to a survey just released by comScore.
It’s surprisingly easy to customize QR codes, making yours stand out from the crowd. Do it yourself or visit a website like QRlicious, which promises a QR code turnaround time of 24 hours.
If executed properly, QR codes can transform static print campaigns into interactive, trackable advertisements. EShave, which offers upscale shaving products and accessories, placed QR code posters in several phone kiosks. The QR code leads to a mobile site that lets users create their own shaving sets, and was also designed to drive foot traffic to their Rockefeller Center store in New York.
At the very least, your holiday QR code should link to a landing page that encourages holiday shoppers to redeem exclusive discounts.
5. Provide an Integrated Holiday Marketing Campaign
Integrating all or some of the above tactics will bolster your holiday marketing campaigns, but make sure to also promote your mobile presence in-store. For instance, throughout the store display a QR code that links to your app or a special promotion. Display in your store window to attract prospective customers even when you’re closed. Incorporate your QR code and/or app link into your holiday email blasts and promote them on your website and via social media. Companies like Modern Postcard offer quick turnaround and will also print your QR code onto direct mail. Let customers know which deal websites you belong to with store signage and through your usual communication channels.
Mobile marketing is no longer the exclusive domain of big brands. Today’s competitive campaigns and the low cost of entry for many mobile marketing tactics have made it affordable for SMBs to implement multiple strategies. During the holidays you can test out several options and later decide which ones to use for your 2012 mobile marketing plan.
Image courtesy of Flickr, lululemon athletica
