WJR Business Beat

The good news when it comes to AI, more than three in five consumers are comfortable or very comfortable with chatbots or AI support when contacting brands. Julie Geller, principal Research Director at Infotech Research Group, says "the key with AI and customer service applications is to design for customer outcomes rather than company convenience".

According to a new user testing survey released last month, more than 2/3 of consumers in the US, Australia, and the UK are willing to pay an average of 25% more for their purchases made from their favorite brands. The average person remains loyal to as many as six brands with the most loyalty being associated with grocery, food, clothing, footwear, phone, and electronics brands.

Addressing cash flow through instant collections can be one of the most transformative things a small business can do to operate more efficiently, as well as to be able to utilize and deploy cash on hand for growth. Digital wallets like Apple Pay and Google Pay online payment platforms like PayPal and Stripe, and platforms like Square and Shopify payments offer instant payment, and that means funds become available immediately or within at least a much shorter timeframe.

New data from the Brookings Institute of Washington DC based policy and governance research organization provides analysis by occupation specific exposure data supplied by OpenAI and compared it to each occupation share of local employment to calculate exposure statistics. Now, in general, the researchers found that the greater the education level or pay for an occupation, the greater its exposure to being at risk from generative AI tools.

Report by Voice Solutions Platform offers insight into how AI is impacting the production of advertising content, specifically audio content, in which it is becoming harder to know if it's human or if it's AI. The Voices Report known as the Ad Agency Trends report makes clear that while AI is having a significantly greater impact on the production of voice in advertising, 56% of respondents from ad agencies report indicating that they've used AI voice at some point in the creative process, it's the human voice that remains irreplaceable for final productions with a level of authenticity that provides stronger emotional resonance and relatability.

Many of us find purchase inspiration by going to our favorite social media platforms and one getting a huge boost is the travel industry. As social media has become a major driver of travel inspiration, especially when trying to reach Gen Z audiences. Proof that the seemingly authentic and personal nature of content published on social media is transforming how business is done and how our lives are forever changed as a result.

Influencer marketing continues to play a more powerful role in marketing as a way to promote and drive sales. But did you know this? A small study recently published in the Journal of Advertising Research indicates the most trusted influencers aren't the two-legged kind. Rather, consumers indicated in the study that the most influential influencers are pets.

Spring 2025 Outlook report: Fear is keeping American consumers focused on situations of concern. 42% of the database cited healthcare costs, erratic government leadership in the US government, and a recession, 37% rising fuel prices, 35%, cost of living, some 42.5% Even believe the US economy will never return to its normal consumer trends.

Study from Express Legal Funding conducted by SurveyMonkey called How People Use and Trust Chat GPT in 2025. The significance of this is the elevated trust and confidence that users are seeking from ChatGPT in the form of advice that users can be guided by and action taken on as opposed to just being informed of the individuals polled. 60% say they've already sought and followed advice provided on chat GPT and 70% feel the advice was helpful. 12% seek legal advice, 15% relationship advice, 20%. Career advice, 22%. Medical advice, 30%. Product recommendations, 33% financial advice and 50% are seeking educational advice and guidance.

Grant Thornton recently conducted a poll of CFOs in this country to find out what big businesses plan to spend on in 2025. Data is from the 226 US Finance Chiefs polled recently.

The banking industry interface between customer and bank continues to move more onto the mobile platform as new data shows a majority of US adults under 35 do their mobile banking, mainly by way of a mobile app associated with their bank. According to September, 2024, data from FICO, 60% of adults aged 18 to 24 and 62% of adults aged 25 to 34.

Sales data released from the American Pet Products Association, Americans are putting their pets first and not cutting back much at all. Big pet supply and pet food giants like Chewy and others had huge years in sales growth in 2024, and the new forecast suggests that the industry should expect continued growth with a 3.2% increase in spending w/ sales expected to rise to $157 billion in total sales in 2025, up from 152 billion in 2024. In spite of economic and financial concerns that are curtailing consumer spending 77% of respondents in the survey say the economy has not and will not affect their commitment to owning and caring for their pets.

2025 Digital media trends study just released by Deloitte; social video platforms offer a seemingly endless variety of free content algorithmically optimized for engagement in advertising, and it's working. The report states that it's resulting in social media platforms now drawing over half of all US spending.

While consumers are driven to go beyond loyalty these days as a result of supply chain issues, inflation, and price sensitivity over the last five years, other reasons for declining loyalty are due in large part to intense competition, as well as increased discounting.

US Census Bureau reports that the threats of tariffs, government shutdowns, and mass firings of government workers have sparked more economic uncertainties for Americans over the past month which has triggered a pullback in consumer spending w/ only a slight increase month over month in February over January.

Is marketing work becoming more marginalized and homogenized? Are we losing touch w/ what it means to be successful with our creative work? In an age when AI is even becoming a creative force in the creation of content in business today, it's important to foster the human element in all of this. One of the hallmarks of small businesses is that they tend to be more creative and more human when doing their work. And wouldn't it be shame if we lost that?

Monica Longoria, head of Marketing Insights at LG Ad Solutions, says this about the study's results. While secondary screens like mobile devices remain integral to shopping and the broader advertising ecosystem, it's clear consumers want more when it comes to TV, and emerging technologies are set to drive this next wave of innovation, eliminating friction and paving the way for a more seamless, intuitive, shoppable TV experience.

Inc 5000 ranks the fastest-growing companies by industry, metro area, revenue, and number of employees, and it also highlights women and minority-run companies. If you've got a fast-growing privately held business, one that can demonstrate dramatic growth over the last three years, you need to apply. The deadline to apply to the Inc 5000 at the preferred rate is next Friday, March 21st at 11:59 PM Pacific Time. Simply go to inc.com to get your application started now.

A study from the Kaplan Group makes clear just how popular having a side hustle is. According to the study, 5 it's pet sitting, 4 lawn care, 3 photography, 2 landscaping. And at number one, it's drop shipping. Notably, three of the top five landscaping, lawn care, and pet sitting fall under the category of home services highlighting the continued demand for businesses that enhance the home aesthetic and maintenance.

New data from the S&P Global Mobility Award, shows who's winning at brand loyalty today. General Motors and Tesla at the top, which were recognized as leaders in customer loyalty for 2024. Analysis of over 13.1 million new retail vehicle registrations in the US during the 2024 calendar year highlight the importance of brand loyalty determined when a household that owns a new vehicle returns to the market to acquire another vehicle of the same make model or manufacturer.

One of the biggest challenges for online companies and those who operate them is that much of the traffic on the web today is driven by bots, not humans. Bots now account for 80% of all web traffic. According to new data just released from Design Rush, meaning only 1 in 5 visitors to the web is human, and that is forcing businesses to rethink their marketing, analytics, and engagement strategies.

As our world becomes more driven in every way by AI, the trend is actually favorable despite current reticence. 38% of shoppers now like the idea of personalized product recommendations made by chatbots. 31% say AI helps them discover new products faster. Large scale adoption of AI purchasing requires a fundamental shift in consumer behavior, and that's just not happening currently and likely won't be anytime soon.

According to Google, its latest connectivity project known as Tara, iss intended to bring fast, affordable connectivity to the world using a new approach to wireless optical communications technology. It uses invisible beams of light to deliver high speed connectivity over long distances. Similar to the way traditional fiber uses light to carry data through cables in the ground, but this requires no cabling to transport the signal at all.

Food products that are trending hot in 2025 based on the new study released by the Specialty Food Association. The Group's Trend Spotter Panel has just completed an evaluation of thousands of new food products and novel flavors. Snacks for dinner have become a big thing in recent years, but this year's entries are more diverse, featuring vegan, high protein, functional, luxurious, and crunchy items. Wellness and quick healthy snacks will continue to inspire us all. Listen for full list.

A Harris poll, found consumers ranked shopping as the activity that gave them the most joy when spending time online with streaming content and interacting with social media ranking second and third respectively. When it comes to online shopping, the data makes clear that driving a more personalized and relevant experience for consumers is critical. Online shoppers are twice as likely to engage with relevant products, services, and marketing messages at the transaction moment of their purchase journey.

The digital advertising market in the United States closed 2024 on a big high note with ad spending across mobile, desktop, and over the top platforms reaching $34 billion in sales during the fourth quarter. Digital in every way from e-commerce sales to digital advertising continues to show strong growth

Forbes, America's Best large and mid-size employers is now out. Several notable Michigan companies made the list. Employees surveyed were asked if they recommend their employer to others and rate it based on a range of criteria, including salary, work environment, training programs, and opportunities to advance as well. Forbes said research has shown employees have remained relatively steadfast when asked what they care about most in an employer. www.forbes.com to see the full list.

Today more than 48 million Americans self-identify as black per Pew research. Representing 14.4% of the US population. As reported in TechCrunch, if funding share was in line with population, one would expect companies with a black founder or co-founder to attract more than 14.4% of all funding, given that startups commonly have more than one founder. Darren Dodson, founding partner and managing director at Lumen Capital, a venture fund operating on the basis that bias hinders optimal financial performance, says there's a lot of work to do on addressing issues of bias. The proportionately low funding totals demonstrate that investors appear to be passing on promising entrepreneurs due specifically to racial bias, and demographics support this.

Nearly half of workers in a cohort surveyed by Pew Research of workers who are currently working from home at least some of the time, say that if their employer no longer allowed them to work from home, they would be unlikely to stay at their current job. Now, this includes 26% of those who say they'd be very unlikely to stay a smaller share, 36% say they'd be likely to stick at their job even if they had to come in every day and 20% say they'd be very likely to do so.

Why local marketing and advertising? Local advertising works because of its relevancy. Local campaigns can capitalize on the immediacy of customer intent, leading to a higher conversion rate and more tangible results.

Wallet Hub released its annual ranking of the best states for starting a new business in the US. Wallet Hub's approach is based on comparing the 50 states across 3 key dimensions. One business environment. Two, access to resources critical to starting a business. And three, the costs of starting a new business. The top 5 states to start a new business in, according to Wallet Hub: Idaho, Texas, Utah, Georgia, Florida.

One of the greatest opportunities small businesses have is the opportunity to gain exposure for one's business through the power of the press. Producing and distributing a press release to journalists who cover your field of endeavor, and having them pick up your story and put it in print can be such a huge windfall for small businesses.

While CEOs battled their FOMO, that's fear of missing out, of course, their employees are experiencing a different side of the AI revolution. A phenomenon now coined FOBO, the fear of becoming obsolete, driven specifically by the fear that the speed of artificial intelligence development is outpacing the re-skilling of employees.

small and medium-sized enterprises are among the most trusted institutions in America, w/ 21% of respondents trusting them to tell the truth. Four times the trust level for big corporations. Shahar Silverat, Media Post, explains, Personal engagement defines the trust gap between small businesses and large corporations because small businesses generally operate w/ smaller footprints and more localized presences. They more directly understand their customer's values. People trust a company when the humans behind it are identifiable and relatable.

For AI to be successful, it's not enough for the CMO and CIO to communicate with one another, every member of both teams needs to be in sync on use cases and how they measure success. Structure your AI to fit your marketing goals. Clear data sets, KPI's & metrics are critical for marketing success w/ AI. And take responsible risks, experiment with your use of AI and creatively infuse AI into new areas or interactions w/ consumers.

Big news when it comes to online sales is heating up as big online marketplaces like Amazon and eBay are making moves to position themselves to be able to play more aggressively in this space by pairing with Hyundai and Carmel selling cars.

2025 Mobile Consumer Insights report from Vibes makes clear that consumers not only like text messages, they want more of them. 13% now want to receive text messages once a day. Try adding text messaging to your marketing mix as a channel to reach and engage your best customers.

OSHA reports approx 65% of US workers surveyed have characterized work as being a very significant or somewhat significant source of stress in their lives. Employers can identify someone struggling with stress at work first, it's important for employees to be heard. Show empathy and provide access to coping and resiliency resources, supportive networks, and services they can use to address their condition.

Reported in D Business, indicates that Michigan is the third most prolific state in the nation for startup business growth with 325,467 registered new businesses started in 2023. Compared to 298,855 in 2022, that represents an 8.9% increase in new businesses being started between '22 and '23 and puts Michigan at third best in the nation based on the number of new business startups.

Sally Lyons, Wyatt Global Executive Vice President and Chief Advisor, recent study says this, use of GLP-1 drugs are undoubtedly hurting grocery sales. Higher income households earning over $125,000 a year have reduced their grocery spending by 8.6%, and there's no doubt that as adoption of these drugs continues to grow, there's going to be a greater and greater impact on the grocery business.

Salesforce reports that holiday retail sales reached $282B in the US. That's up 4% year over year, and $1.2 trillion globally, a 3% rise from last year. Celia Schwartz, Salesforce, Director of Consumer Insights, said in a statement, retailers had a robust holiday season indeed, but issued a cautionary statement that is a 28% increase in returns compared to last year.

Consumers now check their phones 205 times a day. That's up from 144 times in 2023. According to new data just released by reviews.org. They just completed a study focused on cell phone usage statistics. This data makes clear, it's a powerful opportunity and a prime focus for small business owners as we start 2025.

2025 will include sharp increases in consumer mistrust of brands as people navigate the choppy waters of the higher prices they now confront. Consumers attribute constant and unpredictable price changes to gouging and brand opportunism.

Moms make over 70% of all household purchases. Mothers in the US spend over twice as much time on Facebook and Facebook Messenger than they do on TikTok, that according to September ComScore data, 93.3% of US mothers are on social media. Those of us who are in business and are focused on making sales better be focused on getting the attention of moms.

As reported by Axios Detroit, Michigan's outdoor recreation industry pumped $13.9B into the state's economy last year. In addition to the tourism activities associated w/ the state's recreational sector, it's the production, the warehousing, the shipping of outdoor recreation specific goods, the jobs in those businesses, for example, from the manufacturing of boats, outdoor apparel, and even fly lines for fly fishing.

While we scramble to make those last minute purchases, retailers will be ringing those cash registers as an estimated 157 million consumers plan to still shop on the last Saturday before Christmas according to the annual survey released this week by the National Retail Federation.

The Snowflake Startup Challenge, for early stage startups that are building innovative applications and products, is open. Powered by Snowflake's AI Data Cloud, the winner and finalists receive up to a million dollars in investments from Snowflake and mentorship from industry leaders at New York Stock Exchange. Deadline to apply is March 1st, 2025. Go to snowflake.com/challenge

AI is playing a major role this year as Salesforce reports that AI will influence as much as $200 billion in sales as retailers have increased their use of generative AI and chatbot agents, and that's a 23% week over week increase just since Cyber Monday.

Latest workforce trend known as revenge quitting, when workers who feel particularly burned out or frustrated may be more likely to quit w/ little regard to whether they leave on good terms w/ their employee or not. A recent report on workplace trends for 2025 by Glassdoor noted that a wave of revenge quitting is on the horizon. What's an employer to do? Take extra care to ensure a strong company culture in which employees feel appreciated, wanted, and heard.

Ryan Goff, Executive VP Chief Marketing Officer and Social Media Marketing Director at MGH said, content creators and businesses alike should take note of the opportunity the TikTok platform presents. The impact of compelling content and reviews have on purchasing decisions as we dive head first into the competitive holiday season. So if you're a merchant looking for a way to create awareness and drive direct sales, look to social media platforms like TikTok and others to do just that this holiday season

Adobe Analytics measured the impact of marketing investments this season. Consumers spent an overall $6.1 billion online on Thanksgiving Day, up 8.8% year over year. Mobile shopping hit highs on Thanksgiving Day, reaching 59.5% of all online sales, which represents $3.6 billion in online spending via mobile, up 10.5% year over year. The process of optimizing your site on mobile has never been easier as an endless array of tools and resources at your fingertips these days to do just that.