BACC Newsletter, Tuesday July 5th

BACC Newsletter

info, events, advocacy, and more

July 5, 2022

We are sending this out the day after our nation's Birthday.

I couldn't think of a better quote than the text of the Declaration of Independence.

When in the Course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature's God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.

We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.

In Congress, July 4, 1776

The unanimous Declaration of the thirteen united States of America

Click to read the entire Declaration

Featured Articles & Featured Events

Tightening the belt? Here's the 1st place to look!

Not only has the 2nd quarter just ended, but we are also most likely going to read sometime in the next weeks that the US entered into a recession, or at least dangerously close. In Q1 there was a negative growth rate, and the most optimistic forecast for Q2 was 0% (yes Zero). A recession is 2 consecutive quarters of negative growth. But, since the government controls the data ... sorry I digress.

With the end of a quarter, your accountant or CPA should be providing you an update on your P&L soon. You can blame some of the results on the economy, but it's also time you start looking at results of all of your investments. Marketing & Advertising are most likely your first large data points for you to review.

I am not advocating spending less on advertising. As a business coach I would never do that, especially in a down-turning market. But are you asking yourself if you are spending money in the right areas? That is a question that you must ask over and over again. Your Return on Ad Spend is crucial to this decision-making process. It's also one of the most overlooked expenses.

Why do you advertise where you do?

Are you advertising out of habit? Maybe you are putting that business card ad somewhere because your competitors are. The only question you should ask is, are you increasing revenue at a higher rate than the spend?

If not, stop.

Take those wasted advertising dollars and reinvest in higher performing investments. It's like the stock market. Spend money to make money, not break even. There are so many choices, don't put all your eggs in one basket. And if one of your advertisers offers multiple channels (Digital, Email, Print, etc) - put them high up on your list of choices.

Traditional Advertising

These would be; TV, Billboard, Magazines or Newspapers. These traditional advertisers charge you by how many copies were printed, mailed, estimated viewers, or what the average traffic is on the highway. They can't tell if people read your ad, used it as kindling, or lined the bottom of the birdcage.

Question everything about those investments. How often to you update them? Do you review them, maybe run and A:B comparison? Are they making an impact? Are your target customers going to those mediums? Do you and your customers respect the channel that you are advertising in? Would it matter if you stopped? If you stopped for 30-45 days, would your business slow down?

Do you track your ads?

Simply putting a unique identifier on the ad, or a QR Code that ask people to enter to win something ... There are multiple ways you can find out if your medium is effective. By the way, the Chamber can help you with this as part of your membership, also at no charge.

If you aren’t tracking your ads, is your vendor? Does your advertiser provide any reports showing how many people saw your ad? Or, most importantly - engaged with it? Can they prove it?

Chamber Advertising

The Chamber is here to support and enhance their members. One of the benefits is Promotion and Advertising.

As a Premium Member (Gold, Platinum, Diamond), should you place an ad in this newsletter, we could tell you how many people actually opened the email, and how many clicked on your specific ad. That ad will also be posted on our Social media. If you ask, we will provide data how many impressions & engagements the advertisement had. We can also help you develop better looking and more engaging colorful ads.

Furthermore, you can advertise multiple times per month for no cost other than your annual membership fee. Our 1,700 readers can see your company in this newsletter as well as the 3,000+ followers on FB and Instagram. Add to that our Welcome Center where hundreds of people per month are viewing our info board, or browsing through members literature.

We feel a Chamber Membership is the best investment in this entire town, and we can show you the data. You provide the artwork, and we provide the data on demand. So let's see what the ROI really is!

If you are not a member, maybe now would be a good time to divert some of your marketing budget to one of our premium memberships. Businesses can advertise in this newsletter and on Facebook for as little as $199 per year! Compare that to your other advertising investments in the area, and what data and tools they provide.

If you are already a member, maybe it's time you upgrade to premium by diverting some of your traditional advertising funds to a advertiser that you respect, will provide facts, and truly has YOUR best interest at heart.

One small disclaimer:

There are marketing decisions you make that are in the public or community interest. Little League, Service Groups like Rotary, Kiwanis, Dance Clubs, and many others. You do that for image and the right reasons

Please do not stop those investments!

Member Appreciation Night

July 26th - BYC

5pm - 7pm

Wednesday is the last day for early registration!

$10 gets you the following:

Expanded appetizers from Angel Food Catering (you won't leave hungry)
Open bar
Chance to win Tiger Tickets to an August Game
Bring a spouse / friend / guest / potential member for $10 as well
Premium members bring 2 guests
Networking
Great view, relaxing night

You must be a member to purchase tickets for you & guests.

This is yet another benefit of being part of YOUR Chamber!

Employee Marijuana use, know the law

As more and more states are legalizing the use of marijuana for medical use, recreational use, or both, employers are facing more challenges with maintaining workplace safety while avoiding the pitfalls of laws that are employee friendly to users of marijuana.

According to the National Institute on Drug Abuse, “One study among postal workers found that employees who tested positive for marijuana on a pre-employment urine drug test had 55% more industrial accidents, 85% more injuries, and 75% greater absenteeism compared with those who tested negative for marijuana use.”

People typically think of workplace safety in terms of machinery, hi-los, and other equipment, but as workplace violence increases, it is worth noting that more than one study has linked the use of marijuana to increased psychiatric disorders such as depression, anxiety, and psychosis.

A person’s attention span, memory, or even their ability to learn can be negatively impacted by frequent use of marijuana and can last for days. While one’s cognitive skills go down, the number of worker compensation and unemployment claims go up.

While the majority of states have made marijuana legal in some form or another, they still allow zero-tolerance policies in the workplace allowing companies to fire employees for off-duty use. However, some states are creating protections for employees who use marijuana during non-working hours. About 15-20 states, and some cities, have some form of non-discrimination laws for medical marijuana users, and some of those states have even added reasonable accommodation requirements for employers.

Michigan does not currently have any laws providing employee protection for marijuana use even if the use is during non-working hours.

News | Advocacy | Events | and More

ROI - Employee sponsored health insurance

Employers in the United States this year will earn an average return on investment (ROI) of 47% from their employer-sponsored health insurance (ESI) programs, according to a new study from Avalere Health. This means for every dollar spent on ESI, employers get back $1.47 in financial benefits. The analysis from the health data firm finds that the average ROI is projected to grow to 52% in 2026, and that businesses that invest more in their ESI programs tend have a higher ROI.

Read complete article

Businesses Frustrated as Whitmer releases only 25% of Pandemic funds

"It's astonishing to see that only one in four (dollars) were allocated," said Justin Winslow, president and CEO of the Michigan Restaurant & Lodging Association.

He called on the Legislature and governor to quickly ensure that the remaining $304 million goes to businesses.

Read complete article

Rising gas costs - how are employers responding?

In a recent poll only 1 out 20 employers were assisting employees with gas costs. But as gas prices continue to rise and more and more employees struggle financially, more employers might consider financial assistance or other accommodations to help with gas costs.

Gas prices topped $5/gallon on average in the U.S. last week. Some employers across the nation are making efforts to help employees with the rising cost of gas. A retailer in Florida, Driftwood Garden Center, started giving $50 and $30 stipends in each paycheck. This is in addition to 20-30% raises given earlier in the year. “We almost had to do it, or we risk losing a lot of very good employees,” said chief executive Craig Hazelett.

Leading volunteers by avoiding their allergies

You want to give back, pay it forward, be a servant leader, or one of those great quotes we see on social media memes. So you join a volunteer organization to do so. Great idea! But with many great ideas, they come with challenges.