(This post originally appeared on Forbes)
Here are five things in technology that happened this past week and how they affect your business. Did you miss them?
1 — A study suggests that bad Google reviews are costlier to small businesses than Yelp or Facebook.
A recent study published by Womply, a marketing and CRM software provider for small and medium sized businesses, found that low ratings on Google are more damaging to small businesses than unfavorable reviews on Facebook or Yelp. The study found that businesses received 33% less revenue than the average business per year if they had a Google star rating of 1 to 1.5. While businesses with the same ratings on Yelp averaged 19% less yearly revenue, and those on Facebook 9% less revenue per year. (Source: Venture Beat)
Why this is important for your business:
The purpose behind the study is to help business owners make informed, critical decisions of how to engage with their customers online as well as manage their online presence and it’s an interesting study. Google Reviews have become as important as Yelp and Facebook because they’re mostly easier to leave, so your business should be paying attention. Someone in your company should be checking and (professionally and constructively) responding to those reviews frequently.
2 — Airbnb introduces new search tools for business travelers.
Airbnb recently introduced a new search capability on their site for business trips. While the company already provides countless listings geared toward those traveling for business, such as flexible access, personal kitchens, and on-site laundry, the new work trip toggle (now available globally) will allow guests to personalize their search results in order to make more informed booking choices for work. The search will immediately filter out vacation homes as well as any other offerings that may not be appealing or convenient for business travelers. (Source: Tech Crunch)
Why this is important for your business:
There are over 500,000 companies that use Airbnb for business trips and travel, according to Airbnb and yet, because I’m so lazy, I automatically go with hotels when I travel for business. Now I’m thinking that I’m not only missing out on a better experience but probably spending too much money. This is on my list to try before the end of the year. You?
3 — Square launches a robotic photo studio service for online sellers.
Square is looking to fix the common e-commerce challenge of poorly photographed products by rolling out a new service for online sellers. The service, known as Square Photo Studio, will use both robotic arms and high-end camera equipment, offering sellers professional-level photography and will cost a fraction of what it would cost sellers to hire a professional photographer. (Source: ZDNet)
Why this is important for your business:
You ship your product to them. They take a super-professional photo and then they ship it back. Why all the effort? According to a 2018 Weebly survey taken by online shoppers, the quality of a product’s photograph is highly influential in determining online sales, with eight out of ten shoppers wanting to find photos on product pages prior to purchasing. That’s why.
4 — Alibaba welcomes U.S. small businesses to sell globally on its platform.
Alibaba Group, the Chinese e-commerce giant, announced this week that they will begin allowing small U.S. businesses to sell on their site as they look to successfully go up against big companies like Amazon in the business-to-business e-commerce market. Previously, U.S. merchants were only able to buy on Alibaba, however the change will now allow companies to sell to other U.S.-based businesses and will open up markets to U.S. merchants in countries, including India, Brazil, and Canada, that are served by Alibaba. (Source: Reuters)
Why this is important for your business:
As I wrote here, now is the time to start really considering selling on Alibaba. Amazon isn’t the only game in town and it’s important to have as many channels as you can manage to get your products out to the widest range of customers possible.
5— Thumbtack raises $150 million for its local services marketplace.
Thumbtack, a startup that began as a simple marketplace for local professionals, recently closed a new funding round of $150 million, making the company’s value at $1.7 billion. (Source: TechCrunch)
Why this is important for your business:
Thumbtack has had its challenges, but now the site for contractors, professionals and other 1099-types is back in form with a full bank account and aspirations of going public in the near future. You’re a service provider, I strongly feel that if you choose to list your business on Thumbtack, and with the right amount of effort and resources devoted, it could be an important part of your ongoing lead generation efforts. But again, it will take time and resources – like anything else.
