What customers value most changes constantly, and the pace of change has increased exponentially with the economic recession, says marketing/management expert and best-selling author Jaynie L. Smith and CEO of Smart Advantage, Inc., a marketing/management consultancy whose clients range from mid-sized to Fortune 500 companies
"The businesses who become relevant by addressing what customers really value at any given time will be the first ones out of the recession," says Smith, author of Relevant Selling.
"One year ago, people were looking for financial stability in companies they do business with because of all of the business closings," she says, citing surveys conducted by her company. "Now, on-time delivery outranks that because so many businesses reduced their inventory during the worst of the recession. With demand increasing, customers have more difficulty getting what they want on time."
Smith's company analyzed more than 150 customer surveys to learn why customers buy particular products or services from particular companies. Research is an essential practice for any business owner during any economic cycle, Smith says, but most don't do it. Her analysis of 10 years of customer market research for more than 100 businesses revealed that, 90 percent of the time, most businesses do not know their customers' top values. They are often shocked to learn the priorities of their customers' values.
Smith offers these tips for getting to know what your customers – and potential customers – want and adjust your sales and marketing message to become more relevant.

President Barack Obama surprised Americans, primarily senior citizens, with his 2014 federal budget including a new consumer price index (CPI) formula to compute the annual increase beneficiaries usually receive. If this is approved, the increases in benefits would be reduced.
Social Security is arguably the most important legislation signed by an American president. When President Franklyn D. Roosevelt signed the Social Security Act in 1935, his objective was to provide security for retired Americans against unemployment and old age in a nation where millions of retirees are not guaranteed a pension from their employers.
However, the program has grown phenomenally, from one that benefited 53,000 individuals at a cost of $1.2 million when it was implemented in 1937, to some 54 million beneficiaries (including retirees, widows of retirees and the critically disabled) in 2011 at a cost of some $700 billion annually.
Employed Americans pay into the Social Security fund from payroll deductions (FICA). It's estimated some 160 million individuals are currently paying into the fund. Each payee expects to receive an average retirement benefit of $1,200, increasing or decreasing depending on how long they worked and the rate of their FICA payments. For many retirees, this is and will be the primary source of income and they eagerly anticipate the annual cost of living increases.

As word spread in the region of the aspect of President Barack Obama's plan that will seek to change the calculation for Social Security cost-of-living increases, and adjust the criteria for Medicare, the region's residents, 65 and over, who qualify for Social Security benefits are expressing disappointment and dismay with the proposed plan.

The president's budget plan released on Wednesday is one that includes deficit-cutting proposals seemingly geared to appeasing Republicans, but also includes proposal for some tax increases.
Under the budget proposal, Social Security increases which has traditionally increased annually based on increases in the cost of living will be chained to the consumer price index (CPI).
The chained CPI formula that is being proposed in the 2014 budget was originally proposed by Republicans last year but was rebuffed by Obama. Proponents of the formula said it's more accurate to measure cost of living increases as it takes into consideration the purchasing habits of seniors, who tend to switch their consumption habits based on price increases or decreases, and not based on general price increases.
The chain CPI will mean most Social Security beneficiaries will receive lower, if any cost of living annual increase in the future. However the president's plan will seek to protect low-income and vulnerable beneficiaries. It's estimated the switch to the chained CPI formula will save the federal government $130 billion over the next 10 years.

Recently, Wells Fargo & Company, America's leading lender to women and diverse-owned businesses, announced a commitment to lend a cumulative total of $55 billion to women-owned businesses in the U.S. by the year 2020, updating its lending commitment first established in 1995. The announcement was made by lead executive for Small Business and West Coast Regional Banking president Lisa Stevens, at the Hispanas Organized for Political Equality (HOPE) 22nd Annual Latina History Day conference in Los Angeles.

The announcement coincided with National Women's History Month in March. Wells Fargo has a rich history of working with women business owners, providing them access to capital and financial services. Since introducing the women's lending commitment 18 years ago, Wells Fargo has provided more than $38 billion in capital to women business owners, a group that grew in size by over 20 percent from 2002 to 2007, according to the U.S. Census. Today, approximately 30 percent of businesses in the U.S. are owned by women, according to the National Women's Business Council.

"Women-owned businesses are among America's fastest growing segments, and we are honored to support their role in shaping the future of small business," said Stevens. "Wells Fargo is dedicated to helping women succeed financially - in business and personally."