Michigan universities and associations are stepping up workforce development efforts to ensure that businesses are able to find talent that will help the companies thrive in Michigan.
While the number of credit unions that offer mobile apps is rising, many do not yet make them an integral part of their member acquisition and retention strategy. This is a mistake that can open up significant risk to credit unions. A recent CFI Group study found that 12% of credit union members may consider leaving their credit union if it does not offer a mobile app. Creating an attractive, useful and convenient mobile app for members can reduce the risk of member churn.
BSG looks at the role of nonprofits. Independent Sector says that Michigan has roughly 50,000 nonprofits representing 440,000 employed people (10% of the workforce), $16 billion in annual wages, $133 billion in annual revenue, $179 in total assets held, and $108 billion in annual economic activity.
One of the largest commercial real estate transactions on record in Ann Arbor was completed in what many have called the “deal of the year.” In a $103M deal, Oxford Companies led a group of investors in the acquisition of a portfolio from McMullen Realty Co. For a comparison, the University of Michigan bought the Pfizer property for $108M.
A well-known Detroit museum sought assistance in further developing its website. After working with a consultant to understand how to serve the customer segments, a new site architecture was clearly needed. The consultant worked with the client resources to identify a strategic partner who offered services for approximately 30% of original cost estimates.
Efforts between schools, organizations, and businesses demonstrate the kind of teamwork Michigan needs to build a better economy.
A very successful sales professional explained that while many of his competitors interact with prospects or customers every 2-3 months or so, he spends a great deal of time engaging customers and prospects in-person and over the phone. He often reaches out just to touch base and perhaps help an engineer on a design question that may or may not be directly related to my friend’s particular part. Very often at some point an idea comes up in conversation that turns into a sale.