The Inbox Diaries is a series designed to help busy entrepreneurs keep up with all the latest news in small business, marketing, and social media. I’m scouring my inbox every day for interesting tidbits – so you don’t have to.
This Week’s Stories:
1. Happy National Small Business Week!
This week, May 12-16, is National Small Business Week here in the U.S., and there are still a number of ways to get involved. If you happen to live in one of the four host cities – San Francisco, Kansas City, Boston, or Washington DC – there are lots of in-person events to attend. If you’re not prepared to devote a day to attending, you can still watch NSBW events online.
Fun fact: The President of the United States has proclaimed a National Small Business Week every year since 1963!
2. Apple Talks Acquisition with Beats Electronics
Rumors that began flying around the web on Thursday about a possible acquisition of Beats Electronics by Apple have since been substantiated by a number of tech news outlets. According to Business Insider, Apple could be making a formal announcement of the $3.2 billion deal this week. While nobody involved has come out and said so yet, speculation about the motive behind this deal points to Beats’ streaming music service.
While the dollar amounts here are certainly outside the realm of the small business owner, there is still a valuable lesson worth considering. Say you have an established business, and a new competitor comes on the scene. Instead of getting into a lengthy battle of one-upmanship, you might consider acquiring or partnering with the newcomer. While Apple could probably build a brilliant music-steaming app, why re-invent the wheel when you can afford to just buy a wheel off the guy next to you? It might seem pricy at first, but consider all the money you could save in the long term. If you can’t beat ‘em, join ‘em. (Beats pun intended.)
3. Pinterest Announces Paid Test of Promoted Pins
Sharpen your pins, business owners, your chance to monetize that Pinterest presence you’ve been cultivating all these years might be just around the corner. If you’ve been crafting a Promoted Pins strategy since Pinterest announced the possible feature last September, your chance to use those ideas might be coming soon. On a related note, if you have never given a single thought to how you might use Promoted Pins, this might be the time for a little brainstorming session.
Pinterest announced today that it will soon begin testing Promoted Pins with a limited number of select brands in the U.S., only in the search and category feeds. This will help Pinterest collect feedback about the ad experience from both advertisers and Pinners, in order to ensure that “Pinterest continues to be a great experience for everyone.” (Pinterest) Test brands include Banana Republic, Expedia.com, General Mills, Target, and more.