small business marketing research (upstate ny)
DESCRIPTION
This is a small study on how Small Businesses use social media to build their business and increase brand awareness.TRANSCRIPT
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Small Business Marketing
Based on Companies in Syracuse, NY Area
@porschenichols
+77% of Respondents from Syracuse, NY
0 2 4 6 8 10 12 14 16 18
Marcellus, NY
Ontario, CN
Miami, FL
Watertown, NY
Syracuse, NY
Respondents City
Respondents City
+45% of Companies are from the service industry
Businesses in the service industry spend on average 3% less of their budget on Sales & Marketing compared to small businesses overall
+68% of survey respondents have been in business ≤6 years
0
2
4
6
8
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12
YEARS THE COMPANY HAS BEEN IN BUSINESS
This question did not result in any significant insight rather it provides a perspective through which to view the remainder of the survey
+On Avg. Small Businesses Spend Less on Sales/Marketing
The average percent of expenditure for this sample is 12.42%. Companies in the service industry tend to spend more than the average
+Almost 100% of Small Businesses have an online presence
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57% of business owners prefer to use Facebook over their own business website and/or as their only website
+There are 3 Main Reasons Owners ranked their favorite websites
Business Goals
Functionality Technological Purpose
When business owners are deciding how to maximize their online presence they are picking sites that have the functionality and technology to help them accomplish their business goals.
+38% of owners did not notice an increase in sales after advertising
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2
3
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5
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8
9
Strongly Disagree
Somewhat Disagree
Neither Agree or Disagree
Somewhat Agree
Strongly Agree
Noticed increase in sales since advertising on-line
38% of business owners are neutral in regards how they feel online advertising increases their sales. 57% agree that online advertising has positively influenced sales.
+ROI on a digital strategy is a function of effort put in
By what percentage have your sales increased?
This question did not yield concrete results because the top responses range from 11% to 25% and 50% and over. Most important take-a-way is that results will vary.
+53% of Business Owners Believe They Are Highly Engaged Online
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None Low Medium High Very High
Level of customer engagement on social media
Business owners with High/Very High levels of engagement spend as much as 10% more on sales/marketing than those with low customer engagement.
+Businesses Ask Customers How They Heard About Them @ POS
How do you track how your customers are hearing about your business?
+Companies with Less Revenue Spend More on Sales & Marketing
+Resources Small Businesses Need More Of
Talent
• Skilled Talent Driven to scceed
Time • Too much to
do and not enough time
Space
• Need more square footage to run business
+Unmet Service Needs For Small Businesses
Mkting
Resources
• Individual guidance on how to market business
Training • Management
Skills Development
Tech
Support
• Help troubleshoot the many problems that business owners run into
+For More Information Contact: Porsche Nichols [email protected] Twitter: @porschenichols