Survey: Optimistic Small Businesses Tend Toward Online Marketing (Page 1 of 2)
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Survey: Optimistic Small Businesses Tend Toward Online Marketing
Hurwitz & Associates survey of small businesses reveals correspondence between active digital direct marketing and hopeful 2010 revenue forecasts. Results published in white paper, "Small Business Marketing Health Check."
By Sanjeev Aggarwal and Laurie McCabe
In July of last year, a survey of small businesses (companies with just one to 20 employees) was conducted by strategy consulting, market research, and analyst firm Hurwitz & Associates. The survey was sponsored by Protus, provider Web-based communication tools, like Campaigner.
The results of that survey have been released. In short, the survey finds a
clear correlation between planned marketing efforts and positive growth forecasts.
The complete survey results are available for download as part of the white paper, "Small Business Marketing Health Check."
Small Businesses and Their 2010 Outlooks
The Hurwitz & Associates survey investigates how North American small businesses are succeeding today, and how they are adapting their marketing plans and budgets to compete more effectively in the future.
The economic environment has been challenging for many businesses. In many industries, fewer customers are buying. With limited cash flow and capital reserves, small businesses have been particularly challenged to grow their business. For instance, median annual revenue for businesses with two to four employees is under $250,000.
Consequently, it's not surprising that 50 percent of all survey respondents cite "attracting new customers and retaining existing customers" as their No. 1 challenge. Fifteen percent state the closely related goal of "growing revenue" as their No. 2 challenge. This is followed by "improving cash flow" and "maintaining profitability."
SMBs face common challenges, although economic conditions have had a mixed effect on their revenue outlook. In fact, 46 percent of the SMBs surveyed expect revenues to grow, while 22 percent expect flat revenues, and 32 percent expect revenues to decline.
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