Your small business can lay the groundwork for continued growth in 2016 by leveraging these digital marketing trends to create consumer interest and loyalty to your brand, products, and services. Making sense of a rapidly-changing landscape is not always easy, but there are plenty of reasons to be confident too. By writing blogs or sending articles, businesses can provide unique value for potential customers inexpensively.Â, Small businesses must recognize how digital marketing can benefit them or face losing customers.Â, Mobile apps provide small businesses with an easily accessible channel to reach and market to customers.Â, Almost a quarter of small businesses (22%) want to begin marketing through mobile apps in 2020.Â, Considering 3.5 billion people own a smartphone worldwide, mobile apps offer businesses an opportunity to reach a massive audience.Â. Online sales accounted for more than a fifth of retail sales by the end of last year11 â an upward trend that is likely to continue through 2020 and beyond. Â. The pandemic has pressed the pause button on all trade shows and live events. The fourth edition of the Small and Medium Business Trends Report shares insights from over 2,300 SMB owners and leaders globally. Every year brings fresh opportunities and challenges for businesses, and 2019 was no exception. Salesforce Research Small & Medium Business Trends Report / 3 01. Unemployment remains at a record-low, wages have risen to their highest levels in over a decade, consumer confidence is on the up and firms of all sizes are innovating and expanding into new markets. Small Business Marketing Trends and Tips for 2020 In this report, we share insights from our 12M small business customers to help you stay ahead of the curve in a changing marketing landscape. Finally, announcements made in the Queenâs Speech at the end of last year should provide an additional boost for SMEs. âEach day we would post two competing images [of famous paintings] on Facebook and let followers vote with a like or heart. A new year is a chance to look ahead to the economic, societal and industry trends impacting businesses in all sectors. tubblog. The Promo.com Small Business Video Marketing Trends study showcases the direct feedback of more than 500 marketers and small business owners from all over the world. The top digital marketing trends can propel small business growth. Digital marketing does not require a big budget because people can create organic content without spending money on ads. As a result of these tough trading conditions, some retailers have reduced their store portfolios, or been forced into administration. Small businesses report pain points in areas such as HR, finance, and marketing/advertising. For example, small businesses can use email marketing to promote their services by launching campaigns that regularly alert clients to new updates about their products.Â. Even if you already have a loyal customer base, 2020 is shaping up to be a golden opportunity to scale your company up sustainably, without being exposed to unnecessary financial risk. Michael Alexis, owner and director of marketing at Museum Hack, a museum touring company, said thinking outside of the box helped his business create a successful social media campaign: âOur most successful social media campaign was a museum-inspired âMarch Madness,ââ Alexis said. Creating a high-quality mobile app is an expensive investment. Small businesses will look for new ways to reach customers. business marketing advice. Surprisingly, however, many small businesses arenât satisfied with their online presence â or donât have a presence at all. Consumers too are â¦ Combined with our 2019 data of more than one million users, we found out exactly how SMBs create videos, reach their audiences and grow â¦ These include support for dealing with late payments and doubling the threshold on Small Business Rate Relief.3, While 2019 may have been characterised by lower-than-expected growth across the world, it appears the clouds are starting to lift. Many seem too risky or cost-prohibitive. Economists have predicted an average of +3.2% global Gross Domestic Product (GDP) growth in 2020, partly as a result of growth in emerging markets. Almost a quarter of small businesses (22%) plan to market with an app to better connect with customers and 8% plan to start using augmented/virtual reality.Â Â, Small businesses search for new ways to gain a competitive edge over other companies. Although sustainability is one of the key differentiators for brands this year, itâs important to consider the operational, financial and reputational impact of any new initiative. 7) Small businesses ramp up Digital marketing. Even if your business is providing a service, you must have a way to sell it on the internet.â, Without a website, a small business may seem to lack credibility or be hard to find by potential customers. Registered office address: The Sir John Peace Building, Experian Way, NG2 Business Park, Nottingham NG80 1ZZ. 1. Â Agility and innovation drive success â yet jumping on the latest consumer trends can be costly if they prove to be a flash in the pan. All eyes are on the major food retailers currently experimenting with in-store automation, including entirely cashierless checkouts. Tools such as Experian Business Express help you do this, you can then decide who to work with and what credit limits to set. Our mission is to bring you "Small business success... delivered daily." Digital video ad spend continues to climb, according to IABâs 2019 Video Advertising Spend Report. The past few years have seen a marked change in societyâs attitude to fast fashion, plastic waste and meat-consumption, which will no doubt intensify further in 2020. All businesses should have a website. About 70 percentof the shoppers we polled said they have visited a small business (either online or in-store) at least once a month since the COVID-19 pandemic hit. Experts believe the retail sector could grow by +1% over the next 12 months, bolstered by a recent rise in consumer confidence.13 Brands that have adapted their model during the challenging years look set to benefit from this new-found optimism, although the market remains tough for those who have fallen behind. Their fortunes have not been helped by the fact that many Millennials (and other shoppers) value experiences over things.12. Almost three-quarters of small businesses (70%) plan to increase their social media investment. Approximately 86% of marketers are using video content in their campaign outreach efforts. One-quarter of small businesses (25%) plan to begin using digital marketing in 2020. The rate of change, whether in technology, consumer attitudes, the economy and regulation, mean that staying ahead of the curve is an ongoing challenge. Only 5% of small businesses say SEO was their most successful tactic in 2019, which may influence their choice to not focus on SEO in the future.Â, Nearly three-fourths (70%) of small businesses plan to increase their social media investment in 2020 to reach a wider audience, despite social mediaâs low conversion rate.Â. Only 5% of small businesses say SEO was their most successful tactic in 2019, which may influence their choice to not focus on SEO in the future. Bricks-and-mortar stores have clearly suffered in the face of growing online competition, not to mention costly business rates and wage bills. 2017 Small Business Marketing Trends Report 2 We asked these small business owners a slate of ten questions, including a screening question to identify small business ownership. Why, then, do small businesses continue to invest in social media marketing? Nobody can afford to be complacent and with the economic outlook still far from certain, any adverse change could quickly derail your business. âThe Bank of Englandâs decision to hold interest rates at 0.75% points toward a sense of confidence returning to the UK economy. The Small Business Revolution The face of entrepreneurship is changing from the white middle-aged college educated male to a new class consisting of immigrants, women, baby boomers , â¦ âWe didnât focus on our customers or on their pain points. As a business leader, you need the answer to some important questions. Just as important as uncovering new business opportunities is ensuring they, and your existing customers, are in a position to pay you on time and in full, while protecting your cash flow and credit score. As long as businesses build sustainability into their brand values and are aware of any unintended consequences (such as increased product prices), they potentially might be able to open their products and services up to new audiences. Sustainability and ethics will also shape business strategies and create new growth opportunities, in line with shifting consumer attitudes and purchasing behaviour. Marketers report digital budgets have increased 25% year over year. Emily researches and writes about emerging tech and app development trends. Host John Jantsch is one of my go-to gurus for small . Googleâs first five search results receive almost 70% of peopleâs clicks, while the second page of Google search only receives 5% of clicks. As we prepare for a content boom and richer influencer ecosystem, Open Influence and Social Media Week collected survey responses from over 100 global marketers to better understand what to expect and how brands are preparing their teams and â¦ Experian Ltd is authorised and regulated by the Financial Conduct Authority. Almost all people (86%) rely on the internet to find local businesses.Â, âYour website should be your number one salesperson, 365 days a year, 24/7,â said Lauren Williams, founder of Harmony HR Experts, an organizational development agency. These businesses have missed out on potential sales up to this point.Â, Businesses can grow their brand awareness, connect with customers, and improve their reputation through good digital marketing practices. Social media may grow customer engagement but can be harder to translate to sales.Â, More than a quarter of small business owners (29%) plan to begin using a website and another 29% plan on improving their website in 2020 so that services are easily understood and products easily accessible. Businesses can take advantage of this location bias by mentioning their city, county, and region naturally throughout their websites. Get your 2021 small business content marketing strategy in gear by incorporating these top 7 content marketing trends. That's a trends, for small business in 2021, but, you know, I love. Businesses want to be more engaged and in-touch with their social media audience even though social media doesn't usually result in high conversion rates.Â, Meanwhile, almost a third of small businesses (29%) are just beginning to have an online presence. Here are our top six business trends for 2020. Twenty-nine percent of small businesses plan to begin using a website in 2020 as they try to connect with customers digitally. Quality data will continue to underpin your marketing, sales and business strategies, whatever your objectives and budget. The report also found that most small businesses do not use customer relationship management software or keep an email marketing list. Only less than 20% outsource such functions. Only 21% of small businessesÂ plan to use SEO more in 2020, which could indicate a loss in customers. Surprisingly, nearly one-third of small businesses (29%) plan to begin using a website for the first time in 2020. People are now more skeptical than ever on traveling. 1 goal in 2017, while 23 percent said they need to keep the clients they already have. Companies that use digital marketing have 2.8 times better revenue growth expectancy than businesses that donât. The Bank of Englandâs decision to hold interest rates at 0.75% in January is further evidence of confidence returning to the UK economy. Late or non-payments from customers can seriously damage your cash flow and result in bad business debt, while suppliers could hike their prices to cover rising costs. One key trend to watch over the coming year is conversational marketing, partly driven by innovations in voice search and the adoption of smart speakers such as Alexa and Google Home.6 Another is using chatbots to deliver personalised marketing messages via a medium many already interact with daily. Another 29% say their website is the marketing channel that needs the most improvement in 2020. Nearly 31 percent of small business owners identified driving sales as their No. Global economic growth, particularly in manufacturing, has been described as sluggish1, while UK high streets continued to struggle in the face of rising online competition and operating costs. The fact that the Information Commissionerâs Office (ICO) issued numerous penalties for data breaches in 2019, suggests that some companies and individuals are still not taking their legal obligations seriously. Small businesses are getting more social (but mostly on Facebook). It can be hard for small businesses to rank as top choices for high-value keywords. Small businesses are especially interested in exploring the benefits and disadvantages of SEO, social media, website, digital marketing, and mobile app options.Â, Small businesses are not focusing on enhancing their SEO strategies. Businesses should consider the reasons to invest in a mobile app and how that content will be different than the content on their website.Â, Small businesses search for new ways to market their services but forget more long-term solutions.Â, Only 21% of small businesses are planning to increase their SEO investment, which means it will be more difficult for them to rank higher on Google.Â, Meanwhile, 70% of small businesses want to increase their social media spending. The fines and reputational damage alone should be enough to make 2020 the year to make sure their practices â and those of their suppliers â comply with the General Data Protection Regulation (GDPR) and other relevant regulations. Data Trends: Digital transformation gathers pace â but what safeguards are in place to protect data? Bolstering the economy further, consumer confidence grew by three points at the end of last year, according to one index.5 As long as you have the right product or service, and keep moving forward, this renewed optimism could pave the way for exciting business growth. We are absolutely thrilled to partner with Open Influence to bring you the âThe State of Small Business Influencer Marketing 2021: Trends Reportâ. All that has started to change in recent years, as technology continues to break down traditional barriers. As well as launching new products and diversifying their services, many are well on the way to digital transformation, following investment in cloud-based applications, Artificial Intelligence (AI) and robotics, and Internet of Things (IoT). As personal data becomes an increasingly prized commodity, businesses are under pressure to review their security and privacy policies. However, it can better compete for localized results, such as âKansas City digital marketing agency.âÂ. Business Insider Intelligence examines the key players in the Small Business lending space, their advantages, and how incumbents can improve their offerings to compete. However, there were plenty of reasons to be optimistic too. A sneak peek inside the reportâ¦ 79% of small businesses said email marketing is important to their business strategy 65% of small business average open rates between 11% and 50% 54% of small businesses send emails at least once per week This looks set to continue into 2020 but some will go a step further, using data captured via these applications to make better business decisions, react quickly to change â and potentially take market share from companies several times their size. In addition, 70% of small businesses plan to increase their investment in social media in 2020 â the most popular marketing channelÂ by 10%.Â, Small businesses should be wary of the effectiveness of social media for direct sales conversions, though. According to the Analyst firm Gartner, the data quality solutions... As the owner of a small business, itâs tempting to try and do... ©2020 Experian Information Solutions, Inc. All rights reserved. But as a small business, itâs often unclear how to effectively use these online marketing tactics. A website is key to a strong online presence.Â, While digital marketing remains a key way to grow your audience on a budget, 25% of small businesses are only planning to begin using it in 2020.Â, Finally, 22% of small businesses want to create an app but these businesses should first figure out what unique value a mobile app gives their clients.Â, Small businesses divide their budget to invest in multiple marketing channels but may need to narrow their focus to truly succeed at one strategy. At the same time, they provide valuable, organic feedback from customers that enables marketers to track trends and improve decision-making.7. You can then nurture these customers to more sales using other marketing channels. Click on the button below and fill in your contact details and someone will be in touch with you shortly. But as with many things for small and medium-sized businesses, growth is often easier said than done. Discover how Experian Business Assist could help you achieve success in 2020. âEveryone buys things on the internet all the time. The small business outlook from current and aspiring entrepreneurs is pretty high. Marketing teams with bigger budgets have pushed the boundaries of data analytics, in a bid to better understand their customers and the path to purchase. Donât miss any tips and how-tos on small business marketing. Top Findings: Small Business Marketing Statistics and Trends Fewer than one-quarter of small businesses (21%) plan to use SEO more in 2020. Mohammed Chaudhri, Head of UK Macro Forecasting at Experian added âThe Bank of Englandâs decision to hold interest rates at 0.75% points toward a sense of confidence returning to the UK economy. One trends this year are shorter video ads, or bumper ads, that are compelling and grab a consumerâs attention. People who are searching for a clothing store or restaurant near want a convenient place for them to shop close to their location. Many have a hard time with customer follow-up. Digital marketing is far from universal in the small business world: Nearly 1 in 5 small business owners do not plan to use digital marketing at all in 2016. And if you listen to his podcast, you'll appreciate why John not On top of that, SMEs have traditionally struggled to compete with big players because they donât typically have the same resources to invest in marketing campaigns, IT infrastructure, staffing and other business functions. Furthermore, a website can promote your goods or services even when your small business is âclosed.âÂ, Small businesses that do not invest in a website could be missing out on potential customers.Â, While digital marketing has been a buzzword since the â90s, not all small businesses have taken advantage of it.Â, A quarter of small businesses (25%) plan to begin using digital marketing in 2020. Data-led marketing has been a game-changer over the past decade, enabling even small firms to run targeted and cost-effective online ads. Small business trends: Levelling the playing field for SMEs SMEs are the backbone of the UK economy, accounting for more than 99% of all private sector businesses. Itâs no surprise that 2020 has been referred to as the year of sustainability, something that goes beyond environmentalism and fair trade.8 Business ethics are now firmly in the spotlight â and those who fail to uphold workersâ rights or use data responsibly could well face a backlash from consumers. Testimonials reviews. 2020, SMEs: Technology will continue to help more small businesses compete with bigger firms. Without further ado, here are the top content marketing trends small businesses should try out in 2021. She also supports other content and product marketing efforts. This campaign failed horribly, with zero conversions.â, âWe didnât focus on our customers or on their pain points. We just focused all our messaging on our product. Small businesses gain increased exposure with a website and it is an important channel to increase a customer base. To avoid this, businesses will need to leverage data to grow their prospect lists, engage with customers, improve their experience and make the most of every sales opportunity. Let me read one that just came in from a . 5. No matter what sector they operate in, many businesses are now well on their way to digital transformation, as cloud-based services become even more powerful and cost-effective. Throughout this report, we report on their answers with charts. As always, it pays to keep a close eye on your customersâ and suppliersâ credit scores, so you can spot late payers and those at risk of defaulting. Customers are rewarding companies that authenticallyâ and holisticallyâmeet their needs. An in-depth look at the marketing trends of 2019 and insights to help make 2020 the best year yet for your small business. Economy: With UK employment levels high and consumer confidence on the rise, is spending set to increase? 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