Small Biz in a Digital Age: Consumer Trends
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Monday, February 02, 2015
GoLocalWorcester Business Team
The world of business is moving faster -- hyper fast. Small businesses face the challenge of trying to keep up and innovate their business to create an advantage.
This week, GoLocal brings you a look at how to approach and understand how native advertising and consumer trends affect your small business.
Consumer Trends
Around 58% of small business owners are expecting to see growth in 2015 according to CAN Capital Small Business Health Index.
With all of this expected revenue its no wonder that business owners are projected to try new forms of advertising that will coincide with recent consumer trends.
““Thirty-eight percent [of business owners] said they plan to expand and/or try new forms of advertising/marketing activities…up from 31 percent last quarter,” said James Mendelsohn, Chief Marketing Officer of CAN Capital.
The marketing activities mentioned in the survey include: email marketing and online advertisements.
The company’s survey also reported that only 41% of these aforementioned owners understand how much online reviews, usually created by customers, truly impact their business.
And, trailing just behind that figure is online shopping - which a reported 34% of business owners believe to be a consumer trend that greatly impacts business.
What does this mean?
According to this
survey, it is evident that two things are happening in the small business market.
First, that consumers are beginning to have more choice and say in their shopping experiences and second that business owners need to be savvy on what consumers are looking for when they shop.
Since small business owners themselves have attributed online customer reviews and online shopping as the entities that most impact their business, a lot of care has to be taken when a business presents itself to the customer online.
"Traditional digital advertising has become wallpaper," Jason Hill, GE's Global Head of Media Strategy. "It doesn't improve anyone's experience on a site and readers, myself included, pretty much look past it."
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