small business marketing research (upstate ny)

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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

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4

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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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5

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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 pnichols@syr.edu Twitter: @porschenichols