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Small Business Pulse Report

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A majority of small businesses are experiencing revenue growth in 2012, according to new survey data from Constant Contact®, Inc. While the Constant Contact Small Business Pulse Survey reveals …

A majority of small businesses are experiencing revenue growth in 2012, according to new survey data from Constant Contact®, Inc. While the Constant Contact Small Business Pulse Survey reveals optimism about 2012, attracting new customers continues to keep small business owners up at night.

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  • 1. Constant Contact Small Business Pulse The Health and Wellness of Small Businesses Based on Research Conducted in May 2012Copyright © 2012 Constant Contact Inc. 1
  • 2. In This Report  What’s Keeping SMBs Up at Night?  Small Business Resources and Hiring  SMB Marketing Activities  About This ReportCopyright © 2012 Constant Contact Inc. 2
  • 3. 1. What’s Keeping Small Businesses Up At Night?Copyright © 2012 Constant Contact Inc. 3
  • 4. Attracting new customers, engaging existing customers, and getting referrals are the top concerns for small businesses surveyed When you think about how to run your organization most effectively, which of the following “keeps you up at night”? 90% 79% 80% 76% 71% 70% 60% 49% 48% 50% 50% 43% 41% 38% 38% 40% 34% 33% 31% 30% 26% 27% 26% 28% 26% 24% 23% 25% 20% 20% 20% 20% 17% 18% 16% 8% 10% 5% 4% 0% Total B2C B2BCopyright © 2012 Constant Contact Inc. 4
  • 5. Attracting new customers is the #1 challenge facing SMBs; getting funding is also a large challenge Of the items that keep you up at night, which do you rank #1? 80% 69%68%69% 70% 60% 52% 50% 45% 41% 40% 29% 30% 26%24% 18%20%16% 18% 20% 14%11% 14%15%13% 10%11% 9% 11%11%11% 12%12%12% 10% 0% How to attract Getting How to Having a more How to get How to stay on How to identify How to How to make new customers funding connect and integrated referrals from top of the and select the measure the my marketing better engage communication current latest in online best marketing impact of my dollars go with existing strategy customers marketing tools marketing further customers trends campaigns Total B2C B2BCopyright © 2012 Constant Contact Inc. 5
  • 6. Attracting new customers, engaging existing customers, and getting referrals are the top issues for small businesses When you think about how to run your organization most effectively, which of the following “keeps you up at night”? 90% 79% 80% 76% 71% 70% 60% 49%48%50% 50% 41%43% 38% 38% 40% 34% 31%33% 26% 27% 26%28% 26%24% 30% 23% 25% 20%20%20% 17%18%16% 20% 10% 5% 4% 8% 0% Total B2C B2BCopyright © 2012 Constant Contact Inc. 6
  • 7. 2. The Health of Small BusinessesCopyright © 2012 Constant Contact Inc. 7
  • 8. The majority of small businesses surveyed are stable or growing compared to 2011 How has your organization done so far this year? 70% 59% 59% 60% 60% 50% 40% Total 30% 31% 28% B2C 30% B2B 20% 11% 10% 12% 10% 0% Revenues increased Revenues remained flat Revenues decreasedCopyright © 2012 Constant Contact Inc. 8
  • 9. Many SMBs are expecting significant revenue growth this year, few are expecting a major decrease  79% of small businesses expect 2012 revenues to increase over their 2011 revenues with 52% expecting revenues to increase more than 10%. What are your revenue expectations this year compared to last year? I expect my revenues to… 60% 54% 52% 50% 50% 40% 30% 30% 27% Total 23% B2C 20% B2B 13% 13% 14% 10% 4% 4% 5% 3% 4% 3% 0% Increase more than 10% Increase less than 10% Remain flat Decrease less than 10% Decrease more than 10%Copyright © 2012 Constant Contact Inc. 9
  • 10. Cash flow is affecting growth for over 40% of small businesses  Despite operating costs having increased for 45% of small businesses, 57% of small businesses have adequate cash flow to run their business effectively.  19% of small businesses have sought funding this year, of which 16% got some or all of the funding they needed. Is your cash flow sufficient to run your organization effectively? 70% 63% 60% 57% 53% 50% 40% 30% 32% 30% 27% Total B2C 20% 13% 11% B2B 8% 10% 0% Yes, I have adequate cash flow No, my cash flow is inadequate and is No, my cash flow is inadequate and is preventing me from growing barely enough to maintain current operationsCopyright © 2012 Constant Contact Inc. 10
  • 11. Over half of small businesses are not planning to hire more FTEs in the next 6 months  So far this year 63% of small businesses have kept the number of employees the same. 27% of small businesses have increased the number of employees.  50% have kept payroll the same, while 38% have increased payroll. Will you be hiring additional full-time equivalent (FTE) employees in the next 6 months? 60% 52% 50% 47% 40% Total 40% B2C 30% 25% B2B 18% 19% 21% 20% 20% 13% 15% 16% 13% 10% 0% No, I’m doing fine as is Yes No, I need to but can’t UnsureCopyright © 2012 Constant Contact Inc. 11
  • 12. 3. Small Business MarketingCopyright © 2012 Constant Contact Inc. 12
  • 13. Marketing spend has stayed steady for most small businesses surveyed So far this year, the marketing budget has... 70% 60% 59% 61% 60% 50% 40% 29% 29% 28% 30% 20% 12% 12% 11% 10% 0% Increased Decreased Stayed the same Total B2C B2BCopyright © 2012 Constant Contact Inc. 13
  • 14. Email marketing, websites, and in person interactions are most often effective for small businesses Which marketing activities do you find to be effective for your organization today? 90% 83% 84% 81% 80% 75% 71% 72% 70% 68% 70% 64% 60% 56% 49% 49% 50% 43% 41% 38% 38% 40% 33% 30% 23% 22% 22% 22% 21% 22% 22% 19% 20% 17% 17% 18% 15% 10% 8% 8% 9% 10% 5% 5% 4% 0% Email marketing Website In-person interactions Social media marketing Phone calls (for lead generation, etc.) Traditional advertising (print, radio, TV, etc.) surveys Other, please specify Events Public relations Direct mail Online advertising (paid search, etc.) polls Online and Total B2C B2BCopyright © 2012 Constant Contact Inc. 14
  • 15. Small businesses are still most driven by in person interactions Of the items you find to be effective, which do you rank as the #1 most effective? 70% 59% 60% 48% 50% 40% 40% 33% 28% 27% 30% 21% 23% 20% 20% 18% 18% 20% 17% 15% 17% 14% 17% 17% 15% 13% 17% 13% 11% 11%12% 10% 8% 8% 6% 3% 10% 0% In-person interactions ebsite Email marketingDirect mail W Traditional advertising (print, radio, TV, etc.) Online advertising (paid search, etc.) Phone calls Events Social media marketing relations Public Total B2C B2B B2Bs are even more in person focused 80% 59% 60% 40% 20% 17% 15% 14% 17% 17% 20% 8% 8% 10% 0% In-person interactions WebsiteEmail marketing Traditional mail Online (print, radio,(paidetc.) Direct advertising advertising TV, search, calls Phone etc.) Events Social media marketingrelations PublicCopyright © 2012 Constant Contact Inc. 15
  • 16. Of those using social media, Facebook is far and away the most effective, even for B2Bs If social media is ranked in the top 3, which tool do you find the most effective? 90% 83% 80% 75% 70% 60% 55% 50% Total 40% B2C 30% 25% B2B 20% 11% 7% 6% 10% 10% 3% 1% 1% 0% 1% 2% 1% 3% 2% 6% 2% 2% 0% 2% 2% 2% 0% Facebook Twitter LinkedIn Pinterest Google+ YouTube Yelp Other, please specifyCopyright © 2012 Constant Contact Inc. 16
  • 17. Still, SMBs need more help with social media marketing Which marketing activities do you need help with? 70% 66% 59% 60% 50% 47% 42% 40%38% 40% 33% 30% 29% 30% 25% 25% 23% 19% 19% 19% 18% 19% 19% 20% 17% 16% 16% 12% 13% 11% 12% 11% 11% 9% 9% 8% 9% 9% 9% 8% 10% 5% 4% 0% Social media marketing Email marketingWebsite Online advertisingOnlinesearch, etc.) pollscalls (for lead generation, etc.)Direct In-person interactions Other, please speci (paid surveys and Public relations Phone Events mailTraditional advertising (print, radio, tv) Total B2C B2B 59% of Small Business ranked social media as the marketing channel they need the most help withCopyright © 2012 Constant Contact Inc. 17
  • 18. About this study  This is the first wave of an ongoing study about the state of small businesses and the ways they connect with and grow their audiences.  We surveyed over 1000 participants in the Constant Contact Small Biz Council – a research panel of US small businesses and nonprofits recruited from the Constant Contact customer base – between April 24 and May 8, 2012.  This preliminary report includes responses from 728 participants including 448 business-to-consumer organizations and 280 business-to-business organizations.  Media Contact Number of employees for Erika Dornaus businesses included in this study Constant Contact 6% 6% (781) 482-7039 0-10 pr@constantcontact.com 14% 11-25 26-50 74% 51+Copyright © 2012 Constant Contact Inc. 18