Small Biz Survey Presentation

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Vistaprint's small business marketing survey results.

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Small Biz Survey Presentation

  1. 1. VistaprintSmall Business Survey<br />
  2. 2. Page 2<br />Project Objectives<br />Assess the overall importance of marketing to small businesses<br />Understand what marketing tools small business owners are currently using, and which tools they plan to or would like to use in the future<br />Gauge marketing spend in 2009 vs. 2008, and what tools small businesses are using more (or less) of because of the downturn<br />Measure marketing budget and time spent<br />
  3. 3. Page 3<br />Survey Methodology<br />300 respondents<br />5-minute online survey<br />To qualify, respondents must self-report as either a sole proprietor, independent contractor, owner or general manager of a business with less than 100 full- or part-time employees<br />
  4. 4. Page 4<br />Respondent Base<br /> 300 individuals are represented in the Small Business Survey<br /><ul><li>54% male / 46% female
  5. 5. 73% of respondents are over 45 years old</li></ul>Of the total sample, 56% work for a business with only one employee; 35% with 2-10 employees; 9% with 10+ employees <br /><ul><li>The mean company size in the 2-10 employees segment is 4 employees; mean in the 10+ employee segment is 33 employees. </li></ul>Respondents’ small businesses are 13 years old, on average<br />
  6. 6. Page 5<br />Small Businesses’ Marketing<br />
  7. 7. Page 6<br />Half of small business decision-makers consider marketing a major success factor, but over half have a marketing budget of &lt; $500<br /><ul><li>About a quarter of these small businesses have marketing budgets of $1000 or more
  8. 8. 17% of small businesses feel that marketing is the major success factor, while a third feel that marketing is not a major success factor</li></ul>2008 Marketing Budget<br />Overall, How Important is the Marketing of Your Business?<br />
  9. 9. Page 7<br />Marketing budget is positively correlated with business size<br />Though the majority of small businesses have a budget of less than $500, over 40%spend more<br />10+ employee businesses are significantly more likely to have a marketing budget over $2500<br /><ul><li>By contrast, single employee businesses are significantly more likely to have a marketing budget between $0 - $499</li></ul>What Was Your Total Marketing Budget for 2008?<br />CD<br /> A = Total Sample<br /> B = One Employee<br /> C = 2-10 Employees<br /> D = 10+ Employees<br />BC<br />D<br />B<br />B<br />B<br />ABC Significantly higher/lower than corresponding row at 95% confidence level<br />
  10. 10. Page 8<br />Decision-makers in larger companies are particularly likely to consider marketing important to the success of their businesses<br /><ul><li>88% of small businesses with 10+ employees consider the marketing of their business either the major success factor or a major success factor
  11. 11. By contrast, 41% of single employee businesses feel the marketing of their business is not a major success factor</li></ul>Overall, How Important is the Marketing of Your Business?<br />B<br />BC<br />ABC Significantly higher/lower than corresponding row at 95% confidence level<br />
  12. 12. Page 9<br />Small business decision-makers spend an average of four hours per week on marketing and advertising<br />Decision-makers in small businesses with fewer employees tend to spend less time and money on marketing and advertising <br /><ul><li>Decision-makers in single employee small businesses spend an average of 3 hours per week on marketing/advertising
  13. 13. Decision-makers managing 10+ employees spend almost 7 hours per week on marketing/advertising</li></ul>On Average, How Many Hours Per Week Do You Spend on Marketing/ Advertising?<br />SB Average: 4.1 hours<br />BC<br />ABC Significantly higher/lower than corresponding row at 95% confidence level.<br />
  14. 14. Page 10<br />Email marketing is the most commonly used marketing tactic among small businesses in general<br /><ul><li>Social media seems to be a planned “next step” for many, while direct marketing (online and print) has a relatively high dropout rate
  15. 15. Understanding why postcard/catalog marketing has a high dropout rate could help Vistaprint offer new solutions</li></ul>Do You Use the Following Marketing Devices?<br />In the past, but not currently<br />No, but plan to in the next 12 months<br />Yes, currently<br />
  16. 16. Page 11<br />Almost a third of 10+ employee businesses plan to try TV/radio/print advertising in the next year<br /> A = One Employee<br /> B = 2-10 Employees<br /> C = 10+ Employees<br /><ul><li>Online/paid search and social media also seem to be areas of interest.</li></ul>Do You Use the Following Marketing Devices?<br />Yes, currently<br />In the past, but not currently<br />No, but plan to in the next 12 months<br />Email Marketing to<br />Customers/ Prospects<br />Yellow Pages<br />Social Online Media<br />(Facebook, Linkedin,<br />Twitter)<br />Electronic/ Online/<br />Paid Search Ads<br />Postcard Marketing, <br />Catalogs, etc.<br />TV, Radio, and/ or<br />Traditional Print Media<br />Significantly higher than corresponding rows at 95% confidence level.<br />
  17. 17. Page 12<br />Only 38% of small businesses have websites; likelihood to have one increases with business size<br />Small businesses with 10+ employees are significantly more likely to have websites<br /><ul><li>Only 28% of single employee small businesses have a website</li></ul>Small businesses with marketing budgets less than $500 are significantly less likely to have a website, perhaps due to perceived or actual cost barriers<br />Companies who expect to spend more on marketing in 2009 vs. 2008 are significantly more likely to have a website<br />Does Your Small Business Currently Have a Website? (% Yes)<br />AB<br />A<br />SB Average: 38%<br />ABC Significantly higher/lower than corresponding row at 95% confidence level.<br />
  18. 18. Page 13<br /><ul><li>While no marketing tactic stands out as being overwhelmingly important, certain tactics are seen as more important than others by specific types of SB decision-makers
  19. 19. Respondents with a marketing budget over $2500 are more likely to consider TV/radio/print media most important (20%)
  20. 20. SB decision-makers who believe that marketing is the major success factor for their businesses are more likely to feel that online advertising/paid search is most important (20%)
  21. 21. Unsurprisingly, under-30 SB decision-makers are more likely to think that social online media is most important (33% - caution: very small #)</li></ul>Small businesses see direct email marketing to customers/ prospects as their most important marketing tool<br />Which Marketing Tactic is Most Important to Your Business?<br />
  22. 22. Page 14<br />Almost half of small business decision-makers report testing their marketing campaigns<br /><ul><li>Single employee businesses are significantly less likely to test their marketing campaigns – only 36% report testing
  23. 23. Additionally, companies with marketing budgets of less than $500 are significantly less likely to test their marketing campaigns
  24. 24. Decision-makers who believe that marketing is not a major success factor are also less likely to test</li></ul>When You Engage in Marketing Campaigns, Do You Test the Results to Determine What Is and Isn’t Working?<br />Significant Difference within Group ABC. Upper case at 95%<br />
  25. 25. Page 15<br />1/3 of SMB decision-makers look to the Internet for information about marketing<br /><ul><li>Though almost half of the small business decision-makers say that they don’t regularly seek counsel on the topic, the internet and other SBs are the most common sources of marketing information
  26. 26. “Other” sources of knowledge/ counsel about marketing include ad agencies, networking groups and customers</li></ul>Who Do You Regularly Seek Knowledge or Counsel From with Regards to Marketing Campaigns and Efforts?<br />
  27. 27. Page 16<br />The recession has led small businesses to increase their use of the marketing technique they see as most important – direct email<br /><ul><li>Although the majority of small business decision-makers are not increasing their marketing budgets during the recession, over 20% of respondents are increasing their use of direct email marketing campaigns</li></ul>What methods of marketing have you used (more) because of the recession?<br />
  28. 28. Page 17<br />Small businesses would most like to spend additional money and time building their company websites<br />Which of the Following Would You Do More of if You Had More Money/ Time to Spend?<br />If more time<br />If more money<br />
  29. 29. Page 18<br />Small business decision-makers would do more traditional and direct marketing if they had more money to spend<br />Social media is seen as more of a time issue than a money issue<br />Which of the Following Would You Do More of if You Had More Money/ Time to Spend?<br />One Employee<br />2-10 Employees<br />10+ Employees<br />Building Company Website<br />Social Online Media (Facebook, Twitter, Blogging)<br />Email Marketing to Customers/ Prospects<br />Postcard Marketing, Catalogs, etc.<br />Electronic/ Online/ Paid Search Advertising<br />TV, Radio, and/ or Traditional Print Media<br />Yellow Pages<br />None of the Above<br />If more time<br />If more money<br />
  30. 30. Page 19<br />Summary and Implications<br />
  31. 31. Page 20<br />Summary and Implications<br />Small businesses are using more direct email marketing because of the recession – since direct email is also seen as the “most important” marketing tool small businesses use, it may be that small businesses are shifting rather than cutting marketing investment<br />Small businesses are interested in testing their marketing efforts – about half are doing so now<br />When small businesses look for information about marketing, many look online<br />About a third of small businesses would spend more time and money on building websites if they could<br />Only 38% of small businesses have a website currently<br />About a third of small businesses would spend more time and money on building websites if they could<br />Small businesses with 10+ employees tend to spend more money and time on marketing, use more marketing tools, and think of marketing as more important than businesses with fewer employees<br />

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