Leveraging Broadband to Grow Your Small Business

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This presentation discusses why and how the Internet matters to small business and reviews statistics and findings on how small businesses are currently using the Internet and what they need to do to increase adoption.

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Leveraging Broadband to Grow Your Small Business

  1. 1. Leveraging Broadband for Your Business 33 Presentation for: Newark Tech Week Presented by: Rania Kort November 7, 2013 The NJ State Broadband Initiative
  2. 2. About the State Broadband Initiative • Why and How the Internet Matters to Small Business • Why and How the Internet Matters at the National and Global level • How Are Small Businesses Leveraging the Internet Today? • What Do Small Businesses Need to Increase Adoption? • Adoption Barriers • How we are addressing those barriers • The Internet Adoption Workshop Series • Next Steps 2 The New Jersey State Broadband Initiative
  3. 3. About the State Broadband Initiative Background  Federally funded grant awarded by the National Telecommunications Information Administration (NTIA)  New Jersey Office of Information Technology was awarded the grant, which goes through January 2015 Small Business Program Mission Goal  To build awareness of the importance of the internet for small business growth  To better understand the Internet needs of small businesses in NJ  To provide technical assistance and educational resources  Support economic growth, global competitiveness and job creation  Foster communication and collaboration statewide with organizations that support small businesses  Help formalize a program and plan to help small businesses increase internet adoption 3 The New Jersey State Broadband Initiative
  4. 4. Partner “…. to retain, attract and grow businesses and enhance small and minority business capacity …. “ 4 The New Jersey State Broadband Initiative
  5. 5. http://www.youtube.com/watch?v=9rzYua2TiD4 5 The New Jersey State Broadband Initiative
  6. 6. Why it Matters for Small Businesses to be Online The New Jersey State Broadband Initiative
  7. 7. Why It Matters for Small Businesses to be Online 1 It is where buyers go …. to find businesses …. make buying decisions 7 The New Jersey State Broadband Initiative ….and make purchases
  8. 8. Why the Internet Matters to Small Business Research Buying Decisions 8 The New Jersey State Broadband Initiative
  9. 9. Why the Internet Matters to Small Business 85% use it to find LOCAL businesses 9 The New Jersey State Broadband Initiative
  10. 10. General Use of Broadband for Small Business 2. • • • It enables small businesses to use it in all areas of their business: Planning • Market Research • Obtaining Competitive Intelligence Online • Identifying Customer Needs • Marketing, Sales and Customer Service • Online Marketing and Lead Generation • E-commerce • Bidding on Contracts Online • Global and Instantaneous Exposure to Markets • Online Support Services • Customer Communication Finance/ Investing • Online Billing • Electronic Credit Checks • Electronic Payments • Streamlined Accounts Payable • Support of “Green” Operations • Sourcing and Partnering • Advertising Job Openings Online • Accepting Job Applicants Online • Search Online for Specific Talent • Creative Employment Compensation • Remote Working Arrangements • Qualifying Strategic Partnering Operations • Online Purchasing • Virtual Inventory and Online Inventory Management • Online Collaboration Across Supply Chain • Support of “Green” Operations 10 The New Jersey State Broadband Initiative
  11. 11. Why the Internet Matters to Small Business 3. It is a platform for innovation that is at the center of a business ecosystem Increases market access ability to compete locally and globally Increases effectiveness Marketing Strategy Sales Innovation Products/ Solutions Reduces costs Service & Support Fulfillment/ Operations More efficient 11 The New Jersey State Broadband Initiative
  12. 12. Why the Internet Matters to Small Business Small businesses that are NOT using it are not only losing many opportunities to grow, but are risking losing their business …. to competitors who are leveraging its power. 12 The New Jersey State Broadband Initiative
  13. 13. Broadband Goals at the National Level The New Jersey State Broadband Initiative
  14. 14. The National Broadband Plan Leveraging the Power of the Internet is included in the national economic goals as a initiative for :  advancing global competitiveness  creating jobs  stimulating innovation And since small businesses are considered a significant contributor to the economy, • funding and technical assistance programs are focused to help deepen their skills on how to adopt and leverage the Internet 14 The New Jersey State Broadband Initiative
  15. 15. The National Broadband Plan National Broadband Goals 1. 100 million US homes to have access to affordable broadband at 100mb/sec 2. US to lead the world in mobile innovation with fastest most extensive networks 3. Every American to have affordable access to robust service and the skills to subscribe 4. Every community to have affordable access to at least 1 gigabit/sec broadband service 5. Every first responder to have access to a nationwide wireless interoperable broadband public safety network 6. America to lead in the clean energy economy and for every American to have the ability to track and manage their realtime energy consumption 15 The New Jersey State Broadband Initiative
  16. 16. How Are Small Businesses Leveraging the Internet Today? The New Jersey State Broadband Initiative
  17. 17. How are Small Businesses Leveraging the Internet Today? “ Many small business owners are still not adopting internet marketing approaches and modern technology. “ Big adoption gap in leveraging technology to grow 100 80 60 40 20 0 Yes No Source: http://www.yodle.net/files/smb-sentiment-report.pdf 17 The New Jersey State Broadband Initiative
  18. 18. How are Small Businesses Leveraging the Internet Today? #1 Concern How to Find New Customers #1 #3 Concern #3 How to Keep Existing Ones Source: http://www.yodle.net/files/smb-sentiment-report.pdf 18 The New Jersey State Broadband Initiative Finding New Customers 4 Keeping Current Customers #2 Affording Benefits Top concerns #4 Keeping up with the expenses
  19. 19. How are Small Businesses Leveraging the Internet Today? Most are putting little or no money into getting customers 23% 38% Do not spend $ on marketing ~ $3000 /yr Are investing ~ $3000$6000 /yr 21% 18% And more than half (56%) do not measure the results of their marketing programs Source: http://www.yodle.net/files/smb-sentiment-report.pdf 19 The New Jersey State Broadband Initiative
  20. 20. How are Small Businesses Leveraging the Internet Today? The Internet is the vehicle that can address the top concern for small businesses but small businesses are still struggling trying to figure out how to adopt it. 20 The New Jersey State Broadband Initiative
  21. 21. What Do Small Businesses Need to Increase Adoption? The New Jersey State Broadband Initiative
  22. 22. Internet Adoption Barriers NJ Small Businesses According to a survey we conducted with NJ small businesses, the top 3 barriers that are keeping small businesses from leveraging the Internet  Lack of knowledge Lack of time - Lack of resources 22 The New Jersey State Broadband Initiative
  23. 23. Using the Internet to Compete and Grow How we are helping address the barriers Adopt Internet Marketing Plan Identifying Planning Your Internet Technical Assistance Business Strategy Interview on the Newark Small Business Show Possible Funding Options Share/Reinforce Graduates| Online Present Awareness Training Finding and partnering with organizations that support small businesses 23 The New Jersey State Broadband Initiative SMALL BUSINESS Small Business Advisory Council
  24. 24. Using the Internet to Compete and Grow The Internet Adoption Workshop Series A comprehensive overview of how you can use the Internet to grow your business 1. Learn the difference between having a website and having a website that brings in leads & sales 2. Learn what tools and platforms exist to expose, promote, and advertise your business 3. Learn how to select competitive keywords for your business and where to use them 4. Learn the strategies and tools for getting you to the top of the search engines 5. Learn the tools to create credibility and exposure in your market on an on-going basis 6. Learn how to deliver a compelling marketing message through Internet-enabled technologies 7. Learn innovative ways to leverage the internet to package our products and service customers The New Jersey State Broadband Initiative
  25. 25. Using the Internet to Compete and Grow The Internet Adoption Workshop Series 4 3 2 1 Online Advertising Mobile Marketing Search Engines Directories, Platforms & Marketplaces 5 Content / Video Marketing Social Media and Email Marketing Ecommerce Website Internet Strategies and Tools • 1 session/ week for 8 weeks • Sessions will be on Tue/Sat • Homework 25 The New Jersey State Broadband Initiative 6 Internet Marketing Plan 7 8 First Program to Start in January- February 2014
  26. 26. Available Programs to Increase Adoption (available to low income households and qualified families) >> Some of the Adoption Programs o Connect2Compete Program o EveryoneOn Program o Lifeline Universal Service o OneEconomy o Connected Nation o FreedomPop o Internet Essentials o Computers For Youth Technical assistance, location advisory, incentive analysis, grants or assistance with crowdlending or crowdsourcing campaigns may be available through BCDC for qualified candidates 26 The New Jersey State Broadband Initiative
  27. 27. Next Steps The New Jersey State Broadband Initiative
  28. 28. Next Steps If you are interested in the program First Name: Last Name: Email:  Get priority to appear on the small business show Business Name Industry  Get your video and use the tips you learned to market your business immediately # of years in business  Get featured in the next newsletter for more exposure Your Biggest Challenge Your aspiration Size of Company 28 The New Jersey State Broadband Initiative
  29. 29. STAY CONNECTED! http://connectingnj.state.nj.us THANK YOU! 29 The New Jersey State Broadband Initiative
  30. 30. Questions? / Feedback? The New Jersey State Broadband Initiative
  31. 31. Resources Statistics http://www.themainstreetanalyst.com/2013/06/03/small-businesssuccess-using-the-internet-and-social-media-infographic/ http://success.1and1.com/wp-content/uploads/2013/06/SBS-Research-Final.png http://www.dowitcherdesigns.com/blog/the-power-of-online-reviews-for-smallbusinesses/ http://www.dowitcherdesigns.com/blog/the-power-and-value-of-online-reviews/ The New Jersey State Broadband Initiative

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