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Key Insights from The Local Merchant Report
The document presents insights from a survey of over 500 small local merchants regarding their digital marketing usage, challenges, and expectations. Key findings indicate that while merchants are eager to utilize digital tools, they face obstacles such as limited resources and knowledge, especially concerning social media. The report emphasizes the need for better analytics, streamlined services, and support to enhance marketing effectiveness.
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Key Insights from The Local Merchant Report
- 1. David Card Research Director June 2015 THELOCAL MERCHANT REPORT: WHERE SMALL BIZ NEEDS HELP
- 2. ¡ Survey of 500+small local merchants ¡ Digital marketing usage and expectations ¡ Key challenges they face ¡ How to help ¡ What’s next and key takeaways AGENDA
- 3. MARKETING OBJECTIVES BYBUSINESS TYPE 73% 55% 40% 57% 9% 13% 0% 8% 19% 32% 60% 35% 0% 20% 40% 60% 80% 100% Local Retail Personal Services Restaurant Service Provider Acquire New Customers Build Brand Awareness Retain Current Customers Share of respondents
- 4. LOCAL MERCHANTS’ MOSTEFFECTIVE MARKETING MEDIA 19% 22% 24% 25% 27% 28% 28% 29% 31% 47% 55% 0% 10% 20% 30% 40% 50% 60% Geotargeting Text Messaging Mobile Advertising Yellow Pages Daily Deals Local Newspapers Booking/Scheduling Platforms Loyalty Programs Coupons Email Marketing Online Advertising Share of respondents rating 4,5
- 5. LOCAL MERCHANTS’ USEOF SOCIAL MEDIA FOR MARKETING 34% 13% 14% 14% 16% 24% 27% 56% 0% 10% 20% 30% 40% 50% 60% I do not use social media YouTube Google+ Blogs Pinterest Twitter LinkedIn Facebook Share of respondents
- 6. EXPECTATIONS FOR SOCIALMEDIA IN MARKETING 37% 7% 20% 25% 36% 39% 42% 0% 10% 20% 30% 40% 50% I have no expectations It allows me to work better with partners It will reduce my marketing costs It adds credibility to my business It will engage my customers It will build brand awareness for my business It will generate leads for my business Share of respondents using social media
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- 8. BIGGEST CHALLENGES WITHDIGITAL MARKETING 21% 33% 33% 42% 0% 10% 20% 30% 40% 50% Not enough resources to hire dedicated personnel Ad budget not large enough Not enough knowledge or expertise Not enough time Share of respondents
- 9. BIGGEST ISSUES WITHSOCIAL MEDIA 2% 9% 9% 38% 51% 0% 10% 20% 30% 40% 50% 60% It has hurt my image in the past. It is too complicated to understand. Poor reviews are there for everyone to see. I have not seen any return on the money I have spent. It is too time consuming to manage. Share of respondents
- 10. WHERE LOCAL MERCHANTSNEED THE MOST HELP – NO SILVER BULLET 9% 10% 10% 11% 13% 15% 16% 17% 18% 24% 24% 25% 0% 5% 10% 15% 20% 25% 30% 35% Loyalty marketing Reputation monitoring and review Deals/promotions/coupons Online display/banner advertising Mobile marketing Blogging/online content creation Paid search advertising Traditional media Getting our listings information Facebook and/or social media Company website, Ecommerce Search engine optimization Share of respondents
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- 12. HOW LOCAL MERCHANTSDETERMINE MARKETING IS WORKING 4% 13% 21% 21% 34% 58% 0% 10% 20% 30% 40% 50% 60% We use call tracking We use promotion codes and coupons We don’t try and monitor where our business is coming from We carefully monitor our website analytics We try to determine where every lead came from We ask customers where or how they found out about us Share of respondents
- 13. LOCAL MERCHANTS’ USEOF MARKETING DASHBOARDS 55% 10% 15% 35% 0% 10% 20% 30% 40% 50% 60% We do not use dashboards Booking/Scheduling platform General marketing platform Social media platform Share of respondents
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- 15. ONE THIRD CANHANDLE MOBILE PAYMENTS, EXPECT HIGH SHARE OF SALES FROM DIGITAL 7% 13% 33% 47%47% 15% 15% 23% 0% 20% 40% 60% None 1% to 10% 11% to 30% Over 31% Able to accept mobile payments Unable to accept mobile payments Share of respondents
- 16. BENEFITS OF APOS SYSTEM BY BUSINESS TYPE 0% 43% 38% 50%50% 30% 18% 17% 25% 5% 10% 20% 25% 22% 35% 13% 0% 20% 40% 60% 80% 100% Restaurant Service Provider Personal Services Local Retail Gathering data on customers Increased repeat traffic Decreased marketing costs Supports mobile Share of respondents using POS
- 17. ¡ Small local merchantslove digital, but need lots of help ¡ Social is shiny new toy, but ROI is missing ¡ Needed: analytics and dashboards ¡ But “dumbed down” streamlined via templates and benchmarks ¡ On near horizon: Mobile, next- gen POS KEY TAKEAWAYS