NEARLY half of small business owners are completely unaware of how to market their firm, according to research.
A study of 500 leaders of small to medium-sized organisations found 42% have no idea how to create an online profile, which could have a positive effect on promoting their business.
And a staggering 39% of the entrepreneurs polled don’t even have a company website.
Of those who do have one, one in 10 enlisted the help of a friend to set it up, and one in 20 relied on family.
While six in 10 business owners haven’t even considered using social media to advertise.
It also emerged three in 10 will often seek business advice from others when unsure of how to proceed with something – with friends and family being the first port of call.
Most common ways to market a business
BELOW are the most common ways to market your business, according to marketing platform Adzooma.
- Setting up a website
- Setting up a social media profile
- Using social media advertising
- Getting online reviews
- Creating an online listing
- Advertising in local media
- Joining online communities
- Posting flyers locally
- Using directories
- Implementing search engine optimisation (SEO)
- Running Google Ads / pay-per-click activity
- Using content marketing
- Using SEO strategies
- Creating a blog
- Attending/hosting a local/online event
- Using influencer marketing
- Advertising in national media
- Running Microsoft Ads / pay-per-click activity (formerly Bing)
- Microsoft Search Engine Marketing
- Instilling the help of an agency
Rob Wass, director and co-founder of digital marketing platform Adzooma, which uses AI technology to help businesses of all sizes succeed online, and commissioned the research, said: "We’re currently experiencing digital transformation like no other – therefore digital marketing and online advertising is more important than ever.
"We’ve experienced a global pandemic and it’s become significantly more important for businesses to move online.
“It’s not necessarily surprising to see that around 50% of small business owners don’t know how to best market their business, as for a lot of people it’s complicated and challenging given that they’re not digital marketers.
"However, in order to succeed businesses must be online and there are platforms and solutions available out there to achieve this.”
The study found that despite the lack of knowledge, many business owners are taking the necessary steps to market their services.
This includes setting up a website (35%), a social media profile (33%) and using social media advertising (31%).
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Just over a quarter of owners (26%) are encouraging online reviews from their customers, while two in 10 are specifically advertising to target local media and joining online communities.
The study, carried out via OnePoll, found that although entrepreneurs haven’t paid to advertise their business on social media, eight in 10 do regularly use the likes of Facebook (73%) and Instagram (59%) to post about their products and services.
But just two in 10, half the number that utilise Facebook, post regularly on professional networking website LinkedIn.
Aside from advertising, SEO is another area of expertise some business owners are unaware of with three in 10 having no idea what it is and how it works.
Despite this, 39% are considering a SEO strategy to improve their business’ google rankings.
The results also found 36% of business owners put aside at least 10% of their revenue budget towards advertising their business.
While two in 10 increase this to at least 25%.
When marketing their business online, 37% consider a website to be the best way to show customers where to find them or who they are.
A third also value a social media presence, while others deem advertising on social media, having online reviews and an offline presence as ways to promote their business.
But nearly half of business owners (49%) admit they could have made more sales for their business if they had marketed themselves properly online.
David Sharpe, co-founder of Adzooma, added: “Marketing your business online to be seen and gain greater client exposure is so invaluable in today’s market.
“Having no online presence at all can pose a huge risk to sales and long-term relationships.
"It’s understandable that business owners struggle with this part of the process, as they’re not necessarily marketeers.
“However, that’s why Adzooma exists: to make digital marketing more accessible and straight forward to all businesses, no matter their size.”
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