A thorough digital marketing review can find damaging mistakes that cost companies marketing dollars and lost business.
SEO is easy to learn and Google even gives you the exact methods to rank in search results. It is important for business owners to learn all they can about SEO!
A well-thought-out social media marketing campaign can generate significant revenue for small businesses for free. The payment options are inexpensive and make social media marketing an ideal method to market your business effectively.
Optimism is waning due to a number of factors including inflation, financial security, cyber security and business simply not improving compared to last year.
Employers are inherently optimistic about the future, but concerns about the economy are making employers more cautious about hiring, marketing and spending money.”
— David Phillips, CEO of SayWhat Consulting
NEW YORK CITY, NY, USA, September 15, 2022 /EINPresswire.com/ — A recent Verizon Business survey (source links below) surveyed small business owners and provides valuable information for business owners. There were many takeaways, but the traditional optimism of small business owners is waning after years of Covid and serious concerns about inflation, the supply chain, cyber security threats, layoffs and their own safety long-term personal finance.
• Most business owners said business was no better than last year. The very real economic concerns related to inflation, the supply chain, layoffs, etc. they really affect small business owners and their mindset. I recently wrote about the 2009 recession, and the general feeling from other entrepreneurs I talk to is one of cautious optimism. Business people are inherently optimistic about the future, but worries about the economy make business people much more cautious about hiring, marketing and spending. This is also true for consumers. “I’ve spoken with numerous small business owners who mistakenly decided to slow down their marketing efforts without evaluating which avenues were working and which weren’t. If you must cut your marketing budget, don’t do it across the board. Cut your marketing efforts marketing,” said David Phillips, owner of SayWhat Consulting, “that don’t produce results and keep the marketing that generates revenue.” Realization of a complete digital marketing for small businesses The audit can shed light on this and other marketing mistakes you may be making. It is important for entrepreneurs to learn and use all possible tools to expand their business, including search engine optimization (SEO) i social media marketing – both can cost nothing, but be very effective in generating income. Marketing is your lifeline and cutting it is the wrong decision; perfecting it is probably the best answer!
• Supply chain issues remain a major concern for small business owners. Supply chain problems are getting worse and it shows when you go to your grocery store. The same goes for higher prices and inflation. Small business owners face issues with everything from office supplies to insurance. It is also directly reflected in the prices of their products or services and consumers can wait a year to make a purchase, they will probably do so to significantly reduce their cost. In this economy you need every possible advantage to grow, which is very realistic if you know your target market, understand your competition and have a strong digital marketing presence.
• 82% are concerned about rising prices/inflation. This is a very real concern for all business owners, as evidenced by the mass layoffs and cost-saving measures enacted by both small and large businesses. It’s also a concern for employees, which makes it a very real concern for consumers. The trickle-down effect is much more advanced than most could explain, but common sense requires business owners to plan ahead for worst-case scenarios that inherently change the level of optimism. This then changes the strategic business decisions they make. It’s valuable to get input from a business consultant who will give you a different perspective that you can use in your decision-making process. The Consulting Program for Business Owners (https://saywt.com/consulting-program) was created to help small business owners understand that they can’t be experts in everything by providing real, actionable advice from employee management to digital marketing.
• According to the SEC, more than 50% of small businesses close after a data breach or successful cyber attack. Cybersecurity concerns grew from 31% in 2021 to 55% in 2022. Cybersecurity should be a major concern for all small businesses because it is a realistic and constant threat that occurs 24/7 days of the week. According to CNBC, 43% of all cyberattacks target small businesses costing an average of $3 million per incident (IBM). Many small businesses do not have a cyber security plan to prevent attacks or a reaction plan. Data security is vital and developing a plan to protect your business and your customers should be a priority. If you don’t currently have a plan, the best time to start is right away.
• 61% have invested in technology in the last 2 years to better serve their customers. Customers are the lifeline of any business, and creating a system that delivers an exceptional customer experience is essential to growth. An exceptional customer experience varies by industry and type of business. Customer service in every industry is critical to long-term success, and by analyzing data and trends, you can identify exactly what matters most to your customers. Small businesses need to take the time to learn all about effective customer service, as well as audit their strengths and weaknesses. If you are interested we recommend a full customer service audit. (https://saywt.com/staff-call-audits-1)
• 72% are worried about their financial security. Entrepreneurs understand the risks and rewards of starting their own business and the daily struggles they face. According to CNBC, 34% of small business owners do not have a retirement savings plan. I think this is always an issue for small business owners and something we all need to pay more and more attention to. It’s easy to reinvest in the business for growth opportunities, but it’s equally important to set aside money so you have an exit plan outside of potentially selling your business. There are tons of great financial advisors out there or just start with a simple service like Vanguard or Ameriprise.
Written by David Phillips (https://saywt.com/meet-david-phillips), CEO and founder of SayWhat Consulting. With more than 20 years of experience, Mr. Phillips has consulted with small, medium and large companies in marketing, business management, staff training and operations. SayWhat helps clients in numerous industries including cosmetic surgeons, plastic surgeons, medical spas, law firms, construction, pest control and more. Feel free to call us at (424) 235-8704 or check out our website (www.saywt.com).
Sources:
IBM: https://www.ibm.com/security/data-breach
David Phillips
SayWhat Consulting, LLC
+1 424-235-8704
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September 15, 2022, 2:45 p.m
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