Over one-third (34%) of B2C small enterprises say they have participated in Small Business Saturday in the past, and three-quarters (77%) of those businesses plan to do so again this year, according to a recent report by Constant Contact.
Why do these small businesses continue to participate? Survey respondents cite the increased brand awareness (79%), delivery of new customers (45%), and quick boost in sales (43%) the event provides.
However, of the 66% businesses that have not participated in previous years, more than half (52%) say they will again choose to pass, with many (36%) saying they don't think they will get more business from the event.
Below, additional key findings from the report, which was based on data from a survey of 854 B2C small business.
- 72% of survey respondents plan ahead for the holiday season, but 28% do no advanced planning.
- Of those who do plan ahead, 41% increase in-house marketing activities, 35% increase online and in-store promotions, and 21% order advance inventory.
- 52% say new customers attained during the holidays become repeat, loyal customers.
- 62% of respondents say fall and winter are their busiest seasons.
Small Business Growth
- The vast majority (82%) of respondents say loyal customers are a top growth driver for their business.
- The next most common contributors to growth cited are online marketing tools (66%), a stronger economy (50%), and skilled employees (47%).
- As for how small businesses earn customer loyalty, 90% cite offering a great product or service, 60% say sustained customer communications through email, 49% cite engaging on social media channels, and 47% point to face-to-face interactions.
Roadblocks to Growth
- 30% of respondents say finding new customers is the biggest hurdle to achieving growth.
- Lack of time (23%), the lagging economy (16%), and a lack of funds to invest in growth (10%) are also causing headaches.
About the research: The report was based on data from a survey conducted in October 2013 among 854 members of Constant Contact's Small Business Council.
Know someone who would enjoy it too? Share with your friends, free of charge, no sign up required! Simply share this link, and they will get instant access…
You may like these other MarketingProfs articles related to Marketing Strategy:
- Stop Trying to Measure Everything, Use an Outcome-Focused Lens Instead
- Strategic Alliances: Benefits and Risks
- Empathy in Marketing: A B2B Gamechanger
- How to Build a High-Conversion Evergreen Lead Funnel: A Five-Step Guide
- Your Evolving Value Proposition: How to Recognize It and Get Ahead of Agency Competitors
- The State of Digital Marketing for the Manufacturing Industry [Infographic]