The typical small business owner (SBO) usually doesn’t have enough hours in the day to keep the enterprise running smoothly and to think ahead like a visionary. These entrepreneurs say they have to reach out for expert help on everything from managing health insurance to marketing. Cargo, a marketing agency, regularly issues reports on the SBO market and has just published a new study, Hey Brands, How About Some Support!, showing what advertisers should do to reach this sector.
According to Cargo’s research, about 26% of SBOs plan to spend more on marketing and advertising in the next year while 52% will spend about the same amount as they did this year. At the same time, 28.6% of SBOs say that deciding how to market their products is a top business challenge.
As these businesses look for partners to help them with key problems such as allocating the ad budget, they say the following media formats are most influential when they make a decision:
- Trade shows: 17.3%
- Search engines 14.6%
- Business magazines 12.6%
- TV 9.3%
SBOs also point out that business marketers are often missing the point when they target small enterprises. 44% of these entrepreneurs say they are not being marketed to effectively. The chief complaints include brands not understanding what their business is all about (16.6%) and non-responsiveness or a slow response when an issue arises (21.3%). Brands can also increase their chances of a sale to a small business when they show that their products and services can be scaled to smaller organizations and by making support personnel available as necessary.
To learn more about small business owners, check out the AudienceSCAN report available on the Research Store at ad-ology.com.