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Small business marketing

by joe golfer
3 replies
Here are some small business marketing stats from a recent survey. Some of the information seems obvious, but you might find the data useful in your own selling.

LinkedSelling | The State of Small Business Growth in 2016 - LinkedSelling

I didn't read the fine print of the survey methodology, but they said they surveyed 1306 small business owners.
#business #marketing #small
  • Profile picture of the author animal44
    I don't have much faith in LinkedIn data and surveys, however I'd say there's a lot in there that fits with my own research...
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  • Profile picture of the author gjabiz
    Originally Posted by joe golfer View Post

    Here are some small business marketing stats from a recent survey. Some of the information seems obvious, but you might find the data useful in your own selling.

    LinkedSelling | The State of Small Business Growth in 2016 - LinkedSelling

    I didn't read the fine print of the survey methodology, but they said they surveyed 1306 small business owners.
    Joe, your finds are always appreciated, so thank you.

    I find all "surveys" which are conducted by a business with something to sell... and then end their "research" with a recommendation for using their product, to be suspect.

    We have NO clue what these businesses were, what an "Entrepreneur" is, for their survey purposes.

    Consider a report published from a survey done by Freelancer with 2500 Warriors participating...and the survey says...

    join the war room, buy more wso;s and run ads on our platforms.

    OK, so that is one critique. I like my own. research.

    Yesterday, we had a 60 degree winter day here in Akron, OH. I called on 19 businesses and did a survey, for a new marketing product (Postcard-Co-Op)

    I actually spoke to 11 business owners or managers. A very small sample, but enough to repeat the survey and then TEST.

    Over the past couple of decades, I've encountered very FEW business owners who are aiming for a 50-100% growth or even a 25%, these are start up numbers. Perhaps they consider a Warrior with 10 posts to be an "Entrepreneur"?

    40% want more Freedom? Not in my travels. More MONEY, for sure, but many are happy being the boss or big cheese of even a one man hot dog stand.

    I find this survey very skewed toward a LEAD GEN product seller.

    But, other people may find it interesting, in my opinion without knowledge of who the survey was given to and who responded, it feels more like a sales blog post to me.

    It would be like trying to critique copy without knowing who is the target recipient.

    Or like some university Ph.D. endorsing a supplement, after a very limited small group test funded by the supplement company..

    just doesn't ring true for me.

    Maybe a start-up or young business has these problems, but customer acquisition and retention are part and parcel for almost every biz, is it not?

    gjabiz
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    • Profile picture of the author joe golfer
      Originally Posted by gjabiz View Post

      Joe, your finds are always appreciated, so thank you.

      I find all "surveys" which are conducted by a business with something to sell... and then end their "research" with a recommendation for using their product, to be suspect.

      We have NO clue what these businesses were, what an "Entrepreneur" is, for their survey purposes.

      Consider a report published from a survey done by Freelancer with 2500 Warriors participating...and the survey says...

      join the war room, buy more wso;s and run ads on our platforms.

      OK, so that is one critique. I like my own. research.

      Yesterday, we had a 60 degree winter day here in Akron, OH. I called on 19 businesses and did a survey, for a new marketing product (Postcard-Co-Op)

      I actually spoke to 11 business owners or managers. A very small sample, but enough to repeat the survey and then TEST.

      Over the past couple of decades, I've encountered very FEW business owners who are aiming for a 50-100% growth or even a 25%, these are start up numbers. Perhaps they consider a Warrior with 10 posts to be an "Entrepreneur"?

      40% want more Freedom? Not in my travels. More MONEY, for sure, but many are happy being the boss or big cheese of even a one man hot dog stand.

      I find this survey very skewed toward a LEAD GEN product seller.

      But, other people may find it interesting, in my opinion without knowledge of who the survey was given to and who responded, it feels more like a sales blog post to me.

      It would be like trying to critique copy without knowing who is the target recipient.

      Or like some university Ph.D. endorsing a supplement, after a very limited small group test funded by the supplement company..

      just doesn't ring true for me.

      Maybe a start-up or young business has these problems, but customer acquisition and retention are part and parcel for almost every biz, is it not?

      gjabiz
      You are right, a survey from a private source can be suspect, but it's another data point to help form a big picture.

      (By the way, I just took a survey of my dog. So far, 100 percent of the respondents agree peanut butter is delicious. He just doesn't know I put his medicine in it.)

      Your other point is right on the money. You may remember Aaron Ross, the author of Predictable Revenue (search the forum -- there are a few posts about it). He has a new book out with Jason Lemkin called, "From Impossible to Inevitable," where they tell startups to survey the market before launch. Called the "20-question interview," they say you will have a much more focused product that will sell better immediately if you first ask decision makers in the market key questions.

      This goes against the "build it and they will come" approach of many startups. Their point is you won't have to pivot as much, searching for a market sweet spot, after launch if you do some simple research ahead of time.

      They say a critical point of failure for many new and growing companies is they haven't yet solved a problem. They have a product or service, but aren't solving a specific problem for a narrow niche. Hence, they never get traction.

      Seems obvious, because niche marketing is a basic taught in IM and real world marketing alike. But it is often overlooked in a rush to market. Ross and Lemkin say "nailing the niche" isn't just a "best practice." It's a crucial aspect of your survival and growth. The market/people you sell to must recognize almost immediately that your product or service helps them solve a problem they care about and will pay for. You still may have to pivot, but it will be less abrupt, and you will hone in on the big money faster.

      That's the way to build revenue fast.
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