We have good news to report! Small businesses are still purchasing. According to Rocket Lawyer’s recent survey, 55% of small to medium-sized businesses saw growth last year, and in 2014, 81% of SMBs expect to surpass last year’s results.
In our newest Small Business Pulse report, we gathered data from SMB executives on what they are purchasing and turned it into one big deep dive into SMB’s beliefs, purchasing habits and budget forecasts. As the digital landscape continues to evolve and innovative technologies develop, both purchasing behavior and marketing tactics change drastically. In a dynamic B2B marketplace that is constantly maturing, it’s difficult to predict purchasing trends. This report aims to do that for you.
Notable highlights include:
- Direct mail is still a marketing channel. 7% of SMBs who came to Business.com looking for online marketing services, were also interested in direct mail services.
- Mobile marketing services continues to be perplexing. 24% of those looking for web design were also interested in mobile marketing services. Our belief is that mobile marketing is on the rise, but SMBs are having a hard time understanding how to intermingle mobile with their existing marketing strategies.
- SMBs looking for increased cash flow are not turning to loans. Instead, 14% turned to MCA (merchant cash advances) for cash flow which shows a rise in the need for merchant services.
The bottom line is that many companies are interested in purchasing products and services that will enable them to better meet the needs of consumers and clients. They’ve already begun their buyer’s journey and were willing to share with us purchases they are looking to make in the near future. With these seven insights, you can begin to polish your marketing and product development efforts this year.
We look forward to hearing your thoughts these 7 SMB Purchasing Trends and how you like this month’s Small Business Pulse. Please also share your thoughts on other key areas that you’d like us to focus on in future Business.com Pulse reports.
Download the Report and Gain Insight On:
- Small business budget allocation for 2014
- Targeted content marketing opportunities
- Where SMBs are turning for growth financing