Customer acquisition is the top challenge according to small-business owners
Small businesses still face difficulties when it comes to acquiring new business. In a Q1 2014 study by Gallup and Wells Fargo, gaining customers, targeting business opportunities and finding new clients or new business was the top challenge among US small-business owners, cited by 21% of respondents. Given the fact that small business does not necessarily have a dedicated marketing department or resources, the task is monumental. Under these circumstances the first act of reaching out to new customers or potential clients is through referrals from friends and family. All other hurdles cited, including those related to costs and the government, trailed by at least 10 percentage points.
The best marketing tactics help small businesses grab prospects’ attention? According to March 2014 polling by Huzzah Media, friend referrals were the marketing tool US small businesses saw the most success with, with more than half of respondents saying so. Advertising ranked second, cited by one-third of small businesses. Also a fact the small business is not digital marketing and Social media savvy, but that seems to be changing and many businesses are rapidly adopting Online marketing, via SEO, SEM and Social media. There is huge potential for growth in Online marketing with small businesses as they become more familiar with digital marketing strategies. It is the responsibility of the Online marketing agencies to reach out to small businesses and to educate them on the Online strategies that are available, and even with a limited budget there is huge ROI in Online marketing when done right.
And those referrals don’t just bring about marketing success—they generate revenues as well. That word-of-mouth was the second-best source of revenues according to US small businesses surveyed by Huzzah Media was likely why respondents saw friend recommendations as so successful. Repeat customers were the No. 1 source of revenues, cited by 44.0% of respondents.
Read more at http://www.emarketer.com/
10 Reasons for Shopping Cart Abandonment
Shopping cart abandonment is a scenario where a customer selects inventory items to store in their shopping cart but fails to make the transaction. Like in a traditional store, the Internet has many “window shoppers” who might browse an online store with an interest in the products but no intention of making a purchase. However, the Internet provides businesses with a unique opportunity to convert these window shoppers into buyers. By understanding the main reasons that customers fail to follow through with their purchases online, businesses can improve their website to address these motivations and boost sales. Here is a look at the ten top reasons for Online shopping cart abandonment.
Reason 1: Accidental Selections
Internet marketers often take it for granted that clicking on a link or selecting an option is a sign of intent. When Internet users select to click on something online, it is often assumed that they intended to make that selection. However, there are many scenarios where an individual can unintentionally select an item from an online store that they had no intention of purchasing. A sluggish web browser or unresponsive mouse might cause a visitor to accidentally click on an item to have it sent to their shopping cart. A parent might leave their computer unintended only to find that their children added an item or two to their shopping cart while they were away. While these accidents do not reflect any failure on the part of the online retailer, they do make it difficult to collect meaningful data on sales. In order to understand what consumers are selecting, it is necessary to be assured that they intend to make those selections. By using a confirmation process before adding an item to an online shopping cart, businesses can decrease the number of accidental selections and ensure that their customers intended to actually add an inventory item to the shopping cart. Continue reading
Higher Spending, Clicks for Paid Search in Brazil
Advertisers are benefiting from initiatives to increase their spending on paid search in Brazil. Making up for a lackluster digital market overall, paid search generates more clicks from Brazilian consumers.
High spending in search led to increased click through rates
As a PricewaterhouseCoopers (PwC) study reveals, advertisers are recognizing the rewards of investing in paid search in Brazil. According to the study, advertisers in Brazil will allocate $1.7 billion dollars solely to paid search this year. In comparison to overall ad spending in Brazil, investment in paid advertising accounts for 61% of total digital ad spending. Behind paid search spending are classifieds, displays, mobile devices, and video.
Trends show that paid search ad spending in Brazil is increasing at the same rate as overall digital ad spending. Between 2010 and 2013, paid search ad spending increased by 83.4%, which is nearly identical to the 84.2% growth recorded for all digital advertisements in the country. Further, PwC projects that paid search ads will continue to receive strong growth between 2014 and 2017. During this period, paid search is projected to increase by 57.3% while overall digital ad investments are anticipated to increase by 59.1%. Continue reading
Google increases Q4 2013 spending, impressions, and clicks with Google’s Product Listing Ads. Mobile brought high gains with smartphone clicks increasing 1,589% and tablet clicks increasing 335.7% over Q4 2012.
Mobile enhancements boost PLA click share up to one-quarter
Google took a gamble when it introduced its Google’s Product Listing Ads (PLAs), search ads that also include price and image in the results. The risk paid off when the company experienced increased growth over Q4 2013, after launching the new enhanced listing option. Since the launch of PLA, ad spending increased 71% quarterly and 164.8% annually, according to The Search Agency. This came with a 0.28% boost to Google’s total spend share. Continue reading
While UK citizens in their 70s still shun online banking, those between 50 and 69 adopting online banking. The availability of mobile devices and busy lifestyles are the main drivers of this trend.
Time management demands lead to change in money management habits
According to a January 2014 GfK study, UK residents use of digital electronic communications devices between the ages of 50 and 69 is on the rise. At this pace, adults in their 50s and 60s are mirroring teenagers in their use of technology and are more technologically astute that those in their 70s.
As the GfK data reveals, more than half of those in the 50-to-59 age range own a mobile device that provides internet access. Further, one-third of those between the ages of 60 and 69 own mobile devices with internet access. However, only 9% of adults over the age of 70 own a mobile phone device. Additionally, the data shows that one-fith of those in their 50s own a tablet device while 13% of those in their 60s own a tablet device. This number continues to decrease with age, as only 5% of those over 70 own a tablet device. Continue reading
Hispanic Women Use Social Media to Connect with Friends, Brands, and Media
US Hispanic women prefer social media to connect to friends, family, brands, and the media. Hispanics more trusting of social media than other demographic groups.
Hispanics display higher trust in social media than other groups
According to recent Latina Media Ventures study, US Hispanic women prefer social media sites as a way of keeping up with friends and family. Yet, they also rely upon social networking sites to stay informed on news events and connect with brands. Profiling Hispanic women who were active on social media sites, the study provided insight into the social media habits of the study participants.
The research revealed that 80% of Hispanic females used social media to keep in touch with friends and family members. Yet, the survey also revealed commercial aspects of social media use among Hispanic women. Of those who used their social media accounts to follow brands, 82% expressed the interest of receiving coupons and discounts an their motivation. Moreover, 77% expressed that social media sites were an important source of product and service information. Further, the survey revealed that social media served a critical role in helping respondents stay on top of current events. Almost 80% of the study participants expressed an interest in obtaining information on current events, while 70% used social media to find information on a movie or TV programming. Continue reading