The challenges that small business owners face are well documented, but marketing remains a critical goal for many. In the ShopKeep Small Business Pulse Report: 2018, 32% of respondents said they wanted to improve their marketing. The report highlights the increased awareness among small business owners of their digital presence and the marketing efforts needed to maintain it.
For example, 57% of respondents to the survey said they relied on their website and blogs to run their businesses, while 44% considered social media to be an essential tool. A smaller percentage of 12% reported using influencers regularly to develop their business.
Although there are high rates of digital adoption, ShopKeep has revealed that small brick and mortar business owners are not yet fully on board. For example, only 23% of respondents indicated that the development of an e-commerce component was a key business goal for their business. This contradicts the general consensus that businesses want to move all or part of their business online.
In an article published on the official ShopKeep blog, CEO Michael DeSimone highlights this contradiction as it was born from the adoption of mobile payments. DeSimone explains, "There is still a lot of confusion in the marketplace with respect to digital wallets and mobile payments. In ShopKeep Small Business Pulse, 43% of small business owners said that they do not even offer mobile wallet options to their customers. "
Despite the fact that 25,000 small businesses on the ShopKeep platform are equipped to accept mobile payments. DeSimone adds: "We believe that improving education, as well as adding incentives such as establishing links between mobile payments and a loyalty program, could be very helpful. measures that will promote the adoption of technology. "
2018 ShopKeep Small Business Survey
ShopKeep surveyed more than 1,700 small business owners with at least one brick-and-mortar store in various segments in the United States and Canada in February 2018. Retail trade accounted for 50% of respondents, 21 % restaurants or service bars 8% and hybrid or other businesses 21%.
Regarding the size of the business, 50% of respondents have at least 1 to 3 full-time employees and 25% have more than 4 full-time employees.
The key points of the investigation
In terms of challenges, 49% of business owners said that maintaining profitability was at the top of the list. Marketing and customer acquisition was a problem for 39%, while 37% said managing their inventory was also a challenge. With such a tight labor market, hiring and managing quality employees was also a problem for 34% of respondents.
Questions on the adoption of mobile payments revealed a mixture of mixed results. Only 24% of respondents said they saw a slight increase in the use of mobile payments in the past two years. But the vast majority or 68% said that he remained basically the same. That's a lot less than what business owners were expecting when ShopKeep measured enthusiasm for mobile payments in 2016. At that time, small businesses were waiting for that Mobile payments account for 50% of their customers' purchases by 2018.
Today, the survey reveals that mobile payment accounts represent less than 25% of the means of payment for 56% of respondents. Another 43% said that they do not offer mobile payments. And on the other extreme, less than 2% of business owners said that mobile payments accounted for 25 to 100% of transactions made by their customers.
You can take a look at the infographic below for the rest of the survey data on the ShopKeep business pulse of this year.
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