A study commissioned by online lender Prospa has revealed that while business owners name effective marketing that engages the customer as the most effective strategy for growing business, one in three reports struggling with implementation.
“Customers today expect to be able to interact with businesses of any size online, yet only half have a web presence and less than 40% use social media. In an increasingly digital Australian economy, it’s vital we equip small businesses with the right skills to grow,” explained Mark Bouris, founder and chairman of Yellow Brick Road.
He continued, “Adopting digital technologies doesn’t just improve productivity for small business owners, it can enhance customer engagement and open up new opportunities to increase revenue.”
The data also showed that 90% of small business owners work long hours to manage the many different aspects of their business.
“Many brokers are also small business owners, so they understand the pressures of wearing so many hats at once. A broker who runs his or her own firm is likely thinking about social media, bookkeeping and managing staff on a daily basis, in addition to helping their clients access funding,” said Prospa co-founder and joint CEO, Beau Bertoli.
“Digital marketing is becoming more and more important for brokers looking to grow their business, but many aren’t confident about their skills in this area. We provide our partners with simple, hassle-free tools and resources to help drive engagement with small business owners. These touchpoints can be great way for brokers to strengthen existing relationships and reach new prospects,” he added.