july 2019 smb trivia...© borrell associates, 2019 # retail trade 23 health care & social...

© Borrell Associates, 2019

July 2019SMB Trivia


HighlightsJuly 2019 Panel Survey

➢ This was the second time we’ve tried an atypical survey format, structuring questions around marketing facts and tidbits found online.

➢ After each question we provided the answer we found. And we provided a PDF at the end of the ‘survey’ to share our sources.

➢ Within this document you’ll find out which questions were answered correctly most/least often, and see the visuals and sources we shared in the survey itself.

➢ The first time we tried this format 95% rated the survey as “interesting”. This one returned an interesting rating of 85%, which is still above average, but a bit off the original mark. We’ll keep trying!

➢ No one got all the questions correct. But, four people answered 5 of 7 correct – Ashley in FL, Melissa in CA, Tom in IL, and Sarah in NY.

➢ On average, people answered 2 of 7 questions correctly.

➢ Master marketers were more likely to know that positive reviews have a greater impact than negative reviews.

➢ Thank you for participating!


1More consumers agree that “Positive reviews make me more likely to use a business” than “Negative reviews make me not want to use a business.”

Source: https://www.brightlocal.com/research/local-consumer-review-survey/

42% Correct!

2 Q. What portion of the U.S. population listens to at least one podcast per month?

A. 32%40% Correct!

Adults 25-34 are the largest segments of listeners. And contrary to popular belief, the #1 place where podcasts are listened to is in the home, not in the car. fewer than one in four (22%) listen in the car.

Source: https://musicoomph.com/podcast-statistics/

4 Q. What percentage of Americans do not use the internet? A. 10%Groups that are likely not to use the internet include Adults 65+, those with less than a high school education, groups with household incomes under $30,000, and those who live in rural areas.

Source: https://www.pewresearch.org/fact-tank/2019/04/22/some-americans-dont-use-the-internet-who-are-they/

Master marketers were more likely to get this one right

68% of consumer are influenced by positive reviews while only 40% are dissuaded by negative reviews.

Q. Where do you think most people listen to podcasts?

A. In the home

3Only 8% Correct

26% Correct!


550%

Correct!

Source: http://blog.influence.co/instag

ram-influencer-rates/

Q. The average price for one post from an influencer with between 25K-50K followers…

A. Between $100-499 ($185)

The price stayed below $200 per post for those

with less than $50K followers, but shot up to

$1405 to buy a sponsored post from an

influencer with more than a million followers.

Q. The category with the highest rates per sponsored post…

A. Travel (at an average of $220 per post)

6 15% Correct!


724%

Correct! Loyalty programs are popular with consumers – 78% surveyed said they are more likely to choose a business that offers a loyalty program over one that doesn’t. However, they are not widespread among SMBs. Grocers are the most likely to have a program (50% of them do) – but most retailers do not. Interestingly, 85% of the SMBs that DO offer a loyalty program claim it has a “big impact” on repeat business.

Source: https://s7d2.scene7.com/is/content/bankofamericamerchant/bams/small-business/2018/pdfs/Digital_Transformation_of_SMBs.pdf

Q. Out of every ten small to medium businesses (SMBs), how many do you think offer a loyalty program?

A. Two


Master marketers were more likely to say they do this well

Web.com published a list of “10 Inexpensive Marketing Ideas for Small Business Owners to Take Flight”. We asked the SMB Panel which ideas they’ve leveraged.

Source: https://www.eb.com/blog/grow/lead-generation/inexpensive-marketing-ideas-small-business-owners?trkID=CNTjsKka9W

41%

33%

17%

14%

14%

12%

6%

22%

29%

32%

33%

22%

14%

19%

27%

18%

18%

28%

27%

33%

33%

42%

46%

48%

36%

34%

38%

8%

10%

17%

19%

19%

24%

32%

33%

39%

41%

Co-market with complementary small businesses

Promote your expertise – guest blog, or speak on topics within your expertise

Work your network by connecting with othersmall business owners and doing PR

Create useful content like videos, blogs, socialmedia posts, white papers and more

Get listed on ratings and review websites

Get listed in local search directories

Tap into social media to share content, build yournetwork, advertise, and listen to customers

Promote your website at every opportunity

Optimize your website for search engines

Get involved in your community

Don’t Know

Have not

done

Need to improve

Doing/ Done this

Doing this well

Get involved in your community

Optimize your website for search engines

Promote your website at every opportunity

Tap into social media to share content, build your network, advertise, and listen to customers

Get listed in local search directories

Create useful content like videos, blogs, social media posts, white papers and more

Get listed on ratings and review websites

Work your network by connecting with other small business owners and doing PR

Promote your expertise – guest blog, or speak on topics within your expertise

Co-market with complementary small businesses

More than one in four see opportunity to improve their website promotion, presence on review sites, professional networking, and expertise communication


#

Retail Trade 23

Health Care & Social Assistance 20

Arts, Entertainment, Recreation 18

Media/Adv 13

Services 12

Construction/Contracting 9

Professional/Biz Services 9

Orgs: Religious, Civil, Civil 9

Other 34

Top Industries of Respondents

Location of Respondents(darker bubble indicates more responses from that area)

7/30-8/8/2019

147 Completed Surveys

The Survey Experience%

Interesting 86%

Easy to understand 83%

Short 68%

Device Used%

Mobile/Tablet 6%

Desktop 94%

SURVEY STATS

Marketing Expertise%

Novice 44%

Mid-Level 27%

Master 29%

july 2019 smb trivia...© borrell associates, 2019 # retail trade 23 health care & social...

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