Yesterday marked the start of National Small Business Week and today we are unveiling the results of our Small Business Technology Impact Study. Time Warner Cable Business Class conducted an online survey of over 800 U.S. consumers, about why they frequent small businesses, and how small business owners can connect with them more effectively.
For fast analysis of the results, check out our interview with Ramon Ray, Editor of “Smart Hustle Magazine“, and take a look at the top takeaways from the survey below.
A Business Website is Essential
If you own a small business, you must have a website. Consider this, up to 50 percent of consumers surveyed (depending on vertical) told us they might not buy from a company that doesn’t have a website. 66 percent of millennials (age 18-34) specified that a website with relevant business information, such as hours, contact info, and product info, is a necessity.
Responding to Reviews on Social Media is Crucial
As a small business owner, if you don’t have the time or staff to manage social media channels, it is still important to respond to customer reviews online. Nearly one in five consumers surveyed won’t frequent small businesses that don’t respond to comments on review sites like Yelp.
Social Media Channels Matter More to Female Customers
If your target customer is a woman, social media channels matter. Nearly half (47 percent) of women surveyed said that regularly posting on Facebook is very effective at attracting or keeping them as customers, compared to 32 percent of men. Special offers and events are also more effective tactics for targeting women.
Security of Consumer Data is Paramount
Your customers absolutely need to be able to trust the businesses’ cyber security. 79 percent of consumers surveyed said it’s necessary for small businesses to take measures to keep their personal and financial data secure.