The folks at SalesConx.com sent me the results of the survey they conducted last year. They surveyed 700 small business owners to see how entrepreneurs look at client relationships, to determine the lead generation strategies and how to grow the business using the Internet’s networking features.
Some of the findings of their survey are:
- Referral and word of mouth account for nearly 50% of all new business for surveyed small business owners, however, only 9% are using online lead generation.
- While Facebook has 50 million users and LinkedIn has 14 million users, only 11% of survey respondents noted that they belong to either of these communities. 79% of the participants belong to no social or professional network.
- While 22% of respondents note that they are adding 1 to 3 new clients annually, it is surprising that 11% of small business owners are adding more than 100 new clients per year. This statistic indicates that while lead generation and new client acquisition is NOT a priority of almost one third of small business owners, it is very much a factor for approximately 20% of small business owners who add at least 50 new clients annually.
The main finding of the survey is that “most small business owners rely on new business to drive revenue, but shy away from trying new marketing tactics.” I’m not surprised about the finding as I see it all the time. Many small business owners are reticient in shaking up their marketing strategies, even if they see that the strategy is not working as well.
In retrospect, Facebook, Myspace and LinkedIn are all social networking platforms for individuals not businesses. I just signed up for a new business networking platform called Handyherman that allows customers to search the business profiles. This could change things?
In retrospect, Facebook, Myspace and LinkedIn are all social networking platforms for individuals not businesses. I just signed up for a new business networking platform called Handyherman that allows customers to search the business profiles. This could change things?
The most powerful is word-of-mouth. There is a great book called On the Grapevine – or something to that effect about how information is passed down the vine about a product in ways that you would never image. What is important is getting your product mentioned on the grapevine. Ideas for this can include releasing a limited number of free copies to people and have a content on your site. There are many ays to get on the vine, just make sure you make it a positive reason.
The most powerful is word-of-mouth. There is a great book called On the Grapevine – or something to that effect about how information is passed down the vine about a product in ways that you would never image. What is important is getting your product mentioned on the grapevine. Ideas for this can include releasing a limited number of free copies to people and have a content on your site. There are many ays to get on the vine, just make sure you make it a positive reason.
Well,this article is good enough for the people who are curious to know about these things.your survey is really appreciable as it requires great efforts.
Well,this article is good enough for the people who are curious to know about these things.your survey is really appreciable as it requires great efforts.
Hi,
Your research is good. It is true that word of mouth is the more important than other ones.
It is an effective communication way to handle and target audience. Grapevine is also an important and effective source as like word of mouth. According to your surveys for small and large businesses, it is more clear to understand that what is the importance of word of mouth in business.
Hi,
Your research is good. It is true that word of mouth is the more important than other ones.
It is an effective communication way to handle and target audience. Grapevine is also an important and effective source as like word of mouth. According to your surveys for small and large businesses, it is more clear to understand that what is the importance of word of mouth in business.