I recently saw someone wearing the t-shirt that read “Well behaved women seldom make history”. That’s a quote that has been around since the mid 70’s but every time I see it, I think about all of the risk-takers, leap-makers and persistent-in-spite-of-fear people I’ve known over the years. They are a special breed and I like to think of myself as a member of that club. One characteristic of people in this crowd is that they are starters more often than joiners. When they see a problem, an opportunity or a gap, they don’t wait for someone else to solve it. They are entrepreneurs at heart.
We have built Soar Marketing with them in mind. At our core, we are rooting for the risk takers and market disruptors. With the explosion of digital life over the past 20 years, many of the resources that could help small and mid-sized businesses (SMB’s) compete were only available to larger more established businesses that have large budgets and big marketing teams. So not only are you taking the risk to start a venture, but the cards are stacked against your success. That’s a big factor in why more than 50% of new ventures fail in the first 5 years.
Why do we love SMB’s?
Small Businesses power the American economy and fuels the American Dream; the dream that everyone should have an equal opportunity to achieve success and prosperity through hard work, determination, and initiative.
According to Entrepreneur Magazine, there are between 25 million and 27 million small businesses in the U.S. that account for 60 to 80 percent of all U.S. jobs. And, a recent study by Paychex, says that small businesses produce 13 times more patents than larger firms.
Just think what could happen to our unemployment rate--as well as our GDP--if every small business grew enough this year to hire just one additional person. A job would be created for each of the 13 million or so who are currently unemployed, and we'd have to find other new hires for the remaining 12 million companies.
One of the many things SMB leaders today have to navigate is the proper use and impact of digital marketing on the success of their business. The influence of technology in our society today is astounding with smartphone (not just mobile phone) penetration in the United States at 72% of the population today estimated to rise to 81% in just four years.
Over the past few decades, we have all seen the power of mobile technology for good and for bad as it has affected society. We are more connected than ever, we have more data at our fingertips than in any other time in human history and in some ways these little devices have created social ills that we are just beginning to address. As a parent I struggle to find the balance of the influence of mobile technology on my teenage kids but as a business owner can intuitively see the power of reaching the right audience where they live: on their devices.
Unfortunately, digital marketing is an area of extreme complexity and rapid change. Google alone makes 500-600 changes to its algorithm annually or an average of 1.5 changes per day! How are business owner supposed to keep up with that rate of change?
The impact of positive or negative ratings and reviews on your small business is critical as well. Did you know that positive comments from customers or clients produce an average increase in sales of 18 percent and that consumers are likely to spend 31 percent more because of positive reviews?
Conversely, 22 percent of consumers won’t buy your product or service after reading just one negative review and four or more bad comments can take up to 70 percent of a business’s potential customers away. What is a small business owner to do? Go learn HTML as Forbes suggests?
Navigating the complexity of digital marketing can be daunting, overly complicated, fraught with guessing and stumbling over the right place to focus your messaging… and expensive. Costly not only at the expense of the actual marketing itself but what if you’re wrong? What if the money spent was spent in the wrong place or wrong way?
This future for small businesses can be pretty bleak.
At Soar Marketing, we have a dream of a different solution. One that empowers small businesses to take flight and soar. Every small business should not only have access to tools that power digital marketing, but those tools should be simple and easy to use. Getting your message out in the right way to the right people at the right time that creates a connection with your dream fueled by your product or service.
The Soar Marketing WHY is you.