Powerful Tools for Small Business Success
A survey conducted by small business online directory and community Manta, together with IT systems maker Dell, has revealed that the most powerful tool for success for small companies nowadays is social media.
Among the 3,000 Manta community members surveyed, 41 percent believed that websites like Facebook and Twitter play an important role in driving a business towards success. Meanwhile, 32 percent considered mobile devices as promising technology for small businesses, followed by cloud computing (10 percent), and wearable technology and 3D printing (4 percent each).
Not surprisingly, the survey revealed an insight which justifies why social media ranks first in being an excellent way to make a business successful. According to the study, 36 percent of the respondents listed welcoming back repeat customers as their most important business milestone. Social media plays a vital role in this because it allows brands to facilitate personalized communications. Moreover, it also fosters customer engagements and helps in delivering on-target promotions.
The other milestones that the participants have listed are first year profitability (14 percent), awards and recognition (10 percent), opening or expanding new location (10 percent), and first sale (10 percent).
Finally, the study has also shown some of the factors that motivate small business owners in their venture. Of the 2,000 people polled, 57 percent said that their best incentive is following a lifelong dream or scoring a personal achievement. This was followed by money and the stability that comes along with it (37 percent), giving back to the community (12 percent), attracting great customers (10 percent), and gaining recognition from peers (1 percent).