An all-in-one marketing platform for small businesses, Mailchimp has just released a new report called “How small businesses are finding new ways to grow”. Software Focus is pleased to provide a wrap-up of the report for our readers.
Mailchimp created this report to help you overcome uncertainty and succeed. They analyzed billions of data points from marketing activities on the Mailchimp platform and dug deeper into 1,400 small businesses in 6 countries to understand how entrepreneurs are driving growth and customer engagement during these challenging times.
Small businesses have had to adjust the way they do business and reach customers. In its Report, Mailchimp outlines 5 strategies for the new normal, namely:
1. Adaptation comes in many different forms
Companies around the world have changed their operating models and marketing strategies in many ways over the past year.
In the charts below, you can see how the 1,400 SMEs surveyed responded to the survey.
But here are some high-level trends:
- In Brazil, small and medium-sized businesses are much more likely to expand their online business or learn new types of marketing.
- Small and medium-sized enterprises in France and Germany have made fewer changes to their business strategies or operations as a whole compared to those in other countries.
- In the United States, small and medium-sized businesses are significantly more likely to spend time organizing parts of their business that may have previously been of lower priority.
2. More businesses are embracing more tools
As they explore new paths to success during the pandemic, many small and medium-sized businesses are using a broader range of marketing tools to help them achieve this. Mailchimp data shows that the more a brand is affected by COVID, the more marketing channels it will use to promote its business and sell its products.
3. Not all marketing tools are created equal
Among businesses that have reported being hit hard by the pandemic, some marketing tactics have proven more popular than others. These small and medium-sized businesses reported using lead generation forms and custom signup forms and automated brand development tools significantly more frequently than their less affected counterparts.
4. The only constant is change
As the effects of the pandemic in the United States spread through the end of 2020, business strategies have adapted to keep up. Based on a survey of US small and medium-sized enterprises, companies are more likely to change their offerings or business models as the pandemic continued.
5. Building brand awareness is a top priority for small businesses around the world
Many SMBs got creative in the wake of COVID-19
While the turmoil has created uncertainty, it has also opened doors for new marketing strategies and ways of doing business. Like many other companies, small businesses on the Mailchimp platform have turned to online commerce in huge numbers. In the broadest sense, its 14 million users collectively generated $61 billion in online sales from their customers in 2020.
The analysis of monthly active e-commerce users connected to Mailchimp shows that online revenues for these companies are growing as more consumers go digital. By the end of 2020, sales from merchants connected to online stores were up 61% compared to 2019.
There are a few things worth highlighting besides the numbers.
1. Small business in general is getting better and better earning income online.
2. Online revenue growth for small businesses on our platform is happening across a range of industries.
3. The pandemic pivot is giving way to enduring reinvention
As small businesses shift the focus from surviving a pandemic to their long-term future, rapid experimentation leads to more sustainable marketing strategies. The skyrocketing growth in Mailchimp’s 14 million active users at the start of the pandemic across many marketing channels is a sign that they are bouncing back.
Having identified and analyzed different small business trends, Mailchimp has put together a list of recommendations on what small businesses should do now to succeed in the near future.
4 steps to get your business online quickly
1. Get your own domain name.
To put it simply, your domain is how people will find you online. If you already have a company name, try registering it as your domain. Once you’ve come up with a brand name, making it your own is as quick as typing a few parameters into the search box and purchasing an available name.
2. Choose a website builder.
Use a free website builder to create and publish a professional website. Some of the basic elements of a website include customizing the page layout, theme, and color palette. Customizable layouts let you edit your company information, upload a logo, add images, and launch.
3. Create your content.
For many people, the most difficult thing is to write about themselves, their business, products or services. Start by filling out important details like your company name, contact information, opening hours, and a general description of what you have to offer. Learning the basics can help you find your voice. Don’t be afraid to look like a literary genius – just describe what you sell and how it helps people.
4. Start selling your stuff.
Selling your products or services through your website is done in just a few clicks. Using a marketing platform that allows you to add integration with a payment processor like Stripe will make your life easier.
To learn more, proceed to the Mailchimp Report.
Stay tuned with Software Focus!