I ran into a guy I hadn’t seen for a while at the airport in Sydney and we got to talking about what we had been up to since we last saw each other.
He was working on enterprise social for large Australian businesses. His agency provides training, guidelines and very impressive data insights. He and his team go into Australian boardrooms and stun executives with real-time insights into what their customers are actually saying. His team is smart and they have smart tech. They are helping enterprises successfully manage the transition from the old-world to being social businesses.
I explained what we were doing at Spotzer and I noticed that when I mentioned we were focused on helping small to medium businesses be successful and grow by providing them with managed digital marketing services, I saw his eyes glaze over.
For some people, SMB’s are not seen as cutting edge. The thinking goes that enterprises have the smarts, the budgets and all the glory. Small business is seen as a bit mediocre, not where the action is.
I see it a bit differently and love small business. Here are 5 reasons why:
1. Small businesses drive the economy
Big business might make the front pages of the financial news media, but small business drives the Australian economy. According to the Australian Bureau of Statistic, small business in Australia employs 4.5 million people, which is 43% of all private sector employment. Small businesses also account for a third of all production.
Given the scale of small businesses in the economy, when they grow, the entire economy grows, across a diverse range of industries.
2. Small businesses innovate
Innovation drives competition, opens up new markets and drives economic growth. According to the ABS, almost 90% of businesses engaging in innovative activity are small businesses. Access to new technologies is making it easier for small businesses to innovate and challenge formerly dominant incumbents.
Generally, more competition benefits consumers. The more large and small businesses have to compete to offer value to consumers the more value is distributed throughout the economy. Streaming video services are a great example of competition benefiting the consumer, as is the proliferation of mobile payment vendors, which has made it easier and more affordable for businesses of all sizes to accept payments whilst on the go.
3. Small businesses adopt technology
While just over 60% of all Australian businesses have a website, small businesses are enthusiastic adopters of new technologies. They just have to work. Mobile phones experienced massive growth in Australia among small business, giving Australia one of the highest number of smart phones per capita in the world.
Small business adopts technology, but it needs to provide an immediate benefit. With tight cashflow and margins, any investment needs to have a genuine return on investment. At Spotzer, we work to make sure all out products provide real value.
4. There’s no bull with small business
Running a small business is hard. There’s no time for committee meetings and three-month alignment programs. A small business will tell you straight out whether a digital marketing program has effectively grown their business.
This means any offer, pitch or marketing communication needs to offer genuine value and not bulls**t. We’ve had to make some hard decisions about our products because customers have given us very clear feedback. At Spotzer, we gather feedback from our customers on a daily basis and continually work to improve the value we are delivering. Our customers expect nothing less.