Small Business is our Business

Archive for June, 2013

Privacy Not A Problem for Millennials

  Fifty percent(50%)of millennials(ages 18-34) would share personal information with a company if they received something in return.   A recent survey conducted by the University of Southern California’s Annenberg Center for the Digital Future found that millennials have distinct differences in their online behavior  compared to other Americans.  Some of the survey findings include:

*56% would share personal information to receive coupons from businesses—- versus 42% of those 35 and older

*25% would trade personal information in exchange for relevant advertising—–versus  19% of 35 and old

This willingness of millennials to share personal information  opens endless  opportunities for businesses to target market this group.

Source:  2012 annual survey at the Center for the Digital Future.

Challenges For Home-Based Businesses Owners

Home-based small business owners have alot of distractions.  To get work done seventy-eight percent (78%) say they have a place “to hide” to avoid distractions.  Where to they hide?  The most common places are their bedroom (45%), the yard (16%), basement (15%), or the garage(12%).  Work often leads to arguments between partners. The top two reasons couples argue:  work cluttering all over the house(32%), and the inability  to separate personal life from professional life(30%).  Other temptations while working at home include:

Internet browsing     39%

TV                                  16%

Family interuptions    16%

Sleeping In                    12%

Snacking                        10%

This survey was conducted by Wakefield Research for Carbonite, Inc., a provider of cloud backup services,  earlier this year.

SOCIAL MEDIA A WASTE OF TIME?

Sixty-one percent of small businesses do not see any return on investment on their social media activities. Yet they keep posting away. Why? According to a recent survey conducted by Manta, a social network for small businesses, thirty-six percent(36%) of these small businesses want to acquire and engage new customers, nineteen percent(19%) want leads and referrals, and seventeen percent(17%) want to boost their company’s presence. Facebook was  cited as the hardest to maintain social media platform.  For some of these small businesses,  maybe a website or blog is sufficient.  Or possibly referrals through customers are the best marketing tools.

CROWDFUNDING ON A ROLL

Crowdfunding websites helped companies and individuals globally raise $2.7 billion in 2012—–an 81% increase from 2011. North America accounts for the majority of this activity—-$1.6 billion .  Massolution , a research and advisory firm specializing in crowdfunding, estimates there are 813 crowdfunding platforms worldwide , either already active or about to be launched.  With the passage of  the Jumpstart our Business Startups(JOBS) Act passed in 2012, crowdfunding has taken off.  Massolution anticpates $5.1billion will be raised in 2013, with a greater shift towards funding start-up businesses and small firms  rather than social projects, which are currently the most popular category.

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