80% of Small Business Owners Don’t Take What They Hear & Read about You at Face Value
Availability of information is truly affecting the way small business owners research, assess, and, ultimately, make purchases for their businesses. Today, the influx of new sources is both overwhelming – forcing owners to confirm everything – and, at the same time, empowering.
As suppliers to small businesses, you’re likely making every effort to have your product or brand resonate with them to build awareness and be seeded in their consideration set. However, last week’s ECSB survey of more than 1000 owners revealed that nearly 80% verify what they hear and read. So, where exactly are they going to validate, confirm, and check up on you? It turns out that while nearly half of those who verify product or marketing information go directly back to the supplier, the other half place more faith in third-party sources.
Source: ECSB, Jan 2011, n=1076
Although the need for validation isn’t entirely new, the motivations, degree, and means through which small business owners are doing so are. You, the supplier, are still a source of confirmation, but where else are they going to perform that second screen? The litany of traditional and emerging third party sources is making our marketing strategies much more challenging as a result. Join ECSB at our Executive Roundtable meeting series in March to learn and discuss how to respond accordingly.