As the pandemic drags on, small businesses are both optimistic and cautious about what lies ahead. A survey by Bluehost finds that small businesses are resilient and adaptable, despite the global pandemic. The survey also shows the leading concerns for small businesses. But ultimately, the concern of securing new customers is predominant.
Out of 500 small business owners surveyed, 44% said securing new customers is their biggest concern. Lingering economic impacts from Covid-19 is a common worry among small businesses, with 30% citing it as their most pressing concern. 21% said lower sales and lower consumer demand will be their leading challenge in 2021.
Importance of Online Presence
With more people shopping online more than ever, small businesses are recognising the importance of having a strong digital presence.
The findings of the survey reiterate the value for small businesses to adapt to the new business climates and consumer demands. 69% of those surveyed said the pandemic has led to increasing online marketing efforts. 54% of businesses reported a boost in web traffic since the start of the lockdowns.
Suhaib Zaheer, SVP and General Manager of Bluehost, described the challenges small businesses have been up against as “unparalleled.”
“The small business community has faced unparalleled challenges in the wake of Covid-19 pandemic and their response speaks volumes to the resilience of small businesses. In an increasingly digital era accelerated by the pandemic, small business owners are adapting their business strategies to focus on online marketing efforts.”
Digital Presence for Communication
The survey also shows how the pandemic has highlighted the value of having a digital presence for communication purposes. The survey asked small business owners what changes they would be making to nurture better methods of digital communication with customers.
45% said they plan to include social media links on their website. 42% of small businesses are going to update the wording or language of their website. Making a website more mobile-friendly is also high on the agenda, with 40% of participants cited this as a priority. Just less than 40% of small business owners said they plan to redesign their website.
Online Store as a Route to Success
With the health crisis taking a heavy toll on physical shopping, small businesses are recognizing the need to sell online. 92% of the survey’s participants reported that it was important to be able to sell their products online. Almost half of the small businesses (48%) said they had implemented an online store within the past year. Just under a third of small businesses believed their revenue would come from online avenues in 2021.
Bluehost’s survey confirms there are challenges ahead for small businesses. However, the responses show that by prioritizing digital marketing and ecommerce, small businesses will be in a better position to ride the storm.
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Source: SmallBizTrends