In spite of a growing interest in social networking, online
transacting and using a Web page to promote their operations, the
majority of small business owners still don’t consider use of the
Internet as mandatory in running a small business in America today,
according to research from Discover.
“Over the last three years we’ve seen a steady increase in the
number of entrepreneurs who are going online to promote and grow
their businesses, but the Web has yet to become a must-have tool
for everyone,” said Ryan Scully, director of Discover Business
card, which commissions monthly research by Rasmussen Reports.
“While traditional methods for marketing and advertising a small
business still work, Web resources are starting to make a
difference for a significant number of entrepreneurs when it comes
to fining new business leads.”
Discover has been tracking the business concerns and economic
confidence of America’s 22 million small businesses since 2006, and
some key trends are emerging with regard to online resources.
“My Business Will Never Need a Web Site”
The number of small businesses with their own Web sites has
grown 36 percent in the past two years, but still fewer than half
of owners have one. The number of small businesses that have Web
sites grew from 33 percent in November 2007 to 45 percent in August
2009.
Forty-six percent of small business owners said it is a myth
that every company should have a Web site, 44 percent felt the
opposite and 10 percent were not sure. Consumers seem to agree.
While 46 percent of them say that they expect every business will
have a Web site, another 37 percent don’t think every company needs
one. The remaining 17 percent weren’t sure.
“Just because a small business doesn’t have a Web site, doesn’t
mean it can’t be found on the Internet,” Scully said. “Most
telephone listing services give their business customers some kind
of online option, which means a search engine can probably find a
phone number or address for most of the businesses you’re looking
for.”
When asked to choose from a list the biggest reason why they
don’t have a Web site, 41 percent of small business owners said
that their business doesn’t need one, 19 percent indicated “cost,”
16 percent chose “not enough time to monitor and manage,”10 percent
selected “some other reason,” 9 percent said “complexity,” and 1
percent answered “not sure.”
The remaining 4 percent had no doubt: They chose the option: “My
business will never need a Web site.”
“That’s not so hard to believe,” Scully said. “Many corner
markets, drycleaners, bakeries and other mom-and-pop operations
have enough neighborhood foot traffic that they really don’t need
the Internet to turn a profit, even if it might contribute to one,
but the need isn’t 100 percent. On the other hand, I’ll bet 99.9
percent of them have a phone.”
Social Networking and New Business Leads
Small business owners are increasingly leveraging online tools
and resources to connect with customers and generate new business
leads.
The number of small business owners who are part of a popular
online social networking site has jumped from 22 percent in October
2007 to 40 percent in April 2009, and 40 percent of small business
owners said this year that they have used e-mail to promote their
businesses.
Nearly half of all owners said that they have used social
networking sites to promote their businesses, and nearly a third of
those owners said the biggest benefit of using these sites is
getting new business leads.
As for consumers of small business products and services, 47
percent say they are more likely to use a business or a service if
it has a web site and 43 percent would consider using a business
that they heard about on a social networking group.
Data was collected as part of the monthly Discover Small
Business Watch poll of 750 random small business owners with less
than five employees. Consumer data is from a random sample of 3,000
users of small businesses. The survey of business owners has a
margin of error of plus or minus 3.8 percentage points; the margin
of error for consumer data is plus or minus 1.8 percentage
points.
The views and opinions expressed by small business owners and
consumers who participate in the Small Business Watch survey are
their own and do not necessarily reflect those of Discover
Financial Services or its affiliates.
DATA
Small Business Owners (Random sample: 750)
1. Is it a myth that “every” business needs a Web site? (August
2009) 46% Yes 44% No 10% Not sure 2. Does your business have
a Web site? (August 2009 – November 2007) 45% – Yes – 33 % 54% – No
– 65 % 1% – Not sure – 2 % 3. What is the biggest reason why
you don’t have a Web site? (August 2009) 41% My business doesn’t
need one 19% Cost 16% Not enough time to monitor and manage 9%
Complexity 4% My business will never need one 10% Some other reason
1% Not sure 4. Have you ever used e-mail to promote your
business? (April 2009) 40% Yes 58% No 1% Not sure 5a. Are
you a member of any online social networking community such as
Facebook, Linked-In, My Space or Twitter? (April 2009) 38% Yes 62%
No 0% Not sure 5a.i Are you a member of a popular,
general-interest online community? (October 2007) 22% Yes 78% No
5b. [answered by those who said yes to 5a. ] Have you ever
used social networking sites to promote your business? (April 2009)
45% Yes 55% No 0% Not sure 5c. [answered by those who said
yes to 5.a] What is the biggest benefit to your business of being
part of an online networking community? (April 2009) 32% Getting
new business leads 26% Not benefited at all 18% Benefited in other
ways 17% Getting business tips 2% Getting new suppliers 2% Getting
new employees 3% Not sure
Consumers (Random sample: 3,000)
6. Do you expect every business, small or large, to eventually have
a web site? (September 2009) 46% Yes 37% No 17% Not sure 7.
Are you more likely or less likely to use a small business that has
a web site? (September 2009) 47% More likely 17% Less likely 34% It
would have no impact 3% Not sure 8. Would you consider using
a service or small business that you heard about on a social or
business networking site? (September 2009 – October 2007) 43% – Yes
– 31% 32% – No –55% 26% – Not sure – 14%
About the Small Business Watch
The Discover Small Business Watch is a monthly index measuring
the relative economic confidence of U.S. small business owners who
have less than five employees, a segment that consists of 22
million businesses producing more than a trillion dollars in annual
receipts. The Watch is based on a national random survey of 750
small business owners. It is commissioned by Discover Business
card, which strives to offer the best business credit card for
American small businesses, and is conducted by Rasmussen Reports,
LLC (www.rasmussenreports.com), an independent survey research
firm. The numeric index is calculated by assigning values to
responses to a set of six consistent questions. The base value of
the Watch was established at 100.0 based on surveys conducted in
August 2006. In addition to generating the index, the Small
Business Watch surveys small business owners every month on
key issues, and polls 3,000 consumers four times per year to gauge
purchasing behavior and attitudes towards small businesses. For
past results and survey data, visit
www.discovercard.com/business/watch. For information on Discover
Business card, visit www.discovercard.com/business.
About Discover
Discover Financial Services (NYSE: DFS) is a leading credit card
issuer and electronic payment services company with one of the most
recognized brands in U.S. financial services. Since its inception
in 1986, the company has become one of the largest card issuers in
the United States. The company operates the Discover card,
America's cash rewards pioneer, and offers student and personal
loans, as well as savings products such as certificates of deposit
and money market accounts. Its payments businesses consist of
Discover Network, with millions of merchant and cash access
locations; PULSE, one of the nation's leading ATM/debit networks;
and Diners Club International, a global payments network with
acceptance in 185 countries and territories. For more information,
visit www.discoverfinancial.com.
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