As we move into 2023, small businesses continue to face a multitude of challenges. From navigating the ever-changing landscape of technology and customer preferences to competing with larger, more established companies, small business owners must constantly adapt and evolve to thrive.
This report provides the latest data from our Local Pulse Report™ study. We’ve compiled insights from over 9,500 interviews with business owners to understand better the challenges they face, their expectations, and plans for 2023.
This 93-page research databook covers the following topics:
ECONOMIC & SALES OUTLOOKS
- SMALL BUSINESS ECONOMIC EXPECTATIONS
- SMALL BUSINESS SALES EXPECTATIONS
- SMALL BUSINESS LONG-TERM SUSTAINABILITY
- SMALL BUSINESS CONFIDENCE SCORES
- SMALL BUSINESS EMPLOYMENT CHANGES OVER THE NEXT 3 MONTHS
- TOP BUSINESS CHALLENGES MOVING FORWARD
- SMALL BUSINESS OPERATING CASH ON HAND
- SMALL BUSINESS PRODUCT AND SERVICE PRICING
- SMALL BUSINESS EXPECTED PRICE INCREASES
- SMALL BUSINESS CAPITAL EXPENDITURES OVER THE NEXT 12 MONTHS
- SMALL BUSINESS VIEWS ON THE ABILITY TO OBTAIN FINANCING
MARKETING & ADVERTISING PROGRAMS
- SMB MARKETING BUDGET CHANGES OVER THE NEXT 12 MONTHS
- SMB MARKETING BUDGET ALLOCATIONS
- AVERAGE NUMBER OF MEDIA TYPES USED BY SMBs
- AVERAGE ANNUAL MARKETING BUDGET BY BUSINESS SIZE
- 2023 SMALL BUSINESS MARKETING GOALS
- SMALL BUSINESS MEDIA MIX
- TRADITIONAL VS DIGITAL MEDIA SPEND OVER THE NEXT 12 MONTHS
- REASONS WHY SMBs ARE DECREASING MEDIA INVESTMENTS
- REASONS WHY SMBs ARE INCREASING MEDIA INVESTMENTS
- SMB PLANNED CHANGE IN MEDIA INVESTMENTS (20 MEDIA TYPES)
- SELECT DIGITAL MEDIA SMBs ARE INCREASING INVESTMENTS
- AVERAGE BUDGET INCREASES FOR SELECT DIGITAL MEDIA
PERFORMANCE & STRATEGIES
- MOST IMPORTANT FACTORS WHEN MEASURING AD PERFORMANCE
- HOW SMBs MEASURE MARKETING PERFORMANCE
- MOST EFFECTIVE MARKETING/PROMOTIONAL METHODS USED
WEBSITES
- WEBSITE PENETRATION BY SIZE OF BUSINESS
- REASONS WHY SMBs DO NOT HAVE A WEBSITE
- MEDIA SMBs PLAN TO START USING OVER THE NEXT 12 MONTHS
- WEBSITE MANAGEMENT BY SIZE OF BUSINESS
- WEBSITE UPDATES BY BUSINESS SIZE
- SMALL BUSINESS MOBILE STRATEGIES
- SMALL BUSINESS WEBSITES WITH ECOMMERCE CAPABILITIES
- SMALL BUSINESS WEBSITE UPGRADES OVER THE PAST 12 MONTHS
- SMALL BUSINESS LIKELIHOOD UPGRADE THEIR WEBSITES IN 2023
- SMALL BUSINESS WEBSITE PRIORITIES FOR 2023
- SMALL BUSINESS SATISFACTION WITH CURRENT PROVIDER
SOCIAL MEDIA
- SMALL BUSINESS SOCIAL MEDIA USAGE
- SOCIAL MEDIA SMALL BUSINESSES USE FOR MARKETING/PROMOTION
- SMALL BUSINESS EXPECTATIONS WHEN USING SOCIAL MEDIA
- SMBs THAT DON’T USE SOCIAL MEDIA BY TENURE
- MEDIA SMBs PLAN TO START USING OVER THE NEXT 12 MONTHS
- SMALL BUSINESS CHALLENGES WITH SOCIAL MEDIA
- HOW SMALL BUSINESSES MEASURE THE SUCCESS OF SOCIAL MEDIA
- SMALL BUSINESS SOCIAL MEDIA MONITORING
- MOST EFFECTIVE SOCIAL MEDIA CHANNELS, ACCORDING TO BUSINESS OWNERS
- TOP MARKETING AREAS SMBs NEED HELP WITH
- SMALL BUSINESS SATISFACTION WITH SOCIAL MEDIA PROVIDERS
RATINGS & REVIEWS
- SMALL BUSINESSES THAT USE RATINGS & REVIEWS
- BUSINESS IMPACT OF USING ONLINE REVIEWS
- SMALL BUSINESSES THAT CLAIM FREE LISTINGS
- SMALL BUSINESS RESPONSE TO NEGATIVE REVIEWS
TECHNOLOGY ADOPTION
- SMALL BUSINESS ADOPTION OF ONLINE SOLUTIONS
- AREAS SMALL BUSINESSES HAVE ADOPTED ONLINE SOLUTIONS
- REASONS WHY SMBs ADOPTED ONLINE SOLUTIONS OVER THE PAST 12 MONTHS
- TECHNOLOGY SMBs HAVE UPGRADED OR ADOPTED OVER THE PAST 12 MONTHS
- IMPORTANCE OF ADOPTING SOFTWARE-AS-A-SERVICE (SAAS) OR OTHER CLOUD-BASED SERVICES TO SUPPORT BUSINESS GOALS
- REASONS WHY SMBs HAVE NOT UPGRADED OR ADOPTED TECHNOLOGY
- BENEFITS OF UPGRADING OR ADOPTING NEW TECHNOLOGY
- TOP AREAS SMBs PLAN TO UPGRADE OR ADOPT NEW TECHNOLOGY IN 2023
SALES PARTNERSHIPS
- BIGGEST CHALLENGES SMBs HAVE WITH DIGITAL MEDIA
- THINGS THAT WOULD MAKE SMBs WANT TO TRY A NEW DIGITAL SOLUTION
- IMPORTANCE OF HAVING A SALES REP VISIT IN PERSON
- IDEAL SALES REP CONTACT FREQUENCY FOR SMBs
- IDEAL COMMUNICATION METHOD BY SALES REPS FOR SMBs
- SMB PREFERENCE OF NUMBER OF PROVIDERS TO WORK WITH
- HOW SMBs LIKE TO PURCHASE DIGITAL PRODUCTS/SERVICES
- PREFERRED MODEL OF SELECTING DIGITAL PRODUCTS/SERVICES
FUTURE OUTLOOKS
- AREAS THAT SMBs THINK WILL HAVE THE BIGGEST IMPACT ON THEIR BUSINESSES OVER THE NEXT 2-3 YEARS
- TECHNOLOGY / SERVICES SMBs PLAN TO START USING OVER THE NEXT 12 MONTHS
- TOP AREAS SMBs NEED HELP WITH IN 2023