When we saw a survey of small businesses asking owners/operators what they’d like most as a holiday gift for the 2012 business year that said 61% want to make more sales, we thought, “Well, duhhhhh.” However, the TD Bank study noted that many of them know they need to be proactive about it, with reinvigorated marketing efforts.
TD Bank says it operates from Maine to Florida (that’s the I-95 corridor to those of us in the East) and it talked to 300 small businesses in its area of operation.
Only 1% are most interested in personal gain, a very altruistic attitude, especially when juxtaposed with the 11% that wished to increase compensation for employees. 13% wanted to pay down debt, 6% were looking to invest in equipment or software, 5% wanted to bring in more employees and 4% wanted a bigger facility.
The good news is that the businesses are going into the year fully aware that it will take more than wishing to make their goals into a reality. To that end, over a fourth – 26% — are going to focus on increased sales and marketing efforts. Other tactics include paying down debt (22%), improving cash flow (16%), better planning (13%), maintaining or adding staff (9%), working shorter hours (8%) and delegating more responsibility (6%).
“With economic pressures likely to continue in 2012, it will be more important than ever for small businesses to find creative ways to grow sales and keep a close eye on cash flow,” said Fred Graziano, Head of Regional Commercial Banking, Government Banking and Small Business.
RBR-TVBR observation: If a business wants to increase sales, it needs to do something to drive traffic through its doors and to its website – and that’s where broadcasters fit into the equation. If you can help a small business design a locally-focused, effective and affordable campaign, you will both be winners.