Small Business & the Economy - Why You Should Support Local Businesses

Small Business & the Economy – Why You Should Support Local Businesses

Small businesses are the lifeblood of the economy. While large corporations and enterprises get the most attention and generally have the widest reach on a macro-level, it’s small businesses that keep economies and communities thriving.

Too often, these small businesses and their importance are overlooked by consumers, marketers, and advertisers. They may not have the resources to be at the top of online searches, follow you around the internet with perfectly targeted display ads or appear out of nowhere on your social feed just when you’re thinking of making a purchase. Or to have perfectly placed billboards and bus signs to entice you to detour through their drive-through. And they are incredibly unlikely to have the funds to appear during prime time TV shows.

That’s why it’s so important for these small businesses to get support from their community.

What is National Mom and Pop Business Owners Day?

March 29th is National Mom and Pop Business Owners Day – a US-based initiative held each year to honour small business owners and their dedication, focus, long hours, and hard work.

Small businesses were first referred to as “Mom and Pop” stores in North America in the 1800s, and they became very common from the 1880s. National Mom and Pop Business Owners Day was founded in 1939 by Rick and Margie Segel, to honour their parents who owned a very successful hattery.

There are now more than 30 million small businesses in the USA alone; many small businesses are family-operated, handed down from one generation to the next, while others are original start-ups from scratch. All need ongoing local support from loyal customers to thrive and succeed as it takes a lot of proverbial (and often literal) blood, sweat and tears to be a small business owner. To plan, build and grow a small business, then keep it profitable requires non-stop hard work. And in 2021, this initiative means even more – after a year of a global pandemic that has challenged all businesses, especially small businesses, like never before.

How Can You Support this Initiative?

Support small businesses by:

  • Shopping locally and buying locally produced goods.
  • Being a repeat, loyal customer.
  • Giving friends and family gift cards from your preferred small businesses.
  • Telling your friends and family about the small businesses you love – word of mouth recommendations are powerful!
  • Referring to friends.
  • Following your favourite small businesses on social media and sharing their content.
  • Writing positive reviews for your favourite businesses – not only will you make someone’s day, but leaving reviews online can also impact how prominently a business appears on search engines, social media or directory sites as the algorithms increasingly take reviews into account.

Why is Small Business So Important?

Small and medium enterprises (SMEs) are massive growth drivers for the economy, making them crucial in modern society. In fact, all around the world, economies would collapse without the support of SMEs. For example, in the US you can thank “mom and pop” businesses for the creation of almost two-thirds of new employment opportunities across the nation.

Furthermore, small businesses:

  • Support their local communities, schools and charities
  • Localise the shopping experience for customers
  • Bring fresh ideas to the marketplace
  • Provide an appealing point of difference for consumers

Think about your own experiences…

  • the pleasure of eating at a farm-to-table style restaurant where produce is of the freshest quality
  • owning one of a kind pieces of furniture that will last decades, which you bought from a local designer
  • being able to talk to the people who grew your fruits and vegetables, baked the bread, hand-knitted your throw rugs, carved your dining table, stitched together that unique dress, etc.

Small business owners are usually passionate and have a wealth of knowledge about their product that they’re happy to share. Which makes for a refreshing change from mass-produced items or overly processed and preservative-laden foods.

Marketing Solutions for Small Businesses

Marketing for small businesses

Through clever, appropriate marketing channels including bulk SMS solutions, email marketing, and postcard marketing, even sole traders can get the message out to the right consumers at the right time to help their business thrive – and this benefits the community and the economy at large.

Why SMS is Perfectly Suited for Small Businesses

SMS marketing and email marketing are ideal ways for small businesses to get the word out to consumers, especially their target audience. The majority of consumers prefer that businesses interact with them via SMS, and welcome SMS marketing content from their favourite brands:

  • 50% of survey respondents purchase as a result of receiving an SMS from a retailer.
  • Conversions for sales prospects who receive text messages are boosted by 40%.
  • Mobile offers are redeemed tenfold more than print offers.
  • 84% of small business owners see positive results both immediately and in the longer term when they invest in SMS solutions.

SMS marketing is cost-effective, personalised, simple, and convenient. Open rates exceed 98% and, with more than 3.6 billion mobile users and more than 7 billion mobile subscriptions worldwide, there is no better way to reach consumers than via text message marketing. The channel is immediate, direct, and responses can be simplified using shortcodes. SMS integration with other channels is easy as well, and you can benefit through increased customer engagement, seeking feedback, and monitoring and tracking data to improve your marketing strategy in the future.

Email Marketing for Small Business

Another valuable asset for small business, email marketing may not elicit the same response rates as SMS marketing, but it still delivers an impressive return on investment when used appropriately. It is one of the best strategies a small business can use to generate results while complying with a strict marketing budget.

Through clever email marketing, small businesses can:

  • Strengthen customer relationships
  • Inform and engage via newsletters
  • Develop their unique brand
  • Create authority through shareable, expert content
  • Build business credibility and trust
  • Save time through bulk email
  • Increase sales

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If you’re a small business owner, we love your work! If you need support in your business communications, let’s chat – just open a live chat any time of day.

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