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Fixed Contact’s Small Enterprise Now report reveals 9 in 10 Canadian small companies have felt the impacts of inflation this yr as they put together to enter their most important gross sales interval

TORONTO, Sept. 17, 2024 /PRNewswire/ — Constant Contact, a digital advertising and marketing and automation platform that has helped hundreds of thousands of small companies and nonprofits globally, right this moment introduced its newest Small Business Now report. That includes insights from small companies (SMBs) and shoppers throughout Canada, the findings point out that an unsure economic system and shifting shopper behaviours are placing stress on SMBs as they try to profit from the yr’s remaining quarter.

Whereas inflation has cooled from document highs, its longtail influence continues to be being felt by each SMBs and their prospects. Fixed Contact’s Small Enterprise Now report reveals that 90 per cent of Canadian SMBs surveyed have been impacted by inflation, and over half (56 per cent) of Canadian shoppers have decreased their spending at small companies this yr as a consequence of inflationary pressures. With 32 per cent of SMBs citing they really feel probably the most stress to drive income for his or her companies in This autumn, bettering their advertising and marketing methods to account for these challenges can be important to their success this vacation season.

“Small companies are extremely resilient, however as they head into a vacation season crammed with uncertainty, they have to get proactive of their advertising and marketing to make sure success,” stated Sarah Jordan, chief advertising and marketing officer at Fixed Contact. “Our examine reveals that regardless of inflation, buyers nonetheless wish to assist small companies, so the SMBs who thrive would be the ones who begin their vacation advertising and marketing early, streamline their work with automations, and have interaction prospects persistently all through the season.”

Regardless of the criticality of the season, SMBs are falling brief of their advertising and marketing efforts

Regardless of the heightened deal with hitting gross sales and income targets in the course of the vacation season, findings of the Small Enterprise Now report recommend that SMBs are struggling to beat limitations in advertising and marketing their companies successfully in the course of the fourth quarter. Moreover, SMBs who’re investing time and assets into advertising and marketing are discovering themselves unable to confidently assess the effectiveness of their methods.

• 72 per cent of SMBs cite price range and/or time limitations as the largest limitations to advertising and marketing their companies in the course of the vacation season.
• 59 per cent of SMBs who measure their advertising and marketing effectiveness really feel unsure that their vacation technique was efficient in 2023.
• Practically one-third (31 per cent) of SMBs didn’t launch any promotions in the course of the end-of- yr/vacation season in 2023.
• Near 1 in 4 (24 per cent) SMBs didn’t do any vacation advertising and marketing in any respect in 2023.

Small advertising and marketing tweaks will help SMBs entice buyers and overcome financial headwinds

Luckily, small companies aiming to capitalize on shopper intent and insulate themselves from financial uncertainty this vacation season can take small however efficient measures to finish the yr on a excessive observe. Sensible ideas and recommendation for SMBs embrace:

• Begin early – October is taken into account the unofficial begin to the vacation season and based on the newest Small Enterprise Now report, it is also when the most important share of Canadian SMBs (18 per cent) start their vacation preparations. Switching into vacation mode earlier within the yr will help SMBs get forward of the push and stand out from the competitors, particularly contemplating that 56 per cent of shoppers’ curiosity in interacting with small companies will increase in the course of the vacation season.
• Incorporate vacation themes into current campaigns – 43 per cent of SMBs are within the behavior of tweaking current campaigns and/or messages to include end-of-year/vacation themes as a substitute of performing full and dear overhauls of their advertising and marketing campaigns.
• Think about promotions – Reductions and gross sales gives are the varieties of promotions 36 per cent of Canadian SMBs discover only for driving income. That is additional validated by the 61 per cent of shoppers who’re inspired to purchase from a small enterprise in the course of the holidays by aggressive pricing and gross sales.
• Focus your efforts – In 2023, SMBs cited attempting to do too many issues directly as the largest mistake of their end-of-year/vacation season advertising and marketing. This yr, greater than half (51 per cent) of SMBs plan to prioritize electronic mail advertising and marketing and social media advertising and marketing as the highest areas believed to have the largest influence on reaching their end-of-year/vacation season objectives.

Famend Canadian know-how skilled and entrepreneur Marc Saltzman underscores the significance of getting prospects via the door at small companies – particularly in the course of the busiest quarter of the yr. “Canadians have an affinity for small companies – it is the spine of our economic system, in reality – and naturally we wish to rally round them in the course of the vacation season as we’re checking objects off our reward lists,” stated Saltzman. “My recommendation to small companies heading into this era is to deal with making small changes that can assist drive extra site visitors to their companies. I typically see the largest influence come from the smallest tweaks, whether or not it is attempting out a brand new know-how instrument or service, leveraging knowledge to make customer-focused choices, or refining final yr’s advertising and marketing technique based mostly on what labored effectively.”

To study extra concerning the findings from Fixed Contact’s Small Enterprise Now, download the report.

Research Methodology:
Constant Contact‘s Small Enterprise Now report analyzes insights from over 300 small enterprise decision-makers in Canada employed at firms with 250 staff or much less. All stats are consultant of their related demographics. It additionally combines knowledge from over 500 shoppers aged 18+ in Canada. The survey was carried out by Ascend2 Research in August 2024.

About Fixed Contact
Constant Contact makes digital advertising and marketing simple and efficient for small companies and nonprofits around the globe. Whether or not simply beginning out, or managing complicated multi-channel campaigns, SMBs profit from our highly effective SaaS platform that delivers a simplified advertising and marketing expertise with much less time spent and higher outcomes. With cutting-edge know-how, best-in-class deliverability and award-winning buyer assist, we assist the small stand tall.