There has been quite the surge of growth for the local business industry, and the reasoning behind this revolves around the support of consumer demand, as well as business interest. Small and medium-sized businesses aren’t something to scoff at, as they are the backbone of the economy. Businesses with fewer than 20 employees make up 90% of all employer businesses and produce $4 trillion in sales receipt. This information comes from the U.S. Census Bureau’s most recent data back in 2012.
Although a great chunk of the economy is supported by these SMBs, it’s really their future growth that has marketers taking notice. There was a reported released by Yodle called, “Yodle Insights: What Consumers Want from Local Businesses.” In this survey, more than 6,000 consumers were questioned.
Accoding to Yodle’s survey, here’s what was found:
- 82% of consumers in the US are using local businesses more than national chains
- 47% of consumers say they used local business more this year than last year
- 48% were planning to use local businesses even more over the next 12 months.
- A paltry 1-2% said they would use local businesses less.
The information obtained from the Yodle survey on what consumers want from local business is an important and key factor to understanding how SMBs can take advantage of this opportunity and market themselves in the areas that they are strong in.
Interestingly, the study results brought to light that 42% of consumers are using online reviews or social media to research a business online. There seems to be a significant overlap and synergy among various media as consumers seek, discover and consider products and services.
Because of this unique competitive advantage that SMBs have over large brands, there are ways you can leverage them into an effective search strategy. Wesley Young analyzed Yodle’s study and came up with some strategies that should be part of your overall search marketing toolbox.
Check out Wesley’s strategies in his Search Engine Land post called, 5 Ways To Use What Consumers Want To Boost Local SEO Strategy!