Findings also indicate most shoppers do not realize the impact of holiday spending at SMBs
WALTHAM, Mass., Nov. 1, 2023 /PRNewswire/ -- Today, Constant Contact, a digital marketing and automation platform that has helped millions of small businesses and nonprofits globally, issued a special holiday edition of its Small Business Now report. The study evaluates how critical the final three months of the year are to the financial success of small businesses (SMBs), as well as the value of consumer holiday spending and the tactics small businesses are using to drive sales.
Constant Contact's study indicates that the holiday season is more vital to small businesses than most shoppers realize. Half of SMBs say holiday sales account for at least 25 percent of their annual revenue, but only one-third of consumers realize the substantial impact their seasonal spending has on these businesses. The stakes are even higher for SMBs in the retail industry, as they are twice as likely to rely on the holiday period for at least 50 percent of their annual revenue. This disconnect underscores the importance of forging strong customer relationships, and it presents an opportunity for SMBs to better communicate the importance of shopping small during the holiday season.
"The holiday period is a crucial time of year for small businesses as they work overtime to attract new customers, hit revenue goals and plan for the year ahead," said Laura Goldberg, chief marketing officer at Constant Contact. "Our latest Small Business Now report quantifies the impact holiday shopping has on small businesses, and it also reveals opportunities where they can tweak their marketing strategies to activate Q4 customers in the new year. Constant Contact is a trusted partner to small businesses around the world, and we will continue to fuel their success with powerful marketing tools to help them deliver more engaging content, meet year-end objectives, and turn holiday shoppers into repeat customers."
The pressure is on for small businesses during the holiday season:
Small businesses rely heavily on fourth quarter sales to meet revenue goals for the year, especially those in the retail sector.
Most consumers do not realize the impact their holiday spending has on SMBs:
Small businesses say customer support plays a vital role in their success, yet consumers may be undervaluing the impact of their holiday shopping.
The holiday season is a time for growth:
Attracting new customers is the single biggest goal for most small businesses as they enter the final months of the year, and shoppers are open to being courted.
New Year, new opportunities:
Most small businesses do not have an effective marketing strategy to nurture, retain and convert their holiday customers in the new year, and it could be holding back their growth.
Learn more about the findings from the holiday edition of Constant Contact's Small Business Now report here.
Study Methodology:
Constant Contact's study analyzes insights from 500 small business decision-makers in the United States at the Director+ level, and 500 U.S. consumers aged 18+. For the purposes of this study, "the holiday season" is defined as falling within the standard Q4 period of October-December. All statistics are representative of their associated demographics. The survey was conducted by Ascend2 in September 2023.
About Constant Contact
Constant Contact delivers everything small businesses and nonprofits need to build, grow and succeed. With powerful online marketing tools, contact management and sales features, and innovative AI capabilities, Constant Contact makes it easy to attract the right people, engage more customers, close more deals and grow.
SOURCE Constant Contact
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