66% of small businesses in the U.S. say they’re expecting to grow significantly within the next year. Why all the optimism? We surveyed entrepreneurs and executives to find out the strategies, tactics, and market factors at play that are giving rise to all this confidence. Here’s a snapshot of what we found.
Across industries (professional services, retail, manufacturing, and more), there’s two main drivers that companies believe will spur expansion: new customer acquisition (70%) and retention/up-selling of their existing base (64%).
What tactics are companies leveraging to do this? Heavy investments in integrated marketing and customer service upgrades top the list, including market research to keep tabs on the evolving behaviors and preferences of their customers — and the competition. Included in that is an increased focus on seamless cross-channel outreach (think social, email, mobile) to customers and prospects alike, striving towards the cutting-edge experience that consumers have come to expect, especially from breakout start-ups and small businesses.
To drill into the specifics of how companies are applying these cross-channel techniques to deepen their customer relationships and drive growth, check out our interactive guide: The Quest for Growth 2016.