Attracting and retaining clients will be top of the list of small business priorities when company owners plan their New Year’s resolutions for 2017. New GetApp research says more than half of small business owners value customer attraction and retention as their number one priority.
With small business uncertainty at a 42 year high, there couldn’t be a more pertinent time for small businesses to decide on their biggest priorities for the near future. We polled SMB owners to ask them what their company’s biggest priority is. 58% said attracting and retain clients was their number one interest.
The second most important concern, according to the survey was to reduce costs, with 13% of respondents saying this was their top priority. The next most popular choice in the list of small business priorities was improving business software and IT infrastructure (selected by 8% of respondents), which was more highly valued than getting paid faster, tracking workflow better, and reducing time spent on admin.
Key findings of the Small Business Priorities survey
- 57.6% of small businesses say that attracting and retaining clients is the biggest priority for their business.
- Reducing costs is the main priority for 12.6% of businesses.
- For 7.8% of businesses, improving software and IT infrastructure is their leading priority.
- Getting paid faster/speeding up the invoicing process is a priority for 6.6% of surveyed businesses.
Details of the research:
Answers to the question: “Which of the following is the biggest priority for your business?”
#1. Attract and retain clients – 57.6%
#2. Reduce costs – 12.6%
#3. Improve software and IT infrastructure – 7.8%
#4. Get paid faster/speed up invoicing – 6.6%
#5. Track workflow better – 6%
#6. Reduce time spent on admin – 6%
#7. Other – 3.5%
Demographics: Over 500 US-based respondents from a panel of SMBs (small and medium-sized businesses). Respondents are aged between 25 and 54 and have an average inferred annual income of $24k – $150k. This research was devised in collaboration with Loc8.
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