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Tuesday, February 22, 2011

Study Outlines the Importance of a Website to Your Business

Posted by @ 8:08 pm

Recent research findings released by MYOB indicate that only 35% of Australian small businesses have a website. Do you fall into this category?

I have to admit this statistics took me by surprise. I guess by being so involved in online marketing, I assumed that a lot more businesses had a website to promote to potential and existing customers.

There is good news for businesses that do have a website: 30% reported their revenue had increased in the past 12 months, compared with 23% of businesses without a website. Also, you will face less competition (than I anticipated) when marketing your site on Google and other online areas.

The MYOB Business Monitor report also produced the following insights:

  • Businesses established for more than 10 years are less likely to have a website (25%) than maturing (32%) or new (36%) businesses.
  • Businesses in manufacturing and wholesale are most likely to have a website (49%), followed by finance and insurance / retail and hospitality (45%) and business, professional and property (37%).
  • Businesses in agriculture, forestry and fishing (19%) and in construction and trades (23%) are least likely to have a website.
  • Over half (57%) of business owners agree with the statement ‘the Internet is a critical channel for marketing and promoting our business’.
  • Nearly half (44%) of businesses agree that they would sell more and get more work if they used the internet better for marketing.
  • Nearly a quarter (24%) of businesses monitor competitive activity on the Internet.

If you wish read MYOB Business Monitor report in its entirety, a PDF can be downloaded here.

While this study was conducted on Australian small businesses, I expect that the results would be very similar for USA, Canada and the UK.

MYOB CEO, Tim Reed sums up the situation:

We’re witnessing a major shift in Australian buyer behaviour from in-store tyre kicking to savvy online bargain hunters. The market is changing and we encourage business owners to act to make the most of the new conditions, because their competitors are no longer just in their local area.

So, if you don’t have a website, then what are you waiting for? It’s time to find yourself a web developer and get cracking.

Courtney Mills Courtney is an online marketing and communications specialist at ineedhits - a leading search engine marketing firm with over 16 years experience. Courtney has been living and breathing online marketing for over 5 years. She specializes in web and communication marketing, while providing news and opinion to online marketing communities.

View Courtney Mills's profile

Discussion (4 - comments)

[...] Click Here To Read Original Post on SEO | SEM News [...]

By Study Outlines the Importance of a Website to Your Business « Miami Beach Web Designer - February 22, 2011

Whilst I do agree with the assertion that almost every business needs to be online (far too few are) and that it shouldn’t cost the Earth to do so … I also feel it prudent to remind business owners that you generally get what you pay for with “free” template business websites.

It’s a little like saying that you can run your business finances using an Excel spreadsheet (I did for a year or so as a single-operator myself). Sure you can, but MYOB’s 1 Million plus customers realise that this isn’t the best way to do things either.

Same thing with the “free” websites being offered here and other places … They will get your business online just fine but they may not represent your brand/business very well or you may outgrow them quite quickly.

Don’t be afraid to try the free stuff though … and if/when it becomes necessary then look for a more professional solution to suit your needs.

A simple small-business website built by a professional who takes the time to understand your needs often costs somewhere in the $1K to $2K range. That’s a good price to pay for a good branding and marketing tool.

I had this conversation with MYOB’s Tim Reed and Tony Palmer from C4 a couple of weeks ago on Sky News Business channel’s “Technology Behind Business”.

We all have slightly different points of view but there might be some good ideas in it that are appropriate to your small business, if you have a few minutes to watch the discussion.

By Ian Exaudi (Creative Intersection) - March 4, 2011

[...] Study Outlines The Importance of a Website to Your Business [...]

By Why Do I Need a Website? – Digital Brand Marketing Education - January 12, 2012

[...] Study Outlines The Importance of a Website to Your Business [...]

By MARKETING BYTES BLOG | The MARKETING BYTES Website and Blog | Solutions 4 Local Biz - March 4, 2012

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