New Study Reveals Urgent Need for Training and Tools to Boost Online Sales
- Small retail businesses lack understanding of digital marketing and social media management
- Only 29.2% of businesses spend more than five hours a week on social media compared to 79.1% of consumers spending over seven hours
- 43.1% of surveyed businesses make over a quarter of their sales online
- 65.6% of businesses are interested in accessing support/training for digital skills
- Only 16.6% use social media management tools
- Most businesses do not spend money on social media advertising (72.3%)
- Consumers use social media to research and chat about purchases, but businesses are not present in those conversations
A new study by social media specialist Maybe* reveals that small retail businesses in the UK lack understanding of digital marketing and social media management. Only 29.2% of businesses with social media accounts spend more than five hours a week managing them, despite 43.1% making over a quarter of their sales online. The study found that 65.6% of respondents are interested in accessing support/training to improve digital skills for growth. To address this gap, Maybe* is working with local authorities on UKCRF projects and sharing data to inform Shared Prosperity Fund (SPF) initiatives.
Factuality Level: 8
Factuality Justification: The article is based on a study conducted by Maybe* and provides data-driven insights into small businesses’ lack of understanding and utilization of digital marketing and social media. It includes statistics from the research, quotes from the CEO of Maybe*, and highlights the need for training and support to bridge the gap between consumers and businesses. The article is informative and objective, with no clear signs of sensationalism or personal opinion presented as fact.
Noise Level: 6
Noise Justification: The article provides relevant information about a study on small retail businesses’ lack of understanding and utilization of digital marketing and social media. It highlights the disconnect between consumer behavior and business practices, and offers insights into the demand for training and support in this area. However, it contains some promotional language for Maybe* and focuses heavily on their White Paper without delving deeper into the broader implications or alternative perspectives.
Financial Relevance: Yes
Financial Markets Impacted: Small retail businesses and digital marketing companies
Financial Rating Justification: The article discusses the lack of understanding of digital marketing among small retail businesses, which can impact their sales and growth. This affects financial markets as it highlights a potential opportunity for digital marketing companies to provide training and support to these businesses to improve their online presence and increase sales. Additionally, it mentions that most businesses do not spend money on social media advertising, indicating the potential for growth in this area.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: The article discusses the challenges small retail businesses face regarding digital marketing and social media engagement, but it does not report on any extreme events that occurred in the last 48 hours.·
www.retailsector.co.uk