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More than 50% of Small Businesses Spend 5 or Less Hours on Marketing: Survey

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According to the Survey conducted by Outbound Engine, it has been revealed that 58% of small businesses don’t give the necessary time to marketing. The report titled, “Stress, Time & Growth: Factors Affecting Small Business Marketing in 2019”, the emphasis is laid on the complexity in today’s small ecosystem. And analyzing the marketing strategies of small businesses, the report points out that stress is the major factor which affects the amount of time small businesses spend on marketing its products or services.

Mark Pickren, the CEO of Outbound Engine, said that the marketing plays a vital role in boosting the growth of any business and it requires a lot of efforts to successfully promote products as well as services. However, Small Business Marketing Trends highlight that the lack of necessary knowledge and the budget to capitalize on marketing options are the two important factors which could be attributed to increasing the complexity in the small businesses environment. This, in turn, leads to an increase in stress in the ecosystem of small businesses.

The survey emphasizes that the lack of knowledge, finance, and talent are the major factors which have led to increasing the complexity of doing marketing in the small business environment. 28.5% of the small businessmen don’t have enough money, 22.39% don’t have sufficient time, and 14.25% attribute the inability to find the best marketing tactics as the reason for poor marketing of their business. Other than this, 11.96% don’t have the skilled staff and 2.80% are not aware of the customer base they need to target for the promotion of their products.

And major fact trending in the report shows that 54.45% spend only 5% or less of their revenue on marketing. Only 4.33% invest greater than 20% of their revenue on marketing. The more the spending on marketing, the more is the growth of small businesses, the survey results hinted.

The idea of Bigtime Daily landed this engineer cum journalist from a multi-national company to the digital avenue. Matthew brought life to this idea and rendered all that was necessary to create an interactive and attractive platform for the readers. Apart from managing the platform, he also contributes his expertise in business niche.

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Business

Analysis Paralysis: Determining How to Analyze Your Trading Decisions

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One of the most crucial parts of the process of being a day trader is the analysis, it is the part of the process that informs decision making for day traders regardless of what kind of trading they’re involved in, and it stands as one of the three main pillars of success. Thomas Yin details the two main ways in which analysis is handled in his book, Trading Secrets, explaining that both forms have different benefits and drawbacks and details how each function regarding trade.

The first type of analysis is fundamental analysis, which involves tracking the news and numbers. Fundamental analysis is a numbers game at heart. It’s tracking those numbers such as revenue, earnings, and profit and tracking ratios and using them to make predictions about future shifts in the market. Yin states that fundamental analysis isn’t necessarily the best way to track changes as it can be right; it’s merely a matter of when it’s right and when it isn’t. Therein lies the problem, the ability to be right is good, but it is almost as if you’re guessing when the fundamental analysis will work out in your favor.

The second type of analysis is technical analysis; Yin discusses that this kind of analysis leans into the idea of trade psychology. Technical analysis deals with tracking the fear and greed and using that to pinpoint and determine where and when the market will shift and by how much. Technical analysis works on the principle of looking at both historical and current price movements in the market to predict the future price movements and determine the existing trade conditions.

Unlike the fundamental analysis, technical analysis uses all past and current market information as a determining factor in how the market behaves and moves. In terms of the analysis, there is a great deal of visual representation in the form of charts and graphs that depict the information, trends, and future predictions easily, and while it might come off as complicated, it is quite the opposite. Yin makes a clear assurance otherwise, stating, “If technical analysis is complicated and hard, it will not work.” This kind of analysis must be kept simple to function appropriately as otherwise, it will cause more harm than good, but when it’s done right and kept simple, the probabilities tend to err more on the side of success for winning trades.

As a systematic market analysis is paramount to success in the market, understanding both of these forms of analysis is key to understanding how to succeed. The logistics of each form of analysis resides on the fact that analysis in the market is systematic. It isn’t merely one analysis, and then it’s done. It must be done systematically to keep up with the market trends and keep the success going. Mastering the market analysis is a deal-breaking element of success in the market, and learning it can lead to great success or tragic failure.

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