Home – New Forums Marketing mastery MYOB Report… Doom & Gloom OR Hallelujah?

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  • #979519
    Warren Cottis
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    I’m a glass half full sort of guy so for me everything below is Hallelujah!

    I encourage everyone in our community to really focus on your marketing and to constantly test, measure and change it as needed. If you do you will leave the poor buggers in the story below eating your dust… it’s not a time to pull back.

    Quote – A national survey of Australian small businesses has found many have recently reduced their online activities, including online transactions.

    The findings are surprising, but are consistent with other survey results showing more small business reporting falling than rising revenues.

    MYOB chief executive officer – Tim Reed said that the result was unexpected, particularly because the survey also showed an increase in the number of small businesses running their own website.

    The company’s July 2012 Business Monitor survey of 1,004 small and medium sized businesses (SME’s) found the proportion with a business website rose slightly in the past few months, from 36% in March 2012 to 38%.

    However, it also discovered online business activity – including online transactions, email marketing and social media – was in decline.

    “The decline in popularity of online business activities was completely unexpected, particularly that of online marketing and social media. Many of these tools, such as a basic LinkedIn page, are free and can be used to raise the profile of a business and to communicate with customers ” said Reed.

    “We also found more business operators are experiencing revenue falls than are experiencing rises, and the majority lack confidence in a short term economic recovery. I suspect this has seen many shy away from online activities as they focus on the health of their business….”

    MYOB’s June 2012 survey showed less than one quarter (24%) of SMEs used search engines to promote their business, down from nearly one third (31%) in March 2012.

    Social media activity such as connecting with consumers via Facebook, YouTube or Google+ had also dwindled (15% versus 18%), as had networking on LinkedIn (13% versus 19%).

    For specifically ecommerce activities the results were similar.

    Comparing the June 2012 with the March 2012 survey results revealed the following declines:

    * Paying bills on suppliers’ websites: fell from 44% of respondents to 37%
    * Buying products/services online: fell from 37% to 24%
    * Using internet search engines to promote their business: fell from 31% to 24%
    * Accepting online payments from customers: fell from 25% to 19%

    Even so, Reed said that MYOB was pleased to see a slight increase in the number of small businesses with their own website.

    MYOB offers small businesses a Google website under its Getting Aussie Business Online programme free for the first 12 months. The company claims some 35,000 Australian businesses have taken up the offer. – End Quote

    #1114914
    MatthewKeath
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    Thanks for posting.

    There are about a million small business in Australia, so 1,004 is not exactly a huge sample size.

    I suspect this has seen many shy away from online activities as they focus on the health of their business

    He suspects? Might have been a good question to ask the small businesses. Often when work is quieter spending on marketing increases. It would be a rare business that says, hmm, getting a little slow, better pull back the marketing!

    the proportion with a business website rose slightly in the past few months, from 36% in March 2012 to 38%.

    Awesome news for web professionals. Still so much untapped market.

    #1114915
    Greg_M
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    MatthewKeath, post: 128851 wrote:
    Awesome news for web professionals. Still so much untapped market.

    I’d agree, an untapped market in many way’s, just surprises me (if the figures are a true reflection) that business seems to be resisting the inevitable.

    Never really looked because I didn’t need convincing but is there readily available stats or case studies (reputable sources) showing a clear ROI for smaller businesses in Australia.

    Crap IT literacy could be part of the issue among older business owners.

    From a business point of view, I’d love to be 30 again, I reckon it’s a complicated but very exiting time, full of opportunity.

    #1114916
    John C.
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    Maybe it’s just that the people who succeed in online businesses have moved away from MYOB in flocks because it’s such a woeful product, so their sample of business owners is representative of people who are less inclined to persist with an online presence.

    From what I’ve seen of business owners and accountants, the ones who stick with MYOB are usually the ones who have a real fear of change. Not a good quality, I would guess, for being successful in the fast-changing world of the internet.

    I’d love to see the same study done by a cloud based accounting product like XERO or SaSSU and see how the results compare. Better yet, a survey of all business owners by someone like the ATO.

    Cheers,
    John

    #1114917
    nominal
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    Unexpected results indeed.

    It is true that if you survey Xero, SaaSU or even Nominal’s customers you will get a very different crowd but they are the exception not the rule. I believe 1000 businesses is probably representing of the “truth”

    We all live, work, interact and breath online so it is probably very hard for us to avoid the “curse of knowledge” but most businesses are not the same. I tried to convince my barber to simply add his business to Google Maps, he is smack in the center of Sydney CBD and this can make wonders but he would not hear about it.

    There are many other types of businesses that are all about their physical presence and it probably does not make a lot of sense for them to spend money or other resource online.

    Not sure how much ‘untapped’ market there is, 38% sounds like a very high number, it is never going to be 100% or even close to it.

    #1114918
    MatthewKeath
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    nominal, post: 128924 wrote:
    Not sure how much ‘untapped’ market there is, 38% sounds like a very high number, it is never going to be 100% or even close to it.I don’t think it’s unreasonable to suggest that small businesses with a website will get up to 55% – 65% in the next 10 years. Which is a lot of businesses.

    Businesses with a shop front are still missing out if they don’t have an online presence.

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