New research from business management solutions provider MYOB has found nearly two thirds (64 per cent) of Aussie SMEs don’t have their own website – and that the remaining 36 per cent that do have websites are enjoying greater success.
The March 2012 MYOB Business Monitor report has found that SMEs without a website are missing out on higher revenue, better sales conversion and a greater number of customer leads – benefits enjoyed by those SMEs that do have an online presence. MYOB found that businesses with a website also had more sales in their pipeline and were more positive about the economy’s future.
Surprisingly, the report found that the proportion of SMEs that currently have websites has actually declined slightly, down to 36 per cent from 38 per cent in October 2011 and 39 per cent in March 2011. MYOB says this may be due to the increased use of social media for business, which rose to 25 per cent in the latest report, up from 22 per cent a year ago.
MYOB CEO Tim Reed says it’s equally surprising that both the proportion of SMEs with a website has not risen in the past year, and the proportion of those using social media for business has increased only slightly.
“All business owners should consider creating their own website and improve their chances of success in an increasingly digital economy,” Reed opines. “Our research shows that in doing so they‘re more likely to improve their business performance across customer acquisition, revenue and more.
“Being an effective online player is not about having a complicated website; it's about enabling your business to be found. With around two thirds of consumers searching the internet before making a purchase decision, if a business has no online presence it’s denying itself some serious firepower.
“Getting online is a key strategy for attracting new customers, building customer loyalty, creating new revenue streams and increasing your visibility, credibility and competitive edge. The results are clear – building an online presence is a business move that should be a strategic imperative for most operators.”
MYOB’s March 2012 report also found that SMEs with a website were more likely to:
- See their revenue increase in the past 12 months: 27 per cent versus 17 per cent of those without.
- Have more sales than usual in their three-month pipeline: 37 per cent versus 27 per cent.
- Expect their revenue to rise in the next year: 42 per cent versus 24 per cent.
- Intend to increase staff numbers this year: 25 per cent versus nine per cent.
- Intend to expand the number of overseas markets they work in: 16 per cent versus five per cent.
- Expect the economy to improve within 12 months: 26 per cent versus 16 per cent.
- Be satisfied with Federal Government support: 15 per cent versus 10 per cent.
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