(Chandler, Ariz.– Jan. 21, 2021) Keap, the leader in sales and marketing automation software for small businesses, today announced the release of its annual Small Business Trends Report. In this year’s report, Keap surveyed 600 entrepreneurs to understand how COVID-19 and the economic downturn impacted small business marketing, sales and technology adoption. Nearly half significantly overhauled their business operations and many migrated services online, with 85% reporting changes in how they acquire leads.
“When the pandemic hit and all my events were canceled, I had to re-imagine my marketing strategy and pivot to virtual events,” said Evan Paquette, managing member of New York-based small business Magic Evan. “Since then, I’ve performed over 300 virtual events and brought joy, connection, and wonder to families all around the world. I’m on track to have the most profitable year yet.”
Despite the challenges of 2020, small business optimism is high. Of the respondents, 85% reported strong confidence about their ability to adapt and survive in 2021. Technology use is on the rise as more small businesses rely on virtual events, video conferencing, email marketing and social media to acquire and serve customers virtually.
“We always look forward to unpacking the results of this research, but were especially curious about the findings this year,” said Clate Mask, Keap’s co-founder and CEO. “Our report echoes the grit and optimism that we’ve always applauded within the entrepreneurial community. Business owners have weathered the many storms of the global pandemic and all the economic uncertainty that’s come with it. Entrepreneurs will always find ways to survive.”
Key takeaways from the report include:
Small businesses optimism in 2021
- 85% are confident about their survival this year
- 39% felt a positive impact on their businesses in 2020
- 17% started new businesses last year
- More than a third of companies surveyed had an average of 10% growth in 2020, but some had 100% growth or more
Entrepreneurs adopt new technology
- 41% overhauling business operations
- Video conferencing adoption increased 65%
- Entrepreneurs increased adoption of email marketing (45%), CRM (43%) and social media (43%)
To learn more and read the full report, please visit: https://keap.com/big-grit
Keap is on a mission to simplify growth for millions of small businesses. For 17 years, Keap has helped small businesses get organized so they can deliver great service and grow sales. The company pioneered CRM and marketing automation software for small business and today serves more than 125,0000 users globally with its Keap Grow, Keap Pro and Infusionsoft products. Headquartered in Chandler, Arizona, the company is funded by Goldman Sachs, Bain Capital Ventures, Mohr Davidow Ventures, and Signal Peak Ventures. For more information, visit keap.com or connect with us on Facebook.