FedEx Kinko’s Survey Finds Small Businesses Concerned about Economy
Marketing, Advertising Spending to Remain the Same or Increase in 2008 as Result
FedEx Kinko’s, an operating company of FedEx Corp. (NYSE: FDX), today released the results of its national “Signs of the Times” small business survey, which found 89 percent of those small business owners polled were moderately to very concerned about the current economy’s impact on their business. Despite concerns, decreasing their marketing and advertising budgets is not a likely course of action. In fact, 92 percent of survey respondents say they will either keep their spending the same or increase it this year.
The online survey, conducted in March 2008 with nearly 500 small business owners and decision makers, identified significant trends specific to this important sector of the U.S. economy for the year. In addition to their concerns about the economy, 66 percent of those polled foresee flat or falling profits in 2008, but these companies are looking for ways to combat the tough economy in a cost-effective fashion. Moreover, 41 percent of responding businesses are considering an increase in spending on marketing and advertising initiatives this year.
“Strategic marketing tools provide the most efficient and cost-effective ways for small businesses to connect with prospects and stay connected to customers, especially during a challenging business environment,” says Jim Blasingame, small business expert and host of the nationally syndicated radio show “The Small Business Advocate®.” “Now more than ever, it’s critical that businesses maintain market visibility. Marketing budgets need to be deployed on projects and promotions that will both drive new traffic and remind existing customers why they should come back.”
Blasingame, who began counseling small businesses more than two decades ago, says that companies can be more efficient with their marketing budget by using a combination of traditional and referral marketing tools proven to increase customer traffic. Some of his top tips for cost-effective marketing include the following:
- Don’t overlook the basics. Remember that something as simple and relatively inexpensive as eye-catching signs grab attention and draw in new business.
- Target the right people. With a strategic prospect list, small businesses can use a direct mail offering to target just those customers likely to buy their products and services.
- Partner with other companies. Develop strategic alliances with other local, non-competitive businesses to cross-promote services in stores, mailings and special promotions.
- Network. Building relationships at business meetings and industry events cost nothing more than a little time, but can deliver big returns as a result. This kind of “word of mouth” marketing can be very powerful.
- Trust the experts. Since most small business owners are not naturally marketing savvy, they should find someone to help implement their plan. Working closely with outside professional resources like FedEx Kinko’s can produce professional and effective marketing materials and campaigns.
Blasingame says small businesses often underestimate the basic elements of a marketing program. Only 32 percent of survey respondents said they believe that signs, banners and posters help drive business and customer traffic. According to Blasingame, the lack of good signs inside and outside the walls of small businesses is a missed opportunity—especially for those with modest budgets.
Dedicated Resource Within Reach
For small businesses looking for help with their signs and other marketing challenges, FedEx Kinko’s has convenient locations throughout the country. Specially-trained in their craft, the sign and banner specialists at FedEx Kinko’s are eager to help. The company’s nationwide network of centers provides access to an extensive range of professional sign and banner services, including durable cut vinyl banners, full-color indoor and outdoor banners, prints, posters, plastic and metal signs, ready-to-apply lettering and decals, promotional vehicle magnets and more.
The sign and banner specialists at FedEx Kinko’s offer the following advice to customers to make their design creative and compelling.
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Colorful fonts and clear typeface are easy to read.
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Hang banners over entryways to grab attention.
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Oversized prints grab attention.
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Don’t forget the stopping power of a colorful image.
“This survey clearly shows that small businesses recognize that effective marketing plans help a company thrive in tough times, but they may be overlooking simple, easy solutions like an outdoor banner, yard sign or a vehicle magnet,” says Blasingame.
Customers can access the full range of sign and banner offerings from any domestic FedEx Kinko’s Office and Print Center. In addition to its professional, high-quality sign and banner services, the company offers one-stop access to other small business marketing tools like FedEx Kinko’s Direct Mail Services. To learn more, visit www.fedexkinkos.com.
About this Survey
FedEx Kinko’s, in conjunction with the Ketchum Global Research Network, worked with M/A/R/C Research to conduct the FedEx Kinko’s “Signs of the Times” Small Business Survey. A sample of Small Business Panel members were invited to participate in M/A/R/C’s weekly omnibus study. Panel members are owners from companies with 5 to 100 employees and their firms generate more than $100,000 in annual revenue. A total of 456 interviews were conducted; the margin of error is +/-4.6% at a 95% confidence level. Online interviews were conducted between March 11 and March 16, 2008.
About Jim Blasingame
Jim Blasingame is the president of Small Business Network, Inc., a media company dedicated to serving small business. He is one of the world’s foremost thought leaders on small business and entrepreneurship. Blasingame is the creator and award-winning host of “The Small Business Advocate® Show,” the world’s only weekday radio talk show dedicated to small business, on the air since 1997. Conducting over 1,000 live interviews annually with his Brain Trust, the world’s largest community of small business experts, he reaches a national radio audience, plus worldwide listeners on his Internet simulcast and archives. Blasingame’s short feature, “A Small Business MinuteTM,” airs daily on XM Satellite Radio. He is a syndicated columnist and the author of two books, “Small Business Is Like a Bunch of Bananas” and “Three Minutes to Success.” Jim is also the founder of the small business knowledgebase AskJim.biz. Blasingame can also be found at SmallBusinessAdvocate.com.
About FedEx Kinko’s Office and Print Services
FedEx Kinko's Office and Print Services is the world's leading provider of document solutions and business services. The Dallas-based company has a global network of more than 1,900 digitally-connected locations in 11 countries. FedEx Kinko’s offers access to copying and digital printing, professional finishing, document creation, Internet access, computer rentals, videoconferencing, signs and graphics, notary, direct mail, office products, Web-based printing, and the full range of FedEx day-definite ground shipping and time-definite global express shipping services. For more information, please visit
www.fedexkinkos.com.
About FedEx Corp.
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $37 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the worlds most admired and trusted employers, FedEx inspires its more than 290,000 employees and contractors to remain absolutely, positively focused on safety, the highest ethical and professional standards and the needs of their customers and communities. For more information, visit
news.fedex.com.
