Hi everyone! This is Hernan Vazquez and today I wanted to discuss what Facebook discovered in its study.
Based on it, advertisers, digital marketers, entrepreneurs among others, might have great opportunities in 2020.
To adapt to the ongoing crisis, small businesses are turning to internet tools.
So every business that wasn't aware that the internet was a thing for them to either to communicate with their clients or to sell their products or services, they are now turning into online sales.
Some businesses increased online interactions with their clients. N
They even reported that they're now conducting themselves online.
This means that even when their location is shut down, they have actually gone online and developed an e commerce store or similar. So they're now conducting all of their sales online.
The businesses that have changed operations have expanded the use of digital payments.
Meaning that they have pivoted to seize these online opportunities made the difference.
They kept moving forward, and stayed optimistic about the future of their businesses which means a lot of opportunity for them and for everyone.
So if you're needing to provide services to these small businesses through an agency or if you're selling training for these businesses that need to pivot to the online world in order for them to survive, then I suggest you take this opportunity.
Are you ready to go ahead and find those businesses that are willing to go into the online world?
Everybody, what's up, I hope that you guys are doing really, really well. And today I want to share with you guys some really, really cool news. Okay, some cool news for advertisers and digital marketers in general.
Actually, before I do that, let me actually find a link because I want to share with you guys the actual study conducted by Facebook. Okay, so basically what Facebook did was to conduct a study on 87,000 small businesses, and basically asking them a bunch of questions about how they felt about this whole crisis and whatnot.
And while you know, some of them are definitely struggling, there are also some really, really cool ways, okay, or Cool, cool new session. Okay, so I'm going to put the study in the links in the comments so that you actually can take a look. And I downloaded this study, actually. And I was taking a look at this and I say, Well, this is pretty good. Good news. So I'm going to jump online and I'm going to share with the study what the study says and what that means for us as digital marketers and advertisers as copywriters. You know, and you know, as general internet people, internet sales people.
So here's what I want to share with you guys. First is that every Wednesday at 2pm Eastern, I go live, answering all of your digital marketing questions is called the marketing Atlas show. So if you have any marketing and or advertising question, you can go to marketing Atlas show comm to actually get it answered. It's completely free. I go live for as long as there are questions and some people are getting a lot of value out of it.
So I hope so. So yeah, it's completely free, so that you can drop your question for this upcoming Wednesday. And if I happen to not see it right away, it does. It doesn't matter because I make sure that you we answer most of the questions anyways. Okay, so marketing, marketing Atlas show.com. Okay, so let me start sharing my screen.
Let me share the study that Facebook put together. And let me actually share my screen real quick so that you guys can see this. Okay, here we go. Alright, cool. So here we go. This is the study. And as you can see, this study was conducted by Facebook state of small, small business report 86,000 business owners and work you're seeing companies across the US and the US with fewer than 500 employees.
That's a really good indicator of what type of business owners they were talking to right 86,000 business owners with fewer than 500 employees. So that gives us kind of the data and the audience that they were targeting with this study. Now I download this study and here's the link, I'm going to put the link here so that you guys can can see that that's not what I want you to. I didn't want to end that live video, by the way. So I just put it there so that you can check it out. And I downloaded this study.
And basically as you can see, nearly a third of these businesses have shut down right. They have been Clothes are they're trying to open right now. And you know, right now there's some countries that are opening some countries that are still like lagging a little bit behind. But the overall the overall idea is that business will become back as normal. Right. So, but in any case, here's where the good news happens. So this is the summary and this is a study again, you can download it for free.
And, and, of course, you know, small business owners are closing their doors and facing a certain future 31% of owners reported that their small business is not currently operating, right. And amongst personal businesses, which are, you know, usually one man bands, if you would, the number rises to 52%. Now, on my case, and on my agency and everything that I'm doing, and you know, my companies and my training companies, usually I saw or over the past two to three months, or two months, I should say, I saw an increase in workload.
Like I definitely saw an increase on people, you know, asking for me coaching people wanting me to run their ads, people wanting my team to do their advertising all of that. And the reason why is this right? Number three, to adapt to the ongoing crisis, small businesses are turning to internet tools. So everyone that wasn't aware that internet was a thing for them to either a communicate with their clients or be sell their products or services are now turning into online sales.
Now take a look at this 51% that is 43,000 out of the 86,000 43,000 or a little bit over that are businesses report increasing online interactions with their clients. Right. And again, I help chiropractors go online I have a bunch of people go online and you know, 51% of them report increase online interactions with their clients. Number 36%. report that they're now conducting all of their selves online.
So even when their location right let's talk about the location Business even when their location is shut down there, they have actually gone online and maybe develop a, an e commerce store or something like that. And they're not. They're now conducting all of their sales online. 35% of businesses that have changed operations have expanding, have expanded the use of digital payments.
So 35% of business that have changed operations, meaning they have pivoted to seize these online opportunity, have expanded the use of digital payments. So this is really interesting, guys. This is this is really good. So go ahead and check it out. And this is number six, of course, you know, employees are facing dire economic circumstances and whatnot, because we need to be realistic, but I always want to keep it in a positive note.
So take the check this out. 57% of small business owners report that they're optimistic or extremely optimistic about the future of their businesses, only 11 percent of operating businesses expect to fail in the next three months should current conditions persist. And we know that current conditions are happening, right and are changing. So 57 of these relatively big audience size are already in sample, I should say. They're still optimistic. So think about this, if they're switching to the online world, if they're starting to expand their digital payment methods, the digital communication methods, and all of that, and they're still optimistic that they can go out of this crisis, that means a lot of opportunity.
That means a lot a lot of opportunity for you guys, digital marketers to actually increase your, your, your your retainers, or increase the amount of clients that you're working with or increase the amount of consulting clients that you have versus great deals, right. And again, I'm going to leave a link on the comments so that you can download this and take a look at this. This is pretty interesting, but this is from Facebook itself.
So the main point of this is that I know that some of you guys are currently struggling, but if you're servicing small business owners, which is most of the people that listen to me anyways, right? If you're servicing small business owners if you're trying to grow your agency or if you're trying to get ahead, or if you're trying to increase your retainers, or get better paying clients, or even if you're selling info products, right, a lot of small business owners, they have been operating their business with outdated technology with outdated perspectives because it was working.
But then this thing came up this crisis, quote, unquote, came up. And then every, you know, they need to update their their chops, they need to update their skill. So if you're out there wanting to provide services to these small businesses, right through an agency or whatever that is, or if you're selling training for these businesses that they need to pivot the to the online world in order for them to survive, then this is going to be a great time for you because again, you're able to provide a really valuable It was a valuable service six months ago now it's even more powerful. Service, if you can generate online clients, for your online customers for your clients, if you can create advertising that works really well, if you can write copy that works really well. Okay?
And then again, you need to find those businesses that are willing and ready to pivot and to go into the online work. All right, so just wanted to drop in here. And you know, share a little bit of good news on this fine Tuesday. hope that you guys find it helpful. If you have any questions again, go to marketing, Atlas show comm that is marketing, Atlas show.com and ask all of your advertising questions. It's free, completely free every Wednesday at 2pm. Eastern, go there, drop your question. I will be more than happy to help you guys out. I'll see you guys really really soon. Thank you for hanging out with me for a little bit. Bye bye.
Hernan Vazquez is a digital marketing trainer and consultant that built several 7 figure businesses from scratch. He specializes in helping business and students grow their online businesses through the use of Sales Funnels, Paid Advertising and Email Marketing.