The correlation between perception and reality

0
58

For most small to medium-sized businesses, the number of resources available are often tight and any budget available needs to be used wisely to maximise returns. It is critical as a business owner that you focus your efforts on the activities that will generate revenue so you can sustain and grow your business.

When evaluating your business strategy you may consider obvious factors such as your website design, marketing plan or social media presence. The perception that these are the greatest drivers for growth is a common misconception that can hinder your ability to reach more prospective customers.

Servcorp has partnered with Roy Morgan Research and the results show businesses the reality that a local address in the nearest city and an additional mode of contact are two of the greatest factors impacting their ability to grow their client base. Failing to address these two things will result in many missed opportunities for your business and have a negative impact on your bottom line.

The study found that prospective customers are 20 times more likely to contact a business with a CBD address compared to businesses with other typical address options such as a PO box address or a regional, suburban address.

While you may consider your digital presence to be your greatest asset in terms of establishing your credibility, having a local presence by way of a local address and fixed landline is equally, if not more, important. It is regarded so highly that 2 out of 3 people stated they would not consider doing business with a supplier that did not have a local presence.

The study also further confirmed that prospective customers give strong support for suppliers having an easily recognisable CBD address with 4 out 5 people stating they do not want to contact a business that does not have a recognisable CBD address displayed on their website and marketing collateral. Conversely, only 1 out of 5 was willing to contact a supplier that only had a PO box address or no address at all. People also prefer to connect with businesses that displayed both a mobile number and fixed local landline as it creates a further sense of accessibility and trust.

This perception was the strongest amongst the 45-69 age bracket showing that business which don’t recognise the need to establish a local presence can end up eliminating a vast number of clients. This is truest in the Northern Territory, followed by Hobart, Adelaide, Sydney, Melbourne and Perth.

A central address and phone number in the city business district contributes positively to a prospective customer’s impression of the potential supplier. Servcorp is helping business to address this issue, with 28 central office locations across Australia and New Zealand, they can help you create a perception that you have a strong central presence.

This content is powered by our partners at Servcorp. Together with Roy Morgan Research they put together this white paper on First Impressions and what Small Business Owners can implement within their companies to ensure that they are always giving a good one.

Chloe Potvin
Chloe Potvin is a contributing small business writer for Kochie's Business Builders.