Improve business by taking advantage of today’s digital tools
Research (2016) by Deloitte Access Economics indicates that around one-quarter of Australian SMBs are operating at a basic level of digital engagement, with only 9% at an advanced level. Compared to businesses with basic digital engagement, SMBs that have advanced levels of digital engagement are:
- 1.5 times more likely to be growing revenue, and earned 1.4 times more revenue per employee in the previous year
- More than 8 times more likely to be creating jobs
- 7 times more likely to be exporting
- More than 14 times more likely to be innovating by offering new products or services.
Deloitte believe Australian SMBs have much to gain from improving their digital engagement. The digital engagement ladder is:
Businesses who only have a business email address and use traditional methods of marketing (e.g. post, newspapers). No social media or website. Can be listed in an online directory but this has been done by a third party.
Businesses who have a website and have listing on an online directory that they control. May also be listed on an online marketplace or third party e-commerce platform (e.g. eBay). Some use of social media and basic online marketing (e.g. webpage and banners).
Businesses with a mobile-responsive website, which may also have e-commerce or booking capabilities. Extensive use of social media and higher level online marketing methods (e.g. search engine optimisation, automated email advertising).
Businesses that use data analytics to analyse customer information and inform decisions. Use of advanced online marketing tools such as search engine marketing, social media advertising and video advertising.
Read more about the Deloitte research here.