Every year we take time to honor the small businesses owners of the world, those who are dedicated to providing services for their community and are not looking to become a giant franchise. This day is today, March 29th, National Mom and Pop Business Owners Day. These businesses are often overlooked as key contributors to the economy because their output is not at the scale of large enterprises, but their value is still important. As 99.7% of U.S. employer firms are small businesses, and make up 64% of new private sector jobs created each year.
These are the businesses that care about the experience you have, the good feeling you get when you walk in, and overall experience you’re left with after leaving their place of business. These business owners value customer feedback, whether it is through word of mouth, or the reviews written about them on Yelp. They are quick to respond because this data is critical to their success. They don’t have the large databases or CRMs that large enterprises have, but that doesn’t mean they don’t prize their customer data. In fact, it can mean that customer data is even more important to them, as one unsatisfied customer can be more damaging. Whether it is a list of their customers’ emails, addresses, or phone numbers, these business owners rely on this data to keep in touch with their customers and operate at a productive level.
Given the smaller scale of these businesses, they likely do not have in-house data resources or powerful systems that much of corporate America has come to rely on. Many of these databases are kept in a personal laptop, created on excel spreadsheets, or other kinds of personal software. They do not often hire dedicated employees to mine through data, or recognize data errors when they go to mail out promotions or email a receipt to a customer that just completed a purchase.
With the lack of dedicated budget for expensive software and resources, these small business owners’ needs are often not met. This, however, should not be the case, as their success is critical to the economy at scale. Small businesses produced 46% of the private nonfarm GDP in 2008. They need to reach their customers and conduct business efficiently and confidently. With many enterprise solutions being too expensive and not targeted to these users, small businesses have data issues that can be costing them large sums and hurting their bottom line.
Email and address verification services can help these small businesses find some of their lost customers, which have gone untouched and might have ended up on big-box shops such as Amazon.com or Walmart because they have not heard from their local mom-and-pop shop they used to love walking in to and purchasing goods from. Some of the essential tools these small businesses should have in their email marketing toolbox can be found here, this site lists some valuable strategies and simple solutions for businesses of any size to use.
With data quality being essential to success of businesses of all sizes, these small business owners need to solve this piece of the puzzle. As outlined in the Experian Data Quality Global Research report, Businesses expect 79% of sales decisions to be driven by customer data by 2020, and 23% of customer data is thought to be inaccurate. We have also found that this is even higher for retailers, which find 24% of their data being inaccurate. Companies like Experian Data Quality offer these services to solve the pain points of small businesses. With options for one-time validation, Experian Data Quality is able to validate excel lists of email data for mom-and-pop shop owners. And at a lower cost of ownership with no recurring fees, these business owners can take advantage of these services to begin re-engaging with their lost customers again. Experian Data Quality wants to the mom-and-pop shops of the world to have thriving and lucrative relationships with their customers, and we do this by offering leading services for better contact data management. Join us in celebrating National Mom and Pop Business Owners Day and take some time to enjoy your local shops today.