Despite Pandemic, Study Shows Spending On Software Was Up Among SMBs
60% of SMBs Cite Cloud-Based Cyber-Attacks as Major Concern
GREENVILLE, S.C., Aug. 24, 2021 /PRNewswire/ -- Since the beginning of the pandemic, 44% of small business owners across North America have increased their software spending according to a survey of more than 1,000 owners of small and medium-sized businesses (SMBs). The latest "Heads Up" study, released today by Cargo and their research partner, Phase 5, also revealed that while many SMBs feel they must move their business into the cloud, 60% of them are concerned about cyber-attacks.
The research also highlighted that 66% of larger SMBs (50+ employees) are likely to switch, or are considering switching, their software vendors in the next twelve months, and SMBs of any size rank online reviews as the second most important factor when choosing a vendor -- cost being first. When asked about the type of help they are seeking from vendors, SMBs cited: day-to-day software support (39%), setting up the software (25%), fielding employee questions (21%), and updating to newer versions of software (14%).
Other findings show that there is room for improvement among software vendors:
-- 60% = trust their software vendors.
-- 57% = software vendors care about their business.
-- 62% = feel good, or very good, about cost transparency.
-- 64% = feel good, or very good, about the customer support they receive.
-- 28% = technology is "truly" meeting their needs.
-- 27% = technology is "not so much" meeting their needs.
"Whether taking their offerings online for the first time, expanding their reach, or pivoting entirely, there's a good chance SMBs are going to rely heavily on software to make that happen" says Toby Stansell, Cargo's CEO. "This study shows that many opportunities exist for big software brands to offer ideas, strategies, and software applications that position them as a business partner to SMBs, and not just a tech vendor."
With offices in Greenville, SC and Toronto, Canada, the 55-employee Cargo has been delivering advertising and marketing solutions and services to clients since its founding in 2006. The agency specializes in connecting big brands with medium- to small-business customers, and services some of the world's largest and best-known companies. Cargo was named one of the nation's fastest-growing private companies by Inc. Magazine in 2020. You can learn more about Cargo at www.thecargoagency.com
SOURCE Cargo
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