In the three years since the pandemic began, the small business community has faced unprecedented challenges. Difficulties in employee retention, onerous regulations, stubborn inflation, and supply chain disruptions are all taking a toll on local business owners.
In tough economic times, entrepreneurs need to think on their feet. Just as large companies pivoted to remote work at the beginning of the pandemic, small businesses expanded their digital footprint by pivoting to selling through online marketplaces. That trend continues, accelerating the e-commerce revolution.
A strong small business community creates a strong state economy. Small businesses make up an important part of the Commonwealth's business community. According to data from the Small Business Administration, in 2020 there were more than 700,000 small businesses in Massachusetts, employing 1.5 million employees. More than 45% of Massachusetts' workers are employed by small businesses.
As president and CEO of the Marlborough Regional Chamber of Commerce, I want to empower our members with every tool and resource available to them to reach a broader audience, increase revenue, and grow their business. We recommend that you use the . Digital advertising is a resource that small businesses across the country rely on.Previously, advertising was limited to mass media — billboards, radio and television spots, and newspaper ads. Small businesses often did not price the type of advertising that had a significant impact on their revenue.
With the launch of digital advertising, small businesses have new tools that are more accessible and effective. Digital advertising allows businesses to use data such as browsing history and location to target audiences most likely to be interested in their products and services. This allows business owners to see in real time what types of ads are working, allowing them to better adjust their marketing and get more out of their ad spend.
Recent findings from the Data Catalyst Institute show the power of the digital advertising ecosystem — 82% of small business advertisers report that digital advertising helps them reach their target audience better than offline advertising, and 78% say digital advertising generates more revenue. I echo these statements, as do many of my colleagues in the Marlborough region. Digital advertising is an important tool that I leverage to expand my reach and grow my business.
Digital platforms create immense value for businesses and consumers, and have the power to build and empower communities. Unfortunately, that value creation can be undermined if lawmakers and regulators do not take a thoughtful approach to how they develop policies that impact digital ecosystems. Before government officials move forward with laws or lawsuits that could harm the small businesses and consumers they are trying to help, we work with them to help them improve their business on social media, targeted advertising, and search engines. You need to better understand how to use listings and other online things to build and grow your business. service.
As the small business world recovers from the effects of COVID-19, lawmakers should support policies that support the business community and keep Massachusetts an economic leader in the nation.
Steve Messineo is president and CEO of the Marlborough Regional Chamber of Commerce and director of business development for Citara Systems, which provides professional IT support to businesses. He previously owned and operated a successful physical therapy business.
