UK SMEs are in the dark about how to attract new customers, research shows
The majority (71%) of UK SMEs are either too busy or don’t know how to attract new customers, according to research by business leadership organisation, Entrepreneurs Circle.
The study, which questioned over 800 participants on the challenges of driving business growth, also revealed more than half (54%) of business owners are concerned they don’t know how to retain long-term customers.
Additionally, when questioned about specific strategies they use to drive growth, 64% of entrepreneurs admitted they dedicate less than a third of their strategic budget to lead generation, further demonstrating many business owners don’t understand how to get in front of new and relevant audiences.
Founded in 2010 by serial entrepreneur, Nigel Botterill, Entrepreneurs Circle exists to educate, motivate, help and inspire business owners to grow and build the successful and profitable business that they desire.
Nigel Botterill, founder and CEO of Entrepreneurs Circle, said: “Our research shows that, whilst business owners are notorious for their innovative ideas, passion and drive, many won’t ever reach their full potential because they don’t know what’s needed to grow their customer base and keep them coming back again and again.
“We wanted to help businesses make this a problem of the past by hosting a dedicated conference offering them a ‘one stop shop’ for all things customer acquisition. We’ve enlisted some of the most experienced and respected entrepreneurs in the business to share their secrets to success.”