Inaccurate information online costs small businesses £6.1 billion a year
Posted on in Business News , Cycles News
Independent high street businesses are losing £6.1billion a year in revenue because the wrong information is published online, says data published by UK Domain.
According to the report, 67% of customers check online for key information such as an address, contact number or opening hours before they visit a physical business.
However the majority of independent stores (61%) have inaccurate, or no information listed online.
Businesses are often victims of misinformation online listings that search engines share for the world to see. They may have no idea that these listings are there and the information shared is often unverified by the businesses themselves, relying on crowdsourced data and potentially unreliable third-party sources.
The consequences for independent businesses are huge. Almost two-thirds (63 per cent) of shoppers would never return to an independent business if they arrived to find that the business was shut and that they'd had a wasted journey, despite online information stating it was open.
Three quarters of people polled say once their trust has been lost by an independent business, either due to inaccurate information or another factor, they are more likely to turn to established chains.
Ultimately, this costs independent high street businesses up to £6.1 billion in lost revenue every year as consumers spend elsewhere.
As a champion of getting small businesses online, the UK Domain is encouraging all independent high street businesses to take charge of their web presence. Those with a website are more likely to win the confidence of potential customers because 69% of UK consumers trust businesses that have one.
But you don't need to revamp your online presence completely. According to the research the six most important things consumers want to find online are:
- Opening hours (87 per cent)
- Product information (86 per cent)
- Opening days (85 per cent)
- Address (81 per cent)
- Contact information (78 per cent)
- Business background (36 per cent)
Simply searching for your own business online will show you exactly what your customers see. Make sure your opening hours and basic business information is correct.
Helen Tomes, director of marketing and service delivery at Nominet which runs the UK Domain, adds, ‘Most independent businesses are online - whether they realise it or not - but unfortunately there's no guarantee that basic information like the address and opening hours displayed about them is correct. Inaccuracies can directly impact sales, and so just as you'd never ignore a customer who visited your shop, in a world where time-poor shoppers research online, causing them a wasted trip is tantamount to poor customer service and could alienate them in the future.
‘We'd strongly encourage businesses to review the information that exists about them on the web and to correct any errors. Creating a simple website outlining what you sell, when you're open and where you're based is an easy step to save yourself and your customers time and to improve opportunities for your business.'
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Every cycle shop has a free listing on The Cycling Experts, a website owned and managed by the ACT.
At the heart of The Cycling Experts is the find a shop directory where every UK bike business can promote the brands and products they stock, opening hours, shop logo, staff details, website links and much more.
Check your listing is up to date and make any changes via your My ActSmart account.