Small businesses (SMBs) are a busy bunch. On any given day, they might be fulfilling orders, engaging with customers in-person, managing staff, doing their books — plus dozens of other tasks. Most would relish an opportunity to gain back an extra hour, or save some money.
Luckily, those goals (and others) are attainable thanks to artificial intelligence (AI) and marketing automation. These technologies can help small businesses, including many insurance agencies, work more efficiently, drive more sales and improve the ways they are marketing themselves – without creating more of a headache or a time suck.
We recently published a report at Constant Contact called, Small Business Now: An AI Awakening, that outlines how SMBs like insurance agencies are thinking about AI and automation, and some of the results that early adopters are seeing. With insights from nearly 500 small businesses across the U.S., the study reveals how these technologies can enhance marketing effectiveness and help SMBs save time and money.
Here are the 10 stats:
- Challenge Accepted: 60% of SMBs say their biggest challenge is attracting new customers, while 39% say it’s marketing to their target audience.
- Piqued Interest: 74% are interested in using AI or automation in their business, and 55% reported that their interest in using these technologies grew in the first half of 2023.
- Off to the Races: 26% are already using AI or automation, and the top use cases are social media (52%), generative content creation (44%) and email marketing (41%).
- Proven Success: 91% of the small businesses polled say AI has helped make their businesses more successful.
- Reaping the Benefits: 60% of small businesses that currently use AI or automation in their marketing say they have saved time and are working more efficiently.
- First Step, Social Media: SMBs say the easiest places to start leveraging AI technology are social media, content creation and analytics.
- Financial Gains: 28% of SMBs expect AI and automation to save them at least $5,000 in the next year.
- Increasing Efficiency: 33% of small businesses estimate they have saved more than 40 minutes per week on marketing by using AI or automation.
- Top Concern: 44% of small businesses noted data security as their top hesitation about using AI.
- Value Recognition: The more SMBs use AI, the more they value it. 70% of SMBs would be willing to pay more to access AI and automation.
See also: To LRO and Beyond: Using Generative AI to Get the Complete Picture for Businesses that Lease Space
So, what do all these stats mean? I’m glad you asked.
AI is here to stay. The small businesses that are currently using tools powered by AI overwhelmingly agree that it is making their businesses more successful. They are working more efficiently, saving money, improving customer experiences and growing quicker.
So, if you’re an SMB that is either starved for more time in your week, or you want to improve the way you engage with your customers without adding extra marketing work to your plate, don’t write off AI as a passing trend. Give it a try, and you might be surprised about the results you see.
