Small Businesses Are The Easiest Target!

small business
small business

A large number of small and mid scale business firms are unable to protect their and their clients’ data. The reason for this can be lack of dedication, unavailability of sufficient resources or absence of related knowledge. What might be the reason is, small businesses are most likely to face the threat of data breach. Just a click on Google search reveals shows a large number of incidents that these small companies face. A recent report of the Federation of Small Businesses (FSB) showed that the members of this federation face a data breach of $1 billion every year. The FSB found out that almost 41 percent of the members have faced data leakage during the previous year.

The average cost per business of these data breaches is almost up to $5 per business. FSB further revealed that the most common threat faced by these small businesses is viruses, which have been faced by more than 20 percent of the members. The next two biggest threats are hacking and security breach having the statistics of 8 percent and 5 percent respectively.

The most common source of data breach is due to the new trend of BYOD (Bring Your Own Device). This trend tends to bring a boom in employees’ security as they are free to work on the device they are comfortable with. However, the majority of the employees do not maintain the security of these devices as per the necessity. Except the threat of malware viruses through these devices, it’s principle has made data stealing easy as they are free to bring their own device which they carry back to their home. Employees can copy the confidential data with malafide intentions of leaking it.

Employees are not aware or educated regarding the data security; companies need to educate their employees in terms of security. It is interesting to know that the majority of the companies does not use security software, and the minority who uses security software does not really know much about its functionality. Small organizations can use easy and cheap security but capable security software that can lock files. The employees of the company think that once they have installed the security software; their data is now safe as a house. They do not know to set a strong password that will keep prying eyes away from their data. Hackers are expert in guessing the passwords. A password should not be a proper word which can be used in a sentence. The password should be a complex combination of uppercase and lowercase letters, combined with symbols and numbers. A strong password means a strong security.

Keeping security software in the system does not provide you security. Software should be updated and tested regularly; cyber criminals work hard to keep themselves updated with the security measures and constantly work to break them. According to a network specialist, development of malware software has become an underground industry now. This statement from a specialist is alarming, the statement means that these hackers are working together to find the loopholes in security measures and develop software accordingly.

Hackers have diverted their concentration on small businesses as they are an easy prey to hunt. Lack of security measures from small organizations gives easy passage to the e-crooks to accomplish their purpose.

How Do Small Business Owners Target?

Small business owners typically target their ideal customers through a combination of traditional and digital marketing tactics. This can include direct mail, email marketing, search engine optimization, social media, content marketing, and advertising on various platforms. Additionally, small business owners can also use data-driven marketing tactics such as customer segmentation and personalization to target their ideal customers more effectively.

Types Of Target Market

The four types of target market are:

1. Demographic Targeting: Targeting consumers based on characteristics such as age, gender, income, and location.

2. Psychographic Targeting: Targeting consumers based on their interests, values, and lifestyle choices.

3. Behavioral Targeting: Targeting consumers based on their online and offline behaviors.

4. Geographic Targeting: Targeting consumers based on their geographic location.

Best Target Market

There is no single best target market for small business owners. It is important to identify the characteristics of the ideal customer and tailor marketing efforts to reach this group. Additionally, small business owners should also consider the demographics, interests, and behaviors of their target market in order to create the most effective marketing campaigns.

Why Is Target Marketing Important For Small Business?

Target marketing is important for small businesses because it allows them to focus their marketing efforts on specific segments of their customer base. This enables them to maximize their marketing budget and ensure that their message is reaching the right audience. By targeting specific customers, small businesses can create more effective campaigns that are tailored to the needs of their target market. This can help them to increase their customer base, increase sales, and ultimately, increase their profits.