Facebook ads cost an average of 51.3 cents for cost-per-click (CPC) and $8.77 per thousand views (CPM) in 2023. Thanks to precise audience targeting abilities, Facebook ads are an effective way to gain brand awareness, leads, and sales. Advertisers only need to spend a minimum of $1 a day to run ads on Facebook, making…
Statistics
A Brief History of POS Systems
From their first incarnation, the original and primary purpose of point-of-sale (POS) systems was to record the products and services being sold to buyers, receive payment from customers, and keep cash secure. The history of POS systems began in the US as far back as the late 1800s with simple mechanical cash registers. As the…
27 Dropshipping Statistics & Examples
Dropshipping is a retail business model where an ecommerce merchant sells physical products without keeping inventory in stock. In this business model, the retailer is the online storefront where customers purchase goods. They then outsource the entire manufacturing and order fulfillment process to a dropshipping supplier. In this article, we go over key statistics that…
Ecommerce Return Rates: Expert Guide for Small Businesses
The ecommerce return rate measures the frequency of an online store’s returns. It is gauged as a percentage of the total number of sales returned within a certain timeframe. These rates greatly vary between industries but generally depend on product categories (clothing is the most returned category) and the online store’s return policy. In 2022,…
Supply Chain Statistics: Industry Trends & Turbulence
A supply chain is a network of people, companies, and processes working together to create and deliver products or services to customers. The supply chain landscape is evolving rapidly, driven by market growth, sustainability demands, disruptive forces, and technological advancements. At the same time, supply chains worldwide are still rebounding from the impact of the…
40+ Branding Statistics Every Small Business Should Know
A strong brand enables you to attract and retain customers, stand out from the competition, and build trust and credibility with your audience. From creating a well-defined brand identity and consistently delivering on your brand promise to creating compelling, differentiated messaging, these eye-opening branding statistics will convince you to pay attention to your brand and…
20 Critical Video Conferencing Statistics to Know
The rise of remote and hybrid work led businesses to a shift in video conferencing platforms to facilitate virtual meetings. Since then, video conferencing providers introduced advanced features to ensure seamless collaboration, including whiteboarding and artificial intelligence (AI). In this article, we explore the latest video conferencing statistics, industry leaders, and how they have shaped…
27 Startup Statistics Entrepreneurs Need to Know
Starting your own business can be rewarding. But it also brings many challenges, from targeting the right market to finding the right marketing strategies. To help inspire your journey, here are 27 startup statistics, from how many startups fail or succeed to how they get funded and which industries have the most startup activity. General…