Kentucky

With its disproportionately higher percentage of Maintainer businesses (32% vs. 24% avg.), Kentucky SMBs struggled, reporting lower than average business outcomes. Although more than half (52%) of Kentucky SMBs adapted or changed their product offerings during COVID-19 to try and stave off the damage, 40% reported losses to their customer base. This led to 48% of Kentucky SMBs being focused on how to grow their business and thinking about short-term business goals (40%). Less than half (45%) plan to use digital tools more than before the crisis. Going forward, 51% of Kentucky SMBs want to optimize their business operations and 49% want to digitally prepare their businesses for the future.

Kentucky Map
20%
Driver
36%
Adopter
32%
Maintainer
12%
Non-seg

Average revenue reduction

-18%   -16% avg.

% comfort with digital tools pre-COVID-19

57%   68% avg.

% plan to use tools more post-COVID-19

45%   53% avg.

Top 3 tools used pre-COVID-19

1) Business websites (75% vs. 69%)

2) Social media/video platforms (75% vs. 69%)

3) Digital payments (70% vs. 67%)

% increased use of tools during COVID-19

78%   72% avg.

Top post-COVID-19 questions

How will I...

Optimize my business operations? (51% vs. 39%)

Retain my customer base? (48% vs. 42%)

Digitally prepare for future? (49% vs. 37%)

Top 3 tools interested in adopting

1) Customer relationship management platforms (26% vs. 11%)

2) Business/data analytics tools (13% vs. 9%)

3) Collaboration tools (17% vs. 7%)

Top 3 learning formats of interest

2) Webinars or livestreams (44% vs. 47%)

1) Step-by-step video tutorials (56% vs. 56%)

3) Step-by-step written guides (42% vs. 42%)

Top barriers to digital tool adoption

49% avg.

57%

Information deficit

45% avg.

48%

Cost

28% avg.

40%

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