Local online marketing company ReachLocal announced that it has acquired SMB:Live corporation, a developer of digital presence and reputation management solutions for small to medium-sized businesses (SMBs). With the technology acquired through the SMB:Live acquisition, ReachLocal said it is developing a digital presence and reputation management solution designed to enable an SMB to publish multimedia content from a single interface to a business profile page hosted by ReachLocal, as well as to local directory sites, search engines and social media sites, including Twitter and Facebook.
In addition, ReachLocal said it would provide automated monitoring of local review sites, social media sites, and local blogs for references to the SMB or comments related to the SMB's business that will provide an SMB with feedback, alerts and analytics to assist it in managing its online reputation. ReachLocal offers a comprehensive suite of online marketing and reporting solutions, including search engine marketing, display advertising, remarketing and online marketing analytics, each targeted to the SMB market. ReachLocal delivers these solutions to SMBs through a combination of its proprietary platform; its direct, "feet-on-the-street" sales force of Internet Marketing Consultants; and select third party agencies and resellers.
SMB:Live's former chairman and chief executive officer, Alex Hawkinson, now serves as ReachLocal's general manager of digital presence. "We are pleased to have the opportunity to work with Alex and his team as we continue to build out our suite of products to serve our clients," said Zorik Gordon, ReachLocal's CEO.
Cost-conscious businesses can often struggle to find an online marketing platform and establish a presence in the online marketplace, which represents a key growth opportunity. A recent survey done by the Small Business Administration (SBA) that found small firms provide 50.4 percent of all private sector jobs, and they generate more than half of U.S. private non-farm gross domestic product. The study also found since the mid-1990s, small businesses have created 60 to 80 percent of the net new jobs.
While SMBs are gaining a stronger online presence, particularly in regard to offering products and services through their site, a survey by online payroll service PayPal suggests high shipping costs, security concerns and a lack of convenience are hampering online transactions. The survey revealed that nearly half (45 percent) of online shoppers have abandoned their carts multiple times in the past three weeks, with the average cost of abandoned goods in U.S. shopping carts at $109.
However, in addition to ReachLocal, companies like ZoomInfo offer similar services. By using ZoomInfo's company data, marketers, salespeople and recruiters are provided with profiles for more than 2.4 million SMBs with a Web presence. New and existing customers of ZoomInfo PowerSell (the company's lead generation and marketing product), ZoomInfo Lists and ZoomInfo PowerSearch will have immediate access to data on Fortune 1000 companies and SMBs alike.