Although there was an increase in investment in marketing, still more small businesses do not consider this business aspect as something important to invest in.
In 2016, only 3 out of 5 or equivalent to 62% of over 1,100 small businesses in the US surveyed by Wasp Barcode Technologies, consider investing at least 4% of their revenues to marketing.
The previous year’s statistics is even more deplorable. Almost a fifth of small businesses do not invest in marketing, and only 34% of the respondents invest at least 4% of revenues to it.
The key tools that small businesses use in marketing their brand and business offering are: through email, 54%; Website 51%; and social media, considered by 48% of small businesses. Internet advertising, predominantly the PPC advertising only receives 35% of small businesses’ approval as their marketing tool.
Small businesses are not optimising their potentials in reaching out to prospective customers, considering that over 80% of internet users shop online, and over 81% of shoppers conduct online research before buying. Regrettably, only 25% of respondents use search engine optimisation to market their business which is a 5% decline from the previous year.
Is your business one of the many that underutilise digital marketing?
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