Small Business Owners Expand Spending for Digital Advertising

May 13, 2017
Topic: Blog

Small Business Owners Expand Spending for Digital AdvertisingSmall business owners are doing better than ever before. In fact, according to the most recent survey by Clutch, 59% of small business proprietors anticipate growth in revenue in 2017 and plan to spend additional funds on advertising and marketing in excess of what they did last year.

The study, Clutch’s 2017 Small Business Digital Marketing Survey, reviewed business leaders from 350 small companies about current movements in digital marketing and advertising professions. A ratings and review organization based in D.C, Clutch identified a small business as one with less than 500 employees. Revenue from 2016 was under $1 million for 46% of survey contributors and 40% of those businesses had fewer than 10 workers.

Last year, 68% of respondents spent $100k on marketing and 41% spent only $10k or less. For 2017, 49% of business owners will spend additional funds on digital marketing to elevate sales and increase brand awareness. A spending increase of 11-30% is anticipated by 36% of small companies.

Expenditures in digital marketing outlets are comprised of:

  • Social media paid advertising – 58%
  • Email marketing – 39%
  • Website – 56%
  • SEO or search engine optimization – 35%

Most of the small businesses evaluated, 335, employ their own marketing team members. About half of the companies depend upon 1 or 2 employees for their digital marketing programs. Digital marketing firms work in tandem with 80% of the small businesses and 43% utilize 1-2 agencies.

New and innovative marketing tactics are becoming more popular, with virtual reality and improved reality strategies being tested by 17% of the businesses surveyed. Video marketing will be applied by 29% of participants.

The bottom line is that small business entrepreneurs must emphasize search engine optimization techniques and paid social media programs, according to Clutch research analyst Michelle Delgado. Taking advantage of the popularity of online videos is also crucial to a successful overall marketing campaign.

Learn more about small business marketing from the professionals at Top Marketing Agency by calling (888)843-9840.  

 

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