SMBs still too wary of digital marketing and social commerce
Small businesses in the US are not pursuing digital marketing techniques because they believe social media and other avenues are too risky, according to a new survey conducted by Clutch, a B2B research firm.
The firm surveyed 352 owners and managers of small businesses in the US to determine how they incorporate advertising and marketing into their business plans, finding that potentially thousands of small businesses are negatively impacting their success, limiting their growth, and making it easier for competitors to capture and convert potential customers.
This gels with recent studies stating that, on average, approximately 9.5 % of a company’s marketing budget is spent on social media promotions. It has been projected that this number will grow to around 13.2 % within the next year.
However, within the next five years, there is a projected increase of 21.4 %. This represents a 128 % increase, largely based on the insight of chief marketing officers that bold opportunities wait in social media.
Similarly, a survey of SMBs across the UK in June found that many are losing leads through a misconception that marketing automation is expensive and resource heavy.
The survey by Mailjet found that 52% of senior marketers in small businesses across the UK are communicating with their consumer base less than once a week. According to the study, budget limitations sit at the heart of this issue. Nearly half (48%) of senior marketers in businesses of under 100 people aren’t currently using any automation solution to support resource scarce teams, with almost 44% stating it’s simply because they don’t have enough money.
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