The small businesses know they are missing significant opportunities to market their companies. And they plan to do better this year. In fact, 39% say they will increase their marketing budgets, and 46% expect to spend at least 10% more than last year.
Most small businesses plan to focus on improving their channel mix, working more efficiently, and adhering to a strategy. Expanding their customer base is also a top priority.
What areas do small businesses need to improve the most to achieve their marketing goals?
- Growing my customer base—54%
- Using the right marketing channels—37%
- Working more efficiently—34%
- Creating a strategy/plan—29%
- Knowing what to do next—27%
- Dedicating more time to marketing—23%
- Accurately measuring campaign performance—22%
- Creating integrated campaigns—14%
Cash flow keeps your company going; marketing is the lifeblood of every small business. You can’t generate money if consumers don’t know you exist, what you do, and how to find you.
The story goes that having the best product and service will not make your company if no one knows about it.