If there’s one thing we know about small and medium-sized businesses (SMBs), it’s that they’re starting to recognize the importance of online presence. A recent survey reveals that 37% of SMBs plan to spend more on internet marketing in 2015. Let’s dig into the numbers and see what they mean for your business.
Understanding the SMB Landscape
The BrightLocal SMB Internet Marketing Survey 2014 shed light on the attitudes and usage of internet marketing among SMBs. Conducted with 736 businesses—95% of which are located in North America—the survey aimed to gauge what’s working in the digital marketing landscape.
Key Takeaways from the Survey:
Spending on Marketing:
A whopping 70% of SMBs spend less than $500 a month on marketing. This indicates a potential for growth as businesses start realizing they need to invest more to compete effectively.
Only 16% of SMBs spend over $1,000 a month on marketing, which shows that while many are cautious, there’s room for expansion in budgets.
Internet Marketing Effectiveness:
32% of respondents find internet marketing to be "very effective" at attracting new customers, a rise from 27% in 2013. This indicates growing confidence in online strategies.
Overall, 75% believe that internet marketing is effective or very effective, up from 68% in the previous year. This increasing trust could drive more businesses to allocate funds toward digital marketing.
Online Spending Insights:
About 34% allocate less than 10% of their marketing budget to online channels. However, a notable 29% are spending over 70% of their budget online, showing a shift toward embracing the digital realm.
With 50% spending less than $300 a month on internet marketing, there’s a clear opportunity for agencies to step in and help SMBs optimize their online strategies.
The Path Forward
The insights reveal that there is a positive outlook for digital marketing in 2015, with 37% of SMBs planning to increase their spending. As businesses grow more confident in the effectiveness of internet marketing, we can expect a significant shift in budget allocations.
In the words of the survey, "if more SMBs can be convinced about the effectiveness of an internet marketing campaign, then it is likely that they too will spend more of their budget in online channels."
Channel Effectiveness and Success Metrics
Word of mouth remains the champion of attracting new customers, with 28% of SMBs citing it as the most effective channel. However, 20% recognized SEO as their top tool for lead generation. These stats underline the importance of a well-rounded marketing approach that blends traditional methods with innovative digital strategies.
When it comes to success metrics, 31% of businesses consider phone calls as the most valuable. As Myles Anderson noted, "A call is considered a more solid lead because the customer has taken the time to track down a phone number and make a call." This highlights the need for marketing strategies that encourage direct engagement.
The Mobile Revolution
In today’s world, having a mobile-optimized website is no longer optional. In fact, 66% of businesses now have a mobile-ready site. This is crucial, especially since Google launched the mobile-friendly label in search results, giving those who optimize a potential ranking boost.
The shift towards mobile-friendly platforms reinforces that SMBs must adapt quickly to technological changes or risk falling behind.
Conclusion
In a digital world where visibility is everything, GMB Fox ensures your business isn’t just online—it’s the first choice customers make. Let us handle the complexities of digital marketing, so you can focus on what truly matters: growing your business.
Comments