More

    50% of Small Businesses Do Not Have a Marketing Plan

    A new study on small business owners in the US finds that many are operating without a marketing plan.

    According to a survey of 350 small and medium business (SMB) owners, 50% do not have a marketing plan for 2019.

    The study from Outbound Engine asks SMB owners about revenue growth, stress, what is preventing them from reaching their business goals, most effective marketing tactics, and more.

    Here are some key highlights from the study.

    Factors Affecting Small Business Marketing in 2019

    Small business owners are stressed, overwhelmed, strapped for time, and have limited budgets.

    According to survey responses, 62% of small business owners are as or more stressed about their business this year compared to last.

    As a result, their marketing efforts are falling to the wayside, the study finds:

    • 25% of respondents are unsure of how they plan to grow their businesses in 2019.
    • 55% of SMB owners spend less than 5% of annual revenue on marketing.
    • Over 58% of SMB owners spend five hours or fewer on marketing every week.
    • 86% of respondents would rather spend their time on other business activities than spending time on marketing.

    A little effort goes a long way

    Those who feel overwhelmed by the idea of investing time and effort into marketing should pay attention to these next stats.

    See Anyone’s Analytics Account, in Real Time.
    You can literally see real-time sales and conversion data for any website, and which campaigns drove that traffic. Start your free trial today.

    ADVERTISEMENT

    The study says that SMB owners do not have to spend significantly more time or money to get better results.

    A small increase in marketing investment led SMBs to see more revenue growth in 2018 than those who invested less in their marketing.

    Data shows that time investment as low as 5 percent can influence revenue growth.

    81% percent of respondents who invested between 5% and 10% of annual revenue in marketing said they experienced revenue growth in 2018

    By comparison, only 50% of respondents who invested less than 5% of revenue into marketing experienced revenue worth.

    For more information, see the full study here (PDF link).

    Recent Articles

    Google says China and Iran tried to hack Biden and Trump’s campaigns

    Google has announced it has identified state-sponsored hacking attempts upon both Biden and Trump's campaign staff, originating from China and Iran respectively. Fortunately, both...

    iPhone 12 launch delayed to Q4 per major Apple supplier

    The CEO of Broadcom, one of Apple’s major suppliers for hardware like iPhone Wi-Fi chips has shared today that it expects Apple’s iPhone 12...

    The Outer Worlds on Nintendo Switch proves not every game needs a port

    Please, I'm begging you. Stop with the ports. The Outer Worlds was one of the top games from 2019 and for good reason. It presented...

    Google My Business Update: Add More Hours for Specific Services via @MattGSouthern

    Google is letting businesses add more hours in their GMB listing for services that aren’t offered at all times of the day.The post Google...

    You can now get the Galaxy A51 from Verizon for free on a 2-year plan

    The Galaxy A51 is Samsung’s most successful smartphone of the year so far, to the point where you might be owning one already. But...

    Latest Stories

    Stay on op - Ge the daily news in your inbox

    Do NOT follow this link or you will be banned from the site!
    Translate »