Small business owners are constantly looking for ways to maximize their marketing budget and get the most out of their efforts. With so many different strategies available, it can be difficult to know where best to invest your time and money.
To help you make an informed decision about how much you should allocate towards marketing activities, here is a look at some key small business marketing budget statistics that will give you insight into what other businesses are doing in terms of spending on advertising, social media campaigns, website development and more.
Small Business Marketing Budget Statistics Overview
75% of small businesses believe online marketing is effective or very effective in attracting new customers.
This statistic is a powerful testament to the efficacy of online marketing for small businesses. It demonstrates that the majority of small businesses recognize the value of investing in online marketing to reach new customers. This is an important point to consider when discussing small business marketing budget statistics, as it suggests that online marketing should be a priority for small businesses looking to maximize their marketing budget.
More than half of small businesses plan to increase their investment in social media, mobile marketing, and email marketing in the coming year.
This statistic is a telling indication of the direction small businesses are taking when it comes to their marketing strategies. It shows that they are recognizing the importance of investing in social media, mobile marketing, and email marketing, and are willing to put their money where their mouth is. This is an important piece of information for anyone looking to get an idea of how small businesses are allocating their marketing budgets.
22% of small business owners designate content marketing as their most significant spend in their marketing budget.
This statistic is a telling indication of the importance of content marketing for small business owners. It shows that a large portion of small business owners recognize the value of content marketing and are willing to invest a significant portion of their marketing budget into it. This statistic is an important piece of information for small business owners looking to maximize their marketing budget and get the most out of their marketing efforts.
86% of small businesses find videos to be an effective part of their online marketing efforts.
This statistic is a powerful indicator of the effectiveness of video marketing for small businesses. It shows that the majority of small businesses have seen positive results from incorporating videos into their online marketing strategies. This is an important statistic to consider when discussing small business marketing budget statistics, as it suggests that investing in video marketing could be a worthwhile endeavor for small businesses.
Only 30% of small businesses are using search engine optimization (SEO) to promote their company.
This statistic is a telling indication of the importance of SEO in small business marketing. It shows that the majority of small businesses are not taking advantage of the potential benefits of SEO, such as increased visibility, higher search engine rankings, and more qualified leads. This statistic is a reminder that small businesses should consider investing in SEO as part of their marketing budget in order to maximize their online presence and reach their target audience.
More than half (58%) of small businesses allocate 5% or less of their budget on marketing.
This statistic is a telling indication of the lack of investment small businesses are making in marketing. It suggests that many small businesses are not taking advantage of the potential benefits that marketing can bring, such as increased brand awareness, customer acquisition, and sales. This statistic is an important reminder that small businesses should be investing more in marketing if they want to remain competitive in today’s market.
84% of small business owners rate their website’s importance as “very high” or “important.”
This statistic speaks volumes about the importance of having a website for small business owners. It shows that the majority of small business owners recognize the value of having a website and prioritize it in their marketing budget. This is a key insight that should be taken into account when discussing small business marketing budget statistics.
The average small business spends about $400 per month on online marketing.
This statistic is a valuable insight into the financial commitment that small businesses are making to online marketing. It provides a benchmark for other small businesses to consider when allocating their own marketing budget and can help them to make informed decisions about how much to invest in digital marketing. Furthermore, it can help to inform readers of the blog post about the current state of small business marketing budgets and the importance of investing in online marketing.
60% of small businesses engage in content marketing for lead generation.
This statistic is a powerful indicator of the importance of content marketing for small businesses looking to generate leads. It shows that a majority of small businesses recognize the value of content marketing and are investing in it to drive leads. This is an important statistic to consider when discussing small business marketing budget statistics, as it demonstrates the need for businesses to allocate resources to content marketing in order to remain competitive.
41% of small businesses use Facebook regularly to acquire new customers.
This statistic is a powerful indicator of the effectiveness of Facebook as a tool for small businesses to acquire new customers. It shows that a significant portion of small businesses are leveraging the platform to reach potential customers, and that it is a viable option for businesses looking to expand their customer base. This is an important statistic to consider when discussing small business marketing budget statistics, as it provides insight into the effectiveness of different marketing strategies.
Conclusion
Small business owners are increasingly aware of the importance of marketing and have taken steps to ensure that their businesses remain competitive. 47% handle marketing efforts on their own, while 71% attempt to do so.
On average, small businesses spend 35-40% of their total budget on marketing activities such as social media (83%), advertising and marketing (1-6%) website development (64%), online/digital marketing (53%-75%) content creation/marketing(22%-60%), email campaigns ($400 per month with an ROI of $38), and Facebook usage for customer acquisition (41%). However, only 50% currently have a dedicated budget allocated for these activities. As more small business owners recognize the value in investing in digital tools and technologies, it is likely that this number will increase over time.
References
0. – https://www.visualobjects.com
1. – https://www.orbitmedia.com
2. – https://www.thrivehive.com
3. – https://www.sapling.com
4. – https://www.smallbizgenius.net
5. – https://www.animoto.com
6. – https://www.postplanner.com
7. – https://www.brightlocal.com
8. – https://www.score.org
9. – https://www.prnewswire.com
ZipDo, cited June 2023: Small Business Marketing Budget Statistics
WifiTalents, cited April 2024: Small Business Marketing Budget
