Local Pulse Report™- Marketing Priorities for Small Businesses

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Description

Why Read This Report

Small and medium-sized businesses (SMBs) find that challenges — like limited resources, budgets, and technology — impede their ability to grow their businesses. Even so, SMBs are planning to increase investments in marketing and technology over the next twelve months. They plan to shift resources away from traditional marketing tactics and increase resources in digital ones. While this shift isn’t new, it does provide an opportunity for marketing service providers.

 

Key Takeaways

SMBs Face Challenges to Business Growth
Like many enterprise businesses, SMBs feel that several factors hinder their ability to grow. Some of the biggest areas that impact business growth are limited resources, budgets, and technology.

Shift of Marketing Budgets Continues
The shift of dollars from traditional forms of media to digital ones continues. SMBs plan to decrease spend on traditional media 3 times the rate of digital media over the next 12 months.

SMBs Should Lead The Way In Marketing Innovation
Although limited by their budgets and size, small businesses can generally adapt to changing market dynamics faster than larger organizations that have legacy systems and processes. Because of this, SMBs will continue to quickly adopt new marketing tactics and technologies — if they see the value.

 

Charts Included

1-1 Biggest Factors Holding Back Business Growth

2-1 SMB Marketing Goals Over The Next 12 Months

2-2 Traditional Vs. Digital Planned Change In Media Spend Over The Next 12 Months

2-3 Reasons Why SMBs Are Decreasing Their Media Investments

2-4 Reasons Why SMBs Are Increasing Their Media Investments

2-5 SMB Planned Change In Media Spend Over The Next 12 Months

2-6 Average SMB Budget Increases For Digital Media (2013-2019)