Report: SMBs Need to Spend Money to Make Money
By Matt McGee on Nov 11, 2009 in Small Biz Marketing, Statistics
Emarketer recapped an interesting report about the relationship between money spent on marketing and expected revenues.
From the eMarketer article:
According to the “Small Business Marketing Health Check” report from Hurwitz & Associates, there is a correlation between small businesses that are doing well and greater marketing spending.
Almost two-thirds of small businesses that expected increased revenues had raised or planned to raise marketing spending, compared with just 32% to 36% of businesses with flat or declining revenues.
The article goes on to say that social media, email marketing, and search are the top three marketing tools on small businesses list in 2009.
3 Comment(s)
By Melissa on Nov 12, 2009 | Reply
Great info, Matt. All I can say is that many small businesses in Florida are getting it because the phone is ringing every second. I think there are businesses that understand what is necessary, but there many that do not.
By Matt on Nov 16, 2009 | Reply
Electronic media allows small business to compete for revenue with the big boys… Successful small enterprises that invest in internet marketing usually don’t regret it!
Thanks!
Matt
By Dan League on Dec 4, 2009 | Reply
Wish I found this earlier but it’s still great information. It would be interesting to know what the mindset will be going into 2010. Perhaps Google’s focus on Local Search results will prompt more business owners to seriously consider Online Marketing strategies and invest!