Marketing is the bridge between your business and your customers.
Marketing covers a wide range of activities. Almost any form of communication with your customers falls under its umbrella.
From traditional advertising to social media, online review management to blogging, search engine optimization to direct mail – it’s all marketing.
Without marketing, your business may as well exist in an unlit locked vault – no customers are coming in and no sales are going out.
But, with so many avenues to choose from, how does a small business know where to start?
There is no one-size-fits-all marketing solution for any business.
And, small businesses have their own unique marketing challenges. In fact, 76% of small business owners have reported facing marketing challenges.
That’s pretty pervasive.
When you’re not quite sure how to proceed – especially in a high-stakes situation like marketing your business – it helps to take a step back and survey the landscape.
Here are 28 small business marketing facts that may surprise you… and change that way you approach marketing for your small business.
Close, But No Cigar
Many small businesses aren’t bringing their “A” game to their marketing.
They may have good intentions but lack the resources (time, budget or know-how) to really succeed.
These facts will show you that stepping up your marketing game is likely to help set you apart from your small business competition.
The Facts:
1. Most small businesses have small budgets – or no marketing budget at all. Forty-seven percent of small businesses spend less than $10,000 on digital marketing.
Most small businesses have small budgets - or no marketing budget at all. Forty-seven percent of small businesses spend less than $10,000 on digital marketing.
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There are many ways to market with a small budget. We recommend you read 21 Ways To Market Your Small Business on a Shoestring Budget for some ideas.
2. Almost 71% of small businesses do all of their own marketing in-house. But, according to Forbes, the small businesses that are happiest with their marketing performance hired outside agencies to handle it for them.
Almost 71% of small businesses do all of their own marketing in-house. But, according to Forbes, the small businesses that are happiest with their marketing performance hired outside agencies to handle it for them.
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3. The less-than-stellar results many small businesses see from their in-house marketing efforts may be due to the fact that 58% of the small businesses using in-house help only assign 1-2 employees to handle their digital marketing. Often, this is not enough manpower to get the job done right.
The less-than-stellar results many small businesses see from their in-house marketing efforts may be due to the fact that 58% of the small businesses using in-house help only assign 1-2 employees to handle their digital marketing.…
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Even if you’re short on people, you can market effectively. For example, you can use psychology to improve business marketing and make sure that your marketing is data-driven.
Even if you're short on people, you can market effectively. For example, you can use psychology to improve business marketing and make sure that your marketing is data-driven.
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4. While content marketing continues to dominate as a low-cost, but extremely effective, marketing strategy, 80% of small businesses don’t utilize content marketing. While content marketing continues to dominate as a low-cost, but extremely effective, marketing strategy, 80% of small businesses don't utilize content marketing.
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5. A website is essential for every business. Period. In our digital world, customers expect businesses to have a website. However, as of 2015 60% of small businesses did not have a website! While content marketing continues to dominate as a low-cost, but extremely effective, marketing strategy, 80% of small businesses don't utilize content marketing.
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6. 30% of small businesses without a website cite cost as the reason. But, with so many inexpensive options for building a website these days, cost should no longer present a barrier.
30% of small businesses without a website cite cost as the reason. But, with so many inexpensive options for building a website these days, cost should no longer present a barrier.
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7. And, 35% of small businesses without a website feel their operation is too small to warrant a website. Customers will beg to differ. Consumers not only expect businesses to have a website, they view a website as a sign of credibility.
35% of small businesses without a website feel their operation is too small to warrant a website. Customers will beg to differ. Consumers not only expect businesses to have a website, they view a website as a sign of credibility.
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The 210,000+ creatives at crowdspring can design a custom website to help your small business stand out.
Small Business Marketing Focus
Many small businesses may be neglecting their marketing, but there are a few things that they agree are important.
These facts reveal many small businesses’ marketing priorities. Do they align with yours?
The Facts:
8. Small businesses put their faith in the power of word-of-mouth. 28% of small businesses believe that word-of-mouth advertising is the most effective way to attract new customers.
Small businesses put their faith in the power of word-of-mouth. 28% of small businesses believe that word-of-mouth advertising is the most effective way to attract new customers.
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9. 20% of small businesses claim that search engine optimization is the most effective way to attract new customers. Note that both word-of-mouth and SEO techniques are organic in nature.
20% of small businesses claim that search engine optimization is the most effective way to attract new customers. Note that both word-of-mouth and SEO techniques are organic in nature.
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10. Increasing sales continues to be a top priority for small businesses. At 51%, driving sales is small businesses’ top digital marketing priority. Increasing sales continues to be a top priority for small businesses. At 51%, driving sales is small businesses' top digital marketing priority.
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11. Small businesses are determined to get their name out there, too. In second place, 48% of small businesses cite building brand awareness as their top digital marketing priority. Small businesses are determined to get their name out there, too. In second place, 48% of small businesses cite building brand awareness as their top digital marketing priority.
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Branding is extremely important. Successful businesses usually have a strong business name and a professionally designed logo.
To learn more about naming your company, read 10 Tips for Naming Your Startup or Small Business. To learn more about logo design and branding, read Powerful Branding Lessons From The World’s Best Brands (That Actually Work For Your Small Business).
12. If you’re wondering where to focus your social media marketing efforts, Social Media Examiner notes that Facebook, Twitter and Linked-in are the top three social media marketing platforms for small businesses.
If you're wondering where to focus your social media marketing efforts, Social Media Examiner notes that Facebook, Twitter and Linked-in are the top three social media marketing platforms for small businesses.
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Social Media
People associate personalized attention and authentic relationships with small businesses. The casual and personable nature of social media makes it an excellent platform for small businesses to play to that strength.
Social media marketing continues to be an ideal and cost-effective way for small businesses to reach and build relationships with their audiences. But, don’t take my word for it – these facts will tell you all you need to know.
The Facts:
13. Almost all small businesses have realized the value of social media marketing. According to Social Media Examiner, 96% of SMBs say they use social media in their marketing strategy. If you're wondering where to focus your social media marketing efforts, Social Media Examiner notes that Facebook, Twitter and Linked-in are the top three social media marketing platforms for small businesses.
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14. And, most small businesses agree that social media marketing pays off. Almost 90% of marketers report that social marketing efforts have increased exposure for their business. Most small businesses agree that social media marketing pays off. Almost 90% of marketers report that social marketing efforts have increased exposure for their business.
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15. Social media doesn’t only increase exposure. It has also shown great results in driving online traffic – a great way to generate leads. 75% of marketers claim that social media marketing has helped to increase traffic. Social media doesn't only increase exposure. It has also shown great results in driving online traffic - a great way to generate leads. 75% of marketers claim that social media marketing has helped to increase traffic.
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For more on this, we recommend you read Supercharge Your Small Business Marketing: How To Market to the Social Media Generation.
Off-Track Marketing
Many small businesses may be losing their way because they don’t have the data needed to make smart marketing choices, adjust or improve their strategies.
These facts shine a light on small businesses’ ongoing struggle to track their marketing data.
The Facts:
16. Small businesses are having a hard time tracking their marketing ROI (return on investment). Less than 30% of small businesses use website analytics, call tracking or coupon codes. And without knowing what’s working, it’s hard to craft a smart marketing plan.
Less than 30% of small businesses use website analytics, call tracking or coupon codes. And without knowing what's working, it's hard to craft a smart marketing plan.
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17. While social media continues to be a very popular marketing platform for small businesses, 6 in 10 small business owners are not able to track ROI from their social media activities.
While social media continues to be a very popular marketing platform for small businesses, 6 in 10 small business owners are not able to track ROI from their social media activities.
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18. Worse than that… 18% of small businesses admit to not tracking anything. Thankfully, this number is relatively small. Tracking your results is essential to making informed marketing choices and improving your strategy.
18% of small businesses admit to not tracking anything. Thankfully, this number is relatively small. Tracking your results is essential to making informed marketing choices and improving your strategy.
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19. Forty-two percent of marketers cite lack of quality data as their biggest obstacle when implementing successful lead generation campaigns. Prioritize gathering the data your small business needs to plan and execute smart marketing campaigns.
Forty-two percent of marketers cite lack of quality data as their biggest obstacle when implementing successful lead generation campaigns. Prioritize gathering the data your small business needs to plan and execute smart marketing…
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Online Reviews
Positive online reviews (and the way that your business handles its negative online reviews) can either be a major marketing strength or a major weakness.
Reviews are even more important for small local businesses with small advertising and marketing budgets. Word-of-mouth advertising, reviews, and referrals are vital to building momentum and generating new local leads.
These facts from ReviewTracker show just how important your online reviews – and your response to online reviews – really are.
The Facts:
20. 63.6 percent of consumers say they’re likely to check Google reviews before visiting a business. 63.6 percent of consumers say they're likely to check Google reviews before visiting a business.
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Reviews are even more important for small businesses – most of which don’t have national or global reputations to back them up. So, encourage your satisfied customers to leave you a positive review on Google. It’s a marketing gift that keeps on giving.
21. While consumers are placing more importance on online reviews, they expect businesses to do the same. According to a survey by ReviewTrackers, 53% of customers expect businesses to respond to their online reviews within a week. According to a survey by ReviewTrackers, 53% of customers expect businesses to respond to their online reviews within a week.
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That means that more than half of your customers expect a prompt response to the grievances they share online. If you fail to respond to those negative reviews, you’re disappointing more than half of your consumer base.
22. However, 63% of consumers say that a business has never responded to their review. So, despite customer’s expectation that businesses respond to their negative online reviews, many businesses do not. That’s a lot of disappointed customers.
63% of consumers say that a business has never responded to their review. So, despite customer's expectation that businesses respond to their negative online reviews, many businesses do not. That's a lot of disappointed customers.
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23. But, the time and effort needed to respond is well worth it. Your business’s reputation can recover significant losses if you respond to negative reviews. 45% of customers are more likely to visit a business if it responds to negative reviews. Your business's reputation can recover significant losses if you respond to negative reviews. 45% of customers are more likely to visit a business if it responds to negative reviews.
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24. Finally, don’t go chasing waterfalls. A perfect average online review score is highly unlikely and not ideal. A study by Power Reviews and Northwestern University reveals that shoppers are more likely to purchase products with an average star rating between 4.2 and 4.5. The 4.2 -4.5 range even beats out a perfect 5 stars.
A study by Power Reviews and Northwestern University reveals that shoppers are more likely to purchase products with an average star rating between 4.2 and 4.5. The 4.2 -4.5 range even beats out a perfect 5 stars.
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Marketing in Your Own Backyard
Many small businesses are local small businesses – targeting consumers who live in their geographic location.
It follows then, that local customers are the lifeblood of local small businesses.
Here are some facts that will help you market to local shoppers.
The Facts:
25. Clix Marketing’s Amy Bishop revealed at the 2018 SMX East Search Engine Marketing Conference that 72% of consumers who did a local search visited a store within a 5-mile radius.
Clix Marketing's Amy Bishop revealed at the 2018 SMX East Search Engine Marketing Conference that 72% of consumers who did a local search visited a store within a 5-mile radius.
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This means that if you’re seeking local consumers, you’ll get the most impact if you target customers who live within 5 miles of your business.
26. A great way to engage and entice local shoppers is by offering location-based coupons that reward customers for stopping by the store. Aaron Levy of Elite SEM (a search engine marketing company) shared that 51% of people polled wanted location-based coupons when searching for a business online.
51% of people polled wanted location-based coupons when searching for a business online.
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In one client case-study, Levy saw an increase of 9916% in mobile revenue after introducing a mobile discount reading “show this ad at checkout to receive discount.”
Also, remember to differentiate your products through smart packaging design. For more on this, read Biggest Product Packaging Design Trends in 2018.
27. In a world where you can buy most things online, consumers sometimes need an incentive to leave the house. This trend report from ScanLife shows that 86% of consumers would find it beneficial to get exclusive coupons or offers on their mobile device while shopping in store. Remember that customers like to be rewarded.
86% of consumers would find it beneficial to get exclusive coupons or offers on their mobile device while shopping in store. Remember that customers like to be rewarded.
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28. Once consumers are out and about, give them a reason to add your business to their itinerary. A PRRI study on email marketing, retail and coupon use revealed that 56% of participants report visiting a brick-and-mortar store after receiving a deal or offer on their mobile device when they were near the store. That’s right – more than half of the customers polled reported that they would add a business to their agenda if they received a discount coupon while they were out.
56% of participants report visiting a brick-and-mortar store after receiving a deal or offer on their mobile device when they were near the store.
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Look Both Ways Before Crossing
We know there’s a lot on your plate.
And, marketing can feel like just another thing that you’re “supposed” to do.
But, marketing your business – and doing it well – is essential to your small business’s success.
We hope you use these facts and statistics as a leaping off point for a more informed, targeted and successful marketing plan for your small business.
Ready to make the most of your marketing budget? Work with crowdspring’s community of over 210,000 designers who can help you take your marketing to the next level. You can get started on a logo design or request a free, no obligation design consultation for a new website design, marketing materials, product design or any other type of design with one of our design experts today.
The post 28 Surprising Facts to Guide Your Small Business Marketing Strategy appeared first on crowdspring Blog.
