Tips For Small Biz – The Marketing Spend
A new study done by marketing company WordStream reports that 29% (majority) of small businesses spend between $750-2500 per month on marketing, making it the sweet spot in the poll. This includes both digital and traditional channels. Second in the poll, with 20% of small businesses choosing this option, was the $2500-4999 slot.
Their breakdown of company sizes included:
51% of companies polled had 1 (or 0) people on their marketing teams. With technology constantly changing, the demands of keeping up are exhausting for small business owners. Many SMB owners try to take on the daunting challenge of digital marketing themselves, yielding little or no results.
One interesting takeaway from the report was the minimum spend of $750. WordStream argues that spending anything less than $750 per month will be insufficient. The reason being is the spend will not be high enough to obtain consistent data for ROI such as web traffic increase, conversion rate optimization, or social media activity.
Key Notes
- $750/month is the minimum recommend marketing spend
- 29% of small businesses spend $750-2500 on marketing
- 20% of small businesses spend $2500-5000 on marketing
- Over 50% of small businesses have 1 (or 0) people on their marketing team
If your small business needs help with digital marketing or ecommerce please contact us today!
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