Study: SMBs at Low & High End of Marketing Spending Spectrum
May 11, 2017 | Contributed by: Joe Morsello
People often talk about “SMBs” as though they were all the same. However there can be significant variation by industry, headcount, years in business and marketing budgets.
According to a new survey, roughly a third (33%) of SMBs expect to spend $1,000 or less on marketing this year while 30% will spend $25,000 or more. This leaves another 37% somewhere in between. Overall, 57% of local merchants said they were increasing their spending this year.
While budgets appear to be increasing, the study suggests there are roughly equivalent numbers of SMBs at the low and higher-spending ends of the marketing spectrum. This presents an obvious challenge to marketing services providers. How much of the market do they want to cover and what do they offer to those segments?