Why We Need a New Approach to the SMB Market
October 26, 2016 | Contributed by: Joe Morsello
The path to purchase has become much more complex in the past decade as consumers use more sources to make buying decisions. Small businesses are now forced to use nearly eight marketing channels to keep up. Media sellers who serve the small businesses market also continue to grow their product portfolios.
However, based on a new LSA and Camilyo report, the current practice of selling independent marketing solutions doesn’t work any longer. In a webinar this week, Greg Sterling and Ziv Koren of Camilyo explored the need for a new framework in local marketing – one which addresses the “customer funnel” more holistically.
Kicking off the discussion, Greg shared some interesting results from two parallel surveys related to this topic. Here are some of the key data points:
- 83% of marketing providers said every stage of marketing funnel needs to be addressed for SMBs.
- SMBs say the top three most “essential” digital marketing methods are website (83.5%), social media (68.2%), SEO (68.2%).
- 67% of SMBs are not working with a marketing provider.
- Among SMBs using outside firms, 88% were using 1 -2 firms or marketing services providers.
- 62% of SMBs say marketing is not effective or they aren’t sure if it is.
View the entire webinar replay below.
For access to all of LSA’s past webinars, visit http://bit.ly/LSAwebinars.