How is the SMB Market Flexing its Marketing Dollars?

What happens when small and midsize businesses (SMBs) experience sustained revenue growth and gain budget flexibility? They go on a marketing shopping spree.

According to a study conducted by AWeber, 68% of small businesses plan on increasing their marketing budget in 2013 while a full 97% plan on at least maintaining their current level of marketing and spending.  

As MarketingSherpa pointed out, that’s a healthy number of businesses ready, willing and able to commit to new marketing initiatives. These organizations are confident that the economy is moving in the right direction and are seeing real value in making marketing investments. But where are these companies looking to spend their dough?

Web-based marketing is certainly a favored destination. According to Marketing Charts, 1 in 2 SMB businesses spent their marketing service dollars on increasing their “web presence.” The categories that make up the web presence equation for Marketing Charts include web hosting, design and maintenance, and social media.

For a large number of SMBs, full-fledged growth means becoming more visible and accessible to customers and prospects alike. After all, a lot of these companies gain new business through referrals. What good is a referral if the interested parties can’t even find out about your services?

That’s why companies are looking to overhaul their websites by creating engaging content and imagery. B2B client-facing websites are becoming less archaic and more personality-driven by the day. These organizations are also attempting to incorporate SEO and social media tactics as a springboard for generating sustainable website traffic.

In fact, MarketingSherpa conducted a study of their own in which SMB customers were asked which tools they find the most effective for attracting new customers and also engaging existing ones. 60% said social media and 50% said email marketing, so these are obviously critical marketing channels for SMBs.

Find out what other marketing channels should come under the SMB spotlight. Click here for the rest of MarketingSherpa’s breakdown.

We also want to know what you think. How is your business looking to spend its marketing dollars? Give us your feedback below!