Marketing is top priority for small digital businesses
26 July 2016
The study found that a quarter of small business owners claim not to understand Search Engine Optimisation (SEO), but three quarters believe that social media can drive growth. 61% believe that an understanding of marketing and advertising is important when recruiting new staff members. This even tops having a degree, according to 26%.
Other investment priorities for small online businesses include expanding their product offer (35%), improving customer service (12%), increasing employees’ wages (11%) and training their workforce (10%). According to the Centre for Economics and Business Research, the average spend per SME on marketing is £24,000 per year. Marketing Director of eBay, Gareth Jones, says that despite funding challenges, most small business are savvy enough to recognise the return on investment that an increase in marketing spend can have on their business, which he believes is good news for the news for the digital industry and the economy more broadly.
However, it’s not only digital companies that benefit from a good marketing strategy. All businesses should be looking beyond just their own website and social media channels to understand their existing and potential customers and clients.