Marketing has always been a challenge for small businesses. Due to budgetary constraints and a limited workforce, small business owners are forced to make tough decisions on what marketing ventures are worth their time. And according to a new study by HigherVisibility, many SMBs are turning their attention online.
The study asked 1,000 small business owners with a website for their business about how they handle their website, social media, online advertising, and more. And according to the study, 88% of respondents said that they believe having an online presence is important for the success of their business.
What’s even more interesting, however, is how small businesses approach their online efforts. Whether it’s managing social media pages, building a website, or advertising online, small business owners would rather keep those tasks in-house. According to the study, 57.4% of business owners handle their own social media pages. 58.6% of owners either used a website builder or designed their websites themselves. And even when it comes to online advertising, 44.4% of business owners manage their paid search campaigns.
These statistics are notable for a variety of reasons. For starters, it shows how many hats an entrepreneur has to wear when starting a business. Not only does it require financial expertise while starting a business, but it also requires marketing know-how once your business is up and running. And according to the study by HigherVisibility, many small business owners might be lacking the knowledge to truly succeed online.
For example, when asked for the primary goal of their website, 38.1% of respondents said that their site was for “general brand awareness.” Another 3.7% didn’t even have a true goal in mind when it came to their website. With such vague expectations, can any small business hope to find a large measure of success?
They also seem to harbor unrealistic expectations when it comes to their online marketing endeavors. 68.8% of SMBs would expect “significant results” to their SEO within 1-3 months if they were planning to hire an SEO company, and yet 44.3% of respondents only budget $1-499 per month when it comes to their online marketing efforts.
Small businesses need to maximize their time and money in order to achieve steady growth. And according to this study, it seems like SMBs are aware that they need to utilize online marketing, but lack the knowledge to do so effectively. And with competition online growing each year, small businesses who figure out how to utilize their online presence will have an advantage in the years ahead.
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