Small business owners are showing more confidence in social media. So, in effect, they’re planning to spend more money on social media marketing – in hopes of getting greater, more valuable ROI.
This is one of the takeaways from a recent survey conducted by marketing research firm Ad-ology Research, which also found that SMB owners are turning their attention to website development, search engine optimization (SEO), and online review monitoring and review management.
According to Ad-ology’s “Small Business Marketing Forecast 2013,” close to 3 out of 5 US biz owners (with less than 100 employees) said they plan to increase spending on social media efforts, including: marketing on Facebook, Twitter, LinkedIn, etc.; investing in promoted posts or sponsored tweets; and integrating social media games, widgets, apps, and contests in their marketing mix.
It’s not just social media, though. Small businesses are intent on building – in general – a much stronger presence on the Web. In fact, the same study showed that 23.4 percent of US biz owners said they plan to invest more in developing and designing their company website; 20.5 percent, meanwhile, are focused on putting more resources toward SEO. Online reviews are also being given greater attention: close to 20 percent of respondents said they aim to encourage customers to post online reviews, ratings, and comments on online review aggregators like Yelp, Google+ Local, Foursquare, and TripAdvisor.
“It’s the third year in a row where more than 90% of small businesses say their advertising budget will remain flat or increase,” said C. Lee Smith, President and CEO of Ad-ology Research, in a press release. “(Also), more than half of all small businesses are confident that their sales will increase.”
“Small Business Marketing Forecast 2013” was conducted from October to November of last year. It is based on the results of a survey of over 1,400 small business owners, sales managers, and advertising / marketing managers across the U.S.