SMB marketing – deep dive

While close to half of surveyed SMBs are confident that their marketing efforts are effective, some 43 percent are simply not sure, pointing to some systematic gaps in marketing measurement within this sector. Nonetheless, small enterprise owners do see merits of using certain forms of marketing. For instance, social media and the company’s own website are considered the most successful marketing channels. Indeed, small business owners are planning to increase their usage of key marketing channels in the future and will focus predominantly on digital marketing methods.

SMBs are embracing digital marketing

When it comes to spending on digital advertising, small businesses have a rather modest budget. In 2021, average monthly expenditures on digital ads amounted to a little over 500 U.S. dollars, but more than 90 percent of responding small businesses planned on keeping or increasing their spending level. E-mail is cited as the most effective digital marketing channel for SMBs. Social media and website/landing pages follow. Unsurprisingly, Facebook is the leading social network used by small businesses for advertising purposes, with YouTube and Instagram ranking second and third respectively. In total, local digital ad revenue is estimated at around 61.5 billion dollars – some 14 billion less than revenue from traditional media.

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