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Digital Marketing Statistics: What Will Drive Small Businesses to Invest More in the Last Quarter of 2016?
28 million small businesses power the economy with goods and services across the nation. But, how do small businesses enhance their digital marketing strategy? 96 percent of the small businesses say that they use social media in their business strategy. However, only 32 percent actually take social media marketing seriously. Moreover, only 25 percent are engaged in other forms of internet marketing. To make matters worse, only 17 percent actually invest in SEO.
A Growing Concern: Lack of Involvement in Digital Marketing Strategies
From the digital marketing statistics above, it is clear that many small businesses are not involved in digital marketing. Unfortunately, many small business owners:
- Lack the requisite knowledge in marketing
- Fail to outsource their marketing skills to expert digital marketers
- Do not appreciate the potential of digital marketing in driving brand awareness and sales.
- Are not sure of the best platforms to invest in digital marketing
As the Founder & CEO at Digital Neighbor, a Tampa digital marketing agency, Eric Ritter believes that “As marketers we must focus on the client, as well as their beliefs to achieve their desired outcome. However, too many only focus on creativity and output instead. Without defining the desired outcome and measuring it in-depth your clients will not be able to see the big picture, which leaves much room for doubt. If they don’t trust you, they will not invest. Once you show them that your results meet the desired outcome, they will be eager to invest more into their marketing budget. This will creates synergy and a win-win between clients and digital marketing agencies.”
It is not too late to become involved in your own digital marketing. Small business owners can still make strides in digital marketing in the last quarter of 2016.
Why Involvement in Digital Marketing Strategies is Vital for Your Business?
70-80 percent of the people research a company online before they visit the business in person to make a purchase. Therefore, if you are not online, you are not being seen and you will lose business opportunities in the thousands.
80 percent of people look for online reviews to learn about a company. They want to hear what others have to say before deciding to buy. This is the reason why Yelp and other review sites are so popular. They allow customers to post reviews without influence from the business owner. However, they also allow the business owners to reply, which shows these businesses are involved.
Online marketing opens up new market fronts that you may otherwise not have reached. Moreover, digital marketing also gives the highest return on investment (ROI).
Major Drivers Pushing Higher Digital Marketing Investments
- The need to capitalize on social media: 78 percent of the U.S population has at least one social profile. Businesses will be looking to reach social media users with different offers.
- 43 percent of SMBs have their eyes fixed on improving customer experience and retaining existing customers to grow revenue. Digital marketing offers the avenues needed to connect with customers.
- 72 percent of consumers that did a local search visited a store within 5 miles. In fact, 50 percent visit a store within a day of a local online search. Investing in local digital marketing services increases the likelihood of getting more customers.
- 52 percent of mobile users look for a business’s physical information on its website, and 47 percent would like to see the driving directions. Businesses seeking to gain more customers will be investing in mobile in the last quarter of this year to ensure that mobile customer can find them.
- 1 in 5 small businesses have not invested in digital marketing (50% do not even own a website). Owners will be looking compete on equal footing.
- To take advantage of sales seasons such as Black Friday. According to Custora, in 2015, Black Friday 25.1 percent of all transactions were driven by email marketing, 21.1 percent through organic search, and 16.3 percent on paid search. This is why now is as good of time as any to invest.
Q4 2016: The Leading Drivers for Digital Marketing
The biggest drivers for investing in digital marketing will be the need for online visibility, the need to get new customers, and to create lasting relationships with the existing customers. Season sales seasons such as the black Friday will be bringing more small business online as they look to capitalizing on the sales buzz. Thus, many small businesses will get more involved with social media and social media ads.
Since many small businesses are not yet investing in digital marketing they are missing lucrative opportunities in the marketplace. Unfortunately, this also gives them limited ability to connect with their customers through desktops and mobile devices. Digital marketing will give businesses a wider scope and enable them to reach and manage its market. Thousands of small businesses are expected to become more involved with digital in their marketing strategy to maximize on their investments.