In recent years, it seems most SMBs are now aware that online advertising will be effective and will probably last a long time. It is reported that more businesses are responding to this evolution by investing more on marketing (especially in the digital segment) because it provide a more easy reach to the target audience. It is also more easy to gather data on target audience. Using the captured data, SMBs can process the data to information that will assist marketing decisions.
In the past, Small and medium-sized businesses do not really invest on marketing, they are not enthusiastic about it. This might be due to insufficient funds to sponsor marketing and advertising as they will be required to own or manage a website and also have a strong social media follower ship and presence. The cost of running a digital ad campaign can be unaffordable and also time consuming for small businesses.
The shortage or lack of man-power had also prevented SMBs from utilizing digital marketing. In recent years, digital marketing has developed the marketing field owing to the presence and invention of impressive marketing tools and moderateness which have proven to be better than the previous traditional ways.
Marketing spending by IT companies
More also,digital marketing is generally quite inexpensive and effective. The social media has also performed effectively and efficiently in influencing the influx of SMBs into digital marketing. It is quite affordable for an average SMB which is one of the reasons why the use of social platforms by the SMBs is increasing.
Over 90 percent of SMBs now consider that a social media presence is very important and most of them are planning to utilize the platform for their marketing. Examples such social platforms are Instagram, Twitter,Facebook, Pinterest etc. Facebook is one of the most used for SMBs for advertising. Most of SMBs have expressed satisfaction in the effectiveness of their Facebook ad campaigns.
When compared to TV commercials, a Facebook ad is long lasting and is very powerful for targeting potential customers locally when they access the social platform.
Small and medium-sized businesses (SMBs) are putting much effort and investment into effective utilization of digital marketing products and services that are available and affordable to them. Most small businesses are putting more funds into advertising and marketing, especially on online platforms, than ever before. Marketing is a process in business activities that requires the study and proper management of business relationships.
Digital marketing spend by industry
According to the American Marketing Association, it is defined as “the activity, set of institutions, and processes for creating,communicating, delivering and exchanging offerings that have value for customers, clients, partners and the society at large”. It deals with the creation of good relationships and satisfaction of consumers. Advertising is a marketing process with requires communication with the consumers, to promote or sell a product or service, through the use of openly sponsored, non-personal message.
It was predicted that most (75 percent) of small business marketers are more likely to have spent more on advertising and marketing in 2017.