Half of small business owners lack a marketing strategy for 2019
A new survey of small and medium business (SMB) owners from marketing automation software firm Outbound Engine offers insights on revenue growth and marketing efficacy, as well as stressors and preferences that inhibit the development and execution of marketing strategies.
A critical finding of the report, Stress, Time & Growth: Factors Affecting Small Business Marketing in 2019, is that many SMB owners do not have formalized marketing goals established for 2019. In fact, nearly 50 percent of those surveyed do not have a marketing plan for the year, and 58 percent only spend five hours or fewer on marketing each week.
“There is a common misconception among small business owners that marketing requires a lot of time and money to produce the results needed to grow their business,” said Marc Pickren, CEO of Outbound Engine, in a news release. “The secret to an effective, stress-free marketing plan lies at the cross-section of affordability and efficacy. Today’s business owners, who are often not marketers by trade, have plenty of tools at their disposal to help achieve this balance.”