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SMBs Now Spend More Than 1/4 of Marketing Budgets on Digital Media

October 01, 2014 · zettamobile
[as posted on Street Fight 9/30/14, by ]
FloristA new report released by local marketing research firm Borrell Associates paints a rosy picture for the immediate future of local marketing — as long as the industry can overcome a few barriers .

The report, which drew from a survey of over 2,000 SMBs, found that small businesses now spend more than a quarter of their budgets on digital media with robust growth in the social media and mobile advertising sectors. Four out of five of the businesses surveyed said they had a presence on social media and a little over 11% said they invested in mobile advertising last year.

“Given all the evidence we’ve compiled, there is no reason it can’t grow at multiples of the rate it’s growing now, and it’s growing very quickly,” said the company’s EVP Kip Cassino. “We’re talking to mostly very small businesses, and more than nine out of 10 have a web presence that they’re aware of and take care of every day.”

Cassino said that the study shows that although just about every small business has a web and social presence, many of them don’t understand how to get the most out of it.

“A lot of them were very confused as to what they can and can’t do and what this technology means,” he said. “They don’t understand retargeting very well. They’re not very sharp on metrics to measure whether their web presence is doing them good or not. “

The research firm estimates that small businesses will spend just over $500 billion on digital marketing in 2014. But many of them don’t even realize there are professionals out there available to help them with that side of the business, says Cassino.

Click here for the rest of the story http://streetfightmag.com/2014/09/30/smbs-now-spend-more-than-14-of-marketing-budgets-on-digital-media/

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