Many small businesses have decided to cut their marketing budget, however this can end up hurting your company more than you realize. Spending more money on marketing during an economic downturn can help your company get ahead when the economy turns around.
There is a direct relationship between the success of a small business and its marketing spending, according to the “Small Business Marketing Health Check” report from Hurwitz & Associates.
About 65% of small businesses that expected increased revenues had raised or planned to raise marketing spending, compared with just 32% to 36% of businesses with flat or declining revenues.
Small businesses are also changing their marketing plans to cheaper online media. The top marketing tools were social media, e-mail newsletters and search.
“The survey clearly reveals that the use of low-cost Web-based marketing tools is playing a strategic role in helping businesses succeed,” said Laurie McCabe, partner, Hurwitz & Associates, in a statement. “Making a few changes to incorporate more online tools into the marketing mix seems to be a key ingredient to small business success.”
In the end, it is important to not neglect possible ways to keep your company growing. Want more information on how to increase your company’s reach? The experts at OneIMS will guide you through a variety of available options within your budget. For more information, contact OneIMS today at 1-888-ONE-IMS-1, or send an e-mail to info@oneims.com.
