When time and/or budgets are tight, many small businesses cut spending on marketing.
A recent study from Outbound Engine shows how wrong that approach can be.
When it comes to marketing – a little can go a long way!
They found that more than half of small business owners spend less than 5% of their annual revenue on marketing and 5 hours or less on marketing efforts each week.
If you’re looking for ways to cut costs and maximize efficiency maybe marketing isn’t the place to start!
The study also found:
- Small businesses with only minor increases in marketing efforts and budget saw more revenue growth than those who did not increase.
- 81% of small business who invested between 5-10% of their annual revenue last year on marketing efforts saw growth in 2018, whereas 50% of those who invested 5% or less did not see growth.
What are you waiting for? Get started on your marketing plan today!
Not sure where or how to start? SunStar can help you take stock of your current efforts and help identify areas to enhance to get the most bang for your marketing buck.
You can find the full article on the Outbound Engine study here.
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