Marketing Now ‘Main Spending Priority’ for 45% of Digital Small Businesses
Many small firms are looking to social media to drive business growth, despite 25% admitting to not understanding SEO
Marketing is the main spending priority for 45% of digital small businesses, with 66% set to increase general investment – according to a report by eBay UK.
Other investment priorities for the UK’s small online businesses included expanding their product offering (35%), improving customer service (12%), boosting staff wages (11%), and training or up-skilling their workforce (10%).
The survey of 409 small firms on the eBay platform indicated that 74% of companies are looking to social media to drive growth yet 25% of respondents admitted that they didn’t understand SEO.(See our guide to SEO and keywords here).
61% of the small business owners surveyed also said that they viewed an understanding of marketing and advertising as key to hiring with many considering marketing abilities to be more important than ‘traditional’ capabilities such as accountancy and financial knowledge (50%) and having a degree (26%).
Despite the demand for marketing know-how, the findings suggest there is a lack of focus in this area with the average marketing spend per small business amounting to just £24,000 per year.
Among its marketing tips, eBay has recommended that business owners take up ‘social listening’ to better understand customers, use SEO to ensure customers ‘bump’ into best products, and to have a mobile-friendly site.
Gareth Jones, marketing director of eBay UK, said:
“At a time when many small businesses are expressing disappointment at the availability of funding, they are still savvy enough to know the return-on-investment that increasing marketing spend can have on their bottom line.This is good news for the industry and the economy more broadly.”