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“What creates two out of three net new American jobs; produces close to half of our nation’s goods and services (nonfarm private GDP); and can be found, coast to coast, in every small town, big city and rural enclave?”
That was Marla Contreras-Sweet, Small Business Administration Administrator, and the answer is the 28 million small businesses that drive the economy and provide goods and services across the nation. These 28 million small businesses in America account for 54% of all U.S. sales (2017).
In honor of Small Business Week, a yearly event that began with a presidential proclamation in 1963, we compiled a list of the 29 most compelling small business digital marketing statistics available in 2017.
93% of online experiences begin with a search engine (2016), and 47% of people click on one of the first three listings.
Use this list not only as a gauge of where your small business stands in the pack, but also to make strategic decisions in your digital marketing game plan for 2017 and beyond.
For example, while 77.6 percent of SMBs (2017, up from 73.2 percent in 2016) say they use social media in their marketing strategy, only 32 percent of SMBs seriously invest in social media marketing. Considering 81 percent of the entire U.S. population has at least one social media profile (2017), maybe that’s an opportunity you should jump on before it becomes mainstream among small businesses in your industry.
SMBs + Digital Marketing: Did You Know…
- Less than 8% of total B2B product sales are closed directly through the Internet, versus 15% for B2C products.
- Studies show that between 70-80% of people research a company online BEFORE visiting the small business or making a purchase with them.
- 28% of SMBs say word of mouth is the most effective way to attract new customers, and 20% say SEO is.
- Most small businesses focus on increasing revenue (72%), but they also see a great value in establishing new customer relationships (60%), and marketing and advertising (46%). (Business Insider 2017)
- 43% of SMBs says that improving customer experience and retention is their top strategy to improve revenue growth.
- 30% say that keeping up with technology advances is a major concern of small business owners.
- Driving sales (51.3%) and building brand awareness (48.4%) are the two top digital marketing priorities for small businesses (2017)
SMBs + Digital Marketing: What Platforms Are U.S. Small Businesses Investing In?
- 96% of SMBs say they use social media in their marketing strategy.
- Almost 90% of marketers say their social marketing efforts have increased exposure for their business, and 75% say they’ve increased traffic.
- 32% of small businesses invest in social media marketing.
- 25% of small businesses invest in online marketing.
- 17% are investing in search engine optimization (SEO).
- 26% are investing in email marketing.
- 50% of small business owners use 2 or fewer software platforms or applications in their marketing.
- Email, website, and social media are the top three marketing tools used by small businesses:
- 54% email
- 51% website
- 48% social media
- Less than 30% of small businesses use Web site analytics, call tracking, or coupon codes. 18% of small businesses admit to not tracking anything.
- 56% of those with a website say their website has a responsive design.
SMBs + Digital Marketing: Let’s Talk About the Money, Honey
- 1 in 10 SMBs don’t invest in any kind of marketing.
- 71% of small business owners do their own digital marketing, instead of leaving it to experts. (2017)
- 1 in 5 SMBs don’t use digital marketing yet.
- 60% of SMBs do not have a website, and of those, 30% cite cost as the reason why and 35% feel their operations is too small to warrant a website (2016).
- 50% of SMBs spend less than $300 per month on online marketing.
- 62% of small businesses are investing 4% or more of their revenue on marketing.
- 37% of small businesses plan to increase their digital marketing spend in the next 12 months.
- 47% of small business owners handle marketing efforts on their own. (LeadPages)
Small Business Digital Marketing with Blue Corona
We’ve helped more than 200 small businesses take their company to the next level, and we love doing it. Call us nutty, but we really do operate like a family, so it makes sense that we have a soft spot in our hearts for businesses that operate the same way. If you think your small business could benefit from digital marketing, give us a call. We’ll set you up with a free analysis and treat you like one of the fam.
Happy Small Business Week!
About The Author:
Betsy is the social media team lead and a content marketing specialist with Blue Corona. When she’s not managing social media marketing campaigns or writing badass blog posts she’s practicing Muay Thai, hiking with her dog or teaching kids how not to fall off a horse.
View more blogs by Betsy McLeod