Up to two-thirds of small businesses intend to increase their current expenditure over the next 12 months, with 45 per cent of them looking to place a greater focus on marketing, according to a survey by ecommerce giant eBay.
The findings come at a time when the way marketing content is delivered is rapidly changing, with small businesses missing out on potential clients and income if they are not able to reach their target audience.
The survey revealed that a quarter of the businesses admitted they have ‘little or no understanding’ of how search engine optimisation (SEO) works. As companies compete for visibility and customer engagement in a now digital world, an understanding of search marketing is essential.
However, more than 70 per cent of participants indicated they are well aware of the potential bounty awaiting those who connect with customers via social media, aiding company growth.
The small businesses surveyed also realise there is no point in successfully engaging customers through content such as news feeds if the product is not up to scratch, with 35 per cent saying they are looking to expand their product ranges.
Customer service also cropped up as an area to focus on, with 12 per cent of the small businesses involved looking to improve their points of contact with customers, which can be crucial to the success of smaller companies.
eBay UK Marketing Director Gareth Jones 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.”
Jones added that he believed this would auger well for both the small business sector and the wider economy.
