Building a growing a digital presence has become a larger focus for small business owners in recent years, as having a strong website and a number of social media marketing initiatives aids in lead generation and customer retention.
According to the recent Local Commerce Monitor research conducted by BIA/Kelsey and research partner Ipsos, in the past year, small to medium-sized businesses have increased their spending on websites and other web properties such as social media sites and mobile optimized sites by an average of $314.
BIA/Kelsey’s research director Steve Marshall reported that although the sum of all yearly spending on promotional material and advertising hovered around $3,000 over the past year, small to medium-sized businesses are proportionally spending more of those dollars on their online presence.
Facebook, Mobile Sites Add to Increased Spending
Social media use is continuing to grow not only with Americans, but also in small businesses that are increasing time on such sites, as well as investments to improve their presence.
Another survey, this one conducted by VerticalResponse on behalf of Business 2 Community, found 66 percent of marketers spend more time than they did on social media. In fact, 18 percent of respondents said they spend 11 or more hours per week on the websites.
The founder and CEO of VerticalResponse, Janine Popick, noted that companies are not only investing more time in social media, but they’re also increasing their social media spending. This can, however, present issues for time management, especially if the SMB owner deals with social media in addition to the many other to-do list items that come with running a successful business.
Spending is also increasing on social media sites, with the survey showing 22 percent of businesses increased their social media spending from one year ago, while 58 percent of respondents spend at least $26 per month for social media publishing and analytics tools.
Digital Platforms Also Playing a Larger Role
Between boosting overall web presence, creating mobile-optimized websites, and tapping into the growing world of social media, SMBs are engaging more frequently and deeply with their customers over a wide variety of digital platforms.
While the use of innovations in technology have made it easier for SMBs to communicate with their customer base, they must have security practices to fight back against potential cybercrime. With a cyberliability insurance policy in place, digital technology can be a great, stress-free way to continue to improve marketing for businesses.