Study reveals key findings in how marketers will shift marketing dollars over the next 2 years.
We just came across this brand new study, where the authors interviewed 300 marketers who revealed their plans for digital marketing in the next two years, and the results that relate to small businesses in particular are amazing.
According to the study, the under 1 million category spends the majority of their budget on digital marketing but does not have a good handle on how to track it, with 63% having no idea what their conversion rate is for each channel.
74% plan to spend less than $2,000 on paid media, 72% plan to spend less than $2,000 on email marketing, 69% plan to spend less than $2,000 on conversion rate optimization and 72% plan to spend less than $2,000 on social media marketing. Obviously haven’t heard the old saying, “Spend money to make money”.
We recently published an article on Marketing Automation ideas which would have helped these people.
This new study is well worth reading for all business owners, but in particular the small business owners out there. Grab a copy now, it’s free.
San Diego-based Ignite Visibility recently released a new study which highlights a growing shift in digital marketing.
The study surveyed businesses in six revenue brackets – under 1 million, 1 to 5 million, 5 to 10 million, 10 to 20 million, 20 to 50 million and over 50 million – in order to gain insight into how they would be investing in digital marketing over the next two years. Additionally, the study analyzed which digital marketing channels would be most popular.
“It’s incredibly important to be forecasting ahead and making sure you have the right digital strategy,” says Ignite Visibility CEO John Lincoln. “ We’re dedicated to bringing best-in-class insights to the industry so marketers can have the most effective strategy in place.”
The findings reveal an overall shift toward online marketing channels across all business categories. They also reveal that many smaller businesses still struggle to effectively measure ROI and conversion rates. Furthermore, social media is by far the hardest channel for businesses to manage.
“We’re seeing a large shift from offline to online because digital channels are more trackable and generally produce a higher ROI,” continued Lincoln. In the study, we also say clear divisions in the business size and type of digital marketing channel they liked the most. But overall, social media marketing seemed to be a big pain point for all marketers.”