Zoomerang and GrowBiz Media just released the results of their 2010 Small to Midsized Business Marketing Practices Survey and the findings indicate how businesses spent marketing dollars in 2010 and what 2011 might look like. 751 business with 1000 employees or less were surveyed.
Social Media Use
35% of the small to medium sized businesses surveyed use social media.
Business use (in order of popularity): Facebook, Twitter, LinkedIn, Gowalla, MySpace, Facebook Places, Foursquare, Groupon, Yelp.
Those under the age of 30 are adopting social media at the highest rate.
Annual Marketing Budget
55% of businesses surveyed have a marketing budget of less than $1K
20% have a marketing budget between $1K – 9K
3% have a marketing budget between $250K – $500K
Only 54% of businesses surveyed have a website.
Only 13% of those surveyed with a website have a blog.
30% engage in E-commerce.
84% of business owners are primary decision makers, while only 2% have a head of marketing who makes decisions related to marketing budget.
Predictions for 2011
17% of business will increase marketing budgets for their website and 47% will keep the budget the same.
Only 3% of business will increase their budget for TV advertising. 4% will decrease their budget.
What the Survey Means for Small Business
Not only does the survey show some surprising figures (nearly half of small businesses don’t have a website), but it also represents incredible opportunities. Businesses that invest in web design, emerging social media platforms, search engine marketing, and SEO can quickly gain a leg up on competitors. View the entire survey here