Tuesday, February 10, 2015

Stop Fearing Online Marketing Budgets

Although 94 percent of SMBs admit that internet marketing is effective, 64 percent of business owners handle their online marketing on their own. This is often due to the fact that budgets are limited. However, business owners need to stop fearing online marketing budgets and spend more as it's an investment. The more you spend on online marketing, the higher your ROI. Essentially, the increase in profits will cover the added marketing expense.

Courtesy BrightLocal
According to a survey by BrightLocal, only 34 percent of those surveyed spend less than 10 percent on online marketing. 50 percent spend less than 30 percent, while only 29 percent spend over 70 percent of their marketing budgets on online channels. As a result, they rely on word-of-mouth to further their success.

While word-of-mouth is valuable, it's not the most effective means to generate an ROI. With 75 percent of SMBs admitting online marketing drives new customers, they remain hesitant to increase their online budget.

Small business owners need to stop fearing their online marketing budgets. By spending more to invest in their future, business owners will increase profits to prevent any financial loss from the increased budget.

For those who are handling their online marketing on their own, the best route is to hire a professional online marketer to increase the likeliness of a return on their investment.

Don't let the fear of cost hold you back from an almost certain guarantee of increased profits. Reevaluate your marketing budget to allow more room for online marketing.

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