Dive Brief:
- SEO management firm BrightLocal teamed up with ChamberofCommerce.com to conduct a study on the digital marketing attitudes and use of digital marketing among small- to medium-sized businesses (SMBs).
- On average, 46% of the marketing budget of SMBs was dedicated to digital marketing. About 24% of SMBs still only spend 10% of the marketing budget on digital, while 28% spend more than 70% on digital.
- Those numbers may stay fairly steady, as 32% of respondents said they will not increase spending on digital, as opposed to 21% who said they will.
Dive Insight:
It's not surprising that so much of SMB marketing budgets are dedicated to digital, because it tends to have lower overhead costs and can be an extension of word-of-mouth marketing. What is surprising is that so many SMBs say they don't have plans to increase budgets in the near future, which could mean digital marketing has reached a saturation point or SMBs have found a good balance at that average digital spend of 46% and other marketing methods.