Small Businesses Report Growing Optimism, Investment In Marketing
Most small businesses have high hopes for 2015, with 67 percent expecting their annual revenues to exceed 2014’s figures. Email marketer Constant Contact’s survey found that while the economy’s health is an obstacle, less than half of respondents—46 percent—say it’s taking a toll on their business.
Looking ahead, small businesses are reporting a more cautious outlook. Constant Contact’s data found that 78 percent expect 2016 revenue to increase—44 percent are expecting an increase of 10 percent or more; 34 percent expect an increase of less than 10 percent. The holidays invoke less confidence. When owners of B2Cs were asked if they expect 2015 holiday revenue to exceed 2014 holiday revenue, 40 percent said yes, 26 percent said no and 34 percent were unsure.
Challenging business conditions have, however, led to better marketing, as 71 percent of respondents say that external forces, such as the economy and increased competition, have forced them to become better marketers. Sixty-eight percent of respondents say their businesses are marketing more today than they did two years ago, with 60 percent spending more time on marketing per week than two years ago. More than half (52 percent) say they squeeze in their marketing activities anytime they can, day or night. Twenty-four percent say they conduct their marketing activities anywhere by using their mobile device.
“The fact that the majority of small businesses are marketing more than in the past, and expecting higher year-over-year revenues, indicates that their marketing is likely working,” says Christopher M. Litster, senior vice president of sales and marketing, Constant Contact. “There’s no doubt that the proliferation of mobile devices and affordable online marketing tools have helped small businesses persevere, and even thrive, during some rocky times.”
Click here for more on Contant Contact’s findings.