Most small business owners have limited financial resources and little spare time. Constant Contact calls these entrepreneurs the quintessential do-it-yourselfers. The firm's new survey on SMB owners shows they have come up the learning curve on digital marketing very well but they would love to outsource specific tasks, especially social media.
Currently, SMBs are outsourcing some of their traditional and digital marketing needs, especially those that require too much time:
- TV/Radio 40%
- SEO 35%
- Online/banner ads 23%
- Website 22%
- Local print ads 20%
Christopher M. Litster, senior vice president of sales and marketing, Constant Contact, says that conquering something like Google Analytics is too time consuming for most SMBs to handle in-house. Most business owners feel their time would be better spent focusing on the core revenue-generating activities — in areas where they are likely very expert.
Another big challenge for SMBs is the time required to manage some of the new digital media formats. Social media is a channel that can yield big insights into the customer base and strengthen loyalty but many business owners find it difficult to know where to draw the line regarding the amount of time they should invest in the format. About 3% of surveyed businesses outsource their social media needs. However, 19% would like to do so. About 50% of SMBs would also like to outsource their SEO needs.
The survey also revealed that finances are the key reason that SMBs don’t outsource more of their marketing needs. On average, SMB owners say that each hour in their workday is worth $273. Marketing services businesses and ad agencies may want to use that number as a starting point in their conversations with SMB clients regarding how much money they can save them, especially with the task of managing their social media needs.
To learn more about small business owners, check out the AudienceSCAN report available on the Research Store at ad-ology.com.