Small business owners are often lost as to how much of their budget to devote to marketing their company. They don’t know how much they should dedicate to traditional marketing with banner, signs, radio and TV commercials, and they are confused by how much to spend on online marketing and social media.
Surprisingly, the average small company only spends $2,000 on marketing in a year and most businesses could use some more marketing spend to grow their brand (52%). More than that, 47% of business owners said that just $5,000 would significantly help or even save their business. If they were given $5,000 the number one thing business owners would spend the money on is more marketing and marketing materials.
In this infographic from Coastal Creative Reprographics we look at where the state of small business marketing budgets is and how much companies should be spending on their future budgets.
Infographic Source: Coastal Creative Reprographics