We have good news to report! Small businesses are still purchasing and B2B marketers are investing more marketing dollars than ever in an attempt to reach and retain this ever-important demographic. According to a new study from the Chief Marketing Officer (CMO) Council and Penton, 2 out of 3 business-to-business marketers are investing more in engaging small to medium-sized business (SMB) customers over the next 12 to 36 months. 60 percent of these businesses plan to spend up to 40 percent of overall marketing resources on SMB campaigns (Tweet This!)
In our newest Small Business Pulse report, we gathered data from SMB executives on what they are purchasing and turned it into one big deep dive into SMB's beliefs, purchasing habits and budget forecasts. As the digital landscape continues to evolve and innovative technologies develop, both purchasing behavior and marketing tactics change drastically. In a dynamic B2B marketplace that is constantly maturing, it's difficult to predict your buyer's next move without bluntly asking. This report aims to do that for you.
Notable highlights include:
- Direct mail is still a marketing channel. 7% of SMBs who came to Business.com looking for online marketing services, were also interested in direct mail services. (Tweet This SMB Trend!)
- Mobile marketing services continues to be perplexing. 24% of those looking for web design were also interested in mobile marketing services. Our belief is that mobile marketing is on the rise, but SMBs are having a hard time understanding how to intermingle mobile with their existing marketing strategies.
- SMBs looking for increased cash flow are not turning to loans. Instead, 14% turned to MCA (merchant cash advances) for cash flow which shows a rise in the need for merchant services. (Tweet This Trend!)
The bottom line is that many companies are interested in purchasing products and services that will enable them to better meet the needs of consumers and clients. They've already begun their buyer's journey and were willing to share with us purchases they are looking to make in the near future. With these seven insights, you can begin to polish your marketing and product development efforts this year.
We look forward to hearing your thoughts these 7 SMB Purchasing Trends and how you like this month's Small Business Pulse. Please also share your thoughts on other key areas that you'd like us to focus on in future Business.com Pulse reports. You can download the research here.