Small and medium-sized businesses pay particular attention to their finances and annual budgets before they decide whether to spend more or spend less for online marketing. The big question is where SMB’s will put their marketing dollars in 2017. To ensure the company’s financial performance, it is important to make a detailed plan of the marketing portion of the annual budget. Online marketing must be the top budget priority for the coming year because:

1. Online competition is getting fierce – According to a recent CMO Survey report, digital marketing is increasing while spend for traditional advertising is falling. Majority of businesses that have been interviewed revealed an increase in marketing spends for email, social media, mobile marketing and online display advertising. Businesses plan to increase their social media marketing spend on Facebook and YouTube by creating content customized for their target audience.
2. Online marketing has higher ROI – social media marketing is more affordable. Results of the social media campaign can easily be tracked based on data available through Google and the social media platform. It is also important to consider the viral nature of the internet that enables the message to be shared quickly. In traditional marketing, pamphlets and flyers have to be distributed to spread the brand’s message.
3. Online marketing should focus on SEO – At the top of list of SMB’s is to allocate a larger part of their marketing budget to SEO and PPC because they believe that websites and search engines are the primary drivers for consumers searching for local products and services.

Through online marketing, it does not take very long to gain an online presence. If the marketing budget does not allow for different types of online promotional strategies, remember that content on your blogs, website and social media channels is still the king.

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