A recent survey by Yodle stated that marketing was the biggest concern for small business owners. When broken down their marketing worries were stated as follows:
Finding new customers: 42%
Being able to afford healthcare and other employee benefits : 39%
Keeping current customers: 33%
Paying business bills: 33%
Hiring the right people: 29%
And yet when asked about a marketing budget 23% of small business owners do not have a marketing budget at all and 38% had $249 or less to spend on marketing services. Only 3% of small business owners had over $2,000 to spend on marketing.
Perhaps there is a need for all small business owners to take just 10% of their current income and plough that back into a marketing budget. When spent wisely, what difference might that make to their business – especially that bottom 23% with no marketing budget at all?