Poll: Limited Budget Holds Back Marketing Plans for Small Business

By Heather Harmon, Manta Marketing Manager – November 15, 2016

Do you have a formal marketing plan?

No 51.48%
Yes 48.52%

Do you have a formal marketing plan? 


What is holding you back from developing a marketing plan?

Lack of budget 51%
Lack of knowledge 18%
Don’t have enough time to dedicate to marketing 15%
I have enough business without marketing 13%
Lack of resources needed to develop marketing plan 11%

 


How often do you update your marketing plan?

Every six months 66.30%
Once a year 27.58%
Never 3.62%
Once every two years 2.51%

 How often do you update your marketing plan?


Which of the following goals is included in your marketing plan?

Expand my business 70%
Increase sales 62%
Increase brand awareness 48%
Attract new customers 48%
Engage with current customers 48%
Launch new products or services 48%
Improve internal communications 33%

 Which of the following goals is included in your marketing plan?


Do you have a set marketing budget?

Yes 68.35%
No 31.65%

 Do you have a set marketing budget?


How much did you spend on marketing in 2016?

$1,000 – $3,000 19.57%
$3,000 – $4,000 4.35%
$4,000 and up 47.10%
Under $1,000 28.99%

How much did you spend on marketing in 2016? 


How much do you plan on spending on marketing in 2017?

$1,000 – $3,000 15.33%
$3,000 – $4,000 10.22%
$4,000 and up 45.99%
Under $1,000 28.47%

Poll methodology: Between 11/11 and 11/15/2016, Manta surveyed 1,115 small business owners via onsite poll. The margin of error is +/- 2.93 percentage points with a 95% confidence.