News: Small businesses lose £122 billion through lack of marketing

money down the drainSmall businesses are losing billions by failing to properly market their businesses, despite the fact that 87% agree marketing could help improve their sales.

New research from Pitney Bowes suggests small and medium sized enterprises (SMEs) are missing out on up to £122 billion by letting marketing slip off their radar.

The research found that the average SME is only achieving 39% of its planned marketing activity. A third of respondents rated their marketing efforts in the last six months as 5/10, and 11% admitted to not implementing any of the marketing activities they had planned.

Asked what has been holding them back, 35% of SMEs blamed lack of money, and 21% blamed lack of time.

Ryan Higginson, Vice President Digital Channel Europe, at Pitney Bowes said: “There is a great opportunity for savvy SMEs to grab a slice of the £122 billion but to do so they must look for ways to embrace every sales opportunity and maximise profit,”

“Implementing digital marketing is one way of doing this and easy-to-use, low-cost online tools can help set up a digital marketing campaign in under a day.”

For simple online marketing tips, check out our quick guide.


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Kasey writes about the latest small business and website news for bOnline. Find Kasey on Google+, or follow bOnline on Facebook, Twitter, LinkedIn and Google+

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