Small 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.”
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