A new survey conducted by Staples has found that one third of small businesses are moving away from traditional advertising in place of viral and word of mouth marketing.
The study asked the opinions of 500 random businesses that have 20 employees or less.
Staples also found that two thirds of small business owners have a marketing budget for the year ahead, an average of over $2,000 per business.
The survey discovered that 35% of businesses have increased their social media presence in the past year and that seven out of 10 small business owners are optimistic about the future.
“With more than 25 years of experience working with our core small business customers, we know that investing in marketing to grow a small business is essential, yet many do not have the money to do so,” said John Giusti, vice president of small business marketing at Staples.
The survey also indicated that over 50% of small business owners want to do more marketing and advertising, but budgets will not allow it.
“Successfully marketing your small business is the life blood of any company, but with limited budgets, entrepreneurs must be creative and resourceful,” said Rieva Lesonsky, CEO and President, Grow Biz Media/SmallBizDaily.com. “Any marketing boost that they receive from a program such as the Staples ‘Give Your Small Business the Push It Needs” can make all the difference in the world, especially in the current business climate.”
Staples have also reported annual sales of $25 billion and is now ranking second in world eCommerce sales.