Does marketing help the return on investment figures for SME’s?
The return on investment figures for small and medium-sized enterprises (SMEs) can vary depending on a range of factors such as the industry, marketing objectives, target audience and the specific marketing strategies and tactics employed.
Studies have shown that SMEs that invest in marketing see a positive return on investement. According to a survey conducted by the Small Business Administration, small businesses that spent 7% of their revenue on marketing efforts had an average return on investment of 150%, while those that spent 1% or less had an average return on investment of 100%.
A study by HubSpot found that companies that prioritised blogging and social media marketing were 13 times more likely to see a positive return on investement compared to those that didn’t.
The success of a marketing campaign will depend on different factors. These can be:
- the quality of the product or service being offered
- the competitiveness of the market
- the effectiveness of the marketing strategy itself
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