How Much Money Do Small Businesses Spend On Their Marketing?
Jonathan Dolan, Owner at Off Main Marketing – Published on December 21, 2023
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This post is a simple report on How Much Money Small Businesses Spent on Their Marketing In 2023.
Feel free to send us a message if you have any questions, and I hope the advice in this post is helpful in your marketing journey!
Here Is The Percentage of Revenue Small Businesses Spent On Marketing In 2024
According to Gartner, small businesses spent an average of 9.1% of their revenue on marketing in 2023. The famous research and consulting firm also added that 94% of small businesses plan to increase their marketing budget in 2024.
After a low of 6.4% in 2021, small businesses across the country have increased the percentage of their revenue spent on marketing in the past two years.
Given the economic climate, most businesses are cutting costs everywhere they can, but with sales being harder to come by, the need for high quality marketing that outperforms your competitors is paramount.
What do you think is a good percentage of revenue for the average small business to spend on marketing? 🤔
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