Business development Praseeda Nair · 13 October 2016
Two-thirds of ecommerce startups plan to increase marketing spend over the next year
Startup owners in the ecommerce industry are planning to increase existing marketing budgets in the next financial year, according to a new report. A survey conducted by media company MC&C found that two-thirds of respondents planned to increase existing marketing spending over the next 12 months, while just ten per cent said they had no plans to do so. Spending on digital marketing tools was found to be a major consideration, as a further two-thirds planned to increase budget proportion on online channels alone. Commenting on the study, managing director at MC&C, Mark Jackson, spoke of the major role that marketing now plays in the profits of a small firms, stating that marketing is an essential engine of growth, not a cost of business. the clich? that half of all advertising is waste and no one knows which half should be confined to the dustbin of history. Marketing is an essential engine of growth, not a cost of business, Jackson added. However, a tendency for DIY? marketing was highlighted in the research, with 59 per cent of small online retail owners operating their media buying in-house. Further to this, some 22 per cent of respondents admitted to having little idea of how effective their marketing was, or having any parameters in place to measure success rates.
ABOUT THE EXPERTPraseeda Nair
Praseeda Nair is an impassioned advocate for women in leadership, and likes to profile business owners, advisors and experts in the field of entrepreneurship and management.