Women Business Owners Plan on Spending More on Marketing in 2013

According to research by the National Association of Women Business Owners (NAWBO) and Web.com, 81 percent of the women surveyed were optimistic about their overall business performance for the year ahead. They were also optimistic about the broader economic outlook (74 percent) in 2013.

Figure 1- Outlook for Business and Economy





Economic and outlook optimism
Source: National Association of Women Business Owners (NAWBO) and Web.com




The study was conducted among 552 women business owners (WBOs) across the US, from December 14, 2012 to January 4, 2013. Among some other interesting findings for women:

  • When asked what they see as their biggest challenge to running their business in 2013, 39.3% of WBOs said that it was gaining new customers. To gain customers, 73% of WBOs plan to invest more in marketing in 2013. Specifically, they will invest in social media marketing (36 percent) and search engine optimization (SEO) (36 percent). This is not surprising, as nearly half (44 percent) predict that social media and SEO are the future of small business marketing. Conversely, WBOs anticipated that traditional outreach approaches, including print and direct mail (1.6 percent), online advertising (4.4 percent) and email marketing (6.2 percent), will have less impact on small business marketing in the future.

Figure 2- Change in 2013 Marketing Spend
2013 Marketing Spend
Source: National Association of Women Business Owners (NAWBO) and Web.com
 
 
Figure 3- Future of SMB Marketing Spend
 
SMB Marketing Spend
Source: National Association of Women Business Owners (NAWBO) and Web.com

  • When considering what marketing tactics currently have the greatest impact on a business’ bottom line, more than half (52 percent) of respondents indicated that website design and maintenance was very important, followed by social media marketing and SEO (38 percent) and email marketing (25 percent). And WBOs indicated that LinkedIn (27 percent) is the most valuable social media platform to them, followed by Facebook (26 percent), YouTube (18 percent) and Twitter (17 percent).


Figure 4- SMB Perceived Value of Marketing Tactic
Smb Media Tactics
Source: National Association of Women Business Owners (NAWBO) and Web.com

The National Association of Women Business Owners (NAWBO) and Web.com, have created a great infographic portraying the results of the survey. For this and additional results of the survey visit  www.web.com/community.


 

Jason Peaslee

Jason Peaslee is the Managing Partner of Thrive Analytics, a marketing research and analytics consulting firm. His career spans more than 20 years in marketing, advertising, product development, research, and business management. Before founding Thrive Analytics in 2010, he held several senior leadership roles at AT&T, Reynolds & Reynolds, Berry Network, & The Berry Company.

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