Williamsburg, Va.—Small and midsize companies are dedicating an average 72% of their total online budgets to marketing services, compared with 16% to online promotions and 12% to online advertising, according to a new report from Borrell Associates.
The report, “What SMBs Spend on Digital Marketing Services,” found that the average SMB spends about $17,000 annually on online marketing services.
A midsize business with more than 50 employees spends an average of $63,000. One with fewer than 50 employees spends less than $500 a year on average—just enough to pay for website hosting and email list management, the report said.
The Borrell report was based on an estimate of online spending by more than 23 million U.S. and Canadian companies.