UK Small Business Marketing Statistics
At the start of 2019, there were 5.8 million small businesses in the United Kingdom, which was a 3.5% increase compared to the previous year. Small businesses were 99.3% of the total businesses in the whole country. These SMEs employ less than 50 workers and account for about 60% of all employment in the UK, or about 16.6 million workers. Contributing to half of the economic turnover in the private sector at around £2.2 trillion, SMEs make a crucial contribution to our economy. For small businesses, marketing is crucial for competing and informing potential customers about products.
One of the most important marketing approaches for small businesses in the UK is social media. Twitter and Facebook are valuable marketing channels for them. The Office for National Statistics reported that about 57% of small businesses in the United Kingdom use social media for marketing purposes. About half of all small businesses put social media links on their official websites. Yet, only 39% of small businesses actively use blogging for marketing purposes. There is a big gap compared to larger companies, because businesses with more than 1,000 employees in the UK use blogs to interact with the audience.
You Need A Digital Marketing Agency London
With the current state of affairs, small business owners need to contact a social media agency London business owners trust to help them create effective social media and digital marketing campaigns that will enable them to engage better with their customers.
About 52% of advertising spending in the United Kingdom is focused on digital advertising. Digital platforms have surpassed traditional marketing channels, including printed press, cinema, outdoor media, radio, and television. For small businesses in the United Kingdom, Internet advertising is growing rapidly. Paid for search currently accounts for about 50% of online advertising in the UK and it’s highly effective for small businesses. As a result, online media consumption is getting higher. Internet advertising expenditure in the United Kingdom in 2008 was £3,508m and in 2017, it increased significantly to £11,553m. This was equal to an annual growth of 14%. 2017 was a historic year for advertising in the United Kingdom, because Internet advertising has surpassed other platforms.
Influencers Help Small Businesses Compete
Small businesses need to work with influencers to compete more effectively with bigger companies. At the moment, there’s still limited data about influencer marketing among small businesses in the United Kingdom. However, it is estimated that influencer marketing expenditure in the United Kingdom is about 1% of the entire online advertising expenditure. The UK has a mature online advertising industry based on international standards. In 2017, the online advertising spending in the UK was larger than three other major European countries, Russia, France, and Germany. The online advertising industry will continue to thrive in the United Kingdom.
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