A new survey conducted by GrowBiz Media and Zoomerang claims that small and mid-sized business are planning to increase their marketing budgets in 2011. The study, which involved 750 businesses of fewer than 1,000 employees, found that the growing role of social media as a marketing platform was one of the major reasons for the new budget goals.
However, the study reports that new marketing initiatives by small and mid-sized businesses' will include a balanced mix of both print and online methods.
In light of recent reports showing gloomy economic conditions and outlooks, Monday's report suggests hope for the stalling recovery, as most see small business development as indicative of nationwide economic development.
"Once again small and midsized business owners have shown their willingness to embrace new ideas and marketing methods," said Rieva Lesonsky, CEO of GrowBiz Media. "It's also encouraging that these business owners are planning to increase their 2011 marketing budgets, which will hopefully lead to an overall economic boost in the country."