Australia’s small and medium businesses (SMBs) are back in market and spending increasing amounts in a bid to regroup after 2020 wiped out growth across much of the market. Most are focusing on digital and performance to deliver quick wins – but the larger SMBs are hitting a tactical ceiling.
Advertising spend from Australia’s 2 million-plus small and medium businesses is broadly back to pre-Covid levels with firms seeking to quickly capitalise on rising demand, according to independent media agencies. However, some are finding lower funnel tactical marketing has its limits.
Until last month, Melbourne’s SMB market was returning in a big way, according to Rivalmedia MD, Joseph Pardillo.
Prior to the latest outbreak, firms that had built out digital infrastructure during the first set of Covid restrictions were spending hard to fill their pipes, said Pardillo
“Those that embraced the challenge and adapted and sped up the need to transform digitally, got up their e-comm infrastructure, reorganised the way they understand customers, geared up and set themselves up, digitally, came out flying.”
This article first appeared in Mi3 - https://www.mi-3.com.au/01-06-2021/sme-sme-different-spend-back-smaller-businesses-more-digital-brand