Fast Company
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Most small business owners have no clue if their marketing is working. That isn’t stopping them from spending more on it
Small businesses are increasing their marketing budgets but lack confidence in their marketing effectiveness. Only a small percentage of small business owners feel very confident about their marketing's success, a decrease from the previous year. This lack of confidence exists even as businesses feel pressure to achieve positive results. Most small business owners report they are not confident their marketing efforts are yielding results. Despite this, overall small business sentiment in the US has increased, showing optimism for future business conditions. Nearly half of the surveyed businesses are using AI tools for marketing, such as copywriting and content creation. However, US-based firms have a lower AI adoption rate compared to the UK, Australia, and New Zealand. A lack of expertise and guidance may be hindering broader AI adoption in the US. Despite the confidence gap, interest in AI marketing tools is predicted to continue growing. Ultimately, many small business owners are unsure about what marketing strategies will resonate with customers.