A recent study from Campaign Monitor and Market Cube on small and mid-size businesses use for marketing tools found that an all-in-one marketing cloud solution is not the answer. Small and mid-size businesses use a variety of advertising and marketing tools and, according to this study, the majority (63%) chose flexibility as their top criteria when selecting a marketing technology stack. Small business also are looking for multiple vendors as they choose best in class solutions (82%) over one solution vendor. Of those who use a single vendor, 54% of small and mid-size businesses don’t believe the solution provides value and cited lack of flexibility and the amount of time spent with consultants and developers as their main reasons for the perceived lack of value. 47% of single vendor users said they would replace with best of breed solutions. In our Local Commerce Monitor™(LCM) study of small and medium businesses, we asked SMBs about the reasons they adopt new technology. The top three characteristics cited in our survey for why they adopt new technology are reliability, ease of use and cost effectiveness. Coming in October we will have new in-depth data on the marketing cloud and why small businesses adopt technology with the release of our Local Commerce Monitor™ (LCM) 20 survey results.
BIA/Kelsey’s LCM, Wave 19 reports can be purchased a la carte in the BIA/Kelsey eStore.