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Digital media costs a big barrier to UK Startups
Over 68% of entrepreneurs believe the cost of web development and a competitive online marketing campaign are a major barrier to starting a new business.
68% responded that building a new website and marketing it to potential customers was expensive, requiring an investment of at least £27,000 per year.
Additionally employing staff with the right digital experience to manage the campaign internally was also a major hurdle, with 42% indicating they didn’t feel knowledgeable enough to employ the right candidate.
Steve Pritchard, Managing Director at Omoii “We were very surprised at the percentage of entrepreneurs who perceived developing an online presence as a barrier. Especially as advertising and development costs have reduced over the years, delivering more for less”.
“All aspects of digital marketing are becoming more transparent as analytics provides higher levels of data; as such clients should have a better understanding on what is working and what isn’t”.
Additionally business owners were asked whether they thought suppliers could do more for UK Startups, 82% stated yes – they would prefer to see performance based proposals, which ties the agency into the client’s success.
Andy Mead, owner of TheComparison.co.uk “As a new online business we have already invested a substantial portion of our budget to the website development and marketing, however, this investment is now driving increased revenue for us, as such we are happy to invest further”.
“If I offered any advice to someone starting up their own business, it would be do your research, find the best digital marketing partner you can for your budget and work with them to develop commercials based on the sites performance”
Omoii Ltd is a specialist digital marketing agency http://www.omoii.com, focused on working with small businesses and startups to develop long term digital campaigns on a performance based model.