LinkedIn Data Shows AI and Emerging Tech Keep Australian SMBs on the Cutting Edge

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Australian SMBs are jumping on the bandwagon in a world of ever-evolving technology. Recent LinkedIn data shows they leverage AI and emerging tech to stay ahead of the curve.

LinkedIn’s recent research discovered that small and medium-sized businesses (SMBs) in Australia maintain a positive outlook regarding the importance of marketing and are dedicated to their marketing budgets, despite the economic turbulence.

Data from a social media platform reveals that the average yearly marketing investment for Australian SMBs is almost one-quarter (23.5%) of their annual business revenue. Only 5% of SMBs intend to decrease their marketing budgets over the next year.

Small and medium-sized businesses in Australia are confident about the importance of marketing for business growth. They are willing to maintain or increase their marketing budgets to drive revenue and remain competitive.

In 2023, businesses will focus on three main priorities:

  1. 40% of companies aim to expand their customer base.
  2. 39% of companies will focus on nurturing existing customer relationships.
  3. 30% of companies will work to build brand loyalty and increase revenue and market share.

Amy Mills, the director of LMS, believes that small business marketers should focus on brand building and creativity to achieve long-term growth, especially during economic change. This is because the invention provides many benefits that extend beyond just marketing.

“During these challenging times, savvy business owners can benefit by utilising creativity, automation, and marketing AI tools to demonstrate the value they provide to their customers. By tapping into creativity, businesses can extend the reach of limited budgets and ultimately reap the rewards.”

Mills mentioned that there had been an increase in small and medium-sized businesses utilising marketing automation. 

“Small and medium-sized businesses often need more time and competing priorities to keep their business running. The good news is that by using AI, businesses can efficiently implement innovative marketing strategies, maximise their return on investments, and achieve their desired goals while allowing their staff to focus on more complex tasks that require extensive knowledge and expertise.”

Whether a small business or an enterprise, AI and emerging technologies can help your company stay ahead of the competition, level up your marketing strategy, and stay caught up – get on the cutting edge.

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