Top 5 Local Ad Stats of the Week: SMBs
May 16, 2014 | Contributed by: Joe Morsello
A recent infographic from Docstoc notes that there are 28 million small businesses in the U.S. While the ad spending power of SMBs pales in comparison to national brands, marketers see a tremendous opportunity with SMB advertisers because of their strong numbers and need for local ad solutions.
As the local advertising space continues to fragment, many SMBs are at a loss. Slow to adopt digital and mobile solutions, inundated with sales calls that make them even more confused, and unable to adequately track the effectiveness of their campaigns, SMBs struggle in determining how they spend their limited ad budgets.
Here are five key stats that highlight how SMBs today are thinking about local advertising – and demonstrate the challenge and opportunity facing local marketers in engaging them:
- SMBs plan to allocate just 26% of their total ad budget to digital and online media. (BIA/Kelsey)
- On average, SMBs get five sales calls per week and listen to only one of them. (Borrell Associates)
- 78% of SMBs stated they would prefer to work with one trusted source for all their advertising needs. (Thrive Analytics)
- 56% of SMBs don’t do any measurement or tracking of their marketing to determine effectiveness. (Yodle)
- The average SMB spends $400 per month on marketing. (BrightLocal/ChamberofCommerce.com)
Be sure to check back next Friday for our next edition of Top 5 Local Ad Stats of the Week. Have a great weekend!