In the euphoria surrounding the shiny new thing Facebook has become, investors have bid up the firm’s valuation to the astronomically high level of nearly $70 billion. The latest data on Facebook advertisers suggests that the social networking site is increasingly popular for small merchants in the local market. But large companies, who were expected to spend big on social media, are still finding other ways to allocate their digital budgets.
Tag: small business
For all the talk about small local businesses turning to mobile marketing, new research provided by the Internet Advertising Bureau and Ovum, shows that national advertisers are spending the most on this format. Over 2/3’s of surveyed firms that have fully integrated mobile into their existing marketing strategies were large. Many firms in this survey also indicated their desire to have specific concerns resolved before they invest more money in mobile.
It may have taken small business operators, those with fewer than 100 employees, a while to conquer digital marketing. But the vast majority of smaller merchants now agree that an optimal marketing campaign includes a good balance between physical and digital communications. Some of these operators are also leading the way with one of the newest tools to enter the marketing arena.
As we approach National Small Business Week, designated to take place from May 16-20, more optimism is apparent in this sector. The latest Small Business Barometer from Capital One reveals improved financial performance at many smaller establishments. In particular, increased credit availability for these operators could soon lead to more hiring and spending, especially on promotion.
Smaller businesses often lag behind when it comes to implementing the latest marketing strategies. I highlighted a MerchantCircle report earlier this week which noted that mobile advertising and group buying tactics will not be top choices for businesses with an ad budget of below $2,500. However, a new report from Borrell Associates points out that the general attitude about online marketing is largely positive for small and medium-sized businesses (SMBs) for 2011.
The typical small business owner has a lot of irons in the fire and can’t afford to make expensive mistakes. These small merchants often lag behind when it comes to implementing the latest marketing tools. Research from MerchantCircle shows that small businesses are finally using some forms of social media and online search effectively but they have yet to embrace mobile marketing and group buying strategies.
What are U.S. small business owners thinking about their sales, advertising, online/mobile marketing, and social networking? What do they have to do to stay at the top of their customer’s mind? Ad-ology’s Small Business Marketing Forecast answers these questions and reveals insight into how business owners can tackle these challenging markets. C. Lee Smith, President
Even the smallest business operators are beginning to see the light at the end of the tunnel. A significant minority of businesses with 4 or fewer employees says the economy has somewhat improved in the past 12 months. As a result, these small businesses plan to increase advertising, especially online, this year.
Business owners who operate with fewer than 10 employees remain concerned about the economy. A significant majority of this group says the recession is not over. But over half said that their 2010 business was equal to or better than the previous year. This experience has led many of these operators to make advertising and business development top priorities in 2011.
Best of 2010: Small business owners are growing increasingly sophisticated with their use of online search advertising and with their ability to transform the consumer information they capture into good leads.
After a prolonged stretch of dour forecasts, more small and medium-size business (SMBs) owners are saying conditions have improved. According to the Office Depot Small Business Index, confidence among small business owners is rising when they consider the next 6 months. This confidence encompasses sales, profits, and capital spending.