Here's What Small and Large Businesses Value in Digital Ads
There are more differences between large and small companies than their advertising spending budgets. If you’re planning on selling digital advertising to either type of company, you need to understand what’s important to them.
According to Domo’s Report: Marketing’s New M.O., large businesses are more data driven. More than 64% of large businesses believe that strong data and analytics skills are the most critical part of a marketing department. Over the course of the next year, 23% of these businesses anticipate spending 40% of their marketing budgets on analytics and data management. Another 70% will be spending a minimum of a fifth of their budgets on data management and analytics.
That majority (46%) of small businesses also believe that data and analytics skills are important, but that strong creative skills are equally important. About 8.4% of small businesses feel that creative skills are even more important than data skills. Why? "Creativity is the function of brand narrative, emotional appeal and customer communications," says Domo. As such, most small businesses aren’t going to allocate more than 30% of their marketing budgets to data management within the next year.
What both types of businesses can agree on is this: Creativity needs to be increased and data and new technologies can help that happen. But, remember, large businesses value data more and will focus more on tracking ROI, while small businesses tend to simply focus on aesthetics.
So, which types of digital advertising will each business type want to focus on? According to AudienceSCAN, Small Business Saturday Shoppers are motivated by (in order) social, sponsored search, email and mobile ads, as well as ads on daily deals sites. Larger business shoppers, such as Chain Store Shoppers, were driven to action last year by sponsored search, social, mobile, email and internet banner ads, in that order.
For more information on Small Business Saturday Shoppers and Local First Shoppers, as well as audiences more specific to your large business clients’ specific field of business, check out the wide array of customer profiles on AudienceSCAN by AdMall from SalesFuel.