New SMBs Choose Social Media to Advertise, Retain & Acquire Customers
While the top media used for advertising and promotion by new SMBs are a mix of digital and social channels, social media is also a tool for these new SMBs to connect and communicate with customers. Facebook Page, LinkedIn and Twitter were the most used social media channels, while email marketing and websites were the most used digital channels, according to BIA/Kelsey’s Local Commerce Monitor?, Wave 18 survey of small and medium businesses.
New SMBs do not just use social media to advertise they are also using it to communicate and stay connected to their customers, including activities such as tracking “likes” on social media and using customer lists to engage with customers. New SMB respondents said they use social media to acquire new customers and build awareness of their business.
When it comes to purchasing online advertising, half of new SMB respondents preferred “do it yourself” models, while 38% preferred some level of paid assistance, be it “do it with me” or “do it for me.” For sellers to this coveted group of SMBs, offering a DIY service is key and with their affinity for social media offering a simple managed social media service is also attractive.
While digital and social were their most used channels, new SMBs gave their highest ROI ratings to various mobile channels, such as enhanced listing in mobile apps and mobile location aware, although they don’t budget much to, or spend much on, mobile advertising.
It is clear from the survey that new SMBs are open to digital presence and social media solutions, but there is also an opportunity for mobile advertising solutions.
Clients of the BIA/Kelsey Advisory Services can find the full New SMBs spotlight report here. This report is one of a series of drill-down reports on the findings from Wave 18 of BIA/Kelsey’s Local Commerce Monitor survey of small-and-medium businesses. In the coming weeks and months we will be looking at even larger SMBs with between 10-99 employees, established and growing SMBs, Franchises and more. To learn more about our LCM survey, click here.