SMB Data Point of the Week: Financial Services SMBs Get Social
According to BIA/Kelsey’s Local Commerce Monitor (LCM) Wave 18, the average annual spend on advertising and promotion for SMBs in the financial services vertical* was $31,012. This is the second highest of the verticals covered in the survey. Financial Services SMBs reported spending an average 20.4 percent, or $6,326, of their advertising budget on social media annually.
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*Financial Services vertical includes accounting/bookkeeping, other financial services, insurance, and real estate brokerage and development.