SMBs Spend on Social Media Advertising
Social Media is the top marketing channel for SMBs once again, according to Wave 19 of Local Commerce Monitor (LCM), our survey of small and medium businesses. 73.2% of SMBs in the full sample reported that they use social media to promote their businesses, with a Facebook page being the most popular media channel. But not only are they using social media, they are spending on social media.
SMBs in the Core Sample*, the smallest SMBs in our survey, put 21.1% of their limited advertising budget towards social media, about half of which goes to Facebook (page, ads, and newsfeed). The larger SMBs, known as Plus Spenders*, put 17.8% of their advertising budget towards social media, with nearly half going to Facebook.
BIA/Kelsey’s LCM, Wave 19 reports can be purchased a la carte in the new BIA/Kelsey eStore.
*SMBs in the Core Sample spend less than $25,000 annually on advertising and promotion. Plus Spender SMBs spend a minimum of $25,000 annually on advertising and promotion. The full sample is composed of both core and plus spender SMBs.