Higher spending small businesses*, which we call Plus Spenders, use 17 ad channels – more than most small businesses and their marketing mix is evolving. According to the new wave of BIA/Kelsey’s Local Commerce Monitor™ (LCM) their mix now includes more social and mobile than in previous years. Several reasons for the increase in use of mobile and social channels including consumer usage, better ad targeting and lower cost to advertise.
Facebook page continues to reign as the most used media channel (70.8%) followed by websites (67.4%). Social media channels (Facebook, social paid ads and other free social accounts) accounted for three of the top 10. Mobile and social channels also show the highest return on investment (ROI) for this group. As we know, where the ROI is high so is future ad spend… and this group indicates they will be spending more on the social and mobile channels they use in 2018.
*Core SMBs have an annual spend of less than $25,000. Plus Spenders have an annual spend of at least $25,000.