61.4% of small businesses that advertise on TV or cable had a video produced in the last 12 months, according to data from BIA’s Local Commerce Monitor™ (LCM) survey, which is more than double the average from the full sample (26.3%). Where are they posting these videos they produce? Their top video channels used, according to LCM, were their website and YouTube.
A small percentage of small businesses report that they are already purchasing digital media through traditional channels, including local TV and cable. For local TV and cable, the small businesses in the survey reported the top digital advertising channel purchased was video. But the percentage of small businesses purchasing digital (and video) advertising is still small, indicating that a lot of potential digital revenue is being left on the table. Traditional players, such as TV and cable, are well positioned to offer video production services to small businesses, especially ones that are already producing commercials for their advertisers.
Generally, TV and cable advertisers in the LCM survey indicated they prefer assistance with their advertising — 81.2% use a local agency, 82.0% use a third party to update their online properties, and 81.4% consider having a salesperson, such as a local TV or cable account executive, come to them at their place of businesses to be very or extremely important.
For more on TV and cable advertisers, check out this earlier blog post “What Businesses Are Advertising on TV or Cable?”