In 2009, during the worst advertising recession since roughly Guttenberg, SMBs grew their online spending. A couple of studies say the increases were between 11% and26% in 2009, while shrinking the rest of their budgets. The social media activity of SMBs is also soaring-- roughly doubling in the last 12 months.
Why is this happening now?
-- Consumers are finding local information much more easily (Google, for instance, has really improved its local search capabilities)
-- Consumers are abandoning usage of other local media (when was the last time you actually used a physical yellow pages?)
-- Location based apps (fueled by mobile) are growing very rapidly
-- Advertisers are getting results
How long will this rapid growth continue?
-- For many years, since online is still only a fraction of the overall budgets (about 15-20%) of SMBs. I'd expect a significant majority of SMB budgets to migrate online.
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ReplyDeleteVery efficiently written information. It will be valuable to everyone who uses it, including myself. Thanks a lot!
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