“In 2010, we saw a significant drop in the number of small businesses actively investing in any marketing activities,” says Jacqueline Atkinson, Research Manager at AMI New York. “Boosted confidence in the economy is leading many firms to return to advertising and promotional tactics and experiment with new channels, such as online digital media,” Atkinson continued.
The study, which provides an in-depth analysis of U.S. SB present and future marketing trends, also uncovers that while print media accounts for the bulk of small business marketing spending, the market is rapidly shifting dollars to online and social media. In fact, U.S. SB Internet-based marketing was the channel least impacted by the economic recession.
“Much of small business online marketing behavior is reflective of what they are accustomed to doing offline,” notes Ms. Atkinson. “For instance, instead of printed directories, many U.S. SBs are now buying listings in online directories—while the source is new, the strategy is the same. Internet advertisers, who offer a departure from traditional models, will have to do a lot of hand holding to capture a greater proportion of U.S. SB online spending,” stated Atkinson.