Do It For/With Me SMBs Spend More Than DIYers
Earlier this month we examined SMBs that prefer a “Do it Yourself” model, but that’s only half the story. SMBs that told us they prefer a “Do It With Me” or “Do It For Me” model for their advertising and marketing services are larger (nearly two times the size of DIYers), more urban and spend more annually on advertising, as the infographic above shows. The majority are actively growing and expanding their businesses and the second largest sub group report that they are “maintaining share.” According to Stacey Sedbrook, our Vice President of Strategic Sales Consulting, there are no true DIWM/DIY models in the marketplace; to a large degree they are marketing terms to describe the amount of time, budget or sophistication of the SMB. Companies that go to market with DIY/DIWM products and services are in a win-win situation, as it allows them to meet business needs based on time, budget and/or sophistication of the client. Managed advertising services both traditional and digital are explored including commentary by Stacey Sedbrook, on the principles and best practices for implementing DIWM or DIFM models.
The full report can be viewed and downloaded by clients of BIA/Kelsey here. This report is one of a series of drill-down reports on the findings from Wave 18 of BIA/Kelsey’s Local Commerce Monitor™ survey. Our LCM reports look at where particular SMBs (broken out by size, vertical, etc.) spend the most, as well as the top channels for marketing and advertising. Additionally it provides analysis on the best product and service offers for these highly coveted groups of SMBs. In the coming weeks we will be looking at SMBs by vertical category. To learn more about our LCM survey, click here.
Click here to purchase the SMBs That Prefer “Do It With Me” (DIWM) or “Do It For Me” (DIFM) — LCM Wave 18. To purchase any of our other Local Commerce Monitor drill-down reports, check out our new BIA/Kelsey Shop.