SMB Data Point of the Week: 25% or More of Ad Budget Going to Digital
SMBs are putting a bigger share of their advertising budget towards digital media, according to BIA/Kelsey’s Local Commerce Monitor (LCM)™, Wave 19, survey of small-and-medium businesses. When looking at the data by vertical category (Professional Services, Home/Trade Services, Retail, Entertainment, and Technology) SMBs in every vertical reported putting at least a quarter of their advertising budget to digital media over the last 12 months. When asked about future spend, a majority of the SMBs in the vertical categories reported they plan to increase the share of their advertising budget going towards digital.
The verticals with the biggest share of their budget going to digital media over the past 12 months (and the next 12 months) are Technology, Entertainment and Retail. As discussed earlier this week, Home and Trade Services SMBs put the least amount of their advertising budget towards digital media in the last 12 months.