Social Media is the top marketing channel for SMBs once again, according to Wave 19 of Local Commerce Monitor (LCM), our survey of small and medium businesses. 73.2% of SMBs in the full sample reported that they use social media to promote their businesses, with a Facebook page being the most popular media channel. But not only are they using social media, they are spending on social media.
SMBs in the Core Sample*, the smallest SMBs in our survey, put 21.1% of their limited advertising budget towards social media, about half of which goes to Facebook (page, ads, and newsfeed). The larger SMBs, known as Plus Spenders*, put 17.8% of their advertising budget towards social media, with nearly half going to Facebook.
BIA/Kelsey’s LCM, Wave 19 reports can be purchased a la carte in the new BIA/Kelsey eStore.
*SMBs in the Core Sample spend less than $25,000 annually on advertising and promotion. Plus Spender SMBs spend a minimum of $25,000 annually on advertising and promotion. The full sample is composed of both core and plus spender SMBs.