In BIA/Kelsey’s Local Commerce Monitor™ nearly a third of small businesses in the financial services vertical opt for a “do it with/for me” model. This is the largest percent among our vertical categories with most opting for “do it myself”. Financial Services SMBs pay third parties for updating their digital properties. Core SMBs in the Financial Services vertical (those that have an average annual spend of less than $25,000) outspent SMBs in the other verticals, with an average annual spend of $1,907. As a comparison, SMBs in the Entertainment vertical spent an average of $618 annually for assistance updating their digital properties.
A new LCM report on SMBs in the Financial Services Vertical will be released to our Advisory Services clients on Thursday (July 14) and will be available for purchase in our eStore.
BIA/Kelsey’s LCM, Wave 19 reports can be purchased a la carte in the BIA/Kelsey eStore. Our LCM reports look at where particular SMBs (broken out by size, vertical, etc.) spend the most, as well as the top channels for advertising and marketing.