SMB Data Point of the Week: Franchisees Have More Aggressive Plans Than Other SMBs
Franchisees are more likely to use, and spend for, the newest media, platforms and technology, according to BIA/Kelsey’s Local Commerce Monitor™ survey of small and medium sized businesses (SMBs). Franchisees were more likely to use newer mobile platforms, such as mobile websites, tap-to-pay and in-store beacons, than other small businesses in the survey.
Franchisees are bullish on spending for advertising over the next 12 months. Nearly half of the franchisees in the survey say they plan to increase their advertising spend in the next 12 months, compared with less than a third of SMBs overall. Much of this spending increase by franchises will go to marketing automation and similar services. Franchisees were particularly interested in cloud-based online storage, business software (such as Office 365), and payroll services.
*BIA/Kelsey defines SMB as a business with one to 99 employees.
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.