SMB Data Point of the Week: SMBs That Use Co-Op Funds Only Spend 25% on Digital
According to data from Wave 20 (Q3/2016) of BIA/Kelsey’s Local Commerce Monitor™ annual survey of small and medium businesses (SMBs), about 15% of the 1,000 SMBs surveyed reported using funds from a co-op program, down slightly from 18% in Wave 19 (Q3/2015). 25% of SMBs using co-op funds say that they get at least half of their ad budget from co-op programs. But, more than half of these co-op SMBs say that less than 1/4 of their co-op funds go towards digital advertising.
Co-op SMBs’s most used media were community sponsorships and direct mail, both traditional media. Interestingly, sensors or beacons that communicate with customer devices when customers or potential customers are nearby to present offers or other information (a new media channel added in Wave 20), was the third most used media.
BIA/Kelsey’s LCM, Wave 20 full report can be purchased in the BIA/Kelsey eStore. Additional LCM, Wave 20 reports are coming soon.