Small Businesses Differ in Their Marketing Tools

Local Commerce Monitor - Small Business Research

Industry Opportunities as Identified by LCM

Small businesses use technology and tools along with their advertising and marketing to run their businesses. Depending on the type of small business there are differences in what they use and adopt.  We delve into the differences and similarities of small businesses  from BIA/Kelsey’s Local Commerce Monitor™ (LCM) survey of small businesses. Small businesses in the Entertainment (restaurants, hotels, etc.), Financial Services (accountants, real estate, insurance) and Professional Services (lawyers, consultants, architects) verticals were most likely to take advantage of the targeting capabilities offered by programmatic advertising (an automated channel that can find and place ads among target audiences). When it comes to geofencing (a location-based service that sends messages to smartphone users who enter a defined geographic area) once again small businesses in the Professional Services, Financial Services and Entertainment verticals that are most likely to use the service. The use of mobile payments, on the other hand, is dominated by Retail, Entertainment and Financial Services. Small Businesses in the Home/Trade vertical (construction/contracting, plumbing, HVAC, etc.) are more likely to prefer more traditional media channels.

The small business vertical comparison report, Small Business Industry Opportunities: Findings from the Local Commerce Monitor, Wave 21, is available exclusively to subscribers of BIA/Kelsey’s ADVantage. However, reports by vertical category will be available for a la carte purchase in the eStore this quarter.

 

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