Home and Trade Services Ad Spend Holding Steady in 2019
We’ve spent the last few weeks talking about businesses in the Entertainment and Financial Services verticals were most likely to increase their ad spend in 2019, according to results from SAM ™, BIA’s Survey of Advertising and Marketing. Home and Trade Services (HVAC, plumbing, etc.) are not willing to spend more in 2019. The majority of Home and Trade Services businesses (60%) reported that they plan to maintain their current spend levels. Just over a quarter, 28.1%, plan to increase their spend. However, the not-so-good news is that 8.7% plan to decrease their spend, which results in net increasers (those that plan to increase minus those that plan to decrease) of 19.4%.
What media is getting the most of their ad dollars?
Home and Trade services businesses still rely heavily on traditional media. Direct home (flyers, door hangers and other media delivered directly to a home) was their top used media at 48.1%. Digital plays in the most popular mix with targeted social ads as the second most used. Direct mail, newspapers and print yellow pages rounded out their top five.
Traditional continues to rule with broadcast TV and radio having the highest reported return on investment (ROI) among traditional media channels.
Where is the future opportunity?
Home and Trade Services businesses have been increasing their use of digital media channels. Home and Trade Services businesses will spend on media they see as high performing (like targeted social ads and search). Show them how your media is high performing by illustrating how your medium can target their ideal customer.
The SAM™ survey data as well as our local forecast data is available through BIA’s local advertising dashboard, BIA ADVantage and is offered in a searchable, downloadable format. Insights and analytical reports from the survey are also provided. Additional information about BIA’s SAM study can be found here.