SMBs Continue to Shift Dollars From Traditional Media to Digital & Social Media is a Big Winner.

According to our recent survey on Small and Medium-Sized Businesses (SMBs), nearly 33% are planning to increase their budgets in Social Media over the next 12 months. This represents a great opportunity for Industry Providers to capitalize on a growing trend. In fact, social media is viewed as one of the most effective marketing methods used to promote their businesses. This is especially the case in the Healthcare, Lifestyle and Automotive segments as they ranked social media in the top three of most effective marketing methods used. (See below for descriptions of segments).

 

Figure 1- Business Segments
SMB Segments
Thrive Analytics- SMB Segments

 While the other segments did not rank social media as the most effective method used, they all stated it was a top area they need help in and they all plan to increase their investment in it over the next 12 months. The average increase varies by segment with Healthcare and Knowledge Services leading the way at 20%-25% (Figure 2).

Figure 2- Planned Change in Media Spend
What is your company doing to capitalize on this trend?
For more details on each business segment please click HERE.

Jason Peaslee

Jason Peaslee is the Managing Partner of Thrive Analytics, a marketing research and analytics consulting firm. His career spans more than 20 years in marketing, advertising, product development, research, and business management. Before founding Thrive Analytics in 2010, he held several senior leadership roles at AT&T, Reynolds & Reynolds, Berry Network, & The Berry Company.

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