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86% Of Small Business Owners Keep Pace Or Increase Ad Spend
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Dec 4, 2008 by Mark Maier26% plan on increasing ad spend, 60% plan on spending about the same as 2008. I wish the resources were available to do a case-study of each of these Small Business owners and the positive effect that stable or increased ad spending has on each of the businesses going forward. The press release from Ad-ology Small Business Marketing Outlook has some great insights for todays marketplace as it finds that owners rely on advertising sales reps for guidance and are likely to purchase from those that understand their business..."WESTERVILLE, Ohio, Dec 16, 2008 (BUSINESS WIRE) -- Looking forward to 2009, more than a quarter of recently surveyed small business owners plan to spend more on advertising, and another 60% plan to spend about the same as in 2008.
The Ad-ology Small Business Marketing Outlook survey found that small business owners are cautiously optimistic going into 2009. While 25% stated they are fearful about the current economic situation and 58% are concerned, 83% expect 2009 sales to be up or about the same as 2008.
When broken down by media type, over half of small business advertisers plan to spend the same or more on the following: Online advertising (69%), Yellow Pages (54%), newspapers (51%), and direct mail (51%).
"Small business owners rely on advertising sales reps for guidance and are clearly looking for consultative partners in the advertising process," said C. Lee Smith, president and CEO of Ad-ology Research. "They are more likely to purchase advertising from those that understand their business," Smith said.
Other key findings from the survey:
-- "Knows my company/line of business" is the top attribute small business owners look for in a media advertising sales rep. "Delivers what they promise" is the second most desirable attribute.
-- 52% of small business owners surveyed agree with the statement "you can gain market share by marketing while your competitors are cutting back."
-- 74% believe their company "must be one of the first 2-3 that come to a customer's mind" when they need what the small business owner is selling.
-- More than half of respondents plan to spend the same or more time and money on their Web sites and email marketing in 2009.
-- The majority of small businesses are not using other emerging media: 77% do not use online video, 83% do not podcast, and 82% do not use mobile advertising.
The Small Business Marketing Survey was conducted in October 2008 by Ad-ology Research to study the attitudes of small business owners. The Small Business Marketing Outlook report is available for purchase through Ad-ology.net.
ABOUT AD-OLOGY RESEARCH
Ad-ology Research analyzes key marketing and advertising trends in over 370 industries and what motivates end-customers. The company's research is used by over 2,000 advertising agencies, media properties and product marketing departments across the United States. Ad-ology Research is a division of Sales Development Services (SDS), Inc. - a Westerville, Ohio firm founded in 1989.
METHODOLOGY
Ad-ology Research surveyed an online panel of 863 owners of U.S. businesses with less than 100 employees in October 2008. The margin of error for this survey is +/- 3.34 percentage points."
I don't usually like to quote an entire press release but for any salesperson that is out working with clients, your attitude makes an impact according to this survey, we have all heard that 80% of the reason you get the business is because people like you. That changes in a recession as people want results and return and those that speak to them and justify the business by those terms will end up with budgets in the end.
I don't usually like to quote an entire press release but for any salesperson that is out working with clients, your attitude makes an impact according to this survey, we have all heard that 80% of the reason you get the business is because people like you. That changes in a recession as people want results and return and those that speak to them and justify the business by those terms will end up with budgets in the end.
Marketers want us to know their business, they want a consultative partner or sustaining resource to advise them, and they want us to do what we say we are going to do. These are the principals that we train and live by at Luce Performance Group and hopefully you take the same code with you as you consult with your clients.
If 86% of Small Business Owners either plan on spending about the same as 2008 or more than why are salespeople claiming the sky is falling? I propose to you that it is the attitude of defeat that is creating a self-fulfilling prophecy, if you think things are bad, they are. You carry the negative attitude with you and instead of looking for solutions you "excuse" your clients from smart advetising spending because "times are tough". Our clients are demanding more from us and looking to us as an industry to market our way out of the recession. I don't plan on working less in the new marketplace, instead I think we all need to plan on working harder on the things that matter the most like asking the right questions about budget, strategic annual planning, promotions, increasing market share with key customers, return on investment, and overall marketing philosophy.
Related CategoriesIf 86% of Small Business Owners either plan on spending about the same as 2008 or more than why are salespeople claiming the sky is falling? I propose to you that it is the attitude of defeat that is creating a self-fulfilling prophecy, if you think things are bad, they are. You carry the negative attitude with you and instead of looking for solutions you "excuse" your clients from smart advetising spending because "times are tough". Our clients are demanding more from us and looking to us as an industry to market our way out of the recession. I don't plan on working less in the new marketplace, instead I think we all need to plan on working harder on the things that matter the most like asking the right questions about budget, strategic annual planning, promotions, increasing market share with key customers, return on investment, and overall marketing philosophy.
