A recent study shows that 97% of small business owners are fearful about the economy but a large part of those concerned still plan on spending more money on advertising. The report shows that most of this increase will be targeted on line.
Although some businesses will lift spending in areas, the research shows that an increasing amount of small business owners question whether mass media advertising can reach the market they want. But they all agree that advertising plays a crucial role in the future of their businesses. Broken down by specific media, 44% of respondents ranked online advertising as effective, followed by direct mail (32%), Yellow Pages (28%), and newspapers (27%).
These finding show that while same companies are cutting back others agree with the statement that, you can gain market share while marketing when your competitors are trying to save money. 74% of business owners feel their company must be one of the first two or three that come to a customer’s mind when they need what the small business owner is selling.