Microsoft is sharing some survey results from BIA/Kelsey about small businesses. The results were presented at the ILM West conference in San Francisco. The main takeaways are as follows:
Based on responses to the survey, local media spend in the US is forecasted to hit $149.4B in 2015 with $37.9B of that being online/digital.
Local search is forecasted to hit $9.1B by 2015 â€“ up from $5.1B in 2010.
The percentage of ad budget spent online continues to sit around 25%.
Businesses that are between 4-6 years old spend 33% of their budget on online advertising.
Businesses that are less than 3 years old spend 38%.
40% have a Facebook page, 14% have a blog, 14% use twitter, and 10% have YouTube videos.
22% intend to create a YouTube video in the next 12 months!
Those siting the importance of online ratings and reviews rose from 42% to 54% since last year.
Over 50% are buying online advertising on their own â€“ though sometimes with assistance.Something else that is striking, in terms of ad spend, is the ratio of spend on print vs mobile. This is something highlighted in an eMarketer study, as reported by Josh Wolford at WebProNews. He writes: