2019 Local Pulse Report™- Small Business Economic & Advertising Outlook

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Description

Why Read This Report

Small and medium-sized businesses (SMBs) are bullish about their prospects over the next 12 months. They are planning to increase investments in marketing and technology to gain a competitive market share. They plan to shift resources away from traditional marketing tactics and increase resources in digital ones. While this shift isn’t new, it does provide an opportunity for marketing service providers to capitalize on growing trends.

 

Key Takeaways

  • SMBs Are Optimistic About The Future. Despite looming concerns of an impending recession, small business owners continue to remain optimistic about the economic conditions over the next 12 months.

 

  • SMBs Face Challenges to Business Growth. Like many enterprise businesses, SMBs feel that several factors hinder their ability to grow. Some of the most significant areas that impact business growth are limited resources, budgets, and technology.

 

  • The Shift of Marketing Budgets Continues. The shift of dollars from traditional forms of media to digital ones continues. SMBs plan to decrease spend on traditional media 3 times the rate of digital media over the next 12 months.

 

14 Charts Included

1-1 SMB Economic Outlook
1-2 SMB Sales Outlook
1-3 SMB Employment Outlook
1-4 SMB Capital Expenditure Outlook
1-5 SMB View On The Ability To Obtain Financing
1-6 Biggest Factors Holding Back Growth

2-1 SMB Marketing Budget Outlook
2-2 % Of Total Expenses Dedicated To Marketing
2-3 SMB Marketing Goals
2-4 Traditional Vs. Digital Media Spend
2-5 Reasons Why SMBs Are Decreasing Their Media Investments
2-6 Reasons Why SMBs Are Increasing Their Media Investments
2-7 SMB Planned Change In Media Spend Over The Next 12 Months

2-8 Average SMB Budget Increases For Digital Media (2013-2019)