Social Media Marketing Edges Closer to a Lion’s Share of Small Business Ad Dollars
Thank you to Spark Business from Capital One for sponsoring this feature highlighting small business.
Facebook investors: still smarting over your loss of stock valuation since the social network’s Initial Public Offering earlier this year? You might want to hang on to that stock, if predictions by business media consulting and analysis firm BIA/Kelsey and current trends prove correct.
The report forecasts that over the next four years, spending on social-based advertising campaigns will reach $9.8 billion, as small to medium business simply get better at it, and subsequently see its usefulness in improving their bottom line. BIA/Kelsey drew its predictions from conversations with small to medium business clients, non-clients, company leaders and employees, proprietary data and information readily available in the public domain.
Two thirds of small business owners currently spend at least a few hours weekly on Facebook, and half Tweet a few times a week. Expect the time spent online to increase, as small businesses take more note of the virtual places their customers congregate. Some will be better at connecting online than others.
“Social advertising’s local business penetration will steadily increase as SMBs’ understanding of social media deepens, and as the networks continually improve the ease of onboarding and campaign management,” said Social Local Media Analyst and Program Director Jed Williams. “Facebook opening its Ads API to more partners, including those that work with SMBs, and Twitter’s self-serve platform will help to ‘democratize’ social ads, which will ultimately lead to more local growth.”
As Facebook steadily works to improve its advertising network, expect more small business ad penetration toward the mobile version of its social network. As more and more social interaction moves from desktop computers to smart mobile devices, expect that you’ll be working with more than traditional print ads and slick website or blog advertisements. You will need to also refine your outreach skills using the tiny medium that is the in-app advertisement.Continued on the next page