Small business owners are planning to engage customers in new ways in 2010, according to an Ad-ology Research study: 28% say they will spend at least the same or more on online video, an increase of 75% over last year's plans; 25% say they will commit more resources to social media; and 21% say the same for mobile advertising.
Below, additional findings from Ad-ology's Small Business Marketing Forecast.
Business Outlook Improving
Well over half of small business owners (57%) say sales in 2009 were equal to or higher than sales in 2008, down from 60% who said the same last year. Looking ahead to 2010, 86% expect sales to be equal to or higher than 2009 figures, up from 83% last year.
Concerns about the economy have eased since last year: 22% say they are fearful about the economy, compared with 25% last year; 48% say they are concerned about the economy, compared with 58% last year; 17% say they are "cautiously optimistic."
Nearly one-half of small businesses (46%) say they do not have an active company website. Of those with active sites, the primary functions are to inform customers about products/services, provide general information, and offer special promotions.