There are more advertising opportunities available for small businesses today than ever before. New data reveals current advertising trends and best practices to guide small businesses in building an advertising strategy for the future. Many major companies succeeded in delivering viral advertisements by capitalizing on current events and trends from 2020. Following the hype of the final Avengers movie, Planters created a live-action video that killed off their long-standing brand mascot, Mr.Peanut. The video received over 7 million YouTube views and went viral on Twitter.
Growing Companies Spend More On Advertising
A main challenge many new businesses face is a lack of resources. Owners have to prioritize their investments and for many, advertising does not top China Phone Number Data that list. Most small businesses (55%) spent less than $50,000 on advertising in 2020 and only 11% spent more than one million dollars. The U.S. Small Business Administration recommends that small businesses invest about 8% of their gross revenue in marketing or advertising efforts, but some experts report that new businesses actually only invest about.
Social Media Is The Most Popular Advertising Channel For Small Businesses
Many people rely on Facebook to check in with family, Instagram to keep up with friends, and Twitter for recent news or trends — in fact, more than every generation America Phone Number checks social media daily. With usage rates continuing to rise, small businesses recognize the importance of a strong social media presence compared to other advertising opportunities. of small businesses advertise on social media, making it the most popular channel in 2020.
