Marketing Forecast from Ad-ology

Ad-ology Research announced today a new how-to website and series of video briefings, both designed to help local marketers understand and take advantage of market research. LocalMarketResearch.com and its companion video briefing Local Marketing Minute feature trends, forecasts and opportunities specific to local business.

Earlier this week I blogged about how more small businesses are turning to social media to cut their marketing costs and increase their connection with consumers. This is just one strategy that small businesses owners plan to take in 2010 as they struggle to emerge from the deep recession. A Forbes study finds that small business owners plan to apply the difficult lessons they’ve learned in the past year.

If consumers are spending more time online and the bottom line of small businesses keeps getting squeezed, many owners are drawing the same conclusion: Marketing via social media makes sense. The findings of the Small Business Success Index™ (SBSI), jointly carried out by Network Solutions® and the Center for Excellence in Service at the University of Maryland’s Smith School of Business indicate that the rate of social media use in the small business arena doubled between 2008 and 2009.

A couple of weeks ago, I highlighted the general move by small businesses into search marketing. WebVisible’s survey indicated that the typical small business spent $1,658 on search marketing in Q3 2009. Another detail that came to light in that survey is the increase in the number of keywords used by small businesses.

Last week I highlighted WebVisible’s report on the increased use of search marketing by small businesses. Another research concern, VerticalResponse also reported that search engine marketing will be a key 2010 expenditure for smaller operators. And according to VerticalResponse, small business owners are planning a number of budget cuts to traditional media formats next year.

Small business owners are hoping to engage customers in new ways in 2010. Twenty-eight percent of small business owners say they plan to spend more on online video in 2010, up 75% over last year’s plans. Twenty five percent say the same about social networking, while 21% plan to commit more resources to mobile advertising.