Borrell Associates Finds More Small Businesses Thinking About Skipping Radio Advertising
June 8, 2015 at 5:45 AM (PT)
A new report from BORRELL ASSOCIATES has a "big uh-oh for radio,"
The release, "Local Advertising At The Tipping Point," notes the "percentage of SMBs (Small to Medium-sized Business) who 'won’t buy radio' is now at 37%, up from 23% five years ago."
Other highlights from the report:
- Of all media, print directories are being earmarked the most for cuts. BORRELL’s survey of 7,000+ SMBs shows 33% are expecting to cut directory spending in next 12 months.
- Who says local broadcast is dying? Massive survey of advertisers shows twofold increase in percentage who say they plan to increase radio or TV budgets in next 12 months. Maybe SMBs don’t read media industry news!
- Yellow page books and newspapers are in the biggest trouble, earmarked for cuts over the next 12 months by the greatest percentage of SMBs. One-third said they planned to cut directory budgets this year, while one-fifth said they’ll cut their newspaper budgets.
- Newest customer base for newspapers: Mom & Pop stores. Survey of 7,228 SMBs shows bigger advertisers leaving newspapers, but smaller ones embracing them.