DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/dj6nkj/local_advertising) has announced the addition of the "Local Advertising Hits a Tipping Point 2015" report to their offering.
This survey of 7,228 SMBs indicates an acceleration in upward and downward trends for media buying. More have said that they're planning to increase digital budgets than we saw in our 2011 and 2013 surveys, and more have told us they're planning to abandon traditional media.
Meanwhile, 82% of SMBs have established their own media channel in the form of a website or social media page. The survey found that 72% of them are purchasing digital services to support those channels, spending far more on those efforts than on basic advertising.
As a result, advertising as we've come to know it is in decline, clear evidence of this was found in IRS tax records. If businesses were devoting the same percentage of this year's gross revenues to advertising as they were 10 years ago, the advertising economy would be $56 billion richer.
This year, online media shimmied to the top of the local media food chain, appealing to the largest percentage of local advertisers and taking the largest share of ad budgets of any other media. It was a position held by newspapers since 1704. Over the next 12 months, the gap will almost certainly widen to the point that all traditional advertising channels - print, broadcast, outdoor and mail - begin to look like niche support mechanisms to a local businesses' digital marketing plan.
For more information visit http://www.researchandmarkets.com/research/dj6nkj/local_advertising
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