Small businesses find less value in radio advertising

3/31/2011

Traditionally, small businesses have used radio advertising to reach local consumers. For many smaller companies, radio was the perfect medium as it allowed them to connect with their own communities.

However, many entrepreneurs are beginning to invest more in online advertising and less in radio, according to a new report from Borrell Associates. The research firm recently found that companies planned to spend the most money on developing and maintaining their websites in 2011, while only a 4 percent growth in radio advertising was expected.

"When Borrell asked SMBs about their advertising budget for 2011, 65 percent of those surveyed said they expected to buy time on radio," FMQB reports. "However, 15 percent expected to spend more this year, while 11 percent expected to spend less and 38 percent expected to spend the same amount as in 2010."

The best way to maximize the reach of a company's marketing message is to leverage a variety of promotional mediums. With greater access to commercial loans, small businesses are in a better position to do just that, rather than putting their eggs in a single basket and utilizing only one channel.