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Small Businesses with Tight Budgets Embracing Facebook & Group Buying

Published on Jun 10, 2011

Summary

Read 'Small Businesses with Tight Budgets Embracing Facebook & Group Buying' at 'Time to Start Up,' the small business blog by BizFilings.
A marketing industry survey released this week by MerchantCircle finds businesses are shedding the use of traditional print channels and opting for less expensive web alternatives such as Facebook and search engines. The study focused on local merchants and found use of Facebook to be rising and becoming more attractive, with 22 percent claiming they've used the social network and 65 percent reporting that they would use the service again. Group buying is also growing more attractive among marketers, with 77 percent of respondents who have used a group buying service claiming they would offer another daily deal, compared to only 50 percent of merchants who reported this three months ago. "Most local merchants are working with very small budgets and tend to prefer marketing methods that are easy and familiar," said Darren Waddell, vice president of marketing at MerchantCircle, "so it stands to reason that many merchants will gravitate towards a well-known brand such as Facebook when it comes to trying locally targeted display ads and group buying." However, plans to expand marketing budgets seem to have stalled among local merchants, with as much as 73 percent claiming they have no plans to raise their budgets this year.