Is digital marketing the ideal marketing tool for small and medium sized businesses? A recent study conducted by media research organization BIA/Kelsey sure suggests that. The report that the company produced following the study (titled U.S. SMB Spending Forecast 2010-2015) predicts that by the year 2015, owners of small and medium sized businesses across the US will spend 16.6 billion USD every year for promoting their business ventures on the Internet.
The forecast from BIA/Kelsey is based on their extensive study of public companies that chose to make use of digital media for promoting their businesses, which it carried out last year. Titled Local Media Annual Forecast (2010-2015), the study was followed by another that focused on calculating how much money the companies spent for promotional purposes, on an average. Both studies hinted at the increased dependence of owners of SMBs on digital media for promoting their businesses without having to extend their marketing budget.
Digital media is steadily replacing other media used in business promotions, and in the coming years, its popularity is bound to increase even more. If the prevailing trend is any indication, then owners of SMBs are going to use, and invest in digital media to promote their businesses, more with each passing year.