New York SBDC Research Network

Based on responses to a survey, local media spend in the US is forecasted to hit $149.4B in 2015 with $37.9B of that being online/digital. Local search is forecasted to hit $9.1B by 2015 – up from $5.1B in 2010. The percentage of ad budget spent online continues to sit around 25%. Businesses that are between 4-6 years old spend 33% of their budget on online advertising. Businesses that are less than 3 years old spend 38%. 40% have a Facebook page, 14% have a blog, 14% use twitter, and 10% have YouTube videos. 22% intend to create a YouTube video in the next 12 months! Those siting the importance of online ratings and reviews rose from 42% to 54% since last year. Over 50% are buying online advertising on their own – though sometimes with assistance. More HERE .

Wondering what kind of advertising will give you the most bang for your buck? Of course there’s no magic formula, but the following resources can help you compare advertising media and choose which is right for your next campaign. Keep in mind that several of these resources come from industry trade groups with an interest in promoting their medium. Media CMP Comparison (from the Outdoor Advertising Association of America) Looks at the advantages and disadvantages of television, cable television, radio, newspapers, magazines, yellow pages, direct mail and the internet . Radio Advertising Bureau: Media Facts “ RAB's new Competitive Media section gives you complete access to the latest information profiling 10 competitive media. Each profile contains a complete whitepaper as well as the advantages, disadvantages and plus Radio for each medium.” Radio’s ROI Advantage (2005 – From the Radio Ad Lab) A comparison of television and radio ROI. Making Better Media Decisions (Advertising

Docuticker recently posted documents put out by Deloitte, LLP about the 2009 automotive and technology, media & telecom TMT) industries.   2009 Industry Outlook: Automotive discusses the challenges to the big 3 in the coming year; 2009 Technology, Media & Telecom (TMT) Predictions are broken down into three respective topics and "provide an in-depth look at the emerging issues that will have an impact on the technology, media and telecommunications sectors in the coming year. The 2009 series has drawn on internal and external inputs from conversations with member firm clients, contributions from Deloitte member firms’ 6,000 partners and managers specializing in TMT, and discussions with industry analysts, as well as interviews with leading executives from around the globe. Each report includes recommendations on how to leverage these trends." -Tyler Krumm

Yesterday, the New York Times began a series that will focus on six individual small businesses in the New York City area, and how each of them is dealing with the current economic situation. Here's their introduction: "A butcher’s longtime customers stop paying their bills. A building contractor has half as many jobs as he did a year ago. A restaurant owner considers sharing space to stay afloat. Steadily, inexorably, the fallout from Wall Street’s layoffs and the credit crisis is trickling down to small businesses across the region. Over the coming months, The New York Times will track six of those businesses to see how they are weathering the economic storm. " Give it a read. Recognize what these people are saying? By the way, in the past month, emails have been sent out from the Association of SBDCs, soliciting client stories on behalf of journalists from the Times , Business Week , and The Wall Street Journal on issues currently being faced by small business owne