Surveys

Small Businesses to Spend More on Video Ads in 2021, Says Survey

SurveysFeb 23, 2021

Small Businesses to Spend More on Video Ads in 2021, Says Survey

More than 35 percent of small businesses surveyed by The Manifest expect to invest more in video advertising this year.

More than half of the small businesses surveyed by The Manifest advertise on social media platforms, making it the most popular form of advertising.
Washington, D.C.—More small businesses are expected to spend their ad dollars on video advertising in 2021, according to a survey by business news site The Manifest.


Its 2021 Small Business Survey reached out to 500 U.S. small business owners and managers about their advertising efforts.
Nearly one-third (32 percent) of those surveyed already advertise on digital video platforms with 35 percent expecting to up their investment this year.
By 2022, videos are expected to account for 82 percent of internet traffic, as per a Cisco study cited in the survey.
The survey touts the benefits of video advertising, including increased user engagement, the ability to combine visuals and a narrative, expedited sales, and greater brand awareness.
Businesses should make use of social media platforms like YouTube, TikTok, and Snapchat, said Dave Nilsson, founder of SEO agency The Converted Click, in a press release about the survey results.
More than half of small businesses (55 percent) advertise on social media platforms, the most popular form of advertising of those surveyed, with 45 percent expecting to increase their investment this year.
“Companies can no longer rely on traditional advertising strategies like trade shows or in-person events,” said Eric Clay, CEO of digital marketing firm Vale Creative, in a statement.
“The most important thing small businesses can do is make sure they are advertising on the right social channel for their business.”
Facebook was the most popular place for small businesses to advertise at 66 percent, followed by YouTube (42 percent) and Instagram (41 percent).
Short-form video platforms were less popular with Snapchat at 15 percent and TikTok at 12 percent.
"Businesses can add a fun element to marketing campaigns through TikTok videos or partner with creators to boost brand visibility through user-generated content," said Nilsson.
About half of small businesses (47 percent) budget up to 30 percent of their ad spend to social media while 39 percent of businesses allocated between 31 to 70 percent. Only six percent of small businesses spent more than 70 percent of their advertising budget on social media ads.
More than one-quarter (28 percent) utilize print advertising, though 24 percent plan to spend less on print ads this year.
Pay-per-click advertising will also see more ad dollars this year with 19 percent of businesses surveyed planning to spend more on it this year.
Despite the COVID-19 pandemic, 38 percent of small businesses have
increased their ad spending while 22 percent spent less.
The majority of small businesses (55 percent) spent less than $50,000 on advertising in 2020 while 11 percent spent more than one million dollars.
The majority (68 percent) of businesses with fewer than 10 employees spent under $10,000 while only 4 percent spent more than $100,000.
Of those businesses surveyed with more than 50 employees, seven percent spent less than $10,000 while 47 percent spent more than $100,000.
The U.S. Small Business Administration recommends that small businesses invest about 8 percent of their gross revenue in marketing or advertising efforts, said the survey.
Lenore Fedowis the associate editor, news at National Jeweler, covering the retail beat and the business side of jewelry.

The Latest

MajorsJun 27, 2022
George Holmes, Longtime Head Editor of JCK Magazine, Dies at 93

He first took a job at then Philadelphia-based Jewelers’ Circular-Keystone in 1963 and retired in 1996.

MajorsJun 27, 2022
Mayors, Analog:Shift Team Up With Goop

The lifestyle platform will stock fine jewelry and watches from the retailers on its website and in store.

CrimeJun 27, 2022
JSA Warns of ‘Pandemic’ of Distraction Thefts Nationwide

It cited two recent cases in California, plus incidents in Florida, Kansas, and Illinois.

Brought to you by
Preparing for Proposal Season with High-Quality, A.I.-Graded Natural Diamonds

Rare & Forever is helping to create an enjoyable diamond buying experience for the millions of newly-engaged couples.

IndependentsJun 27, 2022
Lewis Jewelers Set to Open New Ann Arbor Store This Summer

The 10,000-square-foot location allows for expanded collections from design partners while continuing custom design and other services.

Weekly QuizJun 23, 2022
This Week’s Quiz
Test your knowledge of the latest jewelry news with this quick test.
Take the Quiz
CollectionsJun 27, 2022
This Designer Has Found a New Way to Bring Gemstones to Life

Svetlana Lazar’s “Wishing Well” collection utilizes an innovative component to mimic the movement of water beneath them.

Supplier BulletinJun 24, 2022
AGTA GemFair™ Denver is the Place to Be in September!

Sponsored by AGTA

Brought to you by
Discover The Extraordinary Italian Jewelry In Las Vegas!

Experience all the Italian Jewelry market has to offer in Las Vegas.

Recorded WebinarsJun 24, 2022
Vegas Jewelry Recap: The Editors Weigh In

Watch the webinar in which National Jeweler’s editors talk about jewelry market week trends and their predictions for the rest of 2022.

MajorsJun 24, 2022
Banter by Piercing Pagoda Celebrates Pride with ‘SayGay’ Necklace

All proceeds up to $25,000 will benefit the It Gets Better Project, a nonprofit that supports LGBTQ+ youth.

CollectionsJun 24, 2022
Piece of the Week: Marie Lichtenberg’s Hidden Message Locket

It’s a reminder that life is best lived with discretion.

TechnologyJun 24, 2022
Cloud-Based POS Software Jewel360 Launches for Jewelry Retailers

The end-to-end software allows for real-time control over all sales, inventory, repairs, customer communications, and marketing.

EditorsJun 23, 2022
Antique Show Observations From a First-Time Attendee

Associate Editor Lenore Fedow shares her impressions of the Las Vegas Antique Jewelry & Watch Show and a few of her favorite finds.

GradingJun 23, 2022
AIGS Launches Grading Report for ‘Santa Maria’ Aquamarine

The Asian Institute of Gemological Sciences aims to set a color standard for the trade name.

SourcingJun 23, 2022
Rough Diamond Sales Rise Again for De Beers

Sales were up 36 percent year-over-year in June and are pacing 24 percent ahead of last year at this point.

AuctionsJun 23, 2022
Auction House Freeman’s Appoints First Rep in Florida

Kate Della Monica, a senior specialist in the Jewelry and Watches department, will relocate to the Sunshine State.

Lab-GrownJun 22, 2022
LVMH Luxury Ventures Sinks Money Into Lab-Grown Diamond Start-Up

LVMH’s investment arm has taken a stake in Lusix, a lab-grown diamond company based in Israel.

AuctionsJun 22, 2022
Here’s How Two 100-Plus-Carat Diamonds Did at Auction

Sotheby’s New York put a colorless diamond and a fancy deep orange-brown diamond up for sale last week, with mixed results.

CrimeJun 22, 2022
Leviev Diamonds Launches Bracelet to Help ‘Tinder Swindler’ Victims

Profits will help them recoup financial losses.

MajorsJun 22, 2022
Swarovski Names First Non-Family CEO

Retail veteran Alexis Nasard will step in as CEO on July 4.

SourcingJun 22, 2022
Edward Asscher to Remain WDC President for Another Year

The organization also extended the terms of Vice President Feriel Zerouki and Treasurer Ronnie VanderLinden.

ColumnistsJun 21, 2022
State of the Majors 2022: Reflections on Resilience

After suffering a professional setback, columnist Peter Smith reflects on our ability to bounce back even when the hits keep on coming.

IndependentsJun 21, 2022
Jeweler Tommy Glatz, Known for Being Creative and Kind, Dies at 68

Glatz owned and operated Glatz Jewelers in Aliquippa, Pennsylvania for more than 40 years.

Events & AwardsJun 21, 2022
24 Karat Club of Southern California Will Honor These Industry Leaders

The organization will present three awards at its annual dinner, dance, and gala in October.

MajorsJun 21, 2022
David Yurman Hires Chief of People, Strategy

Former McKinsey partner Emily Yueh marks new president Evan Yurman’s first hire.

TrendsJun 17, 2022
Britney Spears Wore Over $500K of Stephanie Gottlieb Diamonds at Her Wedding

The New York jeweler also made the pop star’s wedding bands.

AuctionsJun 17, 2022
5-Carat Paraiba Tourmaline Ring to Hit the Auction Block

It’s predicted to sell for up to $484,000 during the Bonhams Hong Kong Jewels and Jadeite auction on June 22.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy