Small businesses are the economic engines that drive job growth and advertising sales in local markets. When small businesses – whether they are shoe stores or landscapers – feel expansive, it’s time for media sales reps to start calling. Reps don’t want to miss an opportunity to turn a prospect into a client or sell more advertising to clients. The results of the 2016 Year-End Economic Report from the National Small Business Association show small businesses have an optimistic outlook for 2017.
For the first time in two years, over half (53%) of small business owners say the national economy has improved from the level it was at a year ago. Even better, 54% say the next 12 months should be a period of economic expansion, while 34% expect flat conditions. The positive attitudes extend to a good outlook about the small business owners’ prospects with 34% feeling very confident and 46% being somewhat confident they’ll have a good future.
To make sure their revenues grow, 46% of SMBs will introduce new advertising and marketing strategies this year. In fact, the focus on advertising tops other initiatives like building strategic alliances (22%) and hiring new employees (27%). 26% of SMBs will roll out new products and 10% intend to open new stores. These major changes will require both branding and promotional campaigns to attract attention in the marketplace.
Before the first quarter ends, media sales reps should be checking in with clients and prospects to learn about their specific plans for 2017. Work with your local SMBs to help them roll out the kind of advertising that will excite consumers about doing business in the local market.