Local Merchant Report 2017 - Selling Strategies - cover

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Most local merchants are growing or maintaining their overall marketing spending, and they’re shifting more of their budget to digital tactics.

In this latest report, a focus on key data in the comprehensive Local Merchant Report 2017, Street Fight’s analysis shows that it is worth a supplier’s trouble to start small and grow along with the customer. It would be ideal to be a one-stop provider of a suite of marketing services, both for revenue volume and customer lock-in, as well as for ease of integration and campaign coordination and optimization. But despite a fast-changing and fragmented market, it appears that most local merchants already work with multiple suppliers and are fairly comfortable doing so.

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Product Description

Among the key findings of the report are:

  • Although merchants that spend $25,000 or more annually on marketing are the best opportunity for vendors, there is compelling evidence of momentum spending. Social media and email marketing are the most widely used tactics, and they’re likely to get increased budget going forward. Bigger spenders have more trouble finding the time to manage marketing than smaller merchants. Everyone needs help with search and reputation management.
  • Vendors have a variety of perspectives on suites, starter kits, and sales approaches. Packaging and upselling seemingly depends less on the local merchant’s vertical industry and more on the age of the business, or its primary marketing objective.
  • Most local merchants work with an average of 2.7 suppliers for their marketing and advertising needs. And even though many take a hands- on approach to digital marketing, they’re mostly comfortable working with multiple suppliers, using an agency, or outsourcing.

This report offers “cheat sheets” based on attitudes and marketing adoption patterns to help with positioning and selling local technologies and services to these merchants. A sneak-peek at some key takeaways:

  • Multi-sourcers have the fastest growing budgets, and are moving them to digital the most. Well over half of them are increasing their spending on social media, likely to address company branding and awareness…
  • Outsourcers are very keen on mobile marketing, and they’re already heavy users of paid Facebook ads. Their desire to outsource is driven by a lack of time and dedicated resources, so they’re probably interested in some level of “Do it for Me” social media marketing and paid search…
  • Those that prefer to work with consultant or agency actually use agencies fairly rarely, although they do so more than most local merchants. They’re increasing spending on digital display advertising, and they’re already using mobile marketing regularly…
  • Lead-buyers represent a very small segment, so readers should be cautious about over- interpreting the survey results. They might be latecomers in moving from traditional media into digital…