Today's most precious commodity? Gold continues to soar in price per ounce. And, yes, I see the price of gasoline. But in our culture I could make a case for claiming that our time and attention are becoming extremely precious.
For the family owned small business owner, gaining the attention of prospects and customers may be more than challenging in a "sound bite" culture. Let's face it, we're all suffering a little from A.D.D. as our attention flits from one thing to the next. In 1978 a consumer behavior study by Yankelovich determined that the average American was confronted by more than 2000 advertising messages per day. In repeating the study in 2008, Yankelovich discovered that the average American was bombarded by over 5000 advertising messages per day! How does a small business compete?
In 2010, lots of coin was dropped on advertising. Roughly,
$17 Billion on radio advertising
$71 Billion on direct mail advertising
$131 Billion on TV advertising
How does a small business with a small business budget compete?
I believe that Social Media is the great equalizer. The cost? Something family owned small business owners have proved they possess for decades: ingenuity and hard work.
Thank for sharing 59 seconds of your day,
Smitty
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