SourcingApr 18, 2024
Diamond Trade Remains Cautious Amid Economic UncertaintyDe Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
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.
RELATED CONTENT: Watch: Insights, Tips and Tricks to Make the Most of TikTok
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.
More on Surveys
The Latest
Supplier BulletinApr 18, 2024
Discover History’s Hidden Gems at the Las Vegas Antique Jewelry & Watch ShowSponsored by the Las Vegas Antique Jewelry & Watch Show
WatchesApr 18, 2024
Watch E-tailer Collectability Hires Kelly YochThe Patek Philippe expert will serve as personal curator for the brand-focused company.
Brought to you by
The Blueprint for Success in Scalable, Personalized Jewelry RetailWith Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
WatchesApr 18, 2024
TAG Heuer Opens Its Largest Standalone Boutique at SeaThe 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
Weekly QuizApr 11, 2024
This Week’s QuizTest your jewelry news knowledge with this seven-question quiz.
Policies & IssuesApr 17, 2024
NDC Prevails in U.K. Case Over Lab-Grown Diamond AdvertisingNDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
Events & AwardsApr 17, 2024
And the 2024 Winner of the Shipley Award Is … John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
Brought to you by
How Jewelers of America Represents Your BusinessFor over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
FinancialsApr 17, 2024
LVMH’s Q1 Jewelry Sales Fall 5%LVMH said the company performed well despite an uncertain geopolitical and economic environment.
MajorsApr 17, 2024
Stuller’s B&D Opens New HeadquartersB&D Sales and Service held a ribbon-cutting event for its new location in Cranston, Rhode Island.
CollectionsApr 16, 2024
Akaila Reid Launches ‘Eat Cake’ CollectionIt’s ultra-feminine and filled with gold, pearls, and soft pastels.
MajorsApr 16, 2024
Loudr Adds 2 DirectorsEmily Highet Morgan and Emily Bennett have joined the agency’s team.
MajorsApr 16, 2024
Stuller Releases First Lab-Grown Diamond Jewelry CatalogIts updated book for mountings is also now available.
SourcingApr 16, 2024
Karen Rentmeesters Takes Over as Interim CEO of AWDCShe has been with the organization since 2010, most recently serving as its chief officer of PR and industry relations.
TechnologyApr 15, 2024
Judge Rules Jeweler’s Lawsuit Against PNC Bank Can Move ForwardJoyce’s Jewelry sued the bank after cybercriminals drained its accounts of nearly $1.6 million through a series of wire transfers.
IndependentsApr 15, 2024
Alfred W. DeScenza of DeScenza Diamonds Dies at 95He is remembered by loved ones for his loyalty, integrity, and kindness.
AuctionsApr 15, 2024
Madeleine K. Albright Jewelry, Pins Coming to AuctionHosted by Freeman’s | Hindman, the sale will take place May 7-8.
AuctionsApr 15, 2024
All of Sotheby’s ‘Rough Diamonds’ Sold in Less Than an HourThe auction house said all 24 timepieces offered in its underground sale of rare and avant-garde watches quickly found buyers.
Events & AwardsApr 15, 2024
10 Can’t-Miss Sessions at AGS Conclave 2024From lab-grown diamonds and AI to the inevitable Taylor Swift mention, here are some of Conclave’s most intriguing educational offerings.
Recorded WebinarsApr 12, 2024
Watch: What Jewelers Need to Know About InsuranceFrom cybersecurity liability to trade show coverage, insurance experts share tips on how to build the right policy.
CollectionsApr 12, 2024
Piece of the Week: Lionheart’s Evil Eye Gemstone CharmThe charm is a modern rendition of the evil eye amulet that has been worn for thousands of years.
Events & AwardsApr 12, 2024
The Jewelry Symposium Announces 4 Scholarship WinnersAhead of its trade show next month, TJS awarded free registration and accommodations to one jewelry professional and three students.
Policies & IssuesApr 11, 2024
SRK Exports’ Journey Toward Net Zero Impact By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.
Lab-GrownApr 11, 2024
AGTA Bans Lab-Grown Diamonds, Gemstones at GemFairMembers can still sell lab-grown stones, it said, but only natural gems are allowed on the show floor.
IndependentsApr 11, 2024
Steven Rosdal, Co-Founder of Hyde Park Jewelers, Dies at 77He is remembered for his charisma, passion, integrity, kindness, and wit.
MajorsApr 11, 2024
Macy’s Opens Books for Possible BuyoutThe retailer also appointed two new board members, avoiding a proxy fight from a potential buyer.
CollectionsApr 10, 2024
Sylvie Launches New Nature-Inspired Collection, ‘Tulira’The bridal collection consists of 35 engagement rings and seven wedding bands.
