Small Businesses in Financial Services


Financial Services small businesses serve both consumers and businesses and face big challenges as their customers increasingly turn to digital for their shopping and banking needs. How financial services small businesses are responding to this change and their adoption of technology is a key part of BIA’s report on Small Businesses in Financial Services. This report provides insight and analysis on small businesses in Financial Services including their use of business tool and marketing behaviors, spend on technology and advertising tools, and use of agencies to help them socialize their messages. Media and technology companies selling to financial service companies can gain an understanding of what financial services businesses are buying and spending in order to attain and retain customers.  Digital agencies can learn from this the best mix of traditional and digital media that works for this group of small businesses. Leaders at financial services small businesses can benchmark how they are performing in their marketing and advertising strategies.

Content Summary

BIA Advisory Services’ report on Small Businesses in financial services includes key data from The Local Commerce Monitor (LCM) survey of small businesses. The report also has an in depth look at the usage, spend and ROI on more than 55+ different media platforms, which fall into these 10 top-level groups:

  • Online Advertising (e.g., search, display ads, blogs)
  • Traditional Advertising (e.g., direct mail, newspapers)
  • Print and Online Coupons
  • Broadcast Advertising
  • Promotional Advertising
  • Video Advertising (e.g., website videos, YouTube)
  • Mobile Advertising (e.g., search, SMS, display)
  • Social Advertising (e.g., Facebook, Twitter, Pinterest, Instagram, promoted tweet)
  • Local directories advertising
  • Community sponsorships

Who Should Read This Report?

  • Executives in charge of marketing and/or product development targeted to small businesses
  • Senior leaders evaluating opportunities in the small business marketplace
  • Any executive with a role in selling digital or traditional media products
  • Anyone focused on the trends and direction of financial services small businesses