Wells Fargo and the Gallup organization has released a study that found small business owners still prefer word of mouth advertising over paid advertising. Forty- five percent of small business owners surveyed did not advertise in the past year.
"Small businesses traditionally have a very strong community focus, and it is clear from these results that this extends to how they prefer to advertise their businesses. A small business owner is more likely to talk to their hairdresser, their plumber, or their neighbors about their business, rather than spending their hard-earned capital on advertising. Those who do advertise clearly prefer their local community newspaper or business journal," says Rebecca Macieira-Kaufmann, executive vice president and head of the small business segment for Wells Fargo.
Out of the small businesses that are looking to advertise, 57 percent said they anticipate spending on internet advertising this year.