Media Consumption Habits - Small Business Owners

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Media Consumption Habits - Small Business Owners

Though information specific to white, male small business owners in Salt Lake City and Fort Lauderdale who are over 40 could not be located in the public domain, there are sources that briefly discuss the media consumption habits of small business owners in the United States. While these sources indicate that most small business owners in the country go online and use social media, they do not detail what these small business owners read or watch and whether these small business owners go to movies or watch television. Small business owners are known to be time-strapped, so the odds of them going to the movies are low.

HELPFUL FINDINGS

  • Of small business owners in the United States, 60% are between ages 40 and 59, 73% are male, and more than 75% are white. Over 40% of small business owners in the country were at least 40 in age when they started their small business. These figures indicate that most small business owners in the country are white males over 40.
  • Seventy-one percent of small business owners in the United States use social media, with the most commonly used social media channels being Facebook (86%) and Instagram (48%). Following Facebook and Instagram are YouTube (46%), Twitter (44%), LinkedIn (31%), and Snapchat (25%).
  • Compared to female small business owners, male small business owners in the United States are less likely to use social media. Seventy-four percent of female small business owners use social media, while only 66% of male small business owners do so.
  • Compared to younger small business owners, older small business owners in the United States are less likely to use social media. Seventy-nine percent of millennial small business owners use social media, while only 65% of small business owners over 35 do so.
  • Seventy-seven percent of small business owners in the United States regularly use technology for personal reasons including digital media consumption and online shopping.
  • Most small business owners listen to the radio. Ninety-three percent of small business owners in the United States is reached by radio each week.
  • Though the moviegoing habits of white, male small business owners who are over 40 are not publicly available, the following findings suggest that the odds of small business owners going to the movies are low.
    • Small business owners, in general, have limited resources and are very much time-strapped,
    • Seventy-one percent of small business owners in the United States struggle with maintaining work-life balance. They give up a substantial portion of their personal time to attend to their business.
    • Fifty-one percent of small business owners in the United States find it difficult to switch off from work, and 41% indicate they get pulled away from their break or personal time to attend to business matters.
    • Forty-two percent of small business owners in the United States sacrifice most of their hobbies and social life.
    • Small business owners in the United States have "less time off work, fewer meals with family, less opportunity to be home during the holidays and fewer needed visits to the doctor or dentist."
  • As far as reaching small business owners is concerned, social media ads may be more effective than movie theater ads. Small business owners, in general, report noticing a product or service for the first time while surveying the market (27%), through advertising (7%), or through social media (3%). The social media platform that ranks the highest for new product recognition or awareness is Facebook.

RESEARCH STRATEGY

In finding the media consumption habits of the specified demographic group, we employed a number of strategies. First, we checked if the media consumption habits of small business owners (and what these small business owners often read, watch, or listen to) have been studied in the past. We figured that such studies, if readily available, may contain information specific to older white males in Salt Lake City, Fort Lauderdale, or broader geographic areas containing these cities (i.e., Utah, Florida, Western Region, Southern Region, United States). Since media consumption habits can be determined through surveys, interviews, focus groups, and other quantitative and qualitative research techniques, we paid attention as well to whether relevant surveys, interviews, and the like have been conducted recently. Market insight provider Clutch, analytics company Gallup, and professional services firm Deloitte were among the sources we consulted. This first strategy yielded limited information, however, as most of the information we were able to gather through this strategy was about the social media habits and digital engagement of small business owners in the United States. It did not produce anything particular to white males over 40 in Salt Lake City and Fort Lauderdale. Also, searching for top or popular small business publications and podcasts did not produce credible results. A number of blog sites list the best publications and podcasts but they do not appear reliable.

Second, we looked for sources covering best practices for reaching or marketing/advertising to small business owners, taking into account again the geographic areas and demographic group of interest. Our rationale behind this strategy was that these sources may offer insights into (a) the effective advertising channels and (b) the types of media that small business owners typically consume. This strategy yielded only a few related articles that were published by Capterra and B2B Marketing. (Business software site Capterra is based in the United States, while B2B marketing resource B2B Marketing, though based in the United Kingdom, has operations in the United States.) These articles touched on the media consumption habits and purchase journey of small business owners only briefly, but we learned an important detail: that small business owners are generally time-strapped. Again, no information specific to white males over 40 in Salt Lake City and Fort Lauderdale was found.

Third, given that the ultimate goal is to determine whether movie theater ads would be effective in reaching the target audience, we looked into how small business owners spend their leisure time. We figured this strategy may lead us to clues about the target audience's media consumption habits. Taking into account again the desired demographic group and expanding the geographic scope as necessary, we looked into the target audience's hobbies and interests. Articles published by Business World-powered SparkUp, financial technology company Kabbage, and magazine Entrepreneur were among the sources we consulted. From these sources, we learned more about how small business owners spend their time, and we were able to gather a number of details suggesting that small business owners, in general, do not have the time for leisure activities such as going to the movies.

Details particular to white males over 40 in Salt Lake City and Fort Lauderdale are not available in the public domain as this cohort is a niche demographic group. However, given that small business community Manta, small business resource All Business, and small business financing company Guidant Financial together indicate that most small business owners in the United States are white males over 40, it may be safe to assume that small business owners who are white males over 40 in Salt Lake City and Fort Lauderdale behave more or less the same as the average small business owner in the country.


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