You can be on Entrepreneur’s cover!

Where to Focus Your Business's Ad Dollars in the New Year Here, new data that can help you plan where your business should spend on advertising in 2012.

By Mikal E. Belicove

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

Where Consumers Go to Research Local Businesses

The Internet is settling in and getting all comfortable in its new role as the reliable, go-to source for people looking for news and information about local businesses, especially restaurants and bars.

Newspapers -- in printed form on the doorstep or newsstand, or on newspaper websites -- also register as good sources for information about small businesses, as does word of mouth.

These were the major findings contained within a 30-page report released this week by the folks at Pew Research Center called "Where People Get Information About Restaurants and Other Local Businesses." And if there were any doubts remaining about the impact of the Internet on businesses, this survey should quash them.

More than half of the survey respondents report that they rely on online sources to obtain details about a restaurant or bar. That compares to the roughly one third of consumers who turn to the newspaper for such information. And another quarter of respondents said they listen to those around them to garner details about an eatery or a social club. Bringing up the rear is local television (either broadcasts or the station's website) at 8 percent.

Pew's findings offer a wealth of information for entrepreneurs and small business owners, especially during the gift-buying season. Small business owners and merchants need to know where to advertise to generate more business, and this report points directly to the Internet, as well as newspapers and word-of-mouth.

Related: How to Use Social Media for Research and Development

And looking ahead, business owners should be studying these figures to determine where their fiscal year 2012 advertising dollars are going to be spent. Aligning your marketing budget with an eye on where the consumer is turning for recommendations and information on products and services just makes sense.

Of those who rely on the Internet for details on restaurants, bars and local businesses, 38 percent said they turn to search engines, with another 17 percent signing on to specialty websites, says the Pew survey. Perhaps most surprising finding is that only three percent turn to social networking sites such as Facebook or Twitter.

Related: Measuring Offline Vs. Online Word-of-Mouth Marketing

But another set of figures is probably of more interest to entrepreneurs and small business owners who don't run restaurants or social establishments. These are survey results that exclude dining venues and taverns. Of the two thirds of adults who say they seek news and information about local stores, shops and services, nearly half of them say they rely on the Internet. Within that group, 36 percent rely on search engines, 16 percent turn to specialty websites and 1 percent say they find businesses on social-media sites. Another 22 percent rely on recommendations from friends and family, and another 8 percent turn on local television broadcasts or look up websites of local stations.

Where do you plan to focus your business's ad dollars in the New Year? Leave a comment and let us know.

Mikal E. Belicove is a market positioning, social media, and management consultant specializing in website usability and business blogging. His latest book, The Complete Idiot’s Guide to Facebook, is now available at bookstores. 

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Growing a Business

To Achieve Sustainable Success, You Need to Stop Focusing on Disruption. Here's Why — and What You Must Focus on Instead.

Instead of zeroing in solely on disruptive innovation, embrace a pragmatic approach to innovation, recognizing and leveraging the potential within ongoing industry shifts.

Business News

Mark Zuckerberg Says This CEO Is the 'Taylor Swift' of Tech

Meta's CEO posed with Nvidia CEO Jensen Huang on Instagram Wednesday.

Real Estate

3 Emerging Trends Shaping the Future of Real Estate

These three innovations are reshaping the real estate industry — discover tips for effectively covering these trends.

Leadership

What We Have to Gain By Talking About Grief and Loss At Work

I lost my husband to cancer during Covid — here's how it changed how I lead at work.

Side Hustle

This Mom Started a Side Hustle After a 'Shocking' Realization in the Toy Aisle. Her Product Was in Macy's Within the Year — Seeing Nearly $350,000 in Sales.

Elenor Mak, now founder of Jilly Bing, didn't plan to start a business — but the search for a doll that looked like her daughter inspired her to do just that.

Fundraising

Avoid These 9 Pitch Deck Mistakes When Asking Others For Money

Crafting an efficient pitch deck requires serious effort, but at least it's not wandering in the dark since certain rules are shaped by decades of relationships between startups and investors.