Earlier this month local advertising firm Borrell Associates released its annual Outlook survey for 2011, which attempts to gauge where small and medium-sized businesses fall with investing in online advertising. This year’s study was particularly interesting, noting that SMBs actually make up for 95 percent of all local advertising online. They may not spend much on average (the average SMB spends less than $12,000 on all advertising; of that, $2,300 goes to online advertising), but their sheer numbers make them a demographic that everyone is trying to reach, which may help explain why Google has become increasingly aggressive in marketing to SMBs over the past year.