Small businesses are embracing social media sites at a record rate.
With the economy and spending in decline small businesses are flocking to adopt social media marketing strategies to level the playing field in the local markets. With SMB’s social media usage increasing from 12% last year to 24% this year, common usage of social media among small business was a company page on a social networking site, followed by posting status updates.
As eMarketer explains: Most small businesses say they are just breaking even with their current usage of social media, but a solid one-fifth find it profitable already. Businesses are positive about the potential as well: Nearly one-half believe it will make them money in the next 12 months, and another 39% think they will break even on it. Just 9% think social marketing will continue to be a losing proposition.
Social media levels the playing field for small businesses by helping them deliver customer service.
Overall, more than half of all respondents felt that social media lived up to their expectations. One-half felt it took up more time than they realized, but only 6% claimed negative comments on social media had hurt their business.
How has social media affected your small business?