A survey conducted of 500 small business owners found that using social media is one of the most popular and successful marketing strategies. In the past year social media usage has doubled from 12% of to 24%. Small businesses are using to Facebook and blogs to create buzz around their company and over half of the business owners that took the survey believe the medium has met or exceeded expectations. 61% said social media helped increase engagement and awareness and brings in new costumers. They also said social media helped their business collaborate with their suppliers, partners, and coworkers. Owners however were surprised with the amount of time and energy that was needed to keep the ball rolling with their social media sites. Don’t be too discouraged though, over 50% of owners believe the outcome of their efforts paid for itself and was totally worth the time. More detailed stats from this survey:
- 58% said social media met expectations, 12% said it exceeded, 26% fell short;
- 22% said it increased company profit, 19% lost money, 45% believe it to be profitable by next year;
- 75% have a company page on a social networking site, 57% built network though LinkedIn or similar site;
- 37% use print advertising, 24% email marketing, 19% social media marketing, 18% phone sales, 17% direct mail, 14% broadcast advertising.