According to recently released Small Business Success Index which was sponsored by Network Solutions and University of Maryland’s Smith School of Business, small and medium sized businesses in US are opting for social media to boost their customer base.
As per the reports, the SMBs opting for social media has doubled from 12 percent to 24 percent when compared to 2009.
As per SBSI, 1 out of 5 small business owners are actively using social media in their business. SMBs are showing more interest in investing in social media applications including blogs, LinkedIn, Facebook profiles.
Many of the small businesses are attracting new customers by utilizing the benefits of social media. About 75 percent of them who were surveyed have a company page on social networking sites. More than 61 percent of SMBs are using social media to attract and identify new customer. 57 percent of them have a built network through social networking sites. About 45 percent are expecting that the social media will be profitable in the next 12 months.
Small business owners are a bit concerned over the social media. About 50 percent of small business owners who use social media expressed that it is taking more time than expected. 17 percent of the small business owners expressed that social media is giving a chance to criticize their business on the Internet. About 16 percent feel that social media has damaged their image on Internet more than it had helped.
Many of the small businesses have experienced positive effects because of the economic downturn. More than 72 percent were able to find ways to efficiently operate. It has increased from June which was just 66 percent. 47 percent of the small businesses were encouraged to find new products and services which would benefit their customers. About 43 percent of the small businesses could get better teams.
The small businesses are largely focusing on online presence. They are largely investing on company websites. They are adding new features to their website and hence increasing their functionality. This will enable them to showcase their new products and services. This will ultimately attract many customers to their website.