Social media marketing is getting increasingly popular because of its ability to connect and reach targeted audiences virtually, within less time, and less effort. Especially, small businesses are finding social media very helpful for branding and marketing.
eMarketer says that one in every four people will have a social media account in 2013 across the world. This shows how much popularity social media is gaining in the world. So, if your small business does not yet have a social media presence, then now is the time to start social media marketing.
Facts about social media and small businesses
Here are some facts that show how social media is making big impact on small businesses.
- Constant Contact reported that 49% of small businesses have found social media marketing effective for their businesses.
- According to Socialmediatoday, 44% of small business decision makers are using social media websites to extract information of other businesses.
- 73% of small businesses were using social media in 2012 according to mediabistro.
- eMarketer reported that 24% of small businesses have integrated social media in a structured way into their business.
- Facebook is leading among all the social websites with 82% of small businesses registered; it is followed by YouTube, Twitter and LinkedIn with 73%, 47% and 47% respectively. (Source: Mediabistro).
- 80% of small businesses use social media websites for monitoring and collecting information about competitors to their businesses (Source: Socialmediatoday).
- Lead-to-close rate is 100% on social media than traditional marketing methods (Source: Socialmediatoday).
- 80% of customers on social networks prefer to connect themselves to brands through Facebook (Source: Socialmediatoday).
- 53% of small businesses use social media as an engagement tool for providing 2-way conversation customer support (Source: Socialmediatoday).
- It might also be surprising to know that 86% of social referrals are done by Facebook, while 11% and 3% are done by Pinterest and Twitter respectively (Source: Socialmediatoday).
Time spent by small businesses on social media websites
- According to Socialmediatoday, 21% of small business marketers are spending at least an hour on social media per day, while 58% are spending at least 10 minutes on social media per day.
- 50% of small businesses have increased time spent on social media compared to last year and reported gaining new customers and better business (Source: Swiftpage).
- 80% of small business marketers have understood importance of social media marketing and are planning to increase their time spent on social media this year (2013) (Source: Socialmediatoday).
Purchases made through social media
- 46% of online users are counting on social media before making purchase decision (Source: Neilsen).
- 71% of users of social media websites say that they are more likely to purchase products from the brand they follow online on different social media websites (Source: Digitalsherpa).
- 15% of customers use social media websites to search for local businesses. This is biggest advantage to local and small businesses (Source: Digitalsherpa).
- 63% of users prefer businesses with the information that can be easily accessed on the social media websites (Source: Digitalsherpa).
Customer acquisition on social media
According to Socialmediatoday,
- 52% have found their customers on Facebook in 2013.
- 43% have found their customers on LinkedIn in 2013.
- 36% of marketers have acquired customer on Twitter in 2013.
From the above facts and figures, it is clear that many small businesses are utilizing different social media platforms for various purposes and reporting gains and profits. Is your business next?