Back in October, Citibank conducted a study of small businesses, and found that 75% of small business DON’T find social media useful. (For the study, 500 U.S. businesses with fewer than 100 employees were surveyed.) It was also found that, to generate business leads and sales,
• 25% are using more online advertising
• 28% are using more email marketing
• 42% have made greater use of their company websites
There are a myriad of reasons why small businesses are slow to adopt social media tactics.
“What this survey indicates to us is small businesses are very, very focused on running their business and on generating sales and managing their cash flow and doing the things that are really important, especially in these economic times,” Veltre said. “I don’t think quite yet the social media piece of it has proven to be as significant.”
Another study conducted by Inc. 500 has revealed that 91% of Inc. 500 firms are using at least one social media tool in 2009, and about 75% declared that they are “very familiar” with social networking.
The statistics below will show you why.
Surprisingly (to me at least) , blogging has yet to cross the 50% mark. I would have figured the rate would be higher. Is it that the value of a corporate blog is undermined? Or is it not worth the effort to blog good content? Many companies would rather stick to tools like Facebook and Twitter, where information is disseminated in bite-sizes.
Anyhow, it is apparent that the social media wave is not dying off any time soon, and Inc. 500 companies are definitely making full use of these tools. Will small businesses catch up? Or are social media tactics not as applicable to small businesses?