Social Media Use on the Rise for Small and Medium Firms

With the immense popularity of social media, more and more SMBs (small and medium-sized businesses) are now using such media. It’s not just for the big retailers anymore.
According to BIA/Kelsey’s most recent “Local Commerce Monitor” (July 2014), which is ongoing research on the advertising behavior of SMBs), about three-quarters of the firms said they are using social media to promote their businesses — “more than any other category of media.”
BIA/Kelsey reported that:
“Facebook dominates SMB usage, with 55.1 percent of SMBs reporting they have a Facebook page for business use, and 20.0 percent reporting they have run a Facebook ad or promoted post. At the same time, strong showings by other platforms, including LinkedIn, Pinterest, Instagram, and Twitter’s promoted tweets, indicate the social space is highly robust for SMB marketing. SMBs reported spending 21.4 percent of their total media budget on social media in the past 12 months.”
“The survey covers over 35 different media and platforms used by SMBs for advertising and promotion. These media fall into 10 top-level media categories: online (e.g., search, display ads, blogs); traditional (e.g., direct mail, newspapers); mobile (e.g., search, SMS, display); local coupons (print and online); social (e.g., Facebook, Twitter); video (e.g., Web site videos, YouTube); broadcast; local directories (print and online); giveaway items; and community sponsorships.”
Here is an infographic summary.

 

 

This entry was posted in Online Retailing, Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 7: Communicating with the Customer, Social Media and Retailing and tagged , , , , , , , , , , , , . Bookmark the permalink.

One Response to Social Media Use on the Rise for Small and Medium Firms

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