Studies show that up to 70% of small businesses are already using social media as a marketing tool, and spending on social media marketing is projected to rise by as much as 35%. Of businesses who aren’t currently taking advantage of the medium, over 40% say they intend to start within the next three months.
That means that many of your competitors have embraced new media as part of their arsenal, and more are ready to sign up. So the question is:
What are you waiting for?
Webs.com surveyed small businesses and found that a majority are already using sites like Facebook and Twitter as part of their marketing and customer service efforts. They also learned that nearly half the businesses who haven’t adopted social media plan to do so — soon.
And while many of the businesses surveyed (59%) feel that new media has not met or somewhat met their expectations, over 77% say they plan to spend more money on it. Why? Because 62% say social media is a viable way to connect with their customers.
“Our findings indicate that small business owners are still learning social media skills. While they may not yet posses the ability to produce big results, they see the potential of social media and are willing to invest more time and money into experimenting with it this year.”
Another survey by Access Markets International, the 2010-2011 U.S. Small Business Marketing Activity and Spending Study, found that businesses plan to increase their social media spending this year – by a whopping 35% overall.
That means if your customers can’t find you on social media, odds are good they’ll be able to find your competitors. Fortunately, there’s enough room on the web for everyone – but if you don’t show up to the race, you have no chance of winning.
“Wait“, you say. “What about those businesses who say that social media isn’t meeting their expectations?” Well, the same Webs.com survey shows some admittedly aren’t putting enough into it.
Over 42% of businesses responded that they allotted 0-10% of their marketing budget to new media, and an incredible 21% allotted nothing. More important than the amount of money allocated, considering the venue, is time invested. 36% of businesses say they update social media once a week or less, with 10% doing so once a month or less. (In social media, a month is forever. If a business is updating that infrequently, they probably shouldn’t bother.)
So, fine… we’ve thrown a bunch of numbers at you. And by now you’re probably wondering “But what does all this mean to me?”
It means while your competition may have won the race to social media, they probably aren’t doing it right — and, at the end of the day, that’s all that matters.
We offer the opportunity for you to enter the new media marketing race, working within your established budget, with the kind of customer engagement that works. We can get you started without the trial and error process that wastes your time and money. And if you’ve already created your online “presence”, we can make it better.
You know your business. We know social media. Together, we can develop a plan that will help attract new customers and engage the customers you already have in a way that builds brand loyalty.
Call or email for a consultation.
Hey! We said, “What are you waiting for?!” Click the link, and let’s get to work!