Study Finds Social Media Untapped by Small BusinessesOctober 28, 2010 By: Melanie Gretchen
A recent survey conducted by customer review firm RatePoint found that among the few amount of small businesses (SMBs) that use social media like Twitter and Facebook, even fewer use it to their advantage. The study found among 150 SMBs using social networking, 36 percent recognized their customers use social networking sites frequently and 36 percent of those thought their customers want to hear from them onnline, compared to 28 percent who think their customers don't.
Compared to the 36 percent of participants who acknowledged their customers' use of social media, 27 percent were undecided and 20 percent didn't believe their customers used the media at all. The amount of respondents who thought that "social media is a quick way to connect with prospective customers" totaled 35 percent. Those SMDs that have plans to implement social networking sites in the next 12 months look forward to a significant return on investment because of the low cost.