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SMB's gain advantage from social networking
Small and medium-sized businesses are more successfully utilising social media to generate revenue than larger companies, according to research conducted by Regus.
The data has revealed that 44% of SMEs have acquired new customers using networking sites compared with 28% of large firms.
While some businesses were initially slow to fully embrace social media there are now 700,000 small businesses with fan pages on Facebook. With tangible return on investment becoming visible 28% of small firms are now even dedicating marketing budget to social media.
"Our survey has revealed that social networking has finally become an effective business tool and SMEs are leading the way in this. Whilst the most popular function of these networks remains that of keeping in touch with contacts, small businesses are also successfully acquiring new customers, supporting their retention efforts and interacting with customer groups," said Mark Dixon, CEO of Regus.
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