Social media is being used for business almost everywhere. From corporate giants to the smallest business startups, everyone is using social media to establish a foothold in consumer market. Facebook, Twitter, LinkedIn are all tools of the trade in the new age of social media savvy business marketers, with their number increasing with each passing day.
Here are some trends visible in social media usage for business by various small to medium sized organizations, which are likely to rise further as time progresses:
- Rapid growth in the rate of adoption of social media marketing: Small businesses have come to rely on social media more than ever, thanks largely due to the significantly low investment required in this field. As many as 75% of small businesses now have a page for their company on various leading social networking websites. Approximately 40% of small businesses regularly maintain a business blog, while 16% use Twitter as a channel to promote their products and services.
- More investment in social media marketing: In the next few years, investment in social media marketing is likely to rise many times over the present amounts. In fact, a recent study conducted jointly by American Marketing Association and Fuqua School of Business of Duke University revealed that in the next 5 years, investment made by small businesses towards marketing their products and services via social media is likely to increase as much as 18%. Presently it is only a meager 6%.
- A sharp eye on outputs: Even a year or two ago, social media marketers used to look up the outputs of their social media marketing efforts maybe once or twice a month. But these days, those same marketers check out their Twitter feeds or Facebook profiles at least twice a day. This clearly reflects that they are taking social media more seriously than ever before. And this is a trend that is bound to rise further with time.
Social media is a tool for the small businesses, but giants are not staying behind either. The rapid adoption of this new tool of mass marketing is sure to grow even further as time progresses, and nothing can stop this major change in the business world.