As the speed of commerce increases, small and medium-sized (SMBs) know they need to stay top of mind with prospects and customers. The need to generate awareness is even more urgent for marketers who are in hyper-growth mode. LinkedIn has released a new study showing that its social network is a valued marketing tool for SMBs.
According to LinkedIn, 81% of SMBs are using the network. Most, 94%, say their chief goal for using this social media site is marketing. The LinkedIn study also looked at the unique situation of hyper-growth companies. These SMBs, who comprised 16% of the sample and are experiencing rapid year-over-year sales increases, say the following about social media:
Helps create awareness 91%
Generates leads 82%
They plan to increase their social media budgets this year 75%
Analysts anticipate more SMB interest in other leading social platforms as well. They note that 25 million SMBs current have active Facebook accounts. Many of these businesses could be potential ad revenue sources for Facebook and for marketing services organizations as they expand their reach on this popular site. Twitter continues to improve its tools for SMBs who believe microblogging is the best way to catch the interest of prospective clients.
The results of this study are similar to the findings published by Ad-ology Research in its 2014 Small Business Marketing Forecast. In that study, 25.3% of SMBs noted their intent to spend more on paid advertising on Facebook, LinkedIn, and Twitter this year. Over half, 52%, expect their investment will help them generate more leads.
To learn more, check out the report from Ad-ology Research.
Kathy is the Vice President of Research for SalesFuel. She holds a Masters in Business Administration from the University of Vermont and oversees a staff of researchers, writers and content providers for SalesFuel. Previously, she was co-owner of several small businesses in the health care services sector.