As a small enterprise getting your name out there is a constant struggle; all too often hindered by a lack of finances. With the recent recession, money for self marketing quickly dried up and this lack of resources has driven a number of small enterprises to invest their time in Social Media, with the hope of getting some brand recognition for very little money.
Many small businesses fail to realise the large investment of time required to get a return from a social marketing campaign, and this often results in campaigns with great potential falling flat.
This week’s Friday Fact Box looks at the opinions held by small enterprises who have adopted social media campaigns. For the most part some success was experienced by these companies.
From Small Biz Doubles Social Media Adoption (1 March 2010)
- Social Media use by small companies has increased to 24%, from 12% the year before.
- Nearly one half believe it will make them money in the next 12 months, and another 39% think they will break even on it. Just 9% think social marketing will continue to be a losing proposition.
- Overall, 58% of respondents felt that Social Media lived up to their expectations. One half felt it took up more time than they realised, but only 6% claimed negative comments that Social Media had hurt their business.
Image Credits: eMarketer.com
According to New Media Trend Watch, as the power of Social Media becomes more obvious among small enterprises; Social Media and networking will surpass email as the main form of communication for 20% of business by the year 2014.
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