American small businesses are pushing the limits on new ways to improve efficiency in the prolonged downturn, including a steady increase in social media adoption. The third wave of the Small Business Success Index™ (SBSI), sponsored by Network Solutions® and the Center for Excellence in Service at the University of Maryland’s Smith School of Business, reports social media adoption by small businesses has doubled from 12% to 24% in the last year.
The SBSI found that nearly one out of five small business owners are actively using social media in their business. Small businesses are increasingly investing in social media applications including blogs, Facebook® and LinkedIn® profiles.
Key social media usage highlights include:
- 75% surveyed have a company page on a social networking site
- 61% use social media for identifying and attracting new customers
- 57% have built a network through a site like LinkedIn®
- 45% expect social media to be profitable in the next twelve months
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