SME’s uncertain about value of social media

Posted on Tuesday, November 22nd, 2011 by

A few months ago we focussed a newsletter on the use of social media in business. Well, now a survey of SMEs by the social media marketing firm iContact suggests that small business leaders are in two minds about its value to them. There is a belief that it requires huge amounts of time and commitment to keep up with its demands. While larger companies with annual revenue in excess of $160m value Twitter, the vast majority of smaller firms claim to hate the site. Facebook seems less threatening with over 75% approving of it, although the not-for-profit and education sectors beg to differ – over 80% of respondents in this category say they dislike it. Commenting on the findings, Ryan Allis, chief executive of iContact, said: ‘Small business owners are a great barometer for these social products and platforms, because when something helps them hire, sell, or otherwise proves valuable, they’re passionate proponents. But when they are strapped for money and time, they’re quick to say if something is not worth the investment of either.’