SMBs Flock to Social Media: Small and medium-size businesses (SMBs) are buzzing over social media. A Borrell Associates study of 4,000 SMBs finds that local businesses expected to spend $1.1 billion in ads on social media platforms in 2011. That figure, says Borrell, should double in 2012. Other findings include:
Nearly two-thirds of SMBs report that in 2011 they had a social media presence—most notably on Facebook. Borrell expects that figure will jump to almost 80% before the end of 2012.
SMBs listed social media as the third-highest category in online spending in the coming year, at 13.7%; e-mail marketing (17.4%) and search engine marketing/keyword purchase (15.1%) are the top two spend categories.
Borrell forecasts that the next five years will see spending by SMBs on social site marketing increase sevenfold, to $7.8 billion in 2016.
Source: Borrell Associates Inc.
[Editor’s Note: For more about social media ads, read "When It Comes to Social Media, the Numbers Don’t Lie: The Ads Have It" from the 12/19/2011 issue of PR News.]