Small Businesses Seek Customer Engagement on Social Media
January 12, 2012 | Contributed by: Stephanie Hobbs
According to a new report by Borrell Associates, small businesses are quickly adjusting their online advertising spends to invest in social media.
The report found that local businesses expect to spend nearly 14% of their online advertising budgets on social media in the coming year. Borrell Associates anticipates that small businesses will spend $2 billion on social media in 2012, and double their investments to $3.9 billion in 2013.
Although approximately two-thirds of small businesses have already established a strong social media presence, the number of small businesses adopting social media will continue to climb in 2012. According to more than 4,000 small businesses surveyed, social media is the third-highest category in online spending in the coming year – ahead of banner ads, streaming video ads, and mobile advertising.
In 2012, numerous businesses will funnel cash into bolstering their social media engagement. When done right, these efforts can enable better customer service, build greater customer loyalty, and drive sales.
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