Toronto (PRESS RELEASE – December 14, 2010) – SaleSpider announced the findings of a survey regarding how Small & Medium Sized Business (SMBs) plan to use social networking in 2011 and to what degree social networking has contributed to the growth of their businesses.
75% plan to make social networking a bigger part of their marketing mix in 2011 with two thirds of all respondents noting that social networking has driven sales.
Key findings include:
Social networking has become an essential “leadsourcing” vehicle. 63% believe that social networking sites are helping to drive sales and increase revenue. Of the 63% who believe that social networking is helping to drive sales and increase revenue, nearly 40% stated that this amount is “significant.”
Additionally, nearly half (49%) of the respondents noted that they were using social networking in multiple business development and sales capacities from identifying RFPs, to networking with prospects, to promoting products and services.
When asked, “what percentage of your marketing efforts — in terms of time or budget spent — will you put against social marketing in 2011?” the breakdown was as follows:
- 17% will spend 10% or less
- 31% will spend between 11 to 25%
- 34% will spend between 26 to 50%
- 14% will spend more than 50%
With two thirds of SMBs having experienced a boost in business from their social networking efforts, it’s not a surprise that a significant majority (75%) plans to put additional time and budget toward social networking. Moreover, 83% will devote at least 11% of their marketing resources against social networking practices.
“We conducted this survey to better gauge the impact that social networking has had on SMBs,” said Russell Rothstein, CEO of SaleSpider. “What seems apparent is that, for those companies that have made a commitment to using these services, the vast majority are seeing results.”
Sales Spider is the leader in small business social media, featuring online tools and marketing solutions for members to connect with an online community, and offering internet advertising solutions for companies to reach small businesses. With 730,000 members, SaleSpider is the world’s largest social media network for small to medium sized businesses.