Study: SMBs embracing social media marketing

Published on .

Most Popular
Williamsburg, Va.—Small and midsize businesses are turning to social media in large numbers, with expenditures expected to almost double this year, according to a new study by local market research and consulting company Borrell Associates. According to Borrell's “Main Street Goes Social,” social marketing expenditures by SMBs will hit $2 billion this year, up from $1.1 billion in 2011, then reach $3.9 billion in 2013. Local businesses said they expect to spend 13.7% of their online advertising budgets on social media this year, according to the report. Almost two-thirds (64.4%) of SMBs currently use social sites for marketing purposes, according to the Borrell report, based on an online survey that ran January through August 2011 that garnered 4,271 respondents.
In this article: