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Small and medium-sized businesses (SMBs) have said it before: Social works, and as a result, they’re increasing marketing spending and time invested in the tactic. Based on a July 2014 study by BIA/Kelsey, Facebook is benefiting from both.
Despite impressive usage for platforms such as LinkedIn, Pinterest, Instagram and Twitter’s Promoted Tweets, Facebook ruled the social space, with 55.1% of SMBs saying they had a page on the social network specifically for their business. Though this only included unpaid pages, BIA/Kelsey found that 20% of respondents had used a Facebook ad or Promoted Post—one place they were funneling social money to. Though one-fifth may seem like a small percentage, with SMBs reporting high usage and great success, that share will likely increase in the coming years.
So, what are SMBs doing as part of their increased social media efforts? According to a July 2014 study by Gallup and Wells Fargo, connecting with consumers was the top way US small-business owners used social networks for business purposes. Marketing or promoting businesses and products as well as building an online reputation were also popular activities, each cited by 72%. Advertising trailed close behind, with nearly 70% of respondents saying this was a use case for social media.
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