May 24, 2013

SMEs Boosting Brand Awareness on Social Media

When was the last time you opened up the Yellow Pages to locate a plumber in your area or find the closest pizza parlor? It’s probably been awhile. Now, when was the last time you popped open the Google search page to search for a local hardware store or grocery: five minutes ago, an hour ago?

Large corporations like Nike and Johnson & Johnson have already taken social media by storm. The latest (but not last) to join the party are small to medium sized enterprises (SMEs). Say goodbye to directories and local newspaper ads and hello to social media.

According to a recent survey conducted by Groupon, small- to medium-sized businesses are ditching old-fashioned traditional marketing strategies—like digital print, radio, and print advertising—for social media in 2013. In fact, they are going as far as cutting spending on previous out-dated marketing practices. Specifically, 26 percent of participants plan to reduce advertising in local directories, while 24 percent will cut back spending on local advertising such as billboard and posters.  

Fifty-eight percent of SMEs have plans to expand their reach on social media with a focus on boosting brand awareness. After all, who’s reading the Yellow Pages during their lunch break anyway?

“Social media has changed the relationship between the consumer and brands. It’s more about interacting with the consumer, instant access and trust rather than just offering a service or product,” commented Adam Rock, managing director at social media marketing specialists, TAN Media.

 Other findings included:

  • 28 percent of SMEs want to improve e-commerce this year
  • 17 percent plan on supporting their social media channels better.
  • 24 percent want to engage with consumers more frequently
  • 28 percent believe targeting promotions via social media is important to retaining customers.

To find out more about the study, click here.

Edited by Carrie Schmelkin

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