06/07/2011
An increasing number of small and medium-sized enterprise (SME) owners are realising the growth potential of social media.
According to a recent study undertaken by Regus, cited by Freshbusinessthinking.com, some 42 per cent of SMEs have found new businesses via social media sites.
This is most likely because 31 per cent of SMEs are dedicating 20 per cent of their marketing budgets to social media activities. They are also helping themselves to improve the deals they already have with existing customers, using social media to "connect and engage with existing customers."
The news is positive, as it means SMEs are finding new and inventive ways in which to grow their businesses. Those SME owners inspired by the study, but who are worried about the costs involved in getting into social media, could turn to services such as factoring to free up some cash.
They'll then have the funds available to reinvest back into their company, helping them to grow their customer base further.
A spokesperson for Regus, regional director Celia Donne, gave her thoughts on social media within business. She said: "Social networking has finally come into its own...with the SME sector taking full advantage of their business contacts and commercial agility to surge ahead of the game when it comes to finding new customers.
"Small firms are more successful in converting networking practices into customer acquisition," she concluded on Regus.presscentre.com.
Deborah Bates