6 in 10 SMBs Are Using Social Media Marketing to Increase Customer Engagement and Traffic

October 18, 2022

Small and medium-sized businesses (SMBs) in the US are generally optimistic about their prospects for next year, according to the third annual State of Small Business report [pdf] commissioned by Verizon Business and conducted by Morning Consult. Though a rising number are experiencing increased costs, fewer are having to deal with declining sales and other financial issues than in previous years.

The coronavirus pandemic brought about some changes for SMB owners and decision-makers. About 6 in 10 (61%) agree that their business has used digital tools and technologies over the past 2 years to change their processes and customer experience, while a similar share (56%) agree that their business has leveraged digital tools and technologies to create new opportunities to make money over the past 2 years.

One digital tool being used is social media marketing: 59% report currently or already having used social media marketing to increase customer engagement and online traffic, while another 19% say their business hasn’t yet done so but is considering doing so.

With social commerce on the rise, one-third (33%) of SMBs are using or have used social media “storefronts” or “shops” to allow consumers to buy products or services directly via social platforms, and a further fifth (21%) are considering doing so.

Facebook continues to be the most popular social platform among SMBs, followed by Instagram and LinkedIn. Though TikTok proves engaging to its users, SMBs have yet to make as much use of it as other, more established platforms.

Meanwhile, some SMBs are implementing new digital marketing technologies to better target the right audiences, per the report. Among businesses that added to their tech stacks in the past year, better connecting with existing audiences was a key motivation. As a recent study has found, there’s plenty of room for growth in SMBs’ use of CRMs, particularly among the smallest businesses.

For more, check out the full study results here.

About the Data: The results are based on an August survey of 609 owners and decision-makers at small to midsize businesses (1-500 employees) in one of the following industries: Construction & Contracting; Entertainment & Recreation; Food & Beverage; Hospitality & Accommodation; Retail; or Restaurant & Bar.

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