none

More SMEs like social media

31-08-2010
by 
in 
More SMEs like social media

 

A whopping 78 percent of small businesses in Australia are planning to spend more time on social media in the coming 12 months, according to a recent small business survey.

Of those businesses surveyed, as many as 65 percent report that social media has helped their business grow over the past 12 months. 

Almost half are using social media to raise brand awareness and source new customers, while 40 percent are using it to generate new sales.

And 44 percent use social media to provide networking opportunities, which effectively contributes to business growth.  

The survey, conducted by Bibby Financial Services Australia, found that social media is increasingly being used as an extra communication channel to raise small business’ profiles and reach new and existing clients.

“A third of the businesses surveyed said that social media has helped them improve customer service and stay ahead of competition and as many as 22 per cent have used social media to recruit new staff,” said Gary Green, Bibby’s National Sales Director.

According to the Yellow Pages Social Media Report, June 2012, 83 percent of Australian small business are using Facebook, 27 percent Twitter, 20 percent are on LinkedIn and about 12 percent are using Google Plus or YouTube.

Overall, on average businesses are spending over $3000 a year on their social media presence.

The Bibby Barometer found that the current business climate has encouraged 38 percent of business decision makers to want to take more risks in the coming 12 months. In contrast, only 24 percent are taking fewer risks. 

“With optimism on the rise and confidence in sales growth at levels not seen since July 2011, it is not surprising that businesses are using social media to generate new business and raise their profile. We believe small businesses are more willing to think outside the box in terms of promoting themselves and embark on new marketing strategies,” Mr Green said

Of the businesses survey, those most likely to use social media are young entrepreneurs aged between 18-39 years (66 percent) compared to older entrepreneurs aged 40-64 years (39 percent).

The survey found that Generation X are highly regarded as efficient workers and the most innovative contributors, and that Baby Boomers are considered to be the most customer service orientated but the most likely to be sceptical of digital media.

Generation Y are viewed less positively. Only 10 percent consider them to be the most efficient workers, 12 percent as good managers and 15 percent as the most customer service oriented. While 18 percent rate Gen Y the most innovative contributors, even on this measure they still trail Baby Boomers (24 percent) and Gen X (36 percent). 

The Bibby Barometer is conducted bi-annually, surveying over 200 small business (non-retail) having between five and 19 employees.

www.bibby.com.au

Related news & editorials

  1. 18.10.2018
    18.10.2018
    by      In
    Amidst global concern about plastic waste in the world’s oceans, it is rather ironic that it is a soft drinks company that is actually doing something about the problem. SodaStream International, which has always taken a different approach to the soft drinks market, is now taking a different... Read More
  2. 16.10.2018
    16.10.2018
    by      In
    The Government has unveiled a $5 million scheme to encourage high-quality graduate engineers to work in Australia’s automotive sector. The Automotive Engineering Graduate Programme aims to increase the level of advanced engineering skills in the sector and is part of the $100 million Advanced... Read More
  3. 15.10.2018
    15.10.2018
    by      In
    Industry Update is delighted to announce that we are expanding our video offerings with a new series of tutorial style videos that perfectly complement our existing library of news style videos.
    In the first series, we are partnering with sensor specialist VEGA to publish eight playlists of videos... Read More
  4. 15.10.2018
    15.10.2018
    by      In
    Kennards Hire is certainly “doing its bit” to help Australia’s drought stricken farmers and their families. The work began with the Kennards branch network throwing itself behind the Buy a Bale initiative, and is now continuing with a key role in the Mega Farm Rescue.
    Kennards Hire team members... Read More