Small business look to leverage social media, online marketing

3/13/2011

Although entrepreneurs have greater access to commercial loans, they are still looking to make the most of their budgets. When it comes to marketing, they are doing this by investing more funds into online channels and less into traditional print advertising, ClickZ reports.

According to data from research firm Borrell Associates, 84 percent of small businesses will invest in online market in 2011, with 53 percent looking to spend even more money on the advertising channel than in years past. However, this comes largely at the expense of traditional print advertising, which is expected to decline heavily.

"Social media is especially hot. Small businesses are ever more interested in Facebook, Twitter, location-based services and daily deals platforms that connect their virtual and real-world presences and facilitate word-of-mouth," notes ClickZ. "According to the research firm, 70 percent of SMBs currently spend on social media, and in some cases, social network pages have replaced company sites."

If small business owners are struggling to meet sales expectations, they should consider investing more into marketing. This will help generate product awareness among potential buyers, if campaigns are targeted correctly.