What's Hot in Small Business – Chris Crum
Chris Crum writes for Small Business Resources about what's new for small business. Chris was a featured writer with the iEntry Network of B2B Publications where hundreds of publications linked to his articles including the Wall Street Journal, USA Today, LA Times and the New York Times.

Visual Objects Survey: Small Businesses Using Social Media Expect Revenue Growth This Year

Visual Objects Survey: Small Businesses Using Social Media Expect Revenue Growth This Year

Visual Objects, a firm that helps businesses find marketing agencies, recently released the results of a survey which found that most small businesses that use social media platforms expect their revenue to grow this year. Over half of U.S. small businesses polled (56 percent) engage in social media every week, and project revenue growth this year despite continuing COVID-related business limitations. Seventy-four percent engage weekly regardless of their revenue projections.

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Image via Visual Objects

The survey found that 81 percent of small businesses plan to invest in social media this year, which Visual Objects says emphasizes the importance of social media marketing. The most popular platform is, unsurprisingly, Facebook, with 78 percent using it. In second place is Instagram (also part of the Facebook ecosystem), with 52 percent using that. In third place is YouTube at 50 percent.

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Image via Visual Objects

YouTube’s share of the pie is likely to increase as more and more businesses recognize its potential. Visual Objects shared this comment from marketing specialist John Stevenson:

"YouTube is the new television. There’s a large stream of revenue with the platform, which makes it viable and sustainable should the pandemic hit back again."

Indeed, 48 percent of small businesses plan to use YouTube more this year, according to the survey’s findings.

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Image via Visual Objects

TikTok has become increasingly popular, especially among younger generations, but small businesses have largely shied away from using it for marketing purposes. Visual Objects chalks this up to TikTok’s younger demographic.

The report does not offer much commentary on Twitter or LinkedIn usage, but these should not be ignored as they can also be valuable ways to reach the right people. LinkedIn can be especially useful for B2B companies, not to mention as a recruitment tool.

Thirty-percent of small businesses consider engagement metrics, such as likes, comments, and shares, the most important measure of success on social media, despite their inability to directly inform on changes in revenue. As the report points out, businesses are using these metrics as indicators that their content is reaching the right audience, but it is wise to keep the focus on revenue, regardless of what the metrics suggest.

The survey also found that social media software use is rare among the small business community. Only about 31 percent reported using software, such as Hootsuite and others, to facilitate social media activity.

Social media has been an increasingly important aspect of small business marketing for years, but never has this been clearer than over the past year, as online presence often takes the place of physical presence in the midst of the pandemic. There’s no question that we can expect a growing number of businesses to continue increasing social media use and engagement.


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