SMEs winning more new business through social media

Smaller companies are more effective than large brands when it comes to attracting business via social media, a new report has claimed.

Industry analysts Regus, said that 42% of SMEs win business directly using channels like Facebook and Twitter, as opposed to 35% of firms with 250+ employees.

Almost 10% more SMEs devote over 20% of their marketing budget to winning new customers through social media than their big business counterparts, the report said.

Interestingly, Regus also said that while 71% of big businesses believed that social media was an important facet of marketing strategy, 67% also believed that without more traditional forms of marketing, that strategy would be doomed to failure.

This approach does fit with a commonly held opinion that social media should only make up part of an overall marketing strategy, although this belief was less prevalent among small businesses, with 59% agreeing that traditional marketing techniques were vital.

Celia Donne, regional director at Regus said: “Social networking has finally come into its own in the commercial world, 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.

“More large firms may testify to the importance of social media in today’s business environment and actively devote marketing budget towards the channel, but the fact remains that smaller firms are more successful in converting networking practices into customer acquisition.”

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