The third wave of results from the Small Business Success Index™ (SBSI) sponsored by Network Solutions and the Center for Excellence in Service at the University of Maryland’s Smith School of Business reports social media adoption by small businesses has doubled from 12% to 24% in the last year.
Nearly one out of five small business owners are actively using social media in their business, including blogs, Facebook and LinkedIn profiles. 61% of the respondents indicated that they use social media to identify and attract new customers. 75% of companies surveyed have a company page on a social networking site, and 45% expect social media to be profitable in the next twelve months.
Overall, social media investments rank third in small business investments to be made in the next two years.