Over 90% of SMEs Believe in the Power of Social Media, But…

Lack of confidence and the perception that social media/social commerce is time consuming holds SMEs back

Groupon today revealed the findings of a survey conducted across 360 SMEs, to gather their views on social media. Questions ranged from how often businesses used social media, to what the main reasons were for companies not using it as much as they feel they should be.

The results showed that under half (42%) are using social media, despite the fact nine out of ten (90%) believed that the power of such networks have the potential to increase business growth.

According to the report, companies recognized that reaching a wider audience (54%) and interacting with customers more easily (16%) were amongst the benefits of using sites such as Facebook and Twitter. They believed these to be sure ways of increasing profit, if they were to fully embrace this technology. However, a lack of confidence (23%), along with perceptions of it being a time consuming activity to manage (54%), have been exposed as key reasons why so many are failing to utilize this platform.

The participating SMEs were then given the chance to ask questions around the topic of social media upon completion of the survey. In response to this, Groupon have produced a mini-guide which provides tips and guidance around the basics needed to get started, as well as engagement and measurement. The document concludes with three case studies of well-known brands that have become success stories thanks to the way they have maximized their use of social media.

For more information, please visit: http://www.grouponworks.co.uk/social where you can download a copy of the mini-guide.

About Groupon

Groupon, launched in November 2008 in Chicago, features a daily deal on the best stuff to do, eat, see and buy in 48 countries around the world. Groupon works with selected business partners to create a win-win proposition for businesses and consumers, delivering more than 1,000 daily deals globally. To subscribe for the best deals in your city, visit http://www.groupon.com. To learn how to become a featured business, visit http://www.grouponworks.com.