Small Business Not Into Social Networks For Leads

According to a new Citibank / GfK Roper survey of 500 small business executives across the United States, 76% have not found social networking sites such as Facebook, Twitter and LinkedIn to be helpful in generating business leads or for expanding their business during the last year, while 86% say they have not used social networking sites to get business advice or information.

The survey found that general search engine sites such as Google and Yahoo! trump small business-focused sites and the WSJ.com as destinations for small business owners to seek business advice or information. 61% of respondents say they rely on these search engine sites.

Maria Veltre, Executive Vice President of Citi's Small Business Segment, concludes "... small business owners are still feeling their way into social media... many... may not have the manpower or the time required take advantage of them."

Additional responses found that 42% of small business owners and managers reported that in the past year they have made greater use of their company's website to generate business leads and sales. Among companies with 20 to 99 employees the percentage rises, with 57% saying they have made greater use of their website. 28% of survey respondents are also using email marketing and 25% are using online advertising to generate business leads and sales.

More information from Citibank may be found here.

Source: Center for Media Research Monday, November 02, 2009 Research Brief