Only one-third (35%) of small business owners cite social media as a beneficial tactic for their business, though views about the usefulness of social marketing vary by industry, according to a survey from Hiscox.
Among surveyed small business owners, tactics such as word-of-mouth referrals (79%) and advertising (44%) rank ahead of social media in overall business benefit:
In addition, fully 40% of small business owners say their website is beneficial for marketing, 32% cite opportunities with business partners, and 21% cite SEO, the study found.
Below, additional findings from Hiscox.
Views about the benefits of social media vary by industry: Small business in the IT (information technology) and media services industry (42%) are more likely than those in business services (31%) or auto repair (18%), for example, to find social media beneficial to their business.
Even so, among all small businesses surveyed, nearly one in four (23%) would like to use social media for business, say they don't have the time (7%) or need to learn more about it (16%).