Three-quarters of “hypergrowth” small and medium-sized businesses (SMBs) in North America increased their budgetary spend on social media and social media advertising in 2013, reveals a new study from LinkedIn.
A hypergrowth business is one that experienced a significant increase in overall revenues year-on-year. Social media finished top in the poll amongst SMBs that had boosting their promotional spend, ahead of email marketing and events.
90 percent of respondents said that social media was most effective for branding their business, with content marketing and generating word-of-mouth also productive.
- 83% of Fortune 500 Companies Have Active Twitter Profiles [STUDY]
- 66% Concerned About Privacy on Facebook (23% Twitter, 35% Instagram) [STUDY]
- 99% of Social Media Posts Generate Almost no Engagement [STUDY]
- Just One Third of Marketers Say They Can Accurately Measure Social Media ROI [STUDY]