Following the tradition, for the 3rd year in a row, Wasp Barcode releases their State of Small Businesses Report. Over 1,100 businesses owned or managed and headquartered in the US were surveyed in November 2016. The sampling method used was randomization (this means participants are randomly picked) across online channels and consisted of business owners and business managers of smaller companies and startups (5 to 10 employees), as well as larger small companies (up to 499 employees). Results have a 95% C.I. (confidence interval).
Digital Marketing Efforts of Small Businesses
According to findings, LinkedIn and Instagram are among the newly preferred social media channels for promotion. Twitter, Youtube, Pinterest and Facebook seem to have decreased compared to previous years, however, Facebook remains the most used social media platform for SMBs.
Social media, as a whole channel is still considered a reliable sale funnel to potential customers for 45% of small businesses. 33% of small businesses use social media to increase brand visibility through new likes and new fans, while 32% use it as a feedback hub. 37% reach their audience through designated business social media accounts.
In terms of outsourcing efforts, 54% of small businesses outsource web design (specifically website design) and graphic design, as well as their marketing, PR and advertising departments, which is good news for independent consultants, freelancers in marketing & design and startups looking to expand their services and portfolios.
The conclusion is that only 77% of small businesses believe in social media and use it as a way to promote, grow and stabilize their business model. Information on what are other challenges small businesses are facing in 2017 is available in the infographic below, as well as on the Wasp Barcode official blog post.