On Friday, Citibank released a survey on small businesses and social media, with findings very much in line with PRWeek's recent Social Media Survey. Out of 500 small business executives surveyed by Citibank, 76% said they have not found social networking sites such as Facebook, Twitter, and LinkedIn helpful when it comes to expanding business. However, 42% of small business owners and managers said they have been using the company Web site to generate more business leads.
“Our survey suggests that small business owners are still feeling their way into social media, particularly when it comes to using these tools to grow their businesses,” said Maria Veltre, EVP of Citi's Small Business Segment, in a statement. “While social media can provide additional channels to network and help grow a business, many small businesses may not have the manpower or the time required take advantage of them.”
Eighty-six percent of respondents said they have not used social networking sites to get business advice or information, and 61% rely on search engines like Google and Yahoo to get business advice or information.
The recent PRWeek survey also found that companies are not using social media as much as expected, with 37% reporting that they do not use social media tools at all when it comes to marketing.