59 percent of Small Businesses Say Social Media an Asset to Business
The majority of small businesses (52 percent) believe having a social media presence is important for companies, according to the Small Business Opinion Poll commissioned by Reno, Nevada-based EMPLOYERS. The national poll also reveals that although there are nearly five million small businesses leveraging social media, that figure only accounts for 16 percent of the 29.7 million small businesses in the United States based on figures from the Small Business Administration.
EMPLOYERS' small business poll indicates that a relatively low percentage of small businesses are effectively tapping these opportunities. The total still represents a significant critical mass of small businesses at 4.75 million.
Small Business Opinion Poll Snapshot:
- 52 percent believe having a social media presence is important for a company
- 59 percent of small businesses with social media presence say it has provided value to their business
- 16 percent of all polled have a business account (representing 4,752,000 based on SBA data)
- 49 percent say that their social media presence has produced advocates for their business
- 65 percent with a social media presence say they actively use it to promote their businesses
EMPLOYERS' poll also discovered that about 7.7 million small businesses, or 26, percent say they are likely to use social media channels to find information on workers' compensation insurance. And while the percentage figure is relatively low today, 7.7 million small businesses represent a significant business opportunity for insurance providers to engage small businesses on social media platforms. It also illustrates that even though the majority of small businesses believe that having a social media presence is important, many are unaware of the valuable information available to them via social media channels as it relates to business insurance and other subjects relevant to running efficient, successful businesses.
Eight important tips to consider when using social media channels:
1. Be a Good Listener: Once you sift through the social media noise and find the kinds of people with whom you wish to engage, take the time to hear what's being said before jumping in.
2. Think of Social Media as a Conversation Rather than a Marketing Vehicle: In many respects, social media is like a giant room with millions of people in it, talking about thousands of subjects. Your task is to locate the part of the conversation that matters to you and find a way to participate. And, just like a conversation in the real world, if you bully your way in and try to dominate, people will just turn away.
3. Consider your Objectives: Whether you want to improve awareness of your brand, listen for customer comments about your business, or track what your competitors are up to, it's important to establish your objectives and focus on them. Social Media can be incredibly time consuming if you approach it randomly.
4. Join the Conversation: You may as well participate, the conversation goes on whether you choose to take part or not. By participating, you get to tell your part of the story.
5. Inform Rather than "Me-form": When you encounter a post, or series of posts, that you can add value to, do it. But you will do well to think in terms of contributing to the conversation rather than making a blunt sales pitch.
6. Understand your Target Audiences: Knowing the needs and engagement-style of the people you want to connect with will give you a much better chance of having a positive experience with the conversations you join.
7. Practice Makes Perfect: Refining your social media efforts by testing different ways to improve your engagement with agents and small business owners is a smart approach. Social media is definitely not a one-size-fits-all environment. Find what works best for you.
8. Work Smart: By using free tools like HootSuite and Google Alerts, you can set up a fairly sophisticated Internet listening program at virtually no cost.
About the Small Business Opinion Poll
The survey commissioned by EMPLOYERS sampled 500 owners or managers of small businesses with 1-99 employees. Data was collected through telephone interviews during the period November 6 – 17, 2009 at the 95 percent confidence level. The sample is stratified across business size and industry grouping, including manufacturing/construction, transportation/ communication, wholesale/retail, financial services, or personal/professional services businesses. The survey was conducted by Opinion Research Corporation.
About Employers Holdings Inc.
Employers Holdings Inc. is a holding company with subsidiaries that are specialty providers of workers' compensation insurance and services focused on select small businesses engaged in low-to-medium hazard industries. The company, through its subsidiaries, operates throughout the United States. Insurance is offered by Employers Insurance Company of Nevada, Employers Compensation Insurance Company, Employers Preferred Insurance Company, and Employers Assurance Company, all rated A- (Excellent) by A.M. Best Company. Additional information can be found at:
For more information on Employers Holdings Inc., visit www.employers.com.