Most Small Businesses That Actively Use Social Media Project Revenue Growth in 2021
Monday, February 22nd, 2021
More than half (56%) of small businesses in the U.S. engage on social media at least weekly and project revenue growth in 2021 despite continuing COVID-related business limitations, according to a new survey report from Visual Objects.
Lockdowns and brick-and-mortar closures emphasized the importance of offering digital marketing and buying experiences to continue growing revenue.
Facebook Is Most Popular, TikTok Hasn't Caught On With Small Businesses
Almost all small businesses (78%) market their company on Facebook, making it the most popular social media platform among small businesses.
Companies hoping to reach a wide variety of consumers rely on Facebook because it continues to have the highest volume of active users.
TikTok, on the other hand, is rarely used by small businesses (14%) for marketing purposes despite its rapidly-growing user base.
"TikTok can be a gold mine for the right business," Barendsen said. "It's incredibly easy to get a huge reach because it's so popular."
However, Barendsen warns that TikTok's younger user base may yield fewer conversions than its more established counterparts.
YouTube Gains Popularity With Small Businesses In 2021
The survey found that about half of small businesses (48%) plan to focus more on YouTube this year than they have in the past.
The video-sharing platform is experiencing rapid growth with Generation X and Baby Boomer users. Members of these generations often have more disposable income and are less active on social media than younger people, making opportunities to reach them attractive.
John Stevenson, a marketing specialist at My Gre Exam Preparation, agrees that people across all demographics use YouTube, making it a reliable platform for investment.
"YouTube is the new television," Stevenson said. "There's a large stream of revenue with the platform, which makes it viable and sustainable should the pandemic hit back again."
Visual Objects surveyed 500 small business owners and managers in the U.S. to gain insights into how companies are managing social media marketing strategies in 2021.
Read the full report: http://visualobjects.com/digital-marketing/social-media-topics
For questions about the survey, contact Sydney Wess at firstname.lastname@example.org.