The results showed that under half (42%) are using social media, despite the fact nine out of ten (90%) believed that the power of such networks have the potential to increase business growth.
According to the report, companies recognised that reaching a wider audience (54%) and interacting with customers more easily (16%) were amongst the benefits of using sites such as Facebook and Twitter. They believed these to be sure ways of increasing profit, if they were to fully embrace this technology. However, a lack of confidence (23%), along with perceptions of it being a time consuming activity to manage (54%), have been exposed as key reasons why so many are failing to utilise this platform.
The participating SMEs were then given the chance to ask questions around the topic of social media upon completion of the survey. In response to this, Groupon have produced a mini-guide which provides tips and guidance around the basics needed to get started, as well as engagement and measurement. The document concludes with three case studies of well-known brands that have become success stories thanks to the way they have maximized their use of social media.