Social media pays off for small, midsize businesses, study says

Small and medium enterprises (SMEs) that use social media are 56 percent more likely to increase their revenue, according to a recent report by research analysts at several organizations.

Around 28 percent of SMEs that were using social media promotions reported a revenue increase, compared to 18 percent of all businesses, according to the MYOB Business Monitor, released by the market research firm MYOB.

A recent report by Deloitte Access Economies, Connected Small Businesses, also recently found small businesses that actively use digital technologies such as social media and online marketing could see an average annual revenue increase of $350,000 a year. (See also "9 social media mistakes your business must avoid.")

Research found 20 percent of SMEs use social media for business purposes, with Gen Y the most prolific users (22 percent), followed by Gen X (22 percent), Baby Boomers (18 percent) and 65-plus (9 percent).

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Source: http://www.pcworld.com/article/2042730/social-media-pays-off-for-small-midsize-businesses-study-says.html#tk.rss_all

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