Recent survey suggests small business owners slow to embrace social media

c7gordon    July 18, 2011

Organisation Name:  Hiscox Insurance Company.

Industry: Insurance 

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Description of how social media is used for business performance:
According to the Wall Street Journal, in a recent study of small business owners, nearly 50% of them believe social media is not necessary to their business.  This recent survey came from Hiscox Insurance Company, a leading specialist insurer headquartered in Bermuda, who surveyed over 300 US companies.  For those that used social media, the most important were Facebook, LinkedIn, and Twitter, in that order.  Main reasons for using social media were increasing brand awareness, generating sales, and research purposes. 

Lessons for others:
While many small business owners don’t feel that social media is an important part of their business, a real competitive advantage could be gained by using Twitter, for example, as it can be a great marketing and lead generation tool.   

Submitted By: Cam Gordon, David Berg, David Dawkins

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