According to our recent survey on Small and Medium-Sized Businesses (SMBs), nearly 33% are planning to increase their budgets in Social Media over the next 12 months. This represents a great opportunity for Industry Providers to capitalize on a growing trend. In fact, social media is viewed as one of the most effective marketing methods used to promote their businesses. This is especially the case in the Healthcare, Lifestyle and Automotive segments as they ranked social media in the top three of most effective marketing methods used. (See below for descriptions of segments).
|Thrive Analytics- SMB Segments|
While the other segments did not rank social media as the most effective method used, they all stated it was a top area they need help in and they all plan to increase their investment in it over the next 12 months. The average increase varies by segment with Healthcare and Knowledge Services leading the way at 20%-25% (Figure 2).