Survey: Social media pays off

August 12, 2011
Back to TopCommentsE-mailPrintBookmark and Share

If there’s one thing most small-business owners don’t have in abundance, it’s time. But investing more of that precious resource in social media appears to be worth the effort—if it’s done right.

More than two-thirds of the 243 entrepreneurs who responded to a recent survey from Carmel-based marketing firm Roundpeg said they get sales leads from Facebook, Twitter and Linked In.

The problem? “Most businesses don’t know how to turn those leads into sales,” said Roundpeg owner Lorraine Ball, who shared her conclusions Aug. 11 at the annual Blog Indiana conference in Fishers.

Indeed, 45 percent of business owners said they get less than 5 percent of sales from social media. Ball said potential customers who make their way to a company’s website often give up if they don’t find an obvious call to action—which could be something as simple as a newsletter signup form.

Of those firms that are able to convert more fans into customers, most report spending at least 30 minutes a day on social media. Ball, whose firm offers social media services, said she recommends clients devote an hour or more each day to executing their social media strategy.

“The payoff is there,” she said.

But at what cost? That is more difficult to measure, but one thing is certain: It’s not free.

“The tools are free,” Ball said, referring to the social media platforms. But time is money, and most small-business owners said they are personally involved in carrying out their social media plan.

That’s a big shift from last year, when Roundpeg conducted a similar study. Then, interns played a significant role in producing social media content, Ball said.

“That’s good news,” she said, because it shows that small-business owners understand that social media is too important to trust to the employees with the least knowledge of the company.
 
What do you think? What kind of return-on-investment are you seeing from social media?

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT
  1. These liberals are out of control. They want to drive our economy into the ground and double and triple our electric bills. Sierra Club, stay out of Indy!

  2. These activist liberal judges have gotten out of control. Thankfully we have a sensible supreme court that overturns their absurd rulings!

  3. Maybe they shouldn't be throwing money at the IRL or whatever they call it now. Probably should save that money for actual operations.

  4. For you central Indiana folks that don't know what a good pizza is, Aurelio's will take care of that. There are some good pizza places in central Indiana but nothing like this!!!

  5. I am troubled with this whole string of comments as I am not sure anyone pointed out that many of the "high paying" positions have been eliminated identified by asterisks as of fiscal year 2012. That indicates to me that the hospitals are making responsible yet difficult decisions and eliminating heavy paying positions. To make this more problematic, we have created a society of "entitlement" where individuals believe they should receive free services at no cost to them. I have yet to get a house repair done at no cost nor have I taken my car that is out of warranty for repair for free repair expecting the government to pay for it even though it is the second largest investment one makes in their life besides purchasing a home. Yet, we continue to hear verbal and aggressive abuse from the consumer who expects free services and have to reward them as a result of HCAHPS surveys which we have no influence over as it is 3rd party required by CMS. Peel the onion and get to the root of the problem...you will find that society has created the problem and our current political landscape and not the people who were fortunate to lead healthcare in the right direction before becoming distorted. As a side note, I had a friend sit in an ED in Canada for nearly two days prior to being evaluated and then finally...3 months later got a CT of the head. You pay for what you get...

ADVERTISEMENT