The number of small businesses using deeply integrated social networking services will double in the next year, according to projections by Access Markets International (AMI) Partners, Inc. Currently, there are about 300,000 small businesses engaged in social networking, which is 5% of the total number of small businesses in the U.S. AMI expects that number to reach 600,000 in the next 12 months.
“As social networking evolves, we can see the emergence of targeted offerings for business users,” says Nikki Lamba, New York-based analyst at AMI Partners. “In order to attract a greater share of SBs, social networking services must provide customized services that SBs can leverage in order to realize their business goals.”
Social media might be an increasingly attractive option for small businesses in their advertising and marketing efforts. The current economy has businesses scrambling for affordable marketing methods and social media is a possible option, depending on how its leveraged.