According to a latest survey by Citibank, many of the small businesses are not utilizing even the basic online tools which are readily available and which would help them grow their businesses despite of a lot of buzz around social media.
- Around 63 percent of the small business respondents expressed that word of mouth publicity is the best way to increase their business market. They also said that it helps them in finding new customers. Many of the small businesses do not consider marketing through social media as a word-of-mouth channel.
- The social media sites like Face book, LinkedIn and Twitter are not being used by 81 percent of the respondents.
- 37 percent of them are not using websites in order to expand their small businesses.
- Around 84 percent of the small businesses are not selling their products through online service.
- Almost 62 percent are not utilizing email for marketing their products.
- More than 47 percent of them perceive that these sites are not of any value for their businesses.
- 21 percent think that the social media sites are more for personal use than for business.
- 18 percent of them expressed that they do not know much about how the social media helps in expanding their business and how to utilize it to maximum.