What is the role of social media in the success of small businesses?

[Lokesh]

Do you think small businesses achieve better through use of social networking sites?

[mykah]

I think you have to go with the times, but, I also think you need to realize what type of business you have, and where you live.

For example, my wife is a midwife and we live in a pretty rural area. She has a website, but most of her clientèle comes from work of mouth.

Me on the other hand, I have my own online business. I have been studying social networking for awhile and have been applying some of those ideas to my business, not all, but the ones that seem like they'll help me.

So, consider what you do, where you live, and most importantly, how your clients and prospective clients find you and your products you're selling.

[Shamma]

Though there is a lot of uncertainty among the owners of small businesses regarding the impact of social media, around 36 percent of owners of small businesses accepted that social networking sites were likely to be visited by customers.

Though, majority of small business owners are unsure, but several big businesses are making huge investments in social media. Small businesses can compete with bigger brands through the use of social media and if small and medium businesses are not using social media, they are missing something important.

Social media used as a medium of communication with consumers by small businesses is found to be of significant benefits.

The reason behind a large number of small businesses (around 70 percent) using social media is due to the fact that it’s a free means to get engaged with your customers.