Social media a growing tool for most SMEs: Infographic » SMEInsider

Social media a growing tool for most SMEs: Infographic

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Social media is increasingly important to SME retailers, a new survey has found. The study, commissioned by financial software vendor SAP, revealed that SME retailers were active on social channels, with “all respondents using at least one social channel. Significantly nearly a third (29%) are using more than three forms of social media.”

EJ Jackson, SVP & GM of SAP Anywhere, commented “Every customer we engage with has an interest in social media. At the Internet Retailing Show in April, the vast majority were keen to learn more about how they too could leverage social media to reach new customers in the UK and further afield. SAP Anywhere enables retailers to manage and drive their social media, to understand and interact with customers, post simultaneous news, then gain instant tracking and feedback, making social interactions simple and very beneficial to their business. The number using social media will grow exponentially as social selling becomes a critical business opportunity for retailers.”

Other highlights from the survey included:

  • Over three quarters of respondents (79%) stated technology is helping their business overcome ongoing business challenges
  • Four out of 10 highlighted that reaching new customers was the most important area technology was assisting their business in reaching their future goals
  • Whilst three out of 10 said investment in technology was fundamental to developing new sales and e-commerce
  • Better customer experience was also cited as a critical role of digital technology for SMEs (13%)

However, despite the opportunities offered to small businesses by technology, there remain some significant barriers:

Cost was still a drawback for digital investment and growth (23%)

  • Businesses were concerned technology would take the time taken away from running their company, with over a fifth (21%) of respondents citing this as a hurdle;
  • Security was also a key concern, with almost a fifth (17%) noting this as an issue