According to the Strait Times a survey of 100 small and medium enterprise businesses from 5 countries in Asia showed that 72% of the businesses use social media platforms like YouTube, Twitter and Facebook.
Facebook is in the lead among the social media platforms with 79% of the business users citing Facebook to be at least one of the platforms where they have an online presence.
One of the reasons for the enthusiasm of businesses to go online to market their products and services is the comparatively low cost of online marketing. Small to medium-sized businesses that can’t compete with big firms in more traditional advertising channels such as the television and full-blown media campaigns find that they are able to reach a lot of their target market via social media.
However, despite the rising numbers of businesses in Asia that have presence in social media platforms the actual conversion rate is remains problematic with only 12% of the surveyed firms getting more than 50% of the sales inquiries online.
This fact does not dampen the enthusiasm of the businesses though with 80% of the surveyed businesses signifying intention to increase their budgets for social media marketing in the near future.
One thing’s for sure though as Asia and the rest of the world gets even more wired we will see even more businesses jumping on the bandwagon.
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