In light of this, it may not be surprising news for small business owners that social network ad spending is predicted to increase in 2010. According to eMarketer, marketers spent $2.2 billion worldwide to advertise on social networks in 2009. In 2010, the source predicts that marketers will spend even more, primarily on maintaining a social network presence.
Still, a December survey from Citi’s Small Business Segment suggests that nearly three-quarters of SMBs have not found social network sites helpful in generating business.
PC World co-editor James Parr told IT Business Edge he believes the Citi survey results could indicate that SMB owners have unrealistic expectations about the initial impact of social media. He advises small businesses to devote time to developing a loyal, online following in order to see results.
Whether or not small businesses cash in on social media, the sites undeniably offer access to an enormous pool of potential consumers; Facebook has more than 350 million users to date.
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