Manta released an online survey of 614 of its SMB users (who claimed their profiles). The survey was conducted in August and asked a number of questions about “online networking” (essentially the use of social networks) and associated perceptions of value.
Here are some of the questions and responses, and my commentary:
What is the most valuable benefit that you and your business gain from online networking activities?
- Being found by new customers — 35%
- Referrals — 21%
- Ability to target and engage with new prospects online — 14%
- Other information that helps you grow your business — 9%
- Connections with other business owners — 8%
- Ability to establish myself as an industry expert — 7%
- Business partnerships — 3%
Comment: SMBs always tend to value new business over other considerations. However customer retention/loyalty (arguably the true value of social networking) was not among the available responses here.
Over the past year, approximately what percentage of your customers found you through online or social media channels (website, Facebook, LinkedIn, Groupon, etc.)
- 100 percent — 5%
- 75 percent — 13%
- 50 percent — 18%
- 25 percent — 42%
- 0 percent — 22%
Comment: This response is based on perception and may thus be inaccurate. Because “website” is a choice, rather than purely “social media,” this result should really be seen as a response to “What percentage of your business is coming from the Internet?”
Does your business have a presence on Facebook?
- Yes, and I find it valuable — 42%
- Yes, but I don’t find it valuable — 30%
- I used to, but didn’t feel it was worth it — 5%
- No — 23%
Comment: 72% of these respondents said they had a presence on Facebook, though 41% of that group didn’t see any value in it. And roughly 58% of the total respondents to this question expressed what amounts to a negative attitude toward Facebook, either not seeing any value or not having a presence.
Which online/social channels are driving the most business for you? (top three requested)
- My company web site — 24%
- Facebook — 19%
- LinkedIn — 12%
- Google+ — 10%
- Manta — 9%
- Twitter — 5%
- Pinterest — 1%
- Groupon Less than — 1%
- My company mobile site/app — 2%
- Other online/mobile channel — 8%
Comment: Facebook was the most “effective” of the social networks in driving leads. However “my company website” trumped all other channels. The responses here may be highly unreliable because these SMBs may be overvaluing their websites as a lead source. They may also have an incorrect or incomplete perception of where leads are actually coming from.
These results cannot be seen as broadly representative of the total population of SMBs as a whole (there is no representative sample essentially). However they may be directionally representative in terms of attitudes and/or behavior. Manta puts a quite different spin on these results than I do.
What’s your take on these results? Anything particularly surprising or interesting? In my view the most interesting thing here is the generally negative attitude toward Facebook.
September 13th, 2012 at 4:47 pm
I’m really surprised that Yelp or CitySearch didn’t make it as a top answer to, “Which online/social channels are driving the most business for you?”
September 13th, 2012 at 4:50 pm
It probably wasn’t one of the available responses.
September 18th, 2012 at 1:17 am
The poor performance of Facebook’s stock price is having a significant impact on how their business is being viewed across the board. Now even SMB’s are starting to ask whether they should invest their marketing efforts into Facebook, when its obvious that advertisers around the world are starting to shun their platform.
September 18th, 2012 at 11:01 am
[...] they haven’t yet learned how to generate real value from their presence there, to the point where discouragement has set in. We in the local search industry know there is a knowledge gap to be overcome, but more than [...]
September 18th, 2012 at 9:37 pm
Not at all surprised since many discussions I’ve had with small business owners echo the same sentiment towards FB. I couldn’t agree with you more on the loyalty/retention. Would have liked to see other choices (such as mentioned by other commenters) provided.
September 18th, 2012 at 10:10 pm
Michael:
Have you seen a change? . . . previously they were very interested and now not so much?
September 25th, 2012 at 2:43 pm
[...] haven’t yet learned how to generate real value from their presence there, to the point where discouragement has set in. We in the local search industry know there is a knowledge gap to be overcome, but more than [...]
October 5th, 2012 at 8:16 pm
I recently attended a Social Media Marketing seminar which touted Facebook and very effective for visual product. Items that can be showcased with digital photos or interactive brochures. Services and restaurants may be better served by other platforms. Where do the Phone Apps come in? It seems like the growth of Smart Phones and Twittter might be a great place for small business clusters. Floating Cloud yellow pages? It seems like Facebook is such a cluttered environment that its hard to message for your small business.
October 7th, 2012 at 5:03 pm
Mark: The central problem with SMBs and Facebook is they typically don’t do a very good job of updating their news feeds or creating content. Yes, apps are great for SMBs: having their data in popular apps as well as creating their own in some cases (CRM). The question with first party apps is how to get them installed and how to generate engagement, which is a version of the Facebook content update problem.
February 1st, 2013 at 5:26 am
[...] Manta SMB survey published in September of last year also found that LinkedIn was highly ranked and second only to [...]
February 13th, 2013 at 4:28 pm
[...] Q3 2012 Manta survey found, on balance, a negative attitude among SMB respondents toward social media and Facebook [...]