The survey of 210 SMBs found that 88% of SMBs use the social media network to advertise. Instagram ranked second at 52%, followed by LinkedIn (35%), Twitter (26%), Yelp (15%), Pinterest (11%), TikTok (5%), Snapchat (3%), and Reddit (2%).
Over half (60%) of SMBs referred to social media marketing as a “necessary evil”, putting a less positive spin on the results.
However, 47% admitted it was the best way to reach customers and 45% said the metrics provided by social channels were simple enough for them to understand and measure their campaigns with.
What’s more, some 40% of businesses said they posted more often during the COVID-19 pandemic and 24% had used live video tools.
Another 20% even increased their social media spend while 55% cut budgets on channels including newspapers and radio.
The study also revealed that social media is a vital marketing channel for smaller businesses underlined by the fact that two-thirds are not deterred from using it following a negative story.
Given that almost half of them also described social media as the best place to reach customers, social channels and social media apps are likely to continue to see growth of their ad spend.