Small businesses adopt social media slower than larger competitors

Small businesses adopt social media slower than larger competitors

There are many different aspects that can make or break the success of a small business, and one new development is how well a company uses social media outlets.

Social media tools, such a LinkedIn, Facebook and Twitter, are still being “felt out” by smaller business, and these organizations have yet to fully utilize them in ways similar to their larger competitors.

According to a recent Vistage Small Business CEO Survey, LinkedIn is currently the most popular social media tool used by small business, at roughly 30 percent. In a distant second is Facebook with a 22 percent share, while Twitter holds the third-largest share at 14 percent.

The majority of small business owners cited LinkedIn as their favorable outlet, as it allows them to connect with other professionals in their fields. However, other sites such as Facebook and Twitter, allow companies to reach out and improve their visibility to clients.

Although taking advantage of social media outlets is a growing key to success in today’s business world, so to is owning a small business insurance policy. In the event of a sudden legal proceeding or other event that could lead to a loss a revenue, owning such a policy could be the difference between the doors staying open and shutting for good.