SOCIAL MEDIA KEY TO REVENUE RISE

Written on the 20 June 2013

SOCIAL MEDIA KEY TO REVENUE RISE

SMALL and medium business operators (SMEs) embracing social media were more likely to see revenue rise rather than fall in the 12 months to February 2013, according to research by MYOB.

The latest MYOB Business Monitor revealed SMEs were 56 per cent more likely to see a revenue rise by using social media, with 28 per cent reporting a rise in revenue and 18 per cent reporting a fall. This compared to the national average of all businesses with only 18 per cent reporting a rise and 39 per cent reporting a fall.

MYOB CEO Tim Reed (pictured) says business owners that embrace the additional hat of social media manager are reaping the rewards.

“The financial benefits are clear,” says Reed.

“Many of these social tools, like Facebook or a blog, don’t need an investment of money to raise a business’s profile, communicate with its target audiences and generate leads; although they do require time.”

He says despite this, only one fifth use social channels comparing to nearly half of all businesses owners using smartphones, and over one quarter using tablets.

“Our research suggests it’s due to a lack of confidence in knowing how to employ social and other online tools that is holding others back.”

More than half of respondents say they would vote for the political party that proposed providing free government-funded training to all small businesses on how to use the internet to enhance and grow their business.


Latest News

TECHNOLOGYONE SAYS IT WILL SUE BRISBANE CITY COUNCIL FOR $50M IF IT TERMINATES CONTRACT

ENTERPRISE software company TechnologyOne (ASX: TNE) has threatened to sue Brisbane City Council (BCC) for more than ...

WESTPAC LOOKING TO SELL HASTINGS TO CHARTER HALL

Westpac Group (ASX: WBC) has entered discussions with property investment group Charter Hall (ASX: CHC) to sell Ha...

THE CYBER SECURITY FIRM THAT HAS MELBOURNE AND SYDNEY BATTLING FOR ITS BUSINESS

ISRAELI cyber security firm Votiro will decide where to set up shop in Australia in the next few weeks, with both ...

IF YOU LOSE YOUR MOJO, YOU LOSE YOUR BUSINESS: GLEN RICHARDS

HE'S one of the "sharks" on the hit show Shark Tank and Dr Glen Richards deals with startups and sca...

Related News

TECHNOLOGYONE SAYS IT WILL SUE BRISBANE CITY COUNCIL FOR $50M IF IT TERMINATES CONTRACT

ENTERPRISE software company TechnologyOne (ASX: TNE) has threatened to sue Brisbane City Council (BCC) for more than ...

WESTPAC LOOKING TO SELL HASTINGS TO CHARTER HALL

Westpac Group (ASX: WBC) has entered discussions with property investment group Charter Hall (ASX: CHC) to sell Ha...

THE CYBER SECURITY FIRM THAT HAS MELBOURNE AND SYDNEY BATTLING FOR ITS BUSINESS

ISRAELI cyber security firm Votiro will decide where to set up shop in Australia in the next few weeks, with both ...

IF YOU LOSE YOUR MOJO, YOU LOSE YOUR BUSINESS: GLEN RICHARDS

HE'S one of the "sharks" on the hit show Shark Tank and Dr Glen Richards deals with startups and sca...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter