A mere 16% of UK businesses have Facebook or Twitter accounts, according to research.
Failing to engage with social media is costing small business dearly, according to Insurantz.com. With millions of people logging on to social networking sites daily, and such a small percentage of companies registered, many business owners are losing out on effective social marketing, believes the insurance provider.
There appears to be a generational gap where social networking is concerned. A quarter of business owners aged between 18 and 21 see social media accounts as essential to their business, compared to fewer then 10% of those over the age of 40.
In addition, more than half of companies cite a lack of understanding as their reason for not using social marketing. However, James Pickering, managing director of Insurantz.com, believes as online networking and e-commerce usage continues to grow, SMEs must change their digital marketing strategies to keep market share and prosper.
