Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Social Media: Friend or Foe?

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Social Media: Friend or Foe?

Article excerpt

Recent studies are divided on whether social media can help a small business sell more goods and services.

One study, by researchers at three universities, found that customers who interact with a business via social media spend more on goods and services than those who don't. The study estimates that "social media" customers contribute 5.6 percent more in revenue and visit the business about 5 percent more than other customers.

Another study singles out Facebook as a social media goldmine for small companies. Syncapse found a Facebook friend is worth $174.17 to a business, up 28 percent since 2010. Facebook fans not only spend more money on the brands they fan, they are also 18 percent more satisfied with these products and services than nonfriends.

But in another recent study, Manta, a social network for small businesses, found that 61 percent of the small businesses surveyed don't believe they get any return for investment in social media. Survey respondents cited Facebook as the hardest social media site on which to maintain a presence. …

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