Over half (55%) of small business owners think that social networking sites have a place in the business world, according to a study by SurePayroll.
Research revealed that one in five small business owners had already obtained trade as a result of using social media sites including Facebook, MySpace and Twitter.
David Rohrer, SurePayroll’s online marketing manager, said that social networking has risen in popularity with small businesses, as the advertising is a cheap and effective way to connect with customers.
He added: “It is no longer just an outlet for personal use – it’s rapidly becoming a must for business success … What’s so great about the online world is you don’t need a million-dollar marketing budget.” according to a ClickThrough article.
The news that more small businesses “get” social media comes just as MySpace launches their new online marketing service called MyAds beta, which will allow small businesses to advertise on the site.
With MyAds, advertisers don’t pay for each impression delivered to a user. Instead, they pay when a person is interested enough to click through an ad—the model favored by advertisers. The platform could help small and medium-sized businesses, which have been facing a “massive barrier to entry” because they don’t have access to creative and media-buying agencies, said Jeff Berman, president of sales and marketing at MySpace, which is a unit of Fox Interactive Media.
“This allows the pizza store owner in Brooklyn or the quilt designer in Des Moines to run an ad campaign for as little as 25 bucks,” said Berman. “The key is it also runs on a performance basis, so you get what you pay for and given what’s going on out there, that’s a pretty critical distinction.”
MyAds users will be able to create advertisements, target specific audiences, determine a budget and monitor the progress of their program, according to the MySpace MyAds site.