Small businesses prosper online

According to small businesses that are hoping to expand their reach, online is the place to be when looking for more customers and a larger audience.

The Colorado Springs Business Journal recently reported that small businesses are putting increased emphasis on promoting themselves online and establishing a customer base, a recent Manta survey revealed.

The Manta survey showed 90 percent of the 614 responding small business owners reported that they dedicate a large percentage of their time to networking online. Seventy-four percent stated that they found networking online to be just as valuable as networking in person.

“Small businesses understand they need to go where their audience is,” said Pamela Springer, Manta CEO. “Participating, networking and being found online is extremely important today in growing their business, so it’s not surprising that they are embracing the channel.”

Close to 50 percent of small business owners said the most beneficial aspect of networking online is potentially growing a company's fan base and targeting prospective customers. Another 78 percent of participants reported that they gained at least a quarter of their new customers through online or social media networks during the past year.

More small business marketing plans are including Pinterest and Groupon, which are becoming more popular with consumers around the world. Although it might sound like a promising outlet to gain customers, the study proved that the two companies proved to be the least successful for companies looking to increase their brand, receiving a 1 percent and less than 1 percent response of being helpful, respectively.

Fifty-eight percent of small business said they have a difficult time trying to find value in using Facebook to promote their business.

If done correctly, social media marketing has been found to improve a company's marketing efforts and expand their reach. Considering there are more than a billion social media users across the world, small business owners should look into more promising techniques to utilize the social media sites.