A recent GetApp survey looking at how SMEs were utilising social media, and the challenges of using such platforms, reveals that 39 per cent of SMEs in Australia have cited the biggest drawback in using social media is companies resorting to copy their ideas.
In addition, 37 per cent cited as a drawback the amount of time spent creating regular posts and creating new, original, and creative content.
The research also found that the most common reason SMEs use social media to attract customers, as cited by 60 per cent. This is followed by 54 per cent who cited creating brand awareness. 53 per cent also said they use social media for selling products and services and 52 per cent use it to reach their target audience customers.
However, it also showed that the expense of implementing a proper social media strategy was the least frequently cited drawback of social media as cited by 28 per cent.
25 per cent of SMEs estimated that between 21 per cent and 30 per cent of their marketing budget is allocated to social media, and a further 34 per cent said their company spent upwards of this amount. Although only 41 per cent follow an established social media plan, 48 per cent still need to develop a strategy.
Regarding content, 58 per cent said they mainly share new collections and product launches with their customers, along with 54 per cent who said they share discounts or promotions. 56 per cent still post image-led or static content to do this, while 50 per cent share short-format videos such as Instagram reels or TikTok videos.
The study found that an overwhelming 94 per cent agreed that social media has positively impacted their business’ success, and half said it is essential to maintain their business. 42 per cent said it was necessary but not essential, and only 8 per cent said it was not crucial for their company.
When it comes to social media platforms, 82 per cent said that the two most popular platforms for businesses are Facebook, used by 70 per cent, and Instagram, used by 52 per cent. While both networks have the most users among respondents, 39 per cent of those who use Facebook and Instagram use them to post organic content. In contrast, 27 per cent use Pinterest only for organic posts, compared to 40 per cent who invest purely in paid ads on that platform. Meanwhile, 57 per cent use TikTok for both organic and paid advertising.
Andrew Blair, Content Analyst at GetApp Australia, commented, “Social media can be demanding, dynamic, and resource-dependent for many SMEs. To commit to a social media strategy, SMEs must evaluate and prioritise their resources according to business goals and track key performance indicators.”
