MerchantCircle, an online network of US local business owners, revealed in its quarterly reports that more local businesses are turning to Facebook and other social networking sites like Twitter, as a low-cost option for their marketing efforts.
The survey, conducted with 8,500 random small and local business owners across the U.S, revealed that 70% of these business owners are actively marketing their business through Facebook. This represents a 20% increase over 2010.
Most small businesses running on limited budgets (less than $2,500 annually) and 60% of survey respondents do no plan to raise their budget this year. This makes Facebook an attractive and cost-effective marketing tool for most local business owners. (more…)