Social media dominates SMB discovery, report finds

According to the latest report from VistaPrint and Wix, which surveyed 1,000 small businesses and 1,000 consumers across the U.S., social media platforms are the preferred channels for discovering local businesses, with more than two-thirds of consumers indicating their preference for learning about SMBs through social apps.

The report sheds light on key trends in the SMB landscape, revealing that businesses are increasingly investing in digital marketing, with social media emerging as a primary tactic. This aligns with consumer behavior, as social apps have become the go-to source for brand information, especially among younger demographics.

The data from the report underscores the significance of social media in connecting with consumers, particularly those under the age of 54. Social media platforms are not only crucial for brand discovery but also play a pivotal role in driving interest in local businesses, although they still lag behind peer recommendations in terms of influence.

A recent report from TikTok reveals that the short-form video app generated an impressive $14.7 billion for small- to midsize businesses (SMBs) last year, with an additional $24.2 billion in total economic activity driven by small businesses’ use of the platform.

In response to these trends, SMBs are adapting their marketing strategies, with many experimenting with new approaches to maximize their outreach. This willingness to innovate reflects the evolving landscape of digital marketing, where short-form video and other emerging trends are reshaping consumer engagement.

The report also highlights the top reasons why consumers choose SMBs over big brands, emphasizing product quality, craftsmanship, and the benefit to the local community. These factors present opportunities for SMBs to differentiate themselves and attract more customers by tapping into these values.

While the sample size of the report may be relatively small, it provides valuable insights into emerging trends and reaffirms the importance of social media for SMBs. By leveraging social media platforms effectively and aligning their marketing efforts with consumer preferences, SMBs can enhance their visibility, attract new customers, and drive business growth in the digital age.

As per a recent report by eMarketer, US marketers are expected to invest $8.14 billion in social media sponsored content this year, reflecting a substantial 16.0% increase compared to the previous year.