This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Survey: Social Media Is a Must for Business

Stocks in this article: LNKD

NEW YORK ( TheStreet) -- A growing number of global firms agree social media presence brings in new business, resulting in higher revenue and profit.

According to a survey last week by Regus, a firm that provides workplace solutions such as meeting rooms and video communication studios, 47% of firms surveyed said they use the strategy to find new business, an increase of 7% from last year.

"As businesses emerge from the downturn, they are increasingly reconsidering pre-recession working practices and opting for more flexible, competitive strategies," says Sande Golgart, a regional vice president for Regus. "More and more companies are leveraging social media to increase the loyalty of existing customers and as a successful acquisition tool."

Businesses in China and India are leaders in using social media to attract customers, according to the report, published Wednesday. Approximately 65% of Chinese firms (vs. 44% last year) and 61% of Indian companies (vs. 52%) successfully use social media to acquire customers, the report says.

Businesses in the Netherlands and Mexico round out the top four countries most acclimated to social media for business purposes. Approximately 43% of U.S. firms (vs. 35% a year earlier) use social media to gain customers, the report says, implying there is much room for growth.

Half of the U.S. firms surveyed said they used sites such as Twitter to engage customers. More than half of those companies also encourage employees to join professional social media sites such as LinkedIn (LNKD).

In the U.S., 11% more companies that used social networks to acquire customers experienced a rise in revenue in the past year vs. those that didn't use social media, the report says.

The survey asked more than 17,000 senior managers and business owners globally about their use of business social networking.

Social networking, including Facebook, Twitter, LinkedIn, China's Renren and Orkut in Brazil and India, is a growing part of businesses marketing strategy. This year 34% of companies devoted a marketing budget to the strategy, compared with 27% last year. And more than a third plan to devote more of their marketing budget to social media.

Approximately 39% of respondents devote up to 20% of their marketing budget to social media, the report states.

Still, 34% of respondents still have no budget for social networking, the report found.

-- Written by Laurie Kulikowski in New York.


Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs