Millions of people turn to Twitter every day to learn about local/world news, events around their industry, and to participate in live conversations about topics that interest them. When it comes to whether or not you should spend time on Twitter, most SMBs don’t have time and wonder what the true value in it is for their bottom line. Well, Twitter recently partnered with research firm DB5 to poll 1,000 active Twitter users in the U.S. who currently follow small-medium sized businesses (SMB). According to the study, 57% of people surveyed discover a new SMB on Twitter. Of those, 67% decided to follow that SMB after discovery, 50% shopped at the SMB store or website, and 38% made a purchase. Not too shabby ROI on Twitter for your small biz.
Of the 57% who discovered a new SMB, this is how they discovered them:
When it came to engagement, (40%) of cited a reason for tweeting at a SMB (mentioning them) to tell them about a positive experience they had with their brand, (25%) said it was to ask them a question about a product/service, and (28%) said that it was to share a purchase. All great ways to expand word of mouth about your small business. And, nearly 2/3 have retweeted a tweet from a SMB. Talk about great amplification!
Engagement is one thing, but building that community and trust around your SMB is another. The study also cited 73% of people surveyed said that they feel better about a SMB after following and reading their tweets. So the takeaway here is tweet often, showcase your core values and be genuine. Plus, of the people surveyed, they follow an average of 21 SMB and 56% said they have never unfollowed a SMB. Takeaway: they’re loyal.
The study also asked about Twitter ads. As we all know, advertising is a great way to get in front of a potential customer, however, it can be costly. The study indicates that 2 out of 3 people noticed and then followed a small business after seeing an ad.
According to Twitter, of those who have seen an ad for a small business many respondents have engaged with: (48%) have clicked on the ad, email submission (25%) or purchased something (23%), which all has direct business impact. More on ads and insights in the study. For the full case study, click here.