The joke is grim but makes its point. Two hunters are relaxing around the campfire before heading to their tents for the night. An angry grizzly bear charges out of the woods at them. One of hunters leaps up and immediately begins running away, still in his bare feet. The other takes a moment to step into his boots. The first one yells over his shoulder: “You’re wasting time! Don’t you know that even with those boots you can’t outrun a grizzly?” The other replies, as he begins making up lost ground: “I don’t have to outrun the grizzly. All I have to do is outrun you!”
In this same “whatever it takes” spirit, many small- and mid-sized businesses are strapping on a new pair of shoes. Their new shoes are social media, most notably Twitter. It’s a logical calculation for businesses that are newer and more agile. Or so it seems, from reading the results of this recent research by BIA/Kelsey. Here are a few highlights of the survey:
Social media by SMBs is more prevalent among younger businesses. The percentage of SMBs by age of business currently using Twitter for promotion is as follows:
- 16 percent of SMBs in business three years or less
- 11 percent of SMBs in business four to six years
- 6 percent of SMBs in business seven to 10 years
- 2 percent of SMBs in business 11-plus years
There is considerable thought and effort needed to use a channel like this properly, but for those that adopt this two-way communications channel effectively, it could help them outmaneuver more entrenched competitors.
It’s definitely making the competitive foot races more interesting.