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Midsize Companies Failing to Capitalize on Social Media

Midsize Companies Failing to Capitalize on Social Media

A number of those who hold executive jobs realize the need for their company to have a presence on social media websites. This provides a cost-effective means of advertising, opens the doors to a larger pool of potential customers and can allow for easier communications with other leaders in the industry. However, a recent report found the majority of mid-sized businesses are not taking advantage of the benefits of the platforms.

The recently released IBM Global Study of Midmarket Chief Executive Officers found many firms are not connecting with a large number of consumers. Only 15 percent of respondents indicated they use social media to speak to consumers. Many said they had more pressing corporate concerns - 71 percent are focusing on individual customer needs, while 64 percent are attempting to create a better environment for employees.

"On the surface, yes, 15 percent sounds really small. But if you think about what's required to establish an effective, brand-level social presence - and what a lot of mid-size businesses have as far as branding and marketing resources and expenses - it kind of is a little less surprising," IBM vice president for the mid-size business division, Ed Abrams, explained to InformationWeek.

By 2017, the survey showed, approximately 51 percent of CEOs predict they will be using social networking websites regularly.