Social media in India is growing at 100 per cent and by 2014, 129.3 million Indians are expected to join social media forums. According to eMarketer, the fastest growth in social networking this year will come from India, followed by Indonesia and China.
With an increasing number of users registering on social media Web sites, small and medium enterprises (SMEs) can successfully use social media platforms to promote themselves. Despite the fact that social networking sites now reach 82 per cent of the world’s online population and social networking is the most popular online activity worldwide, SMEs are not capitalising on it.
It is true not only in India but even in the US, where nearly half of the population is engaged in social networking. Yet, according to a survey by Zoomerang, one out of every two small businesses in the US doesn’t have a strong social media presence.
Similarly, in Australia, which has a social network penetration rate of 44.4 per cent, only 34 per cent of medium and 27 per cent of small businesses are plugging into social media (Australian Interactive Media Industry Association). So why is social media still a scary prospect for SMEs?
CONTROL OVER INFORMATION
Primarily, the fear of losing control over sensitive information hinders social media adoption among SMEs. It is like putting part of the message in the hands of customers, who may go the wrong way.