Survey: Small businesses invest more in social media

San Francisco—Small businesses are spending more on social media, according to a new survey by VerticalResponse. The online survey, conducted in September and October, took the pulse of 462 small businesses.

According to the survey, more than 22% of small businesses increased their social media budget this year, while only 6% reduced it. Twenty-nine percent of small businesses reported an increase in their overall marketing budget compared with last year.

Sixty-six percent of small businesses reported spending more time on social media this year compared with last year; 43% of respondents spend six or more hours per week on social media activities for their business.