Small Business Social Media Adoption

Why is it that social media is important to business? maybe in an industrialized and technologically advanced country like the U.S.A. I can say that a business will have a great opportunity. In a survey of small businesses revealed by Citibank which you can read here,  you will find out why and I quote:

According to the survey, use of social media increased significantly over the last year, with 36 percent of small business owners saying they use social networking sites such as Facebook, Twitter or LinkedIn to market their business, compared to just 19 percent a year ago.

And what about the Philippines? will it have any benefit if a business will use social media to market their products and services? there is no doubt that we are being left behind with our neighbors here in south east asia with regards to economy and wealth but guess what? The Philippines have 22,376,740 facebook users as of April 2011 and ranks at #7 on the most number of users worldwide according to Nick Burcher. Not only that, but if you will see the data (see below), starting on 2009, there are only 1 million users but on 2010, it increased more than ten times at 11.56 million and this year, 2011 at 22.37 million so it is possible that it will double the number next year.