A recent study has displayed that small to medium-sized businesses (SMBs) are dedicating more and more of their advertising spend to social media marketing initiatives on sites such as Twitter and Facebook, according to an article published by AllTwitter.

More than 4,000 SMBs were surveyed as part of the study by Borrell Associates.

Around 60 per cent of the companies surveyed stated that they operated a presence on a social media site – of which Facebook was the most popular, with around 60.7 per cent of SMBs operating a profile on the site.

Whilst email marketing (17.4 per cent) and paid search (15.1 per cent) currently accounts for more of the average SMBs advertising spend, social media marketing, according to Borrell Associates, is said to be closing in – with 13.7 per cent of an ad spend exerted on initiatives.

It has been estimated that around $6.2 billion was invested in social media marketing initiatives during 2011, according to the study – of which, $4 billion was spent on Facebook campaigns.

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