A new study shows social media use by small companies has doubled — and that more than half use it to attract new business. The study, called “The Small Business Success Index”, sponsored in part by Network Solutions reports that social media adoption by small businesses is up from 12% to 24% in the last year. The study found that nearly one in five small business owners are actively using social media in their business, mainly to identify and attract new customers.

Key social media usage highlights include:

  • 75% surveyed have a company page on a social networking site
  • 61% use social media for identifying and attracting new customers
  • 57% have built a network through a site like LinkedIn
  • 45% expect social media to be profitable in the next twelve months