How valuable is a tweet or an instagram for a small business? Apparently not very. Business owners continue to affirm that word of mouth marketing is much more effective than social media, according to Bank of America's Small Business Owner Report. Over the past couple of years, the semi annual survey has asked small businesses about the marketing tactics they find most useful, and time after time their answer remains the same: word of mouth and customer referrals prevail as the most successful strategies.
In the graphic below, statistics company Statista takes a look at how much these companies value other forms of marketing.