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The low cost of small business social media plays a key role in start-ups' success.

Emma Jones, co-founder of StartUp Britain, said technology has enabled more people to keep costs down while starting up their own business.

She noted some businesses do all their promotion via Facebook and rake in "thousands of pounds worth of sales". "Free and low-cost social media has represented a great way of small businesses being able to promote themselves and make sales," Ms Jones added.

A small business social media budget of £50 can gain international exposure, she claimed, continuing: "I think people are recognising that as long as they have some business cards, a smartphone and a good idea – you always need that – a huge investment is not needed to get started."

The cost of small business social media

While social networks like Facebook and Twitter are free to join, managing accounts requires a fair amount of resources. In addition to engaging with customers by responding to questions, creating fresh and engaging content on a regular basis is time-consuming, as is promoting that content.

eMarketer senior analyst Paul Verna told MSN's Business on Main site that with cost a critical consideration for small businesses, "even having one person dedicated to your social media profile better have an intense payoff at the other end". 

However, social media is still a very cost-effective way for small businesses to promote their products and services. Adobe's Barry Leffew told the Washington Post organisations on a tight marketing or communication budget should look to social media as a solution.

He claimed social media interaction with customers is "a lot less expensive" than dealing with people in person or via a call centre.

Read more about the cost considerations of small business social media:

Online marketing is the way to go on a small budget 
More marketing cash being spent on social media 
Cost-effective small business online marketing