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SOCIAL MEDIA NEWS: SMEs flock to join BT Tradespace

BT Tradespace has announced 400 per cent year-on-year growth.  

The B2B social networking site – which was launched with the ‘specific mission’ of helping SMEs promote themselves, communicate with other businesses and grow – marked its second anniversary this month by signing up its 350,000th member.

“We think this popularity demonstrates how under-served the needs of SMEs are online,” says general manager of BT Tradespace, Ivan Croxford. “We saw a definite niche in the market when we launched a couple of years ago, and we remain the only network to meet these specific SME requirements. I think this is reflected in the subscription levels we have seen.”

The review described how nearly 500 members have been joining the network each day since its launch in 2007. Three thousand communities have also been created – with the most popular ones being those for people who have set up home-based businesses.

BT claims that the sites comprehensive directory of SME products and services is a particularly popular feature for users. “Not only is this a social networking tool for businesses, but it can deliver real conversions,” adds Croxford.

Research by the communications company showed that three-quarters of smaller companies see the web as a strategic business tool, and 45 per cent make a quarter of their sales online.

“The internet opens up a global marketplace for SMEs, helping them to compete and prosper in times of mounting economic difficulty,” says Croxford. “These figures show that companies are now realising that they must embrace the opportunities offered by the web if they are to prosper in the digital age.”

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