Newly released research by eMarketer that focuses on business with 1 to 249 employees reveals the smaller guys don't tend to consider social media a key component of their business.
An earlier study by Harris Interactive pointed out that 13 percent of senior level executives in Fortune 1000 companies believed social media was unimportant or a fad. It's surprising to see that 5 times this number in small business believe the same—yes, 64 percent of small businesses in the eMarketer study don't consider social media important—considering that they should be small and agile and adapt to new technology.
Then again, these aren't all tech startups, which explains a lot.
Social media may not double one's sales overnight, but to underestimate its ROI is foolish for these businesses. This study doesn't necessarily prove anyone is stupid though, but simply that social media is still in many ways a space for the tech-savvy and isn't quite as mainstream as the techies believe.