Report: 41 percent of UK companies using social media

A recent study conducted by Regus found that approximately 41 percent of U.K. businesses are now using social media in order to increase their business.

Though this is still less than half of U.K. companies, it represents an increase of 8 percent increase over last year.

Furthermore, the study found that a growing number of businesses are using social media in order to stay connected with existing customers.

When ecommerce first emerged, many felt that a website with a solid online payment gateway was all that is needed to successfully leverage the commercial power of the internet. The rise of social media has shown that the internet can be used in far more powerful ways to tailor business, attract new customers and communicate with old ones.

U.K. ecommerce stakeholders apparently recognise this, according to the study. Approximately 66 percent of respondents in the U.K. said that marketing activities can no longer be successful without using social media.

According to a recent Econsultancy report, online retailers are expected to spend approximately £690 million on new ecommerce technology in 2011.