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SunTrust: Small Businesses Ramp Up Social Media and Online Marketing

May 14, 2018

ATLANTA, May 14, 2018 /PRNewswire/ -- Small businesses seeking to capitalize on improved economic conditions are planning to make their social media and online presence a greater priority this year. According to a SunTrust Banks, Inc. (NYSE: STI) survey of more than 500 small business owners, one in three is likely to invest in "social media and online presence." About the same proportion – 34 percent – wants to develop their internet and social media skills.

The survey also asked what owners would focus on if given the opportunity to start over again. More than one-third said they would give greater attention to marketing and advertising their business.

"Small business owners are increasingly seizing the power of social media to reach consumers in real time," said Reggie Davis, head of Metro Business Banking and Small Business at SunTrust Bank. "With sixty-four percent of small business owners viewing economic and business health as strong or extremely strong, now may be the right time to invest in these online channels. When business owners put best practices in place, they have greater financial confidence to pursue growth plans."  

SunTrust is helping small business owners achieve their goals with the following tools featured on its Best Practices site:

  • Four assessments to help business owners understand how well they are managing cash flow, growth, profitability, and asset protection to identify potential areas for improvement. The assessment results will include a downloadable report with actionable next steps.

  • Insights from SunTrust's small business survey so owners can compare their own strategic plans with findings from interviews among more than 500 small business owners. 

  • A checklist of best practices in six important areas of financial management for small business owners, as well as downloadable action guides to help implement change.

To experience the Small Business Best Practices site, visit suntrust.com/bizbestpractices.

Decision-makers from 532 small businesses, with annual revenue between $100,000 and $2 million, participated in the nationwide survey, conducted from February 20 - March 5, 2018.

About SunTrust Banks, Inc.

SunTrust Banks, Inc. is a purpose-driven company dedicated to Lighting the Way to Financial Well-Being for the people, businesses, and communities it serves. SunTrust leads onUp, a national movement inspiring Americans to build financial confidence. Headquartered in Atlanta, the Company has two business segments: Consumer and Wholesale. Its flagship subsidiary, SunTrust Bank, operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states, along with 24-hour digital access. Certain business lines serve consumer, commercial, corporate, and institutional clients nationally. As of March 31, 2018, SunTrust had total assets of $205 billion and total deposits of $162 billion. The Company provides deposit, credit, trust, investment, mortgage, asset management, securities brokerage, and capital market services. Learn more at suntrust.com.

 

SOURCE SunTrust Banks, Inc.

For further information: Angela Amberg, (404) 813-1885, [email protected]


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