75% of businesses in Australia surveyed by Nielsen are using social media. And they spend up to 10% of their marketing budget on it. The leaders are the big banks, according to the Nielsen-Community Engine 2011 Social Media Business Benchmarking Study.

Study noted that SME’s not using it as much but a big reason for that is a lack of resource-time to keep it up.

14% of businesses use Share buttons on their websites. 17% use social shopping. 20% want to create their own network rather than rely on external platforms. 23% use social media to gather customer feedback. 20% use it to react to customer comments. 43% see it as a way to communicate with consumers.

Most spending is on Facebook then corporate blogs. Few businesses are spending on YouTube, MySpace, Twitter and Flickr.

Source: Smartcompany.com.au