This was a key finding of a new Sensis survey of 1,100 businesses and 800 consumers. Only 56 per cent of large businesses surveyed had a social media presence this year compared to 77 per cent last year.
In contrast, the number of small and medium businesses with a social media presence also dropped from 37 per cent to 31 per cent over the same period. Only 29 per cent of large businesses are measuring return on investment from social media programs.
Sensis' GM of digital, Evan Ravensdale, said ratings and reviews should be a focus for businesses that want to retain customers. In fact, 62 per cent of customers are open to changing their opinion of a business if it responds to feedback on social media, and twice as many consumers (68 per cent) are engaged with social media than businesses (33 per cent).
"Businesses should invest in channels that are a match between their business and customer type. While Facebook still dominates with 93 per cent of users, the landscape has significantly changed," said Ravensdale.
"Businesses want to be talking to the right people at the right times and measuring what impact their marketing spend is having.
In an environment where fresh content is a key driver for impressions, the statistics in the report on consumers' viewing habits (45 per cent when waking up and 41 per cent before bed) don't fit with a strategy that employs a social media manager from nine to five," he said.
Read more:Regional Australia embraces social media
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