Today, social media is the primary marketing channel for all businesses. In fact, social media has become a way to get maximum exposure for your business and is considered the first point of contact between companies and their potential clients. Social media marketing allows you to build a strong relationship with your customers and target audience with a wide range of promotional activities and benefits.
Digital transformation is on the rise. This wave of digital transformation, accelerated by 2020’s events, marks a shift in the way consumers and businesses view, use, and value social media. We have the data to prove it.
Businesses are now asking when it is best to invest In social media. Social media is a vital business function. The sooner you embrace it, the more you will benefit. Companies that don’t assume social media risk being left behind.
Read on for seven statistics that show how important social media marketing can be for all businesses, no matter their size.
1- 55% of consumers discover new brands via social
Social media can be used to find out new brands and companies. It’s almost as common now for people to find out about them through social media as they are through radio or TV ads.
Streaming has made it possible to skip the ads. You can skip, change channels or choose from a vast library of non-commercial content. On social media, however, brand content and ads live alongside a social stream. They look much like the content that we consume from family and friends.
Engage, Serve, and Make Your Brand on Social Media
We can see that 55% of consumers discover new brands via social media. Gen Z and Millennials will be using social media for brand discovery. The number of social network users will grow as digital natives spend more. By 2025, there will be over 243 million US social network users. Your brand will be discovered by those consumers first if it is not ready to take advantage of the expanding networks.
2- 68% of consumers believe that social media allows them to interact directly with companies and brands. Gleichzeitig,
Traditional marketing and advertising are one-way media. Brands rely on monologues to win consumers over. Social media encourages dialogue and offers consumers unique opportunities for engagement.
Two-fifths of consumers say they interact with brands or companies by liking their posts and following them on social media. In addition, consumers view social media as a feedback channel to report product issues, leave reviews, or privately message companies.
Achieve higher levels of engagement
Social media has enormous potential to increase customer engagement. This is a crucial goal for many marketers and influences customers’ decisions to purchase from a brand. Receptive brands that are open to dialogue with consumers and respond quickly to their needs will be better equipped for personalization and a deeper connection with their customers.
3- 43% of consumers have increased their use of social media to find new products over the past year
Nearly everything moved to the digital realm after the COVID-19 pandemic decimated the physical world. The 43% increase in social media use by consumers to find and learn about new products and services is expected to continue for the next three years. As a result, we hope to see more consumers follow brands and interact with them in the future.
Connect with the world in every step.
Businesses need to plan forward-looking strategies that put their products and services at the forefront of customers’ minds as they embrace the social-first customer journey.
Never underestimate the power of positive experiences with your company or brand on social media.
4- 78% of consumers will buy from a company if they have had a positive experience on social media.
It doesn’t matter if that experience is driven primarily by top-notch customer service or relevant content. Or if it simply demonstrates an understanding of customers on a personal level.
Customer experience is the new marketing.
A positive customer experience encourages customers to buy your brand and makes them more likely to recommend your brand to others and build brand loyalty.
Positive customer experiences are based on specific customer expectations. However, there are many factors businesses need to keep in mind.
5- 80% of business executives believe it is very important or necessary to invest additional resources into social media marketing
Big brands can feel more welcoming and accessible through social media. Small businesses can also use social media to reach larger audiences and engage with local, loyal customers. Businesses are risking themself to be left behind if they don’t have the tools and resources necessary to increase their social presence, create new content, and communicate effectively with large audiences.
It’s like this: A car that doesn’t have gas can’t get you anywhere.
Businesses now view social media as a tool for growth, and 80% believe it is essential to invest in social media marketing.
The business’s social goals will determine whether the budget is used to hire new employees, pay advertising, content production, or a social media marketing tech stack.
6- 91% of executives plan to increase their social media marketing budgets over the next three years.
Social media marketers have had to face many challenges in securing resources and a budget in the past. However, social media marketing budgets have been increasing all over the world.
These budgets are not only increasing in size, but they are also getting a significant boost. More than half of executives polled believe that their social media marketing budgets will rise by more than 50% by 2024.
It all depends on the business’ social goals.
Get Social, Get Data
Social investments won’t always yield a return for businesses. However, if you start now and nurture your strategy with data, you can reap the long-term benefits of your social network. Social data is now the most important data source for business decision-making, surpassing market research.
7- According to statistics, 72% of businesses use social media data for business decision-making
Social media is more than just marketing.
Social media is becoming a more critical part of businesses. It’s no longer a marketing tool. Instead, companies will increasingly rely on social data to help them make business decisions and plan for the future.
Your social team will be a crucial resource as other departments in your company start to leverage social data. Social marketers have mastered the art of turning social data into targeted content and strategic business recommendations. You can apply that data to influence other aspects of your business by proactively displaying it.
Social media has a wide range of benefits that can make or break your business.
From Facebook to Twitter, using social media to drive the digital transformation of your business is becoming more and more critical. The stats show it, too, with 73% of marketers agreeing that social media marketing is essential for business growth.