Statistics that Prove the Importance of Social Media Marketing in a Business

The digital shift is well underway. This surge of change, accelerated by the events of 2020, represents a massive change in how businesses and consumers view, use, and prize social media—and we have the facts to back it up. If you are wondering whether or not to start investing more in social media, right now is the time. The sooner you consider social media a crucial business function, the further you will be carried by the powerful social current—those who fail to do so risk being left behind.

Consumers Discover about New Companies on Social Media in 55% of Cases

Consumers are nearly as likely to learn about brands or companies on social media as they are through television or radio advertisements. We do not have to watch or listen to ads in the age of streaming anymore! Because we have the option to fast forward, change the channel, or choose from an endless library of commercial-free programming. Ads and brand content appear in or next to a social stream on social media, and They are similar to the content we get from our family, friends, and other connections. Simultaneously, the value of radio and television advertisements is declining, so if your company is searching for a worthwhile investment, try social media platforms.

The Importance of this Item:

When it comes to the 55 percent of consumers who learn about new businesses through social media, Gen Z and Millennials are the most inclined to do so. As the purchasing power of these digital natives grows, so will the growth of social networks, which will reach over 243 million users in the United States by 2025. Consumers will most certainly discover your competitors first if your brand is not ready to profit on the rising networks.

Consumers Agree that Social Media Allows them to Communicate with Brands and Companies in 68% of Cases

While traditional advertising and marketing approaches are one-way media, relying on a brand’s monologue to attract customers, social media encourages dialogue and provides consumers with new possibilities to interact. At least two-fifths of consumers claim that they interact with brands or companies on social media by “liking” or “following” their posts. Consumers also use social media as a feedback system where they may report product issues, submit a review, or privately communicate with a company.

The Importance of this Item:

Customer involvement is a top priority for many marketers, and social media can positively impact customers’ purchasing decisions. Responsive brands that respond quickly and participate in two-way contact with their customers are better able to meet their requirements, personalise their content, and humanise it in a way that builds stronger relationships with their customers.

In the Past Year, 43% of Consumers Expanded their Use of Social Media to Discover New Products

Almost everything transitioned to the digital domain when the COVID-19 pandemic shut down the physical world and people holed down at home. In the last three years, consumers’ usage of social media for discovering and learning about new products or services climbed by 43%, a trend that is projected to continue. Just over a third of customers follow and connect with businesses more now than a year ago, and they expect this trend to continue.

The Importance of this Item:

Businesses must establish forward-looking initiatives that put their products and services front and centre as more individuals embrace a social-first customer journey. Another business initiative that executives are willing to engage in is social commerce, which offers just that while allowing consumers to transition from discovery to purchase mode in one spot seamlessly.

Conclusion

Businesses of all sizes finally realise social media as a business function rather than just a marketing tool. Outside of marketing, firms will rely on social data more than ever before to inform strategy and business decisions in the coming years. Your social team will become the best resource for support when other departments in your company use social data. Social marketers are already masters at transforming social data into strategic business suggestions, targeted content, and other forms of content. Begin promoting your knowledge actively to impact other aspects of your company.