Statistics that make us see the importance of Social Media marketing for businesses

Digitalisation of the world market place is in full swing. Accelerated by the pandemic, this wave of transformation marks the surge in how businesses and consumers value social media.

According to recent research, social media marketing stands one of the crucially important tools for businesses of every shape and size.

1. 55% of consumers learn about new brands on social

Social media is a place for discovery and now, it’s nearly as common for consumers to learn about brands or companies on social as it is through TV or radio ads.

In the age of streaming, we don’t need to watch or listen to ads anymore. We can fast forward, change the channel or take our pick from an infinite library of commercial-free content. On social media, however, ads and brand content live in or next to a social stream and look a lot like the content we consume from our friends, family and other connections.

At the same time, the value of radio and television ad spots are deflating, so if your business is looking for a worthy investment to redirect ad dollars to, consider social.

Why it’s important? - When we look closer at the 55% of consumers who learn about new brands on social, Gen Z and Millennials are especially likely to use social for brand discovery. As the spending power of these digital natives increases, the size of social networks will also continue to grow.

68% of consumers agree that social media enables them to interact with brands and companies

At least two in five consumers report that they engage with a brand or company by “liking” its posts or following it on social media. Additionally, consumers treat social media as a feedback loop where they can report issues with products, leave a review or privately message a company.

Social offers huge potential for customer engagement, a primary goal for many marketers and a positive influence on customers’ decisions to buy from a brand. Responsive brands that continuously react and engage in two-way communication with consumers are better equipped to serve their customers’ needs, dial up personalization and humanize their content in a way that forges deeper connections with customers.

43% of consumers increased their social media use to discover new products in the last year

When the COVID-19 pandemic shut down the physical world and people hunkered down at home, nearly everything shifted to the digital space. Consumer use of social to discover or learn about new products or services increased 43%—a trend that’s expected to continue in the next three years.

Not only does a positive experience encourage a customer to make a purchase from your brand, but they’re also more likely to choose your brand over competitors, recommend your brand to their own network and feel stronger brand loyalty.

5.80% of business executives think it’s very important or essential to invest additional resources in social media marketing

Social can make big brands feel welcoming and accessible. On the other side of the spectrum, small businesses can use social to reach larger audiences while also engaging local, loyal followers. But without the right tools and resources to enhance your social presence, explore new creative content and efficiently communicate with audiences at scale, businesses risk falling behind.

It’s not just executives who think investing in social is critical—62% of consumers believe brands need a strong social presence to succeed in the long run.

7. 72% of companies use social media data to inform business decisions

According to 72% of business executives, traffic data produced by the Social Media channels is the top data source used to make business decisions, gradually replacing market research and becoming a primary source of business intelligence.

On the surface, the social space may appear crowded and noisy, but when marketers are able to cut through that noise with analytics and social listening tools, they can discover a wealth of rich insights that the smartest brands use to differentiate their strategies.

Prepare your business to catch the next wave of digital change – optimize your social media with Digital Transilvania. Get in touch today!