Social Media is a New Business Engine
Social media are no longer a want but a need for every business-minded person. People create online business networks, interacting with friends and loved ones, learning the latest news and discoveries with a simple click of the mouse. Today, there are around 4 billion or active social media users, and the number grows exponentially every second. Yes, social media is here to stay, and it is already a significant part of our lives and work.
Social media takes over the title of the main channel of marketing and advertising, leaving traditional broadcast and print media to slowly fade into oblivion.
If you still think about how social media can help your business, let me walk you through a few points with some interesting facts and stats.
Social Media and Brand Awareness
Facebook is the first most visited website, followed by YouTube, with a staggering 1.95 billion users. Facebook is also the most searched query on Google, followed again by the video-sharing platform YouTube.
With more consumers spending more time on social media – businesses should follow the lead. Today, there are more than 60 million Facebook Business Pages reaching billions on the social media platform.
Here are quick Facebook numbers:
Social Media and Brand Loyalty
In 2021 it becomes normal to obtain loyal fans through social media and not through the expensive billboards at Time Square. For example, 66% of users between the ages of 18 and 24 are more loyal to the brands they follow on social media than those they discovered offline. 49% of Facebook users confirm that they will support and promote (re-share) the brand pages they liked on the platform.
Social Media and Sales
Robust economies, like the United Kingdom (78%), South Korea (74%), Germany (74%), Sweden (70%), and the U.S. (69%), have the highest percentage of the population that purchasing items online.
Interestingly, the highest percentage of users — ages 18 to 34 years — has the most buying power, and they are the ones who base their choices on social media influence factors. According to a Nielsen study commissioned by Twitter, one in four new vehicle buyers in the United States used Twitter to help cement their decision and secure their purchase.
- 39% of senior marketing specialists said they saw a medium return on investment (ROI) from organic social media posts.
- 20% saying they received the highest ROI from this sort of marketing channel.
- 36% said paid ads and promoted posts brought in medium ROI.
- 17% said the social media ads provided high ROI.
It is impossible to deny the level of social media influence over our lives and businesses. As a giant network, it reaches to and connects everything – consumer choices, brand awareness or loyalty, sales, and the way we do business today. Trust our words – if you are not going to think about your social media strategy today – your business will be down tomorrow.