There is so much research available that prove social media to be a powerful source to drive business. I don’t need to convince anyone that having a well managed social media strategy will only enhance your company’s success. Just look at the increasing numbers of platform users and companies that are thriving! However, many brands are not utilizing digital marketing to it’s full potential and letting their competition take the lead in online awareness. If this may be your company, take a look at these compelling statistics that may change your opinion on having a dedicated social media plan!
1. 81% of consumers’ purchasing decisions are influenced by their friends’ social media posts. (Forbes)
Monkey see monkey do, basically. On social media, trends and fads can become viral instantly from high visibility from users. Sally shares her new cool product on her Instagram, her followers see it, share it and so on with their followers. It’s a completely instant way for products and services to be recommended or not recommended to thousands of potential customers.
2. Consumers are 71% more likely to make a purchase based on social media referrals. (Hubspot)
Once Sally shares her new cool product, she continues to post about how cool and innovative it is and recommends everyone she knows to buy it. Possibly, Sally frequently posts about products with good reputations so her followers trust her opinion. Whether she knows it or not, Sally is a social media influencer and has the power to make a product cool...and successful.
3. 31% of consumers say they are using social media channels to browse for new items to purchase. (Aimia)
Social media pages are a secondary website and in some cases can be more effective than a website. Messaging on social media is limited, therefore a company only has a small space to sell their service or product. Consumers can also search their interests on social media through hashtags and tags to find new products that align with their hobbies and passions.
4. Millennials are 1.6x more likely to use digital channels to learn about new products. (Facebook Insights)
In addition to limited messaging on social media visual elements makes social media an attractive way to shop and purchase. Take YouTube for instance. Companies have begun launching and educating consumers about their products through video content. It’s a faster and more entertaining way to learn about products and what they have to offer.
5. 84% of millennials say user-generated content from strangers has at least some influence on what they buy. (Gartner)
Consumers are quick to post their reviews online when they’ve experienced a product or service. Consumers are also very quick to judge a company based on the reviews they receive. Purchasing decisions every day are based on reviews made from valid sources whether they are positive or negative. Yelp is designed completely for this reason, however Facebook is another source to read through comments of experienced customers.
6. 78% of consumers say companies’ social media posts impact their purchases. (Forbes)
Plain and simple, you need social media and you need to have a strategy plan to make it successful. Your content needs to be engaging and visually appealing. It needs to have consistency, yet variety. Your page should reflect your mission and goals that make your followers connect with your brand. That simple right? Stick around, we will get more into detail on how to make your social media pages successful!
The Social Butterfly