If you’re still wondering whether you should invest in your social media strategy, the answer is–yes. Social media is here to stay and whether you want to accept it or not, the hard truth is, it’s not going away. The platforms may change and one will fade while another rises; however, social media as a channel will continue to be an outlet for your audience to connect and research for news and information.
The rise of social media has changed the way consumers find products and services; however, it is not to say that you should stop all other marketing investments. Social, or should I say digital media, has become just another channel to reach your audience and should not be looked at as a different department. The best approach is an integrated approach, linking your social, print, direct mail, web, radio and television marketing to weave your story and engage your target audience.
Let’s face it, consumers have never been so tuned in and connected to brands before in history, so you must meet them where they are. Today, a loyal customer is more than just someone who returns for more products, they have become advocates and bring with them a network of prospects. How you engage and retain their loyalty is through authentic and genuine conversations in their everyday lives and that’s where social can help your business.
If you’re still not convinced or need a little help to make a case, here are a few facts:
- First and most important, your competitors are doing it
- 28% of users turn to social networks to do product research before purchasing
- 40% of users are following their favorite brands on social media
- 1 in 4 users are following brands on social media from which they might make a purchase
- 7 out of 10 Americans use social media to share, engage, entertain and communicate with one another
- 76% of users report that they visit Facebook regularly and 56% report that they visit several times per day
- Facebook hit 1.57 Billion users during 3rd quarter in 2016, that’s more than the population in China
- LinkedIn is the 3rd most used social network for business owners
*Source: J. Clement, August 14, 2019. Number of Worldwide Social Network Users, Statista
*Source: James Mulvey, April 10, 2018. Social Media in 2020: 11 Data-Backed Predictions, Hootsuite
*Source: TJ McCure, June 26, 2018. Social Media Is Increasing Brand Engagement and Sales, Forbes