Social media is the go-to platform for marketers and businesses to communicate and engage with their customers. It is an excellent way to drive traffic to your site, boost sales, and increase brand awareness. However, to use social media effectively, you have to understand how it works. Here are some critical social media statistics that every small business and marketer must know.
Firstly, according to Statista, there are 3.8 billion social media users worldwide as of 2020. This number is expected to grow to 4.41 billion by 2025. Facebook, Instagram, Twitter, LinkedIn, and Pinterest are the top five social media platforms amongst social media users worldwide.
Most social media users access their favorite platforms on mobile devices. As reported by Pew Research Center, 98% of Facebook users access it through mobile, while 74% of Instagram users use the platform from their mobile phones.
Notably, video Content is the most popular content on the internet and has gone mainstream on social media platforms. As reported by HubSpot, 85% of businesses use video as a marketing tool. Facebook reports that over 4 billion video views take place on its platform per day. Thus, creating engaging video content for businesses is a must.
Influencer marketing is the process of partnering with social media influencers to promote your brand or product. As per Influencer Marketing Hub, the average ROI of influencer marketing is $6.50 for every $1 spent. Plus, it enables brands to reach out to their target audience with authentic marketing messages.
Social media has been around for almost 20 years, and most brands have had their fair share of social media blunders. These can range from posting an insensitive tweet to offensive content or tone-deaf promotions that fall flat. And the cost of these mistakes is severe. A survey by Sprout Social found that 47.7% of consumers would boycott a brand over its political stance/promotion or values.
Social media has transformed the way businesses engage with their customers. Small businesses and marketers need to know these critical social media statistics to navigate the fast-changing social media landscape. Mobile dominance, video content creation, influencer marketing, and the risk of social media blunders must not be ignored. With the right strategies in place, social media can offer a wealth of opportunities for small businesses to interact with their customers, boost sales, and build brand awareness. Feeling overwhelmed? Let our team at 98 Buck Social manage your business’s social media!