Social media continues to grow and expand, and your brand needs to grow and expand with it. If your marketing strategies don’t include at least a few social channels, you’re missing out. We have straight facts about social media for you below!
In this post we’ll explore:
- What social media activity is trending
- Social selling and related marketing facts
- How to grow your consumer base and your social media presence
We are going to cover a fair number of facts about social media, but here are a few to whet your appetite:
- 6 billion people use social media worldwide
- 89% of top performing salespeople say social networking platforms are part of their sales strategy
- 97% of consumers go online to find and research products and services
It’s critical to understand where your fans are, and if you’re being talked about on social media. Below, a top beverage brand shows lots of volume on Twitter, Tumblr and forums over the past year. Conversation is sparse on Facebook and Instagram though – and these are channels this brand may want to target:
It’s easy to overlook some important channels when you’re planning your social campaigns – particularly when you’ve spread yourself too thin. You don’t need to be everywhere, but you do need to be on the right channels – at the right time. Let’s dive into facts about social media that your brand can’t afford to overlook as you sort out which sites are right for you!
Social Media Facts Your Brand Can’t Ignore
There are more than 3.6 billion consumers using social media worldwide today, and that number is set to increase to 4.41 billion by 2025. Social channels aren’t going anywhere anytime soon. And, more importantly, consumers are talking about you on them. Savvy brands are using social analytics to power their marketing strategy, helping them reach audiences that were previously inaccessible.
Facebook is the market leader and currently has 2.5 billion monthly active users. Nearly 25% of business owners are selling through Facebook and 40% are using social media as a whole to generate sales. This makes sense as research shows that consumers will spend 144 minutes per day on social media, an increase of almost 50% since 2015. And they’re not there just to chat. They’re looking for things to buy.
Searching for brands mentioned in relation to a specific beverage company (below), we see which are rating mentions in consumers’ social media posts. This is important because social media has the power to influence what consumers buy and 30% of these shoppers say they would make purchases through social channels such as Pinterest, Instagram, Twitter or Snapchat. This beverage company would do well to partner with one of these places.
Social media mentions mean big money for brands -78% of brands socially selling make better profits than those who don’t. In fact, social media users have exceeded quotas at higher rates than non-social media users, every year since 2010.
The facts about social media come down to this: If you’re not on it, you’re losing money, and your brands share of voice may be waning. Let’s look closer at social media marketing and consumer behavior to prove this point.
Social Media Marketing Facts
Consumers are paying attention to brands and 76% of them are ready to interact with you on social media. Which begs the question, if you’re not on it, why? Instagram ads earned roughly $20 billion in ad revenue in 2019 – and more and more brands are realizing and harnessing the power of social media to convert likes and shares into dollar and cents.
And 73% of marketers believe that their efforts through social media marketing have been “somewhat effective” or “very effective” for their business. 89% of top performing sales people credit social networking platforms with closing deals and being a critical part of their sales strategy. You want one more? 70% of B2C marketers have recruited their customers through Facebook.
Social media is critical to a brand’s modern day presence and overall share of voice.
Another fact about social media is that a brand can gather a deep understanding of what moves a consumer to purchase when actively participating on it. You can identify purchase drivers as well as barriers. And benchmarking this over time reveals how conversations shift, so you can adjust your messaging, marketing or campaign accordingly – and immediately.
For example, this timeline highlights discussions around lattes over the past year. Everything from plant-based milks to preferred flavors such as pumpkin and vanilla, are discussed. It’s a constant conversation signaling those lattes aren’t going anywhere, but the varieties consumers are happy with is shifting from month to month – and this fickle response is a social media fact that stands the test of time. Fortunately, we can explore each section to understand which flavors consumers love and which are falling out of favor:
By identifying these markers, you know which way the coffee bean is blowing can plan according to what’s trending with your target market. If you already know what’s driving your consumers to purchase, a love for vanilla lattes for instance, it’s easy to meet their demands and have the right products in stock in your stores. This makes consumers happy, increases brand love shared on social media, and your share of voice. It’s a win-win intelligence gathering activity.
Consumer Growth Powered by Social Media Marketing
You’re not limited to just identifying lattes. You can track trending terms, hashtags, even sentiments to discover unmet needs, perhaps highlighting areas of your own brand which already align with consumer beliefs. By identifying what consumers want, you have the opportunity to be the first brand to meet a specific and growing consumer desire. And a little-known fact about social media includes the importance of being first when it comes to meeting a new consumer desire.
Here we have consumer behaviors with attached sentiments of a top beverage brand. Behind each of these words are consumers’ wants and needs. For example, peering behind not buy we uncovered a common thread of price and a feeling that the product offered is too expensive. Consumers are spending elsewhere as a result – and telling other consumers about it.
This is a problem, as 97% of consumers go online to find and research products and services, which is another startling fact about social media. Seeing these price concerns could give new consumers pause, so stay on top of those concerns and be sure to message out ahead of them. Nielson shows that 80% of consumers purchase a product based on recommendations from someone they know. Word of mouth is still the best salesman and social media has the biggest mouth there is!
Ninety percent of all marketers say social media marketing has increased their brand reach, and this in turn increases consumer growth. The facts about social media and consumer growth are:
- 77% of Twitter users report feeling more positive towards a brand when their tweet has been replied to by the brand’s Twitter account.
- 71% of consumers who have had a positive experience with a brand on social media are likely to recommend the brand to their friends and family.
- Customers report spending 20%–40% more money on brands that have interacted with them on social media.
And then there’s the fact about social media that relates to user generated content. It’s a powerful and free tool every brand should strive to encourage, as 93% of marketers agree that consumers trust content created by other customers more than they trust content created by brands. There’s no better and more trusted salesman than a happy customer.
Not only can these posts help elevate your brand’s awareness, but they also offer a peek into the lives of those using your product. And this helps you design relevant messaging. For example, this traveler and new mom will have very specific needs and values that should define how this athletic wear brand markets to her. It’s important to know this consumer segment exists to design campaigns effectively.
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Social analytics is key to consumer understanding on a multi-dimensional level. You no longer have to guess what consumers want or need, it’s right there on social media. Perhaps your brand speaks to other athletic, latte loving moms out there. Or you can create targeted ads for specific groups of people by sharing common interests. It’s a fact about social media that many diverse groups exist, and brands have only scratched the surface when it comes to effectively reaching them.
If you notice that physical fitness is a hot topic with your consumers, you might align your messaging with this in an ad. Or it might be time to speak to work from home professionals seeking comfortable, yet fashionable styles. Creating a post talking about either subject could encourage engagement and further understanding of a segment’s wants and needs.
And it all helps you understand what’s important to potential consumers – what they value.Two thirds of consumers prefer to buy goods and services from brands whose values align with theirs and social media analytics are the key to unlocking that door – another fact about social media that you can take to the bank!
There are endless ways for your brand to use the power of social media. Reach out for a demo that’s relevant to your brand and overarching category. Social media continues to expand whether or not you’re ready to make the most of it, and your consumers will find a brand that is.