As with any part of a business, the landscape of social media is ever-changing. From new ways of interacting with consumers on platforms such as Instagram Reels to the continuous growth of brand interaction online, it is crucial that businesses continue to adapt to the various evolutions of these platforms.
With every new development overtime, there is an opportunity for your business to adapt and in turn become more effective in brand awareness, increasing engagement, and ultimately getting more sales. Social Media continues to grow in its amount of assets that can be utilized by businesses, and create more potential for you to succeed on the platform. Your business must understand the current patterns and trends that will enhance your marketing strategy and allow your business to grow.
But how can you execute these opportunities for your business’ platforms in a way that effectively creates the most success?
1. In 2022, there are over 5 billion active social media users.
As of this year, over half of the world is now present on social media. Furthermore, this number is a 10% increase from last year’s statistics. Social media continues to grow and be a crucial source of media and communication, especially between businesses and consumers.
2. The current global advertising market is worth more than $700 billion.
Just like the platforms of social media, the advertising market has also grown significantly this year. Although advertising becomes more competitive as more businesses invest, this method of marketing would be quickly abandoned if it was not effective. Advertising on social media platforms is a successful way for potential leads in your target audience to discover your business.
3. The average social media user is present on 9 platforms.
As a business, it is important that you are present and active on the platforms your target audience uses. Creating quality content and an active presence on every social media platform can be time consuming, so your business should understand what platforms your consumers utilize the most and focus on succeeding specifically on those.
4. 90% of social media users follow a business platform.
Any business not on social media is actively losing potential quality leads every day. Social media is a great way for consumers to keep up with their favorite brands and in turn become a recurring customer in a product or service they believe in.
5. Almost 85% of Instagram users use the platform to discover new products and services.
Not only is social media a way for consumers to keep up with brands they know, it also allows them to search for new business and products to invest in. Furthermore, after discovering a new business on social media, 87% of people actually took action and bought a product. Developing a platform that speaks to your business’ brand brings greater brand awareness and exposure to quality leads.
6. The average facebook user clicks on at least 12 ads per month
Along with the ever-growing advertising market, consumers also utilize pathways such as Facebook ads to discover and learn more about a business’ products. As mentioned previously, you must understand your audience and what marketing strategy they will respond best to, which may take some trial and error.
7. 60% of people cite that the authenticity of content is a main factor in following a brand
Consistent content that is authentic to your brand’s voice captures the attention of potential consumers and heavily influences their buying decision. The more engagement you can get on your page by posting quality content, the more success you will see from your business’ platforms.
8. Over half of people like seeing polls and quizzes from businesses on their platforms
There are many different features of social media, such as polls and Q&A boxes that give followers another way to interact with your business on social media. Not only does this engage consumers, but also provides them information about your products or services in a creative way.
9. 63% of customers expect businesses to offer customer service through social media
Social media has evolved into an avenue of communication between the brand and user. By being active on your platform, it allows your business to build a relationship with your potential and recurring consumers in a way that builds trust and rapport. Utilizing your platform as a medium for customer service strengthens this dynamic because it illustrates to your customers that your business cares about their feedback and satisfaction with your products.
10. Visual formats are 40x more likely to be shared on social media
Social media is a visual medium to search and communicate. By providing visual formats in your content, you will boost consumer engagement, interest in your brand, and drive them to ultimately make that sale. User generated content and video marketing are a few examples of visually formatted content.
With all of these statistics in mind, it is crucial to develop a strong marketing strategy for your social media platforms with your target audience in mind. As social media continues to provide more opportunities to businesses, you must adapt and take advantage of the features offered to continue seeing the best results.
To help effectively grow your social media and seize the opportunities it can offer your business this year, click here to book a free personalized demo with our team.