Social media importance in Businesses Social media networks were a novelty a few years ago, but today their importance is no longer debated. Businesses have definitely realized the Importance of social media and accepted that social media marketing has to be part of their marketing strategy and PR mix.
In Social Media Examiner’s 2018 End of Year Report, marketers now place very high value on social media marketing:
- 87% of marketers stated that social media is important for their business.
- 90% of marketers stated that increased exposure was the number one benefit of social media marketing.
These are the importance and benefits of social media that are listed:
- Increased exposure
- Increased traffic
- Developed loyal fans
- Generated leads
- Improved search ranking
- Grew business partnerships
- Reduced marketing expenses
- Improved sales
- Provided marketplace insight
Social Media is the Game Changer
It’s obvious that social media will continue to have a significant impact in 2020 on business owners and marketers: They now have the ability to reach out on a personal level with the target audience on a daily basis. This is a game-changer for businesses engaging in marketing, customer service, sales, and other business activities. This is extremely powerful and has never been available with traditional marketing!
The success gap is widening between businesses that are using social media in an informal, ad hoc manner and those taking a more strategic, planned approach. This has significant implications:
Businesses that use social media strategically are more satisfied with the results than ad hoc users, who are more skeptical about the importance and value of social media.
Businesses that use social media as part of a planned corporate approach are 2 to 2.5 times more likely to anticipate revenue growth than ad hoc users.
Much has changed over the last year in social media, and it will continue to change in 2020. Here are the Best Tips for Successful Social Media and Digital Marketing in 2020. Some Powerful Stats and Information from 2019
Social media is now the leading Internet activity: people spend an average of 37 minutes daily on social media, a higher time-spend than any other major Internet activity, including email.
Facebook is still the leading social media network and continues to grow more and more. Here are the latest facts and figures:
- Facebook now has 1.59 billion daily active users
- Facebook averages 2.41 billion monthly active users
- There are 307 million daily active Facebook users in Europe
- Facebook averages 1.74 billion mobile active users
- Every 60 seconds on Facebook: 293,000 statuses are updated, 510,000 comments are posted, and 136,000 photos are uploaded.
YouTube is more popular than television: YouTube reaches more adults than any cable network. In the US, the number of people who watch YouTube on a regular basis has grown behind the number of people who watch television. This makes it clear that online consumption of video is on the incline, televised content is undergoing a decline. Many companies have taken advantage of this by releasing their ads or marketing campaigns on YouTube first before they debut on TV.
LinkedIn is still the largest professional business network and continues to grow but not at the pace of Pinterest or Twitter. Here are some numbers from Visual.ly.
Pinterest is one of the fastest-growing social network right now. The visual web is driving the rise of Pinterest and Tumblr with 74% respectively and growth rates of 88% over the last 12 months. Pinterest is also the leading referral source for organic traffic, which is good for high search rankings.
Some social media networks have more active user-base than others. Statistical research has revealed that more than 95% of Facebook users log into their accounts every day. That number for Twitter is 60% and for LinkedIn is 30%.
Look at this useful information on demographics of key social networking platforms from Pew Internet Social Media Update 2018.
What are 2 key factors driving social media in 2018 and 2019?
According to the GlobalWebIndex study, it is:
Mobile: the number of people accessing the Internet via a mobile phone increased by 82% to 1.5 Billion in 2019. There are now 95% of worldwide users who are using Smartphones & tablets. Facebook’s 171 million US daily mobile users make up a whopping 90% of its 190 million daily US users.
Older user adoption: On Twitter, the 55-64 year age bracket is the fastest-growing demographic with an 80% growth rate since 2013. The fastest-growing demographic on Facebook’s networks are the 45 to 54 year age bracket at 46% and 56% respectively. So maybe that’s the reason your grandparents and parents aren’t visiting that much anymore. They are too busy on Facebook and Twitter! The challenges businesses have in using social media are:
- Lack of time
- Inability to measure value
- Difficulty integrating social media with other business activities
- Lack of budget
These defies can be overcome if social media is planned and done strategically! Social Media Channels. Which One to Choose? A business should pay attention to which social media platforms will help them reach their goals with relevant audiences, whether that’s generating greater visibility or sales. Business owners should decide which networks are best for their business. Here are the most popular ones:
- StumbleUpon and Digg social bookmarking
- Slideshare presentation sharing
And of course, blogging is key! These are some tips for generating great online content to feed your social media networks!
Social media is not an end unto itself. It MUST be integrated and work hand-inhand with all your other marketing and PR initiatives which should be continued to reach all your marketing touch points and your ultimate success. These can include:
- Email Marketing and growing your email list
- Search engine optimization
- Event marketing (speaking and networking)
- Direct Mail
- Online ads (Google Adwords)
- Print display ads
- Mobile Marketing
Sharing is Caring!
This sounds basic, but make sure your blog, website and email newsletter include social “share” buttons for people to easily share your content on ALL their social media networks. Add your social network links to your email signature.
What Will Social Media Do For Your Business?
Making social media an advantage for your business will allow your business to:
- Be found!
- Establish a stronger brand
- Boost sales
- Share expertise and knowledge
- Tap into the wisdom of customers
- Interact and receive valuable customer feedback
- Free advertising: satisfied customers talk about your company, this is the strongest word-of-mouth-marketing
- Build a community