We’ve been in the social media game for a long time now – well, for a relatively young industry, that is. Although we may not have frequented Six Degrees back in our day (…look it up), we were already forging paths on MySpace, Flickr, YouTube, and Reddit before we knew how important marketing would truly be in our careers and lives.
Up until about a decade ago, social media was seen as a “nice to have” – a fun little activity that small business owners could play around with if they had the time, but nothing really that serious. Even in today’s business climate, where individuals use social media on the daily in their personal lives, many companies put very little to no effort into their social pages, and believe that as long as they have a live Facebook page and an auto-populated Twitter timeline, that’s “good enough”.
But the statistics on the positive impact that dedicating real time, effort, and money into your social media marketing has on your business’s overall success are staggering. And when business leaders realize how much power rides on an effective social media strategy, they may see that hiring an intern with no experience (and likely for minimum wage or school credit) to manage their social channels may be a huge mistake.
Let’s take a look at some of the facts and figures:
33% of customers have identified social media as how they find out about new brands, products, and services.
If you’re struggling to gain traction in your area or in a highly competitive market, you’re missing out on getting on the radar of millions of new potential customers on social media. [Growth Gurus, 2019]
78% of sales professionals using social media outsell their peers.
Channels such as Facebook, Instagram, and LinkedIn can help sales people get out of the “cold call” phase and become a real person online, connecting to their prospects in an authentic way. And considering that the study that produced these statistics was held over 6 years ago, the numbers could only be higher at this point. [Forbes, 2013].
74% of consumers rely on social networks to help with their purchasing decisions.
In a world where consumers are advertised to thousands of times each day, it is crucial that we are able to cut through the noise and reach our audience. With social media, your brand can strongly influence customers to purchase from you vs. the competition. [Awario, 2019].
Social media advertising revenue is up to $98,247 million in 2019, and is expected to show an annual growth rate of 17.6%.
That’s a market volume of $187,633 million by 2023. Obviously, there is revenue to be made by putting time, money, and effort into your social media strategy and the professional managing it. [Statista, 2019].
Clearly, there is no room to undervalue social media in 2019 and beyond. It’s time for all business owners to realize that a part-time minimum wage social media management position isn’t the answer, and won’t bring their social media to new heights. Making a real offer to real social media professionals that really know their stuff can have huge impacts on your business’s success, and let’s face it: you truly can’t afford to avoid social media any longer.
Interested in learning more about social media and what we can do to kick yours up a notch? Schedule a free consultation.