Impact of Social Media on ROI generation for Business
Businesses are becoming more and more active and engaging on social media. And as they are engaging more and more with their prospects and consumers, translating “likes”, “follows” and “pins” into sales generation becomes much stronger priority. While businesses can see their metrics to count upon their performance on social media, the area that needs to be focused at the end of the day is impact of social media on commerce.
We all have realized that ecommerce and social media both are big and impactful thus, if we combine and use them in integration, you may imagine the outcome. In fact you are experiencing it. Not every eCommerce site is running video ads on television and not every brand is placing big hoardings on highways and busy roads but majority of the brands and SMBs are present on web through several platforms like banner and display ads, email marketing, social media platforms and various others.
For instance, we all know ecommerce brands like Koovs, Stalk Buy Love, Limeroad, and many others. And the reason behind their brand recognition is digital marketing and primarily social media marketing. They populated there brands across all platforms to create awareness, reach their audience, gain traffic and generating business.
Below are some stats that will show you how social media is influencing businesses:
• Social media is the top online activity across globe with total hours spent online via PCs, laptops, mobiles, and tablets were 6.15 in 2014. One of the drivers of this is still-increasing levels of engagement with social networks, which reached to an average of 1.72 hours.
• 46% of web users look towards social media when making a purchase.
• The top brands rapidly adopted social media in their marketing plans. Here’s the breakdown- 99% on Facebook, 97% on Twitter, 70% on Google+, 69% on Pinterest, and 59% on Instagram.
• SMBs Gaining Business: 8 out of 10 SMBs use social media for their business to drive growth. And 3 in 5 SMBs said they have gained new customers by using social media.
• B2B marketers moved towards social media: 83% B2B marketers invest in social media to increase brand exposure, 69% to increase web traffic,65% to gain market insights.
• B2C brands gaining customers: 70% of B2C marketers have acquired customers through Facebook.
• Photos are the winning content in attracting audience: Out of total content shared by businesses on social
media 75% are photos, 10% are links, 6% are status, 4% are albums, 4% are videos, and remaining 1% are other.
• Sentiments of user interaction with brands on social media: Major audience showed positive sentiments towards brands. The breakdown is as follows- 49% on Facebook, 53% on Google+ and 55% on Twitter.
• Pinterest and Instagram are the dark horses: 83.8% of luxury brands have a presence on Pinterest, 41% of brands post 1 or more photos per week on Instagram accounts. Know which platform is most suitable for your business type Pinterest or Instagram.
Read: Social Media workout
Going through all the above stats it is clear that both small and large businesses are realizing the influence borne by social media influencers on public opinion. These opinions and favourable sentiments helps business gain customers and growth, so it comes no surprise then that businesses look for these influencers on various social media platforms and entice them through various offers and get reviewed.
Read: Media buying agency
Social media isn’t going anywhere and businesses now realize that if they wish to earn good returns they need to reach their prospects and customers. For that their presence on social media sites is a foundation of their overall marketing strategy and success of their business.