Social media influence has become an important part of online marketing. Online consumers are using social media more frequently before making purchase decisions. Check out our latest infographic “How Social Media Influence Businesses” to have a better understanding of the social media impact on your business and your marketing campaigns.
The Influence of Social Media Influence on Businesses in 2024
1. Increased Brand Awareness
- Stat: 92% of marketers report that social media has significantly increased their brand exposure in 2024.
- Trend: Platforms like TikTok, Instagram, and LinkedIn are being used more than ever to boost brand visibility and recognition.
2. Enhanced Customer Engagement
- Stat: 75% of businesses say that social media has helped them improve customer engagement and interaction.
- Trend: Interactive content such as live videos, polls, and Q&A sessions are driving higher levels of engagement on social media.
3. Growth in Sales and Revenue
- Stat: 80% of businesses using social media report a direct increase in sales.
- Trend: Social commerce, where users can purchase products directly through social media platforms, is becoming increasingly popular.
4. In-Depth Customer Insights
- Stat: 74% of companies use social media analytics to inform business decisions.
- Trend: Advanced analytics tools are providing deeper insights into customer preferences and behaviors.
5. Cost-Effective Marketing
- Stat: 50% of businesses report that social media marketing has reduced their overall marketing costs.
- Trend: Social media ads offer a high ROI, making them a cost-effective alternative to traditional advertising methods.
6. Increased Website Traffic
- Stat: 82% of marketers report that social media has increased website traffic.
- Trend: Effective use of social media to share content and links is driving more visitors to company websites.
7. Improved Customer Loyalty and Retention
- Stat: 73% of consumers are more likely to recommend a brand they follow on social media.
- Trend: Consistent engagement and quality content on social media platforms foster customer loyalty.
8. Effective Influencer Marketing
- Stat: 65% of businesses report a higher ROI from influencer marketing campaigns.
- Trend: Collaborations with influencers continue to be an effective strategy for reaching targeted audiences.
9. Expanding Global Reach
- Stat: Social media platforms now have over 4.5 billion active users worldwide.
- Trend: Social media enables businesses to reach international markets and diverse audiences.
10. Crisis Management and Communication
- Stat: 70% of businesses use social media for managing crises and maintaining public relations.
Trend: Immediate and transparent communication via social media influence helps businesses manage their reputation during crises.
Read More: Social Media Trends in 2024
Impact of Marketing Trends on Social Media Influence:
How does Social Media Influence On Businesses?
27% of total online time is spent on social networking.
85% of internet users have Facebook accounts; 49% have Twitter accounts.
84% of online shoppers use social media sites.
Average Number Of Connections Per User
| Social Media Site | Average connection |
| 141.5 | |
| 208 |
Social media produces almost double the marketing leads when compared to trade shows, telemarketing, direct mail, and PPC.
Social media lead conversion rates are 13% higher than the average lead conversion rate.
Percentage Of Marketers Who Found Customers Via Social Networking Sites In 2013
| Social Media Sites | %age |
| 52% | |
| 43% | |
| 36% |
More than 50% of marketers believe that social media has helped them improve sales.
60% of online consumers follow or give feedback to brands on social media sites.
Percentage of Companies (Listed By Industry) That Acquired Customers from Social Media Influence on Business Sites
| Industry | |||
| Retail/Wholesale/Consumer Goods | 73% | 19% | 40% |
| Technology (hardware) | 45% | 44% | 50% |
| Marketing Agency | 45% | 58% | 35% |
| Professional Services/consulting | 43% | 56% | 30% |
| Technology (software) | 39% | 50% | 40% |
| Banking/Insurance/Financial Services | 33% | 38% | 28% |
How does Social Media Influence Purchasing Decisions?
| Reasons | %age |
| Influenced by social media posts from friends | 81% |
| Liked the social media page of the company for discounts and offers | 79% |
| Made purchases based on the company’s social media posts | 78% |
| Researched social networks before making a purchasing decision | 74% |
| Likely to make a purchase based on social media referrals | 71% |
| Twitter users tweeted product or company recommendations | 53% |
How Marketers Are Using Social Media Influence Sites?
| Main Reasons | %age |
| Generating business exposure | 89% |
| Increasing traffic | 75% |
| Gaining marketplace intelligence | 69% |
| Building a loyal fan base | 65% |
| Generating leads | 61% |
| Reducing marketing expenses | 47% |
| Improving sales | 43% |
