Social media is one of the fastest-growing industries with new social media sites being released regularly. According to a Statista report, social media has grown from 2.8 BILLION users in 2017 to now 3.6 BILLION users in 2020 (yes — that’s billion with a ‘b’). They’re projecting this number to almost double from 2017 to 4.41 billion users in 2025. With 7.7 billion people in the world, that means almost one in two people currently use social media.
By giving your business a space on the most widely-used social media platforms — like Facebook, Instagram, or Twitter — you’re giving your business another avenue to connect with potential customers, engage with current customers, and drive more sales through your business. There are a few reasons why your business should start building your social media presence now and why you’ll be left out if you don’t jump in.
Boost Your Engagement
A large part of a business is creating a community with your customers and engaging with them on a regular basis. How you engage with your customer base is up to your marketing team but they’d be a fool to not harness the power that social media has. Take in these statistics about Instagram users:
- Instagram, brands enjoy regular engagement with 4 percent of their total followers. On networks like Facebook and Twitter, engagement is less than 0.1 percent. (source: Forrester)
- 70% of Instagram users report having looked up a brand on the platform (source: Iconosquare)
- 62% of users follow a brand on Instagram (source: Iconosquare)
- Only 36 percent of marketers use Instagram, compared to 93% of marketers who use Facebook (source: Selfstartr)
While each individual has their preference for social media platforms, Instagram has proven time and time again that it outshines its competition when it comes to engagement. My suggestion to you: if you only start with one platform, get started on Instagram right away.
Grow Your Following with Ease
While it may be disheartening to learn an average of only 21% of users across platforms follow brands, the engagement rates of those followers are incredible. About two-fifths of people have said they have engaged with brands on social media due to negative issues but it’s not the main reason people are engaging with brands online. However, about 6 in 10 people have contacted a brand online to tell of a great experience they have had.
While it should go without saying, a response should be given to a customer whether the feedback is negative or positive. By doing so, you are inspiring customer loyalty and possible positive customer recommendations.
We know that social media strongly influences purchase decisions, even if that is at the subconscious level of the consumer decision-making process.
Just so we’re all clear, a lead is any piece of information that you can get a customer to give to you in order to be able to follow up with them. That includes names, email addresses, occupations, employers, or any other information that a social media user shares with you.
Since Instagram tends to have the best engagement across platforms, it is typically the best to generate leads. Marketers often find the platform to become a great asset in their sales funnel with about 80% of users have used Instagram to help decide if they should buy an item. Taking simple steps — such as adding relevant links in your bio or running Instagram ads through the Facebook platform — can point to an increase in not only new leads but hot leads for your business.
Don’t Lose Your Spot
In July of 2017, Instagram hit 25 million users on its platform with nearly 71% of United States businesses on the platform. More recently in May 2020, Instagram continues to support small businesses on its platform making it a great place for small businesses and startups to begin their social media following. Even with 71% of US businesses on Instagram, you can count on not nearly that amount actually using Instagram to its full potential or using the platform well.
So get started today! With the amount of potential customers on Instagram, now is the time for you to start sharing your business on Instagram.