Summary
- • 74% of consumers rely on social media to guide purchasing decisions
- • 71% of consumers who have had a positive experience with a brand on social media are likely to recommend it to others
- • 54% of social browsers use social media to research products
- • 49% of consumers depend on influencer recommendations on social media
- • 78% of consumers are willing to buy from a company after having a positive experience with them on social media
- • Social media advertising budgets have doubled worldwide over the past 2 years—going from $32 billion to $69 billion
- • The average ROI of social media advertising is 95%
- • Social media ads have an average conversion rate of 9.21%
- • Facebook ads have an average click-through rate (CTR) of 0.89%
- • Instagram ads have an average engagement rate of 0.67%
- • Social media marketing has a 100% higher lead-to-close rate than outbound marketing
- • 66% of marketers have seen lead generation benefits with social media by spending as little as 6 hours per week
- • LinkedIn is 277% more effective for lead generation than Facebook and Twitter
- • Twitter is 40% more effective at driving leads than Facebook
- • B2B companies that blogged 11+ times per month had almost 3X more traffic than those blogging 0-1 times per month
Move over diamonds, social media is a consumers new best friend! With 74% relying on social media for purchasing decisions and a 95% average ROI on social media advertising, businesses are diving headfirst into the digital marketplace. From the 54% who research products on social media to the 80% who mention brands in tweets, the statistics speak louder than the like button. So, grab your smartphone and join the social media frenzy because the numbers dont lie—social media is where the magic (and money) happens!
Advertising ROI
- Social media advertising budgets have doubled worldwide over the past 2 years—going from $32 billion to $69 billion
- The average ROI of social media advertising is 95%
- Social media ads have an average conversion rate of 9.21%
- Facebook ads have an average click-through rate (CTR) of 0.89%
- Instagram ads have an average engagement rate of 0.67%
- Facebook ads reach 2.14 billion people
- The average Facebook ad click-through rate across all industries is 0.90%
- Instagram ads reach 1.16 billion people
- The average Instagram engagement rate is 1.22% across all industries
- LinkedIn ads reach 740 million professionals
Interpretation
In a world where social media advertising budgets have fattened up quicker than a Thanksgiving turkey on Black Friday, the ROI statistics are the juicy gravy that keeps the feast going. With a double-the-fun budget increase in just two years, brands must be feeling as confident as a cat in a sunbeam. At an average ROI of 95%, it's clear that social media ads are the golden geese of advertising, with a conversion rate that could make a snake oil salesman blush. With Facebook and Instagram leading the charge, reaching billions of eyeballs and boasting click-through rates higher than a squirrel on a tree, it's no wonder that LinkedIn is the new watercooler for 740 million professionals. So, while these numbers may be just a snapshot in the never-ending scroll of social media, one thing is certain: in the world of digital advertising, the ROI game is strong, and the 'likes' are ever in your favor.
Brand Awareness
- 90% of marketers say social media marketing has increased exposure for their business
- 83% of Instagram users say they discover new products and services on the platform
- 60% of Instagram users say they discover new products on the platform
- Twitter users are 3 times as likely as Facebook users to follow a brand
- 80% of Twitter users have mentioned a brand in a Tweet
- 60% of Instagram users say they discover new products on the platform
- 91% of social media users access social channels via mobile devices
- Facebook is the primary content distribution channel for marketers today
- Twitter users are 3 times as likely as Facebook users to follow a brand
- 85% of marketers say that social media marketing has increased their business exposure
Interpretation
In a world where likes and shares reign supreme, social media ROI statistics serve as the currency of the digital age. With 90% of marketers experiencing a boost in business exposure thanks to the power of social platforms, it's clear that the game has changed. Instagram emerges as a veritable marketplace, with 83% of users stumbling upon new products and services, while Twitter users are the loyal followers brands crave. As we scroll through our feeds on our beloved mobile devices, it's evident that social media is not just a channel but a way of life. So next time you tweet about your favorite brand or discover a must-have product on Instagram, remember, in the realm of ROI, engagement is the new black.
Consumer Behavior
- 74% of consumers rely on social media to guide purchasing decisions
- 71% of consumers who have had a positive experience with a brand on social media are likely to recommend it to others
- 54% of social browsers use social media to research products
- 49% of consumers depend on influencer recommendations on social media
- 78% of consumers are willing to buy from a company after having a positive experience with them on social media
- Social media users have grown by 328 million in the past 12 months
- The average person spends 2 hours and 24 minutes per day on social media
- 4.48 billion people currently use social media worldwide
- 90% of Instagram users follow at least one business
- 80% of Twitter users have mentioned a brand in their tweets
Interpretation
In a world where social media reigns supreme, the numbers speak volumes: with 74% of consumers turning to platforms like Instagram and Twitter for guidance on purchases, brands must navigate these digital landscapes with finesse. A positive experience can lead to a domino effect of recommendations, with 71% of satisfied customers likely to sing a brand's praises. With over 4 billion people worldwide connected through social media, the power of influence cannot be underestimated, as nearly half of consumers rely on recommendations from influencers. In this era of endless scrolling and fleeting attention spans, companies must seize the opportunity to make a memorable impression, as nearly 80% of consumers are willing to make a purchase after a positive interaction. So as the social media-sphere continues to expand and evolve, brands must adapt and position themselves strategically to stand out in the digital crowd.
Cost Efficiency
- Social media marketing has reduced marketing expenses for 45% of businesses
- The average cost per lead drops 80% when using social media marketing
- Social media advertising costs 1/3 as much as traditional advertising
- The average cost per click for Facebook ads across all industries is $1.72
- The average cost per thousand impressions (CPM) for Instagram ads is $7.91
- The average cost per lead drops 80% when using social media marketing
- Social media advertising costs 1/3 as much as traditional advertising
- The average cost per click for Facebook ads across all industries is $1.72
- The average cost per thousand impressions (CPM) for Instagram ads is $7.91
- LinkedIn advertising costs an average of $5.26 per click
Interpretation
In a world where numbers speak louder than words, these statistics paint a vivid picture of the power of social media marketing in the realm of return on investment. With marketing expenses reduced for nearly half of businesses and the average cost per lead dropping by a whopping 80%, it's clear that the digital landscape has forever altered the marketing game. Social media advertising emerges as the cost-effective hero, with Facebook ads costing a mere $1.72 per click and Instagram ads garnering attention for just under $8 per thousand impressions. LinkedIn joins the fray with its respectable $5.26 per click rate, showcasing that in the battle of the marketing budgets, social media is undoubtedly a formidable contender.
Lead Generation
- Social media marketing has a 100% higher lead-to-close rate than outbound marketing
- 66% of marketers have seen lead generation benefits with social media by spending as little as 6 hours per week
- LinkedIn is 277% more effective for lead generation than Facebook and Twitter
- Twitter is 40% more effective at driving leads than Facebook
- B2B companies that blogged 11+ times per month had almost 3X more traffic than those blogging 0-1 times per month
- Social media generates 2X more leads than trade shows, telemarketing, direct mail, or PPC campaigns
- LinkedIn is responsible for 80% of B2B leads from social media
- 41% of B2B marketers say LinkedIn is the most effective channel for lead generation
- Twitter is 40% more effective at driving leads than Facebook
- 70% of B2B marketers have acquired customers through Facebook
Interpretation
In the cutthroat world of marketing, these statistics paint a clear picture: social media is not just a trendy buzzword, but a powerhouse tool for lead generation and customer acquisition. With a lead-to-close rate 100% higher than outbound marketing, spending a mere 6 hours a week can yield significant benefits. LinkedIn emerges as the unsung hero, trumping Facebook and Twitter in lead generation effectiveness by wide margins. B2B companies that embrace blogging enjoy a traffic surge, underscoring the importance of content in the online realm. Trade shows and telemarketing, traditional stalwarts of marketing, pale in comparison to the lead-generating prowess of social media. In this digital age, the message is clear: adapt or get left behind.
Marketing Effectiveness
- 73% of marketers believe that their efforts through social media marketing have been 'somewhat effective' or 'very effective' for their business
- 91% of all social media users access social channels via mobile devices
- Facebook ads reach 1.95 billion of the 2.5 billion monthly active users
- LinkedIn's ad reach grew by 25 million people in Q4 2020
- Pinterest has a 2.3x higher ROI than traditional media advertising
Interpretation
In a digital age where attention spans are shorter than ever, the numbers don't lie. With 73% of marketers seeing success through social media, it's clear that embracing this landscape is not just an option, but a necessity for businesses looking to thrive. As 91% of social media users prefer the convenience of mobile access, it's no surprise that platforms like Facebook and LinkedIn continue to expand their reach with targeted advertising. With Facebook alone reaching a staggering 1.95 billion users, it's evident that the potential for engagement is vast. And let's not overlook the rising star of Pinterest, boasting a ROI that eclipses traditional media advertising. In this fast-paced digital arena, the power of social media as a marketing tool is undeniable, and those who ignore its impact do so at their own peril.
Sales Conversion
- Social media has a 100% higher lead-to-close rate than outbound marketing
- 78% of salespeople using social media outsell their peers
- 51% of marketers say social media has improved their company's sales
- Companies with social media plans in place are 88% more likely to be successful with their sales
- Social media produces almost double the marketing leads of trade shows, telemarketing, direct mail, or PPC
- 72% of Instagram users have purchased a product they saw on the app
- 54% of social browsers use social media to research products
- 30% of consumers say they would make purchases through Pinterest, Instagram, Twitter or Snapchat
- 71% of consumers who have had a positive experience with a brand on social media are likely to recommend it to others
- 50% of consumers say that seeing user-generated content would increase their chances of buying products through a brand's social media
Interpretation
In a world where social media reigns supreme, the numbers speak for themselves: from boasting a lead-to-close rate twice as high as outbound marketing to fueling a sales success rate of 78% for savvy salespeople. With 51% of marketers touting its ability to elevate sales and companies strategically armed with social media plans significantly increasing their likelihood of success by 88%, it's clear that the power of social media cannot be ignored. As if that wasn't convincing enough, consider that social media generates almost double the leads of traditional marketing avenues and pushes consumers to make purchases with a mere swipe on Instagram, Pinterest, Twitter, or Snapchat. The stakes are high on the social media stage, where positive brand experiences can translate to glowing recommendations from 71% of consumers and user-generated content holds the key to capturing the hearts (and wallets) of half the online shopping population. In this digital age, mastering the art of social media is not just an option; it's a necessity for those looking to stay ahead in the game of sales and brand success.