Social Media Statistics 2020: Here’s why your business needs to be on social media

Does your business have a social media presence? If you answer no, let’s start with one simple fact: your business needs a social media presence.

It doesn’t matter if you run a small local shop or a big national company. Social media is an essential piece of your business marketing strategy.

Why, you ask? Well, social media platforms help you connect with your customers, increase awareness about your brand, and boost your leads and sales. With 3.81 billion people around the world using social media every month, it’s no passing trend.

Social Media Statistics - Top4 Marketing

In this post, we have compiled the ultimate list of social media statistics for you. Without further ado, let’s dive in:

  • 91% of users want brands to be authentic with their social media content
  • 89% of consumers say they will buy from a brand they follow on social media and 84% will choose that brand over a competitor.
  • 75% of consumers say they’ll increase their spending with brands they follow on social.
  • 57% of consumers will follow a brand on social media to learn about new products and services.
  • 47% of consumers follow brands to stay up to date on company news
  • 40% of consumers want to learn about promotions and discounts.
  • 44% of consumers also say customer service distinguishes a brand from its peers.
  • 40% of consumers expect brands to respond within the first hour of reaching out on social media, while 79% expect a response in the first 24 hours.
  • 54% of consumers welcome brand posts during sporting events.
  • Consumers are very uninterested in seeing brand posts during a natural disaster (14%).
  • One-third of Australian consumers agree that they will inspect a brand’s social media presence before making an online purchase if they have not purchased from their website before.
  • Among Australian consumers using Facebook and Instagram, 84% and 48% respectively claim to be following brands or businesses on those platforms. Females and those aged between 18 and 39 are above average in this behaviour.
  • 82% of Australian consumers following brands or businesses on social media are keen on accessing benefits like discounts (62%) and giveaways (47%) from them. SMBs who offer incentives (39%) are in tune with this, being most likely to offer discounts (67%) and giveaways (45%).
  • Over half of Australian consumers said they are more likely to trust brands if they interact positively with customers on social media (51%), make their content engaging and relevant (54%), and keep it regularly updated (53%). Among females and those aged 18-29 and 30-39, we find 60% or even more displayed such trust.
  • 23% of Australian consumers like sponsored posts from businesses they follow on social media. However, 53% agree that they ignore sponsored posts from businesses they don’t follow, with only 15% disagreeing.
  • 25% of Australian consumers share brand content they have noticed on social media. This is done by around one-third of those aged 18-39.
  • 37% of Australian consumers feel comfortable about having any of their content being posted on a brand channel. The older the person, the less likely they are to feel comfortable about this.
  • 43% of Australian consumers provide online ratings for a wide range of products or services, averaging seven in the last year. This incidence is higher for females and those aged 18-39.
  • Over two-thirds of Australian consumers (68%) read online reviews or blogs to find out what others think about products or services of interest. They, on average, reading seven reviews before making a purchase decision.
  • 42% of Australian consumers have posted online reviews or blogs on products and services or entertainment, averaging six in the last year.
  • If a business gets back to the consumer after they posted a bad review, 26% of Australian consumers said it would change their opinion of that business. Those aged 18-29 were above average in giving this response (39%).

Have we convinced you to start using social media for your business?

Here are some tips to get started:

 

1. Start with a plan

Social media platforms are easy to use and you can get started with organic posts for free. That might make it tempting to dive in and just start posting. But like every good business strategy, using social media for small business success needs to start with a good plan.

Social Media Marketing Plan - Top4 Marketing

Without a plan, you have no clear goal for what you’re trying to achieve. That means there’s no way to measure your results. Take the time to create a social media plan right up front. This ensures that all your social efforts support specific business goals.

 

2. Decide which platforms are right for you

Don’t make assumptions about where your audience spends their time online. Your instinct might tell you that if you’re targeting millennials, you should skip Facebook and focus on Instagram and Snapchat. But the data shows that 84% of millennials still use Facebook.

 

3. Know your audience

One reason using social media for business is so effective is that you can micro-target your audience. But first, you need to understand who your audience is.

Social Media Marketing - Top4 Marketing

Start by compiling data on your current customers. Then, dig deeper with social media analytics. You’ll start to develop a solid picture of who’s buying from and interacting with you online. 

Once you have a clear picture of who your audience is, you can revisit your social media plan. It’s time to look for ways to reach more people just like them.

 

4. Build relationships

The unique benefit of social media marketing for small business is that it allows you to talk directly to customers and followers. You can build relationships over time, rather than asking for a sale upfront.

As discussed in the statistics above, 57% of consumers will follow a brand on social media to learn about new products and services. Part of that discovery is getting to know who you are as a brand and what you stand for.

Social Media Engagements - Top4 Marketing

When people engage with your organic content or ads, it’s a great idea to engage back. This helps to build trust and form a loyal following. As fans share and like your content, you rise in the social algorithms and gain new, free, exposure. You also nurture relationships that can develop into sales over time.

Remember, over half of the Australian consumers said they are more likely to trust brands if they interact positively with customers on social media (51%), make their content engaging and relevant (54%), and keep it regularly updated (53%).

 

Social Media Marketing for Your Business

Now, we hope you understand that social media is vital for your business. However, we understand that not everyone has the time to update their social media profiles daily. Business owners, especially, would rather focus on running their business instead of being on social media. This is why we’re here to help you.

Social Media Statistics - Top4 Marketing

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