What's the Impact of Social Media Marketing

and How's It Changing Your Business?

Interested in delving into the social media market, but you’re not sure what exactly it’s going to do for your business? Well, then we have the statistics for you! Down below, we’ve broken down the impact of social media marketing and how it can go about making positive changes for your business! There’s also an introduction at the very end on a tool that we think can help you with your influencer campaigns. So, make sure to stick around until the very end!

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Part 1. What's the Impact of Social Media Marketing?

Straight off the bat, we’re going to be talking about the impact of social media marketing on your business. For this, we’ve looked into a couple of relevant statistics that we think that you might be interested in. Of course, it’s going to be a mixed bag. There are some things that might make you shy away from social media marketing and there are things that might make you want to you jump into fray immediately – that’s just the nature of marketing.

Either way, there is an obvious impact on a company’s standing or brand authority after delving into the market. It is, after all, where most people this day and age spend a lot of their time. And, it can be your way of connecting to said people and introducing them to the product or service that you’re pushing out.

1. 3.2 Billion Potential Customers Everyday

When we say most people, we do mean most people. Today, tomorrow, the next day, etc. You can expect around 3.2 billion people using social media. Overall, there are 4.2 billion unique social media users -- that’s more than the world’s total population! And any of these people can be your next customer and it starts as soon as you open up a social media account and start engaging with the world.

2. 37% of Consumers Find Purchase Inspiration Through Social Media

When we say most people, we do mean most people. Today, tomorrow, the next day, etc. You can expect around 3.2 billion people using social media. Overall, there are 4.2 billion unique social media users -- that’s more than the world’s total population! And any of these people can be your next customer and it starts as soon as you open up a social media account and start engaging with the world.

source: https://www.pwc.com/gx/en/retail-consumer/assets/consumer-trust-global-consumer-insights-survey.pdf

3. As of 2018 Instagram Videos Get 21.2% More Interactions than Regular Posts

If you want to take on Instagram for your first social media platform, then you might want to invest some time in creating Instagram videos. Because, as of 2018, videos are receiving more hits and clicks (around 21.2% more interactions - to be specific) than regular posts. Of course, if you’re considering this from a business perspective. Videos are definitely going to be your best bet. Especially if you’re planning on paid promotion on your posts. With that, you might see your profile growing more than you’d think!

source: https://sproutsocial.com/insights/social-media-statistics/

4. With 326 Million Active Users Per Month, Twitter is a Rising Social Network

Although many seem to put Twitter aside as far as social networks go. It is a pretty large platform, averaging at around 325 million active users per month. And, in the first quarter of 2018, it was reported to have earned a total of $665 million in revenue -- a number that increases but 20% each year. Now, with that in mind, although it might not be the best for all businesses. Twitter could potentially help you grow your brand. Especially if your product or service appeals to millennials and the gen z generation -- both of which are the most frequent users on Twitter to date.

source: https://www.omnicoreagency.com/twitter-statistics/

5. Looking for Lead Conversions? LinkedIn Might Be It for You

Another underappreciated network is LinkedIn! It’s a platform with a very specific audience. But, again, if you have a product that suits the heavy adult/professional user-base then this might just be the network for you! As of right now, it has around 260 million active users per month. And! It outperforms Facebook and Twitter in the generation of lead conversions (around 277% better, in fact.)

source: https://www.omnicoreagency.com/linkedin-statistics/

6. User-Generated Content Might Increase Your Sales

Around 50% of today’s consumers appreciate the authenticity of user-generated content. So, even if it might seem more professional to produce professionally rendered videos and photographs, the public trusts brands who offer content that seem a little more real. Thus, leading them to buy more products that you promote through social media!

source: http://pages.curalate.com/rs/496-DAU-231/images/Curalate_Consumer-Survey_Nov17_V4.pdf

7. 49% of Consumers Say Quicker Payment Systems Will Increase Their Online Spending

Want to know what might be keeping your business back from making the sales that it deserves? Well, it might just be the payment systems that you’re offering (or the lack of variety in them.) Getting a consumer into the door is difficult, so make sure that you make it as easy as possible for them to actually buy the product! Because half of them might very well walk off if you don’t offer convenient payment systems like Amazon Pay, PayPal, etc.

8. 45% of Consumers Look to Social Media for Answers

If you want traffic to come your way, then try to offer answers or solutions. 45% of consumers look to social media whenever they have questions or issues. And, if you can solve their problems for them? Well, then you can bet that they are going to be more likely to stick around or even share that content to their friends and family. Which is exactly what you need in order to start growing your brand’s social media profile.

9. When Relevant, Make Sure Someone Is There to Answer Questions

In the same vein of consideration that we mentioned just now. If you’re a big business and you find customers looking for answers constantly? Then you’re going to need to offer some customer service. As mentioned, they’re more likely to ask questions there than on any website or forum and being helpful might just be the thing that can get you the leads that you need to break into the social media market.

10. Spend Money to Increase Your Visibility and Get Traffic

There’s no denying it anymore, if you want to make money through social media, then you’re going to have to spend money to earn it. Or so 70% of marketers claim after taking a look at their traffic after having spent money on social media advertising. There’s a reason paid promotion is available on known social media platforms, after all, and it's up to you to take advantage of it.

Part 2. What's the Impact of Social Media Influencers?

For the next portion of this article, we’re going to be discussing something that is a little more specific. That is, the impact of social media influencers on a brand! In this case, rather than trying to create your own audience. You’re going to tap into someone else’s audience (someone with authority in the same industry as you) to get more people to take notice of your product.

As of now, this is one of the best ways of marketing products on social media, and it's available for anyone! All you need to do is connect to an influencer with an active social media following. Continue reading down below if you want to learn how to do this, and why you might want to do it.

1. Every Dollar Spent on Social Media Influencer Marketing Can Earn You Up to $5.20 in Media Value

As of 2018, the total media value of every dollar spent on social media influencer marketing has raised up to $5.20 on average -- with some of the more experienced marketers able to milk out up to $18. There’s no denying that influencer marketing is bringing in some major returns, and the value of it is likely to continue going up and up as the years pass.

2. Around 86% of Women Consumers Look to Social Media Influencers to Figure Out What to Buy

These days, a lot of people look to their favorite influencers in order to decide what to buy. This is especially true for women. 86% of whom decide whether they’re going to buy a product or subscribe to a service after looking to their favorite social media influencers. They give the opinions of their favorite content creators a lot of weight. So, any recommendation for them would be a real nail in the coffin.

3. Ads Are Being Blocked Everyday

With sophisticated ad-blocking technology, your well-placed ads may never reach your customers. In fact, around 40% of consumers these days use ad-blockers regularly on their PCs. That goes the same for phones and tablets. As you can imagine, this can definitely hinder the number of impressions that you get, which is why so many have been looking into the potential of influencer marketing.

4. Marketers Are Finding That Influencer Marketing Ranges from Effective to Very Effective

It’s only up and up with influencer marketing, with over 92% of marketers reporting that their campaigns have been very effective at generating leads! Of course, that doesn’t mean that it’s bulletproof. However, it’s pretty close to being so! Especially if you’re careful about your influencer choices.

5. Consumers Ages 18-34 Make Large Purchases After Seeing their Favorite Influencer Endorse a Product

We’ve come to a point where even larger products, that can go up to hundreds or even thousands of dollars, are purchased by almost a quarter (22% to be exact) of consumers from ages 18-34. They don’t even have to be interested or looking for this product to buy it! So long as their favorite influencer recommends it? They’re going to buy it!

6. Influencers Increase Purchase Intent on Twitter

If you have an active Twitter profile for your business, then you can expect a 2.7 times increase in purchase intent (with each tweet.) That’s not a bad number. However, it is totally trumped by the reach of an influencer -- who, in most cases, can increase purchase intent 5.2 times!

7. Micro-Influencers Have More Reach Than You Think

Although there are some influencer marketers that stand by the top-selling influencers. There is more to micro-influencers than you’d think! More often than not, even though they have lower followings, their engagement rates are higher. This is because their topic of authority is very specific. Allowing them to reach an audience that may or may not enjoy the broader topic than some of the bigger content creators provide. In fact, in general, micro-influencers have engagement rates that are 60% higher than influencers with larger followings.

Part 3. Find a Social Media Influencer for Your Business

As promised, we’re going to be ending things off with a bang by introducing you to a tool that you can use in order to start up your social media influencer marketing! The tool that we’re going to be using to demonstrate the process is called InflueNex and it’s a YouTube influencer search engine! With this search engine, you can discover influencers and micro-influencers that can endorse your products/service and generate leads for traffic and sales! Learn how easy it is down below, or try it out for FREE by going to InflueNex’s Main website.

How to Use InflueNex to Find Social Media Influencers

Step 1. Find Influencers to Endorse Your Product

The first step in finding YouTube creators to endorse your product is to make use of the search bar that InflueNex offers. On it, you can enter keywords (broader searches) and channel names (specific influencer searches.)

What's the Impact of Social Media Influencers - Find Influencers with Keywords

Step 2. Use Advanced Filters to Find Right Influencers

Next, InflueNex offers filters that you can use to narrow your search further! These filters can help you find influencers based on their niche, their country, their language, their number of subscribers, their working rate, etc.

What's the Impact of Social Media Influencers - Use Advanced Filters to Make the Search More Accurate

Step 3. Hit Search Button to Start Searching Influencers

Once you’ve filled in the search bar and selected relevant filters, all you need to do is click the Search button! InflueNex will do the rest and come up with a list of YouTube creators that match the criteria that you provided.

What's the Impact of Social Media Influencers - Hit Search Button

Step 4. Sort List and Select Potential Candidates

If you want to make the process of choosing the best YouTube creator, take advantage of the Sort By drop-down menu. This can organize the list based on the influencer’s ranking on InflueNex (InflueNex score), their number of subscribers (Subscribers), etc. Once you’ve found an influencer that fits your needs, select him/her from the list to continue.

What's the Impact of Social Media Influencers - Find the Influencer You Need

Step 5. Review Analytics and Send Invite

InflueNex makes the decision to hire influencers very easy by offering detailed analytics! You can view all of this on the influencer’s dashboard! InflueNex also offers a convenient method of contacting an influencer through their Send Invite feature (found on the top right-hand side of the dashboard interface!)

What's the Impact of Social Media Influencers - Contact the Influencer

Conclusion:

Social media marketing is the newest and biggest form of marketing out there and all statistics point to a dramatic positive when it comes to how it can affect your business! And there’s no better time to start than today! Try it out for yourself, see what kind of influencers you can find in your nice! We’ve already set up the plate for you by introducing you to InflueNex -- which is the best tool for finding influencers to endorse your product. So, make the most of it, and see how influencer marketing can change your brand!

Written by Christine Smith on the Sep 03,2019 15:24 pm
Resource > Other Influencer Marketing Tips > What's the Impact of Social Media Marketing and How's It Changing Your Business
Influencer Marketing
1. YouTube Monetization 1.1 How to Cooperate with YouTubes 1.2 How to Become a YouTube Influencer 1.3 Handle Your Ecommerce on YouTube 1.4 Monetize YouTube Videos 1.5 Optimize Your YouTube Channel 1.6 YouTube Sponsorship 2. Top Influencers 2.1 Top Social Media Influencers 2.2 Top YouTube Influencers 2.3 Great Social Media Influencer 3. Helpful Influencer Platforms 3.1 Helpful Influencer Marketing Platforms 3.2 Helpful Social Media Influencer Agencies 3.3 Helpful Influencer Management Platforms 3.4 Helpful Influencer Database 3.5 Best Influencer Marketplace 3.6 Top Useful Micro Influencer Platforms 4. Influencer Marketing Tools 4.1 Best Social Media Marketing Tools 4.2 Helpful Influencer Marketing Websites 4.3 Why Do You Need an Influencer Marketing Platform 4.4 Useful Influencer Network Services 4.5 Helpful Influencer Marketing Software 4.6 Helpful Influencer Searching Engine 4.7 Helpful Social Media Influencer Agencies 4.8 Best Influencer Marketing Hub 5. Influencer Marketing Tips 5.1 Best Social Media Marketing Examples 5.2 Top Influencer Marketing Tips 5.3 Latest Influencer Marketing Trend 5.4 Helpful YouTube Marketing Tips 5.5 Top Online Marketing Strategies 5.6 Helpful Social Media Marketing Tips 5.7 Successful Influencer Marketing Examples 5.8 Influencer Marketing Tips for Dummies 5.9 Facts about Influencer Marketing 5.10 Influencer Marketing Theory 6. Influencer Marketing Research 6.1 Influencer Effect Tracking 6.2 Influencer Marketing Statistics 6.3 Social Media Marketing Strategies 6.4 How to Do Influencer Marketing Research 6.5 Influencer Marketing Research Efficiently 7. Tell Fake Influencers 7.1 Check Fake Social Media Accounts 7.2 Spot Fake Influencers 7.3 Tell Fake Instagram Influencers 8. Competitors 8.1 Best Alternatives to Klear 8.2 Helpful Alternatives to Deep Social 8.3 Hootsuite Review and Its Best Alternatives 8.4 Use Klout to Find Influencers 8.5 HypeAuditor Review and Its Best Alternatives 8.6 Best Alternatives to Scrunch 8.7 Social Bakers Review and Its Best Competitors 8.8 Tribe Influencer Review and Its Best Alternatives 8.9 What is Klout Score 8.10 What's Social Blade and Best Alternatives to It 9. Other Tips & Tricks 9.1 Digital Influencers 9.2 Use Online Video Marketing to Promote Your Business 9.3 Measure Social Media Impact with Several Ways 9.4 Impact of Social Media Marketing 9.5 Know Your YouTube Audience Demographics 9.6 Different Types of YouTube Content