Social media plays a huge role in modern society. According to the Pew Research Center, 72% of all Americans use some form of social media. It is practically omnipresent. So, many businesses are turning to social media as an important marketing channel.
The Impact of Recommendations
One of the most substantial impacts of social media is the opportunity to get recommendations from influencers and friends. HubSpot’s data suggests that millennials are 71% more likely to purchase based on social media referrals.
User-Generated Content
Another key factor is the opportunity for multi-sided marketing. Brands can leverage the content that their users created to promote their products. This can be in the form of fashion photography, art contests and other such events. Social media provides tools to turn customers into brand evangelists.
If your business isn’t leveraging social media, you may be missing out. Learn more about how social can drive sales.
