Over the years, advertising has adapted to many forms of communication. Examples consist of radio, T.V., magazines, blogs, etc., the most recent being social media. Social media has become a vital accessory to the business industry with online sales promotions, social media influencers, video advertising, and more.
Let’s discuss social media’s sales tactics and its impact on advertising in the business world.
Exponential Growth of Online Sales.
It is no secret that social media advertising increasingly boosts online sales numbers. According to a study conducted by Digital Commerce 360, U.S. e-commerce grew 14.2% in 2021 and an additional 6.7% in Q1 of 2022. Advertising on social media creates more business exposure, causing more interaction and product sales. Another study conducted by ViSenze found that 75% of consumers are inspired to purchase by image and video content seen on social media. Ignoring these numbers means missing out on thousands of possible sales!
Impact of Influencer Marketing.
Social media influencers have taken advertising to a whole new level. Social media influencers partner with brands by promoting the company’s products to their followers in return for payment. According to a study by MediaKix, 17% of companies spent more than half of their marketing budget on influencer marketing in 2019, and 18% of companies will spend between $100,000 and $500,000 per year solely on influencer campaigns. The two main reasons a person will follow an influencer are that they either want to look like that person or act like that person, and this means the influencer’s followers will most likely purchase products if the influencer uses them.
Video Advertising on Social Media.
Before social media grew popular, T.V. commercials were the standard form of video advertising. Although this is effective, it is costly. A business has to purchase the means for creating the advertisement and the air time. It is also difficult to change a T.V. ad, so if the issue is significant, it may be cause for a reshoot of the entire advertisement. Video advertising on social media comes at no extra cost! The video can be posted freely, with no restrictions, and shared by friends, family, and followers to create more traction. Also, social media ads may have links, which means the customer can be taken directly to the company’s website to purchase the product.
Social media advertising has repeatedly proved its importance and effectiveness over the recent years. Putting effort into those social media accounts could advance your business to the next level of success. We hope reading this article was helpful to you! If you have any questions or need assistance with social media advertising, please get in touch with us here!