Social media is no longer just an option if you want your business to be competitive. According to recent 2021 research, 93% of marketers agree that social media has accelerated the competition in their respective industries. Brands are doubling down on social media but are finding that it’s more difficult to establish oneself as a market leader and grab attention, even though consumer social media usage is on the rise.
The Importance of Social Media for Businesses in 2021 
In this study, social marketers in the United States were polled regarding their objectives, difficulties, and prospects. Their answers were then compared with a broad sweep of the U.S population to learn their reasons and their methods for using social media in addition to their expectations from companies on various platforms.
According to the recently published statistics, social media is an important tool for businesses in order to gain a robust understanding of their consumers’ requirements, to differentiate their brand identity, and to develop their business advantage. Brand awareness, community engagement, and lead generation were listed as top priorities when businesses were asked about their social media goals.
When marketers were asked how they use social data:
- 58% understand my target audience
- 48% develop creative content
- 39% support other departments
- 32% analyze trends
- 29% assess campaign performance
- 26% foster connection with customers
- 25% report results internally
Although most businesses recognize the economic value that social media may provide, many find it difficult to evaluate and act on the potential. In fact, just 15% of marketers utilize social data to track ROI, with only 10% of them using it to make business choices. For many, social media is viewed solely as a resource for marketing.
Customer Trends on Social Media
Customers have become seasoned, savvy social media users with distinct expectation and desires for their interactions with brands. Unfortunately, many businesses have yet to maximize their social potential.
When consumers were asked about what makes a brand’s presence on social media “best in class”:
- 47% offer strong customer service
- 46% engage audience
- 44% transparency
- 39% memorable content
- 33% distinct personality
- 28% compelling story
By focusing on their relevance and responsiveness on social media, businesses can reap benefits for their entire organization. When consumers follow a brand on social media, they report that they will visit the brand’s website, buy from the brand, choose the brand over a competitor, buy from the brand more often, and recommend the brand to family and friends.
Consumers have an expectation that they will be see and understood by the brands they patronize, and they’re looking for positive interactions on social media.
When consumers were asked about what a brand could do that would get them to choose that brand over a competitor, the top answers included:
- Respond with timeliness to customer service inquiries
- Demonstrate an understanding of customer needs and wants
- Create culturally relevant and educational content
- Engage on social
When it comes to creating content, the strong perception is that image and video based-content is the most valuable for achieving social media goals, although a strong text post can also make a difference. Here’s how content was ranked:
- 54% video
- 53% image
- 30% text only
- 26% stories
- 25% live video
Overall, data from social media can provide valuable insights that allow brands to rise above the competition. Social data can reveal the strength of customer loyalty, reveal a competitor’s strengths and weaknesses in their offerings, highlight opportunities for differentiation, and demonstrate industry standards for customer service.
Does your business need to improve your social media strategy in order to remain competitive in this new business landscape? If so, our expert digital marketing team here at JXT Group can help! Find out more by calling 718-690-7302 or submitting our online contact form.
