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Social Media Facts for Business Owners

Social media can help you grow your business, build awareness of your brand, establish brand loyalty and connect with your customers. In 2023, customers almost expect your business to have some form of social media presence. But if you’re like many business owners, you may not know where to start or if there’s even a social media strategy that’s right for you.

However, every company – big or small – should be on social media. As Chelsea Janke, VP of Integrated Marketing puts it, social media is for everyone: 

“‘I can see how social media will work for <fill in the blank … a company not like mine>, but it certainly won’t work for MY type of business!’  I can’t tell you how many times I’ve heard a business owner say this, hoping that I’ll agree with them. The fact is, there are very few businesses that social media won’t work for.  If you want to get the attention of potential customers, you need to place yourself where your potential customers are spending the most time.

Whether it’s Facebook, Instagram, Twitter, YouTube or TikTok, your potential customer is spending a significant amount of time on social media. In fact, the average person spends up to 2 hours and 30 minutes on social media every day. Moreover, the average mobile phone user checks their phone 150 times each day. Regardless of your business or industry, if you haven’t started a social media marketing campaign, you’re missing out on potential customers.

As of 2023, 4.9 billion people across the world are on social media. But by 2027, this number is expected to grow to around 5.85 billion people. According to a recent Universal McCann study:

  • 71% of social media participants say they are more likely to purchase from a brand they follow online
  • 66% of social media participants note that participation with brands online has made them more loyal to those brands
  • 63% of social media participants state that they will recommend these brands to their friends and associates

With facts like these, how can your business afford NOT to be strategically using social media? If you’re interested in a social media strategy for your business, get in touch with the CEL team.

Published on: June 22, 2011