Social media has awesome benefits for your business. You can use it to build a loyal customer base who love your brand, leave great reviews, and recommend you to friends. But don’t take my word for it. Just ask the numbers.

4.55 billion people are on social media worldwide and people spend an average of 2 hours and 38 minutes on it daily. It’s definitely the place to be, but we’ve got some more statistics on just why it matters.

1. Social Media lets you introduce your brand to new consumers

“55% of consumers learn about new brands through social media”

More and more people are learning about new brands through social media. In fact, 55% of consumers learn about new brands through social media (Sprout Social). This is especially true amongst Gen Z and millennials, with 78% and 61% of them learning about new brands through social media. (56% of Gen X and 38% of Baby Boomers also use social media for this purpose). So if you’re looking for new customers, social media is a great place to be!

2. Increase revenue

Did you know that 78% of all consumers are willing to buy from a company after having a positive experience with them on social media? By posting engaging, high quality content that your followers appreciate, you’re not just promoting your brand, you’re building relationships with your customers that can last for years to come if managed properly.

3. Gain Valuable Insights

“72% of top business executives are already using social data to inform business decisions”

Social media is not just a great way to connect with existing and new customers. It’s also a great way to learn about them. By using various analytics tools, you can learn what your customers are saying about your brand, what they like and don’t like, where they are located, their interests, e.t.c. This allows you to make better business decisions and frame other aspects of your business to better serve your customer’s needs.