Social media has significantly impacted businesses by changing consumer behavior and how they purchase goods and services. It allows companies to directly interact with and receive feedback from customers, strengthening brand loyalty. This increased customer power and word-of-mouth advertising on social media also creates more competition for businesses to engage audiences. With over 4.89 billion social media users projected by 2023 and 93% of marketers using social platforms, social media remains a highly effective promotional tool for many industries.

1. Impact of
Social
Media on
Business
By: Laney Cleckner

2. Social Media Background
Statistics are continuing to show that social
media is
changing the way we do business.
Social media is the most popular online activity, and 22
percent of time spent online is used on Facebook, Twitter,
and Instagram.
⅔ of internet users regularly use social networks online to
obtain information on products and services.

3. Noticing Change
● Businesses are getting
overwhelming evidence that
social media is developing a
stronger presence online.
● Social media demands
attention because it has
completely changed consumer
behavior. It continues to do so
as broader age groups are
using social media as a tool for
purchasing goods and services.

4. In 2023, there are
estimated to be 4.89
billion social media uses
worldwide.
03
Social Media Stats in Business
Total spend on social
media advertising is
projected to reach
$268B in 2023.
01
56% of marketers use
TikTok/Instagram for
promotion, making
them the most popular
marketing channels.
02
93% of marketers
worldwide are using
social media to boost
their businesses growth.
04

5. Impact of Social
Media on Business
Brand Loyalty
Business are always worrying about
competition and have to win trust
over other brands for customers.
Social media offers a platform for
companies to interact with their
customers, eliminating the
middlemen of retailers and
wholesalers, making
communication precise and clear.

6. Competition
Increased Customer Power
Social media marketing is now pushing other
marketers and companies to go higher in their
efforts for targeting audiences and customers. It
encourages brands to work effectively and
productively to attract maximum customer attention
and sales.
Customers now have a voice that speaks louder than
before. Social media gives customers the ability to share
their views about a product or service, with a greater
audience to hear. Businesses lose power in this aspect, but
are able to gain respect and recognition from the good
side of reviews and thoughts from customers.

7. Word of Mouth
One of the most important and obvious
reasons social media is used by businesses,
is the efficient and effective ways
products and services can be heard by
people. Research reveals hat at least 72%
of people look up products before they
buy them. When having such a
widespread media to share your business
on, it makes it easy for customers to
engage in your profile and learn more
about your sales and offerings. Social
media is the quickest and easiest way to
help boost your brand and to get your
company’s name out.

8. Multiple Industries
Social media has as effect on many
different industries for promotion and
advertising. Some of those include
hospitality industries, entrepreneurship,
restaurants, schools, and small
businesses. Over the past decade these
industries have been using social media
to connect with existing customers and
attract new ones at the same time.

9. Number of Companies using Platform
5 Billion
businesses
200 Million
Businesses
5o Million
Businesses

10. Conclusion
Social media remains to be one
of the most effective and
efficient ways of promoting and
advertising for companies.
Marketing teams worldwide are
using platforms to connect to
customers, receive feedback,
make business run smoother,
and sell their products. Social
media is not showing any signs
of slowing down and is
continuing to help business
thrive.