7 Industries that Have Notably Benefited from Social Media
Social media has taken the marketing space by storm. Although companies across all industries were reluctant to use social media to promote their products and services, they have jumped onto the bandwagon, and for a good reason. Today, companies of all shapes and sizes are using social media to increase their sales, establish a brand presence, and spread awareness regarding discounts, offers, etc.
The adoption of social media marketing is certainly moving in the upward direction and there is enough evidence to support this statement. Some of the latest social media numbers show that around 3.78 billion people use at least one social media platform [1].
As the penetration of the internet continues to grow, we are expecting companies across different industries to use social media to their advantage. Companies from different industries are using social media and tasted success.
Which are those industries that benefit the most from social media? In this article, we will take a closer look at some industries that have benefited from social media in recent years.
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Benefits of social media for different industries
1. Tech
The tech industry probably has a lion’s share when it comes to the adoption of social media among all the other industries. Besides, tech companies largely benefit from the ability to control data usage and targeted advertising. For example, companies including Meta (formerly known as Facebook), Apple, and Microsoft have a say in the ads we see on social media. They are also using their upper hand to promote their products to generate additional revenue.
2. Marketing
If you take a look at the larger picture, every single activity that a brand does on social media is some form of marketing or advertising. Hence, it is pretty obvious that the marketing industry would largely benefit from social media.
According to a report by Social Media Today in which around 3,700 marketers were surveyed, social media platforms including LinkedIn, YouTube, Facebook, and Twitter were core components of their marketing strategies. Video marketing has emerged as one of the most trending forms of social media content and roughly around 57% of marketers use it [2].
Some of the other important findings of the report include:
- 92% of respondents are of the opinion that social media is a core part of their business [3].
- 22% of the respondents have been using some form of social media for over five years [4].
- 84% of marketers have integrated social media into conventional marketing activities [5].
3. Retail
The retail industry has arguably benefited a lot from social media. Some big companies including Costco and Target have always got their social media marketing on point. However, we are seeing even smaller companies and retailers do well.
One of the biggest advantages for smaller retailers is that they can get instant feedback from their customers on new products and address their queries as a spark turns into fire. Besides, social media is also a cost-effective marketing tool.
4. Restaurants
Typically, restaurants have failed to monitor and build functional websites due to a myriad of reasons. However, they do an excellent job to run highly engaging and effective social media profiles. A recent survey highlighted that around 80% of restaurant operators use either use social media marketing or intend to use it as an important marketing tool over the next couple of years.
5. Fashion
Social media has offered a helping hand to almost all brands in the fashion industry owing to the fast-paced nature of how content is shared across Instagram, Pinterest, and Facebook. New fashion accessories, styles, and products can be shared with millions of people in just a few seconds.
Some of the most successful and established fashion brands have used social media to promote their products. These companies know how to create visually appealing images that tickle the emotional side of a user. On the other hand, fashion brands consider social media as a powerful research tool to understand which styles are in vogue and which aren’t.
6. Education
This one comes from an unexpected corner, but the education sector has benefitted significantly from social media over the past few years. Social media platform including Meta (formerly known as Facebook) help students connects with educators, educational institutions, and other students who either are or pursuing a similar course.
Many colleges and universities have excelled at using social media. A lot of these institutions use paid and organic advertising on social media platforms to improve their conversion rate and also encourage students to visit their campus.
What is even more interesting is that social media has emerged as a reliable tool for alumni fundraising.
7. Entertainment
The entertainment industry is currently thriving due to the success of social media. The growing popularity of social media has worked wonders for different stakeholders in the entertainment sector. Right from musicians, content creators, videographers, filmmakers, and more, social media has given them a solid platform to promote their work.
The rising interest in short videos, Instagram reels, memes, along with a bunch of other content formats has given musicians, actors, and influencers a medium to promote their songs, films, television shows, and more. Besides, even the rise of TikTok has created quite a stir in the music industry.
Social media era is here, make the most of it
It is very shocking that a lot of industries have still not considered using social media to market their products or services. Even in our list of industries that have benefited from social media, there are a few sectors that many felt would never deploy social media.
Social media marketing should be an important part of your marketing strategy and it is a good time to start.
SEE ALSO: 7 Interesting Marketing Automation Case Studies Every Marketer Should Know in 2022
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Sources:
[1] (2022) “HOW MANY PEOPLE USE SOCIAL MEDIA IN 2022?” Oberlo [online] Accessed [May 2022]
[2][3][4][5] Carranza. A (2015) “7 Industries That Benefit Most from Social Media” SocialMediaToday [online] Accessed [May 2022]
[6] Windels. J (2012) “How Social Media Is Revolutionizing the Restaurant Industry” Business 2 Community [online] Accessed [May 2022]
