Why businesses should start investing in social media into their marketing strategy for 2024

In 2024, businesses are increasingly turning to social media marketing as their top choice for promotion and sales. Social media has emerged as the highest-ROI marketing channel as they evolve into frictionless e-commerce platforms.

The effectiveness of social media lies in its role as a leading product discovery and purchasing channel. [43% of marketers utilize social media](https://blog.hubspot.com/marketing/hubspot-blog-marketing-industry-trends-report?hubs_content=blog.hubspot.com%252Fai&hubs_content-cta=null&hubs_post-cta=blognavcard-marketing), surpassing other channels like email marketing (33%) and website/blog SEO (32%).


With the option to set up virtual stores, marketers can provide a frictionless shopping experience, integrating influencer recommendations, in-app purchases, and customer service through direct messages.

Recent surveys reveal that a substantial percentage of consumers across generations discover and purchase products on social media, specifically for Gen Z (64%) and Millennials (59%).

On top of that, more data reveals that: - 17% of social media users bought a product in-app - 25% of consumers bought a product online or in-person based on an influencer's recommendation - 19% of consumers sent direct messages to a brand on social media.

According to a social selling survey conducted by [Hubspot](https://blog.hubspot.com/marketing/hubspot-blog-marketing-industry-trends-report?hubs_content=blog.hubspot.com%252Fai&hubs_content-cta=null&hubs_post-cta=blognavcard-marketing), a whopping 87% of marketers find social selling effective, with 59% reporting increased sales compared to the previous year.

The trend indicates a growing preference for social media as a primary product discovery channel, making it an essential platform for businesses to leverage in 2024.

##### Why your business should leverage social media

For those businesses that have not started advertising their business on social media, you’re likely missing out on a lot of business opportunities.

Improving brand awareness: Social media has an advantage over traditional media platforms in that you can spread information about your business in a quick and cost effective way that can potentially reach thousands of potential customers. In turn, this can translate into more followers, sign-ups, and generally higher conversion rates.

Increasing site traffic: Easily use social media to direct users to your website or private platform. Not only does this improve the quality and quantity of inbound traffic, but also allows you to not rely solely on SEO and being found on Google Search. Organic marketing can be just as effective as paid marketing.

Selling products and services online: Social media is a great way to directly market your products and services. In addition, you can implement retargeting ads to easily target your ideal audience that wants to see your offerings.