Can social media help your business to grow? (Web Article)

83% of Instagram users say that they discover new brands while using the platform (business.com). Social media platforms are designed to cater to the specific interests and wants of an individual user. These interests and wants are converted into needs by repetition, putting products related to their beliefs on their feed. During recent times, Instagram has helped boost the sales of various skincare brands with a rise in Instagram skincare brands like The Ordinary, with the hashtag- #theordinary- trending. Since social media like Instagram and Facebook are essentially visual platforms, they are perfect for the promotion of products that are related o physical looks such as skincare, clothing, shoes and accessories.

We have also seen the rise of a new way of promoting products, that is, through Influencers. According to a report by the Advertising Standards Council of India, while 91% of people trust advertising, 79% trust the words of a social media influencer. Hearing about a product from a trusted social media presence, and watching them use the product, establishes trust within the people, which was towards the influencer but extends to the product. Instagram alone has 1.2 billion active users.

“90% of accounts follow at least one business on Instagram. 62% of users say they are more interested in a brand after seeing it in an Instagram Story. 81% of Instagrammers use the platform for researching new products and services. 87% of Instagram users say they take action after seeing a product on Instagram” (Bagadiya, 2023). The massive influence of social media on the people’s purchasing habits cannot be denied, and it will only go uphill. People have started to rely more and more on their favourite Instagrammer or Youtuber. This trust in social media personalities is so much so that 4 in 10 Millennial subscribers say that their favourite influencer understands them better than their own friends. Instead of spending a huge chunk of money from your already small business fund, you can use Influencers to promote your product and make people trust it.

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