Social media is the preferred marketing channel for 48 percent of eCommerce businesses looking to cultivate growth in 2019. In fact, new research from brand/agency connection marketplace DesignRush.com reveals that the popularity of social media as a primary investment channel is slated to surpass SEO, paid search ads, and email marketing combined.
The firm’s study revealed a strong shift away from more traditional marketing channels such as offline advertising and email, toward more modern channels such as SEO, paid search, and—most notably—social media marketing.
The high ROI of social media marketing
Fifty-four percent of respondents stated that social media provided them the best ROI versus any other marketing channel in 2018. For businesses making between $1 and $5 million, this number shot up to 64 percent.
This number dwarfed the ROI runner-up, paid search ads, which only came in at 18 percent—and is more than all other marketing channels combined.
Social media marketing is a clear ROI winner, which explains why eCommerce businesses are betting on the platform for growth in 2019.
Increased investments in social media
Fifty percent of businesses surveyed stated that social media was their largest marketing expense in 2018. For smaller businesses making under $500,000 a year, social media plays an even greater role—61 percent invested the most on the channel.
The low costs of investing in social media make it attractive for businesses of all sizes. For as little as a dollar a day, Facebook will allow businesses to create a sponsored post.
Fifty-seven percent of larger businesses making between $5 and $10 million are planning on social media being their top marketing expense in 2019. It appears that businesses are showing little regret for their 2018 social media investments, and are doubling down in 2019.
Marketing agencies as a growth vehicle
Two-thirds of all eCommerce companies surveyed worked with a marketing agency of some kind in 2018. Social media agencies were the most popular type, with 45 percent of respondents utilizing them. Even more respondents planned on partnering with a social media agency in 2019, as the number rose to 46.2 percent.
For businesses looking to up their growth potential with stronger social media presence, working with a digital agency is a popular option.
Considering the high ROI, low cost of entry, and effectiveness of social media agencies, it’s clear that eCommerce businesses are planning on social media being their visibility vehicle in 2019 and beyond.
DesignRush conducted a survey of over 150 eCommerce businesses to find out about their growth strategies for 2019 and beyond.