Although some brands over the years have been sceptical about how social media can bring in revenue, a new infographic reveals social commerce sales are expected to bring in $30 billion each year by 2015, with half of web sales to occur through social media.
According to the data, Facebook drives 26% of referral traffic to business websites and those numbers are only expected to increase. About 20% of shoppers already prefer buying products through a brand’s Facebook page compared to its website.
Although Facebook users still use the platform largely for personal use, one in three businesses embrace it to reach out to consumers. Nearly 10 million registered small businesses have a Facebook presence, and 89% of agencies use the social network to advertise for their business clients.
Fans who follow brands on Facebook are also more likely to purchase items from the company than non-fans. With that in mind, about 89% of small businesses believe Facebook is a valuable marketing tool for their brand.