Why this is important to Wisconsin businesses: To best reach consumers in the Canadian market, companies should include social media in their marketing plans.
Social media has become an integral part of life and everyday business in Canada, and the use of social media continues to grow among Canadian users. As reported by the Canadian Internet Registration Authority, almost 90% of all Canadians have an internet connection and most use social media, with 61% of Canadians using social media every day. According to Statista, in 2018 there were about 25.3 million Canadian social network users, with this number expected to grow to just over 27 million by 2023. Canadians are adept at using social media, and Canadian businesses are always looking for ways to further engage and communicate through social media with customers, a key component in their marketing plans.
Canadians are using social media and the various platforms to research and discover products prior to making purchasing decisions, and opportunities for companies to personalize their social media will have a major impact on a customer’s purchasing journey and the decisions they make. Canadians want the shopping process to be efficient and quick, and are most likely to buy from a brand that shares their morals and values. User and customer reviews, endorsements from influencers, and social media posts from family and friends also influence purchasing decisions. A PwC study found that social media has had a major impact on purchasing decisions, with 40% of Canadian respondents saying that reading product reviews and feedback on social media influenced their shopping behavior. That number goes up to 55% when looking specifically at those under 24 years of age, a cohort where 84% of shoppers say social media has influenced their shopping behavior.
With the increasing use of social media and the growth that is projected, it’s important that companies have a social media campaign/marketing plan to create ways to engage, target and communicate with customers. Better understanding the customer’s interests, providing the personalization they seek (added value specific to their lives) and understanding how they use social media will help to gain customer loyalty and drive more sales. With the popularity of social media/network usage, the demand for more analytical, marketing, social management and measurement tools will grow.