Companies today rely more on social media than any other communications channel for virtually all critical business activities,” Anna Ginovker, director Coinbase User List and senior consultant at The Harris Poll, said in a statement. Audience could play a role in buoying the current interest in social media. Gen Z and millennials, elusive young cohorts who are Coinbase User List often hard to reach on other channels, have contributed the most to the overall spike in social media usage of late, seeing their engagement grow 65% and 63%, respectively.
Those same groups hold brands to a higher threshold when it comes to personalized experiences and relevancy, The Harris Poll found. At the same time, social media is providing a wider range of functions for businesses. Surveyed consumers stated Coinbase User List that, compared to a year ago, they’re using social media more often to find new brands (43%), recommend brands to friends and family (33%) and make purchases (36%). E-commerce has been a major focus for platforms on the product development front, as online shopping accelerates with the shuttering of retail stores due to COVID-19.
Facebook, Instagram, Pinterest and TikTok are among the apps that have put a premium on building out their social commerce capabilities in recent months. Almost all (95%) of executives polled said they believe brands will rely more heavily on social Coinbase User List media to identify business opportunities — including those outside of marketing — over the next three years. But an expansion of budgets doesn’t necessarily translate to confidence. In fact, fewer than half of surveyed executives view their current strategy with the channel as “very effective,” with just 44% feeling “very confident” on execution. Uncertainty is reflected in consumer sentiment as well: 62% of consumers suggested businesses that fail to establish a strong social media presence will not succeed long-term. The Harris Poll surveyed more than.