Everyone has a social media account and people use it to stay connected with their friends, family and the rest of the global community. Big businesses and companies have put their efforts in digital marketing on social media because of the huge impact of social in people’s lives. Billions of people are on their social media accounts each day and social is where they put their time and money on. According to statistics, people are more likely to convert through social media because testimonials and reviews are more authentic and come from legitimate customer experiences. Social is an important form of media that has played a significant role in how we socialize and connect in a technological era.
How many people are on social media?
Just how many are on social? Currently, there are 3.36 billion people on social media and the rate of expansion just keep increasing each year. Overall there are 4.119 billion internet users and 75% are also on social media. However, some countries have a more dominant presence on social media compared to others. There are more Americans on social media compared to any other nationality. Seven out of ten Americans are on social. People on social media use more than one platform and with the innovation and ease of use social platforms are applying to their products and service users are likelier to sign up. Internet users on social media now have an average of 7 accounts.
Social Media and Business
Businesses and brands have taken to social media to promote their products and services. The amount these companies are spending on digital marketing campaigns shows that marketing on social does produce significant ROIs. Businesses have spent over $19.3 billion in the United States in 2018 on social media ads. Advertising on social media will continue to be relevant in the coming years and it is expected that worldwide, advertising on social media will grow to $48 billion by 2021. 81% of small to medium businesses use social media presence to boost their exposure to customers and potential clients.
Social Media and User Engagement
The statistics show that people in different age brackets react to social differently. When it comes to conversions people who are aged 55 and 64 are more likely to engage with a brand’s content. The explanation for this is at this age people just want to get in and buy the product. They are already tired of marketing messages. It has also been shown that brands are missing out when it comes to tracking users who are talking about their brand since 95% of people who talk about a brand do not follow it. For social media marketers, their two biggest challenges are assessing the effectiveness of their social media activities and designing an effective digital marketing strategy. It is interesting to note that engagement with shared content is higher on a weekday at 49% compared to weekends. The explanation for this is people spend their weekends busy with family and friends.
The Impact of Social media
A lot of people all over the world rely on social media to get news. 68% of American have reported turning to social media to get the latest news and updates. However, there is a mistrust for news in these sources and many regards posted news online as fake or inaccurate.
Right now, the biggest social media platform is Facebook with 2.32 billion users. 79% of Americans are on this social media platform. The average time people spend on their Facebook is 35 minutes and social networking has become a daily habit for many. Other platforms users visit on a daily basis are Snapchat, Instagram, Twitter, and YouTube. Because of the opportunity for more connections the average Facebook user has 155 friends.
Social media will be a big factor in people’s lives in the years to come. It has emerged as the best place to build connections, find new discoveries and get updated with news. In achieving a future of a borderless world, social media is the key that will lead to understanding and meaningful interactions.