Social media facts and figures: Booming Business in 2018

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The omnipresent reach of the internet has in the past few decades transformed the manner in which people engage, interact and buy. In the words of Canadian statesman Marshall McLuhan, the ability to reach out to anyone and anywhere over the internet has rendered the global world in a global village. Connect with a family member in Canada via social networks, subscribe for regular updates from your favorite-posh English High-Tea Eatery, reserve that last stock of clothing for yourself before anybody else grabs for it, receive updates regarding clearances of official business documents or avail from any of those myriads of services online. The point is, the world is shifting over to the internet, it’s fast becoming the channel with maximum engagement and surpass the traffic over F-2-F meetings or telephonic conversations.

Social Media Helps with the following facets of business –

Distribute Content

Improve Customer Service

Increase Sales

Brand Identity

Brand Engagement

Let’s take a look at some facts and figures, categorically segmented for reader’s sake –

Social Media

  • It’s an urban myth that only the youth matters on Social Media from a business perspective. People in the age group 55-64 are more than twice as likely to engage with a brand online than those aged 28 or less. Instagram and Tumblr are the only two exceptions to this, with a massive youth engagement.
  • In a major boost to brand confidence and identity, four out of five people who complained to a brand via Twitter received a response under a couple of hours, just like Clock-Work.
  • Close to 100 million members at Linkedin access and use the site on a monthly basis. However, only one in five small American businesses has Linkedin accounts.
  • The organic reach of many social media platforms such as Facebook, Twitter is registering a decline and that marketing involves a lot more things than just boosting.
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Content

  • As far as statistics can tell you about online content marketing tactics, blogging is the most preferred method with 70%; social media and case studies each come second with 64%.
  • For the year 2016, 3.2 billion images were shared each day. And this figure stood at 27 million according to an AOL/Nielsen study back in 2013.

Videos are leading the Charge

  • Facebook and Snapchat each score in billions in terms of video views, at 8 and 6 billion respectively. Four out of five people watch online videos every week, and more than half of them watch every day.
  • 10 percent of all global small businesses make use of Youtube. And the platform registers 10 billion video views each day, 300 hours of content uploaded every effing minute. The power of youtube statistics and marketing is unbelievably shocking.

Blogging

  • B2B companies who regularly blog receive 67% more leads every month than those companies who do not. Seven out of ten companies engaged in social selling report a positive impact on revenue growth.
  • Companies that publish 16+ blog posts receive 4.5x leads and 3.5x traffic as compared to companies that don’t. Six out of ten marketers believe they have gained customers simply through actively blogging quality content.
  • The overall Return on Investment is also likely to increase manifold for companies that prioritize blogging, with values up to 13X increase in the ROI.

Pooja Agarwal

Freelancer at Entrepreneur Media India

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