Social Media Marketing: Trends and Opportunities
As with all marketing channels, social media is continually evolving. Since it was first introduced, it is continuing to grow, providing tremendous opportunities for brands to reach their customer base.
Before diving into social media today, did you know that the first recognizable social media site, Six Degrees, was created in 1997? It enabled users to upload a profile and make friends with other users. In 1999, the first blogging sites became popular and social media took off from there with sites like MySpace and LinkedIn gaining in popularity in the early 2000s. By 2006, Facebook and Twitter both became available to users throughout the world and other sites rapidly began to be introduced. (source)
Social media is a way of life today. Just take a look at some of these interesting facts from Sprout Social about social media usage:
- 97% of social advertisers chose Facebook as their most used and most useful social media platform.
- Facebook continues to be the most popular social networking site in terms of number of active users. As of October 2018, it had a little over 2 billion active users.
- Instagram continues to attract a younger audience with 72% of teens saying that they use the platform.
- Among marketers, Instagram takes second place to Facebook with 83% of them using the platform.
- 88% of social advertisers use Twitter. This makes it even more popular than Instagram.
- LinkedIn performs 277% better than Facebook and Twitter when it comes to generating visitor-to-lead conversions.
- 80% of social media B2B leads come from LinkedIn.
Social Media Advertising Statistics
- Social networks are the biggest source of inspiration for consumer purchases with 37% of consumers finding purchase inspiration through the channel.
- Emarketer estimated that the ad spending on social video in the US increased by 38.1% during 2018, reaching $7.85 billion.
- Social media is the most relevant advertising channel for 50% of Gen Z and 42% of millennials.
- Non-customers are three times more likely than customers to visit retailers from social media ads.
- 50% of consumers said that seeing user-generated content would increase their chances of buying products through a brand’s social media. 49% said that easy payment systems (like Amazon Pay) would increase their chances of buying through social media.
- Posts with links to more information are the most preferred type of content on social media. 30% of consumers said that it’s the content they like to see most from brands on social. 18% preferred graphics and images, while 17% would like to see produced video. (Sprout Social)
Where is Social Media Headed?
As seen in the earlier stats, Facebook remains one of the most popular social media platforms, but Instagram is quickly catching up. (Social Media Marketing Industry Report)
93% of marketers surveyed said that their social media efforts have led to increased exposure for their brand, 87% stated it brought increased traffic, and 74% have generated leads.
All of the benefits have improved since 2018: