As of 2017, the total amount of online ad expenditures has crossed $35 billion. Social media accounts for 16% of all digital ads placed on the internet.
With such massive numbers, social media marketing has become one of the largest investment areas of any business. Moreover, as the number of users increases in social media websites, this sector will also continue to expand.
As of January 2018, the number of social media users stood as follows:
- Facebook – 2.2 billion.
- YouTube – 1.5 billion.
- Instagram – 800 million.
- Twitter – 330 million.
These massive numbers only contribute more to advertisers targeting these platforms for making their businesses more visible.
Some other facts related to social media marketing include:
- Marketers concentrate more on video content than any other
According to survey, a video content has 40% more chance of getting shared online than any other media. So, advertisers create more video ads of high quality and convey storytelling rather than just talking about a product.
Around 68% advertisers use Facebook for uploading video content as part of their marketing strategy.
YouTube earned around $850 million by displaying video ads in the United States alone.
- Facebook aids in the most online purchases
Around 52% of all online purchases were influenced by Facebook; moreover, this number included offline purchases as well. Back in 2014, this number circled around only 36%.
- Twitter complaint response
Twitter, the primary way of connecting to a brand, is an ideal platform for launching a complaint. Around 78% of users expect a company to contact them within an hour after they tweet a complaint against them.
- Small businesses in social media
More than 50 million Facebook pages belong to small businesses using it to form a network with their consumers. However, only 4 million of them pay for advertising in social media.
In addition, around 49% of these businesses have found social media to exert a positive impact on their revenue.
58% of all small businesses spent at least 10 minutes in social media while 21% spent at least 1 hour in it. 63% use social media to search for small or local businesses.
- Social media influenced purchasing
Around 71% users say that they will purchase from a brand they follow online. Moreover, about 46% users depend on social media before making a purchase. However, be careful that you don’t purchase from a brand that has majority fake followers. For example, on Instagram. Well.. unless you use a service such as Buzzoid’s Instagram Followers, you’ll be fine.. but most of the services on the market are quite poor.
63% social media users prefer a business that provides information, easily found through these platforms.
- The biggest influencers of businesses
A survey conducted by Social Media Today in 2013 showed that around 36% of advertisers found their consumers via Twitter; 43% have found their consumers from LinkedIn, and 52% found from Facebook.
- Mobile holds a significant market
Of all the total mobile ads of the world, Facebook accounted for about 21.7 of them. Around 59% of that total social media marketing revenue of Facebook comes from mobile.
Of their total revenue, Twitter earned around 81% from mobile advertising.
- B2B marketers are not sure if social media marketing generates revenue
Quite surprisingly, around 46% of B2B marketers don’t know whether social media marketing contributed to their increase in business or revenue.
These were some of the facts related to social media marketing, the budget for which will increase to 24% from 11% by 2022.