Social Media

The world of business has changed a lot in the past decade and few things have impacted how a business operates in the way that social media has. Let’s look at my top ten key facts about why social media is so important for any thriving business in today’s world.

1. Multiple Platforms

   Research has shown that 52% of online adults use more than one social media site – so they don’t just stick to one social media platform. Social media sites may seem similar at first glance but they are all very different and offer different things.

2. The Millennial Audience

   If you want to target the much-coveted ‘millennial’ audience then social media is your best bet, as research has shown that 90% of young adults use social media in some form.

3. Start-Up Successes

   The perks and benefits of social media as a marketing tool have been widely seen in the number of start-up businesses that have used it, with research showing that up to 61% of new start-up businesses use social media.

4. Huge Audience

   Social media gives your business a huge audience. For example, Tumblr has 230 million active monthly users worldwide and research shows more than 100,000 new accounts are created daily.

5. Importance to Customers

   Social media is very important to your potential customers and research has shown that many people consider social media to be one of the most important deciding factors when it comes to purchasing a new product/service.

6. Engagement

   When it comes to engaging with your customers, few – if any – methods can match social media, with many business professionals considering social media to be a driving force for their business’s customer engagement.

7. New Social Media

   New social media sites are being developed all the time and they offer even more varied and interesting opportunities for businesses. Instagram, for example, was launched in late 2010 and has grown to have an audience of 500 million monthly active users.

8. Growing Audience

   The percentage of people who are active on social media is already impressive and it’s growing daily. Experts predict that by 2018 up to 2.5 billion people worldwide will be active on social media.

9. Follow the Top 100

   If you’re still not convinced about the importance of social media, consider the fact that out of the top 100 brands, all have a YouTube channel, 98% of them use Twitter and 96% of them use Facebook.

10. Yes, It’s Profitable!

    There’s a lot of discussion and debate over whether social media can actually be profitable, but experts predict that advertising revenue from social media alone will reach $9.8 billion in 2016.