“Statistics is the Grammar of Science.”
– Karl Pearson, Father of Mathematical Statistics
Social Media Statistics: A Brief Introduction:
The phenomenal growth of social media and social media statistics in everyday life is somewhat hard to digest. When why and how it has become such an important part of our lives is something that is implausible. However, we cannot deny the fact that the power of social media is omnipresent.
Love it or hate it, you cannot ignore social media or the billions of people who use social media the world over. It does not matter whether you are a social media novice, or Mark Zuckerberg for that matter, data holds equal importance for everyone.
For a moment, let us think of social media statistics from a big data point of view. While many of us may know how big data is crucial to businesses, we may not know that social media statistics can also be used in the same way.
Like Big Data Management, Social Media Statistics help brands too-
- Reassess their past social media strategies and campaigns
- Plan their future social media strategy and campaigns
- Target certain platforms more than others
- Be innovative from their social media marketing point of view
- Help predict, project and forecast future sales and marketing efforts.
Every year, some of the biggest names in the digital and tech industry publish their year-end reports on social media. We are talking names like Hootsuite, We Are Social, Brandwatch, and Jeff Bullas.
Social Media Statistics are crucial for brands if they want to leverage their businesses. No brand can afford to ignore social media anymore.
Why Social Media Statistics are Important for Social Media Marketing?
Some brands split their marketing budgets between ATL and BTL. Some of the bigger brands spend heavily on traditional forms of advertising and marketing like hoardings, billboards, radio, TV adverts and the like.
This is not to say that these brands do not take social media or digital seriously. They do. Most of them allocate millions of dollars for digital and social spends every year.
However, where social media has truly worked its magic is for small brands and businesses. 90% of private brands cannot afford to go for traditional advertising or marketing. These brands have benefitted immensely from social media marketing and advertising.
Social Media is Necessary for Small Brands as-
- It is the most affordable channel of marketing
- It is the most affordable channel of advertising
- Social Media helps small brands reach their targeted audiences
- Social Media helps in completing the sales cycle
- Social Media helps them engage and build and loyal customer base.
There are thousands of businesses, who do not have any digital presence, apart from their social media profiles. Some of them even operate from just Instagram or Snapchat and generate amazing revenue.
People credit Kylie Jenner and her rise to billionaire status to her Instagram and Snapchat presence. The scope, evolution, and potential of social media in 2019 is unlimited and infinite.
With strategic planning, campaigning, and creatives, small brands are able to leverage their potential and resources meaningfully. The near-perfect nature of social media targeting means that there is hardly a dollar that is spent wastefully.
Some Important Social Media Statistics for 2019:
Social Media as a channel or platform is never static. It keeps growing and evolving every day. As soon as you figure out the algorithms and your perfect hashtag strategy, an update is going to throw all your efforts right out the window.
It is very dynamic, and this makes it difficult to always be on top of your stat game on social. However, we have taken help from our friends at Hootsuite and We Are Social to bring you a list of all the top social media data for 2019.
- According to current estimates, more than 3.5 billion people all over the world use social media. (This is nearly half the Earth’s population, phew!)
- If you just look at figures from 2018, it is estimated that nearly 1 million people joined one or the other social media platform every day. (That is more than 365 million new users in 2018!)
- On average people across the world, spend more than two and a half hours on social media every day.
- Total brand spending on social media platforms will cross $100 Billion Dollars in 2019.
- More than 90% of brands in the world have experimented with social media and have a social media presence.
- Nearly 97% of the 3.5 billion people who use social media do it from a cell phone.
- Platforms like Tik Tok have crossed over a billion downloads and claim to have more than 500 million active users.
This is just a brief list, whose purpose is to make digital marketers and brands understand the enormous potential of social media.
How to Boost Social Media Marketing with Social Media Statistics?
If you are planning to have an active presence on social media, you will need a proper social media strategy. This social media strategy will be geared towards what is known as- Social Media Marketing.
In simple words, Social Media Marketing or SMM is the process of marketing your brand on social media. It involves-
- Creating and Maintaining social media pages or profiles
- Doing regular social postings (images, albums, videos, links, stories, etc.)
- Creating paid campaigns to reach a wider audience
- Boosting particular posts to increase traffic and engagement
- Investing in a robust and effective CRM policy on social media
- Building a community and engaging with your target audience on social media
Social Media Marketing is essential for brands as it can have a tremendous impact on your revenues. The integration between offline-online marketing channels is the key to succeed in this digital world.
This is where statistics play a key role in informing your social media marketing efforts. If you have the proper data and input, you will be able to market your brand on social effectively. Most of the big social media agencies study social media statistics before undertaking any client work.
This helps to understand where the client is going wrong, and what should be the appropriate course correction. Most of the data and statistics are used by agencies during the pitching stage. They use it to point out the error of the brand and present the agency as a solution to the brand’s problems.
Statistics benefit not only brands but digital companies and social media agencies as well. Understanding and processing data is half the battle won, the other half is acting upon it.
How should Brands use Social Media Statistics as a Roadmap?
Just maintaining a social media presence for the heck of it is not enough anymore. Brands need to be aggressive when it comes to exploiting the potential of social media.
Social media is evolving; it is not just a platform where visibility was necessary. Now, brands can use social media to drive their marketing and sales efforts. Any digital or social media agency, which does not promise on delivering sales on social media, is bluffing.
It is their job to guarantee sales, drive traffic to your website, help in your reputation management among other things. Simply doing one post per day is not doing enough. You need to plan a proper strategy, along with allocating certain regular budgets for social spends.
This is where statistics become invaluable. If you were a beauty and cosmetics brand, it would make more sense for you to exploit the potential of Snapchat and Instagram. However, if you are a news station, Facebook and Twitter are where your audience is.
Data helps to play a crucial role when it comes to such decisions and strategy executions. Brands should always use social media statistics in a constructive way to further their business revenues.
Social Media Statistics: The Final Word
People always ask- why social media statistics are more important than other statistics. I can only state that it is because of the dynamic nature of the field. What is relevant today might not be relevant tomorrow. This change in relevancy will affect over 3.5 billion people! Therefore, yes, social media statistics are very important.
Given the reliance that these brands have on social media, it is essential for them to be on top of their social media marketing game. It is only then that they will be able to predict, project and forecast present and future happenings.
The biggest benefit of social media is that it operates as a direct and informal bridge between brands and consumers. No other form of marketing offers this level of interaction or engagement. By skilfully nurturing this platform, brands can strike meaningful and long-lasting conversations and relationships with consumers.
High rates of engagement on social media translate into better sales, a better credibility, better brand loyalty, and happiness with a particular brand.