Social media networks are playing an increasingly critical role in both our business and personal lives. This phenomenal growth has made a huge impact on what we used to do to pass the time.
Social media now accounts for 18% of all the time we spend online1, and more than half (56%) of people in the U.S. now has a social media profile, up from less than a quarter in 20082.
Below is some general data from various sources to give you an idea of what the ever-evolving social media landscape currently looks like.
1The State of Social Media 2012, 2 ComsCore, The Social Habit 2012, Edison Research
New highs were reached this year and will continue to do so for the foreseeable future.
Except for the very top, their individual popularity will fluctuate by the whims of users (consumers?) and the acquisitions and mergers that happen surprisingly often and for extraordinary amounts of money (i.e., Instagram).
|Websites||Total Visits||Visits Share||12/29||12/22||12/15|
Source: Experian Hitwise US © 2013 Hitwise Pty Ltd. All rights reserved
Growth in the social network sector is coming from all groups. While it was at first the bastion of younger users, other segments have embraced this new way of staying and getting connected.
Note: Total n for internet users ages 65+ in 2005 was <100, so results for that group are not included
Source: Pew Research Center’s Internet & American Life Project surveys: February 2005, August 2006, May 2008, April 2009, May 2010, August 2011, February 2012, and 2012
According to a recent BIA/Kelsey forecast, social media ad revenue reached $4.6 billion in 2012 and is projected to hit $9.2 billion in 2016. And while overall growth is expected, how advertising spend shakes out over the next four years looks to be in local’s favor. National ad spend with social networks is slowly trending down by 9 percent but local ad spend shows increases by 8 percent in four years. Beware though, brands will be forced to measure ROI as CEOs are growing tired of implementing social media tactics with no proven return on investment or tangible metrics.
Source: BIA/Kelsey, November 2012
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