The use of social media by consumers, brands, and small businesses is continuing to grow. What does this growth look like, and as an SMB, why is important to you?
We created a presentation, “150 Smart Stats: Online Marketing Trends Every Business Needs to Know”, to help answer this question for you. In it, we sharesocial media stats about the usage, audience, and trends on the most popular social networking sites, as well as trends in search, mobile, and online advertising.
Here are few of the key social media stats we share and a look at what they mean for your local business:
66% of Online Adults in the U.S. Use Social Media
In 2005, only 8% of online adults were using social media. That’s over 700% lower than the number of adults using social media today. And not only are more people using social networking sites, but they are also spending more time on them. In fact, one in six minutes spent online is on a social media site. This incredible growth demonstrates that more people are sharing, connecting, and interacting with others through social media. As this number continues to grow, SMBs will have the opportunity to reach more consumers through this channel. But even more importantly, consumers are now using social media as a way to reach businesses and brands.
Why It Matters: Consumers are looking for local businesses on social media sites to learn more information, share their experiences, and show their support. As more consumers join social media sites, it will become more important for you to have an active social media presence.
More Than 9 Million Small Businesses Are Using Facebook
In 2009, Facebook launched a big redesign of their pages, giving businesses and brands more opportunities to interact and connect with their fans. Since then, Facebook has updated its page layouts, added new features to pages, and implemented the Timeline layout on all business and brand pages. During these updates, both businesses and consumers continued to join this social network. And by 2011, more than nine million small businesses were using Facebook.
Why It Matters: 86% of SMBs surveyed said they valued Facebook as a method of engaging with consumers. And since millions of businesses and brands are already signed up on Facebook and other social networks, it’s important to consider which social media sites you should use in order to reach your target audience online.
Spend on Social Media Advertising is Estimated to Reach $4.8 Billion in 2012
Social media advertising is one way local businesses leverage advertising across their social networking sites. This year businesses are expected to spend roughly $4.8 billion on this form of advertising. This is up by 23.6% from last year alone. And, according to BIA/Kelsey, by 2016, spending on social media advertising is estimated to reach $9.8 billion, more than doubling the estimation for this year.
Why It Matters: Having a strategy in place for social media marketing that includes monitoring and engaging with your fans on social media is important, but it doesn’t end there. Social display ads make up the majority of the spend on social media advertising, because businesses can use them to target their message to specific audiences on social sites. Incorporating this form of advertising can help boost your message across social networking sites, generating more awareness for your small business and potentially generating new leads.
What do you think about these social media stats? How do you think they are impacting your business and advertising tactics? Check out the presentation “150 Smart Stats” on SlideShare to learn even more interesting facts and statistics about local online marketing.