5 Critical Social Media Statistics You Need To Know
Statistics play vital roles in the analysis of many things from sports to crime and most importantly business which is why reading about the 5 critical social media statistics you need to know should be one of the top items on your to-do list for the day.
The role of statistics and analytics has greatly changed how we go about business in the online world and they are a key to understanding and taking advantages of trends in areas such as social media. Rather than trailing behind competitors and following in other’s footsteps of success, understanding metrics early on allows better planning to ride the crest of those trends rather than chasing the wake.
So what do you need to know about social media right now?
Top 5 Social Media Statistics
- Facebook’s Organic Reach – Fun fact, Facebook’s organic reach has dropped to a little over 2% this year and might drop further by the end of 2015 down to zero. Their current EdgeRank algorithm has certainly shifted things toward paid advertising. So what does that mean for you? On one hand you could budget for paid Facebook advertising to help offset the lack of organic reach. Another option is to counter with a different style of posting than before which we outlined in an article a few weeks ago. Or you could go a third route and reduce your time spent on Facebook to focus on more fertile markets. The key here is to know what you are using Facebook for. For people looking to boost their brand, build a following and stimulate interest, Facebook should not be a top choice anymore compared to other platforms.
- Facebook and Purchase Behavior – After we blasted Facebook for lack of reach and growth, there still is a very important area where Facebook does stand tall – purchase behavior. For some reason this year is the year that social networks seem to have an impact on shoppers which is a shift from 2013 and even 2014. The king of influence is Facebook with almost 50% of Americans saying that the behemoth influenced a purchase. Obviously paid advertising plays heavily into this shift which should demonstrate the value it can have for those businesses focused on sales numbers. Twitter, on the other hand, is at the bottom of the pile with the other networks not even sniffing worthwhile numbers to be considered in this conversation.
- Some Social Media is Growing – Pinterest is currently in the midst of a surge of growth that is over 100% for their user base. Per recent stats, they are adding over 100,000 new users every single day. That is huge. If you aren’t on Pinterest yet you should be to take advantage of the sheer number of users and our recent post about ‘How can you be successful on Pinterest’ is a great place to start. Tumblr is another super hot market right now that is experience growth similar to Pinterest. Another image based platform, it is smart money to get involved with them as well. Both platforms have shown a high level of user engagement which is something you should be looking for with social media.
- Know what is Engaging – As we mentioned, Facebook’s organic reach is in the tank. Interestingly enough Twitter seems to be on a fade as well because other sites are fostering much greater engagement. Did you know that Instagram has about a 50-times higher user engagement rate than Twitter? For up and coming brands that is a number that is hard to ignore. On the same note, it seems like Twitter is becoming more of a background platform for those who want to quickly build a following.
- Snapchat remains Worthwhile – While not at Pinterest or Tumblr level, Snapchat is still growing at a healthy 50% rate. One of the more popular messaging apps, especially with younger demographics, this is a great channel for brand recognition and marketing campaigns. With a recent ‘pay to be seen’ option along with their free features, Snapchat is a platform that should be added into your social media marketing strategy.
The bottom line is that change is inevitable, especially when you consider the low attention span of younger demographics. While some companies like Facebook still look to set the tone for an industry, the truth of the matter is that there is regularly going to be adjustments as one platform fades in response to another’s growth. Analyze our 5 critical social media statistics you need to know and look to act on them now while the iron is hot to make sure that you and not your competition gains the market advantage.