The Death of Facebook has been Greatly Exaggerated (and other social media insights)

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By Sue Brady

social media montageSocial media has seen a lot of change this year, and the coming year will be no different. Social media is only going to become more important in our personal and professional lives.  A huge 73% of Americans have a social network profile!

Messaging. Messaging apps have taken off, enjoying huge popularity, especially with the younger adult crowd. WhatsApp (bought by Facebook for $16 billion) leads the pack with 900 million monthly active users. Facebook Messenger is second with 700 million. It’s an astounding number of people now communicating in a way that would have been completely foreign just 2 or 3 years ago. Back in the day at AOL, we used AOL Instant Messenger (aka AIM) to communicate with our coworkers and friends. It was easy to keep your buddy list open on your computer to see if the person you wanted to chat with was around. But now, with the proliferation of cell phones, and apps to make them even more useful, you can ‘chat’ with your friends/coworkers using your phone. Being near a computer isn’t important.

Popular Social Media Sites. What hasn’t changed much is the popular social media networks are still popular. The most used social media network is still Facebook with 1.55 billion monthly active users. In the US, Facebook is well ahead of the pack in terms of market share based on visits, at 45%. The next market share giant is Youtube, with half that market share at 22%.

Ebizmba just published its <slightly different> list of  traffic rankings and found that:

Facebook tops the list at 900 million unique monthly users

Twitter has 310 million

LinkedIn has 255 million (though 400 million registered users)

Pinterest has 250 million

The remaining platforms fall well below these sites, but still have millions and millions of users:

Google+

Tumblr

Instagram

Marketing Spend. In terms of marketing budget allocations, Facebook, Twitter and LinkedIn rank the highest for investment. Facebook introduced the ‘buy’ button this year, adding to its usefulness as a platform for marketers. Advertisers are learning how to use Facebook and other social media platforms to sell product. It’s not a fad people! If you haven’t tested Facebook in the last year, you really should give it a try. Facebook made almost $4 billion in ad revenue in 2nd quarter, 2015, most of it from mobile. It’s working.

Checking In. What is dead however is the concept of ‘checking in.’ The idea of using your phone to let people know where you are at the moment you are there, didn’t really catch on. In fact, only 3% of Americans say they have ever ‘checked in.’

Videos. But what IS happening with increasing frequency is people are posting and watching videos. Youtube isn’t the only place, though there are over 1 billion users there watching 4 billion videos a day (with a billion of those views coming from mobile devices). 81% of US Millenials use YouTube, followed by Gen Xers and Baby Boomers after that (source: expandedramblings.com). Vine launched in January 2013 and has 200 million monthly active users. 12 million Vine videos are uploaded to Twitter every day. In one article I found written by Molly Buccini, she sited that Videos trump photos for engagement by 62%! She also states that ‘video shares’ have gone up by 43% since the start of the year. If you aren’t already using videos in your social marketing, now is the time!

Social media spend by brands has seen dramatic growth. According to Statista, spend will go from $7.5 billion in 2014 to over $17 billion by 2019. Make sure you’ve allocated enough of your marketing budget for 2016 to Social Media to take advantages of the opportunities!