Social media usage has increased throughout the years tremendously! Ray Sidney-Smith in partnership with Duquesne University’s SBDC broke down the emerging social media trends.
Let’s first start with the difference between social media and a social network.
Social media is a type of content that people can engage with. Texts, images, audio, and interactive media are among the types of social media which people can engage with.
A social network is where people join to interact with each other. Some examples include Facebook, Instagram, LinkedIn, Snapchat, and more.
Currently, social media usage is at an all-time high. The average user spends about 2.5 hours per day on social media but this number is expected to be higher among the younger generation which jumps to about 5-6 hours per day on social media. Texting and direct messaging are included in those times. And there are about 50 million content creators worldwide for social media.
What’s your favorite social media platform? It was found most people use Facebook and Instagram with TikTok not far behind.
It was found more people are going to start using other platforms for streaming to create their own videos through screen sharing and live streaming. For example, being able to screen record and screen share “how to” videos just got so much easier!
Shopping online has also increased recently with 64% of consumers expressing they rather message a business via social media than call their business.
Social commerce is now worth half a trillion dollars making because the accessibility to shop online has become so much easier. Social media users between the
ages of 16-24 use social media as much as Google to research brands. The brick-and-mortar locations are not going away but shopping via social media has taken away many in-person businesses, in order for brick-and-mortar locations to not go completely away it would be best if in-person businesses and social commerce worked together.
Looking to better utilize social networks for your business? Reach out to a SBDC consultant today!