The Importance of Social Media


Source: Global Insight 2020

Out of the current global population of 7.79 billion there were 4.57 billion who used the Internet & out of this 3.96 billion were active on social media platforms in 2020.

 

Source: Global Insight 2020

The number of active social media users seem to be growing annually at an increased rate of +10.5%, out of this 3.91 billion users accessed social media through a mobile device. Businesses seriously opt to consider the potential of this ever growing social media phenomenon to connect & engage with potential customers.

Source: Global Insight 2020

It is interesting to examine the increase of user activity online & in the digital domain which prevailed during the COVID-19 pandemic. It is also evident from the statistical data above that during the pandemic 54% of users on the internet view video streaming sites to watch movies. Followed by 43% users engaged on social media platforms, whereas 42% users used the messenger services and 37% listened to music streaming services.

 

Source: Statista and TNW (2019)

The graph above illustrates the annual growth of social media users expanding from 2006 to 2020. Whereas it also identifies the top four social media platforms such as Facebook, YouTube WhatsApp & Instagram who are leading the charge of the social media boom which marketers could exploit to source for potential customers for businesses.

Author: Peter R Fernando

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