As the 2010s come to a close, it’s crazy to remember some important social media milestones throughout the decade, like the birth of Instagram, and Snapchat.
Many people roll their eyes at social media but check out these ten impressive (or concerning) stats:
- E-commerce sales more than doubled over the decade, and social media was the driving force behind it.
- Facebook grew from 482 million users to 2.5 billion from 2010 to 2019
- Advertising on social media hit $74 billion in 2018
- People aged 55-64 are more than twice as likely to engage with branded content than those 28 or younger
- Facebook now sees 8 billion average DAILY videos
- US adults spend an average of 1 hour, 16 minutes each day watching video on digital devices
- 69% of U.S. adults are on Facebook
- 73% of U.S. adults use YouTube
- Facebook provides news for about 40% of U.S. adults
- Most social media users (51 to 74%) visit social media platforms at least once a day.
Social media has been the vehicle for life to move online not just socially, but professionally. E-commerce depends on social media and advertising there now with some of the biggest retail companies in the world operating almost exclusively online with a large social media presence.
I think the question now is, for those brands that aren’t on social media, what are you waiting for?