Chapter 4: Social Media is King
Social media is the primary vector modern people consume information. Key metrics to keep in mind include:
4.74 Billion users, or 59.3% of the world population
2 hours 28 minutes average daily time spent on social media
4.2% yearly growth of users (+190M users)
Digital advertising accounts for more than half of all ad spend in the world these days. Social media has become the dominant format, leaving all traditional methods of advertising behind. A new study from Sprout Social shows 68% of consumers have already made a purchase directly from social media, with 98% of all consumers planning to make at least one purchase through social media this year. Social shopping is on track to become a $1.2 Trillion sales channel by 2025.
Frankly, no other marketing vertical has numbers like this. Every business should be taking full advantage of social media & digital advertising (we will go more in depth into paid ads in the Marketing Course).