10 Social Media Statistics Every Business Owner Should Know in 2017
Social media generates a huge amount of data about your customers in real time. Every day there are over 500 million Tweets, 4.5 billion Likes on Facebook, and 95 million photos and videos uploaded to Instagram. Behind these staggering numbers is a wealth of information about your customers—who they are, what they like, and how they feel about your brand.
In 2017 social media has become the crucial part of digital communications strategies. Social media delivers measurable results in sales, leads, and branding. It also enables to reach a large number of people at a low cost. The world of social media networks is dynamic and in constant change. So check out the important numbers behind it.
Below are 10 social media stats every business owner should know in 2017:
1. There are over 2.8 Billion social media users in the world.
2. 84% of small and medium sized businesses are using social media, 94% of these companies use it for marketing purposes.
3. There are over 50 million business pages on Facebook; 2.5 billion comments are made on these pages every month.
4. Businesses spent $23.68 billion on paid social media ads in 2015, this amount is expected to rise to $35.98 billion in 2017.
5. 65% of the $23.68 billion was spent on Facebook ads, 8.8% was spent on twitter ads and 3.8% on LinkedIn ads.
6. Over 80% of time spent on social networks happen on mobile devices.
7. The average response time for a brand to reply on social media to a user is 10 hours, while the average user will only wait 4 hours.
8. There are about 81 million fake Facebook accounts and about 5% of twitter accounts are bogus.
9. Visual content is 40 times likely to get shared on social media than any other types of content.
10. The best time to post on Facebook is 1–4 p.m. late into the week and on weekends; The best days to post for B2B organizations is Monday–Friday, and for B2C it’s the weekends and Wednesdays.
Social media has a treasure trove of benefits to help you grow your business. By using it to learn more about your customers, engage with your audience, and extend your brand reach, you’ll be converted before you know it.
Want to start using social media to increase brand awareness, drive more traffic to your website, increase sales and improve customer service?
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