The Rise and Fall of Social Media

02, May 2018
social media marketing

Social media is constantly evolving – remember the days of Bebo and Myspace? It has become intertwined into our everyday lives and we’re spending average of 1hr 48 minutes on it each day.

Social media marketing is one of the most effective and least expensive ways to build a business. With such a huge array of platforms out there, how do you know which ones you should be utilising? It can prove tricky to understand which platform your customers are actively using. As new trends emerge, your following might move onto another social media outlet, so analysis is particularly important – otherwise you could be targeting the wrong audience.

Read on for an overview of the nations favourite platforms, who’s using them and how they’re evolving.

Facebook

It probably comes as no surprise Facebook is the market leader, with over 2 billion monthly active users, however it isn’t growing as quickly as other channels. This could be due to the fact that teenagers have fallen out of favour with the platform, now being saturated with millennials and baby boomers – simply teenagers don’t want to be hanging out where their parents are. Another thing to watch out on Facebook is the algorithms. A recent change was deprioritising business posts to encourage more interaction between family and friends, a move which most likely is to encourage brands to pay for advertising on the site.

Instagram

This visual content lead platform continues to grow and grow, with the younger demographic of 18-29-year olds being the largest percentage of users. Thanks to the introduction of Stories, it has doubled its monthly active users to 800 million in just two years. A big marketing trend for 2018 is creating complete brand transparency. With more and more businesses moving online, customers are missing the personal interaction, so the behind-the-scenes content stories allow brands to post enhances the user experience and helps to create that brand personality.

Twitter

Twitters 330 million monthly users love this platform as it is consistent and direct. It is a great place for snappy conversations, especially for anything newsworthy or controversial. However, it’s not clear how this platform will continue to survive against Facebook and its 2 billion active users. It is clear that Twitter’s future will need to be far beyond its 140-character limitation and one theory is video will be and must be an integral part of its existence.

YouTube

Consumers love video and there is no better platform for this than YouTube as its 1.5 billion monthly active users proves! This platform has one of the most diverse demographics due to the diverse range of content available. However, it continues to appeal to older generations more than other major social platforms. As of 2018, 56% of those aged 50 and older use YouTube. Comparatively, 55% of 50+ year-olds use Facebook, 16% use Instagram, 14% use Twitter, and 7% use Snapchat.

Snapchat

With the likes of Instagram Stories now rivalling snapchat, and an app redesign which wasn’t received well by users, you can say it hasn’t been an easy year for this platform! Under 25’s makes up 60% of the users, and like it because its private and can be used to make video calls.  The app also suffered this year and decreased its worth by $1.3 billion when one of the worlds biggest influencers Kylie Jenner tweeted “sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad.”

So, what does the future of social media hold?

Currently, no channel seems like it’s set to become the next social media graveyard but what businesses need to watch is how consumers social habits are changing, and what trends are evolving that could engage their audience. If you’re looking for some guidance for your social media marketing, get in touch!

Sources:

https://www.dreamgrow.com/top-15-most-popular-social-networking-sites/

http://fortune.com/2017/05/15/twitter-livenation-partnership-video-streaming/

http://www.pewinternet.org/2018/03/01/social-media-use-in-2018/

 

By Heather
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