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2018: How Companies and Consumers Are Using Social Media

2018: How Companies and Consumers Are Using Social Media
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TribeLocal developed an in-depth survey that produced a wealth of research regarding how companies and consumers are utilizing social media as it relates to brands. The questionnaire for the company focused on few factors that they were able to figure out using various studies. Overall findings of the survey were:

  • Businesses still haven’t completely accepted social media
  • Users want their brands to care about them and society

Top Social Media Networks and Usage as of 2018

Facebook is the primary platform that everyone is currently on, mainly due to the reach and popularity. However, Twitter and LinkedIn are catching up as companies are realizing their effectiveness.

  • Facebook had 2.2 active billion users, even despite it being banned in many countries like Iraq, Syria, Iran, and China.
  • Twitter has 327 million active monthly users, with 600 million tweets being sent every day across the planet.
  • Instagram has taken over as the biggest photo sharing portal with 200 million active users and 60 million photos being posted every day.
  • YouTube accounts for over 1 billion users with 6 billion hours of video watching every month.
  • LinkedIn connects over 500 million professionals across the planet.

Social Media Marketing KPIs

American researcher Sean Gelles provides 3 key performance indicators (KPIs) for brands:

  1. Noticeability – the more consumers like an ad, the longer they tend to remember about the brand.
  2. Listening – understanding the demands of the potential customers and what types of visual and verbal content might capture their attention.
  3. Reach –  determining which platforms campaigns are suited to run.

Additional Findings from TribeLocal

  • Tools – Companies need tools for measuring the Social Media campaigns but are often hampered by pre-allocated budgets that may not have afforded them the opportunity. They know they need to also integrate customer relationship management (CRM) systems but may also be restricted by budgets.
  • Budgets – 50% of the companies have allocated budgets of less than 5% for Social Media initiatives. 13% had a budget under 10%  Tweet This!
  • Activity – more than 55% of the companies posted at least once and close to 54% of the companies responded to the customer enquiries within 3 hours. 72% of activity was related to marketing.

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