What is social media?
Social media are websites or applications that allow people to share ideas, contents, information through virtual communities and networks. Social media is also a quick, efficient and “in real time” communication and interaction channel. It has been growing so fast in the last decades and has become one of the greatest influences in our life.
The connection of social media and business
For every business, finding and attracting customers play an important role and social media is truly an open door for this challenge. Here are some facts about social media usage:
- There are 3.725 billion active social media users
- On average, people have 7.6 social media accounts
- The average daily time spent on social is 143 minutes a day
- 91% of retail brands use 2 or more social media channels
- 81% of all small and medium businesses use some kind of social platform
The numbers have said it themselves. Let’s take a look at the history of social media and how it has transformed today.
Social media highlighted timeline
In 1997, Six Degrees – the first social media platform reached its peak with 1 million people who can create profiles and “add friends” to each other.
LiveJournal was a platform made in 1999 that allows people to create blogs and keep each other updated (which is known later as the ‘status’ function of Facebook).
However, the term ‘social media’ only became more official in the 2000s.
In 2003, LinkedIn launched their first version that let people upload their resumes and send private messages within business or career-oriented circles.
2003 marked many milestones for the Internet world with the birth of Gmail (Google’s own email service), Myspace (most popular social work channel at that time) and Skype (for instant messages and video calls/live).
In 2004, Mark Zuckerberg and his Harvard fellows highlighted social media history with Facebook. Facebook has always been the biggest social media channel since then and has reached nearly 2.4 billion active users today.
Youtube published in February, 2005 as an online video-sharing platform, now operates as one of Google’s subsidiaries.
Many other platforms were launched in the upcoming years such as Reddit (2005), Twitter (2006) – with 330 million active users in 2020 and Tumblr (2007).
Pinterest introduced in the beginning of 2010 as a photo sharing platform allows users to ‘pin’ other account works to their personal ‘pinboards’.
In the same year 2010, Instagram made its first debut. Today, Instagram has 1 billion active users and is believed to be the biggest competitor with Facebook.
It would be inadequate if not mention Snapchat (2011) – allows users to send pictures/videos with limited existing time up to 24 hours and Tiktok (2007) – a sharing short video platform that just reached 2 billion downloads in the beginning of the year.
Social media trend
Social media has become one of our daily routines and brought its undeniable power towards the business world.
With the growth of platforms such as Snapchat and Facebook and Instagram’s story, we can see that ‘momentary content’ will rise in the near future. A recent report by Hootsuite shows that 64% of marketers have included Stories to their strategies.
The popularity of Tiktok and the stability of LinkedIn and Twitch have proved that niche platforms will perform better. LinkedIn focuses on professional career-oriented groups, Twitch mainly used by gamer communities while Tiktok aims only for the youth.
The rise of E-commerce
Social media in the last decades has completely changed consumer’s purchasing habits. Online shopping is the future because of its fast, convenient and time-saving. Online shops grow like mushrooms and social networks are continuously evolving to become retail platforms. Instagram now has the function that allows users to switch easily in between their personal and business profiles.
Video, gifs or motion graphics bring better effect on a user’s reaction. Whether it is short-form content (Tiktok, Instagram/Facebook Stories) or long-form content (Youtube), video is believed to be the dominance in the social media content competition. According to a Cisco study, by 2022, 82% of all online content will be motion contents.
Influencers is not a new concept of marketing strategies (paying for social media popular accounts to promote business products/services for higher sales). Cooperating with influencers can be cheaper than running marketing campaigns or advertisements. So, this method will keep continuing to soar in the near future since the number of active users doesn’t seem like to stop.
Privacy and security
Privacy and data security will be protected more in the future to keep the engagement with users.
Augmented Reality and Virtual Reality
Modern technology is measured by its closeness to reality. Facebook, Instagram and Snapchat have released tons of AR and VR filters. Cosmetics companies all around the world have been using trial makeup filters to attract customers (for example Sephora).
What do we believe?
The new trends of social media are up-to-date every day, every hour and every minute. It is parallel with the fast development of Internet and Technology. In Werbepresse, we believe in the power of the online world and are responsible for every act we make. Understanding the future direction of social media trends is our solution to your business growth.