Social Media: What’s Hot and What’s Not
In the fast-moving world of social media, trends come and go quickly. Here are several of-the-moment ways your customers are getting their information, and a few ways they’re not.
Tip: Want to advertise? Not surprisingly, Facebook captures almost 75¢ out of every dollar of social media ad spends.
TWITTER vs. INSTAGRAM
Is your practice just starting to Tweet? If so, sorry to tell you that Twitter was just beat out for the #2 spot (behind perennial favorite Facebook) by Instagram–which, by the way, just happens to be owned by Facebook. This new number two is, in fact, already a whopping 25 million users ahead of Twitter.
How quickly do things change? Three years ago Twitter was a solid #2. Then in 2014, Instagram jumped up by 60%, and then another 20% in 2015.
At number three, Pinterest is in a race to catch up with Instagram, and at this point it’s only a couple million users behind. Next, though not moving up as fast, is Tumblr.
So, how is Facebook faring? Just fine, thank you very much. According to research by eMarketer, 51.2% of the U.S. population currently has, and uses, Facebook accounts. That represents the first time any social network can call more than half of all Americans its customers. Its biggest growth in recent years is coming from older Americans—Gen X and above.
Looking ahead, at least short term, Facebook’s dominance will likely increase—with usage among Americans projected to be at 53% in 2020, while Instagram’s share will rise as well, up to 34.8% in 2020.
Want to advertise? Not surprisingly, reports medialifemagazine.com, Facebook captures almost 75¢ out of every dollar of social media ad spends.
THE NEW SUPER MODELS
How are fashion-focused companies making money on social media? Most of them are betting on Instagram. Live stream fashion shows, for example, have resulted in big profits for fashion houses as well as stardom for what are called Insta-Models.
One well known example is Kendall Jenner, who reportedly earns $300,000 per Instagram post from whatever brand she is promoting. Talk about a deal for sponsors—$300,000 is peanuts considering that a fashion house would pay up to $8 million to participate in a major fashion show for ten minutes or less.
WHO USES WHAT?
There’s a constant ebb and flow when it comes to social media preferences. Here are just a few examples from the recent BI Intelligence report, indicating who is using what.
- PINTEREST: Only 13% of its users in the U.S. are men.
- LINKEDIN: Used by 44% of Americans with annual incomes of $75,000 or more, it’s THE network for highly educated, higher-income users.
- SNAPCHAT: Despite lots of new and growing competition, 48% of Snapchat users are under age 24.
So, what do you use in your practice? Please share your successes and social media challenges by joining in the conversation on Facebook here.