The Power of Social Media
Connecting the World One Click at a Time
As of 2023, there are 5.16 billion internet users in the world. This means that 64.4 percent of the world’s population is now online. The data shows that the number of global internet users has increased by 1.9 percent over the past year, but delays in data reporting mean real growth is likely to be higher.
As of 2023, there are 4.76 billion social media users worldwide, which equates to slightly less than 60 percent of the total global population. But social media user growth has slowed in recent months, with 137 million new users this year growing at just 3 percent year-on-year.
Social media and the internet, over the last decade, has sparked an unprecedented digital revolution, transforming the way we communicate, share information, and connect with others across the globe.
Platforms such as Facebook, Twitter, Instagram, and LinkedIn serve unique purposes, enabling individuals and businesses to build relationships and share their stories with a global audience. The power of social media lies in facilitating real-time interactions and promoting a sense of belonging among like-minded individuals.
The Importance of Using Social Media for Corporations and Startups
Upon analyzing users exposed to new brands, products, and services, 36.8 percent say that they discovered these brands through social media ads. This ranking is followed by search engines with 36.6 percent, TV ads with 35.6 percent, application ads with 30.8 percent, and websites of brands or products with 29.2 percent.
How should organizations use social media?
- Corporations and startups can utilize social media to engage with their target audience and expand their potential customer base by introducing their products and services to broad audiences. It enables brands and startups to communicate directly with their target audience, increasing brand awareness. High-quality content, captivating visuals, and a strong brand voice help brands stand out on social media platforms and build a positive brand reputation.
- One of the most impactful approaches for corporations and startups to engage with their target audience is through features like direct messaging, comment responses, and surveys. These functionalities fortify customer relationships and elevate overall customer satisfaction.
- Social media provides corporations and startups with a competitive advantage in a competitive business world. Monitoring competitors, staying up-to-date with industry trends, and optimizing social media strategies enable brands to make informed decisions and stay ahead of the competition.
- Social media offers a more cost-effective and efficient way for corporations and startups to reach their target audience compared to traditional marketing methods. Well-planned advertising campaigns via social media help brands reach a broader audience and increase conversions.
- Social media enables real-time feedback and analysis. Customer comments and reactions help corporations and startups continuously improve their products or services, leading to increased customer satisfaction.
The We Are Social 2023 Digital Report includes highly valuable information that brands should take into account for their upcoming digital communication strategies. If you wish to thoroughly review the reports, you can access them from the provided documents below.