In 2018, it is estimated that there will be around 2.55 billion social network users around the globe, up from 1.87 billion in 2014. Looking from an advertising perspective, advertisers worldwide will spend $23.68 billion on paid media to reach consumers on social networks this year, according to new figures from eMarketer, a 33.5% increase from 2014. By 2017, social network ad spending will reach $35.98 billion, representing 16.0% of all digital ad spending globally. With such massive growth being projected for social media usage and advertising, a question that frequently pops up in the mind is – Which is the most powerful social media platform?
The Social Barrel team has attempted to address above mentioned question via below infographic. As with any analysis, the analysis performed by the Social Barrel team can’t be termed as an exhaustive analysis and the below infographic is based on below 6 parameters to suggest which social media platform could be the most powerful platform. As indicated by below infographic, Facebook has emerged as a clear winner for the ‘Most Powerful Social Media Platform’ title.
- Number of active users
- Average daily time spent (NOTE: Data indicated for this parameter pertains only to US social media users but this data has been extrapolated to get an idea regarding average time spent on social media by non-US users as well).
- Visitor growth over a period of 10 years i.e. from 2004 to 2013.
- Most important social media platform considered by marketers.
- Social Media platforms for which US retailers plan to increase advertising spending
- Conversion Rate – The rate at which a visitor went on to purchase an item after visiting a given social media site.