It’s National Social Media Day….LET’S CONNECT!
Today, over 45% of the world’s population uses social media. That’s over 3.8 billion people!
How did social media get where it is today? The social networking industry has a market value of over $46 billion, meaning it has grown almost entirely in the last 25 years, give or take. It’s crazy to believe that such a young industry could grow so fast and become a staple of everyday life. The average person spends about 2.5 hours a day on social media, which is almost 18 hours a week. That’s saying that on a weekly basis we spend almost a whole day’s worth of time consumed with it. Those numbers alone show how much the average person is committed to and prioritizes social media.
Twenty years ago, few would have believed that social media would be as huge as it is now, and you would’ve been called crazy to think that a living could be made out of it. Fast forward to 2020, where we now have social media influencers who make a living off of channels like Instagram, Snapchat, and TikTok by signing endorsement deals to sell products to their large audiences. The majority of marketing firms have switched over to digital by using social media to advertise and market for their clients. Push Digital is a prime example of this. Print might still be alive, but it is much less valued than digital marketing, due to the rise of social media.
So, again, how did social media become so important in today’s world? Here’s a quick rundown of how it has evolved…