Social media is big business at the moment and with internet speeds getting faster and packages becoming more affordable, the generation of today seems to live their lives through the multiple social platforms that are being openly made available, sharing everything from what they are eating to the special moments that they capture on video.
As the internet age continues to bloom, more users sign up to share their lives online every day and that mentality has made social media one of the richest veins of online earning for companies, resulting in a monopoly effect being created as large businesses battle it out to acquire successful start-ups in an effort to further enhance their power, revenues and awareness.
With the world logging in to keep up to date with the happenings within their own social circles, finding out what their favourite businesses are up to and even getting a chance to share the stunning sights that their friends experience with the use of Flickr and Instagram becoming more of an every-day occurrence for many.
With audience providing huge amounts of marketing and promotional power, the companies behind the social networking powerhouses have been reported to have made billions in revenue in 12 month periods, with the likes of Facebook and YouTube leading the way.
Creating a social network is not an easy task, especially when you think about the magnitude that some of the big names in the industry carry and a [tp lang=”en” only=”y”]recent post on SmallBusiness.co.uk[/tp][tp not_in=”en”]recent post on SmallBusiness.co.uk[/tp] revealed some interesting facts about the industry via an infographic that was accredited to [tp lang=”en” only=”y”]MyVoucherCodes.co.uk[/tp][tp not_in=”en”]MyVoucherCodes.co.uk[/tp], an online voucher site, for its creation and research.
The graphic revealed the true extent that social media offers in terms of user outreach, with staggering figures being shown for the number of active users that some of these platforms receive on a monthly basis, such as Facebook users totalling 1.7 billion every month while even smaller platforms such as photo messaging app SnapChat recording 26 million users, a drop in the ocean when compared to the image sharing platform Pinterst, who are shown to have 70 million active users each month.
With a worldwide recognition and outreach available to big brands such as Google, Facebook, Yahoo and Twitter, it comes as no surprise that they are looking to pick up some of the fast growing, smaller creations with Google already buying up more than 160 companies on route to their dominance and Facebook buying their own fair share of the market with 45 buy outs now residing within their company umbrella, consisting of popular apps such as WatsApp and Instagram.
With new innovations being created, generations and trends changing we are sure that we will see the buying power of the biggest players in the market continue to flourish, buying new inlets into a digital world that is sure to see further growth and the global population continue to use it as part of their every-day life.
As further developments in smart phones and computers continue to push the boundaries that users can experience while on the move, interactive usage looks set to increase even further and with schools beginning to recognise the importance of computer skills, even the new age users will be armed with experience and knowledge to be able to pick up where older generations are falling out of sync with moving trends.
I would love to have gotten in on one the big social media companies from the beginning. I would have made a lot of money
Yup you are right.Nicely described.. Social media craziness increases day by day. Now a days with the help Social Media various startups getting full gear to their business. One interesting points you mentioned is that the competition between giant companies to buy startups which significantly motivates people to bring their own ideas in front of the giants.
There is no doubt that these companies spend a huge amount of money to advertise their products and services on social media sites especially Facebook. Organic reach of posts is much lower and they have to keep spending huge sums of money to reach their audience and customers.
Nice article! Thanks for sharing. The number if people using social media is increasing day by day and we can all agree that they can influence the way you perceive any product/service. They increase your reach to the masses and has been helping small and big businesses alike to boost their sales and customer numbers. Curious to see how it all works out in the next couple of years!
Nice written article and very informative too. The impact of social media is increasing day by day and also the influence of the social media is very deep.