While we’re not quite wrapped up with the year just yet, there is no doubt that 2020 changed everything. It changed the way we communicate, the way we shop, the way we greet one another, but it also changed how we use social media.

1. Accelerating growth of social media usage:

As of this summer, we passed the milestone where over half the world’s population is now using social media. In fact, social media usage growth is accelerating faster now than it was at the start of January.

Surprisingly, baby boomers largely contributed to the growth in social media usage. Once reluctant to dive into social, baby boomers are now embracing messaging, spending more time on social media, and generally consuming more digital content.

2. The use of social for brand & business research: 

In the past, search engines dominated the research stage of the buyer journey. In many demographics today, search engines are actually behind social media when it comes to brand research.

Over the course of this year, experts have noticed that consumers are purchasing with more caution than ever before. They are also using social media as a way to see how existing customers are treated and looking for content that explain a business’s products and services prior to purchasing.

3. Social media marketing budgets increased:

Social media budgets reached historic highs in 2020 in wake of the COVID-19 pandemic. Traditionally, social media earned around 10-12% of a business’s marketing budget, but this year jumped to a whopping 23%.

Do you have questions about your business’s social media marketing strategy? Get in touch with us by phone or email. We’re here to help!