Social Media Is Growing Faster than You Think
This is the first of five articles I’ll be writing this week for The Writer’s Life. All of them are focused on the growing opportunity for writers and copywriters in the field of social media marketing.
In this first article I’m going to focus on the size and ongoing growth of the opportunity.
Why? Because plenty of people have asked me whether it’s too late to make money in social media marketing.
They think the social media marketing business is as big as it will ever get.
I can understand why they think that way. But they’re wrong.
Companies are pouring more and more of their total marketing budgets into social media, at an ever-increasing rate.
To prove my point, we’re now going to dive into some statistics. Please pay attention to these figures.
These are the building blocks of a huge opportunity …
According to a recent report by Duke University, in 2014 social media spending will represent 7.4% of companies’ total marketing budget. That translates into tens of billions of dollars being spent this year, spread across over 7,000,000 small, medium and large-sized companies in the U.S. alone.
By next year that percentage will rise to 10.1%.
And by 2019 it’s estimated to grow to 18.1%.
In other words, over the next five years, the money companies spend on social media marketing will go up almost two and a half times.
That’s why I say people are wrong when they suggest the “opportunity” in social media has passed. That’s absolutely not the case.
Here’s another question people keep asking me … “What’s driving this exodus from traditional marketing to social media marketing?”
The answer is simple. If you want to market effectively, you have to get in front of your customers and prospects where they spend most of their time.
Now, for a stunning statistic for you …
This is hot off the press … and clearly demonstrates how dramatically the world of marketing is changing.
People now spend more time on their smartphones than they do watching TV.
- On average Americans spend 147 minutes a day watching TV.
- But they now spend 151 minutes a day on their smartphones.
- And 103 minutes on their laptops and 43 minutes a day on their tablets.
(Source: Millward Brown’s 2014 AdReaction study)
When people spend all that time on their mobile devices, they’re spending most of that time on social media. In fact, 78% of Facebook users are mobile-only!
This is why companies HAVE to be on social media, and they HAVE to do it well.
THAT’s what is driving the move to social media. The buying public is moving to social media big time … and marketers have to follow, or die.
I apologize for all the figures and capital letters … but what I really, really want you to take away from this article is the fact that there’s a huge and accelerating growth in social media marketing right now.
And that translates into an equally large opportunity for freelance writers and copywriters.
“But wait,” you say. “Isn’t social media marketing handled in-house by most companies?”
No, it isn’t. And that, in part, is what we’re going to talk about tomorrow.
Stay tuned … because this could double your income as a writer over the next 12 months!
How to Make Money as a Social Media Marketing Expert
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