No One Can Afford to Ignore Social Media

By WEALTH Magazine Staff | Print This Article

If you’re a regular visitor to this website, you know that we write and podcast often about the impact of social media and why it’s important for you to be involved. Whether you’re an investor, a business owner or just a consumer, social media is an arena that no one can afford to miss out on.

Let’s review 10 facts about social media:

1. Facebook has more than 550 million active users. More than 200 million access Facebook through their mobile devices. And people who use FB on their mobile devices are twice as active as non-mobile users.

2. Fifty percent of Facebook’s active users log on in any given day. Not surprisingly, more than 80 percent of businesses are using Facebook in some way.

3. Since April 2010, Twitter has gained 40 million users and a 62 percent increase in mobile use of the platform. From December 2009 to December 2010, users with a biography listed on Twitter increased from 31 percent to 69 percent.

4. The time of the week when tweets are most often re-tweeted: Friday at 4 p.m.

5. The percentage of Twitter users that either never or rarely check Twitter. (The Next Web).

6. The average American Internet user watches 30 minutes of video online per day [40 percent increase over 2009] compared to 5 hours of television per day.

7. Twenty-two percent of Fortune 500 companies now have a public blog that has at least one post in the past 12 months (comScore).

8. Social networking site usage grew 88 percent among Internet users aged 55-64 between April 2009 and May 2010 (Pew Research).

9. In 2009, social gamers bought $2.2 billion in virtual goods; the amount is projected to increase to $6 billion by 2013 (NPD Group).

10. The change in social media use among Baby Boomers 55-64 rose from 9 percent in December 2008 to 43 percent in December 2010 (Marketingcharts.com via David Erickson).

Is it any surprise that more Americans first heard about the death of Osama bin Laden through Twitter than on television news? Think about it.

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