Social media is everywhere and quite trendy these days. Tons of buzz words get thrown around. You’ll often hear various opinions on a perferred platform or the value it has to offer by people who have never spent a penny on Social Media ads, or haven’t spent significant time on the platforms themselves. And yet, many marketers who think they’re going to be left behind if they don’t have a facebook or instagram strategy, can’t seem to figure out the value of Snapchat or Twitter. When in reality there is still a ton of value to be had on these platforms.
Why do we choose social media?
When it comes to all things social, we have to remember the one thing that rules supreme; attention. Our goal as marketers is to make sure we are where the consumer is. A recent study showed 68% of Canadians are currently active on social media. The average amount of time per day that we spend on social media has grown to 1 hour and 48 minutes, that’s about 30% of the total time we spend online a day (out of the whopping five hours and 55 minutes daily). So why are advertisers still spending millions on tv, radio, billboards, newspapers and other off-line forms of advertising? This supply and demand gap in the marketplace means the cost of the attention on social media is still dramatically under valued. While this is sure to change in the coming years, the Social Media marketplace is ripe for the taking now