With over 80% of consumers reporting that social media—especially influencer content—significantly impacts buying decisions, marketers across industries are driving the evolution of social media marketing (SMM) from a stand-alone tool to a multipronged source of marketing intelligence on an increasingly important—and growing—audience.1
Within 18 years, from 2004 (when MySpace became the first social media site to reach one million users) to 2022, the dramatic growth of interactive digital channels took social media to levels that challenge even the reach of television and radio.2 At the start of 2023, there were 4.76 billion social media users globally—over 59% of the world’s population.3
As the use of social media trends upward, marketers are perfecting strategies to capture the significant competitive advantage that engagement with this key audience can deliver even more rapidly and more effectively than traditional marketing.
