Social Media

Social Media: What Is It, Why Should I Care, and How Do I Control Risk?

What is Social Media?

Social media is information, created using highly accessible and scalable publishing techniques, distributed through social interaction and social networks. Social networks focus on building community and reflecting social relations among people who share interests and/or activities through instant communication to the masses.

General Statistics

  • 72% of all Internet users are now active on social media
  • More than 70% of users access social media from a mobile device
  • Americans spend an average of 37 minutes daily on social media, a higher time-spend than any other major Internet activity, including email
  • The new race in social media is not for audience, but for multi-device engagement (phones, desktops, and tablets)
  • 60% or so of social media time is spent not on desktop computers but on smartphones and tablets
  • 93% of marketers use social media
  • 70% of brands have a presence on Google+ 4% growth from Q4 2012
  • 70% of marketers have used Facebook to successfully gain new customers
  • One million pages can now be accessed with the "login with Facebook" feature
  • 67% of marketers will spend more money on social media for the holiday season
  • Facebook and Instagram users are the most engaged. Around 60% of their users sign in every day (Compared to 46% of Twitter users)

The Biggest Social Networks Out There Right Now

  • More than 1.15 billion users monthly
  • 665 million daily active users
  • More than 76% log in daily
  • One out of seven minutes spent online
  • More than 200 billion new posts per day
  • Average user spends 8.3 hours a month
  • Facebook attracts approximately seven times the engagement of Twitter
  • One million web pages are accessed using the “Login with Facebook” feature
  • 47% of Americans say Facebook is their #1 influencer of purchases
  • 70% of marketers used Facebook to gain new customers
  • 600 thousand accounts are compromised daily
  • 16 million small businesses actively used pages in 2013
  • 189 million of Facebook users are “mobile only”
  • More than 560 million users as of 2013
  • 5,700 tweets per second, 500 million tweets per day
  • 60% mobile users globally
  • Average user spends 21 minutes monthly
  • 40% of users use as curated news feed for updates without tweeting
  • Fastest growing network with a 44% growth from 2012 to 2013
  • The fastest growing demographic on Twitter is the 55-64 year age bracket
  • The demographic has grown 79% since 2012
  • The 45-54 year age bracket is the fastest growing demographic on both Facebook and Google+
  • More than 259 million users as of 2014
  • Nearly 40 percent pay for a premium account
  • 2.7 million Business pages
  • 2.1 million LinkedIn groups
  • 61% use it as their primary professional networking site
  • 42% update their profile information regularly
  • 81% of users belong to at least one group
  • 40% access the site daily
  • 70 million active users
  • 20% of Facebook users are on Pinterest daily
  • 82% of content driven by community, 18% by brand
  • 5 million article pins daily
  • Pinterest shoppers spend more per checkout, averaging $140-$180 more compared to Facebook and Twitter
  • Accounts for 25% of retail referral traffic
  • More than one billion unique users visit each month
  • 100 hours of video uploaded every minute
  • Reaches more US adults ages 18-34 than any cable network
  • 40 million photos uploaded each day

Statistical sources:
Jeff Bullas.com, Business Insider, socialmedia today, Digital Marketing Ramblings (DMR): Pinterest, DMR LinkedIn, DMR Twitter, 124 Fascinating Social Media Statistics & Figures From 2013, All Twitter, Active Network Communities Blog, Social News Daily, Search Engine Journal, Fast Company, Stellar Blue Technologies, All Twitter Holiday Trends, Our Social Times

Why Should I Care?

The rise of photo messaging applications, microblogging platforms, mobile first social networks, and new initiatives to build influence means your employees, customers, consumers, and affiliates are probably using some form of social media either at work or from their mobile devices.

Burying your head in the ground by blocking access and ignoring social media can be fatal to a company. Companies no longer control the message about their organization because individuals contribute to what is said about your company and how you are perceived using social media. Even if your plan is not to engage in social media, risks still abound. Since the conversation can happen without you, you must be aware what is being said to take action when necessary. Your social media presence should respond to the public and help shape the discussion in a positive manner.

How Do I Control Risk?

A Crowe Horwath LLP social media risk assessment can help identify risks to give you an overall picture of your social media risk. We offer you the ability to monitor your company mentions for a full picture of what is posted, messaged, and blogged about your company which allows you to craft an effective response when necessary.

Social media is here to stay and is growing at an exponential rate. While companies can choose not to participate, awareness of the conversations taking place about them and without them cannot be ignored.

If you are interested in learning more about how Crowe can help you assess and take control of your social media risk, please contact Vicky Ludema at 800.599.2304 or vicky.ludema@crowehorwath.com

Contact Us

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Vicky Ludema

Managing Director