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The Internet's ability to reach billions across the globe has given online word of mouth a powerful voice and far reach. Just under half the world's population is currently on the Internet. Roughly 75 per cent of those people are on social media and roughly 80 per cent have social media accounts on their mobile phones.
Hootsuite Stats
Social Media Global Data Jan 2018 (Source: Hootsuite)

Social network penetration worldwide is ever-increasing. In 2017, 71 per cent of internet users were social network users and these figures are expected to grow. Social networking is one of the most popular online activities with high user engagement rates and expanding mobile possibilities. Based on past growth trends, it is estimated that there will be around 2.77 billion social media users around the globe in 2019, up from 2.46 billion in 2017 (Source: Statista).

Linkedin Stats
Social Media Growth Forecast (Source: Linkedin)

Social media networks are, in many cases, a good tool for avoiding costly market research. They are the shortest, fastest and most direct way to reach an audience. Social media marketing is critical in building brands, connecting with customers, promoting products and services and converting visitors to customers. Every action you take on social networks should be a part of a larger social media marketing strategy that’s driving toward business goals. It might sound complicated, but if you take the time to create a comprehensive social media strategy, the rest of your social efforts should follow naturally.

Social Media Benefits
Benefits of Social Media Marketing