You must have heard about social media influencing and social media marketing. Do you know what it is? Do you know how large the market is? We will discuss every fact about social media marketing, the rising business of social media influencing, and the role of likes and followers in it.
First of all, why this blog? The answer is to guide and provide payment solutions like SMM payment gateway, SMM panel merchant account, etc., to the companies involving in the business of social media likes, followers, & comments.
You know the world population is 7.9 billion, and the population between 15 to 64 is 65% of the total occupants. Usually, a person with a minimum age of 13 can make an account on social media sites like Instagram, Facebook, etc. You will be shocked to know that around 90% of people in the allowed age group are social media users. The number of total social media users in the world is 4.74 billion till October 2022. in comparison, worldwide internet users counted 5.07 billion.
9 out of 10 internet users have a social media account and let us tell you this exciting fact since you started reading this blog, 300 new accounts have been created on social media. At an average rate of 6 new users per second, the y-o-y growth rate is 4.2%. A user's average screen time on social media is 2.30 hrs per day. If we compare with the total population, we find that 68.6% of the world population uses a mobile phone, whereas 63.5% of the population has internet access.
A survey conducted by GWI reveals that the largest number of users said they are using it to connect with friends and families and see what's being talked about. Similarly, users told in the survey that they were here to watch influencers' content and take inspiration to create their own. Furthermore buying and selling goods & services comes after these two reasons.
A question was asked in an online survey to social media users, do you want to increase your social media followers? More than 95% of users answer positively, similarly about likes and comments. People want to become influencers; they want to increase their followers, likes and comments to monetize their accounts to earn a lot of money.
Let us tell you an essential fact about the increasing market for social media followers, likes, and comments. You know that Cristiano Ronaldo, the Portuguese footballer, has 493 million followers on Instagram and charges $2.40 million per post for any advertisement. Similarly, Kylie Jenner, an American model and entrepreneur charges $1.84 million per advertising post. Furthermore, millions of people earn from social media by promoting, advertising, and providing goods & services. GlobalWebIndex reports that 54% of social media users use the platforms to research products, and 71% are more likely to make a purchase after seeing a recommendation on social media.
You may have heard the words dopamine & oxytocin. You know both these hormones are released by our brain when we see more likes, comments, and followers on our social media pages. Dopamine is a neurotransmitter hormone released in the brain that makes you feel good. Similarly, oxytocin, also known as "the cuddle chemical" or "love hormones," is a happy hormone that makes you feel better. The positive effects of oxytocin, such as reduced stress and emotions of love, trust, empathy, and kindness, are also experienced by social media users. According to a study, using social media for just 10 minutes can lead to oxytocin levels increase by up to 13% a hormone surge comparable to that experienced by some couples on their marriage day.
These are just a few reasons we talked about; there are several other reasons a social media user wants to increase his followers, likes, and comments. There are many requirements to monetize a social media account, and a minimum number of followers is crucial in all of them. So if you are new and not getting followers, In that case, you use the SMM panel services, which help a social media user increase its users, likes, and comments.
And we help those who help social media users. We are PayCly, the best payment service provider to SMM panel merchants. We provide them with every payment solution, like SMM panel merchant account and payment gateway, so that you can take money from your users.
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