Have we reached peak social media usage? Accordingly to a new report released by eMarketer, time spent on Facebook will fall to a new low of 33 minutes per day among US adult Facebook users. Younger users are abandoning the social network in greater numbers, and older ones aren’t increasing their time.
As with all metrics, we should take this information with a grain of salt. This isn't the impending doom some may see. It's an evolution. Social media's luster may be waning, but it is still going to be an integral part of any marketing strategy. Will there be day that Facebook isn't the number one social network...of course, but until that time, it is still a great way to reach your audiences.
eMarketer also reports that they expect US spending on social networks will increase 20.4% in 2020 to more than $43 billion. Social video ads will make up one-third of US digital video ad spending this year. Even as usage declines, ad spending increases. We'll need to be mindful of the ROI as consumers adapt to new social media patterns.