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Facebook Shares New Insights into the Impacts of COVID-19 on Small Businesses Around the World

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Facebook has this week published the latest update in its State of Small Business Report, which looks at the impact of COVID-19, and the global lockdowns to limit its spread, on SMBs in various regions.

The data, which Facebook has been tracking since July, incorporates responses from more than 30,000 small business owners across 50 countries, and highlights the key concerns and challenges they face as each seeks to maintain operations. And the insight provided is important for virtually every organization, as the flow-on effects will relate to spending in almost all aspects, and will lead to far-reaching economic shifts.

You can download the full, Global State of Small Business Wave III update here, but here’s a look at some of the key notes and charts.

First off, Facebook notes that more businesses are re-opening, with closure rates declining in almost all regions.

Facebook State of Small Business report

Though the impacts are relative – some sectors are seeing renewed impacts, with ‘Information and Communication’ businesses reporting a jump in closures in this latest update.

Facebook State of Small Business report

That likely points to the cumulative, ongoing impacts as businesses gradually assess the financial impacts of the crisis, and rationalize accordingly.

Overall sales are also down across the board, though digital-enabled businesses have been able to lessen the impact.

Facebook State of Small Business report

That’s important to note for digital marketers – according to the report:

  • 48% of consumers surveyed reported an increase in online spending since the outbreak of COVID-19, and 40% of respondents said they increased their use of social media and online messaging for product and business recommendations. 
  • Nearly two-thirds of shoppers surveyed who substituted one of their frequented businesses for a new one reported using digital tools to discover these new businesses. 

An active digital presence can have significant benefits, and that also looks set to remain true beyond the pandemic, with the rise of eCommerce accelerated by five years due to the shutdowns, according to one report. 

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Sales numbers by sector are also down in general, with varying results in each niche.

Facebook State of Small Business report

Overall, the data shows that the impacts of the COVID-19 pandemic are not going to be felt immediately, they’re cumulative, and will show through more over time. Businesses that were not seeing as much impact in the last report are seeing more now, even as more are able to open, because the relative growth or decline may not be evident in immediate figures.

That underlines the ongoing challenges SMBs face, which, again, will impact all businesses in some form. Less spending with SMBs means less spending by SMBs, and with smaller operators dominating the market, that means that we’re all affected over time.

Hopefully, we’re moving closer to a time when we are able to safety re-open our economies, in order to mitigate these losses, but the data shows that we still have a long way to go, and that the flow-on effects will continue to trickle down until we reach that next stage.

There’s a heap more data in Facebook’s full Global State of Small Business Report, which you can download here.

Socialmediatoday.com

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LinkedIn Announces the Retirement of its LinkedIn Lite App

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LinkedIn Announces the Retirement of its LinkedIn Lite App


LinkedIn has announced that it’s shutting down LinkedIn Lite, its pared-back version of the platform, designed for users in regions with more restricted connectivity and data access provisions.

Originally launched back in 2017 as a way to help “level the playing field for all members when it comes to accessibility”, LinkedIn Lite includes the basic functionality of LinkedIn, and is designed to load faster, while also using less data, handy for regions with more restrictive data plans.

But as LinkedIn continues to evolve, the Lite app gets further behind, with the full app’s more advanced functionalities – like video connection, full profile display features, Creator Mode, etc. – all getting more and more distant from the streamlined tool.

And with global connectivity evolving, LinkedIn now feels confident that it can move on without the scaled-back variation, which could also help boost in-app engagement and usage, and make LinkedIn a more significant presence in key markets.

Which, as you can see here, are growing. Now at 810 million total members, LinkedIn continues to gain momentum in developing regions, especially India (85m members, up from 60m in 2019), South Africa (+2m since 2019), the Philippines (+3m) and Nigeria (+1m)

LinkedIn Member Map

As with most social apps, India is a key focus, and LinkedIn says that Indian adoption of the full version of the app is now rising at 4x the global average, as mobile adoption continues to soar in the nation.

At the same time, retirement of the Lite app could also give LinkedIn’s team more opportunity to develop and maintain its new ‘InJobs’ app in China, with the full version of LinkedIn removed from China last October due to increasing regulatory pressure and scrutiny.

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At 56 million users, maintaining connection with China is key, and maybe that’s another factor in LinkedIn’s decision to step away from its scaled-down version.

Either way, the LinkedIn Lite app will be removed from Android app stores on 27th January 27th, before being deactivated completely March 15th.

LinkedIn says that it will transition Lite app users over to the full LinkedIn experience over the next few weeks.



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Twitter Shares New Insights into Rising Discussion Around the NFL Playoffs [Infographic]

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Twitter Shares New Insights into Rising Discussion Around the NFL Playoffs [Infographic]


Super Bowl LVI is just around the corner, which also means that we’ll soon see the biggest showcase of ad content of the year, highlighting new trends, creative activations and opportunities, which can sometimes re-shape advertising approaches from that moment forward.

And this year looks set to be particularly significant. As more people look towards a post-pandemic future, there’s a big opportunities for clever marketers to tap into this enthusiasm, and the various trends that come with it. That’ll likely see more innovative, integrated ad approaches, which will extend beyond the initial big game activations, and showcase new opportunities.

Twitter’s keen to cash in on that excitement. This week, Twitter’s published a new overview of user trends around the NFL playoffs, highlighting the huge boost in tweet activity heading into Super Bowl weekend.

As Twitter notes:

In the 2022 Divisional Round alone, we saw 27% more impressions on Tweets about the NFL, 58% more Tweets overall, and 42% more unique authors, compared with one year ago.”

It could be a key platform for boosting your tie-in efforts – and if you are considering the potential of Twitter ads for your campaigns, then these new stats might help.





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Twitter Shares New Insights into the Rising K-Pop Discussion in the App [Infographic]

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Twitter Shares New Insights into the Rising K-Pop Discussion in the App [Infographic]


Do you like K-pop?

Increasingly, the chances are that you do, given the massive growth of K-pop fandom around the world, with megabands like BTS and Blackpink building huge audiences, and each becoming cultural forces within themselves.

That fandom is most significantly present on Twitter, which has become a key hub for K-pop enthusiasts. K-pop tweeters are now so prominent that they even have the power to quash controversial hashtag movements, by banding together to flood the streams with K-pop-related tweets instead. 

It’s amazing to see, and today, Twitter has shared some new insights into the rising K-pop conversation, which got even bigger, once again, in 2021.

As explained by Twitter:

With a massive 7.8 billion global Tweets in 2021, #KpopTwitter once again showed its power by breaking its previous record of 6.7 billion Tweets in 2020. Registering a notable 16% increase in Tweet volume globally, #KpopTwitter conversations became more diverse and vibrant in 2021.”

So where, exactly, is K-pop discussion trending, and who are the big bands of note? Check out the below insights from Twitter – which also includes a list of rising K-pop stars if you want to get ahead of the curve.





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See also  New Report Looks at Social Platform Performance Benchmarks by Industry
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