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If your audience is composed of millennials, then it’s time to start using Facebook Live, according to a new report by UBS. The company surveyed 2,000 U.S. consumers aged 13 and up on social media usage as well as video consumption and found that Facebook’s relatively new service is the go-to service for that age group, followed closely by YouTube and Snapchat Live Stories, according to an article in Investors Business Daily.
When it came to social platforms, Facebook, YouTube, Pinterest, Twitter, LinkedIn and Snapchat had the highest monthly average users, which continues to fly in the face of reports that Facebook is no longer popular with millennials. That said, Facebook’s popularity was boosted by its Instagram media-sharing service and WhatsApp messaging service, in addition to a pure Facebook presence.
69% of monthly Facebook users return daily, mostly because the platform is becoming much more than social interaction. Facebook is now a hub for news, events and content with a wide reach that the majority of people use in their daily lives, which differentiates it from all other social platforms.
Although Facebook Live is hugely popular to millennials, the company still is at a loss for how to monetize the content, much to the chagrin of content creators. The company has been testing a “buy button” on its News Feed posts for two years, which lets users purchase items without leaving the platform. “The majority of respondents who are Facebook users have not heard of the buy button (58%), while nearly half of Twitter users (45%) stated the same,” UBS said however. Twitter and Pinterest have also been testing buy buttons.
Once again, when it comes to social media, it’s important to go where your audience is. If its the 13 to 24 age group, then it’s wise to be on Facebook Live. The idea is that, as of now, you’ll be using it as a promotional tool instead of expecting to make money from it.