4 Mar 2022
The Global State of Digital Media in 2022—and What It Means for Producers
Estimated read time: 4 minutes
You’re an insurance advisor. Not a digital marketing pro. Not a social media whiz. So why should you care about the state of digital media, particularly social media?
Here’s why: because it’s not only an essential part of today’s business landscape, it’s changing the way the world conducts business.
Digital and social aren’t just here to stay—they’re growing. They offer insurance agents, agencies and carriers opportunities to tell their stories, demonstrate expertise, introduce products and connect with new and existing clients.
But you can’t do this effectively without a basic understanding of the digital universe and how to best use it.
Fortunately, there’s a wealth of research on this subject, including Digital 2022: Global Overview Report, a comprehensive analysis conducted by HootSuite, a social media management platform, and We Are Social, a specialized social media agency.
We’re not suggesting that you read the 300-page report; your time is better spent connecting with prospects and clients. But you should know the highlights that pertain to you—which is why you’ll find them right here.
The Global State of Digital: Our Top 15 Takeaways
- The top three forms of digital media are chat and messaging vehicles, social networking sites and search engines, which digitally-savvy agents/agencies can leverage to better communicate with current and future clients.
- Most of the world is on social media—that is 75% of the global population over the age of 13. In terms of PALIG’s footprint, it breaks down to:
73% in Central America
79% in Southern America
55% in the Caribbean
- The main reasons people use social media are to stay in touch with friends and family and fill spare time, as well as to find content and products to buy, make new contacts and perform work-related networking and research. 75% use social media to learn about brands and products—that’s why every agency needs a solid social presence.
- People have spent more time on social media every year for the last nine years. Currently, users spend an average of nearly 2.5 hours per day on social, visiting an average of 7.5 different platforms each month. No wonder marketers now spend one-third of their digital advertising budgets on social ads building a presence on multiple platforms.
- The top three social platforms are Facebook, YouTube and WhatsApp, followed by Instagram and WeChat. With 2.91 billion users, Facebook is by far the largest. If you’re wondering if you should maintain a business page on Facebook, the answer is an unequivocal yes.
- Users visit multiple platforms because they get something different from each—i.e., using Facebook to connect with friends and Twitter to get the news. By tailoring your content to each platform, you can tap into your audience’s reasons for being there.
- Consumers are increasingly buying online. Almost 60% of Internet users worldwide do so every single week. Social media shopping sites are capturing a growing percentage of those dollars.
- Buyers research brands online through the following mediums, listed in descending order: search engines, social networks, consumer reviews, brand websites. For agents, this indicates that it’s important to maintain searched-optimized websites and actively solicit and share positive client reviews online.
- Consumers’ interactions with brands most often include (in order):
Visiting a brand’s website (44%)
Watching a video
Following a social network
Reading an email or newsletter
Clicking on a promoted social media post
Asking a question on a social network
Reading a blog
Shared a social media post
The more online activity you generate, the more likely you are to create interactions.
- To research brands online, older consumers primarily utilize search engines, while younger ones utilize social media. When crafting digital campaigns, it’s wise to target your messaging to the demographics associated with each particular platform.
- Use of social customer service is growing. Inviting followers to contact you on various platforms regarding service issues is the 2022 version of “meeting customers where they are.”
- Gen Z, the world’s largest demographic, spends an average of three hours on social each day—making it the ideal vehicle for targeting this group.
- You may be surprised to learn that financial services websites—including banking, investment and insurance–rank in the top 20 most-visited types of URLs, higher than health and fitness and lifestyle/fashion sites. Our industry has a place here.
- Video content and podcasts are increasingly popular ways for viewers—especially younger ones—to consume educational content. For agents, it offers a fresh way to educate potential clients about their products and services.
- 23% of Internet users will follow brands they purchased from on social media; 20% will follow brands they’re considering. When followers make positive comments about a brand, it drives purchasing behavior—yet another reason to tend to your social media presence and cultivate positive commentary.
Yes, this is weighty stuff, but the key takeaway is: it’s more important than ever to maintain a vital, engaging presence online. If you’re not on social media, make the leap. If you already are, up your game.
At PALIG, we’re investing in our online/social presence. In fact, one easy way to generate social activity is simply by sharing our Facebook, LinkedIn and Twitter posts, as well as the PALIG podcast. The time to get social is now.