Revisiting the Big Data-Unlocking new markets

Close to half a billion new social media users. 1.3 billion years spent using the internet. Trillions of dollars spent on ecommerce.

I stumbled upon this report from datareportal.com, and would be keen to witness the digital impact it will make on the business decisions which the global corporates should act upon.

The next billion unconnected audiences will be led by the Asian markets.

With millions of people still unconnected, vast opportunity lies ahead.

Not only for the mobile or social media platforms but to the entire data ecosystem.

Excerpts from the report;

• Population: the world’s population stood at 7.83 billion at the start of 2021. The United Nations reports that this figure is currently growing by 1 percent per year, which means that the global total has increased by more than 80 million people since the start of 2020.
• Mobile: 5.22 billion people use a mobile phone today, equating to 66.6 percent of the world’s total population. Unique mobile users have grown by 1.8 percent (93 million) since January 2020, while the total number of mobile connections has increased by 72 million (0.9 percent) to reach a total of 8.02 billion at the start of 2021.
• Internet: 4.66 billion people around the world use the internet in January 2021, up by 316 million (7.3 percent) since this time last year. Global internet penetration now stands at 59.5 percent.
• Social media: there are now 4.20 billion social media users around the world. This figure has grown by 490 million over the past 12 months, delivering year-on-year growth of more than 13 percent. The number of social media users is now equivalent to more than 53 percent of the world’s total population.

Business which form the data ecosystem not only the ecommerce or the social apps, reaching out for the banking or for virtual education, the growth is evident in the coming years to come.

To focus on Asia should be the first priority instead of just focusing on the developed countries. Surprisingly, if we see North Korea is totally away and is lagging on this; aside African markets are the market to be for the internet service providers commanding higher tariffs and connecting the dots.

Though streaming apps like #Netflix #Disney #Hotstar #Amazonprime or #Youtube are the top video streaming apps, the opportunity is manifold unlocking values not only for customers but to the shareholders too.

Growth of #Facebook can be in leaps and bounds if the growth markets are focused and not only retaining the market share in the existing rolled markets.

Customers specially form the age group 16-24 yrs use search engines and social networks equally, this can pose threat to search engines and can create new opportunities for social networks to start building an early loyal audiences.

Social networks needs to work harder to gain attention by the audiences which are above 35 yrs and more, this as Search engines have been the key drivers for driving sales and acquisitions.

How important for a brand is to maintain an omnichannel, the first interaction with a potential customer is its website and followed by brand videos.

Cloud businesses have a growth trajectory as the customers are accessing data not only on laptops but are using multiple devices to access information. A robust infrastructure is the perquisite to win over the customers trust and confidence.

With the above data the highest convertors are the search ads and followed by social ads..do we see a shift if the brand has a better story to share over video contents. The digital ads spends have grown manifold still the market is still be fully explored.

Customers are unlocking new information not only on search or social platforms but also they are researching on web but making offline purchases or vice a versa.

The web ecosystem is showing immense value to all the stake holders and audiences are just a part of it, the transformation is just taking off across all continents...Its time to get the right marketing strategy to takeoff for the unicorns as well as new startups.

Adapted from https://datareportal.com/reports/digital-2021-global-overview-report

Digital 2021 reports series – published in partnership between We Are Social and Hootsuite