How Big Is The Social Network Market?
I was reading a 4th June 2010 report by Chris Crum in Webpronews with the headline “StumbleUpon Reaches 10 Million Users“. Congratulations StumbleUpon! Apparently they are having a party on June 17th to celebrate.
Actually it wasnt the headline that struck me nor the fact that StumbleUpon reported 118% growth since 2009, but what did strike me hard was this StatCounter chart that Chris included in his report.
There’s Facebook doing an imitation of a ski slope! No that wasnt it but that collapse in market share starting Dec 09 is dramatic … as is the StumbleUpon meteoric rise starting the same month. I’m not going to discuss the ins and outs of why Facebook members fled in droves for StumbleUpon and to a lesser extent Twitter but while I was doing my sums it hit me how massive these numbers were and this chart is only the Top 7!
I did a little research and came up with the following from Wikipedia … ok I know I tell my kids to be careful of Wiki when they are doing their homework but its a starting point and gives a picture of the scale of this think called Social Networking!
I counted … 69 social networking sites with memberships of over 1 Million each with a combined total membership of … 2.5 BILLION!!!
Can you imagine that … a potential market of 2.5 BILLION!!!
Yes, I know we cannot assume 2.5 billion memberships is 2.5 billion people and we definitely cannot assume that the majority of them would want your product … but hey, I’d be happy with a fraction of a percent of that number!
Mike Dillard has some pretty amazing insights into marketing to social media in his amazing new TrafficFormula2 course and you can get a FREE introduction to Mike’s
Magnetic Sponsoring series of training programs to the right of this article. Just click on the MagneticSponsoring image or CLICK HERE.
For those of you who absolutely want to dive in and capitalise on a 2.5 BILLION potential market I can strongly recommend TrafficFormula2. You can get it HERE.
