When speaking with prospective clients about ways that we can help to grow their online presence, the vast majority will tell us that earning more website traffic is a top priority. However, implementing a strategy to drive more traffic to your website is not enough. You need to also find a way to engage visitors when the arrive on your website and turn them into paying customers.
It's human nature to seek validation from our peers, and thanks to social media, this innate characteristic that we all possess has been amplified. Whether we want to believe it or not, there's still something in us that wants to have the latest and greatest item to hit the market that will be the envy of our friends, whether it's a new pair of kicks or a savvy smart bike that allows us to take fitness to a whole new level. In today's digital world, the "cool" kids that are showing consumers the products and services that they need to be jonesing for are the social media influencers.
We've talked about the massive cord-cutting movement where consumers are dropping their traditional cable and satellite TV services and are instead moving to online streaming platforms such as Netflix, Hulu, and YouTube TV to watch video content. In fact, by the end of 2018, it's projected that 33 million consumers will have scrapped their traditional pay-TV service. In addition, more consumers than ever are paying to stream music content using services such as Spotify and Pandora or are using a paid Satellite radio subscription.
When establishing a social media presence for your business, making Facebook part of the equation is a no-brainer. However, upon missing revenue projections for two quarters in a row, the social media giant recently unveiled a new strategy that will impact the future of the platform on its recent 2018 third-quarter earnings call. Since these changes will have a direct impact on your ability to effectively promote your business on Facebook going forward, it's critical that you're in the loop with the new direction that Facebook is taking.
If you want to succeed with content marketing and position your business as a thought leader in its industry, you can't always produce content that is intended for a broad audience. The real value that you provide to your customers through content will come from tailoring your message to a specific audience.
No one can deny the rapid rise of video content on online platforms. More than 22 million consumers have cut the cord with their cable and satellite TV packages and are choosing to use online streaming platforms such as Netflix, Hulu, and YouTube TV to watch their favorite shows. By eliminating the need for a cable or satellite company as a content distributor, consumers are able to save money and stream content from anywhere at anytime, including on their mobile devices.
As the year is winding down, businesses are ramping up their online presence in preparation for the holiday marketing season. While there is no official start date for when businesses begin running their holiday promotions, the trend in recent years has been to start campaigning on November 1.
Facebook has been in the spotlight a lot throughout 2018, and the press has not always been positive. The social media giant has been under scrutiny for its privacy protocols and has had to revamp its advertising platform to give peace of mind to users that their private information would not be compromised.
It's no secret that the demand for video content is on the rise. As of 2018, consumers are viewing more than 500 hours of YouTube videos each day. Approximately 85 percent of American consumers that use the internet watch video content online. In fact, one-third of all online activity is spent watching videos.
For many businesses (especially those in the retail sector), the last quarter of the year is when the most sales are generated. If you didn't take our advice back in August and start planning your 2018 holiday marketing campaign, you still have time to put together a strategy to end the year strong.