This document provides 17 key social media statistics that are important for businesses to know in 2016. Some of the key points include that 74% of consumers rely on social media for product information and reviews, 50% of consumers have made a purchase based on a social media recommendation, and 95.8% of social media marketers said Facebook produced the best return on investment. It also mentions statistics around different social media platforms, mobile usage, customer service, and more.