Social Media has quickly become one of the world’s go-to tools for business development and personal connectivity. Millions of people worldwide regularly utilize it to stay in touch with friends, companies, and interests they care about. If your new company is considering making use of Social Media as part of its development strategy, here are 10 stats you need to be aware of regarding its usage.
Most of the world is now on Social Media
Social media is expanding globally and connecting people from various places, age groups, races, and nationalities. Eighty-four percent of those related to the internet also make use of social media.
Social media’s rapid expansion has increased access to platforms across many realms of society, from smartphones, tablet computers, mobile phone Internet use, and smartphones themselves to its use by many countries like India and China, which have seen remarkably rapid increases in use across their populations due to advances in technology as well as population increases.
Of all of the top 10 statistics on social media, this one stands out. As digital media becomes increasingly popular, more users join Facebook and Twitter each day.
Time spent on Social Media is nearing saturation
Social media usage is increasing at an unprecedented pace, particularly among 16-24-year-olds who spend on average three hours daily using these platforms – most likely due to all its components that supplement it.
Social Media is interwoven with our daily lives
A day you’re without social media it can feel like losing something you treasure most. Now accessible via both mobile apps and the web, nearly 99% of those who access social media at least once each year – with popular networks such as Facebook, Instagram, Pinterest, LinkedIn, Twitter, and Snapchat being just some examples – most users access at least eight platforms simultaneously!
Social Media has quickly become an invaluable resource for sourcing potential purchases online. Customers are also often inspired by what their favorite influencers on social media are up to, hence the rise of influencers on these platforms in recent years.
Videos still top media on Social Media
Video content remains the #1 content preference when it comes to social networks. 9 out of 10 users claim they watch at least one movie each month, while 60 out of every 100 have watched videos across various social platforms in the last month alone – so if you aren’t sending out Vlogs and Videos yet, make sure you do!
Social Media advertising is increasing
Social media advertising is on an upward trend, reportedly costing $20 billion in 2020 alone – making this an opportune moment to engage. This growth can be attributed to digital platforms and changing content consumption habits; 27% of consumers have made purchases after seeing social media ads!
Advertising will only become increasingly competitive for businesses and companies as time progresses, yet early participation can yield positive results for both. Effective strategies such as audience targeting and producing appealing content are essential in engaging your target audience and keeping their attention.
Instagram Statistics
Instagram continues its daily and monthly growth at an astonishing pace, now boasting over 1 billion active user profiles worldwide – from businesses/companies and everyday users alike. Of its monthly users, half engage with Stories as an integral component of exploring this platform.
Businesses and companies alike have found success using Instagram; an astounding 92% of users have either followed a brand, clicked on its website link, or made purchases after being inspired by stories or posts, underscoring its financial potential. Instagram’s popularity as an advertising platform has also grown over the years – it now serves over 900 million users annually!
Facebook Statistics
With over 2.5 billion monthly users and counting, it stands alone as the leader in social media platforms.
Facebook has become an effective marketing platform, cementing this position further through the purchase of Instagram several years ago and further strengthening it as an advertising medium. Ads placed on this platform may reach over 1.95 billion individuals – 32% of the global population!
At present, there are 140 million active business accounts globally, and paid advertising on Facebook has seen exponential growth: now used by over 26% of businesses!
Twitter Statistics
As the hashtag creator, Twitter remains one of the leading social media platforms and one of the most profitable, with over $1 billion generated in revenue–an impressive 11% growth versus last year despite the perceived decline.
Twitter boasts an international user base, but 20% reside within the US market – making it an attractive platform for those hoping to penetrate this lucrative market. Aside from revenue potential, Twitter remains one of the 6th most-visited websites on the internet.
Check out this article from Hootsuite. For an estimate of Twitter’s performance in 2023, take a look at this.
YouTube Statistics
Its growth as a media consumption platform cannot be overstated, drawing more than 2 billion monthly visitors and providing businesses and brands with numerous marketing opportunities, leading them to produce an avalanche of advertising content on YouTube.
YouTube’s growing advertising sector has significantly altered customer journeys; specifically, 80% of customers who made purchases through YouTube engaged with some form of prior content before making a purchase decision.
LinkedIn Statistics
LinkedIn has emerged as a premier business-oriented social media platform, with 675 million monthly active users and adding two new members every second. It is becoming an increasingly popular recruitment, marketing, and advertising resource.
Marketing, Lead Generation, and Recruitment are the three primary markets on LinkedIn due to its 30 million+ active companies. Lead Gen and Marketing on LinkedIn hold enormous importance for most businesses; 89% of B2B marketers utilize it specifically for lead gen purposes.
To Conclude
Social Media is an increasingly effective means to drive more significant revenue for your company, but as these stats demonstrate, it is also highly competitive, and success is dependent on standing out from the pack. Remain persistent, and you will see results eventually.
If you’re curious about the latest social media trends and want to expand your reach while being creative with lead generation, check out these two blog sites below!
Be innovative when it comes to lead generation! Get more leads by being resourceful.