Social media is no longer optional for businesses; it’s a vital tool for connecting with customers, gaining insights, and growing your brand. With over 4.2 billion active users worldwide, social media provides an unparalleled opportunity to reach and engage with audiences. If your business isn’t leveraging social media as part of its digital marketing strategy, you’re missing out on a fast, cost-effective way to connect with nearly half the global population. Now is the time to consider not just maintaining your social presence, but actively strategizing how to maximize its potential.
The Value of Social Media for Business
Social media is evolving into the primary channel for customer interaction. In fact, 90% of executives believe it will soon overtake other forms of communication. Additionally, 91% of business leaders expect social media marketing budgets to increase over the next three years because of its proven impact on ROI.
Successful companies recognize this and rely on dedicated social media teams to handle everything from content creation to trend management. However, the rapid pace of change in social media can feel overwhelming, with new trends and platform updates emerging regularly.
What’s Next for Social Media?
The future of social media is bright, and staying ahead means understanding the latest trends and capitalizing on them. As users become more engaged and platforms continue to grow, the potential for businesses to connect with their audiences is greater than ever. Let’s explore how social media is changing, what platforms are thriving, and how consumers are more hooked than ever. Stay informed, stay relevant, and let social media be the bridge to your business’s success.
If you’re looking to enhance your social media marketing strategy, understanding key industry statistics is an excellent place to begin. Social media stats provide valuable insights into your audience’s demographics, interests, and behaviors, while also shedding light on industry trends. This information allows you to tailor your strategies to increase engagement and improve ROI. Additionally, these statistics help you benchmark your performance against competitors and identify new opportunities for growth. Leverage the social media marketing insights below to shape your approach and thrive in 2024 and beyond.
Social Media Usage and Advertising Insights
It’s no surprise that we’re all deeply connected to social media—my screen time proves it! To understand just how prevalent social media usage has become, let’s dive into some key statistics and trends shaping the landscape. In 2024, the number of social media users worldwide is estimated to reach an impressive 5.17 billion. On average, users engage with 6.7 different social networks monthly. While the time spent on social media has slightly declined to 143 minutes per day, platforms like TikTok continue to experience explosive growth, with a 100% increase in users between 2020 and 2022 and a 13% rise in monthly active users between Q3 2022 and Q3 2023. The global social media user base also grew by 320 million from January 2023 to January 2024.
The Growing Importance of Paid Advertising
As organic reach diminishes across platforms, paid social media advertising has become essential for targeting audiences effectively. In 2024, total spending on social media advertising is projected to hit $219.8 billion, with mobile ads accounting for a staggering $255.8 billion by 2028. Ad spend is expected to grow by 6.1% in 2024, representing 28.8% of all digital advertising expenditures. Businesses are dedicating about 8.7% of their total revenue to social media ads, making it crucial for brands to allocate larger budgets for competitive paid strategies.
The Multi-Channel Approach
While platforms like TikTok are surging ahead, social media users are dispersed across multiple networks, making a multi-channel strategy more important than ever. Leveraging emerging platforms like TikTok can help brands connect with new audiences and differentiate themselves in a crowded market. Social media’s steady growth underscores its massive potential for marketers and advertisers to engage audiences and drive results. By understanding these trends and incorporating them into your strategy, you can maximize your impact and stay ahead in the ever-evolving social media landscape.
Facebook Statistics
Facebook continues to dominate as an advertising powerhouse, though its relevance for brands depends largely on individual metrics and audience insights. The following statistics highlight why Facebook remains a top choice for marketers: Facebook is the most-used platform by marketers globally, with 89% leveraging it for their campaigns, followed by Instagram at 80%. As of Q3 2023, Facebook boasts 3.05 billion monthly active users, making it the largest online social network. The average American spends approximately 31 minutes per day on Facebook. 56.3% of Facebook users are male, while 43.7% are female (based on available gender data). Nearly 25% of Facebook users in the US fall within the 25–34 age group. Facebook’s massive reach and appeal to marketers come as no surprise. Its user demographics, particularly the growing number of decision-makers and professionals in higher-level roles, make it a prime platform for targeting influential audiences and driving results.
Instagram Statistics
Instagram remains a dominant force in social media, with 2 billion monthly active users, making it a top platform for brands aiming to grow their presence. Here are some key Instagram statistics: Instagram ties with Facebook as the platform offering the highest ROI for marketers. In the US, 27.4% of Instagram users are aged 25-34, while globally, 61.1% of users are between 18-34, with the majority identifying as male. Instagram Reels generate higher engagement through likes and saves compared to regular posts, though they tend to receive fewer comments. Engagement rates on Instagram are four times higher than Facebook (0.60% vs 0.15%), but competition for engagement continues to increase. In 2023, 43% of marketers planned to boost their investment in Instagram. While TikTok is providing stiff competition, Instagram’s strong engagement rates, innovative e-commerce features, and substantial ad spending ensure its position as a key platform for brands. Its future remains bright as marketers continue to capitalize on its potential.
LinkedIn Statistics
LinkedIn has solidified its position as the leading professional network, offering unparalleled opportunities for B2B brands. Its rapidly growing ad platform further highlights its value for marketers. Here are some key LinkedIn statistics: LinkedIn boasts over 1 billion members across 200 countries. The United States leads in user numbers, with a reach of over 214 million. There are more than 67 million company profiles on the platform. 60% of LinkedIn’s global user base falls within the 25-34 age range, making it the dominant demographic. Driven by significant career shifts in recent years, LinkedIn continues to grow rapidly. For B2B businesses, now is the ideal time to enhance your LinkedIn marketing strategy and tap into its vast potential.
Pinterest Statistics
Pinterest is often underestimated as a social platform, but its highly engaged and diverse audience makes it a valuable tool for marketers. Here are some key statistics to consider: Pinterest has 482 million monthly active users. 76.2% of users are women, 17.2% are men, and 6.6% are unspecified. In December 2023 alone, Pinterest.com recorded nearly 1.2 billion visits across desktop and mobile devices. Pinterest is the third-most visited social media platform in the US. 80% of weekly users discover new brands or products on the platform. Pinterest’s advertising potential is well-documented, making it a go-to platform for marketers aiming to connect with a highly engaged audience. For brands targeting US consumers, Pinterest offers an excellent opportunity to showcase products and build awareness.
TikTok Statistics
TikTok has evolved into a must-have platform for brands, offering unparalleled opportunities to connect with its massive and highly engaged audience. Here are some key TikTok statistics to consider: TikTok is projected to surpass 2 billion users in 2024. It’s the most frequently used app globally, with Android users spending an average of 34 hours per month on the platform. The user base leans slightly female, with 48% identifying as women (based on available gender data). 36.7% of TikTok users are aged 18-24, making this demographic the largest share of its advertising audience. TikTok is the second-most used video entertainment app by monthly active users. Currently dominated by younger consumers and smaller influencers, TikTok is rapidly changing the digital landscape. Brands on the platform should closely monitor their analytics to fine-tune strategies and reach their target audience effectively.
X (formerly Twitter) Statistics
X, previously known as Twitter, remains a hub for political discussions, memes, and brand interactions. Here are some key statistics to understand the platform’s marketing potential: X has approximately 619 million monthly active users globally. 53% of users rely on the platform to access the latest news. US adults spend an average of 34.1 minutes per day on X. 63% of users identify as men (based on available gender data). While 33% of users plan to spend less time on X in 2024, the platform continues to show signs of growth despite recent uncertainties. Marketers shouldn’t overlook X as a viable platform for reaching engaged audiences, especially as its influence in news and discussions remains strong.
YouTube Statistics
As the second-largest search engine globally, YouTube is evolving to compete with platforms like TikTok. Here are some key YouTube statistics to keep in mind: As of January 2023, YouTube has nearly 2.5 billion users worldwide. YouTube Shorts attracts 2 billion monthly active users. The platform’s largest gender segments are males aged 25-34 (12.2%) and 35-44 (9.6%) (based on available gender data). On Android devices, users spend an average of 28 hours and 5 minutes on YouTube each month. Nearly 90% of all YouTube visits are from mobile devices.Despite increasing competition, YouTube remains a top destination for video sharing and consumption. With the growing popularity of mobile access and short-form, vertical content like Shorts, marketers can leverage these trends to maximize their reach and engagement on the platform.
Social Media Video Statistics
Video remains one of the most popular and effective content types, offering unmatched versatility, engagement, and ROI for marketers worldwide. Here are some key social media video statistics: 44% of people prefer short videos to learn about new products or services. 87% of marketers report that video marketing has directly boosted sales. Short-form video delivers the highest ROI of any social media strategy, with 30-60 second videos performing best. US video advertising is projected to grow from $76.97 billion in 2023 to $84.61 billion in 2024. Video is now a cornerstone of marketing strategies across industries, with short, entertaining, and humorous content driving the best results. As video content continues to evolve, brands have endless opportunities to connect with audiences in creative and impactful ways.
Influencer Marketing Statistics
Collaborating with influencers has become one of the most effective inbound marketing strategies today. Here are some key insights into how marketers are leveraging influencer marketing and their plans for the future: 50.1% of marketers rate TikTok as the platform with the highest ROI for short-form video influencer content, followed by Instagram Reels (29.9%) and YouTube Shorts (12%). TikTok leads as the most popular platform for influencer marketing, used by 69% of marketers. The top three goals for influencer collaborations are driving engagement, reaching new audiences, and building stronger communities. 60% of marketers plan to increase their influencer marketing budgets in 2024. 63% of marketers intend to integrate AI into their influencer campaigns, with 55% planning to use AI tools for identifying the right influencers. The growing popularity of influencer marketing underscores its potential to boost brand visibility and engagement. For brands not yet utilizing influencers, now is the time to explore this strategy.
Success lies in selecting the right platforms and influencers for your audience—an approach increasingly streamlined by AI tools.
Consumer Behavior Statistics
Social media has long influenced consumer purchasing decisions, from product recommendations to brand impressions. Here are some key consumer behavior insights: 56.1% of internet users make an online purchase at least once a week. 29.9% of internet users buy products using their mobile devices weekly. 51.2% of consumers research brands online before completing a purchase. Top drivers for online purchases across all age groups include free shipping, discounts or coupons, and easy return policies. The rise of direct social sales highlights the growing importance of authenticity and ads that feel natural. To succeed in this space, brands must deeply understand their audience, including preferred platforms and unique purchasing behaviors, to craft strategies that resonate and drive conversions.