Essential Social Media Statistics in 2024 for Marketers

Social media has become a big part of our lives, so it’s no surprise that everyone’s curious about how trends on each platform work, right? As we can see, we all talk about social media insights these days. But with so much information out there, not every insight is spot-on. One solid way to figure out what’s real is by looking at the numbers – after all, numbers don’t lie!

Statistics. That’s where we come in. In this article, we’ve got a list of the latest social media trends, evidence-backed strategies, and insights. Remember that staying updated with these insights can really amp up your online marketing game. Ready to dive into the Top 5 social media trends? Let’s get started!

Top 5 Overall Social Media Trends for 2024 

1. In 2023, an estimated 4.9 billion people use social media across the world

Believe it or not, the number of people who use social media across the world hasn’t stopped growing, and most recently, it has reached a record of 4.9 billion people already. However, the number has the potential to not stop just there, and it will likely reach approximately 5.85 billion users by 2027.

What’s more interesting is these users usually aren’t tied to only one platform, most of them use around six to seven platforms every month, so this is very good news for online marketing people as it increases the chance of brand recognition!

2. The most common way people access social media is a mobile device

In the 21st century, social media isn’t just on our personal computers anymore; it’s right in our hands – on our mobile devices! (Chances are, you’re holding one right now.) Believe it or not, 99% of social media users are connecting via tablets or smartphones, with 78% exclusively using their phones.

So, what’s the takeaway from this trend? It’s crystal clear: prioritize mobile-focused social media strategies and ensure your website is optimized for both desktop and mobile experiences.

3. The average person spends about 145 minutes on social media every day

It’s not an exaggeration to say that nowadays, most people spend as much time on social media as they would watching a feature-length film. The statistics reveal that the average person spends around 145 minutes on social media every day. If you can’t think of how much that is, imagine a person has a lifespan of 73 years, that means they would have spent approximately 5.7 years of their life on social media platforms – that’s quite a significant amount of time!

However, it’s important to note that this number might vary based on their geographic locations. 

4. Facebook is the most used social media platform worldwide, it currently has 2.9 million monthly active users

Among all the social media platforms out there, Facebook takes rank number one with its 2.9 billion monthly active users, closely followed by YouTube with 2.5 billion users. Then, the list continues with Whatsapp, Instagram, WeChat, and TikTok, in that order.

Looking at this lineup, it’s no surprise that the United States and China dominate the social media industry as popular social platforms are from these two countries.

5. The valuation of the social media app market in 2022 was more than 49 billion dollars

The social media app market was valued at over 49 billion dollars in 2022 – that’s a huge number, right? And guess what? It’s not expected to stop there. With the widespread adoption of 5G technology globally, experts predict a compound annual growth rate of 26.2% from 2023 to 2030. 

Of course, that means big changes are on the horizon for social media platforms and online marketers alike. We all need to adapt and evolve to keep up with this rapid growth.

Now that we’ve covered some facts and figures about the social media world, let’s dive deeper and explore the statistics from each platform. This way, your business plan can be even more specific and targeted. Ready to sharpen your strategies?

TikTok Takeover: Capitalizing on Short-Form Video Trends 

Recent reports indicate that TikTok’s user base has already surpassed 1.5 billion

Back in 2017, TikTok had 100 million users. However, it took only five years for its number of users to climb up and reach 1.6 billion in 2023 – talk about impressive growth!

In the first quarter of 2023, TikTok registered a revenue of 2.475 billion dollars

During the first quarter of 2023, TikTok generated a revenue of 2.475 billion dollars. Of course, this success is attributed to various factors, including the platform’s expanding user base and in-app advertisements. As you may have seen, many advertisers nowadays are flocking to TikTok to connect with younger audiences who are spending more time on the platform.

What can we learn from these statistics? Simple: don’t shy away from creating short-form content! 

Here are some tricks when making short-form videos: start strong with a compelling hook, use on-screen text and visuals to help your storytelling, and focus on creating an emotion that resonates with viewers even after they’ve finished watching your videos.

Instagram Trends: Navigating the Latest Features 

Reports show that Instagram ranks second as the most popular platform for customer service

In this day and age, it’s no surprise that people turn to social media accounts for support, and Instagram is their second choice. Studies reveal that 35% of consumers in the United States prefer Instagram for customer service. 

Seeing an Instagram ad can actually make people interested in a brand

Here’s some good news for businesses: seeing an ad on Instagram actually piques people’s interest in a brand. According to internal Instagram data, 50% of users become more interested in a brand after seeing its ad on the platform.

Instagram has the highest cost per click (CPC)

However, it’s important to note that Instagram advertising is competitive, reflected in its high cost per click (CPC). Compared to other social media platforms, Instagram has to pay $3.56 per click.

But don’t be discouraged by these statistics! There are plenty of ways to enhance your Instagram marketing efforts: make an official Instagram business account, showcase your brand identity through eye-catching images, encourage user-generated content, and utilize Instagram stories, which quite have an impressive reach rate, among other strategies.

Facebook Advertising: Trends You Can’t Ignore 

Facebook’s potential advertising reach is 2.08 billion people

Since Facebook is the most used social media platform worldwide, it correlates with its potential advertising reach because Facebook also ranks at number one. So, if you’re looking to boost your brand recognition, incorporating Facebook into your marketing strategies is a must.

Facebook ad revenue is expected to grow to $75.11 billion in 2024

Although there have been a few revenue drops in 2022, many experts predict that there will be a positive shift, rising to $71.32 billion in 2023 and then surpassing $75 billion the following year.

Facebook’s social commerce is also continuing to grow

Yes, Facebook’s social commerce is also thriving. Although the percentage of users who are also purchasers on their online platform is tied with Tiktok, don’t forget that they have many more users, so Facebook’s number wins clearly at an estimated 63.5 million buyers in 2022. What this shows is many people consider Facebook as their preferred place to shop.

Now you know that Facebook is a goldmine for your business to grow. If you want to create successful Facebook campaigns, remember you can target your ads by location, gender, interests, age, behaviors, or their connections on the platform. All in all, knowing your target audience’s demographics will help a lot in increasing your conversion rate.

Twitter Engagement Hacks: Boosting Interaction

More than half of Twitter’s users are between 25 and 49 years old

We all may have guessed that Twitter users tend to be used by younger people, but that’s not their largest user base. Here’s the age breakdown statistics: 13 to 17 years old make up 6.6%; 18 to 24 years old are 17.1%; 35 to 49 years old are 20.7%; and users aged 50 and above are 17.1%. Meaning that 59.2% of users are between 25 and 49 years old.

Tweets have the shortest lifespan of any social media post

Unfortunately, there is a downside of Twitter too. Tweets on Twitter have the shortest lifespan among social media posts, lasting only about 18 minutes on average. This means your message tends to get buried very quickly. Therefore, the more you tweet, the higher engagement you’ll probably receive.

Twitter is one of the most fast-paced platforms out there, so keeping an eye on trending hashtags can be beneficial. However, be cautious not to force irrelevant hashtags, as it may backfire. Alternatively, consider creating unique hashtags for your business campaigns to stand out and make a lasting impact.

LinkedIn Marketing: Trends for B2B Success

Explore B2B marketing opportunities on LinkedIn

LinkedIn is one of the greatest platforms with numerous B2B marketing opportunities. Statistics even said that a whopping 70% of potential B2B buyers say LinkedIn is one of the most trusted sources of relevant information.

Over 9 million users have turned on LinkedIn Creator Mode

Creator Mode on LinkedIn has garnered immense interest, with over 9 million users activating it since its launch at the beginning of 2021. For those who still don’t know what it is, when you enable Creator Mode, LinkedIn optimizes your profile for content publishing, making your articles and posts more visible to users – this feature could be really beneficial to marketers.

LinkedIn is an interesting social media platform with vast room to grow. Now is the perfect time to dive into LinkedIn marketing. Utilize LinkedIn’s tools, including Creator Mode and Audience Network, to enhance your reach and connect with new audiences effectively.

YouTube Strategy: Navigating the Video Landscape

YouTube’s video ideal length is around 11.7 minutes

According to Statista’s report, the average YouTube video length is 11.7 minutes. Experts also suggest that videos between 7-15 minutes generally perform better. However, this depends on your content format and genre, as there are many channels whose longer videos are well-received too.

YouTube is the second-largest search engine

Most people think of Google first when they are trying to search for something. However, it might surprise you that YouTube is the second largest search engine, right after Google. This means when people are looking for specific topics, they often head straight to YouTube, resulting in more than 3 billion searches a month on YouTube. 

If you have no idea what to do, these statistics can guide you in your initial steps. Consider creating videos between 7-15 minutes long.

Moreover, now that we know YouTube is the second largest search engine, optimizing your marketing videos for search could be crucial to your success. It will help you rank higher in search results and reach a wider audience.

Elevate Your Social Media Game with These Stats

Standing out in the social media game for your business isn’t an easy job at all. While it’s crucial to expand your reach across various platforms, diving into too many right from the start can be overwhelming. Begin with a few platforms that align with your target audience.

As you grow, keep refining your marketing plan. Remember, statistics are helpful but they are not everything. Don’t hesitate to experiment and observe the results. It’s all about seeing what works best for your own business goals!