Social media has changed the way we live our lives. From the way we get our news to the way we interact with our loved ones. Social media is everywhere. It’s unavoidable, it’s powerful, and it’s here to stay.
Since 2004, social media has been growing exponentially and it hasn’t reached the peak of its popularity yet. There’s no denying that social media platforms are now a major source of news and information. But that’s not all. Social media platforms are unique in the way they interact with customers. Not only do they provide a platform for users to communicate beyond local and social boundaries, but they also offer countless possibilities to share user-generated content, like photos and videos.
But the question is, is it worth investing in social media when starting your business? Should social media marketing be a focus area for your marketing strategy in 2024? The answer depends on your customers, but in no way should social media marketing be ignored.
With popular social media platforms growing in terms of size, each platform has a unique audience. If you cater your content toward the audience of the social media platform, you’ll be successful.
We thought it would be a great idea to share the most important social media statistics to keep in mind for 2024. Staying on top of the latest social media statistics will help enhance your marketing strategy and plan the interactions of your business with social media.
By the way, here’s a guide on social media marketing that can teach you step-by-step tactics of how you can get sales using social media.
1. How Many People Use Social Media?
The usage of social media around the world is ever-increasing and is, without a doubt, one of the most popular online activities that internet users engage in.
The latest social media statistics show that there are 4.59 billion social media users worldwide in 2022 – and this number is only going to continue growing over the next few years (Statista, 2022). As it stands, that equates to about 57.5% of the current world population.
One of the reasons for the high usage of social media is that mobile and internet possibilities for users are continually improving, which makes it increasingly simpler to access social media, no matter where you are.
Most social media networks are also available as mobile apps or have been optimized for mobile browsing, making it easier for users to access their favorite sites while on the go.
2. Facebook is the Market Leader
Facebook has been shaping the social media landscape since its launch and is continually evolving to meet its users' needs. With over 2.94 billion monthly active users, Facebook remains the most widely used social media platform (DataReportal, 2022). Active users are those who log into Facebook at least once a month. In the US, two-thirds of adults (69%) now report that they are Facebook users. Interestingly, Facebook was also the first-ever social network to surpass the one billion active user mark, reaching this milestone in the third quarter of 2012.
Keeping this social media statistic in mind, you need to know how you can make the best out of your resources. With Facebook currently holding the position of the biggest social networking service based on global reach and total active users, it’s important to know how your content may potentially perform, and how you can optimize your paid and organic reach. If you’re thinking of posting on Facebook make sure you are up-to-date on how their algorithm works so you reach your best audience.
3. Daily Usage by Generation
Social media usage in the United States has been surveyed by industry analysts and the results by generation are interesting, to say the least.
To break it down, with 68.8 million users, millennials are expected to be the most active generation on social media in 2024 (eMarketer, 2023). This number is a 0.44% increase from 2023’s 68.5 million millennial social media users.
Generation Z makes up the second-largest group of social media users in the US, making up 60.7 million people. Like millennials, this figure is an increase from 2023. But at 7.62%, it is a significantly larger one. If your brand’s target audience includes this social media-savvy generation, you might want to dig deeper into their social media habits, including how much time they spend on it and which networks they favor.
This social media statistic shows that young adults continue to be the generation that’s the most active on social media. This is as the number of active users among the older generation, even as they bridge the gap with technology and become increasingly familiar with social media platforms, seems to be declining.
For instance, the 51.2 million Gen X social media users expected in 2024 marks a 1.16% decrease from 2023. The number of baby boomer users is also set to fall by 1.36%, from 36.9 million in 2023 to 36.4 million in 2024.
4. How Much Time Do People Spend on Social Media?
In this day and age, we’re all slowly becoming social media addicts. Whether it’s scrolling down our bottomless Facebook or Instagram feeds on the subway, or posting the perfect brunch photo on Instagram before eating, social media has become inescapable.
The latest social media statistics show that an average of two hours and 25 minutes are spent per day per person on social media (DataReportal, 2021).
As social media is becoming more integrated into our daily lives, it unveils countless opportunities for businesses that are looking to reach out to their audience through social media marketing.
5. Social Media Marketing Benefits
Brands are riding the wave of social media marketing, with more than one in five (21.5%) actively promoting their products and services on Facebook. This makes it the top social media marketing platform, beating out rival networks like Instagram and YouTube.
Brands are continuing to include social media in their marketing strategy—and for all the right reasons. Whether it’s influencer marketing or story ads, they’re trying it all. But what good does marketing on social media bring? According to a recent study, increased exposure is the top benefit—86% of businesses say it’s an advantage of social media marketing (Statista, 2023). This is followed by increased traffic (76%) and generated leads (64%). Having a brand presence on social media can also help to build customer loyalty, highlighted as a benefit by 56% of brands, and finally, increase sales (55%).
That said, measuring the exact social media impact can be difficult, as every platform attracts a distinct crowd and is used for different means. For instance, communicating with friends and family is the main reason Facebook users access the platform. Users of Pinterest, on the other hand, are mostly on it to follow and research brands and products.
6. Customers Are Using Social Media
Social media is growing in terms of its reach and impact, and this statistic is here to show just that. 75% of internet users use social media to research products (DataReportal, 2022).
Many buyers are also on social media networks to look for reviews and recommendations. In fact, 27.9% use social media to find inspiration for things to do and buy, and 23% do so to see what content their favorite brands are posting.
This is why it’s essential to have a prominent online presence on various social media platforms. The key is to find out which social media platform your target market is using most often and how to make the most out of it.
7. The Impact of Positive Customer Experience
At this point, it’s no surprise that social media marketing is essential for your business. One of the ways that your business could benefit from social media marketing is by providing the best possible customer service.
The idea here is to manage your online presence and make sure that you keep in touch with your audience through social media platforms. This includes responding to comments, mentions, and messages. 71% of consumers who have had a positive experience with a brand on social media are likely to recommend the brand to their friends and family (LYFE Marketing, 2018). By interacting with customers through social media platforms you show them that you care. This step could go a long way in terms of building positive relationships with customers. So, don’t ignore your followers and try to get back to them in a timely manner.
8. UGC Trumps Influencer Marketing
The influencer marketing market has been expanding over the past few years and is currently worth $21.1 billion. In the US alone, businesses are expected to spend $5.62 billion on collaborating with influencers.
Huge as it is, there are challenges that come with it, and recent data shows that old-fashioned user-generated content (UGC) appears to be more trustworthy in the eyes of consumers. According to a recent survey, as many as 86% of respondents say they would trust a brand using UGC more than one using influencer marketing (EnTribe, 2023).
Trust isn’t a factor brands can afford to ignore as it has the power to extend to sales and revenue. The same survey results show that more than four in five (83%) of consumers say they would rather purchase from businesses sharing real customer content on their social media accounts.
9. Instagram Stories Usage
Stories are a big deal on Instagram. And they're essential when it comes down to how to get Instagram followers. They let you share the moments of your day, without saving them to your profile. The following social media statistic shows us the number of daily active Instagram Stories users, which has increased from 150 million in January 2017 to 500 million in January 2019 (Statista, 2019).
There’s a bunch you can do to make your Instagram stories more engaging, such as adding questions, polls, and fun stickers or music to make your content as unique as possible. Instagram stories invite brands to the possibility of higher creative freedom which might help their campaign become a success with their audience.
10. Social Media Users Via Mobile
The demand for mobile-friendly content across social media sites is rapidly increasing, and justifiably so. 91% of all social media users access social channels via mobile devices. Likewise, almost 80% of the total time spent on social media sites occurs on mobile platforms (LYFE Marketing, 2018).
Smartphones and social media are evolving side by side, and your brand should make sure to keep up. Mobile-friendly interfaces are the way forward, and if you’re marketing online you need to make sure that your content and layout are optimized for mobile. And why not? People take their smartphones everywhere with them. If you want to be accessible, you have to keep mobile in mind.
As you can see from these social media marketing statistics, different platforms can serve different purposes. You’ll have to be the judge of which social media platform contains your target audience which you want to market toward, and this could help shape your social media marketing plan. Use these social media stats to get better insights into the world of social media, and how you can maximize your results using these tools.
Summary: Social Media Statistics
Here’s a summary of the Social Media Statistics for 2024:
- There are currently 4.59 billion social media users worldwide.
- Facebook is the most popular social media platform.
- Millennials form the largest group of social media users in the US.
- Users spend an average of two hours and 25 minutes per day on social media.
- Increased brand exposure is the top benefit of social media marketing.
- 75% of internet users use social media to research brands.
- 71% of consumers who have had a positive experience with a brand on social media are likely to recommend the brand to their friends and family.
- 6% of consumers trust brands that use UGC over influencer marketing.
- 500 million daily active Instagram stories are uploaded worldwide.
- 91% of all social media users access social channels via mobile devices.
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Is there anything else you’d like to know about social media statistics and wish was included in this article? Let us know in the comments below!