Social networks and social media platforms have become integral to most people's lives today. These platforms have transformed how people interact, consume, and communicate information with each other through websites or mobile devices.
Social media platforms like Snapchat, TikTok, Instagram, Messenger, YouTube, LinkedIn, Facebook, Whatsapp, and Twitter are not only for messaging, connecting users, and advertising. Social media sites significantly impact how businesses market, engage with customers and operate because of their broad reach and massive influence on modern society.
Unbeknown to many social media users, social media sites connect businesses with their target demographics, predominantly gen Z and millennials. Additionally, social media platforms provide insights into internet users and significantly impact every aspect of one's business. These include customer care, marketing strategy, sales, recruitment, and research efforts, to name a few.
This article will explore internet user trends and vital social media statistics that emphasize the impact of social media platforms on businesses. It will also delve into how the most popular social media platforms give business owners better insights into social media marketing efforts.
From the significance of social media in customer service to the rise of influencer marketing, this article also explores various ways businesses can utilize different platforms. It will also touch on how social media strategies drive growth and enhance the bottom line for companies worldwide.
This article will provide valuable insights to business owners, marketers, or persons interested in the latest social media trends. These include the ever-evolving social media landscape and how it affects businesses worldwide.
Key Takeaways
- Social media platforms have become integral to almost every aspect of a business's success journey. These include brand visibility, customer engagement and service, and driving revenue.
- Businesses must use Facebook, Instagram, TikTok, and YouTube to get the most brand exposure and customer engagement.
- High-profile influencer endorsements are among the most effective ways to build trust in your brands and drive revenue.
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Better Brand Visibility
Social media usage is so popular among people today that businesses now have an easier time increasing their brand visibility. As of 2021, the world’s population of active social media users reached 4.26 billion. Projections state it may hit 6 billion by 2027.
Facebook, in particular, had a monthly active user count of roughly 2.96 billion during the fourth quarter of 2022, making it the most-used social network worldwide. Facebook users exceeded 2 billion active users during the second quarter of 2017. This milestone took 13 years to reach since its launch in 2004. To compare, Google-owned YouTube took about 14 years, while Meta-owned Instagram took about 11 years to achieve this milestone.
Facebook is one of the most visited websites in India, with about 330 million users as of the first quarter of 2022. By comparison, the United States only ranks second in the number of social media users that use the social media network, with approximately 179 million users.
Other notable countries where Facebook is popular include Brazil, Indonesia, the Philippines, and Mexico. Surprisingly, Japan was in the lower half of the top ten countries regarding the number of Facebook users, along with Thailand and Pakistan, as of 2021.
Aside from Facebook, most people also use other social media platforms like Pinterest, Instagram, and TikTok. These platforms are essential for businesses to maximize exposure and gain brand visibility.
The fourth quarter of 2022 saw the number of Pinterest users reach 450 million monthly active users or MAUs worldwide. That was a significant increase of five million users since the previous quarter that same year.
In 2021, the monthly active Instagram users reached 1.21 billion, which makes up over 28% of internet users worldwide. Experts forecast that the Meta-owned platform will see 1.44 billion monthly active users by 2025, about 31.2 percent of the global internet user base.
In the same year, a significant spike in TikTok users worldwide reached 656 million. These figures were projected to rise by about 15% annually, achieving nearly 755 million users by 2022.
TikTok peaked in global installs by the end of 2019, garnering over 318 downloads worldwide. However, the social media app experienced slower growth in download trends, garnering only 173 million worldwide users downloads by the last quarter of 2021.
The massive user base allows businesses to increase brand visibility and connect with a larger audience. Creating social media profiles and sharing engaging content helps companies to attract new customers and retain their existing ones.
Boosted Customer Engagement Rate
Social media platforms have become a great environment to improve business engagement. Recent studies indicate that consumers are more likely to engage with brands through social media over traditional channels like phone or email.
A study by Hubspot concerning consumer trends in 2022 reports that 22% of consumers prefer discovering new products through social media over other channels. However, that report only scratches how social media platforms can be leveraged for product discovery.
Here is a closer look into the critical statistics concerning how brands become more discoverable to consumers. This list will separate consumers based on their generation or age group to provide accurate statistical data concerning consumer behavior.
Gen Z
Gen Z is the youngest age group, taking up a considerable chunk of Twitter and Snapchat users worldwide. That is why 57% of gen Z discover new brands and products through social media. Additionally, 71% claim they most often find new products through social media platforms.
About 49% of gen Z consumers prefer to find new products through Instagram stories. It is no surprise considering 90% of consumers follow businesses via Instagram, and Instagram is also the favorite social media app of gen Z users.
Following in second place, about 41% of gen Z users prefer to discover new products through short-form videos like Instagram or TikTok Reels. This fact can primarily be attested to shorter videos appealing to younger audiences.
Millennials
Conversely, millennials prefer discovering new brands or products through their news feed or story posts. These could easily fall under anything from Facebook posts to Instagram stories.
Narrowly beating out YouTube, Facebook is millennials' most visited and popular social media app and website as of December 2022. About 36% of millennials, like gen Z, prefer discovering new brands and products via short-form videos.
Gen X
Next is the generation that contributed to what made the ‘80s great; Generation X. Despite it not being their preferred channel, Gen X often discovers new products and brands through social media.
Like millennials, gen X is highly likely to discover new brands and products through their news feed and stories posted by other users or businesses. Surprisingly, gen X shares the same number of people who prefer to discover new products and brands through short-form videos as gen Z.
Short, "snackable” content appeals to this age demographic. It is so appealing to gen X that 36% of people who use TikTok as of 2021 were within the age range of 35 and 54. It is also worth noting that these numbers state a 10% increase compared to the previous year.
Baby Boomers
Social media platforms fall flat in popularity among baby boomers. The number of baby boomers discovering new brands and products was at a slim 17% as of 2022. Additionally, at that same time, only 4% of that demographic made product purchases through social media apps.
Among the few Baby Boomers who use social media, about 42% prefer discovering new brands and products via news feed posts. The platforms most frequently visited and used by Baby Boomers are Facebook, Twitter, Instagram, YouTube, and Pinterest.
Based on the data, it is clear that social media allows businesses to interact and engage with their customers in real time. It also enables these businesses to promptly address customer concerns and respond to queries.
Like with any business, gaining the trust and loyalty of your target demographic is critical. Social media provides a level of engagement that helps build that trust and loyalty, ultimately leading to increased sales and revenue for the business.
Increased Sales and Revenue
Over the years, social media has had a strong influence on the world of e-commerce and how people online make purchasing decisions in general. Recommendations and sharing services or products help boost brand recognition, drive sales, and develop trust and loyalty among buyers.
It also does not hurt to have e-commerce community marketing software to make digital marketing more cost-effective.
Research conducted by Hubspot indicates that 71% of consumers are likely to make purchases based on references from social media platforms. Pinterest, Instagram, and Facebook offer businesses various advertising options, including targeted ads and sponsored posts.
These advertising options allow businesses to connect with their target audience more effectively. This targeted approach also assists companies in boosting the rate of conversions and driving sales and revenue.
Improved Customer Service
Social media platforms can significantly improve customer service for businesses. A study regarding social media customer support revealed a number of ways social media is integral to improving customer service for businesses. Here is what the numbers say.
Eighty percent of consumers worldwide engage with brands using social media. Among US consumers, 84% of them used social media to send customer service requests to claim they received responses from the company.
That might be why 69% of US social media users prefer messaging a company directly, claiming it gives them confidence in the brand. Promptly responding to a complaint made through social media boosts customer loyalty and advocacy by as much as 25%.
Fifty-nine percent of American residents who use social media believe it has made customer service more accessible. Additionally, 71% of consumers with a positive brand experience are highly likely to recommend that brand to friends and family.
Fifty-one percent of respondents to the study stated that they are very likely to repeat business with a brand that responds to their queries over social media. Meanwhile, 41% claimed they are somewhat expected to repeat business with a brand under the same circumstances.
Regarding average time for responses, there are three divisions of people and how long they expect to wait before receiving an answer to a question or complaint. 26% of consumers expect a response within 4 hours, 31% expect a response within 2 hours, and 37% expect a response within 30 minutes.
Engaging in customer service requests through social media platforms can also bring 20 to 40% more revenue per customer and reduce the per-contact cost by about 83%.
For small to medium businesses, 85% use Twitter for customer service interactions. This Twitter statistic might be because 33% of consumers are more likely to contact the customer service of a grand through social media platforms rather than over the phone.
Based on the statistics mentioned, it is clear that social media platforms provide businesses with opportunities to promptly address and resolve customer concerns. That alone can help improve customer satisfaction, increase the chances of recommendations from customers, and prevent negative reviews.
Additionally, businesses can utilize social media to collect feedback and valuable insights from customers to improve their services and products accordingly.
Influencer Marketing
Influencer marketing, or digital marketing that involves product placements and endorsements from influencers, has become a well-known marketing strategy for businesses in recent years. This marketing method is so popular that even employment-focused social media platforms like LinkedIn use it.
Influencer marketing is so popular among LinkedIn users that, according to LinkedIn statistics, the platform has over 180 million senior-level influencers.
A recent study by Statista was conducted on the marketing statistics of the global influencer marketing industry. This study found that since 2019 the industry's market size has more than doubled, and by 2022, it reached a market value of $16.4 billion.
As mentioned, influencer marketing involves forming partnerships or collaborating with social media influencers. Ideally, businesses partner with influencers with massive followers on social media platforms like Facebook, YouTube, TikTok, and Instagram to promote their services or products.
Not only does this approach help businesses connect with a broader audience, but it also improves brand recognition and trust. If you need further evidence to support these claims, only look at the numbers.
Facebook statistics show that videos published by influencers account for approximately 60% of Facebook video views in the United States.
Instagram statistics reveal that 61% of consumers trust influencer endorsements more than brand content, which is why 73% of marketers prefer Instagram for influencer marketing.
TikTok statistics show an engagement rate of 17.96% among micro-influencers and 4.96% with mega-influencers.
Did you know? YouTube's official launch was on Valentine's Day, February 14, 2005. However, the video upload feature was not included until April 23, 2005. That might be because YouTube was initially supposed to be a dating app when it was first launched.
Social media is integral to a business, impacting everything from brand awareness and customer engagement to lead generation and sales. According to trends and statistics, companies benefit greatly from leveraging social media platforms to gain competitive advantages.
However, social media constantly evolves, and businesses must keep pace with the latest strategies and trends to maintain relevance. One way to achieve that is by using community marketing software like Archive to harness creativity and content from your communities.
Social media platforms' impact on businesses will maintain its evolution and expansion in the coming years. That is why companies must understand the latest trends and adapt their strategies around them.
Need help establishing your brand on social media platforms? Archive specializes in helping quickly growing brands turn content into customers. Contact them today to put your business on the map.
FAQs About Social Media Statistics and Trends
How much do influencers make on TikTok?
The average income of TikTok influencers ultimately depends on their total number of followers. Nano influencers, at the lowest tier with 10,000 or fewer followers, can earn $5-10 on average per post. Macro influencers, or influencers one tier below TikTok royalty, stand to make an average of $400-600 for each post.
Which companies benefit the most from social media marketing?
Today companies like Facebook, Microsoft, and Apple benefit the most from social media marketing. That is because these companies have power over the ads seen on social media, which ultimately dictate which influencers and businesses get crucial exposure.
Which industries benefit the most from social media marketing?
Industries that can easily find success through using social media marketing include lifestyle, fashion, travel, health and wellness, and entertainment.
