Social Media Marketing Statistics You Need To Know in 2024

If you are trying to improve your brand’s social presence, get to know that media platforms like Facebook, Instagram, and LinkedIn can suit you. Let’s discuss what are social media marketing statistics in 2024.

For a simple reason because your audience is engaged on these platforms. The social media platform may change depending on your business, but the fact remains that this is the best way to attract an audience. Why? Because there are 4.89 billion total social media users worldwide.

The fad is not going to fade any soon.  Because the amount of time spent on social media is increasing every day which is 151 minutes per day. If this excites you, it is time for you to know different social media statistics.

Importance Of Social Media Marketing

Usage of social media has empowered brands to portray them bigger than what they are. Competition is high but the presence and idea that you reflect on social media makes it all for you.

Let us read the importance of social media marketing:

Social media marketing has become a powerful tool for influencing brand perception, customer engagement, and business success. Here’s why social media marketing is crucial:

• Broad Reach and Audience Engagement: Social media platforms have billions of active users worldwide. They provide an unparalleled opportunity to reach a vast audience, engage with potential customers, and foster brand loyalty through meaningful interactions.
• Brand Awareness and Recognition: Social media helps amplify brand visibility. Consistent and strategic content sharing helps create brand recognition, making your business more familiar to your target audience.
• Direct Communication Channel: Social media enables direct communication between businesses and customers. Responding promptly to queries, concerns, and feedback enhances customer satisfaction and builds trust.
• Content Distribution: Sharing relevant content, such as articles, videos, and infographics, positions your business as an industry authority. This content can be easily distributed to a broader audience, driving traffic to your website.
• Lead Generation and Conversion: Social media campaigns can target specific demographics, increasing the chances of generating qualified leads. By leveraging engaging content, you can guide leads through the conversion funnel.
• Cost-Effective Marketing: Social media platforms offer cost-effective advertising options for precise audience targeting. Compared to traditional advertising, social media provides better ROI.
• Real-Time Feedback and Insights: Social media provides immediate feedback on campaign performance. Analytics tools offer insights into user behavior, preferences, and demographics, helping refine marketing strategies.
• Competitive Edge: Establishing a strong social media presence differentiates your business from competitors. It showcases your commitment to staying relevant and engaging with modern consumers.
• Brand Loyalty and Advocacy: Regular engagement and personalised interactions foster brand loyalty. Satisfied customers become brand advocates, sharing positive experiences and recommendations.
• Adaptability and Innovation: Social media constantly evolves with new features and trends. Businesses can showcase their innovation and agility by staying updated and adapting to these changes.
• SEO Boost: Social media signals contribute to search engine optimization (SEO). Active social media profiles and shares can positively impact your website’s search engine rankings.

Social media marketing is a dynamic platform that facilitates brand-building, customer engagement, and revenue growth. It allows businesses to connect with their audience authentically and create a lasting impact in the digital era.

Social Media Marketing Statistics you Need to Know in 2024

Some of the statistics you can observe for social media marketing include:

• In 2023, the number of people using social media is anticipated to reach 4.89 billion. This implies that social media will be used by more than 60% of people worldwide.
• The typical person uses social media every day for two hours and twenty-four minutes. From 1 hour and 52 minutes in 2019, this is an increase.
• The most popular kind of material on social media is video. According to 82% of marketers, video is a crucial component of their social media marketing plan.
• Live video is getting more and more common. 80% of people claim that live broadcasting makes a brand more likely to receive their attention.
• The effectiveness of social media advertising is rising. For social media ads, the typical click-through rate (CTR) is 1.21%.
• Retargeting is a potent strategy for connecting with website visitors. Retargeting is a social media advertising tactic used by 77% of marketers.
• The use of social media in customer service is beneficial. Consumers want companies to reply to social media queries within 24 hours, according to 73% of consumers.
• A excellent strategy to increase brand recognition and loyalty is through social media. 76% of social media users claim that after following a brand on social media, they have grown more devoted to it.

 

Social Media Marketing Trends in 2024

Read some of the best social media trends to watch in 2023:

Short-form video content: 

Short-form video content is becoming increasingly popular as people seek quick and engaging ways to consume content. Platforms like TikTok and YouTube Shorts lead this trend, but other platforms also invest in short-form videos.

Example: 

One company that excels in producing short-form video material is TikTok. A place for marketers looking to interact with younger audiences, TikTok is a social media network well-known for its quick, inventive, and frequently funny videos. 

Companies like Chipotle have embraced TikTok to showcase their products in engaging and fun ways. Chipotle’s short-form video content often features behind-the-scenes looks at their food preparation, creative challenges, and user-generated content, fostering a sense of community and interaction with their brand.

These bite-sized videos capture attention quickly, align with the platform’s unique style, and effectively promote the brand’s offerings.

Social commerce: 

Social media platforms are used for the purchase and sale of goods and services in social commerce. As more individuals conduct product research and make purchases on social media, this trend is gaining momentum.

An exemplary brand that has embraced social commerce is Nike. Through platforms like Instagram and Facebook, Nike seamlessly integrates shopping features into their posts. 

They showcase their latest products in engaging visuals and videos, allowing users to directly purchase items without leaving the app. 

This approach enhances customer convenience and leverages social media’s massive reach to drive sales, making Nike a standout example of successful social commerce integration.

Authenticity: 

Consumers are more likely to trust authentic and transparent brands on social media. This means being genuine and honest and avoiding too much jargon or corporate speak.

Amul is a notable Indian brand that has maintained authenticity on social media. With a rich, witty, and creative advertising history, Amul extends its charm to platforms like Twitter. The brand consistently shares topical and humorous illustrations, often commenting on current events, trends, and social issues. 

This approach resonates with the Indian audience and has become synonymous with Amul’s unique marketing style. By blending its iconic visuals with timely and relatable content, Amul remains authentic while staying relevant and engaging on social media.

Personalised marketing: 

Businesses now have additional options thanks to social media platforms to tailor their adverts and content to particular consumers. This implies that companies can modify their communications to better appeal to the wants and needs of their target market.

An Indian brand that excels in personalised marketing is Cadbury India. Their “Cadbury Celebrations” campaign showcases personalised chocolate gift packs for festivals, birthdays, and anniversaries. Through their “Personalisation Studio,” customers can add names and messages to the chocolates, creating a unique and heartfelt gift. 

This approach resonates with consumers, tapping into the emotional aspect of gifting. Cadbury India demonstrates effective personalised marketing that enhances customer relationships and boosts brand loyalty by offering customised products that cater to individual preferences and occasions.

Niche platforms: 

A rising number of specialized social media sites target particular populations or interests. This can be a really effective technique to distribute your material to a specific audience.

Zomato is a food delivery and restaurant discovery platform. The brand leverages social media effectively to establish itself as a prominent player in the food industry. Their witty, relatable, and engaging content on platforms like Twitter and Instagram not only showcases their services but also taps into their audience’s food culture and preferences. 

Their interactive campaigns, humour, and user-generated content have created a strong brand identity. Zomato’s innovative approach to social media marketing has set a benchmark in its niche and resonated with millions of users across India.

Live video: 

Live video is growing in popularity as consumers look for more interactive and interesting ways to communicate with brands. Live video can be used by businesses to offer Q&A sessions, show off their products, or simply communicate with their audience.

Nykaa, a prominent beauty and cosmetics platform, frequently conducts live video sessions on platforms like Instagram and Facebook. These live sessions feature makeup tutorials, skincare routines, product launches, and Q&A sessions with beauty experts. 

By leveraging live video, Nykaa creates real-time interactions with its audience, allowing viewers to ask questions and receive instant responses. This approach showcases their products and positions them as a reliable source of beauty advice and expertise, enhancing customer engagement and trust.

AI-powered content: 

For social media, more personalized and engaging content is produced with the use of artificial intelligence (AI). This includes technologies driven by AI that can assist businesses in producing better content or chatbots that can respond to client issues.

Lenskart, an eyewear retailer, employs AI-driven personalised recommendations on platforms like Instagram and Facebook. Through machine learning algorithms, they analyse user preferences and browsing history to suggest eyewear options tailored to each individual. 

This dynamic approach enhances the user experience and optimises their social media advertising strategy by delivering content that resonates with their audience’s preferences. Lenskart’s utilisation of AI-powered content showcases its commitment to innovation and customer-centric marketing in the digital age.

Edutainment: 

A sort of content called edutainment mixes learning with entertaining. This may be an effective technique to entertain people while educating them about new information.

Byju’s is a prominent online education platform that creates engaging and educational content through platforms like YouTube and Instagram. 

Their short video lessons, animated explanations, and interactive quizzes make learning enjoyable and accessible. By blending education with entertainment, Byju captures the attention of students and learners of all ages, making complex concepts easily understandable and relatable. 

This approach promotes their educational services and establishes Byju as a go-to source for interactive learning, setting a precedent for edutainment-driven social media marketing in India.

Collaboration: 

Influencer and brand partnerships are getting more and more common. This may be a fantastic strategy to expose your brand to a larger audience.

Popular online fashion retailer Myntra routinely works with celebrities, designers, and fashion influencers to produce unique collections and marketing campaigns.

These collaborations are strategically promoted across various social media platforms, leveraging the reach and fan base of the collaborators. 

By tapping into its partners’ audiences, Myntra expands its brand visibility, generates buzz, and drives sales. This collaborative approach enhances credibility and yields significant profits through combined marketing efforts and the power of influencer endorsement.

 

Also Read : Social Media Practices for Higher SEO Ranking

Conclusion

Staying abreast of social media marketing statistics is imperative for businesses seeking digital success. Evolving market needs like video content dominance, influencer collaborations, and AI-driven personalization are reshaping strategies. 

Amid these trends, Noboru stands ready to assist, employing cutting-edge marketing tactics to elevate your brand. 

Ensure your social media strategy thrives, connect with us at hello[at]noboruworld.com or book a call. Let Noboru be your partner in navigating the dynamic landscape of social media marketing.

FAQ

What is the significance of social media marketing statistics?

Social media marketing statistics provide insights into user behaviour, preferences, and platform popularity. These data points help businesses tailor their strategies to reach the right audience effectively.

What are the most used social media platforms?
Facebook, Instagram, Twitter, LinkedIn, and TikTok are the most widely used social media platforms. Understanding platform demographics and engagement rates aids in selecting the right platforms for your target audience.

How do engagement statistics impact marketing strategies?
Engagement statistics, including likes, comments, shares, and click-through rates, reflect the effectiveness of content. Higher engagement indicates resonating content, guiding marketers in crafting impactful campaigns.

Why is video content gaining traction?
TVideo content’s popularity stems from its engaging nature. Statistics reveal that video posts receive higher engagement and reach, making them a powerful tool for conveying messages and showcasing products.

What role do influencer marketing statistics play?
Influencer marketing statistics highlight the impact of collaborating with influencers. Metrics like engagement rates and follower growth demonstrate influencer effectiveness, aiding businesses in selecting suitable partners.