43+ Social Media Marketing Statistics You Need To know in 2024

Marketing is one of the most dynamic industries, constantly evolving as customer behaviour changes. More than 50% of the world’s population uses social media nowadays, exceeding 4 billion during the pandemic. Marketers are adapting their social media strategies as staying in the loop with the latest trends is essential. Therefore, to help you out, we’ve prepared a list of social media marketing statistics to help you know how to get the best out of every platform.

Social Media Marketing Statistics

We have categorized social media marketing statistics to make you understand them better.

Global Social Media Users

• 3.96 billion social media users will be by the end of 2022, which was 3.78 billion in 2021. And it is expected to reach 4.1 billion by 2023. (Statista)

• Out of 5 billion internet users, 4.65 billion people are active social media users. (Source: Statista)
  
  
• 72% of US citizens use social media. (Hootsuite)
  
  
• Consumers spend 15% of their time on social media platforms. The COVID-19 pandemic encouraged people to spend more time online, and stats indicate that an average user will devote 15% of their day to social media platforms. The percentage translates to approximately 2.5 hours daily. (We Are Social)
  
  
• The adoption rate for social media users accelerated by over 13% in 2021. (We Are Social)
  
  
• Over 40% of consumers use social media as a discovery engine. (We are Social, Oberlo)

• China has the most well-known social media market globally, with 999.95 million unique social media users. As mobile apps led to a steep increase in social network users, social media usage statistics by country show India was second with 639.47 million. The US has 295.48 million and claimed third place. (Statista)
  
  
• Most consumers utilize social media platforms on mobile devices. As many as 99% of social media consumers worldwide report regularly accessing social media platforms from their mobile phones. (We Are Social)

Platform-Specific Social Media Stats

• Kazakhstan (84.2% ) and Brunei ( 81.4%)have the most significant Instagram reach. (Statista)
  
  
• Facebook is still the world’s most popular social media platform, with 3 billion active users in 2021. (Statista)
  
  
• TikTok is predicted to exceed 1 billion users in 2021. ( (Social Media Today, Wallaroo Media)
  
  
• The latest Pinterest stats show that 89% of Pinners are on the platform for purchase inspiration, while another 50% of US users frequently shop on Pinterest. (Sprout Social)
  
  

Social Media Advertising Statistics

• Social media advertising revenue projections for 2023 indicate a CAGR of 29.12%, reaching $221.01 billion. (GlobeNewswire)
  
  
• US social network ad spending is forecast to reach $56.85 billion in 2022. (eMarketer)
  
  
• Facebook’s 2021 ad revenue will be almost $95 billion. (Statista, CNBC)
  
  
• Snapchat’s revenue from the first 3Qs of 2020 was over $1.5 billion. (Social Media Today)
  
  
• 2 million advertisers are on Instagram. The engagement levels are incredible, the highest of all social media and 22% higher than on Facebook. Marketing analysts also compared the audience size of the 50 largest brands on Facebook and Instagram, and the results show a 35% larger audience on the latter. (Business of Apps)
  
  
• Instagram is expected to generate over $18 billion in ad revenue in 2021. Considering the rate at which the annual revenue of Instagram ads grew between 2018 and 2019 ($6.18 billion to $9.45 billion), it’s expected to reach $18.16 billion by the end of 2021. (Statista)

Social Media Marketing Statistics for Businesses

• Facebook is the top platform for marketers, with more than 90% using it. Instagram comes in second with 78% of marketers using it, and LinkedIn third with 61%. With the increased popularity of Instagram, more brands will focus equally on Instagram and Facebook soon. (Statista)
  
  
• 73% of marketers think social media marketing is effective. (Oberlo, Buffer, Social Media Today)
  
  
• Nearly 70% of social marketers prioritise brand awareness in their strategy. (Sprout Social)
  
  
• 50% of customers follow brands on social media to learn about new products/services. (Social Media Today)
  
  
• Social media statistics for businesses show sharing irrelevant content follows with 51%, while 43% of consumers claim they’ve seen one too many ads. Promotional posts, meanwhile, are an issue for 35% of users. (Social Media Today)
  
  
• 277% more leads are generated on LinkedIn than on Facebook and Twitter. (HubSpot)
  
  
• 91% of B2B marketers use Facebook in their campaigns. 27% of B2B companies consider social media to be indispensable in their marketing campaigns. Social media marketing data indicates Facebook is used by 91%, LinkedIn by 79%, and 70% report using Twitter for marketing. (Revive)
  
  
• Over 80% of executives check social media before making a purchasing decision. Statistics reveal that 84% of executives use social media before making purchasing decisions. (Hootsuite)
  
  
• Social media marketing data indicates that a whopping 91% of marketing executives also consider LinkedIn to be the platform for relevant leads and content. (The Shelf)
  
  
• 85% of businesses use third-party tools to handle their social media. (Social Media Today)
  
  
• Over 70% of consumers with a nice social media experience are likely to recommend the brand to others. (Oberlo)
  
  
• 60% of marketing professionals recognise measuring ROI as one of their most significant social media marketing challenges. (eConsultancy, Lyfe Marketing)
  
  
• After following a brand on social media, 87% of customers report visiting its website or app. (Sprout Social)
  
  
• 71% of people complaining to a brand on Twitter expect a reply within an hour. (Twitter Blog)
  
  
• Instagram shopping posts have increased brand traffic by as much as 2,600%. (Big Commerce)
  
  
• Engagement rates for influencer marketing are the highest on Instagram. The top rates for engagement of consumers on Instagram are over 11 times higher than for Facebook posts. For Instagram, research points to 1.67% per post, compared to only 0.15% on Facebook. Twitter has the lowest engagement rate, with only 0.043%. (Backlinko)
  
  
• According to social media marketing facts, just under 70% of brands use influencer marketing on Instagram. (Influencer Marketing Hub)

Latest Trends in Social Media Marketing

• Effective Facebook ads should have a CTR above 1% and a CRM lower than $40 on average. Price can significantly vary in both directions, depending on your target groups, but many marketers believe above $42 for CRM indicates that Facebook treats your ads as dubious. (Social Media Examiner)
  
  
• Instagram has about 13 times higher engagement levels than Facebook. Businesses worldwide respond to Instagram’s rising popularity, as 90% of top brands have an account. (Rival IQ)
  
  
• The video streaming market size was calculated at $50 billion in 2020. (Grand View Research)
  
  
• The influencer marketing industry is expected to grow at a 26.8% CAGR. (PR Newswire, Influencer Marketing Hub)

Social Media Demographics

• 97.1% of Facebook users are above 18. (Statista, Sprout Social, Statista)
  
  
• Just over 80% of baby boomers have a social media account. The generation of baby boomers likes Facebook and LinkedIn. 82% of those who use the internet also have at least one account on social media. (PostBeyond)
  
  
• 84% of millennials reported making a purchase based on UGC.(Marketing Charts, ClickZ)
  
  
• YouTube accounts for 67% of online video consumption for millennials. 85% of people 18-64 years old regularly use it. For millennials, video content from YouTube makes up 67% of all their online video consumption. (Influencer Marketing Hub)

So, these were some of the most relevant social media marketing statistics that you should consider.

Wrap up

Knowing the latest social media marketing statistics is key to fine-tuning your strategy and developing smarter goals. After going through the mentioned stats, you might be surprised. But, as a business owner or a social media manager, you develop some great strategies that can double your revenue.

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