Seven Social Media Statistics to Remember in 2023
One of the biggest challenges any business faces is attracting new customers. Even with the best products and service offerings, businesses struggle to get attention. Social media marketing is an effective way for businesses, both big and small, to reach a wider audience and encourage them to make a purchase. Having stepped into 2023, we hope you have already jumped the social media bandwagon and making the most of it. If not, here are some statistics that reveal the power of social media. For those who are already using social media, these facts can help shape their social media strategy.
Social media usage
9 in 10 internet users use social media every month. As of October 2022, there are 4.74 billion social media users worldwide. Moreover, there are 6 new users joining every second. The world spends over 10 billion hours every day on social media. This clearly shows the wide reach of social media and its non-stop growth. This also means social media is something that cannot be ignored, regardless of the size of the business. Each business must leverage the power of social media to expand its reach and boost its sales.
Facebook is the world’s third-most downloaded app. On average, 1.98 billion people log into Facebook daily. Seventy percent of the American adult population on Facebook uses the social media platform every day, while 49% use them several times a day. 87.1% of U.S. marketers use Facebook. Over 70% of Facebook users view local business pages at least once every week. With so much action happening on Facebook, there is no reason why a business should not be a part of it.
Instagram is the 7th most visited website in the world, with 2.9 billion total visits per month. It boasts 1.5 billion daily active users. Global internet users in the age group of 16 to 24 prefer Instagram to other social platforms. 90% of Instagram users follow at least one business. 1 in 2 people has used Instagram to discover new brands. 44% of people use Instagram to shop weekly.
Social media shopping
In a study, 28% of internet users aged 16-64 admitted that they use social media to find inspiration for things to buy or do. Over 26% said that they use social media to find products to buy. 23% revealed that they use social media to check out the content posted by their favorite brands. So, whether they buy or not, they still engage with the brands.
The popularity of short-form videos
TikTok has been a kind of revolution. These short videos are a powerful way to engage the audience. The average American watches 80 minutes of TikTok every day. 500 million people use Instagram stories every day. On the other hand, 300 million people use Facebook stories daily. 58% of marketers plan to use Instagram reels this year to boost their brand exposure. With the exponential growth of video, it’s a no-brainer that in 2023, forward-thinking companies will invest more in video production.
For the uninitiated, creator marketing refers to the marketing of a product, service, or brand through a partnership with online content creators on various social media platforms. In 2022, influencer content was watched 13.2 times more than media and brand content. In 2023, creator viewership is expected to reach 10 trillion views per month across all social media platforms. If you are not already doing this, it is an opportunity you should not miss out on in 2023.
If you are still not leveraging the full power of social media, it’s time to enhance your efforts. Get in touch with our team to know how we can help.