Thursday, August 31, 2023     Erin      Social Media

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Social Media Trends and Statistics for 2023 

Social media is a very important part of any marketing strategy, giving your brand exposure and a voice. Your brand is able to reach thousands of people and sometimes millions. In this blog, we’ll discuss the current trends and statistics for social media in 2023. 

It was reported by Forbes, that the estimated number of people using social media in 2023 was 4.9 billion. This number is expected to increase to 5.85 billion by 2027 and this isn’t specific to just one platform. Users often use up to six or seven different social media platforms each month. 

Those statistics alone show the importance of using social media for your business. It should always be part of your business strategy and digital marketing strategy. Platforms that should be highly considered are TikTok, Instagram, Facebook and YouTube. While short-form videos are becoming more popular, YouTube is still a valuable tool you should be using. All of the platforms mentioned above are powerful tools for a brand to use and also allows them to interact with consumers. 

The Most Popular Social Media Platform 

Whether we want to admit it or not, Facebook is the most popular social media platform. Facebook sees 2.9 million active users every month, imagine the reach you could expect if you directed your marketing campaigns to utilize Facebook. However, Youtube is coming in hot in second place, with around 2.5 million users each month. 

“These staggering numbers aren’t just statistics, either. They highlight the expansive influence and potential of social media platforms. The takeaway for marketers? To harness the increasing power of social, marketing strategies will need to leverage these platforms effectively to engage with audiences.” – Forbes 

To drive home this point even further, that social media is vital to any marketing strategy, is that the average person is spending about 145 minutes a day on social media. That’s an incredible number, not taking advantage of that would be out of the question. The next question we should be asking ourselves is where are people viewing these social media platforms? The most popular way to view social media would be on their mobile apps. 

“??It comes as no surprise that the majority of people are tapping into social media through their mobile devices, but the number itself might raise some eyebrows: 99% use a tablet or smartphone to connect to social media, while 78% do so exclusively from their phones. At 1.32%, desktop social media users are dwarfed by their mobile-loving counterparts” – Forbes

Statistics by Social Media Platforms

One of the newest and most popular social media platforms is TikTok. This platform saw a profit, as of 2022, of $350 million in revenue in Q4. TikTok outperformed all other social media platforms when it came to this sort of revenue, such as Facebook, Instagram, Twitter and Snapchat combined.

According to the report released by Forbes, 52 percent of people using the internet are on YouTube once a month. It was also reported that in 2023 YouTube had a total of 2.68 billion active users. YouTube Premium had a total of 80 million subscribers, making it the second largest search engine in the world. 

These numbers continue to show how important and vital it is to have a brand active on some form of social media. Forbes reported that 77 percent of businesses use social media to reach customers, 90 percent of users will follow at least one brand on social media, and 76 percent of users have actually purchased something that they saw on a social media platform. 

“Businesses are often among the first to leverage the power of new technology, so it makes sense that, in an increasingly digital business landscape, 77% of small businesses use social media to connect with their customers. In addition to building brand awareness (44%), a significant number of small businesses—41%—also depend on social media as a revenue driver.” – Forbes

The report also stated that 81 percent of people trust and follow brands on social media. Which is forcing many brands to be more accountable for their products and services. This means that brands should be creating a strong social media presence and strategy. 

“Social media is about more than just apps and platforms: It’s a digital environment that’s clearly reshaping the world of marketing. Platforms such as TikTok, Instagram, Facebook and YouTube are the arenas where your brand can truly connect, engage and grow with your audience.” – Forbes 

Your Brand and Social Media 

Now that we’ve explored some of the statistics and trends for social media in 2023 we can start to discuss your social media strategy. We need to ask ourselves what you’re currently doing online and how you’re taking advantage of this powerful tool. Then we can start to work on a new social media strategy and how it can contribute to building your brand. 

One of the things we strive to do at i2bGlobal is establish a strong social media marketing strategy. We often have to take into account the budgets available to us and the audience that the brand needs to reach. Our team then creates a comprehensive social media strategy and digital marketing plan. 

To learn more about our digital marketing and social media strategies available to you, please reach out to us. Because when it comes to making sure your brand is getting the very most out of these important social media platforms, we’ll be there to help guide you through it. 

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