SM DAY: 12 social media facts you need to know in 2023
It is difficult to deny the importance of social networks in today’s world. Having dedicated over six years of my career to managing social campaigns for clients such as Telefónica, Oracle and SAS across various B2B tech industries, I have personally witnessed the escalating significance of social presence in the realm of B2B tech.
I’m not here to teach you how to use social networks (though we’re more than happy to help if you contact us!), but we wanted to highlight some relevant insight on what’s going on in the ever-evolving social landscape as it is Social Media Day 2023 today.
Here are 12 key statistics that shed light on the current state of social media in 2023. These facts, gathered from industry reports and social media platforms themselves, highlight trends, user behaviour, and the significant impact of social media in our digital world.
- The CEO is more than just a leader: 63% of people say CEOs who have their own social profiles are better representatives for their companies than CEOs who do not. The mere act of a CEO being active on social media brings about an additional advantage by fostering a positive impression of the company.
- LinkedIn is the In-Place for B2B: With over 900 million members, LinkedIn is the undisputed leader in lead generation. 65+ million business decision makers are on LinkedIn. Plus, its audience has double the buying power of the average online audience.
- Yes, you need to be on social media: In 2023, an overwhelming 90% of social media marketers emphasise the significance of cultivating an online community as an essential component of an effective social media strategy. By fostering social media communities, you empower your audience to actively participate and gain knowledge from one another, ultimately enhancing their perception of your brand’s value.
- Paid social is even bigger than having your brand on a paid search engine ad: Social media has experienced a surge, surpassing paid search as a dominant advertising channel. With a remarkable year-over-year growth rate of 25%, social media advertising revenue has now exceeded a staggering $137 billion, outpacing paid search, which stands at $135 billion.
- Social media keeps growing! As of April 2023, there were 5.18 billion internet users worldwide, which amounted to 64.6% of the global population. Of this total, 4.8 billion, or 60% percent of the world’s population, were social media users.
- Facebook’s still king: contrary to popular belief, Facebook remains the most popular social media platform, with an impressive 2.9 billion monthly active users. As social communications experts, we are well aware of Facebook’s seemingly diminished role in B2B social media strategies. However, it is important to acknowledge that Facebook continues to dominate the social networking landscape at the user level worldwide.
- Messaging apps’ popularity: Messaging apps, such as WhatsApp and WeChat have experienced substantial growth. In 2023, it is projected that over 3 billion people will use messaging apps, providing businesses with new opportunities for customer engagement and communication.
- Video content reigns: Video content continues to dominate social media. YouTube maintains its position as the leading video-sharing platform, with over 2 billion logged-in monthly users. TikTok has also seen significant growth, now surpassing 1 billion monthly active users.
- Rise of Instagram: Instagram currently boasts 2 billion monthly active users. This makes it the fourth most used social media platform, after Facebook, YouTube and WhatsApp. Setting apart what monthly active user figures show, Instagram is the most-downloaded mobile app in the world, which is impressive!
- A day in social: As of 2022, the average daily social media usage of internet users worldwide amounted to 147 minutes per day, up from 145 minutes in the previous year. As a fun fact, the country with the most time spent on social media per day is the Philippines, with online users spending an average of three hours and 53 minutes on social media each day.
- Social commerce on the rise: The social media feed has quickly become the modern equivalent of a physical store, where users are actively engaged in shopping rather than just looking. According to Deloitte Global, the global social commerce market is projected to exceed US$1 trillion in 2023.
- Influencer marketing is effective: Influencer marketing continues to be a powerful strategy for brands, with over 80% of marketers reporting its effectiveness. Collaborating with influential B2B social media personalities allows businesses to tap into their engaged audience and build brand credibility.
Just as a bonus track, have you ever wondered what unfolds within a single minute on the internet? In Domo’s 10th annual «Data Never Sleeps» infographic, they presented a captivating glimpse into the sheer magnitude of data generated every minute online. This mesmerising display highlights the exponential growth and ever-expanding variety of data, painting a vivid picture of an unstoppable force that shows no signs of slowing down.
Domo reports that in the last decade, Instagram users went from posting 3,600 photos per minute to nearly 66,000 today (a 1700% increase from their “Data Never Sleeps” 1.0). Zoom users log 104,000 hours (up 164% from DNS 2.0), and smartphone owners send three times as many (16 million) texts today as they did in 2016 (DNS 4.0).
To wrap things up now, social media continues to shape the way we connect, communicate, and consume information in 2023. As we celebrate Social Media Day and reflect on the fascinating facts surrounding social media, it’s crucial to leverage this powerful tool effectively.
At Tyto Content Studio, we understand the significance of compelling content in the digital landscape. Whether it’s developing a tailored social media strategy, building the right influencer programmes, running effective paid social campaigns, creating great content and much more, our team is dedicated to helping you make an impact in the social realm.
If you’re searching for experts to guide you through the world of social media and content creation, look no further. We’re here to collaborate with you, using our expertise and creative skills to develop strategies that captivate your audience, drive engagement, and ultimately elevate your brand’s presence online. Happy Social Media Day!
