Which Social Media Channels are Gaining and Losing Steam in 2024? [New Consumer and Platform Data]
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These days, it feels like everyone is on social media. But make no mistake, not everyone is on every channel.
As marketers, it’s important to know your audience’s favorite social channels. For instance, if you’re selling retirement homes, it’s safe to forgo Snapchat, where only 3.7% of users are over 50.
HubSpot surveyed over 1,400 marketers around the world find out which social media channels are gaining steam — and which are falling behind. Read on to discover which platforms are most popular with marketers and consumers in 2024.
Social Media Channels Gaining Steam in 2023
According to SimilarWeb, the Instagram app has over 1.64 billion users, making it one of the most popular apps today.
And Instagram is expected to see more growth, and our survey results show that it’s tied for first place for the highest potential growth in 2024 and 52% plan to increase their investment in the platform. 24% of social media marketers also plan to invest the most in Instagram over any other platform.
Marketers’ affinity for Instagram makes sense, considering marketers in our survey said the app yields the highest engagement and the third-highest ROI of all social media platforms.
Another reason for Instagram’s popularity among marketers is that the platform is leading the charge in leveraging the social selling trend. Instagram has the most developed in-app selling tools of any platform. Our survey shows that, in 2024, 84% of marketers believe consumers will buy products via social media apps more than from a brand’s website.
Marketers aren’t the only ones using the platform.
Although Gen Z visits TikTok the most, they rank Instagram among their favorite social media apps — as do Millennials.
Instagram is also holding steady with older audiences. In the last few months, 47% of Gen X-ers have visited Instagram, followed by nearly a quarter of Baby Boomers. However, if you’re targeting these audiences specifically, Facebook or YouTube could be a better option.
On the marketing side, more than half of video marketers rank Instagram as the best platform for ROI, engagement, and lead generation. If you’re looking to dive more into video marketing, Instagram is an attractive option.
Facebook is also tied with Instagram for platforms expected to see the most growth in 2024. According to our survey, 21% of social media marketers plan to invest more in Facebook than any other platform, and 53% plan to increase their investment, which is an almost 24% change from just 2023.
Furthermore, 40% of social media marketers plan to use Facebook for the first time in 2024.
Facebook currently attracts 3 billion monthly users, more than any of its competitors. A high concentration of its audience belongs to Gen X-ers and …read more
Source:: HubSpot Blog
