The marketing dynamics have changed 360 degrees with transformation in the technology and advent of digitalization. Far gone are the days when an attractive billboard in a good traffic area was enough for promoting a project and grabbing the attention of the target audience. It’s a digital age, where from teenagers to senior citizens are connected to social media, which has the power to drive their decision-making process.

To highlight the importance of social media in the marketing landscape, here are a few stats to give you an overview:

• 17 billion users are on the social media platforms.
• Average user spends 143 minutes per day on the internet.
• A person uses 6.7 different social networks per month.
• The growth in the social media users is around 320 million from January 2023 to 2024.

The above stats would give you an idea how much power social media holds on the life of your target audience. Here are a few additional stats to reflect how much advertising budget is being spent by various businesses including your competitors on the social media:

• Social media ads account for 28.8% of all digital advertising spend.
• Businesses put around 8.7% of their total revenue towards their ads budget.
• Total spend on social media advertising is projected to reach $219.8 billion in 2024.

Businesses are willing to increase their budget on social media because of its potential in bringing them the leads and increase the revenue number. Now that we settle on the importance of social media in your marketing strategy, lets discuss the various social media platforms and how they can contribute:

Facebook:

Facebook is one of the most used platforms by the businesses with around 3.05 billion active users monthly, of which 56.3% are males and 43.7% are females. This platform is among the pioneers of the social media era, being actively used by the Western and Asian side of the globe. With one of the diverse advertising features, Facebook offers a wide range of ad types and lead generation options to reach and conversion of the potential users.

Instagram:

Instagram users worldwide range between 18-34 years age group, which means you can reach out to young minds and professionals both through this platform. What has provided Instagram an edge is the reel format among all types of social media creatives; its short, crisp and persuasive way of not only introducing your products or services to the audience but to convince them of the merit and credibility. Another important aspect on Instagram is influencers and content creators, which makes it easier to penetrate various audience segments and reach the niche audience.

TikTok

One of the fastest growing social media platforms with a momentous rise in its user rate and is expected to reach to around 2 billion users in 2024. The platform is video based and with its interactive user interface, scrolling through various videos on the go is what people like the most to get acquainted with what’s happening around them and keep an eye on the latest brands, offers, food, travel and lifestyle updates.

LinkedIn

When it comes to B2B, there is nothing ahead of LinkedIn. It’s the most diverse, dynamic, and comprehensive platform to reach out to businesses and professionals. With more than 1 billion members from across the globe, you can even reach out to the audience segments according to their income brackets along with multiple other attributes.

YouTube

A short, concise, and convincing ad on YouTube can take your marketing far and wide. With over 2.5 billion users worldwide, a user spends an average of 28 hours on the Android app every month. With a detailed video, you can easily illustrate various dimensions of your project, product, or service to your potential customers. The ad features of the platform are also diverse and support the business goals with precise targeting and placement.

Each social media platform provides a wide range of options to help you reach your target audience, but what matters is how well its integrated into your marketing strategy. Its not about using multiple platforms but how well each platform is used with highly effective content and advertising strategies.